GPA’s can be one of the most fraught parts of the MBA application process, since you can’t really change it. What’s a good GPA for MBA programs? How can you determine the MBA GPA requirements at your prospective business schools?

In this article, I’ll go over a what a good GPA for business school is, how much and why your GPA matters in the course of MBA admissions, and what to do if your undergraduate GPA is lower than you’d like it to be.

What’s a Good GPA for Business School?

So, is there a specific GPA you’ll need to get into business school? The short answer is no. Like your GMAT score, your GPA is just one factor in a variety of admissions requirements, and different schools have different expectations when it comes to your undergraduate grades.

Most schools don’t have explicit minimum MBA GPA requirements. However, you can determine the expectations of a given school using the average GPA of their most recent incoming class(es). At most top 20 schools, the average GPA hovers around 3.5, making a 3.5 a solid baseline GPA for admissions. For very high-ranking MBA programs like Harvard and Stanford, average undergraduate GPAs are closer to 3.7.

How Much Does Your GPA Matter in MBA Admissions?

Like your GMAT score, your GPA is a significant factor in MBA admissions. There’s no doubt that admissions committees notice and value the information they can gather from your undergraduate transcript. While the GMAT is widely regarded as the most important determining factor in your chances of business school admissions, your GPA is nearly as significant to admissions committees. What’s more, average GPAs at top business schools have steadily risen over the years, making a high GPA even more important if you’re aiming for an elite MBA program.

However, MBA admissions is a holistic process that can’t be boiled down to just one number or factor. in addition to your GPA and GMAT, you’ll also turn in essays and/or other writing samples, letters of recommendation, and work experience. Many business schools will also require you to complete an interview. It’s possible, though challenging, to overcome a less-than-stellar GPA with other parts of your application.

Why Your Undergrad GPA Matters to Schools

Your undergraduate GPA is important because it’s the best indicator MBA admissions committees have of your ability to undertake the challenges of business school coursework. MBA programs are rigorous, and your school wants to know that you’re up to the task. Your past academic achievements are a good predictor of your future success.

The courses you choose to take, and your overall transcript, are just as or more important than the precise GPA number, though. The same GPA from a highly elite undergraduate institution is going to look different to an MBA admissions committee than it will from a mid-ranked school. Business schools will also take your coursework into account. A strong record of excellence in both quantitative and verbal skills, rather than a more one-sided curriculum, will be more likely to convince admissions officials that you’re capable of undertaking the rigor and variety of MBA coursework.

In addition, the average GPA of a school’s students helps to determine business school rankings (which in turn drives more applications from high-achieving students). Thus, schools that want to move up in rankings will sometimes place an emphasis on accepting students with higher GPAs.

How to Determine GPA Averages at Business Schools

Obviously you can’t change your undergraduate GPA once you have it, but looking up the average GPA for MBA programs you’re interested in will help you set realistic goals about where to apply.

To find the average GPAs of students at your prospective MBA programs, check out schools’ class profile pages (here’s Wharton’s 2018 class profile, for example). Most business schools have these class profiles, but if you can’t find one for a particular school, you can search the forums at GMAT Club to find its GPA info.

Once you have a list of prospective business schools, locate and record the average GPA at each one. To be safe, your GPA should be at or preferably above the average at the school in your list with the highest average GPA. If your GPA is significantly below a school’s MBA GPA requirements, a high GMAT score or exceptional work experience may help offset your disadvantage.

What to Do If You Have a Low GPA for Business School

If your GPA is lower than the MBA GPA requirements at your preferred schools, what’s your best bet for getting into a program anyway? Let’s go over what you can do or highlight in your business school apps if you have a low GPA for MBA programs you’re interested in.

#1: Supplement Your Transcript

Did you struggle in humanities courses in undergrad, or were classes in the STEM fields tougher for you? Take a critical eye to your undergrad transcript and pinpoint your weaknesses.

One way to demonstrate your commitment to business school and your academic career in general is to take postbaccalaureate coursework at your undergraduate institution or another one (online schools and local community colleges may be less expensive)—and show you can do better this time. Improving in your areas of weakness will demonstrate not only your capabilities in those subjects, but also your academic perseverance and dedication.

#2: Get a High Score on the GMAT or GRE

An exceptionally high GMAT or GRE score will help to offset a low GPA for business school applications. Prepare extensively (and effectively!) for the exam. A high score will demonstrate your intellectual abilities in MBA-relevant areas and your ability to do well under pressure.

#3: Highlight Exceptional Achievements

Extensive work experience, awards, and other demonstrations of high achievement in the workplace or in leadership roles can help make for a lackluster GPA on an MBA application. This is particularly true if you’re applying to executive MBA programs (programs geared towards working professionals, often with accelerated curriculum and increased hands-on experience) or if it’s been 5-10 years since you completed undergrad.

#4: Highlight Your Experience With a Feeder Company

Certain consulting/finance firms are known to serve as feeders for top business schools, with former employees making up disproportionate percentages of each incoming class. For example, McKinsey & Co., Boston Consulting Group, JP Morgan/Chase, Goldman Sachs, Blackstone Group, Summit Partners, and the Caryle Group each send a number of students to Harvard Business School (and other top MBA programs) every year. Other non-consulting employers, such as the U.S. military, the World Bank, Google, and Microsoft also serve as feeder companies for top MBA programs.

Working for one of these employers can give you an advantage for admission regardless of your GPA, since schools know that you’ve made it through a competitive hiring process and succeed in a competitive work environment. However, applying from a feeder company often also means that you’re competing with other employees, many of whom may have stronger academic credentials, so you’ll still need to find a way to stand out.

What’s Next?

Not sure if an MBA is right for you? Check out our intro guide to MBA programs for more information on MBA admissions requirements and whether you should go to business school.

Concerned about how your GMAT score will impact your chances of getting into business school? Our list of GMAT scores for top schools will help.

The post MBA GPA Requirements: What’s Good for Business School? appeared first on Online GMAT Prep Blog by PrepScholar.

Aside from your GMAT score, your GPA is the most important number on your MBA admissions application. Admissions committees look at your GPA as an indicator of past academic performance and as a predictor of whether or not you’ll succeed in their program. So can you get your MBA with a low GPA?

