Selecting b-schools to apply to ~ A closer look
Deciding where to attend Business School can be an overwhelming experience. Not to mention that it will be one of the most important decisions that you will make in your life. To help you in your selection process I have outlined five key factors you should consider in your selection process called the five C’s.
The first of the five C’s to consider is the chance of acceptance. In other words, what are your chances of getting accepted into your business school(s) of interest. Before you get too far in the process, you must be honest with yourself and assess your situation. You need to assess your GPA, GMAT, and other related scholastic measurements against the respective average of the admitted students at the school(s) of interest. The key is to be honest with yourself.Take me for example, I received a 640 on the GMAT and my GPA was 3.3. I really wanted to apply to Northwestern’s MBA program, but I was honest with myself. I had absolutely no chance of getting accepted.
The second of the five C’s is costs.I am sure that you are already familiar with this consideration. However, it is an important consideration.In weighing schools you should consider the cost of tuition, cost of living, and financial aid. For example, if you are considering a school out of state then you need to consider out-of-state tuition. This could more than double your tuition expenses.Remember to consider cost of living differences between places such as Los Angeles and Columbus if you are considering UCLA and The Ohio State University.
The Third component of the five C’s is concentration of study.It is particularly important that you determine what area you plan to specialize in, if any.Some of the possible concentrations include: marketing, finance, and supply chain management. Do your research to determine what schools excel in the area you plan to specialize in.This may even lead you to eliminating a school from consideration because they do not have a concentration in your area of interest.
The fourth “C” to consider is career prospects.It is important that you investigate the schools’ placements rates and salary figures.You need to know that you will be able to increase your income and secure a good job after graduating. If you are interested in a particular industry or company then you need to investigate which companies recruit the schools’ students. Each company has a core group of schools that they recruit from.
The last “C” is climate.I don’t just mean the weather outside but also the climate inside. I recommend visiting the campus and with students at the school to uncover this.Also, if you don’t like snow then you probably shouldn’t apply to a school such as the University of Minnesota or the University of Michigan. But it really is important to get a good feel for what is going to be like to be a student at that school. You need to know if you will be comfortable at the school. After all, you will be there for 2 years out of your life. Remember to use the five C’s when considering schools business schools.
~ Thanks to my friend Jason for his views
