Thinking About Getting An MBA?
Looking for more in-depth information? Below you will find helpful information about pursuing an MBA.
Information Sources:
Business School Admissions Advisor by Shari Lewis and Alia Murphey, Simon & Schuster.
Game Plan for Getting into Business School by Michele Kornegay, Peterson's.
Reasons for getting an MBA
Common reasons include:
- career advancement within business sector
- career change from one business field to another
- career change into management or administrative position in another field (such as engineering, arts, nursing)
- skill development and credibility enhancement for starting a business
- specific career goal that prefers an MBA (such as investment banking)
- specific management training
- higher salary potential
Length of typical MBA program
Two full academic years, plus an internship between the first and second years. Many schools have created more flexible, and part-time options to accommodate the schedules of working students.
Curriculum
The traditional model consists of a first year of core general business classes and a second year of electives allowing specialization. Some schools offer a two-tier model, in which the core classes can be waived so that students can focus more on advanced classes. Some students with a business background can enter these programs in the second half. Also, there are both national and regional schools. National schools admit students from all over the U.S. They are more visible, offer more prestigious contacts, and are often more competitive. Regional schools recruit students from their geographic region and have strong ties with local employers. When researching programs, consider which is most important for you.
There is also an abundance of non-traditional programs. For example, some MBA students go to class for whole weekends while holding down a full-time job. Employers will sometimes fund the MBA program for select employees.
Questions to Consider When Researching Schools
- Do the advanced study courses fit your academic/career goals?
- Can you take courses outside the business school?
- What kinds of special programs are available (internships, entrepreneurship, projects with local companies)
- What teaching method is used (lecture, case study, projects)?
- Does the teaching philosophy lean more toward theory or application?
- What is the quality of faculty (research interests, areas of expertise)?
- What is the class profile (age, diversity, etc.) and class size?
- How robust is their career service office?
- Does the location suit your needs?
- What is the relationship with employers?
- Is it a cooperative or a competitive environment?
- What financial aid might be available?
Entrance Requirements
Academic Background
MBA programs do not require a particular undergraduate degree. Only about half of MBA students nationwide have a business or economics degree. At UT-Austin’s McComb's School of Business, 36% of a recent year's entering class had business degrees, 15% had liberal arts degree, and 33% had technical or science degrees. Many programs require calculus or statistics as evidence of quantitative skills.
Graduate Management Admission Test (GMAT)
This aptitude test includes verbal, quantitative, and analytical writing sections. It is a timed, computerized test. Scores range from 200 to 800, with 500 as an average score. At UT-Austin, an average GMAT score for those accepted to the program in 2007 was 673.
Work Experience
Many schools require two to five years of work experience prior to admission. The more competitive schools may even require more. At UT-Austin, those accepted to the program had an average of five years prior work experience.
Helpful Links
McCombs School of Business MBA Program
To Do MBA Directory (includes international listings)
Which MBA? (includes program rankings)
National Black MBA Association
MBA Central (includes international listings)