While a low undergraduate GPA certainly makes admission to business schools more difficult, it doesn’t make it impossible. In this guide, I’ll walk you through the ins and outs of low GPA MBA admissions. First, I’ll talk about why GPA matters to MBA programs. Next, I’ll talk about what actually counts as a low GPA for MBA programs. Finally, I’ll give you some tips and tricks for on getting into business school with a low GPA.

Why Does GPA Matter to Business Schools?

If you’re applying to business school, you might be wondering if your undergraduate GPA even matters to admissions committees. After all, there are plenty of other criteria on your application: GMAT scores, work and volunteer experience, recommendations, personal statements… In the face of all of this information, do admissions committees even care about GPA?

The answer is yes: admissions absolutely committees do care about GPA. In fact, according to a 2014 survey from Kaplan, GPA is the second most important factor in MBA admissions decisions, behind GMAT scores.

What makes GPA so important to business schools? Well, schools see your undergraduate GPA as an indicator of your future success in their program. If you did well as an undergraduate, admissions committees see you as more likely to do well with the rigorous business school course load.

Because GPA is used to predict future success in business school classes, low grades in classes related to business (such as quant classes, accounting classes, or economics classes) may be particularly worrisome to admissions committees because they show that you might struggle with the business school curriculum. I’ll talk about how to deal with low grades in your undergraduate coursework in a later section.

Business schools also care about GPAs because the average GPA of admitted applicants factor into their overall rankings. The higher the average GPA of their admitted applicants, the higher a business program will rank in national rankings.

Despite the fact that GPAs are important to admissions, having a low GPA doesn’t mean you can’t get into business school. Later, I’ll offer some tips for making your application stronger when you apply for an MBA with a low GPA . But first, let’s talk about what a low GPA even means.

What Is a Low GPA for Business School?

Now that we know why GPA matters, let’s focus on what a low GPA for business school means.

If you’ve been stressed out about not having a perfect 4.0 for your undergraduate coursework, you’ll be happy to know that MBA programs do not expect you to have a flawless transcript. In fact, business programs don’t have cutoff scores for GPAs, so you don’t have to worry about specifically looking for MBA programs with low GPA requirements. While the average GPA of admitted applicants varies greatly depending on the program, there are some general trends that I’ll talk about.

Unsurprisingly, the M7 (the unofficial group of the top seven business schools in the United States) have the highest average GPAs amongst admitted applicants. All M7 schools have an average GPA of 3.50 or higher for their admitted applicants.

The rest of the top 25 business schools range between 3.30 and 3.60 GPAs for admitted applicants. Business schools ranked 26 – 50 have an admitted applicant GPA range of 3.16 – 3.52.

What does this all mean? Well, you’ll notice that all of the top 50 business schools have average GPAs of 3.16 or higher amongst their admitted applicants. Ultimately, you’ll need to do research on the MBA program of your choice to see exactly what its admitted applicant average GPA is so you can see how you stack up. You can generally find this information in one of three ways: by checking out the program’s ranking on US News & World Report, by visiting the program’s website, or by calling the program’s admissions office. Finding out how your GPA relates to the average GPA of admitted applicants at the MBA programs you’re applying to will tell you whether or not your GPA is in an acceptable range, or if you’ll have to do some extra work for getting into business school with a low GPA.

Having a GPA up to .50 away from the average GPA of admitted applicants at a particular program isn’t the end of the world. You’ll be able to try to make up for your GPA with a strong overall application, which I’ll talk about more in the next section. If your GPA is more than .50 away from the average GPA of admitted applicants at your program, you may have a more difficult time getting accepted. If your GPA is more than .50 away, I’d suggest using a number of the application tips I outline in the next section and considering applying to some MBA programs with lower average GPAs.

How to Get Into Business School With a Low GPA

So you’ve looked into the programs you’re interested in and you’ve found that your GPA is squarely below the average GPA of admitted applicants. Don’t worry! Getting into business school with a low GPA is definitely possible and there are ways that you can make up for low grades in undergrad. In this section, I’ll give you some tips and tricks for low GPA MBA admissions and how to make yourself stand out.

#1: Take Extra Courses

Taking extra courses is a great way to demonstrate that you’re dedicated to improving your grades and mastering difficult coursework. If you struggled with a particular subject, such as macroeconomics, as an undergraduate, you can take courses at a local community college or enroll in a post-baccalaureate program to try and boost your performance. Take a number of classes so that you develop an alternative transcript to present to business schools.

Developing an alternative transcript will provide admissions committees with more evidence regarding your academic performance. You’ll also be able to improve on bad grades, showing that you’ve got the tenacity and academic chops to do well with the rigorous business school course load.

#2: Get a High GMAT Score

As I mentioned before, your GMAT score is seen as the most important factor on your MBA admissions application by 61% of business schools.

Having a killer GMAT score (above the average GPA of admitted applicants at your target MBA programs) will set you apart from other applicants and guarantee that your application gets noticed.

MBA programs use the GMAT as another indicator of academic performance, so scoring high on the GMAT will show that you’re a smart and capable student and help make up for a low GPA in MBA admissions.

#3: Offer a Compelling Explanation in Your Essay

If you had a number of extenuating circumstances that contributed to your low undergraduate GPA, you’ll want to use the optional essay to explain them. Perhaps you suffered an unexpected death in your immediate family, or struggled with an illness for many months. Telling admissions committees what happened gives them a more holistic idea of your performance.

You’ll want to make sure that your reason is really compelling. An admissions committee probably won’t see the death of your pet rabbit as a good enough reason for a drop in GPA. However, truly life-changing, extenuating circumstances can and should be talked about on your MBA admissions essay.

#4: Get (and Do Well at) a Competitive Job

Business schools care a lot about placing their students in competitive positions. Doing so benefits their ranking and makes more applicants want to attend their program.

If you struggled with your undergraduate coursework, getting and excelling at a competitive job will help show that you have what it takes to make it in the business world. If you can, get a job at a feeder company that has a relationship with the programs you’re applying to. For instance, if you’re applying to a business school that has its own internship program with Accenture, getting a job on your own at Accenture shows that you can succeed and be hirable after graduation.

#5: Demonstrate Exceptional Accomplishments

Business schools like admitting applicants with interesting, unique backgrounds to add diversity of experience to their class profiles. Have you done something amazing as an undergraduate? Maybe you organized a march that had 30,000 attendees or raised thousands of dollars for charity. Maybe you traveled around the world helping people in rural communities start small businesses. Or, you led a transformative initiative at the company you’ve been working at. Make sure that you highlight these achievements on your application. You’ll show that you’re a remarkable applicant that’d add a lot to the class’ profile.

