Congrats! You’re thinking of applying for an MBA but are not sure where to start. I have distilled my tips into “The ABCs of Applying to an MBA.”
As for me… I will be starting my MBA at The University of Chicago Booth School of Business with a merit scholarship and as a Forté Fellow! I was also admitted into Northwestern University Kellogg School of Management with a merit scholarship.
Let’s start with the letter A…
Answer why you want an MBA, what type of program, and where you want to attend.
- Why do you want an MBA? Is it to advance in your career? Pivot to a new industry and / or function? Start a company? If you don’t have a why, you may not effectively leverage the MBA because it can go by quickly and it’s an expensive investment!
- Decide which type of program you want to attend. MBAs usually come in the form of full-time (don’t work for 2 years and fully attend business school), part-time (work and attend classes in the evening or weekend, which means it may take 2+ years to complete), or executive MBA (you’re further along in your career and will complete your MBA while working).
- Decide which school(s) you are interested in. Research schools by watching videos, reading their websites, attending a class visit, attending admissions events, and speaking with alumni and / or current students! Where you apply will determine how you prepare.
What did I do: I decided that I wanted to advance in my career as an HR professional. If I were to become a Chief HR Officer, having an MBA will allow me to better interact with my C-suite peers. I picked a part-time evening MBA because I wanted to continue working so I would still have income and can immediately implement my learnings at work, versus waiting 2 years after completing a full-time MBA. Because I live in Chicago, I focused on Booth and Kellogg. After speaking with alumni & students and attending admissions events & class visits, I confirmed that both schools would help me achieve my goals.
Be ready to determine when you will start the MBA, which determines your preparation schedule.
- When do you want to start your MBA? If you decide on a full-time program, that means which year because classes matriculate once a year. and there are multiple rolling deadlines (e.g., Round 1, Round 2, etc.). For part-time, it could mean which year and semester since admissions is rolling. Identify the deadline you will aim for and backwards plan your prep.
What did I do: I started looking into MBA programs in March 2023. Starting in Summer 2023 was too soon because deadlines were quickly approaching. I didn’t want to wait too long so Fall 2023 was my best option. Deadlines were in June so I had 3 months to prepare.
Consider breaking out your preparation by (1) test and (2) application.
- Do you need to prepare for both the test (GMAT, GRE, etc.) and application (essay, resume, etc.)? That can be a lot to complete if deadlines are approaching. If you have time, focus on the test first and then the application. This will allow you to give your best in each versus being spread too thin. Remember to also check if the school requires a test. I didn’t need a test score for Kellogg because I met their requirements.
What did I do: I luckily took the test in 2021 and was satisfied with my score. My GMAT score was valid for 5 years. I then used my 3 months before the deadline to fully focus on the application. If I had to test prep and write my application, I don’t think my application would have been as strong!
Decide how to prepare for the test and study!
- Create a study plan. Determine which test you’ll take and your target score. You can check the class profile for the school to see the average score. Decide when you’ll take the test and backwards plan from there. Gather your study materials, which can be a test prep book, a live class, or a virtual prep tool. Good luck!
What did I do: I decided to take the GMAT and studied for the test over 3 months at the end of 2020. I leveraged Manhattan Prep’s self-study tool Navigator along with test prep books. I’d wake up early to study before work. At the time, I wasn’t sure if I wanted an MBA but I took the GMAT so I had a test score just in case… which proved useful in 2023 when I did apply! My GMAT score was similar to the average of the Booth’s part-time MBA class profile so I decided to use my 2021 score.
Enter the application stage.
- Collect all the application questions. Create an account on the school’s admissions page to access the application. We usually think of essays when preparing for an application, but there are many small prompts, from describing your extra-curricular to what is your long-term career goal. Make sure to note down word limits.
- Determine what theme(s) you want to run through your application. Admissions officer are reading many, many applications. How can you stand out? What do you want them to remember you by? Are you the go-getter ready to make a change in healthcare? Are you a rising leader eager to grow your abilities and advance your career in pet therapies?
- Prepare your resume. I suggest you start with your resume first because it helps you understand your career experience and extra-curriculars. Weave your themes through it and focus on quantifying your impact, in dollars if possible (e.g., how much revenue did you generate? how much money did you save?)
