Five Signs You’re Ready for an MBA

How to Know the Time Has Come to Apply

Is it time for anMBA?

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With tuition for an MBA from a leading business school topping $110,000, choosing when to apply is not a decision to be made on a whim.

Besides, without the right combination of forethought and experience, your candidacy won’t be strong enough to gain admission to these exceedingly competitive programs. Obviously, other opportunity costs and personal considerations must also be factored into the equation.

Simply put, determining just the right time to pursue an MBA can be hard—which is why we’ve assembled the following checklist to help you. Let these signs serve as indicators that your time to apply may be drawing near.

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#1

You can clearly demonstrate what you bring to an MBA classroom and campus.

Most top-tier business schools are looking for candidates who can add significantly to classroom discussion through first-hand experiences gained in the working world. While some schools are admitting younger students with less time on the job, they generally do so only when a candidate can show an accelerated career path and/or unique work or life experience. Historically, leading schools have looked for an average of five years of work experience for full-time programs and seven to thirteen years for part-time and executive programs. Rarely do they admit students with fewer than two years of full-time work under their belts.

Historically, leading schools have looked for an average of five years of work experience for full-time programs and seven to thirteen years for part-time and executive programs.

Why? Keep in mind that while you are looking to pursue an MBA because of what you want to learn, business schools are looking for what you have to offer. The ideal business school classroom brings together students from diverse backgrounds and industries to share best practices and skills developed in the trenches. Admissions officers will look for you to have as much to contribute as you have to gain. Likewise, the admissions committee will use the progression and milestones of your career—as well as your supervisor’s assessment of your work impact and leadership potential—as important factors in deciding whether they feel you’re ready for their program.

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THOUGHT STARTERS FOR THE MBA APPLICATION PROCESS

The following questions are designed to help guide your thinking as you contemplate business school.

#1Where do you want the MBA to take you?There’s no need to know definitively that you want to lead alternative asset management for a hedge fund, but narrowing down the industry or industries you’re interested in will help you both in the application process and when you arrive on campus.

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