Low GPA MBA Admissions: The Bottom Line

It is possible to successfully apply to an MBA with a low GPA, and plenty of students do so every year. However, you may need to due some extra legwork to make it happen.

First, you should figure out how low your GPA actually is compared to the expectations of your target schools. Then, consider what you can do on your business school to make up for your low GPA. Finally, you may want to look for MBA programs with low GPA requirements, like executive or online programs.

What’s Next?

We’ve talked about low GPA MBA admissions, but what’s a good GPA for business school? Check out our complete guide to learn what schools expect and what will make you stand out.

You can’t change your GPA, but you can change your GMAT score! Learn what makes a good GMAT score in our guide.

Questions about how to really beat the GMAT? Our guide to the ten top GMAT strategies will have you reaching your goal score in no time.

The post Getting Into Business School With a Low GPA: 5 Top Tips appeared first on Online GMAT Prep Blog by PrepScholar.

What is an MBA degree? What are its advantages and disadvantages? What kinds of classes will you take in an MBA program? Most importantly, should you get one?

In this article, I’ll go through the MBA degree definition, the foundations of MBA curriculum, the different kinds of MBAs, and the pros and cons of getting a graduate degree in business management.

What Is an MBA? The Basics

Simply put, an MBA (Master in Business Administration) is a graduate degree in business. MBA students study the theory, practice, and principles of business and management. The MBA is primarily meant to prepare you for senior or executive management positions.

Many of the world’s top business leaders have MBAs. Michael Bloomberg completed his MBA at Harvard Business School; Indra Nooyi, CEO of PepsiCo, earned an MBA from the Indian Institute of Management; and Phil Knight, founder of Nike, Inc., has a graduate business degree from the Stanford Graduate School of Business.

The MBA is also a terminal degree, which means that completing one conveys the highest possible level of professional expertise in the field of business. With an MBA, you would also be qualified to teach business courses at the university level.

MBA Coursework

What is a MBA supposed to teach you? MBA coursework is meant to build your skills as a researcher, communicator, leader, and manager. Though it does vary widely depending on your school and unique goals, the core MBA curriculum is often similar from program to program. Let’s use a sample program—the MBA program at the University of San Diego (USD)—to explore some of the coursework you might encounter in a graduate management degree.

Core MBA Curriculum

The core MBA curriculum at the University of San Diego, like the core curriculum at the majority of MBA programs, includes courses in accounting, ethics, finance, leadership, macroeconomics, marketing, management, microeconomics, operations, problem-solving and critical thought, social responsibility, statistics, and writing. Clearly, an MBA program is designed to teach you broadly about subjects relevant to real world business practice.

MBA Specializations and Concentrations

Many MBA programs offer their students the opportunity to specialize or ‘major’ in a certain area of study. Concentrations are especially helpful for students who know what path they want their career to follow.

USD, for example, offers specializations in new venture management, supply chain management, managerial business, and international business, among others. You can think of an MBA specialization as similar to a major or minor: it doesn’t define your career, but it can certainly boost it and build the kinds of skills you need for your unique path.

Business Ventures, Professional Development, or Internships

Aside from learning in the classroom, what is MBA professional development like? USD MBA students have several options: they can work with local or international nonprofit organizations, participate in a student-managed investment fund, develop a sustainable business model design with a team of colleagues, or receive credit from internships. Most business schools provide credit for internships and other forms of experiential learning.

Different Kinds of MBAs

As both management careers and MBA students are highly diverse, business schools offer a wide variety of options for potential students. Let’s take a look at some of the different kinds of MBAs you can earn.

Executive MBAs vs. Traditional MBAs

Many business schools offer both ‘traditional’ full-time residency (in-person, on-campus) MBAs and ‘professional’ or ‘executive’ MBAs. What is an executive MBA?

Executive (or professional) MBA programs tend to be geared towards working professionals in the mid-stage of their career. Students at these programs are often looking to develop their existing management skills in anticipation of promotions, increases in salary, or career shifts. Executive MBAs tend to be more flexible in terms of class times and curriculum (particularly electives), more focused on networking, promotions, and career management, and slightly more expensive than traditional MBAs.

However, some executive MBA students may receive partial or even full tuition reimbursement from their employers. Because employees with MBAs often improve the reputation and earnings of their respective companies, a company may choose to invest in their employees and itself by paying for business school. Sometimes, in exchange, the employee must agree to remain at the company for several years after completing their MBA.

At the Wharton School of the University of Pennsylvania, for example, applicants can choose between a traditional 20-month MBA program and a 24-month Executive MBA program, which caters to students with more work experience. You can see a comparison between the two programs here.

Part-Time and Online MBAs

While traditional MBAs are full-time residency programs, part-time and online MBA programs allow for more flexibility. Highly ranked part-time and online MBA degrees are usually regarded similarly by employers as traditional programs, but there may be fewer networking opportunities. Students at these programs are often (but not always) slightly older than the average MBA student and have other work, school, or family obligations.

Part-time programs often hold classes on evenings and/or weekends and generally take 3-4 years to complete. At the University of California, Berkeley, Haas School of Business, for example, students take two courses per semester to graduate in six semesters, or three years.

Online MBAs offer an even greater degree of flexibility. At the University of North Carolina Kenan-Flagler Business School, the online MBA includes a mix of face-to-face live online discussions with classmates and faculty, coursework offered remotely through mobile apps and other multimedia outlets, and in-person global immersions where students can network with international business leaders.

Should I Get an MBA? The Pros

There are many personal, financial, and professional reasons to earn an MBA. Here are the major pros to a graduate degree in business management:

Pro MBA 1: Networking

Part-time, online, and full-time MBA programs alike offer valuable networking resources. Your colleagues, faculty, and internship mentors are all potential business collaborators, recommenders, investors, or supervisors. MBA programs also regularly feature networking events and retreats, along with international leadership conferences, where students can meet and hobnob with business leaders in various sectors.

Pro MBA 2: Career Change

If you already have professional work experience in another area, an Executive MBA in particular can give you the boost you need to help you change careers and find a position that’s more personally or financially rewarding.