- Write, edit, proofread, and repeat. You will need to go through many iterations to get your application ready. Getting pen to paper is important so power through that first draft and go from there. Have friends and colleagues provide feedback.
- Prepare your recommenders. First, you’ll need to decide who they are. Usually one is your supervisor and the other can be someone else. Once they have agreed, prepare for them stories they can reference in the letter of recommendation that show how amazing you are! Have the stories align to your themes and avoid having the letter and your application touching on the same stories.
- (Optional) Leverage external resources. Some people pay for MBA consultants to strategize how to apply, however this can cost $10K+! There are other options, such as ApplicantLab which is a more affordable option at $349/year and was an incredibly important resource in my application process. Here’s a code for 10% off from ApplicantLab!
What did I do: I started with my resume and worked through quantifying my impact at my current and prior jobs. I iterated many times before I was done. I then created a Google Doc where I saved all the application questions so I knew what I had to answer. For each question, I brainstormed points. My first draft took a long time to write because I kept putting it off but once I got started, it was easier to refine and get feedback from others. My themes were to show I lead with authenticity and inclusivity, am a passionate leader in HR, and encourage vulnerability through my body positivity work with Chi-AWE. For my letter of recommenders, I selected my supervisor and Victoria Ng, Executive Director of Chi-AWE! I thought she could speak to my non-work abilities, especially because of my contributions to Chi-AWE and my being a Miss Chinese Chicago 2022 Pageant Titleholder would make me stand out.
Finish and submit your application!!
- Hit the submit button! But before you do that, be careful with copying and pasting your responses into the application. Check that you meet word limits and if not, condense! Make sure to give yourself at least a day to do this in case you run into issues or find questions you missed. For example, Kellogg’s word limits were not clear so I had to rewrite my responses to be more concise!
Get ready for interviews just in case…
- It’s not over yet. You may get selected for an interview. In my experience, I was notified of interviews within 2 days of applying! Prepare how you’ll introduce yourself, such as what important aspects of your career and extra-curriculars will you touch on? How can you tie it to why an MBA now and why this school? Prepare professional and personal stories that display different qualities (e.g., leadership, teamwork, etc.). Research online for interview questions frequently asked by the school and practice.
Hang out while schools deliberate…
- Sit back and know that you did your best. All you can do is wait. You did your best and whatever happens, at least you put your best foot forward. Do check your email regularly for updates and sometimes, schools may call you to let you know that you were accepted. It is up to you whether you pick up the call or want it to go to voicemail, if you’re not ready to speak with them. Although, them calling, usually, is a sign of good news!
Depending on how things went… there are 2 options for the letter I:
Incredible! You got in! Here’s what’s next:
- Decide which program you’ll attend. If you got into 1 program, decide if you want to go there. It’s ok to decline if you want to wait and reapply to your dream school. Know that if you decline, you may not be accepted again to that school. If you were accepted into multiple schools, do additional research and truly reflect which school you’ll want to attend. If you need more time to decide, see if the schools will extend their decision deadlines.
- Consider if you want to negotiate scholarship. If you received scholarship from one school and not another, and they’re within a similar tier, you may be able to negotiate. Research online for tips on how to negotiate.
- If you accept, begin looking into financial aid options, such as loans. Submit your Free Application for Federal Student Aid (FAFSA) to look into federal loans and also start researching private loans.
- Get ready for the fun! You’ll have orientation where you’ll make new friends. Then you’ll begin classes and start learning what you came to business school for. Use all school resources you’re interested in to grow and develop. Along the way, remember to meet new people, go to clubs (or even lead one!), and follow your career goals. Good luck!
What did I do: I was accepted into Booth and Kellogg. Kellogg notified me first and that I received scholarship. When I was accepted into Booth, I notified them of my Kellogg scholarship and they offered me scholarship also. I spoke to many people and did additional research on the school’s offerings and career potential. It was stressful, but in the end, I decided to attend Booth because I can boost my quantitative abilities, receive the full curriculum (I was accepted into Kellogg’s Accelerated MBA, which I realized was not ideal for me), and Booth’s program was at a lower cost.
Identify your next steps if you didn’t get into a program. You can always reapply!
There’s always next time. If you decide to apply again, determine what you can do differently and when you’ll apply. Schools usually have a re-applicant essay question to understand what has changed since you last applied.
Good luck!