Landing a Job After Your MBA

Even before you start an MBA, take steps to maximize the chances of getting a great job when you graduate.

It goes without saying that for the vast majority of MBA students, the primary goal is to get a great job after graduation.

A job certainly isn’t something that is handed to you when you get your diploma, but there are concrete steps you can take to maximize your chances. Here are five things you can do, starting right now, to get the best job you can after you graduate.

Landing a post-MBA career takes a bit of direction

1. Start early

It’s never too early to start the process.

Thinking about your motivations for pursuing an MBA, and considering what you want to do after you finish, is a good way to start, even before you apply to MBA programs.

And indeed, many business schools can help with this process, even before you set foot on campus.

“We try to engage with our students right from the minute they apply for the program,” says Sue Thorn, the director of “CareerPlus,” the career development department at Warwick Business School.

Before they start the program, students enrolling in the MBA at Syracuse University’s Whitman School of Management participate in a series of self-assessment activities that are designed to help them analyze their strengths and prepare for their career search.

“It’s really helpful for students to do a lot of self-reflection and engagement in research on career choices prior to actually coming into their MBA program,” says Angela Petrucco, the assistant dean for career services at Whitman. Because once you start an MBA, having clear career goals will help you make important decisions, such as which electives to take and which networking events to attend.

Starting early has the added benefit of helping to narrow down your MBA search. For instance, if you know you want to work in the United States after graduation, you might decide to focus on US-based business schools, rather than those in other countries.

Think about what you want to do after your MBA

1. Know yourself

“For any individual, the first step in successfully managing a career is knowing what you want, and if you have the skills needed to get it,” according to Yvonne Li, the director of admissions and career services at China’s CEIBS.

Indeed, knowing what you can offer to potential employers can help you hone your career path. But it’s also about knowing what you want out of a job, as well as what workplace aspects you’re not prepared to compromise on.

According to Warwick’s Sue Thorn, a prospective MBA should ask herself, “If I had a blank piece of paper, what would my starting point be? What would my ideal role be?”

To do this, there are a variety of tools, such as the Keirsey personality assessment test and other career assessment tests, which can be helpful.

Business schools’ career services departments can help with the nuts and bolts of landing a job

3. Set realistic career goals

Armed with a better sense of self-awareness, you can start thinking about what you want to be doing after you finish your MBA. Take somebody who has been working as a scientist, for example. The scientist might ask herself what her assets and transferable skills are.

The scientist might decide that, based on her interests and having accrued a set of analytical skills in her work, she might be best equipped to go into marketing, or perhaps another quant-heavy field like finance.

For some students, it can be challenging to think outside of the box.

“I think one of the biggest challenges,” says Warwick’s Sue Thorn, “is following their own career path rather than following the crowd.”

“It’s quite easy to get swept up in thinking that, ‘oh, everyone is applying for investment banking or consulting, perhaps I should do that.’”

In this sense, it’s important to research a number of different career paths and even meet with people working in a variety of different fields, in order to get a sense of what’s out there.

4. Leverage internships and other hands-on experiences

For many MBA students, internships are one of the most effective ways to land a job. Indeed, according to a recent corporate recruiters survey from GMAC, some 85 percent of the surveyed companies who had MBA interns last year ended up offering full-time positions to these individuals.

This is because many companies see the internship almost like an “extended interview” where you can actually prove your worth on the fly.

But perhaps more importantly, an internship can be used to add skills to beef-up your profile.

For example, Whitman’s MBA students can take advantage of consulting projects with real companies, where “they’re applying the business skills that they’re learning in the classroom to real-life problems, and they’re gaining experience that they didn’t have prior,” according to Angela Petrucco.

Job fairs and networking events are great places to get leads on a post-MBA job

1. Stand out by taking advantage of b-school resources

All legitimate business schools have some kind of career services support. This can include everything from leadership-development seminars to networking events.

Networking, in particular, can be a great way to generate career ideas and find job leads.

Networking can start early on in your studies. For instance, each September, CEIBS’ career development center organizes a “Career Exploration Day” for incoming students.

“We invite business leaders/CEIBS alumni to share their expertise on various industries/functions, individual career planning and job searching strategies,” according to Yvonne Li.

Many career services departments will also help with the nuts and bolts of the job search process: the resume prep, the cover letters, and even the interviews. According to Angela Petrucco, staff at Whitman’s career center will do one-on-one mock interviews with MBA students; and students even have the option of using an online system to record their interviews and review them later.

These and other resources are there for every MBA student, and taking advantage of them during your program will help give you a leg-up during your job search. Because landing a job, in the end, is about more than just the degree.

