So does this basically amount to “guaranteed” grades?  Well, in some respects I guess it does. On the other hand, it is assumed that people at a Graduate School level should be performing at least at this level.

Does this mean that you can simply “coast” through grad school and get your MBA without even trying?  Not hardly.  Most MBA classes have a “participation” component – even those online.  Don’t participate in class and you don’t get a passing grade.

It’s a very different grading system that many people are accustomed to but it does its best to mirror how the “real world” operates.  In the real world, there is no extra credit for effort.  You either pass or you don’t.  If you pass, it’s either by a little (ie: you get a B) or by a lot (ie: you get an A).  Anything other than that is just not acceptable.  Same thing in Grad School.

One of the reasons for this is that the entire philosophy is different.  In college, the emphasis is on learning and memorizing the “tools of the trade” – algebra, history, English, accounting, and so on – and then being able to recite them back in the proper order on a test.  You were then graded based on your answers to the test.

Grad School is different.  It’s assumed that you already have the basics down.  What Grad School concentrates on is the application of the information, not necessarily on the information itself.  It doesn’t really matter whether or not you’re an “expert” in accounting, for example, so long as you can apply the proper accounting principles to a company in a case study.  That’s the different between “knowing” information and “applying” information.

The bottom line is that in Grad School, you really don’t have to worry about failing a class (unless you really intend to).  Since the emphasis is on the application of knowledge, not the memorization of it, grades seem to lose a lot of their importance.

Don’t get me wrong.  You still have to study.  It’s still hard work.  The difference is that you’re not trying to get an A just for the sake of getting an A.  Your emphasis is on actually understanding the material.

Hiram

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So what’s up with that?  In their HBR article “Women in Management: Delusions of Progress,”  authors Nancy Carter and Christine Silva found that, although as a society we’ve come a long way, many of the gender biases are still alive and well in the workplace.  The biases may not be as obvious and overt, but they’re apparently still there.  It’s hard to look at an average $4,600 difference in pay and come to any other conclusion.

Looking at the data, Carter and Silva discovered that when women started their careers, they tended to start at lower levels than an equally qualified man did.  They also tended to stay in positions of lower responsibility and lower pay longer than men did.

All of the data in the study was “normalized” so that the researchers were looking at people with equal resumes:  equal qualifications, equal experience, and so on.  The only difference was gender.  The conclusion was that women tend to start out behind men in pay and that this gap widens as their career unfolds.

Although the article went a long ways towards documenting the problem, it didn’t really offer much in the way of solutions – other than the standard researcher’s reply of, “more research is needed.”  Maybe just being conscious of the problem will help avoid it.

What do you think?

Hiram
MBA, University of Houston 1989

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The website Poets and Quants has done the research and put together a table showing the approximate cost of a two-year MBA program at 20 of the tops business schools in the US.  What makes this table unique however, is that they’ve also included the percentage of students receiving some kind of financial aid as well as the average amount of aid.  That can make a huge difference.

For example, a Harvard MBA will cost you around $159K.  That’s totally out of the question, right?  Well, it was surprising to me to find out that 63% of students get some sort of financial aid averaging $113K.  All of a sudden, Harvard isn’t totally out of the question.

But before you send off your application, there’s one caveat you need to be aware of.  The term “financial aid” can mean a lot of different things with each school putting their own spin on the term.  Some schools have significant endowments and can provide paid fellowships or stipends to students that don’t have to be paid back (as long as you continue to meet the scholastic requirements).  Other schools simply package various types of student loans that need to be paid back with interest.  Make sure you fully investigate this so that you can make an apples-to-apples type of comparison.

According to Poets and Quants, the average cost to complete an MBA at the following top 20 schools are as follows:

SOURCE: Poets and Quants

You can read the full article at the Poets and Quants website by clicking here.

Hiram
MBA, University of Houston 1989

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There are a lot of books on the market that aim to cover the content of the GMAT. Rarely does such a book provide an thorough strategy for studying, preparing, and attacking the entire test.