An MBA can potentially give you the resources (time, education, mentorship, and skills) to move into consulting from finance, for example, or from the nonprofit sector to a tech company. Perhaps most importantly, career services and internship opportunities are major aspects of almost any MBA program, which can give you the experience and contacts you need to move into a different role.

Pro MBA 3: Career Options With an MBA

There are as many career possibilities once you’ve earned an MBA as there are business ventures, but the most common jobs for MBA graduates are in data analysis, technology, corporate leadership, consulting, finance, law (particularly if the MBA grad goes on to earn a law degree), accounting, nonprofit or arts management, marketing, and fundraising. If you’re interested in any of these fields, an MBA could help you build or boost your career.

Many senior and executive management positions require an MBA as a prerequisite, so an MBA will almost certainly help you advance in any kind of management role. MBAs are also becoming increasingly important for employers: in 2015, according to a survey by the Graduate Management Admissions Council, 84% of global corporate employers planned to hire new MBA grads. In the United States, 90% of corporate employers said they would be hiring new business school grads.

Pro 4: Salary Increase

Even if you’re already working at a company, a promotion or renegotiation might be in order if you complete your MBA, as an employee with an MBA is often seen as an asset.

If you complete your MBA, you will also be qualified to apply for more highly paid jobs. According to the Graduate Management Admissions Council, the median starting salary for a U.S. MBA graduate was $100,000 as of 2015, well above the national median salary for college grads (which is around $50,000).

Should I Get an MBA? The Drawbacks

While there are many potential pros to earning an MBA, there are also reasons to consider getting a different degree or pursuing your business career without any graduate degree at all. Here are the major potential cons of MBA programs:

MBA Con 1: MBA Tuition

MBA tuition is notoriously high, usually ranging from $60,000 for a typical two-year business program to over $100,000 for highly ranked MBAs. Though many schools have financial aid packages and scholarships, financial investment is something you’ll need to be ready for if you plan on getting a business degree.

Many students will need to take out federal loans to pay for their degree, and there’s no absolute guarantee that their post-MBA income will suffice to repay them. Debt is a distinct possibility, and the uncertainty of the job market is a risk that not all students will want to take.

MBA Con 2: Time

Along with the financial investment, you’ll have to invest a significant amount of time in an MBA program. MBA programs range from one year fast-track degrees to eight years for a part-time program. Usually, though, an MBA program will take two years full time or four to six years part-time. This is time taken away from your career and earning salary, representing a large opportunity cost. When coupled with the high MBA tuition, it can take you many years to make up the time lost.

MBA Con 3: Not Helpful for All Careers

While an MBA can help many people jump start or shift careers, it’s not a guarantee or a requirement. Unlike a medical or law degree, an MBA is not a requirement for a successful business career.

The data on the necessity of an MBA is mixed. While six of the top 10 best-performing CEOs (as of 2014) had MBAs, 24 of the top 100 CEOs, including Amazon’s Jeffrey Bezos, had engineering degrees rather than MBAs.

If you have to put your career on hold or break the bank to get an MBA, it might not be worth it. The two main valuable takeaways from an MBA are a solid business network and management skills, which you could begin to develop by networking on your own.

MBA Requirements: How to Get Into Business School

There are many factors that business schools consider when evaluating prospective applicants. Though each school’s specific requirements vary, they usually include some combination of the following. These are Columbia Business School’s admissions requirements, but they apply to virtually all schools:

• GMAT/GRE scores: Many schools accept either the GMAT or the GRE score. Some prefer one exam over the other. Check individual schools’ websites for their specifications.

• Transcripts: Applicants at all MBA programs are expected to have an undergraduate degree from an accredited institutions. Contact your undergraduate school to have your official transcripts sent to prospective MBA programs.

• GPA: Applicants should report their undergraduate GPA (or graduate GPA, if they have already completed another graduate degree) as it appears on their transcripts.

• Essays: Most business schools require several writing samples, including short answers and essays. Topics covered will include professional goals (both short- and long-term), your interest in a particular school, your contributions to diversity, and/or your personal and professional history. You will find specific essay questions on prospective schools’ admissions requirements pages.

• Recommendations: The majority of MBA programs will request two to four letters of recommendation from instructors, colleagues, and supervisors addressing your academic and professional preparation to undergo the rigors of a graduate-level education in business.

• Proof of Fluency in English: International students who have not completed a previous accredited degree taught entirely in English will have to pass a standardized test of English fluency like the TOEFL (Test of English as a Foreign Language), the PTE (Pearson Test of English), or the IELTS (International English Language Testing System).

• Interviews: Some business schools require in-person interviews with alumni; at other schools, it’s optional. Interviews will usually be offered in a variety of geographic regions and even online.

Recap: What Is an MBA Degree?

Let’s review the MBA degree definition and how you can decide if getting on is right for you:

• An MBA (Master in Business Administration) is a terminal graduate business degree.

• It primarily prepares you for senior level management and executive positions.

• MBA coursework generally includes core business and communications courses, electives, internships and other hands-on collaborative business experiences, and global study, often with the possibility of specialization in a particular field of business.

• Traditional, full-time MBA programs (whether online or on-campus) usually take two years. Part-time MBAs usually take four to six years to complete.

• Executive MBA programs are geared towards students with advanced work experience.

• You might choose to undertake an MBA to jump start a business career, to change careers, to achieve an increase in salary, or to form a network of solid business connections.

• You might choose not to undertake an MBA due to high tuition costs, the length of the time investment required, or because it’s not required for all careers in management.

• An application for business school generally requires GMAT/GRE scores, official transcripts, GPA, essays, letters of recommendation, proof of English fluency, and possibly an interview.

What’s Next?

Ready to apply to MBA programs? Our guide to how long business school takes will help you craft a plan for the future.

If you’re interested in learning more of the history of graduate study in business, check out our explanation of the acronym MBA.

If you’re sold on getting an MBA degree, our article on how to prepare for an MBA will help you get ready.

The post What Is an MBA? Should You Get One? appeared first on Online GMAT Prep Blog by PrepScholar.

One of the biggest investments you’ll make into your MBA is time. No matter what, your MBA will require a significant amount of time, energy, and effort.

But exactly how long does it take to get an MBA? In this article, I’ll go over how long an MBA takes to finish, what could make it take longer than average, and what options you have if you want to complete your business degree more quickly.

How Long Is Business School?