“Most recruiters post-MBA are not just looking for someone who gets high academic marks,” says Warwick’s Sue Throne, so “take as many opportunities as you can to meet as many people, and really embrace everything that the MBA can offer you.”

“Because what you’re trying to do is stand out, rather than just say that you have an MBA.”

Tracking Down the Funds: How to Pay for Your MBA

An MBA is expensive. Here are some tips for getting the money together to do one

Let’s face it: an MBA is expensive – substantially more than most master’s programs. And when you start adding up living expenses, books and transportation costs, the total price tag can be enough to make some potential MBAs think twice.

A high price tag, however, doesn’t have to be a deal breaker. One reason is that many MBA programs will pay for themselves in the long run.

When considering an MBA program, “in a large respect you’re going to look at costs, but you have to look at costs in the context of the return on investment,” says Salomon Medina, associate director of financial aid at Rice University’s Jones School of Business.

According to Keegan Pierce, associate director of international admissions at ESADE Business School, to make that investment, a potential MBA student should ask herself, “what is it that I can contribute through my own sources, and what is it that I can get through the school that I’m applying to, and how can the school help me out?”

Beyond savings and family funding, support generally comes in two forms: scholarships and loans.

Scholarships

For many budget-conscious students, scholarships based on merit are the holy grail of MBA financing, because they don’t have to be paid back. They’re usually highly competitive, and many are restricted to certain groups of applicants. For example, many business schools offer scholarships just for women or students from specific countries.

For business schools, these scholarships are a way of recruiting a more diverse group of students. For example, Bath School of Management offers a “third sector” scholarship specifically for participants who come from NGOs and non-profit organizations.

According to Rachel Foster-Borman, the school’s MBA admissions and marketing director, the school offers this scholarship because it values people from the sector, but finds that “roles in the third sector are typically not as lucrative as [similar] roles in other industries.”

To determine an applicant’s suitability for this type of scholarship, business schools will usually look at a variety of factors.

“It’s not just looking at GMAT scores,” says Jones’ Salomon Medina.“They’re looking at everything: they’re looking at experience, they’re looking at recommendations, they’re looking at career trajectory.”

ESADE’s Keegan Pierce would agree. “For us, there’s no one specific factor that tends to trump all others,” he says. The school looks “closely at the essay and the arguments that you put forward for why you are deserving of the scholarship.”

Furthermore, business schools are looking for students will will add something to the incoming MBA cohort, whether that’s being an active classroom participant, or organizing student clubs or social outings.

According to Pierce, “we look for people who we feel like are going to be outstanding in a number of ways, and not just they happen to look good on paper.”

Loans

After scholarships, loans are another main funding source for MBA students. In the US, student loans have traditionally come from the federal government’s department of education, but as that funding shrinks, banks and other private financial institutions are increasingly filling these needs.

“On the government side here in the US, they’re really limiting funding for graduates to student loans,” says Jones’ Medina. However, Medina notes that some states (such as Texas, where Jones is located) also offer loan programs that are separate from the federal government.

However, in the US (and many other countries), international students who would like to take out loans will usually require a citizen or permanent resident to co-sign.

Many business schools also have arrangements with banks, who can provide loans to students. In some cases, international students may be eligible for loans trough these partner banks, sometimes without a co-signer.

Other funding sources

Beyond personal savings and help from family members, some MBA students find that their employers might also be willing to foot some of the bill, although it might take some convincing.

“The important thing is to make the case to your employer as to what value the degree will bring back to the company,” says Salomon Medina.

Often, this kind of arrangement might come with a caveat that the student will have to return to the company, MBA in hand, for a certain amount of time after graduating.

Additionally, a summer internship or project can be a good way to bring in more money. Typically, the summer between the first and second years of a two-year MBA program “is when people get back to earning money, which can go towards their living expenses and their tuition,” says ESADE’s Keegan Pierce.

“And often times those internships continue on a part-time basis into the final portion of the MBA.”

General MBA financing tips

• Apply early: Applicants who apply in early application rounds usually have access to more scholarship money.
• “Look for competitions linked to your MBA program with financial prizes associated and opportunities for funded final projects,” according to Bath’s Rachel Foster-Borman.
• Be transparent: According to ESADE’s Keegan Pierce, asking about scholarships shouldn’t be the first point of contact with a school, but if you intend to apply for a scholarship, it’s good to communicate that early on.
• Ask about payment options – you might not have to pay all at once.
• According to Jones’ Salomon Medina, MBA applicants “can look at professional or civic organizations that they’re involved in,” who might not advertise that they have education funding programs.