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Here, in no particular order, are the top ways most students pay for their MBA’s:

1.  Pay as You Go. The majority of people pay for their higher education the old fashion way – out of their own pocket.  I was working full-time, trying to raise 2 teenager boys, AND was trying to carry a more-or-less full class load: all at the same time.  I am definitely not a unique case.  If you’re really serious about completing Grad School, you’ll find a way to work for and come up with the cash.  It’s “old school” and extremely difficult at times but you get a debt-free degree at the end.

2.  Ask Mom and Dad. Your parents may be in a position to help out with Grad School.  However, keep in mind that by the time you’re ready for Grad School, your parents are probably getting ready to retire.  They’re probably trying to figure out how they’re going to take care of themselves on a fixed income, much less how to take care of you so make sure you take this into consideration.  Again, this varies from family to family but it is an option.

3.  School Payment Plans. Most universities offer flexible payment plans that break up tuition into several, easier-to-digest, payments throughout the semester.  These are usually available at no, or at very little, interest.  To take advantage of these, make sure you contact your school’s Financial Aid office WELL BEFORE the semester begins.

4.  Employee Benefits. If you’re working, either full or part time, make sure you check with your employer to see if they offer, or would be willing to offer, any tuition reimbursement benefits.  Many companies recognize the benefit of having employees pursue higher education and are willing to contribute in a variety of ways, from allowing you paid time off to actually paying some or all of the cost of some classes.  Note that most employers offer reimbursement programs.  This means that you still have to come up with the money to pay for the class in the beginning.  You get reimbursed when you pass the class.  Also, most employers will only pay for classes that have some relevance to your job.  Don’t expect to get reimbursed for that pottery class, for example, unless you actually work for a pottery company.  Lastly, some employers see this as a no-interest employee loan and may require that you continue working for them for a period of time in order to “forgive” the loan.  Make sure you ask about and understand all the provisions of your employer’s educational assistance program.

5.  Sallie Mae Loans. The Financial Aid Office of your university can also make you aware of any federal student loan and/or grant programs that you might qualify for.  The paperwork is a real chore but has actually been streamlined from years past (as if that’s any consolation).  Repayment of most loans of this type does not kick in until after you graduate.  However, the fact that repayment is so far in the future lulls many people into thinking that they’ll never have to worry about it.  Believe me, the day your payments are due to begin will eventually come – usually sooner than you think and never at a good time.  Make sure you’re ready.  Also, you should note that these types of loans DO NOT GO AWAY if you ever declare bankruptcy so again, borrow only what you’ll eventually be able to repay.

6.  State and Local Programs. Many States have their own programs that you might qualify for.  Most of my MBA was paid for by a Texas program for veterans attending State universities – I say “most” because the program only covered tuition costs.  I still had to pay all the various student and lab fees, books, parking, and other expenses out of my own pocket (about 60% of the total cost).  Again, your school’s Financial Aid Office should be able to give you details on what’s available and how to apply.

7.  Traditional Bank Loans. Many banks and credit unions offer educational loans.  Their terms and interest rates will vary significantly from bank to bank so make sure you shop around.  Your school’s Financial Aid Office may be able to recommend where you can get some of the best terms.  Keep in mind that no matter what the bank calls it, these are still traditional loans in that you will still have to put up some collateral to guarantee the load – either that or your parents will have to co-sign.

Although you’ve got a number of places to go to look for help in paying for your MBA, here is some final advice that applies to them all:

1.  Line up as many sources as you can. Most students end up with a combination of money sources.  I ended up (a) self funding, (b) taking advantage of Texas’ veteran program, and (3) using my schools payment plan to spread the payments over several months.  I also had a few classes that applies to my current job reimbursed by my employer (4).  Whether or not you think you actually need the money, go ahead and apply.  Always better to have it and not need it…..you know the rest.

2.  Apply Early. The application process for any kind of loan or grant is never quick nor painless so plan ahead.  Otherwise, you might have to sit out a semester.

3.  Get a Financial Advisor – even if it’s your Dad at first. Getting an MBA is a huge investment in terms of time, and of course, money.  You cannot get enough advise from enough people.  Ask your parents.  Ask your school’s Financial Aid Office.  Ask your banker.  Ask your employer.  Make sure you know EXACTLY what the various loans are going to cost you – in repayment terms, in interest, or in a time commitment at a particular job.

