Preparation

MBA.com

This website can provide an applicant help from start to finish. There are tools to help applicants select which schools provide appropriate programs (i.e., which schools have a more quantitative focus versus qualitative focus; which schools are known for finance versus marketing) and also help students compare across a wide selection of potential programs. MBA.com also provides advice on taking the GMAT and crafting your application. Once decision letters start arriving, MBA.com can also help candidates make decisions and learn about financing options.

GMAT

The GMAT (Graduate Management Admissions Test) is the standardized test which all business schools require their applicants take. The exam consists of a verbal, quantitative, and analytic essay section. The test is scored from 200 – 800, and “good” scores are generally considered to be those above 600. The top tier schools generally look for scores above 650, although that is not a firm cut-off. The GMAT, unlike the SAT or ACT, is administered electronically, and is an “adaptive” test. That is, the difficulty of each question is dependant upon how you did on the prior question. More difficult questions are worth more, and you are not penalized for incorrect answers. One of the bigger challenges of the adaptive format is not being able to go back and revisit questions, or attack questions that seem easier first and then go back to the harder questions. For this reason, practicing the GMAT using a simulated electronic format is especially important. It is also important to understand the acceptable keystrokes and commands so as to avoid wasting time on test day.

Identifying Schools

Just as with the college search, it’s important to identify what you want and need from your MBA program. Once you have identified these criteria, you can begin to search for schools that meet them. The Princeton Review site includes a set of questions that will guide students in the generation of a list of potential schools. Once a list has been generated, students can get information on schools in categories such as Student Feedback, Programs and Curriculum, Statistics, Career Placement, Rankings, Other Recommended Schools, and Scholarships and Financial Aid. After generating a list and reviewing the comments on the Princeton site, visiting the school’s website and requesting information is a recommended next step. Once you’ve narrowed your list down, if possible, visit the schools. Visits are invaluable as they allow you to sit in on classes, meet with students, and generally get a feel for the school and whether or not you’ll be comfortable. U of C alumni are also another invaluable resource. Use the Alumni Careers Network available through the Career Advising and Placement website to contact alumni who attended the business schools you are interested in. They will be able to answer questions you may have about topics such as what their transition was like from the U of C to business school.