More than Profit: Can an MBA Program Help Make a Difference?

How a growing number of MBA programs are preparing people to work in non-profits and other mission-driven organizations

Before deciding to do an MBA, Suzi Tart worked as a journalist in China for about five years. There, she was exposed to the positives that economic development had on the country, but she also saw the dark underbelly of that growth: the environmental problems, the rising inequality, and other impacts that she witnessed on a daily basis. So when she decided to return to school, she wanted to find a way to enact change, but also was looking for skills that would help her land a job.

I wanted a socially-conscious MBA program that would allow me to gain the skills needed in order to be a part of the change, but would also open doors for me,” Tart says.

Tart chose to do the International Organizations MBA (IOMBA) at the University of Geneva, a ten-month program that promises to help students who want to go beyond “business as usual” by preparing them for management careers in NGOs and other international organizations.

Now six months into the program, Tart – who is concurrently pursuing a master’s degree in international development from the University of Pittsburgh – says that she enjoys that she has been able to connect with a group of people who have similar ambitions as she does.

“We all have the same goal of leaving the world a little bit better than how it was when we first came into the program,” she says.

For those who want to make the world a little better, there are a growing number of MBA programs that can help. There are general MBA programs with concentrations in corporate social responsibility (like the one offered by the UK’s Nottingham University, for instance) or sustainability (Switzerland’s St. Gallen University offers several tracks in this area). Furthermore, there are MBA programs specifically designed for those who want to work in non-profit companies, including Brandeis’ Heller MBA in Nonprofit Management, or the MBA/Nonprofit degree from Suffolk University’s Sawyer Business School.

Other programs, like Boston University’s Public and Nonprofit MBA, find common ground in the intersection between the public sector and the non-profit industry. Along these lines, some policy-minded students choose to pair an MBA program with a second master’s degree in public policy (MPP) or public administration (MPA).

“Non-profit organizations have to be run like businesses”

Sandy Matava, who teaches on Sawyer Business School’s MBA/Nonprofit program, says that managing a non-profit organization is very similar to managing a for-profit business, but with a few differences that can be addressed by a specialized program. She says that “non-profit organizations have to be run like businesses.” They need to be efficient and generate revenue, just like for-profit businesses.

“In the for-profit world you are trying to create value for your shareholders,” says Matava, “and in the not-for-profit world, you still want a profit because then you can spend more money carrying out your mission.”

Likewise, traditional for-profit businesses have a fairly straightforward way of judging the success of particular business strategies or tactics: the bottom line.

In the private sector “the key performance indicators are normally linked to the results,” says Monica Patry, IOMBA’s program director, “so you need to sell a product, and the key performance indicator is how much you make. It’s very easy to see.”

However, “in international organizations and NGOs, you don’t have these key performance indicators, but you need to find other ones, so that when a donor gives money, you can say ‘here are your results.’”

To address these and other issues relevant to mission-oriented organizations, MBA programs in this space bridge the gap by combining core business classes with some specialized curriculum. For instance, the curriculum in the One Planet MBA at the University of Exeter Business School includes modules in Economics, and Managing Strategic Resources and Operations, but also covers topics in Finance and Responsible Investment, and The Human Factor in Sustainable Organisations.

Top MBA programs for non-profit management Value beyond the sector

Typically, MBA programs in this space draw a wide audience. For instance, Sandy Matava says that the people who pursue Suffolk’s MBA/Non-profit program range from those who have already worked in the non-profit sector, to those who are interested in transitioning to it, and even those who want to end up working in the private sector. For the latter group of students, a specialized degree in non-profit management can add value to their careers in indirect ways.

“As they climb up the corporate ladder,” Matava says, “they often need to think about their philanthropic résumé, which means they have to be willing to provide some service to the community, and frequently that’s done by serving on boards of directors of non-profit organizations.”

“And it’s valuable for them to know about how non-profit organizations operate, and think about how they can make a contribution.”

Sometimes, the degree can take graduates seemingly as far away from the non-profit sector as possible.

“A number of our non-profit folks end up working in banks,” Matava says – but in their charitable foundations.

Additionally, students can find that a specialized degree can help if they want to work in corporate social responsibility (CSR) functions inside of for-profit companies.

Location matters

For many students who pursue these types of MBA programs, location can be important for networking and connecting with potential post-MBA employers. For instance, Suffolk’s Boston location is a good place to be for those interested in a career in a non-profit or mission-driven organization. Boston is also home to many hospitals and health organizations, many of which are classified as non-profits, and can serve as popular post-MBA employers.

