Performing well in business school is something most students take very seriously. It involves a major investment personally, intellectually, socially, emotionally, and financially. But sometimes the process of finding the right MBA program is taken less seriously.
Be sure to allow yourself enough time to do your “due diligence” and get all of the information you want and need. It is wise to take about a year to do your research. If you are considering starting your program of study in the fall, ideally you will want to start your search two years ahead of time. Why two years, you may ask? Typically, business schools start accepting applications just under a year before the intended start date. In order for you to have time to thoroughly evaluate all of the information you will receive and read, you will need at least a year before applying to gather that information and thoroughly review it.
Here are seven critical tips to help you conduct good research on MBA program options:
Many prospective MBA students rely on only two criteria when deciding where they will apply: rankings and word of mouth. During my time at Chicago Booth, that often turned out to be a big mistake. First, what someone else may think about a particular business school is just that – what they think. It has nothing to do with what you may think. Secondly, there is absolutely no – zero – evidence that where you earn your MBA is directly correlated with long-term career success. Start out with at least 15 to 20 options, and do your own research about them.
Once you’ve done a thorough search, make an alphabetical list of all your options, regardless of what you presently know or have heard about them. Then create a business school spreadsheet, placing your options in the left-hand column.
Be careful about accepting word-of-mouth or what you think you know about a program as final fact at this point in the search process. We are individuals and as such have different needs, expectations, and experiences. As I mentioned earlier, this is your educational experience—not someone else’s. Gather information about each of your options. Don’t eliminate any of them at this point—you want to get as much information as possible so you can decide what options are most appealing for you. Remember: perception about various MBA options is where you end up after doing your research, not where you start.
Once you have your spreadsheet set up, go back online and do some in-depth research on all the business schools you have on your list. Assess not only the content of material on websites, but look at the way in which it’s presented. Is information easy to find? Is the tone friendly and inviting? Are there easy and quick ways to request more information? How are you treated when reaching out to the admissions office?
Based on what you are discovering, you are now in a position to narrow your search a bit—just don’t narrow it too much. If you still have an interest in a business school that you didn’t initially find very accommodating, keep it on the list for now. However, if you continue to get the same treatment you did when first browsing their website and/or requesting information, ask yourself the following question: If I’m being treated this way now, how will it be if I apply, am offered admission, and enroll?
Start filling in your spreadsheet. On the left-hand column will be an alphabetical list of your options. Across the top will be all the areas and options you will want to compare. Here are some suggestions:
As future international students, you may also want to consider factors such as:
After reviewing your entire spreadsheet, do a very general rank order of the options that remain. You could rank every option, starting with #1 and going to the end of the list. Or you could group your options: top group, second group, third group, etc. Whenever possible, you should have at least five to 10 options left. Hopefully you’ll have many more. The point is that you’re not at a place where you need to have a “short list.” Provided you have started your research well ahead of time, you will have ample opportunity to narrow down your list before deciding where to apply.
Remember, you can and should feel free to change your spreadsheet evaluations at any time. Perhaps further information and/or contact with one or more of your options will cause them to go up or down on your overall list. First impressions, while important, may change later based on repeated observation and communication. That’s another great reason to take plenty of time to do your research. You tend to learn more about a business school the longer you do research about it. Some of the columns on your spreadsheet will have letter grades; some will say “yes,” “no,” or “maybe”; some will be dates, dollar amounts, or various numerical responses; and some will be more evaluative (for example, a scale of 1–5, with 1 being terrible and 5 being outstanding).
In conclusion, taking time to “do your homework” can have a major and positive impact on the decision about where you will apply and enroll. Seeing as for most individuals, earning an MBA is something that happens once, you want to do your best to get it right. Allow adequate time, ask good questions, and be sure that your perceptions about program options come at the end of the research process, not before you start out.
Be sure to check out Dr. Don’s book, “Road Map for Graduate Study, A Guide for Prospective Graduate Students,” on the Grad School Road Map website. If interested, go to The Book page on the site, scroll down, click on the Order Now box, and for a reduced price, use discount code GSRM.