4.  Don’t Overborrow. Remember that all these loans will have to be repaid someday.  What if the MBA job market craters just before you graduate?  What if the Stock Market crashes?  What if you get married/divorced/pregnant/or any one of a number of life-changing events?  How will you repay your loans then?  Make sure you think ahead because you’ll be done with school and out in the job market before you know it.

Hiram
MBA, University of Houston 1989

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The personal statement is the single most important part of a graduate school application, and yet very few applicants know how to write one that will gain them admittance to the program of their choice. The third edition of this highly successful book can change all that by showing readers numerous ways to greatly improve their essays.

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“I think not only is getting an MBA a waste of money and two years of your life; it may also, in fact, reduce your chances of building a successful business.”

He then goes on to list the 4 reasons why he thinks an MBA is bad for those wanting to become, or who already are, entrepreneurs.  The 4 reasons are:

1. MBA Programs teach causal reasoning
2. MBA Programs teach adaptive thinking
3. Your fellow classmates will not be entrepreneurs
4. Don’t waste 40% of your “risk free” time in a classroom

The main point of John’s article is that basically that an MBA teaches you how to better run a company, not necessarily how to create one from scratch.  An MBA teaches analysis, logic, and structure while an entrepreneur, a true entrepreneur, tends to thrive in a world of creativity, visioning, and chaos.  Since I have (and fought hard for) an MBA, you’d think I’d take offense.  However, I’ve come to agree with Mr. Warrilow 100%.

I came to this conclusion while reading an excellent book titled, “Win: The Key Principles to Take Your Business from Ordinary to Extraordinary” by Frank Luntz.  In the early part of the book, he talked about the difference between a manager and an entrepreneur.  A manager tries to improve their business while an entrepreneur on the other hand, seeks to transform their business (or the entire industry).  If you improve your business by reducing costs, improving efficiencies, creating synergies, etc – basically all of the “tools” an MBA provides – you help the bottom line incrementally.  This can translate into a 5-10% improvement to the bottom line.  Although this is certainly significant, it’s hardly “break out the champaign” time.

When you transform your business or industry however, you completely change how the business (or industry) operates.  You change how goods and services are ordered and/or delivered.  You change how the market uses your product or service – or you create a product or service that the market doesn’t even know it wants and needs yet.  When you transform your business, you can change the bottom line by orders of magnitude.  Instead of increasing profits by 5-10%, you increase them by 10 or 15 times.  Now THAT’s something to celebrate!

When I looked at my own business, the first question that popped up was, “OK, so how do I actually transform my business?”  Between my partners and I, we  had already ironed out every efficiency we could possibly find.  We had already cut every cost we could identify.  And yes, we had helped our bottom line incrementally.  But how to transform it?  That was a question where my MBA training failed me.  How do I totally transform how my company functions? There’s no way to calculate NPV on that, there’s no way I can build a spreadsheet to model it, there’s no BCG-matrix I can use to help answer that question.

And that’s where John Warrilow’s article hit home.  Getting an MBA had taught be how to become a better manager.  It gave me a framework with which to analyze the financial impact of various decisions.  However, it did nothing to improve my creativity.  There were no tools on how to create a vision of something that didn’t yet exist.

So do I think getting my MBA was a waste of time?  Absolutely not.  An MBA is simply a tool (or more accurately, a set of tools).  Like most tools, it works great in some areas and not so good in others.  The key is in knowing when and where to use the right tool.

Is an MBA right for you?  That depends totally on you.  If you see yourself as a manager or a leader of others, if you see yourself working within an established business and working your way to the top, if you get satisfaction from taking an existing system or process and making it better, then an MBA might be exactly what you need.  On the other hand, if you see yourself as a designer or creator (as opposed to a manager), if you’re a “lone wolf” (as opposed to a group leader), if you can “see” what other people can’t even imagine, then an MBA will be the proverbial round-peg-in-a-square-hole for you.

The world needs both professional managers as well as independent and “way-out-there” creative entrepreneurs.  The best thing you can do is to figure out which one you are.  Once you do, the correct path to take from there will be obvious.

