In the 21st century, choosing a career has become more challenging than ever. The emerging technology is creating new career job opportunities, while the healthcare sector is bringing incredible growth prospects. However, the benefits of the business field are second to none. Whether you want to kick start your career or pursue an advanced degree, the business world offers the most lucrative opportunities. Simultaneously, it gives plenty of career choices.
If you are good with numbers, stats, and data, explore the finance field. Otherwise, if you’ve always enjoyed exploring in the humanities and creative world, crawl into the marketing department. After all, a business administration degree offers distinctive specializations. If you are thinking of stepping up in your career, opt for a master’s in business administration (MBA). It will add specific business skills to your toolkit – strategic thinking, leadership, problem-solving, etc.
Likewise, it provides a pathway to management-level positions, opening doors to career advancement. If you are clueless about this higher degree program, let us shed some light on it. Here are all details and requirements for pursuing an MBA degree.
Application Format & Requirements
Every applicant has to fill an online application form while submitting the undergraduate transcripts. Schedule the entire process to ensure you don’t miss out on the test and fee deadlines. Begin by preparing your applications a few months before the deadline. From picking class timings to career planning – the application form should consist of all necessary information.
If you are hesitant to give up your full-time job, opt for the best online MBA program to manage both things simultaneously. It will give the flexibility to pick class timings while eliminating the need to rush to campus to attend the class. If you have extensive work commitments, students have the option to listen to pre-recorded lectures. Without careful planning, students submit incomplete applications, increasing the chances of disqualifications.
Moreover, students have to write MBA application essays. It might feel intimidating, but essays reflect your perspective, values, and weaknesses. Surprisingly, a high GMAT score can save you from this hassle, but it is mandatory in some schools.
Academic Requirements
Every master’s degree requires applicants to have an undergraduate degree from an accredited institution. Similarly, your undergraduate grade-point average (GPA) also holds great importance. A high GPA bolsters application, increasing your chances of getting admission. According to World Reports, the top GPA ranking is 3.53, while the average for low-ranked programs is 3.37.
Unlike law and medical school, the business school admission process is quite comprehensive. It assesses qualitative skills to fulfill the needs of graduate management coursework. Simultaneously, it inspects the candidate’s technical skills, ensuring they can keep up with economic statistics, calculus, and other practical courses. However, if you are struggling with a low GPA, here are some ways to compensate for it.
- Build an Alternative Transcript: The MBA program offers prerequisite courses, and earning ‘A-Grade’ opens doors to university-level courses.
- Demonstrate Leadership Skills: Admission committee members are looking for valuable skills in business students. Thus, ones with leadership skills and extracurricular activities get an edge over other candidates.
- Build Networks: Exhibit networking skills because business schools want well-connected individuals in this dynamic world.
Standardized Tests
When opting for higher education, students have to submit their test scores. It verifies their readiness and competence for the specific subjects, making sure they are ready for an MBA degree program. Here are two tests that students have to take before starting their MBA.
- GMAT
It is the graduate management test (GMAT) that measures a student’s proficiency in numerous areas. It consists of multiple-choice questions (MCQs) on algebra, data analysis, grammar, and basic arithmetic to assess students’ mathematical skills. In short, the test has four sections – analytical writing, integrated reasoning, quantitative, and verbal. Since quantitative and verbal get combined scores, the other areas hold more weightage.
Integrated reasoning tests your decision-making skills. Students have to synthesize information in graphics, tests, and numbers. Likewise, they have to organize pieces of information to solve interrelated problems. In comparison, the analytical writing section gives questions in a series of images, and students have to provide inductive reasons. These complex tasks measure your ability to examine and analyze data. And since it is a comprehensive test, last-minute preparations are not an option.
- GRE
The graduate record examination test (GRE) tests students’ aptitude for abstract thinking, mathematics, and vocabulary. It covers verbal reasoning and analytical writing to assess your strengths and weaknesses. Students can complete this test in-person or opt for an online exam. Although the test format is quite similar to GMAT, these are general graduate exams.
Unlike the combined scores of the GMAT, it provides separate scores for each section. The results would look like 130-170 for verbal and quantitative reasoning and 0-6 for analytical writing. Thus, students have readily selected which scores they want to send while applying for MBA admissions.
Ideally, students should take both exams, GRE and GMAT. It will develop a conversion chart, helping them determine which scores are higher. Simultaneously, every college has a different preference for tests. Taking both of them is likely to give you an edge.
Work Experience
Fortunately, there is no hard and fast rule regarding how much work experience students should have before applying. On average, experts recommend four to five years’ experience since it is enough to learn about the professional world. The MBA course outline is comprehensive and technical, which means it will be quite challenging to grasp concepts without industry know-how. However, some people wonder about their chances of getting admission to business schools without work experience. A few schools do consider fresh graduates, but they are highly selective about it.
Do you need more advice? Have a look below.
- Alumni: Reach out to old students and ask them about their experience in the business school. You can ask them about their goals and whether the MBA helped them in achieving those.
- Career Services: These are career advisors, helping students decide which specialization is the best and what suits their interests.
- Business Fairs: You will get a chance to meet representatives from various universities and MBA employers. It is an incredible opportunity to gain industry insights.
Wrap Up
Being the most recognized business degree, winning a place on an MBA is a competitive process. Whether it is the human resource, finance, marketing, or public relations – MBA offers specialized courses for every field. As a result, many people see it as an opportunity to step up in their career. In addition to developing expertise, it promises promotions and access to managerial roles. Nevertheless, before calling the shots, make sure you are aware of all program requirements.