So, how long does it take to get an MBA? A traditional, full-time MBA takes an average of two years to complete. The first year generally includes a period of orientation in late summer, followed by two semesters of core business curriculum. Students often complete internships or study abroad programs during the summer, or may continue classes during the summer semester. The second year of courses usually includes more electives and flexibility.

The Wharton MBA program at the University of Pennsylvania, for example, takes 20 months to complete, including a 3.5-month summer internship. The first year of courses spans from late August to May, and second-year students begin in late September and graduate in May. This is a typical MBA length for a traditional program.

Longer MBA Programs

Generally speaking, the MBA length is around two years, but there are a wide range of possibilities for business students. Many of these alternative options—including executive MBAs, part-time MBAs, and dual degree MBA programs—take longer than two years. Let’s go through each one.

Executive MBAs

Executive MBA programs (EMBAs) are geared towards MBA students with more extensive relevant work experience. They usually take around two years to complete, like traditional MBA programs.

However, because they are often geared towards working professionals, EMBAs often allow for greater flexibility and offer classes on weekends and/or evenings, which can shorten or lengthen the program time. How long is business school for executive MBAs? The vast majority fall within a 1.5-2.5 year range.

The Executive MBA program at the University of Michigan’s Ross School of Business, for example, meets once a month for 21 consecutive months. The Fisher MBA program at Ohio State University meets once a month in a similar weekend format for 17 consecutive months.

Part-Time MBA

Part-time MBA programs often hold classes online, in the evenings, or on weekends. Most part-time MBA students have other full-time work or family obligations and take two courses a semester, with the option for summer study.

How long does it take to get an MBA if you’re in a part-time program? Most take four to six years to complete, depending on the individual student’s workload and flexibility. The part-time MBA (FlexMBA) at the UC San Diego Rady School of Management, for example, has a two-evening-a-week option that takes 30 months to complete and a two-weekend-a-month option that takes only 24 months to complete. Most part-time MBA students at Boston College’s Carroll School of Management, meanwhile, complete their studies in four years (though they have up to six years to graduate if they want to pace themselves more slowly).

Dual Degree MBA Programs

Dual degree programs, which allow students to simultaneously pursue two (or more) graduate degrees, are especially common choices for business students. Students who are interested in dual degree programs should be ready to invest more time than is otherwise expected to complete their MBA.

Each dual degree program takes a different amount of time to complete; check your prospective schools’ websites for details. Let’s take a look at a few examples from the Stanford Graduate School of Business, where 20% of business students are enrolled in joint or dual degree programs:

2 Ways to Reduce MBA Length

For financial or professional reasons, you may want to finish your MBA in less than the usual two years. Some students are able to take on more than the average courseload each semester to graduate early. This may be a good idea if you’ve already got a job or business connections lined up or if you really want to save on tuition, but remember that you may miss out on connections with your cohort, faculty mentorship, or networking opportunities if you don’t follow the same academic path as your peers in a traditional MBA.

Accelerated MBA

The most popular choice for students on the business school fast track is an accelerated MBA, which is specifically structured to offer the same level of high-quality instruction and the same number of networking opportunities in around half the time. Qualified students (usually those with demonstrated work experience or high-level academic achievements) who want to enter the workforce quickly have the option of applying to an accelerated MBA program. Accelerated MBA programs usually take approximately one year, or one year and a summer semester, to complete. Accelerated MBA programs tend to be immersive, rigorous, and demanding.

The Johnson Cornell Tech MBA, for example, begins with a 10-week summer program of core business and leadership courses at Cornell’s Ithaca, NY, campus. The summer intensive is followed by two semesters of study at Cornell’s NYC campus, interrupted by a one-week January networking and consulting trip to Israel.

Northwestern University’s Kellogg School of Management also boasts an accelerated MBA program. This one-year program starts and finishes in June; students take a summer semester of core business courses and are treated as second-year MBA students for the fall, winter, and spring semesters.

Accelerated Online MBAs

There are not quite as many accredited, highly-ranked accelerated MBA programs available online, but there are several available options. For example, you can complete an online MBA at Cleveland State University (one year), the University of North Texas (one year), American University (one year), the University of Georgia (15 months), or the University of Florida (one year) in less than the usual two years.

Important: when considering any online MBA programs, make sure that the program is AACSB (Association to Advance Collegiate Schools of Business)-accredited. Many companies specify that an applicant’s MBA should be from an AACSB-accredited school. While other programs may have valuable instruction to offer, they won’t necessarily be as highly respected.

So how long does an MBA take? 2 years for a normal full-time MBA program, 4-6 years for a part-time MBA program, 2 years for an executive MBA program, and 1 year for an accelerated MBA program.

What’s Next?

Still deciding? For an overview of the pros and cons of getting an MBA, read our guide on what to expect from business school.

If you’re sure you’re ready to apply, check out our article on how to prepare for an MBA.

Our explanation of what MBA stands for will help you if you’d like more information on the history of the MBA and other graduate business degrees.

The post How Long Does It Take to Get an MBA? appeared first on Online GMAT Prep Blog by PrepScholar.

As you prepare to apply for business school, you might be wondering about online MBA programs, especially if you already have a busy schedule or family life. Some students are nervous about undertaking an MBA online and are worried about online programs’ reputations. Is an online MBA worth it? Are they respected by employers? How much do they cost? Bottom line, should you get your MBA online?

In this article, I’ll answer these questions and more about online business schools and help you decide whether a distance learning program could be right for you.

Are Online MBAs Real MBAs? 

When it comes to online MBAs, one of the first questions prospective business school students often ask is, “Is an online MBA real?” Some are concerned about whether the reputation of an online business school is impressive enough to land a job or whether potential employers will take it seriously.

The answer is yes to both questions! Particularly within the last decade, online MBA programs have become increasingly popular as institutions of higher education have sought to accommodate the busy lives of students and the increasing focus on digital technology in the business world.

Many online programs are highly regarded and regularly ranked by U.S. News and World Report and other publications. Temple University’s online MBA at the Fox School of Business has held the #1 ranking in the U.S. News and World Report for online business schools for three consecutive years.

As long as the business school you attend is accredited (more on that later), most employers won’t blink at your having received your MBA in an online format.

However, there are several downsides to attending business school online, and it’s not right for everyone. We’ll go over the pros and cons of online MBA programs next.

Is an Online MBA Worth It? 3 Pros and 3 Cons

Depending on your priorities and unique needs, there are both upsides and downsides to an online business school. Let’s go over the primary pros and cons you should consider when you’re wondering whether to get your MBA online.

