If you're planning a career in Business, you must be considering applying to Business Schools.
The average years of professional experience a candidate holds at the time of applying to the B-Schools for MBA programs is approximately five years; not to forget the sky rocketing MBA expenses (1-2 Cr INR) - which brings us to the question.
What are the options for the younger target audience?
Masters in Management is a comparable yet comparatively economical option for folks with (0-2) years of experience to kickstart their business careers much earlier. A MiM degree equips early-career students (undergraduates, fresh graduates up to 2 years of work ex) with the knowledge they need to give momentum and start their careers in Business.
Let’s take a look at the Top MiM Programs
1. London Business School
2. London School of Economics
3. Imperial College London
4. King’s College
5. University of Bath
7. HEC Paris
8. Duke Fuqua School of Business
9. SDA Bocconi
10. National University of Singapore
So, what does it take to get into the top MiM Schools?
COMPONENTS OF YOUR APPLICATION
MiM programs accept students from all disciplines (All 15 or 16 years of education)- General or Specialized.
The University graduated from and GPA is looked at when applying for Top the MiM Programs. Maintaining good scores throughout the undergraduate/masters program is always advisable. Schools use to GPA as a tool to analyze your performance in your curriculum. Please maintain the median GPA required by each school.
2. Test Scores
The applicant pool of MiM programs is quite competitive, especially the overrepresented Indian applicant pool. High competition = higher GMAT (We recommend students to get the scores locked at the earliest, to be able to spend abundant time in profile building and strengthening one's candidature).
Although 720 hits the median of all the schools, a higher GMAT is always better and increases the odds of scholarship along with the admits.
Students should complete for their GMAT at least in the pre-final year, to allow enough time for profile building and increasing their odds of getting in.
If Mim programs accept students with 0-2 years of work ex. (Some schools such as LBS has very strict policies of accepting students with 0-2 years of work ex at the time of joining- i.e. max 1 year of work ex only), how do the Admissions committee analyze if a student has the leadership and analytical skills to qualify and succeed in these Top Business programs?
Internships and Employer Branding in the process are factored in while selecting a candidate. It's highly recommended to get as many diverse internships as they can, internships with esteemed organizations add more value. Unlike Indian schools, Global schools consider Internships and Articleship (CA candidates) as work experience.
4. Extra-curricular Profile
To assess the odds of a candidate, B schools look beyond one's curriculum to identify employable skills. (Leadership, Analytical, etc). Adcom will be keen to understand your contribution and performance in your curriculum, and outside of your structured course or curriculum. The range of extra-curricular can be vast, including association with clubs in your college or university, sports, part-time jobs, and learning new skills. Your extra-curricular profile needs to showcase your interests and skills.
5. Community Work & Volunteering
Social volunteering will be a great value addition to your profile as it will showcase your willingness to make a difference in your community and go beyond your comfort. To gain some volunteering experience, you can volunteer for NGOs, join an environmental group, work for any social causes or join college societies like National Service Scheme &/or Enactus.
Essays are a way of projecting your interest in the school, it also acts as a tool for Adcom to assess your competence. Students submit 3-4 essays per school + 1 Optional essay. Questions vary school to school, no one shoe fits all. (Word count, type, etc) (Ctrl + C) + (Ctrl + V) one school's essay to the other is a crime and often suicidal!
7. Letter of Recommendations
2 Recommenders are required for most schools.
Finalizing Recommenders can be taxing- Who should you approach; what can or should be the designation of your Recommender; what is the credibility of the recommender are some of the questions students ask.
THE NEXT PHASE OF YOUR APPLICATION PROCESS
● Personal Interview- When your application gets shortlisted and the Adcom sees your profile befitting their B-School community, you get the most awaited Interview call. Questions often comprise but do not limit to your profile, application, behavioral and situation-based questions. It can be taken by Adcom or a current student of that school.
● Financial Aid/Scholarship- The pitch for scholarship happens post selection. Our Admissions team help students get the highest scholarship they can get, assessing their strengths and pitching the same to the respective B-Schools. Our students get anywhere between 30% - 100% tuition fee waiver. More than 60% of our admitted students secure financial aid. Full tuition fee waivers are also not a rare sight either at Top One Percent!
MiM can give an early boost to your career in management. Students graduating from top MiM programs are offered positions at companies like Apple, McKinsey & Co., Bain & Co., BCG etc. If you’d like to get placed in such companies without having to gain at least a 5 year work experience, MiM is the program for you!