Hiram
MBA, University of Houston 1989

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A brilliant, not-to-be missed account of the reasons why management thinks the way it does—and why they are flawed.

If CEOS, consultants, top managers, and other financial wizards are so smart, how come they screw up so badly? Why is there no correlation whatsoever between a business school education and success in business? Why might you be better off studying something as irrelevant as—philosophy?

In The Management Myth, Stewart offers:

• An insightful romp through the entire history of thinking about management, with memorable sketches of Frederick Winslow Taylor, Elton Mayo, Peter Drucker, Michael Porter, Tom Peters, and other management celebrities
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• A clear explanation of why the MBA usually amounts to so much BS

With wit and wisdom, Stewart makes an electrifying case that the questions and insights of management theorists belong not to the sciences but to philosophy, and that, in the final analysis, “a good manager is nothing more or less than a good and well-educated person.”

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Mistake #1: Enroll Into an Unaccredited Online MBA Program

Many online students are enrolled in an online MBA program because they are attracted by the program features, cost and some un-verified guarantees advertised by the online university.  These advertisements may be published by diploma mills for the purpose of squeezing your money with an exchange of fake a MBA degree that’s worth nothing.  These types of MBA degrees are not accepted in the job market.  Try to imagine what the consequences would be if you carried this fake MBA to apply for career switch or job promotion.

It is important that you enroll in a proper, accredited online MBA program where the accreditation agency is one that is recognized by the US Department of Education.  A proper accreditation is a “qualify assurance” of your MBA degree and many employers are using this benchmark when they review the MBA degree of their candidates.  Hence, always spend the time to confirm the accreditation of the online MBA program that you are interested in.

Mistake #2: Enroll Into MBA Program with Wrong Specialization

MBA degrees cover a wide range of specializations. You can choose an MBA program with a specialization or concentration that is related to your career goal.  Many online MBA students do not realize that they have many options in selecting their MBA specialization.  Most students select a common specialization such as marketing, finance or business management and these specializations can certainly provide you with the necessary basic knowledge to prepare you for managerial job promotions.  However, if you choose an MBA specialization that is more closely related to your career, you can maximize the value of the MBA degree because it will contain courses that are directly related to your working field.

For example, if you are in the healthcare industry, an MBA program with a specialization in Healthcare Management may be more appropriate than MBA program with a specialization in Business Management.  Get the full information on the available MBA options before you sign up for any online MBA program so that you have the chance to select the specialization that best fits your career goal.

Mistake #3: Loose Focus on Their Online MBA Study

Many students will easily lose focus on their MBA study if nobody “looks over their shoulder” and many end up unable to complete their MBA study.  An online MBA program provides you with flexibility to plan your own study schedule but it may easily cause you to neglect your assignments, course work or projects if you are the kind of student that requires attention and motivation from instructors or lecturers to keep you focused on your study path.

If you are planning on getting your MBA online, then you should manage your time properly coordinating work, social and family life, as well as your study time and then stick to your schedule firmly so that you stay focused.  You can ask your spouse or family members to act as coaches or motivators so that you don’t get off your study track.

Mistake #4: Paying the MBA Program with Their Own Money

An MBA is the most common master business degree, and one that has a large number of financial aid and grant programs, especially from employers.  Many online MBA students may not realize that there are many financial options available to help fund their MBA degree, either in part or in whole.

If you are a working individual who is enrolled in an online MBA program, check with your company for any available tuition or continuing education benefits.  In addition, many colleges and universities provide financial aid for their students.  There are many online and offline resources to help you find qualified financial aid programs.  So get your online MBA study funded by these financial programs and save your own money for other purposes.

Summary

An MBA is the best degree program to help your career advancement and is one you should seriously consider.  However, make sure that you do your homework and avoid the basic mistakes listed above.

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So you want to go to business school…An MBA prepares you for a multitude of careers— and for life. Whether you want to be a financial analyst or the next Steve Jobs, this book tells you when, why, and where to apply for the B-school that’s right for you.

Based on BusinessWeek‘s famous rating system, this at-a-glance guide answers all your questions, including:

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First-year post-MBA base salaries and salary increases

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Tuition and fees, living expenses, and total program cost

Is it the right fit?