Benefits of Online Business School

#1: Study Anywhere—and Work While You Do It

Flexibility is one of the key reasons that students choose online MBA programs. Classes are often scheduled in the evenings to accommodate daytime work. At other programs, you can complete coursework whenever you want, making your own schedule to fit your needs.

At many online programs, because schools aren’t restricted by on-campus schedules, you can take either less time (as little as 16 months, with summer courses) or more time (two and a half to three years) than the in-person average of two years full-time.

This kind of flexibility is especially useful if you already have a career and are looking to supplement your skills or education without detracting from that career. It’s also helpful if you’re aiming to switch fields and undertake specialized training in a particular area, but don’t want to quit your current job before doing so.

#2: Lower Cost

When you’re considering whether you should get your MBA online, you should always take cost into account. Many online MBA programs are lower-cost than in-person business schools. Most state universities allow you to complete online coursework at or near the in-state tuition rate rather than the non-resident rate, which gives you a broader, less expensive range of options.

The lowest per-credit tuition rate for an online MBA program in 2017 is at Fitchburg State University, where online business students pay only $177 per credit hour. While that’s exceptionally low, you can find many per-credit tuition rates of $400 or less at online MBA programs.

What’s more, since you can work full- or part-time while you take online MBA coursework, you won’t be sacrificing a salary while you study.

#3: An International Community of Faculty and Students

Many online MBA programs have both faculty and students from all over the world. Because there’s little or no face-to-face interaction in an online MBA program, most online business schools emphasize frequent digital interaction, check-ins, and classroom participation.

Interacting with instructors and colleagues from so many regions and backgrounds can enrich you professionally and personally, as you diversify your knowledge base and potentially find new opportunities to explore in other locations or digitally after you graduate.

Drawbacks of Online Business School

#1: Fewer Networking Opportunities and Internships

One of the biggest reasons that many students attend business school is to make connections. That can be tricky in an online program, since most students have other obligations and busy lives. Also, online students don’t participate in the kinds of on-campus clubs or projects that frequently bring peers and mentors together at traditional MBA programs. Is an online MBA worth it for you if it doesn’t lead to as many connections as another program?

Also, while many online MBA programs have solid reputations, at this point they’re not going to compare to, say, a full-time MBA from Columbia Business School or Harvard. The connections you have the opportunity to make at an online MBA are not likely to be as plentiful as those you might make at a more prestigious program.

To combat this problem, some online MBA programs combine distance learning with in-person intensives and/or internship and recruiting opportunities. At the USC Marshall School of Business Online MBA program, for example, MBA students kick off their studies with online reading and activities, followed by a six-day residential intensive that includes team-building activities and competitions.

#2: Less Immersion

Of course, since online MBA programs are part-time and involve limited or no face-to-face interaction, the experience doesn’t tend to be as immersive and all-consuming as a traditional full-time MBA program. This might work for you if you’re used to working independently, but some students struggle with this or are disappointed by the experience.

If you struggle with time management, prioritization, or focus, an online MBA program may prove difficult for you. Before you decide to complete business school online, make sure that you can carve out the time and energy to make your studies a major priority. If you want to earn an MBA online, it should be part of your daily life.

#3: Accreditation Issues

Any reputable MBA program, online or not, will be fully accredited. Accreditation ensures that an institution or program is providing an education and curriculum at a high standard of educational quality—one that’s equivalent to other schools offering the same degree.

“Fully accredited” means that a business school is both regionally and nationally accredited. In the United States, institutions of higher education are regionally accredited by the Middle States Association of Colleges and Schools, the New England Association of Schools and Colleges, the North Central Association of Colleges and Schools, the Northwest Commission on Colleges and Universities, the Southern Association of Colleges and Schools, or the Western Association of Schools and Colleges.

Business schools are nationally accredited by the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Collegiate Business Schools and Programs (ACBSP), the Council for Higher Education (CHEA), or the Distance Education Accrediting Commission (DEAC).

You should always make sure that a school is accredited before applying to an MBA program. All institutions of higher education have an accreditation page listing the agencies and organizations that have vetted them.

While most online MBA programs are accredited and thus equally respected in terms of the education they offer, occasionally they can be misleading or are not fully accredited. Always check to ensure that any MBA program you apply to is fully accredited.

Should You Get Your MBA Online?

Online MBA programs are ideal for students who have busy careers and/or family lives or can’t move to a different location for business school. Flexibility is the biggest perk of an online MBA program, so if you’re looking to complete an MBA program while fulfilling your other obligations, an online business school might be the best option.

If you’re wondering whether to get your MBA online, you should assess your own personality and skill sets. To succeed in an online MBA program, you’ll need to be a self-starter with excellent time management skills. It can be hard to focus your energies when you don’t have much (or any) face-to-face time in class, and when you’re trying to complete coursework on top of your other responsibilities.

Consider what kind of student you are before undertaking an online MBA program. Do you thrive on face-to-face interaction? Do you take a lot of initiative on your own, or do you prefer more guidance and check-ins as you complete projects or coursework? Before agreeing to earn an MBA online, make sure you’ll be able to make it a top priority and a major focus in your day-to-day life so that you can stay on top of everything you need to do.

An online MBA program will likely not be right for you if you don’t have much work experience, since full-time in-person MBAs place more of an emphasis on cultivating a network of colleagues and potential business partners.

If you, on the other hand, already have work experience and are looking to develop your business skills in a particular area or increase your chances of a promotion or higher earnings at your next position, an online MBA might be the best choice for you.

What’s Next?

If you’re still wondering if business school is right for you, our article on what an MBA program is and how to decide if you should get one will help. 

Wondering what kinds of MBA programs you’re likely to get into? Our guide to MBA acceptance rates will help.

If you’d like to go to business school without having to take the GMAT, check out our list of 67 MBA programs that don’t require GMAT scores.

The post Should You Get Your MBA Online? Is an Online MBA Worth It? appeared first on Online GMAT Prep Blog by PrepScholar.

MBA preparation is about more than just getting a great GMAT score. While setting and achieving your goal GMAT score is an important part of your application, there are many factors that go into crafting a competitive and compelling MBA application.

