Getting in: an overview
According to Greek mythology, the entrance to the underworld was guarded by a monster with three heads, known as Cerberus. And perhaps not coincidentally, if you are looking to get into a top-tier business school, you will also have to make it past a three-headed monstrosity, known as the MBA admissions process.
The first challenge is the GMAT, the 4+ hour long aptitude test brought to you by the same nice folks who invented the SAT. The second challenge is the MBA application, where you will need to write a number of concise and powerful personal essays obfuscating your lack of achievements. The third and final challenge is the in-depth personal interview with one or more emissaries of the Admissions Office, the good news being that they are no longer permitted to use waterboarding.
The process is tough, and rejection is the norm. The top-tier schools especially have a lot of qualified applicants vying for the same, limited number of places. For the smaller top-tier schools, like Stanford with their class size of 200 or so students, this can translate into rejection rates between 80 and up to 95 percent.
For you, as a potential applicant, this means two things:
1. You won’t make it if you don’t give it your best. A half-hearted effort is basically a waste of time.
2. You should apply to more than one school. Anything else is a needlessly high-risk strategy.
In future posts, I will give you the highlights on each of these three challenges, along with some advice on campus visits. [Update: GMAT post online]. For now, the most important thing about all this is to start early. It takes time to prepare for the GMAT and write the essays, and on the school side, it also takes time to process your application. Most people start preparing about one year before they plan to start the MBA. It can be done on a shorter notice than this, but only at an increased risk of rejection.
Having said that, if you are thinking about getting an MBA, but haven’t yet been through the admissions process, you should actually start another place: namely by asking yourself, should you even take an MBA? Depending on your goals, the answer is not necessarily yes. (Posting on this to follow later).
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