Apply the 12-10-10 Rule Before Selecting MIT Over Stanford, LBS Over Insead & Kellogg Over Booth

Suzy Welch, Business Writer, for BusinessWeek has popularized the 10-10-10 rule. According to the rule, before making any tough decisions, ask three questions: How would you feel after 10 minutes, How would you feel after 10 months, and How would you feel after 10 years. We would like to modify the rule, by a touch, and apply it while selecting MBA programs: MIT vs Stanford, Wharton vs Harvard, Kellogg vs Booth, LBS vs Insead, IE vs IESE, and other close ones.

The 10 Minute impact of the rule seems a little stretched unless they are decisions like proposing to your partner, saying yes to non-refundable products, and other decisions where backtracking is not encouraged, or consequences are catastrophic. Although selecting MBA programs is a 1 month to 3-month process, the decision should be reviewed and changed if necessary after taking the GMAT Exam. Therefore, the GMAT preparation time becomes the first review point for your decision.

12-10-10 Rule

Once you pick the MBA programs during the Business School research phase (1-3 months), you have to start a GMAT Prep plan that lasts ideally for 3 months or 12 weeks. Class Median or Average GMAT Score becomes the target score for most test takers.

Scenario 1: Selecting Stanford MBA Program (Commitment)

The average GMAT Score for Stanford MBA Program is 732. Before picking the MBA program, you have to ask these three questions:

1) How would you feel targeting 720-740 GMAT Score, with 12 weeks of preparation?
2) How would you feel after 10 months, taking the GMAT, completing the Essays, collecting recommendation letter, and finally awaiting the results.
3) How would you feel after 10 years, looking back at your 1-year admission process?

These questions are open ended and does not reflect results but questions your commitment for the MBA Admission process. The last question is irrelevant for most GMAT test takers, but 1 & 2, forces you to think whether the commitment is worth it. If you are not sure about Question 1, pump up with our GMAT Prep motivation tips. If you are unsure about Question 2, don’t venture out into the grueling MBA Admission process. 

Scenario 2: Rejected from Stanford MBA Program

This is the most valuable scenario for your decision-making.

1) How would you feel getting below 700 GMAT Score after 12 weeks of preparation?

2) How would you feel after 10 months, taking the GMAT, completing the Essays, collecting recommendation letter, and finally getting rejected from Stanford MBA Program?

3) How would you feel after 10 years, looking back at the failed attempt to get into Stanford MBA Program?

Here again, question 3 is irrelevant, but Questions 1 & 2 will shift the focus on your perseverance, and priorities. If you feel discouraged by Question 1, then we would not recommend selecting Stanford MBA program. You need confidence and commitment to overcome your GMAT Score weakness, and put your best effort for essays and recommendation letter.

Scenario 3: Admitted to Stanford MBA Program

Once you imagine the best-case scenario, answering the questions would be easy.

1) How would you feel getting 735 GMAT Score after 12 weeks of preparation?

2) How would you feel after 10 months, taking the GMAT, completing the Essays, collecting recommendation letter, and finally getting into the prestigious MBA program?

3) How would you feel after 10 years, as a Stanford MBA Alumnus?

Questions 1 & 2 become easier, but for this scenario, question 3 is important. Connect with Stanford MBA Alumni who passed out of the program 10 years ago. Ask them how valuable the courses, activities, and network were. You will be surprised to find some honest answers. Some might say that they would have reached current position in their career even without the MBA program while some might attribute the network, and thought process cultivated in the Stanford MBA Class as crucial for their career growth.

Which Alumnus do you relate to, keeping in mind his background (Education, Pre-MBA Work Experiences & Post-MBA Goals)?

Apply the 12-10-10 Rule, and 3-Scenarios for your target MBA programs.

For more tips and techniques to choose the best MBA program, Download Comprehensive MBA Research Guide