In this guide, I’ll help you understand how to prepare for MBA admissions by explaining what MBA admissions committees are looking for in their applicants. Based on those key goals, I’ve collected the best short- and long-term MBA preparation tips. You’ll learn how to maximize your MBA admission chances whether you’re planning to apply in a few years or just a few weeks.

What Do Admissions Committees Look for in MBA Applicants?

The MBA application process can feel very mysterious. What are admissions committees looking for? How do they decide between two applicants who have similar qualifications? And how can you as an applicant better understand how to prepare for MBA applications?

It’s worth getting to the bottom of these mysteries, since understanding what admissions committees are looking for will help you learn how to prepare for MBA applications. Luckily, the motives and goals of business school admission officers are less confusing than they may initially appear. While all admissions committees weigh different parts of the application differently, MBA programs are generally looking for the following qualifications in their MBA applicants:

#1: Applicants Who Will Succeed With Coursework

MBA programs are looking for applicants who will succeed with their coursework. MBA programs are often extremely rigorous and taxing. MBA programs are looking for applicants who will be able to not just survive, but thrive in that type of competitive and challenging environment. Programs judge your chances at success by looking at your grades in undergraduate and/or graduate coursework, as well as at your GMAT scores.

#2: Applicants Who Will Add An Interesting Perspective to Their Classes

MBA programs are focused on adding diverse and interesting perspectives to their classes. Adding diverse perspectives helps prepare students for unique situations and creates a more holistic classroom environment. Having a unique experience or area of expertise can help your application stand out from the crowd. Examples of interesting experiences include working in different parts of the world, volunteering with diverse groups of people, or specializing in a unique type of undergraduate research.

#3: Applicants Who Can Get A Job After Graduation

MBA programs want their students to get jobs after graduation. Obviously, all MBA programs want their applicants to be successful and getting a job after graduation is a big part of your success. MBA programs are also ranked based on how many of their students get jobs. Having a higher percentage of students succeed in getting a job will contribute to their higher rankings.

Similarly, MBA programs have often built strong relationships with different companies. They are looking for applicants that these companies will want to hire, so that the program can continue feeding talented students into open jobs. 

5 Long-Term Tips for MBA Preparation

Preparing for your MBA application is a lengthy process. An MBA admissions committee will look at your history as a student and employee over many years when considering whether or not to admit you. Because admissions committees consider so many factors on your application, it’s important to start preparing well before you submit your application. Here are some long-term tips for MBA preparation.

#1: Focus on Getting a High GPA in Your Undergraduate Coursework

Having strong grades in your prior coursework is a strong indicator that you can handle the rigorous coursework of an MBA program. Focus on keeping your GPA high in your undergraduate, and any graduate, coursework. The average GPAs at top schools are between 3.5 – 3.7, so work towards achieving a GPA in that range to be a competitive applicant, or higher, to make your application stand out.

#2: Apply for Competitive, Brand-Name Jobs and Programs

Having a competitive job or internship on your application is a great way to make yourself stand out as an applicant. Large and recognizable companies like Coca-Cola, Disney, and Google are great places to build your professional experience. For instance, interning as an undergraduate with a well-known consulting group like Accenture will help your application because MBA programs are familiar with these companies and often have their own relationships with them. If you’ve been out of your undergraduate courses and working for some time, having a job at a brand-name company will show that you can handle working with a competitive experience.

#3: Take on Complex and Interesting Roles

Taking on a complex and interesting role in your place of work is another great way to show your skills. If you’ve taken on a role that gives you a lot of responsibility or a diverse perspective, you’ll stand out among other applicants.

Examples of complex, interesting roles include leading a team at your workplace or spearheading an unusual project. Taking on these roles shows that you’ve got the initiative and work ethic to be a strong MBA candidate.

#4: Build a Track Record of Leadership

MBA programs look for applicants who will be leaders in their fields. As such, building up your track record of leadership will demonstrate that you’re interested in leadership roles and capable of taking them on and succeeding in them.

Look for leadership roles at your undergraduate institution, such as being the president of a club or sports team. You can also look for leadership opportunities at your place of work, such as leading a particular initiative.

#5: Build Strong Relationships with Supervisors and Colleagues

Building strong relationships with supervisors and colleagues will help you prepare for MBA applications. You’ll look to these people to get detailed, personal letters of recommendation to supplement your application.

Admissions committees rely on recommendation letters because your supervisors and colleagues are very familiar with your work ethic and achievement and can often speak to why you are such a good applicant. Having great letters of recommendation will help you be competitive at top business school programs.

Short-Term Tips for MBA Preparation

In the final year before submitting your MBA application, it’s important to take several steps to fully round out your application. In this section, I’ll be talking about steps you should take in the year and months immediately before submitting for your MBA.

#1: Study for the GMAT

MBA programs use the GMAT as a way to further assess your academic performance and preparedness. Setting a goal score for the GMAT and studying to achieve that goal score will help you be competitive with other applicants to the MBA program of your choice. As more and more students study for the GMAT, average GMAT scores are rising. It’s important that you spend quality time studying for the GMAT to make sure you’re matching the scores of other applicants.

#2: Address Any Issues in Your Application

As you’re getting ready to submit your application, take some time to think about any issues you have. For instance, are you lacking in leadership roles? Do you have some bad grades in a particular subject areas? If you’re lacking in leadership rules, you’ll want to take on a project or get involved with an organization in which you can take on some more responsibilities. If you have a low GPA or a few especially bad grades, you may consider taking some post-graduate coursework at a local community college or somewhere else where you can show improvement in your grades.

#3: Work on Creating a Clear Narrative in Your Essays

Essays are a great way to give an admissions committee more insight into who you are as a person. Think about what narrative you want to present to the admissions committees. What story do you want to tell about yourself? What do you think is most important for admissions committee to know? Spend time planning for and crafting a compelling essay that’ll help an admissions committee get to know you better.

Review: How to Prepare for MBA Applications

While MBA admissions criteria may seem confusing, they’re actually fairly straightforward. MBA programs are looking for applicants that will succeed in their classes, add a unique perspective to other students, and secure a job after graduation.

You can prepare for MBA applications by developing the skills and achievements that will show MBA admissions committees that you’ll thrive in their programs. Focus on building the strength of your application in the long-term by getting good grades and building your professional experience. In the year before your application is submitted, work to achieve a strong goal GMAT score, while addressing any issues in your application and crafting a compelling personal essay.

What’s Next?

