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#6 Steps to Take Now for a Successful MBA Application

Inside a Harvard Business School classroom (Photo credit: Wikipedia)

As you may know, given the dramatic increase in MBA applications, a successful business school application requires significant time, planning, and self-reflection. Given my near decade of experience advising top MBA applicants, I strongly recommend that prospective students, who will be applying in the fall, begin preparing now (if they have not started already). At Stratus Prep. we actually began helping students with this year’s Round 1 applications in January in order to maximize their chances of acceptance at their dream schools. By starting early, you will make the process much more manageable and develop a stronger, more authentic application that will significantly increase your chances of getting into a top MBA program.

Below are 6 steps you can and should take now so you are ready to submit exceptional MBA applications this fall.

1. Register and prepare for the GMAT

One of the first steps in the business school application process is to prepare for the GMAT (or GRE, though I strongly recommend the GMAT) because most students require at least 3-6 months of preparation to achieve their full potential on the exam. It is a good idea to determine a target score (which should be 20+ points above the averages at your top choice business school) before beginning your preparation so you can track your progress and have a goal to work toward. Next Next. take a diagnostic exam so you can identify your strengths, weaknesses, and the improvements that will be necessary to reach your target score. I strongly recommend enlisting a private tutor to supplement your self-study, as a tutor can craft a strategy tailored specifically for you based on your diagnostic exam rather than just providing you with a superficial review of the material as GMAT classes do. Your tutor should have 2+ years of experience and a Real GMAT score of 760+ (which is the 99 th percentile on the exam). If you can’t find a qualified tutor near you, consider virtual tutoring. At Stratus Prep. we work virtually with tutoring clients from Shanghai to San Francisco and from New York to New Delhi, and the results are identical, if not slightly better, than in-person tutoring.

2. Really get to know yourself personally as well as professionally and academically

Your MBA application is your chance to share yourself with the admissions committee and convince them that you are an ideal fit for their school. To do this, you need to reflect on who you are personally, professionally, and academically. This step in the business school application process is often overlooked but is one of the most crucial for success. First, ask yourself: What makes you stand out from other applicants with similar professional and academic profiles? How have you impacted the world, and how will you continue to do so? What makes you an effective leader?

Since top business schools are flooded with applications each year, a significant deciding factor for admissions committees is why potential students need an MBA (and why they need it this year ). Do you need an MBA to break into a new career (that builds on your prior experience)? To start a business? To move within your company in order to drive greater value? The more concrete detail you can provide, the better admissions officers will understand your rationale for pursuing an MBA, and the more likely it is that they will decide to invest a space in their class in you.

3. Reach out to potential recommenders

You will want to connect with possible recommenders well in advance of the application deadlines in order to reinforce these relationships and ensure that these individuals know you well so that they may provide the strongest possible recommendation. When the applications are released, be sure to give your recommenders 4-6 weeks to complete the somewhat tedious online recommendation forms for each of your schools. Each of these forms will ask the recommender a series of essay questions, which differ from school to school.

4. Finalize school selection and plan for deadlines

When you first considered getting an MBA, you a myriad of schools may have appealed to you. Once you take the GMAT, develop your admissions strategy, and research each school as it relates to your long term goals, you should finalize the list of schools to which you will apply. Your list of 4 to 8 schools should include stretches, targets, and safeties. In making your list don’t overemphasize the GMAT. While this is certainly an important quantitative benchmark, it is far from definitive. For example, I recently had a client admitted to Harvard Business School with a 590 on the GMAT. Once you have finalized your school list, be sure to note each school’s deadline to ensure that your business school application process runs smoothly. You are then ready to begin to brainstorm your essays which should be customized to each school, even when the questions may appear to overlap.

5. Fill any gaps in your resume

As you review your resume, note any “gaps,” that could threaten to weaken your application. For example, perhaps you have 3 years of work experience, but very few activities outside work. In the coming months, you should deepen your extracurricular work by taking on leadership positions that will offer you the chance to positively impact your community. Alternatively, perhaps you have extensive extracurricular experience but, when you took the GMAT a few months ago, you found your score was lower than the average at your first-choice school. You can use the coming months to improve your score. Alternatively, if your undergraduate GPA is lower than you might like, consider summer coursework to address this potential weakness.

6. Consider getting expert help on your applications

You will spend over $200,000 on your MBA when you consider tuition and living costs as well as the opportunity costs of not working for two years. Spending a few thousand dollars to work with a true MBA admissions expert, who can substantially increase your chances of getting into the school of your dreams, is likely a very wise investment. However, you must carefully vet admissions consultants. Beware if a firm does not release school-by-school success rates, refuses to provide references, or has been in business less than 5 years. The most reputable consultants spend significant time working with you before you start drafting your essays, strictly limit the number of clients per counselor, and work with students globally (for example, at Stratus Prep we work with students from 40+ countries). It is estimated that 40% of students today use an admissions consultant; so you may actually be at a significant disadvantage if you do not.

If you begin the business school application process early and work consistently over the next several months, you will have the time necessary to assemble the most competitive application possible. My most successful clients at Stratus Prep are those who start early and take advantage of this time to work closely with their counselor and me long before the MBA deadlines are looming in the fall.

Where are you applying this fall? Let me know in the comments, email me at shawn.oconnor@stratusprep.com. or contact me via Twitter at @shawnpoconnor.