Is the MBA Right for You?

Pre-MBA Checklist
Before fully dedicating yourself to pursuing a graduate degree in business, it’s important to determine whether or not an MBA is a good fit for you. To self-evaluate your readiness for the MBA, ask yourself the following questions adapted from www.mba.com.

1. Do you know the management field/job that interests you?
2. Have you identified the industry that interests you?
3. Do you know your preferred geographic location?
4. Can you explain the reasons you believe an MBA will help
you achieve your goals with regard to your targeted
industry and job function?
5. Can you explain the reasons you believe an MBA will help
you achieve your goals with regard to your natural strengths and weaknesses?
6. Can you articulate the strengths (academic, personal and professional) that have helped you to be successful and/ or that your colleagues have praised?
7. Can you articulate the weaknesses that have hindered your performance or created obstacles?
8. Are you clear about the personal factors that must be considered in making your decision?
9. Do you know how you would have to modify your career goals if you do not obtain an MBA?
10. Do you know which of the following elements are important to you in choosing an MBA program?
• Not being required to relocate
• Career/placement services
• Being able to continue working full time
• A full-time, full immersion experience
• Being able to pursue an MBA work internship
• Being able to declare a concentration of electives in my field
• Cross-cultural experiences, not just academic ones
• A general management “core” foundation in accounting, finance, human resources, information technology, marketing, operations and strategy

If you answered yes to all 10 questions, you might be ready to begin the process of obtaining an MBA. Additional self-assessment tools and MBA information is available online at www.mba.com

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What Makes a Good MBA Candidate?
Here’s some advice from mba.com for presenting yourself well as an MBA candidate:

Be honest. Admissions professionals can tell when someone is just trying to please the admissions committee. Be truthful about your MBA expectations, what your goals, aspirations and passions are, and why you are interested in a given school and program.

Be realistic. Make sure that your career goals are based on an accurate assessment of your experience and skills. Your credentials should match the typical admissions requirements of the schools to which you apply.

Tell not only what you hope to gain but also what you want to contribute. Classmates are an important part of the MBA education. Show that you’ll be a valuable member of the learning community.

Know about the school and program to which you are applying. In addition to talking in detail about yourself, you should show that you are familiar with the given school and why you are a good fit.

Pay attention to school culture and corporate culture. Visiting campus and talking to students will tell you whether you will fit in with the school’s culture. Differences in culture may also affect the decisions you make about where to work.

Go back to school at the right time. Your post-MBA employment options will depend largely on your pre-MBA exposure and experience. By gaining useful pre-MBA experience, your intended post-MBA career will be much more attainable.

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Paying for the MBA
One of the greatest concerns of those considering an MBA is how to pay for it. Shown to the left is a breakdown of the principle methods used by MBA graduates to finance their MBAs as reported in GMAC’s Global MBA Graduate Survey 2004.