Do I really want an MBA?

It’s been a while since I wrote. All I have been doing the past couple months is research MBA programs, try to figure out where I actually want to apply, where I have a reasonable chance at getting accepted, What parts of my profile need to be highlighted in my applications and what I want from the MBA program.

I have read hundreds of blog posts, newspaper articles, talked to several people just to know what to expect! Something I think that is very important is understanding not only the pros but also the cons of the decision to get an MBA!

All the websites out there seem to just talk about how an MBA is the road to success, a 120k+ paycheck and the access to a highly valuable network. But What about the cons? What happens if you drown in 200k of student debt and you don’t have a job!? Or what if the next recession hits and MBAs are unemployed like the last financial crisis! or what happens if you leave your comfortable job, start the program and do not get where you want after all those sacrifices?

I wanted to be realistic about my expectations and not get carried away by all the fluff B-schools keep advertising to lure potential MBA candidates. After all, they’re businesses too, I can’t get carried away by their awesome marketing strategy for their programs. There HAD to be a downside, and I wanted to hear about it. I figured that if after being aware of the cons if I was still willing to take the risks, the huge student debt and still wanted to go for it, It was really the right step in my career! 😀

I finally decided I do want an MBA but I now have more clarity on what I want out of it. I am willing to take on student debt for some schools, but for others, I will attend only if I get some amount of financial aid!

I’ll discuss in detail how I decided which programs to apply to.. Stay tuned for the next post 🙂

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Summing up the US MBA admissions process

Okay, so there is a lot of work that needs to be done. And this is just the application process, I wonder what it will be like once the course actually starts and all that coursework piles up! All in all, I think I’ve done my research well and here’s what I think needs to be covered:

  • The GMAT / GRE :
    • It’s just a part of the application process. Note to international students: US universities don’t follow a cutoff process, they just publish the mean test score. You could be excused for a low test score, but it’s best to be above the school average if you don’t have something extraordinary in your profile.
    • my takeaway : Schools rankings depend on test scores, so if all else is equal, a candidate with a higher test score is viewed more favorably. Of course, usually all else is not equal, but I think it’s safe to say that it’s always better to have a good GMAT score. Also scholarships and financial aid usually depends on the GMAT score.
  • Recommendation letters:
    • Usually need 2 letters, one from a current supervisor preferably. Academic letters don’t seem to help much unless you’re an early career candidate
  • Transcripts
  • Essays:
    • This is the trickiest part of your application, and where you will spend the most amount of time. Every school has different essays, and there are usually so many questions.
    • Use the optional essay to explain anything in your application, from bad grades to circumstances you believe the admissions committee should be aware of.
  • If all is well the interview. Some schools ask you to submit additional essays along with the interview.

Contemplating.. The Decision to get an MBA

I graduated from college one year ago. I’m a computer engineer, and I work at one of the World’s most famous tech giants in product development. I’ve always been one of those people who is over ambitious, and is constantly in search of more to life. I’m not unsatisfied with my life, but I’m constantly planning my next step to success, learning every step of the way..

I love my job, I love my career, I had a fantastic college life, Why the need for more?, you may ask. That’s just how I am. Over competitive and over ambitious. I’m only one year out of college, and I can’t bring myself to stop thinking about my future career prospects. Maybe I’m happy now, but would I be if my growth stopped here, and my job stagnated? All of this made me think a lot about what I want in life. The past one year I have introspected, considered my options and come to only one solid conclusion: I want to go to B-school and get an MBA.

I thought about all my other options, and for me this just seemed to make more sense. Maybe it would differ for someone else, maybe some one else may have a different opinion. Some may argue about the need for an MBA. The downside to my decision? Only 1 year of work experience, a hefty price tag which I cannot afford (Not to mention the exorbitant application fees), the possibility of being in debt, and I don’t  know if I even have a chance at getting into one of my dream schools!