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The Biggest Mistake Prospective MBA Students Make

Dr. Don Martin

As Dean of Admissions and Dean of Students at Chicago Booth, I regularly held open office hours, during which time students could come in and meet with me to discuss just about anything. Oftentimes, and typically during the first academic term, I would hear complaints. Some were extremely upset, believing that they had been misled about what to expect when they became a part of our community.

Upon asking them how they came to decide to join us, some of the answers I heard were of great concern, among them:

  • “You’re ranked in the top five.”
  • “You have all those Nobel Prize winners.”
  • “My friend/partner/parent attended.”

I wanted to say, “And? You visited in person or virtually? You attended an admissions information event(s)? You fully evaluated program structure/requirements, facilities and faculty? You contacted current students and recent alumni? You spent quality time thinking about what you really wanted out of your business school experience?” 

Graduate school is not something to take lightly. It involves a major investment personally, intellectually, socially, emotionally and financially. By far, the biggest mistake prospective MBA students make is: Not doing adequate research before they apply.

It is wise to take about a year to do your research. If you are considering starting your MBA in the fall, you will want to start your search two years ahead of time. Why two years? 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 receive and read, you will need at least a year before applying to gather and review that information. 

The same and more applies to Middle Eastern and North African applicants. As all international applicants, you are tasked with not only finding the right graduate school for you, but the right country to study in. Allow yourself enough time to ascertain which opportunities every school and country offers your national peers, and contrast it with the hurdles. See more on evaluation criteria below.   

I have developed a simple yet comprehensive way to help you do your research, and also to ensure that you are prepared when it comes time to apply. It is my Twelve Month Application Checklist. Below is a sample of that checklist, in particular, what to do both 12 and 11 months before you apply.  

Twelve months before applying:

  1. Do an initial web-based search on all of the MBA programs you are considering. As a general rule of thumb, it is very good to start out with at least 20 to 25 initial options.   
  2. Make an alphabetical list of all your options, regardless of what you presently know or have heard, and place them on a spreadsheet.  
  3. Do not eliminate any of them at this point. You want to get as much information as possible. 
  4. Based on your initial list, start with an evaluation of each b-school’s website.  Assess not only the content of material, but also look at the way in which it is presented. Is information easy to find? Is the tone friendly and inviting? Are there easy ways to request more information?  
  5. Request written information from each b-school. It will provide you an opportunity to find out just how responsive the admissions office is to you, and will enable you to review what you receive any time you want.  
  6. Give each school a grade on their website, and on the level of responsiveness they provided to you. Here is a suggested grading system for these two criteria and others you may add your spreadsheet:
WebsiteResponsiveness
A = easy to navigate, informative, captivatingA = had a response within 7 business days
B = well-done, good information, friendlyB = had a response within 12 business days
C = fairly easy to navigate, not as helpful/friendlyC = had a response within 17 business days
D = difficult to navigate, not very informative D = had a response within 22 business days
F = what were they thinking?F = took three weeks or longer 
FF= no website, or close to nothingFF = no response 

Remember: Be completely honest with yourself as you fill in your spreadsheet.

Eleven months before applying:

  1. Based on the information gathered and noted regarding website and responsiveness, you are now in a position to narrow your search. But do not narrow it too much (Obviously, those institutions you have graded as F or FF can mostly be eliminated.).
  2. Write down all of the criteria you would like to evaluate for each MBA option (There is a list of 26 in Chapter One of my book.). Here are some suggestions:
    • Website grade
    • Responsiveness grade
    • Admissions event(s)/friendliness of admissions staff
    • Interaction with students/alumni
    • Interaction with faculty
    • Facilities
    • Grading system 
    • Career services/employment percentages
    • Total cost of education for one year
    • Application deadlines, fees and requirements
    • For international students: alumni community of your nationality
    • For international students: funding and immigration

Perhaps not every student will need a full year to do her/his research before applying. But if you are going to err, be sure to give yourself more than enough time, rather than find yourself scrambling at the last minute, because you didn’t do your homework. When that happens, you greatly lessen your chances of finding the right graduate program, and also of making avoidable mistakes on your application(s).  

In closing, there is a top business school in the U.S. that offers their students a phenomenal opportunity to be mentored by recently retired Fortune 500 CEOs. Would you like to know the name of that business school?  My answer is three words:

Do – your – research!

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.

 

Dr. Don Martin is the Consultant in Residence at Spring