“One of the best aspects of the program is the location –  Geneva itself,” Suzi Tart says of the IOMBA program. Geneva is home to the European headquarters of the United Nations, the World Economic Forum, the World Health Organization, and countless other NGOs and international organizations.

“It offers so many opportunities with the chance to make an impact,” Tart says.

And indeed, she has been interning with UN Conference on Trade and Development, in the organization’s CSR division.

“It’s been a great experience,” she says.“I’ve learned a lot, and I’ve learned that there are people out there who do want to make a difference, and it really just takes everybody getting together and talking.”

Should I Take the GMAT or GRE?

Many MBA programs now accept scores from both tests. Which will give you an edge?

The biggest hurdle for many MBA hopefuls is the Graduate Management Admission Test (GMAT). Getting a good score on this famously tough standardized test has been the bane of b-school applicants since the 1950s.

But if you’re looking at MBA programs in the United States, there is an alternative. Graduate Record Exam (GRE) scores are now accepted by hundreds of business schools in the US, including NYU, Harvard, Wharton, and Stanford. Dozens of schools in Europe and Asia also consider GRE scores, though uptake in the United Kingdom has been minimal so far.

So, if both tests, the GRE and GMAT – are accepted at the business school you are applying to, which test should you take?

Most prospective MBA students still opt for the GMAT, even though it is widely considered the harder test. About 47 percent of people surveyed by Kaplan Test Prep in 2010 thought the GMAT is more difficult than the GRE. Only 10 percent thought the GRE was harder, while 29 percent weren’t sure.

There are a few other differences. The math section on the GRE is generally thought to be slightly easier than on the GMAT, while the verbal section on the GRE is more focused on vocabulary, while the GMAT tests more grammar and reasoning.

The GMAT is also the more widely accepted test for business schools globally. Around 1,500 institutions accept GMAT scores, compared to the some 450 that accept GRE scores. Even for schools that officially accept both scores, there still seems to be a preference for the GMAT.

“The GMAT has long established itself as relevant to the courses taught in core MBA classes,” says Erin Nickelsburg, director of admissions at the University of Wisconsin-Madison’s School of Business. “The GMAT is a predictor of your ability to be academically successful in the first semester of your MBA, and that’s it”.

“Every school has done regression analysis to determine whether this is true or not, and it does, in fact, hold true over and over and over again”, says Nickelsburg. “I’ve been doing this for ten years, and it holds true”.

Sherry Wallace, admissions director at the University of North Carolina’s Kenan-Flagler Business School, would agree.

“If I were talking with someone who has taken neither, I would suggest that they take the GMAT”, she says. “We have years and years of experience at seeing how people at various GMAT points have done in our school and what they’ve gone on to do”.

Which prompts the question: why accept GRE scores at all?

The GRE is the standard admissions exam used by many US graduate schools in many different disciplines, not just business. Wallace says accepting GRE scores offers applicants some flexibility, particularly for those who have already taken the GRE to get into another (non-business) graduate program.

“If (the GRE score) is already there, and you can concentrate on some other parts of your application, why not?” says Wallace of these applicants.

The GRE might also be a handy solution for students looking to apply to dual-degree programs, like a MBA-Master of Fine Arts or MBA-Master of Public Administration program, which often require separate applications.

As of yet, nobody seems to have developed sure-fire way to calculate equivalent scores between the GRE and GMAT. That means it’s hard to know exactly what one needs to score on the GRE to be competitive with an applicant who gets, say, a 670 on the GMAT.

IE Business School in Madrid has taken things a step further by developing its own admissions test, which it offers applicants as an alternative to both the GMAT and GRE.

“The IE Admissions Test is designed to determine a candidate’s ability to make management-style decisions under pressure and, as such, is more practical than standardized tests”, says Nita Swinsik, IE’s associate director of admissions.

“Since we focus on diversity, we have students coming from many countries where standardized testing is not the norm”.

Perhaps in response to competition from other tests, the GMAT is evolving. It’s not quite as revolutionary as the title implies: a new, half-hour “integrated reasoning” section will take the place of one of the two analytical writing sections in the current GMAT setup.

But despite the small change, MBA hopefuls are likely to rush to take the “known” exam before the new section is introduced, even though GMAC, which administers the GMAT, says that study materials will be available in time to prepare test-takers for the “unknown”.

The GRE, however, will offer little refuge from change. GRE takers can expect a new emphasis on sentence completion and reading comprehension, while access to an on-screen calculator is expected to change the nature of the math problems.

