Six Things Top MBA Aspirants Do

Those planning to join an MBA program, unlike most other post graduate studies, need to undertake intensive planning and preparations not only to clear the admission hurdles, but also to stay the course for the next two years.

Much like the explorers embarking on voyages of discovery, you have to plan ahead on all aspects ranging from career goals to getting the right guidance and most importantly, the necessary financial resources. Let us take these up, one by one.

Deciding on Career Goals

At this stage, you have to sit back, take some time to reflect on what exactly you want to do. Among the variety of choices, which program suits you best, also which particular school.

It could be that with a work background in Finance, you are contemplating a switch to Consulting that may need a different skillset than mere number crunching.

In any case, like the explorer, you have to step out of your comfort zone and stock up on provisions for the voyage. This involves getting the books and other study materials besides registering for qualifying tests like the GMAT.

Year-long Stocking Up

Be prepared to spend at least a year on preparations. Such a long timeframe is needed as along with the application form, you have to study for GMAT, submit the test scores, prepare a resume detailing all your achievements, career goals and other information besides write the admission essay. Scoring high in GMAT would help you not only get admission but also open up avenues for getting scholarships.

Financing Your MBA

At this stage, you need to save up enough money to finance your MBA. A two-year full time MBA program would cost anywhere from US$20,000 to US$150,000, depending on where you want to study and the type of program. Online MBAs are cheaper but may not have the same rigour or weightage that recruiters give to full-time programs.

Apart from scholarships, educational loans are available from various sources, both private and public. You need to research on the best options available.

Possibilities of finances by your present employer could also be explored. Some companies may insist on a bond or a certain number of years of continuing to work for them.

Get a Mentor

A mentor should, ideally be someone who is familiar with the entire process right from the admissions to the course of study and other aspects. Getting in touch with Business school professors or alumni  would help clear doubts as also enable you to gain insights into the particular culture of the school and other aspects.

They can also help you identify your strong points, weaknesses and generally guide you in aspects like developing leadership and team player qualities.

Study Schedule

Get a GMAT or GRE prep book according to the requirements of the program and register for one or both of the tests. At least four to six months study is needed before taking the actual test. During this period, it would be worthwhile to take as many mock tests as possible in actual exam hall conditions.

Identify your weak areas whether in quant section or language parts and work for improvement. You could even engage a tutor to guide you along.

MOOCs for MBA Aspirants

Some of the Massive Open Online Courses (MOOCs) are designed for MBA candidates who want to gain business knowledge prior to joining a business school.  Some may even help you obtain a fully-fledged MBA degree or certificate. However, do your own research and check up about the genuineness of the programs before signing in.

With all these factors in place, you are assured of smooth sailing and safe passage through the rigours of a tough program that would bring its own rewards at the end. (Image Courtesy: Pixabay)