The best program, teachers, and schedules for you

Do I have what it takes?

GMAT scores, work experience, selectivity, and other stats

With Web links, phone numbers, application requirements, and visitor info, this guide is all you need to get into your program of choice-and get on the fast track for life.

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Your MBA Game Plan: Proven Strategies for Getting into the Top Business Schools

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“…one of the better guides” – “The Guardian” The 16th edition of “Which MBA?”, the comprehensive and authoritative guide to choosing the ideal MBA, reflects the ever-increasing range of options in the business education marketplace, away from one-size-fits-all approach to diversity and choice. This 16th helps the reader understand the range of options available in executive education and what sort of program would be most appropriate to their goals and constraints. “Which MBA “offers”"an unbiased and detailed assessment of MBA programs worldwide. It also features a first ever ranking of distance-learning programs, a rapidly growing sector.

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However, the same caveats apply as do when evaluating any MBA program.  Make sure you deal with programs that are nationally accredited only – and make sure that those “national accreditations” are recognized in the US (or wherever you plan to work).

Hiram

Oklahoma City, OK (PRWEB) November 14, 2005

Canada is a leader in business education, and its schools are recognized throughout the world as some of the best for higher education.

Canadianmba.com is the official website presenting the top Canadian MBA programs and provides interested students the information needed to choose the best school for acquiring a graduate degree. Canadiamba.com gives you all the information on the top 9 Canadian MBA programs as well as access to information about Canada and why it is one of the best places to live and learn. The schools that you find on Canadianmba.com are acknowledged for their quality of programs, diversity of student population and international competitiveness.

Obtaining a degree from a business school in Canada will give you the education you seek in a secure, peaceful, multicultural environment. Canada offers a tremendous range of business schools: large and small; English, French or bilingual; in cosmopolitan centers or smaller cities; from the more temperate west coast to the four seasons of central Canada. Canada is a country of choices.

Students from all countries and cultures benefit from the high quality of education that these top 9 MBA programs offer. The multicultural environment aids students in developing knowledge of international customs and business related programs while engaged in a dynamic learning environment. Explore the choices that are available through quality Canadian MBA programs and become a leader in the business world through the superior education and training.

Join the leaders of tomorrow by receiving your MBA degree in Canada.

Visit http://www.Canadianmba.com.

Produced for the 50th Anniversary of the Faculty of Commerce and Business Administration (the Sauder School of Business), this video features stories about our commerce and MBA programs. Meet alumni and current students. Also featured is Dr. William Sauder, for whom the Sauder School of Business is named. (University of British Columbia, UBC, Vancouver, Canada)

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Winner of the 2010 International Book Awards (“Business Careers” category)

SECRETS TO GETTING INTO BUSINESS SCHOOL helps candidates develop the skills and mindset needed to prepare a first-class business school application. This material is based on a simple but powerful observation: Applicants who apply successfully to business school master of a finite number of the most important application skills and strategies. What are these skills and strategies? The answer to this question is the basis of this book. Readers will find 100 easy-to-follow tips and a complete range of sample documents, including 60 sample application essays covering all ten major MBA essays types, as well as exhibits highlighting relevant application documents: sample letters of recommendation with critiques; an interview evaluation form complete with interviewer’s comments; an interview thank-you note; sample employment records and professionally formatted resumes; and extracurricular presentations showing how candidates present their awards and recognition, community service, collegiate activities, and hobbies and interests.

Note to readers: Secrets to Getting into Business School was formerly titled 88 Great MBA Application Tips and Strategies to Get You into a Top Business School and is effectively a third edition book. This material, created and taught by the author, originally served as the course manual for Kaplan Hong Kong’s “Getting into Business School” course.

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Veteran higher-education consultant Donald Asher demystifies the graduate school application process and offers a detailed action plan that has proved successful for some of the most competitive programs in the country. The 50 sample essays-selected from thousands of candidates-showcase the best of the best, while the Essay Hall of Shame identifies common pitfalls to avoid. Sample letters of recommendation and essays for scholarships, residencies, fellowships, and postgraduate and postdoctoral applications cover all stages of the application process.

