Everything You Need to Know about the MBA Application Process

We at Ellin Lolis Consulting have placed numerous students in top MBA programs all over the world and have a 99% success rate in doing so. To help you navigate the process, we’ve created this comprehensive guide to the entire MBA application process.

Our goal is to add more value to your application than you ever thought possible by giving you the tools and insider information you need to gain admission to a top MBA program.

1.1 Is an MBA right for me?

(Credit – GMAC report linked below)

Are you thinking about applying for an MBA but are not sure if pursuing this type of degree is right for you? Before you sign up an info-session or crack open a GMAT study guide, you may want to take into account what factors are motivating your decision to apply to business school.

According to the Graduate Management Admission Council, there are seven types of people who pursue MBA degrees to either earn more money or improve their management skills.

The first and most common type, representing around 27% of global applicants, are Status Seekers. If you are a Status Seeker, you are likely motivated to apply for business school to land a high-paying job (even if this type of job is not your “dream” job) and want to increase your status both among your colleagues and among your social group. If this sounds like you, you may want to focus your applications on top ranked programs to ensure your degree delivers what you need.

The second most common applicant is known as a Global Striver. This might be you if you are looking to explore the career and personal growth opportunities that lie beyond your front door. If you are especially interested in transitioning to a career in another country or in gaining international exposure to leverage in your local job market, an MBA can be a powerful tool to help you reach your goals.

If “I need to take my career to the next level now” sounds like something you would say, you may be a Career Revitalizer. Career revitalizers can use the MBA as much to reinvent themselves, as much as to advance their careers more quickly. Considering that, on average, MBA graduates increase their salaries by 100%, taking the time out of your career to attend business school may be a smart investment in your future.

In addition, an MBA may be a good idea for you if you are looking to provide stability in your career, improve your socio-economic standing, improve your business skills, or enhance your ability to generate social impact, an MBA is also an incredibly effective way to ensure you are able to reach these goals.

1.2 The GMAT Exam

One of the first and most important steps in preparing to apply for business school is to take the GMAT exam.

GMAT stands for Graduate Management Admission Test. It is the most common test used to determine how prepared an applicant is for an MBA program.

The test consists of four basic sections:

1. AWA ESSAY

The AWA Essay portion of the GMAT tests your ability to write an argument in English. You have 30 minutes to complete this section, and receive a score from 1 to 6.

1. INTEGRATED REASONING SECTION

The Integrated Reasoning section evaluates how well you can analyze data presented in different ways and from different sources. There are four different types of questions: table analysis, graphics interpretation, multi-source reasoning, and two-part analysis. Each section requires you to answer a different type of question. For this section, you receive a score between 1 and 8.

1. QUANTITATIVE SECTION

The Quantitative section tests your quantitative reasoning ability, and includes mostly math questions. There are two types of questions: data sufficiency and problem solving. You have 75 minutes to answer 37 questions. You are not allowed to use a calculator on this part of the test. You will receive a score between 11 and 51.

1. VERBAL SECTION

The Verbal section tests your reasoning and English abilities. There are three types of questions: reading comprehension, critical reasoning, and sentence correction. You have 75 minutes to answer 41 questions. You will receive a score between 11 and 51.

1.2.1 HOW IS THE GMAT SCORED?

When we talk about a “score” on the GMAT, we usually think of a score out of 800 points, which combines your scores on the Quantitative and Verbal sections. This can be confusing because you receive scores out of 51 in both of these sections, and these scores are then transformed into scores out of 800.

The best way to estimate your score is to use this table from Magoosh. Though it’s not exact, you can expect, for instance, that a student who scored 45 points in the quantitative section and 40 points in the verbal section would have a score of 690 out of 800.

1.2.2 HOW IMPORTANT IS MY GMAT SCORE?

Though business schools take many factors into consideration when evaluating your application, one of the most important elements of your profile — especially for US business schools — is your GMAT score.

In recent years, average GMAT scores at top schools have risen dramatically, highlighting how critical a strong score is in a successful application. For example, the average GMAT score for Kellogg’s Class of 2019 was an astronomical 732, whereas the average GMAT score for Kellogg’s Class of 2018 was 728.

Though there are many factors about your profile that affect what a “good” GMAT score is for you, in general, it is wise to ensure your score is within 20 points of your target school’s average GMAT score.

1.2.3 HOW LONG DO I NEED TO STUDY?

Though the process is different for every person, in general, we see candidates study an average of 3 to 6 months before reaching their target score.

The good news is that you can take the GMAT exam multiple times. In fact, according to GMAC research, the average test taker is able to increase their score by more than 30 points on a second attempt. So don’t give up!

