Dan Bauer(The MBA Exchange): Fortunately for applicants with less than ideal academic profiles, the MBA admissions decision process is subjective enough to give them a chance for success.
Networking more Important than Academics
The most frequent reason that potential MBA applicants cite for wanting to pursue an MBA is gaining an academic grounding in business skills. They are invariably surprised when I tell them that if that’s the only reason they are going to Business School then they are wasting their money. When I then go on to tell them that I don’t really believe in campus placements, they start looking at me like I have suddenly grown two heads ....... until I explain why.
Entrepreneurs use MBA to: Network, Refine Business Plan and for Seed Funding
I have seen several people start companies while at Business School or immediately after they graduated. They use their time at school to develop and refine their plan through discussions with classmates, professors and by the feedback they gain through entering Business Plan competitions. Not only do they get feedback from such competitions but often also the opportunity to network with potential investors and the money they won from these competitions often serve as seed money for them to develop their idea further.
F1GMAT: Nearly all Business School asks about the applicant’s involvement in community service. What are some of the points to keep in mind while writing about the community service experience? What should an applicant do in cases where he doesn't have any community service experience?
Stacy: Business schools pride themselves in training future leaders, not just educating a bunch of people who know how to calculate an IRR and overuse the word “leverage.” This is why so many ask about an applicant’s involvement in community service. MBA programs look for individuals who are concerned about doing great work and improving the world around them.
Community service experiences are important for the following reasons:
1) They show that an individual is multi-dimensional. They demonstrate, interests, passions, personality. As such, they help the admissions committees get to know you beyond your professional goals.
2) Being involved outside of work shows that you can balance multiple commitments, and that you are the type of person who will be able to balance academics with clubs, conferences, recruiting, and more, once you are at school.
F1GMAT: Should you pursue an MBA if you are not thinking about going into consulting, finance or other more traditional careers?
Most applicants to MBA programs, still plan to pursue fairly traditional post MBA careers such as finance, consulting and general management. However, there are a number of ‘non-traditional’ careers after an MBA that applicants are now considering. Some students are considering this largely because of the economy, while others join an MBA program with the intention of pursuing an alternative path.