Teaches how to craft a winning essay with 50 state-of-the-art samples to inspire, instruct, and all but guarantee a top-of-the-pile application. Updated third edition includes an entirely new chapter dedicated to online applications and how they’re managed, processed, and considered. Previous editions have sold 100,000 copies.

From the Trade Paperback edition.

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Don’t let your dream business turn into a nightmare: A Cautionary Tale for Would-Be Entrepreneurs

Do you think you have a good idea for a business? A really good idea ? something that has never been done before? Do you imagine that, if you could just get that idea of yours off the ground, it would really take off? And you just might become the next Bill Gates, Founder of Microsoft, or Michael Dell of Dell Computers or Howard Schultz, the driving force behind Starbucks? If you think you have a really good idea for a business ? but you don?t have enough money of your own to get it off the ground ?and you think you are going to launch it with someone else?s money- you are in exactly the same situation that Alan Stransman was in back in the summer of 2004. Before you do anything – read Don?t Let Your Dream Business Turn Into A Nightmare – a heartbreaking and hilarious account of one man?s pursuit of a dream. Don?t let Your Dream Business Turn Into A Nightmare is a rarity ? a business book that actually tells you what it is really like to start a business ? if you don?t have enough money of your own, have no idea how to write a business plan and have no experience running a business. In an era of ?Just Do It?, this book tells you what not to do ? unless you want to see your dream business ?and your life ? turn into a nightmare.

List Price: $ 19.99

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From PRWeb:

A new book entitled “Don’t Let Your Dream Business Turn Into a Nightmare”, by Alan Stransman, Founder of The Men’s PowerSpa, one of the first spas for men in North America, warns aspiring entrepreneurs that starting a “dream” business can turn into a nightmare.

“Don’t Let Your Dream Business Turn Into a Nightmare” is an often hilarious, and heart-breaking, first-hand account of Stransman’s experience in launching one of the first spas for men in the world, called The Men’s PowerSpa, in Toronto in June, 2005. The book is available at www.mybusinessnightmare.com, as well as at www.amazon.com and www.amazon.ca.

Prior to creating The Men’s PowerSpa, Stransman created, wrote, produced and directed one of the first television series ever to profile the top resort and destination spas in the world. The series was called Spectacular Spas, and was broadcast in over 50 countries worldwide. He also received an award for Outstanding Leadership in the Spa Industry from the Leading Spas of Canada association. It was while producing Spectacular Spas that Stransman first hatched the idea of an urban oasis for men.

“Don’t Let Your Dream Business Turn Into a Nightmare” is intended for would-be entrepreneurs who have a really good idea for a business, and think that they are going to get it off the ground with someone else’s money”, says Stransman. “The idea of starting a “dream business” with someone else’s money is a myth that needed to be exploded”.

“Alan’s book is not your typical Business Planning guide or book I have read before”, says Angela Nthenda, a student at Keller Graduate School of Management, who read the book for her final project.in the MBA program. “I found it captivating as I flipped through page to page, holding myself not to jump to the next chapter until I finished. He managed to take me through his experiences as if they were mine. Very insightful!!”

Excerpts from “Don’t Let Your Dream Business Turn Into a Nightmare”, read by the author, as well as a free first chapter, are available online at www.mybusinessnightmare.com.

For additional information about “Don’t Let Your Dream Business Turn Into a Nightmare”, or to contact the author visit www.mybusinessnightmare.com.

About Alan Stransman:

Alan Stransman has an M.A. In English Literature from the University of Western Ontario and an M.S. in Telecommunications from Syracuse University, and is a multi-award-winning television producer. In 2005, he launched one of the first spas for men in the world, an entrepreneurial venture and misadventure that was the inspiration for his first book entitled “Don’t Let Your Dream Business Turn Into a Nightmare”.

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How do they do this you ask? Well, the most successful MBA programs strive to gather groups of students with diverse backgrounds and goals and then facilitate the sharing of their experiences in the context of the study of theoretical business applications. Before we get in to the academic elements of the MBA program, let’s first take a look at some of the different techniques schools are currently using to cultivate leadership qualities in their students (besides the standard lectures, papers, exams, etc?).

