Tuesday, April 01, 2008

If you want an MBA - Don't Wait!

I was reflecting today that one of my regrets regarding the MBA (now that the spectre of joblessness has passed) is that I didn't apply sooner. Now in reality, given my career progression, my husband's job status, and my desire to have a baby before starting my degree, I really couldn't have started any sooner. But - to those of you who are ready for your degree - don't delay applying!
  • Options are Valuable: For years, I refused to apply because I was certain that no reputable program would admit me. I was unwilling to take on the cost of applying given that I was sure how it would turn out in the end. To those of you with similar sentiments - at least give the admissions committee the chance to write you off, don't beat them to the punch. You never know how it will turn out. Yes, the sudden increase in applications make it a more challenging game, but if you feel the MBA is right for you, better to start trying sooner than later. Options are valuable when you can get them.
  • Diminishing Returns on Work Experience: I don't feel I benefited much from the last few years I worked - they did not leave me all that better prepared to succeed during the program or beyond. So unless you expect to get a lot more out of your job in the next year or two - it's probably time for the degree.
  • Tuition is Just Increasing: a minor point, but these 3%-5% annual increases start to add up ...
  • Be Ready to Reapply: Very excellent candidates are dinged each year. Starting early and really doing your research as to where you are the best fit is invaluable. Each year that you delay your application, increases the cost of reapplication.

I wished that someone had encouraged me to think seriously about the MBA sooner ... so now I'm that someone for you. Apply now already!

(upcoming: MBA myths dismissed...no, the MBA is not just for the pedigreed Ivy League ibankers ... it's for you too ... no offense to pedigreed Ivy League bankers ;)

3 comments:

The.Grey.One said...

True. I guess i've waited a year or so more than required for my MBA. I already have 5 yrs of Work Ex, and would be waiting till fall 2009 to get into school. Considering that i want to get into MC, such long Work Ex is not necessary. I applied to GSB this year in R2 and didn't get thru (after IV). Will be applying again this year in R1.
All the best for your internship.
Hope everything is well, and baby Y is swell :)

Urban Frolicker said...

Thanks for this! I've been running amok reading MBA blog after MBA blog trying to figure out whether or not to apply this year. You're definitely right, now is as good a time as any.

pavan said...

Hi

Thanks for such valuable inputs..
I realised some things because of this blog.Keep it up

Pavan