One common business school application question is "Why are you pursuing an MBA?" Although you are not expected to map out your entire life plan before b-school, you should be able to at least provide a thoughtful, well-reasoned response.
According to an mba.com survey, the top reasons for pursing a graduate MBA degree are:
- Opportunity for more challenging and interesting work
- Personal satisfaction and achievement
- Long-term income and financial stability
- Remaining marketable and competitive in a given industry
Where can an MBA take you?
Any business or institution needs strong managers, and an MBA degree provides a well-rounded background in management and business skills that can be applied throughout a candidate's career. According to Top MBA research, the vast majority of employers (77% or more) agree that those who hold graduate business degrees demonstrate higher ability in managing strategy and innovation, knowledge of general business functions, and in strategic and system skills than other employees at the same job level.
While consulting and financial services account for about 50% of the job offers at most schools, MBA degrees are increasingly utilized as a means of career progression in a wide variety of fields. In fact many MBA programs actively recruit prospective students from less "traditional" fields, such as media, entertainment, healthcare, and public service. There has been an increase in hiring of MBAs in pharmaceuticals, biotech, IT and creative roles in recent years, and entrepreneurship is the immediate choice of about 5% of graduates.
How can you confirm that an MBA is right for you?
Kaplan offers a one-on-one admissions consulting program where we match you with MBA grads who have worked in MBA admissions advising capacities and/or served on admissions committees at many top schools. One of our consultants can help you figure out if business school is right for you, as well as whether now is the time, given your work experience, undergraduate education, and your unique circumstances. Learn more about our Business School Admissions Consulting Program.
Other ways to learn more about whether an MBA is right for you include spending time talking to MBA alumni in your chosen field, visiting schools and sitting in on classes, and talking to recruiters about the value of the degree as part of your career path. An MBA is often cited as a life-changing experience and an opportunity to develop extensive leadership, teamwork, management and business experience in 1-2 short years. Given the commitment and investment required, be sure to investigate all of your options and make the best informed decision for you.
How can you convince the Admissions Committees that an MBA is right for you?
According to Ben Baron, a VP with Kaplan who is also a Harvard MBA graduate and has worked on Harvard Business School's Admissions Committee, MBA admissions officers want candidates whose applications essentially tell them: "Here's why I want to go business school. Here's why I want to go to your school. Here's what I plan to do with my degree. These are my strengths. These are my weaknesses. Here are some things I'm most proud of. And I hope you accept me."
These are theoretically simple questions, but answering them requires substantial introspection on your part. Those who answer these questions well are the ones whose applications stand out, specifically because so many people fail to approach the process in this fashion. However, if business school is the right decision for you, you should be able to answer these questions honestly and compellingly. Be sure you allow sufficient time to craft compelling application essays.