1) Problem-Based Learning (a.k.a Case Studies)

Rather than simply conveying material to the students through lectures, business schools are now using the problem-based learning format to force students to think for themselves rather than regurgitate material that they’ve memorized.

Classes are subdivided into small groups and each group is presented with a particular management issue or problem.

As a team, the students must research the case they’ve been presented with and apply what they’ve learned from their studies to come up with a solution to the particular problem.

This type of exercise forces students to become “horizontal thinkers” who must consider ALL factors related to a particular decision rather than simply looking at an issue from on particular perspective (ie. accounting vs. marketing vs. finance).

2) Studies in the Field

Many schools are now supplementing class lectures and individuals study time with studies in the field

Although most students coming into MBA programs already have significant work experience, schools continue to stress the importance of “learning from doing”

The interpersonal skills that are crucial to strong leadership cannot be taught in the classroom setting but rather must be observed first hand in the field.

3) Team-Based Learning

While many of the projects assigned in business school require students to work in groups, team-based learning focuses specifically on how to work as team.

The goal isn’t so much to complete a particular assignment or project on some managerial issue, but rather the to learn how to work closely with others.

Setting goals, assigning responsibilities, and learning to rely on others are some of the skills involved.

Because team project and work groups have become so common in the business world, the schools are stressing teamwork abilities now more than ever..

The Curriculum

Now of course, underlying all of these different teaching techniques, is the curriculum itself. The first year courses of most MBA programs make up what is known as the core curriculum. While each school tries to present the material in what they believe is a unique or progressive manner, there remains minimal variation in these courses from school to school because every MBA student must ultimately have a fairly extensive level of knowledge in the following areas:

• Business Strategy Analysis
• Financial and Managerial Accounting
• Management Statistics and Data Analysis
• Managerial Economics
• Marketing Management
• Managerial Finance
• Managing Organizations
• Operations Management

For a detailed description of any or all of these courses, please browse through the course calendar or website of the particular business schools you are considering.

Once this core curriculum has been completed, most business schools allow their students to spend the remainder of their course time on electives. Many schools are recognized for particular programs that they offer and this recognition tends to revolve around these second year elective courses. Often business schools will have faculty who are eminent leaders in their field lecturing for these courses, providing the class with cutting edge research and the latest advancements in the area. Some of the areas that a second-year MBA student can specialize in include:

• Accounting
• Arts Management
• Educational Administration
• Entrepreneurial Ventures Finance
• Government
• Health Care Administration
• Human Resource
• Management
• Management Consultants
• Management Information
• Technology
• Manufacturing Management
• Marketing
• Not-for-Profit Organizations
• Operations Management
• Small Business Management

So as you can see, it’s no longer possible to pigeonhole business schools as gathering places for society’s elite, who put in a couple of years before taking over the family empire. A degree from a reputable business school can now place you on the fast track for a leadership position in any one of an incredibly diverse number of career paths. The MBA has become just as important in public service domains such as education, government, and healthcare administration as it is in the more traditional corporate sectors.

What to Expect for the Costs you have Sunk In?

Having established that going to business school represents a pretty serious financial burden, let’s see what you’re actually getting for all those dollars your laying out. What are the “frills” schools are using to attract students, and the impact that the program can have on your ability to attract employment and your earning potential once you’ve found the job you’ve been seeking.

Facilities:

Talk about plush. Be prepared to work extremely hard when you get to business school, but if your at one of the better ones, take solace in the fact that you’ll be doing it in style. The fact is that many of the schools (and not just the powerhouses) are investing heavily in infrastructure to woo you. Remember, there’s a definite element of reciprocity in the relationship between schools and applicants. To put it simply, they want you to like them just as much as you want them to like you. As a result a significant proportion of a business school’s dean’s time is spent fundraising. Many schools are building brand new buildings, with brand new classrooms, libraries, conference rooms, cafeterias and students lounges all supplied and state-of-the-art technology. Just as one example, Cornell’s Johnson Graduate School of Management has built a simulated trading floor with the exact same technology being used by real analysts.

