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F1GMAT: AdmissionsConsultants is known for its expertise in guiding MBA candidates to Ivy League schools. What are some of the unifying characteristics of MBA candidates who make it to the top schools. Can average MBA candidates be positioned for success?

AdmissionsConsultants:  I find that it’s helpful to think about the admissions process as a series of three hurdles.  Successful applicants must clear each hurdle to gain admission to the program of their choice.

1) Academic Qualification

You need to have the grades and tests scores to demonstrate that you are capable of handling the academic workload.  If your GMAT/GRE scores and GPA are significantly below the average for that school, the admissions committee will doubt that you have the ability and/or work ethic to get the most out of their program.  They might even conclude that you’re a risk to flunk out.  In general, over 80% of applicants to selective graduate schools are excellent students with terrific test scores and competitive GPAs, and, therefore, they clear this first hurdle with ease.  

2) Intangible qualities

The second hurdle is your intangible...

According to a recent study, the highest rates of return were found for the second-tier public business schools. The rate of return for Michigan State (Broad) was 42.72 percent. For Illinois (Urbana-Champaign), it was 42.33 percent, and for Iowa (Tippy), it was 39.7 percent.  Contrast this with the rate of return for Harvard Business School, which was only 19.7 percent. The University of Chicago (Booth School of Business) was in the last place with only a 13.4 percent rate of return.

How the Study was conducted?

The new study estimated the rate of return for the top 30 MBA programs and 15 second-tier MBA programs in the United States by comparing the cost of degree acquisition with the incremental post-MBA income over an expected work life of 40 years. Tuition and fees and two years of foregone income were used as the cost of the investment. The incremental salary was calculated and used as the investment’s cash inflows.

Reasons for high ROI for Second Tier Public Business Schools

According to the study, these high returns can be credited to two distinct aspects of their programs.

First, the tuition and fees are generally less than...

Categories : Ivy League School

Chris Yeh has been building Internet businesses since 1995. He has been a founder, founding employee, or seed investor in almost a dozen startups, and advises a wide array of startups ranging from network equipment makers to vertical search engines. When he is not answering the world’s questions, Chris is the VP Marketing for PBworks, the world’s leading provider of on-demand collaboration software.  He is a co-founder of TestSoup, a web and mobile-based flashcard study system for the GMAT and other standardized tests.  He maintains two blogs:  Ask the Harvard MBA and Adventures in Capitalism.  Chris earned two degrees from Stanford University and an MBA from Harvard Business School.  We interviewed Chris and here is the transcript.

F1GMAT:  You stress the importance of learning core concepts when studying for the GMAT....

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