Tag Archive: MBA Programs

When Applying for an MBA, Own Up to Past Mistakes

Nobody likes bringing up their past, and especially if they are mistakes, academic or otherwise. This is particularly so when one is applying for a place at an über-competitive business school. Failing to address obvious weaknesses, such as a low GPA or gaps in employment history, does more harm than good in the end. It is important for one to be upfront about their foibles since it is the best way for them to know how to tackle them in the future, and it will actually increase chances of admission. Below are some of the things that MBA applicants face and how to deal with them.

When Applying for an MBA, Own Up to Past Mistakes

Explaining a Layoff

Many people think that if they tell about their lay off, it will most likely reflect negatively and raise a red flag. It is likely that the committee will notice the employment gap that you’ve been out work. If I were to bet, I would bet that they would wonder what you did during that time since layoffs are common nowadays based on the economic recession that many countries are going through. Keep the explanation short and sweet and draw the attention to how you bounced back, whether you went ahead to open your own business, or went to volunteer.

Handling a low GPA

A low MBA would make the admission committee wonder if you would be able to handle pressure from the MBA. The best way to handle this is to take pre-MBA courses to boost your quantitative profile and remove any concerns about you not being able to handle the MBA.

Addressing a criminal record

Many M.B.A. programs ask a person to explain a mistake they made, or discuss a challenge you overcame. The most interesting candidates have faced difficulty and learned from it, preferably changing their behavior for the better. We took a youthful mistake and showcased a person determined to improve her life.

Admissions officers look for applicants who will succeed in their particular program, as well as in the world after graduation. Showing who you are, your potential, and even how you have overcome blemishes to your otherwise perfect record gives the school insight into your potential as a student and as a future business leader. We all fail sometimes, but the trick is to try to look at your failures through a fresh lens and figure out the good that came from it.

Take a look at the way that Stephen Collins tackled his situation. Stephen Collins was an actor in a popular television show, 7th Heaven, where he played a reverend and father. More than twenty years ago, he had sexual contact with minors, and since then has been undergoing therapy so as to understand why he did it, and how he can keep from repeating the behavior.

It was not Collins idea to have the information come out the way that it did. He was undergoing therapy with his ex-wife in an attempt to salvage their marriage. During one of the sessions, where he made his confession, she secretly recorded everything and then later released the tape to TMZ, bringing everything to the public front. What we should see here is that he had not been going to therapy regarding his acts due to public pressure but due to personal pressure even before the information became public.

This is what he had to say to Katie Couric, “I had dealt with them [the sexual incidents] very, very strongly and committedly in my private life. I think I’m a human being with flaws and I’ve done everything I can to address them.”

He also said, “I deeply regret the mistakes I’ve made and any pain I caused these three women. I admit to, apologize for, and take responsibility for what I did.”

He has been very sincere in his efforts to make things right as he addresses his shortcomings. This is one of the very reasons why we should forgive and support him. It is like for the past 20 years, he has been in a prison of emotional torture at his deeds. He has done everything right, and this included not apologizing to his victims since that would have opened up old wounds that might affect their lives. There are at least three ways as we will mention below:

  • Admitted to God, to himself, and to another human being the exact nature of his wrongs.
  • Made a list of all persons he had harmed, and became willing to make amends to them all.
  • Made direct amends to such people wherever possible, except when to do so would injure them or others.

He came to terms with what he did and acted to make it right. This is the very same way that MBA students should be. They shouldn’t try and hide their past mistakes but rather work at correcting them.…

MBA Degree: What Exactly Is It and How Much Does It Cost to Get It?

Today, MBA is considered one of the most prestigious and popular degrees in the world. Every year, thousands of students graduate with a degree in MBA from different schools worldwide. Even it’s considered a very challenging profession, a lot of students still pursue this course because of the so many benefits that come with it. But what exactly is an MBA?

MBA Degree

What is an MBA?

An MBA or Masters in Business Administration is a postgraduate degree that helps individuals expand their skills and knowledge in various areas of business, including accounting, marketing, finance, and management. An MBA degree is basically an award that recognizes your completion of studies in business, and certifies your general competency in the field.

Why get an MBA?

As mentioned, MBA provides you in-depth knowledge in the field of business. Those knowledge and skills can be used and applied in the real world of business. It’s a very versatile career, and you can use your skills in almost any business situations and across a number of industries. Whether you want to build your own business, become a high-paying executive, or change your career to become a sought-after accounting professional who is specialized in tax returns, MBA is an excellent way for you to get there sooner. Having an MBA degree also increases your salary potential.

How to get an MBA degree?

Of course, like many other degrees, you need to enroll to a school offering this course in order to become an MBA graduate. But before you can apply to business schools, you must first complete an undergraduate program from an accredited school. Your bachelor’s degree doesn’t necessarily have to be related in business, accounting, or finance. You can get accepted even if you major in music, arts, science, or any other non-business course. And depending on the school where you plan to get your MBA, you would need to have a couple of years of working experience and pass a qualifying exam before you can pursue your MBA.

Check the requirements of the school of your choice regarding their requirements for entering such program, and whether or not you are eligible to apply.

Types of MBA Programs

Of course, before you consider applying for a business program, you may want first to familiarize yourself with different types of MBA. You need to decide which one will work best for you. Some of them are the following:

  • Full-time MBA
  • Part-time MBA
  • Executive MBA
  • Professional MBA
  • Global MBA

The length of time that you’ll spend to complete your MBA course will depend on the type of program you choose, but generally, they can be completed from 18 months to 3 years.

Once you completed your MBA program, you may also further your education and choose an area of specialization, which include the following:

  • Accounting
  • Marketing
  • Finance
  • Management
  • Economics
  • International Business
  • Business Law

How Much Does an MBA Degree Cost?

Getting an MBA degree is expensive. Tuition fees can cost $50,000 or more per year, and it can be more expensive if you choose to attend an exclusive school. This is not to mention the amount that you will need to spend for commuting, eating, and paying your monthly rent. But of course, all the money that you’ll spend is worthwhile, especially when you completed the course and get your dream job. But if you can’t really afford it, you can always seek financial help from your school and other organizations providing scholarship programs.