Connections:

The business world is ALL about connections. We’re not going to feed you the line that “it’s who you know not what you know” but rather that it’s “who you know AND what you know”. For that reason, an MBA program has become incredibly important for young people trying to get their foot in the door. At business school you’re going to educated in the “what” and immersed in the “who.” Without even realizing it, you’re going to be spending two full years networking. Whether it’s faculty who have pivotal roles in major corporations, corporations who’ve formed alliances with the school, or fellow students, over the course of the program you’re going to be in close contact with individuals who are currently, or will be in the future, extremely influential in the business community. Imagine your new best friend happens to be the next Bill Gates, Warren Buffet, David Filo, or Jerry Yang just waiting to surface. Well that’s the kind of relationship that fortunes are built on.

Jobs:

The following excerpts come directly from the Business Week Guide to the Best Business Schools (6 th ed.). It summarizes the relationship between MBAs and corporate hiring so well that felt we should pass it straight on to you completely unadulterated. We further recommend that you find the complete article from which this excerpt was taken (available on the web) for supplementary reading and that you use the guide as one of your resources for choosing the right business school for you (in our opinions it’s one of the most informative).

As we approach the millennium, the MBA is unquestionably the hottest degree you can hold, particularly from an elite school. The stats prove it: At virtually all of the best schools, GMAT scores and starting pay packages are setting records. Applications are too, although a large part of the boom is coming from overseas…The 61 schools surveyed by business week for its 1998 rankings waded through 116,912 applications for the Class of 2000, and the average GMAT score was 667 for those attending the Top 25 schools, up from 649 just two years earlier.

Today, the MBA is on its way to becoming a requirement for anyone who hopes to build a career in Corporate America, and, indeed, much of the world… Certainly, it’s true that corporate recruiters can’t seem to hire enough MBAs these days. The 259 recruiters who participated in business week’s 1998 survey of the best business schools hired 10,348 MBAs in total, a 28 percent rise from 1996. And they would have hired even more if they could have: Grads of the Top 25 business schools averaged 3.2 job offers each, up from 2.3 in 1992, and compensation exploded. The median pay package (salary, bonus, and extras such as stock options or moving expenses) at the Top 25 hit 1,420, up 19 percent from just two years ago. Another telling figure: Median pay topped 0,000 at 18 of our Top 25-versus 5 two years ago.

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Brandon Wu’s GMAT Success Story – as seen on the Graduate Schools Magazine front page feature “The Perfect Time to Take Your Graduate Test” (fall 2010 issue).

For more information, visit the “30 Day GMAT Success” website.

Comments from actual readers of “30 Day GMAT Success”:

• “Cuts through the BS and is written in a way that is very accessible to the reader.” – Chau
• “… eased my anxiety. I used the book as a guide and liked that it lays out the study plan, what to do, how to approach your strengths and weaknesses, and how to stay on track then breaks down the different subjects and problems you’ll tackle.” – Caroline
• “… a great help in setting my priorities during studying and in not feeling too burnt out by exam day. Having a plan written out for each day really helped me to focus and discipline myself to keep studying… the chapters on the different sections / question types of the GMAT provided good tips on how to approach these questions… I found 30 Day GMAT Success to be a great supplement to the GMAC-published Official Guides and I would definitely recommend it to others.” – JM

Struggling to find time to study for the GMAT? Brandon Wu’s “30 Day GMAT Success” might be exactly the right remedy for you.

Devised out of desperation and an impending admissions deadline, Brandon developed a highly effective strategy that aimed to;

(A) achieve a high score in (B) a limited amount of time!

What he discovered was genius – a simple way to create a self-tailored study plan that enabled him to achieve an incredible score of 780. That put him in the top 1% of all GMAT test-takers! Eliminate the need to over-study everything and learn way too many strategies. Study smart: cut down your workload, focus on your weakest spots, and create a plan just for you!

What you will not find here is a repetition of practice questions. Practice questions are incredibly valuable and necessary, and there are fantastic books such as “The Official Guide for GMAT Review” published by the Graduate Management Admissions Council (GMAC). But how do you navigate the sea of information and seemingly endless questions? “30 Day GMAT Success” is the first and only book designed to supplement your current GMAT study. Supercharge your study today!

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