Originally published on Forbes in Oct 2024. This article has been republished here.
Is An MBA Worth The Investment? Consider 14 Factors Before Applying
Pursuing an MBA may be one of the most important decisions for a recent undergraduate and/or business professional to make. Receiving the degree could help them advance their career in a shorter period. It may also make them more marketable as a job candidate in their particular industry.
On the other hand, it’s important to realize that having a piece of paper to prove one’s credentials is still only one part of the pie in the process of demonstrating your worth to the employers you want to hire you. Instead, sharing what you can bring to the table as a whole person is even more fundamental and will benefit you in the long run.
If you are determined to further your higher education and believe that receiving an MBA is the best bet at this time in your life, the experts from Forbes Business Development Council provide several components to keep in mind as you begin the application process and head down this path. Here are 14 tips to assist you on your journey to getting into a top MBA program that could elevate your career.
1. Structure Your Workflow And Learn The Business Theory
The best way to look at MBA programs is to add structure to your current workflow, learn the theory behind how businesses operate today and, most importantly, build a network of professionals who are just as passionate about businesses. Your background is unique, so lean into it to bring your authentic self closer to your career and education goals. – Olga Lykova, monday.com
2. Understand That An MBA Is Only One Aspect Of The Whole Person
Focus on your professional goals and use the experience to accelerate your career. Don’t expect the designation of MBA by itself to make a difference. It is only one aspect of the whole person. Stay humble. – Mike Janes, Direct Line Global from CBRE
3. Implement A Seven-Step Framework
Here is my seven-step framework on getting into a top MBA program: 1. Understand why you want to pursue an MBA; 2. Start the process early and do your research; 3. Distinguish yourself in any and every way possible; 4. Identify potential post-MBA careers and build relevant work experience; 5. Find and hone passions outside of academics and work; 6. Be consistent with all of the above; 7. Enjoy the application process. Trust the process and execute. – Archana Rao, Life Work You Inc.
4. Demonstrate Who You Are And Discuss Your Aspirations
Showcase your personality and how you will contribute to the business world with a captivating personal narrative. This helps admissions committees understand your background, motivations and aspirations. Your story is the one distinction that separates you from others. Be wise and realize that others will likely do the same, so take your time and artfully illustrate who you are and what you offer. – Scotty Elliott, AmeriLife
5. Ensure Your Unique Value Proposition Is Clearly Stated
One crucial tip for getting into a top MBA program is to clearly articulate your unique value proposition in your application. This means highlighting what sets you apart—be it your leadership experience, innovative thinking or global perspective. Admissions committees seek candidates who will enrich their program. – Tomer Yosef, FANSEE TV
6. Build Connections With Alumni On LinkedIn
Getting connected to alumni is critical because they can provide excellent insights on careers and so much more. Having conversations with alumni allows MBA applicants to tailor their application. For example, a student can start connecting with alums through a LinkedIn search. If there’s a good connection created, a student can potentially get a recommendation from an alum. – Wayne Elsey, The Funds2Orgs Group
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7. Research The Faculty Expertise And Alumni Success Stories
For a top MBA program, research faculty expertise, alumni success and industry connections. For example, Harvard’s faculty includes Nobel laureates, alumni like Sheryl Sandberg, and strong ties with firms like McKinsey. One tip is to network effectively. Building relationships with current students and alumni can provide insights and recommendations. – Vishal Dugar, Cognizant Technology Solutions
8. Assess Your Real Reason For Applying
Graduate programs are great. When assessing the investment of a top-tier MBA program, an individual should also take a deep dive into their “why”—both personally and professionally. This is tremendously important because this lens could be the determining factor as to whether this path will present the ROI for the value and mark they desire to leave in their respective spheres of influence. – John Drumgoole Jr., USA Mortgage
9. Show People That You Can Be A Leader
Demonstrate your leadership and entrepreneurial potential. Admissions committees typically look for candidates who have shown the ability to lead and make an impact through academic programs, extracurricular activities or community involvement. – Arun Rasika Karunakaran, Tata Consultancy Services Ltd
10. Highlight Your Pedigree Rather Than Your Degree
Don’t show your degree. Show your pedigree. The expanse of your experiences (e.g., academic, life, professionalism), when put in the shape of a riveting story that moves people in more ways than one, is a surefire way to get into any prestigious MBA program. I say that sitting on the board of a business school myself. – Sajal Singh, Kyndryl
11. Put On Your Sales And BD Lens To Understand Your Prospect
Proactive networking with the faculty, admission and alumni should be practiced. Think of this with the same sales and BD lens that you’re trying to understand your prospect’s needs, and preempt the objection handling before positioning your solution. Since your decision will have implications on both time and resources fronts, you must ensure that the alignment between you and the program exists. – Mustansir Paliwala, EQUANS
12. Learn How You’ll Fit Into The School’s Culture
Understand the unique aspects of the school and clearly articulate how you fit into that culture. Every school is unique, and they want to see how students understand the nuances and how they fit into the community. This creates a distinct advantage for students who do this well. – Roshin Unnikrishnan, Cisco
13. Align Your Application Details With The Program’s Values
Focus on crafting a unique personal story that highlights your strengths and goals. This helps you stand out and aligns your application with the program’s values. – Umberto Cavallaro, AscoService
14. Demonstrate Your Competency And Authenticity
Building a personal narrative and showing strong career progression through the years isn’t an extremely important factor to differentiate yourself from the rest of the applicants. Your narrative should also align well with the school’s mission and values. Demonstrating strong competency and authenticity are extremely important factors for schools when determining potential fits. – Anjai Lal, Google Cloud