MBA: List of Top 10 Accredited Business Schools in India

It used to be that Indian students who wanted MBAs had to go abroad — often to countries like the US and the UK — to find decent business education through accredited business schools. But in the past few years, a number of business schools in India have been garnering international attention, as well as accreditation from AMBA, EQUIS, or AACSB.

Here’s a list of the best ones.

1. ISB Indian School of Business

Hyderabad, India

In 2008, ISB became the first Indian business school to break into the Global MBA ranking from the Financial Times. It’s listed as a top school for careers for Technology or Information Technology in FIND MBA’s top schools by speciality listings.

2. Indian Institute of Management, Ahmedabad (IIMA)

Ahmedabad, India

Ranked by both the Economist and the Financial Times, IIM-A is also listed as a top school for a career in Technology or Information Technology in FIND MBA’s top business schools by speciality listings.

3. Indian Institute of Management, Bangalore (IIMB)

Bangalore, India

Accredited by EQUIS, in 2014, IIM-B broke into the Global MBA rankings from the Financial Times.

4. Management Development Institute (MDI)

Gurgaon, India

MDI, in Gurgaon, is accredited by AMBA. Its specialized PGP in Energy Management is popular with students who want to work in the energy sector.

5. Indian Institute of Management, Kozhikode (IIMK)

Kerala, India

IIM-K’s PGP programs are accredited by AMBA.

6. International Management Institute – India

New Delhi, India

The only school in New Delhi with AMBA accreditation, IMI offers a PGP that’s focused on Human Resource Management.

7. Indian Institute of Management, Calcutta (IIMC)

West Bengal, India

The oldest school in the IIM system, IIM-C’s PGP programs are accredited by AMBA, and its Master’s in International Management program is ranked in the Financial Times.

8. T. A. Pai Management Institute

Manipal, India

The school is accredited by AACSB.

9. Indian Institute of Management, Lucknow (IIML)

Lucknow, India

The school’s PGP programs are accredited by AMBA.

10. SP Jain School of Global Management

Dubai, United Arab Emirates

Since the school has campuses in Mumbai, Dubai, and Sydney, SP Jain tends to be popular with students who want international exposure. The school’s MBA programs are accredited by AMBA.

Is MBA Stepping stone to success?

Here is an article to justify YES; MBA is stepping stone to success. Earning an MBA is hard work but the rewards are worth the effort in challenging economic times. MBA study is a life-changing experience. It is not about simply acquiring a set of professional skills. It is an important transitional stage in your personal and professional development as a leader and decision maker. Making the investment in MBA study requires due diligence.

Advantages
Better Pay and Position
The most obvious benefits from earning your MBA in human resources are a higher salary and position.

Current HR Trends
Another benefit you receive through increased education is exposure to current knowledge, practices and techniques of human resources management. The education you receive in a MBA program may allow you to evaluate and improve your current company’s HR system, design and implement a company’s HR system from the ground up, and evaluate the effectiveness of your company’s programs and policies as they relate the total strategic plan.

Job Stability
Many companies offer incentives for employees to get additional education, such as a tuition reimbursement program. Once your company invests in your education, they’ll want to reap the benefits of your new-found knowledge. On top of that, having an MBA in human resource management can make you more appealing to employers, and human resource managers work in many industries, so you’re not limited to the types of companies you want to work for.

Certification
While certification for human resources managers isn’t a requirement for the job, getting certified could also make you an attractive candidate for those higher-paying, upper-management jobs. Eligibility for certification, such as those you can earn through the HR Certification Institute, often require a degree and experience. With an MBA degree, the professional experience you’ll need to test for the certification could be reduced by a year or more.

Disadvantages
School Costs
While money may be a motivation for obtaining an MBA in Human Resources, it may also be a reason not to get one. Tuition, books, school fees and other academic expenses all add up to an expensive education, especially at a top notch school. Even if you choose the distance education learning route, cost is still a factor.

Time
In addition to cost, MBA programs in human resources typically take two years to complete if you study full time. If you choose to enroll part time, the time it takes to earn your degree increases. The curriculum of an MBA program can be rigorous, taking up more of your free time than you’re willing to give. Even with an asynchronous online program, you’ll still need to make time to study, complete assignments and exams, and possibly participate in projects or an internship.
While you may be inspired to jump the career ladder, create new networks and open doors you’ve never dreamed of, sometimes the best reason to take on a new challenge is simply personal happiness. Ultimately, this must be your number one reason for pursuing an MBA.