Many MBA admissions committees prioritize GMAT scores over all other parts of an applicant’s application. Wondering how your GMAT scores stack up against other applicants for business school? Learn about the average GMAT scores for different MBA programs to see how you measure up to other people who’ve applied for admissions.

Looking to boost your GMAT score to become a more competitive applicant at the MBA program of your dreams? Our study plans can help. Our guide to creating your GMAT study plan offers four templates for creating a GMAT study plan to meet your needs.

Concerned about paying for business school, which can be a costly and difficult process? In our guide to GMAT fee waivers, we offer advice for how to save money on your GMAT fees, as well as tips and tricks for saving money at other parts of your MBA admissions process.

The post MBA Preparation: The 8 Most Important Tips for Applying appeared first on Online GMAT Prep Blog by PrepScholar.

You probably know that the MBA has something to do with business school. But what does this acronym actually stand for? Beyond the acronym, what does the degree mean, and how has its reputation changed over the years?

This guide will answer all of these questions to give you a solid grounding in the MBA degree. Plus, you’ll learn about all of the other options for Master’s degrees in business.

Let’s kick things off with the million dollar question, what does MBA stand for?

What Does MBA Stand For?

MBA stands for Master of Business Administration. It’s a professional degree for students who want a comprehensive education in key areas of business. A business school curriculum often involves classes in accounting, finance, marketing, management, operations, statistics, information technology, human resources, internationalization, and business ethics.

Most MBA programs last for two years, though you may be able to find an accelerated option that grants you your degree after 12 months. Individuals who can’t commit to a full-time program may study for their MBA on nights and weekends and earn their degree gradually over time.

Many schools also offer year-long executive MBA programs for executives who already have a high level of specialized experience and are preparing for senior leadership roles.

These executive programs allow students to specialize in specific areas, such as business operations, customer-centric strategies, globalization, social enterprise, or marketing and sales. Those who complete an executive program graduate with their EMBA, or Executive Master of Business Administration.

The MBA is a highly regarded degree in the business world today, but how did it acquire this status? Now that you know the MBA meaning, read on for the history of the degree and how it’s changed over the years.

MBA Degrees: Over 100 Years of History

The MBA hasn’t always enjoyed the prestigious reputation it has today. In fact, when it first started in the early 1900s, many people were skeptical that business management could be taught in a classroom or that it should be put on the same level as medicine or law.

With all of the changes of the Industrial Revolution, though, there arose a clear need for professionals who were skilled in business leadership. The first school to address this need was Dartmouth College, which established the Tuck School of Business in 1900 and offered the Master of Science in Commerce program to just a few students.

The first MBA program (and appearance of our favorite acronym) started at Harvard College in 1908. The program had 15 faculty members and awarded eight students an MBA degree after two years of study.

Over time, MBA programs grew popular around the U.S. and world. In 1921, Shanghai College of Commerce became the first business school in China. Canada offered its first MBA program in 1950, and France became the first European country with an MBA program in 1957.

Most of these programs excluded women for decades. It wasn’t until 1962, for instance, that Harvard began admitting women directly into its MBA program at the Harvard Business School.

Although MBA programs became firmly established in the world of graduate education, tension remained around whether business skills could truly be taught in a classroom. Some business professionals looked down on business school education, claiming that it was too theoretical and lacked practical applications.

Business programs have continued to adapt to make their curriculum ever more applicable to real-world skills. Today, programs tend to include hands-on training and internship opportunities, plus they place more and more emphasis on interpersonal communication, leadership, globalization, and business ethics and morality.

MBA programs also now come in a variety of shapes and sizes. Some are full-time, two-year programs, while others offer part-time study, specialized training for executives (the EMBA mentioned above), or courses that are conducted entirely online.

MBA programs have changed substantially over the years, and they will continue to adapt along with changing economies, technological development, and the call for increased specialization.

While MBAs are the most sought after business degree, there are a few others that you can earn at business school. Read on to learn about alternative Master’s degrees in business.

What Other Master’s Degrees in Business Can You Get?

While you may immediately think of an MBA when you think of business school, that’s not the only option for a Master’s degree in business. There are other one-year or two-year programs for students looking to specialize in a certain field.

Here are four of the most popular Master’s degrees in business besides the MBA.

#1: MSF, Master of Science in Finance: for those interested in financial management and investment management. You could specialize in fixed income, corporate, or real estate finance, to give a few examples.

#2: MAcc, Master of Accountancy: for those interested in public accounting. Specializations include tax, managerial, and financial accounting. Students may become certified public accountants (CPAs).

#3: MS MIS, Master of Science in Management Information Systems: prepares students for management in the field of information technology, especially in the IT development process.

#4: MBM, Master in Business and Management: similar to the MBA, but more geared toward recent college graduates. MBA candidates, on the other hand, usually have at least three years of work experience.

In addition to these popular degrees, there are several other Master’s degrees in business. This chart shows the acronym for each degree and its full name.

Many business schools also offer doctoral programs. Degrees include the following.

As you can see, there are quite a few degree programs for business students. If you’re interested in business, your first steps should be researching your options and figuring out which one best aligns with your professional goals.

Now that we’ve answered the million-dollar question of “what does MBA stand for” and gone over a brief history of the degree, is there anything else you need to know about this business school distinction?

Final Thoughts: MBA Meaning

Now that we’re well acquainted with this business school degree, we know that MBA stands for Master of Business Administration. If you complete an MBA program, then you will indeed be a Master of everything business-related.

Business programs are designed to teach you skills of entrepreneurship, leadership, management, and finance. You’ll learn how to navigate our globalized economy and take an ethical approach to complex business decisions.

If you have a specialized interest in finance, accountancy, or other field, then you may gravitate toward an MSF, MaCC, or other Master’s degree in business. Whatever you choose, you’ll be gaining a prestigious degree with global recognition.

What’s Next?

If you’re applying to business school, then you’ll need to take the GMAT or GRE. Which one should you choose? Check out this guide to weigh the pros and cons of the GMAT and GRE and decide which test to take for business school.

Do you know what’s on the GMAT? Consider this guide your full introduction to the structure, skills, and timing of the GMAT.

How is the GMAT scored? Check out this full guide to the GMAT scoring system, with bonus tips on what scores you need to get into business school.

The post What Does MBA Stand For? Full Explanation of MBA Meaning appeared first on Online GMAT Prep Blog by PrepScholar.