1.3 Language Testing

If you are a non-native English speaker, you will also need to make sure you complete a language test before sending your application. For most schools, you should aim to score at least 100 on the TOEFL exam, at least 7.5 on the IELTS exam, and at least 70 on the PTE exam. Some schools, like Harvard and INSEAD, however, do have strict score limits and will not review your application if you do not reach the minimum required score.

1.3.1 EXCEPTIONS

If you grew up in a non-English speaking country but English was the primary language you spoke at home, completed a Bachelor’s or Master’s degree in English, or lived more than 2 years in an English-speaking country, you may be able to waive the language testing requirement. Since eligibility varies from school to school, it’s best to verify waiver requirements directly with the school or schools you are targeting.

1.4 Self-Reflection

After you’ve determined an MBA is the best next step in your career and have developed a study schedule, it’s a good idea to devote some time to self-reflection.

For many applicants, this recommendation comes as a bit of a surprise, but when considering the financial, time, and personal sacrifices you will make to obtain your MBA, we believe it’s wise to set aside time to consider what you really want to get from the process.

For example, how important are things like being a member of a collaborative community or taking part in an active alumni network in your home region after graduation? Do you want to spend one year or two years in business school? Will your partner go with you and, if so, how important is it to them that the school has robust offering for partners?

Dedicating a bit of time to visualizing yourself at the business school of your dreams will not only help you make important decisions about where to apply, it will also clarify your reasons for pursuing business education, a crucial element of your application!

2. Getting in Touch with Schools

After deciding an MBA is right for your career goals, it’s now time to ask yourself one of the most important questions: where should I apply?

With numerous top-ranked programs in both the US and Europe, ensuring you choose the right school for your objectives and profile can be the difference between being admitted and being dinged. More importantly, considering you’ll be an alumni of this school for life, it’s essential to ensure you choose the right network!

That’s why we suggest you start familiarizing yourself with the schools early on in the process. There are multiple ways to connect, and each interaction will bring you one step closer to identifying your dream school.

2.1 Visiting the Schools

(SOURCE: https://twitter.com/tuckbridge)

Would you buy a house without ever stepping inside it?

Considering that when all is said and done, an elite MBA can cost as much as a house, gathering as much information as possible about potential programs is a smart move.

Though not a mandatory part of the process, visiting the schools you are interested in applying to can be an important step in determining where you fit best.

2.1.1 WHAT SHOULD BE INCLUDED DURING MY VISIT?

Each school has many different types of programs available for prospective students visiting campus, however, the most common offerings include a campus tour, information session with admissions, and class visit.

The campus tour is a great way for you to learn about the school’s facilities and to get a sneak peek of what your life at that university would be like. These tours are often led by current students, who can often answer many of your questions about all aspects of the MBA experience at that school. In general, do not ask your guide where they applied or for their GMAT score, as this is personal information they likely do not wish to disclose.

Information sessions are presentations offered by members of the school’s admissions staff. In general, they will outline key information about the program (such as average GMAT score, number of countries represented, number of students in the class) as well as information about new initiatives on campus. Most info sessions will end with a short question and answer session with admissions officers. You should not use this time to promote your profile, nor to ask for personal advice (such as “I have a ## GMAT score, what are my chances of being accepted?”).

Many schools will also allow you to schedule a class visit. For many business schools, the class you attend is “luck of the draw” based on which classes align with your scheduled visit, however, if you have the choice of several classes, try to choose one that is aligned with your interests. During the class, you should follow any instructions given to you by admissions, and should only participate in class if the professor invites visiting students to chime in. Otherwise, use this time to examine how the class is taught and how students interact with each other and with the professor. This can give you great insights into what it might be like to be a student at this school, so make sure you turn your phone off before joining the class.

In addition to these types of events, some business schools have specialized programs that allow you to experience “a day in the life.” MIT Sloan’s Ambassadors Program, for example, gives you the chance to have lunch with current students and meet members of the Leaders for Global Operations program. Wharton also has a similar program.

Finally, some schools, like Columbia Business School, allow prospective students to drop in for an individual meeting with a member of the admissions staff. If this option is available, make sure to take advantage of the opportunity to personally connect with the people who will ultimately decide if you’re admitted or dinged.

During your entire visit, make sure to take diligent notes on what you experience. It’s easy to forget small details that will later play a big role in your essays and final decision.

2.2.2 WHEN SHOULD I VISIT?

In general, you should aim to visit the schools you are interested in between January and April or between September and November. If you choose to visit over the summer, you will miss out on your chance to speak with students, attend a class, and get a feel for the school’s on-campus culture.

You should plan to spend at least one full day on campus for each university you visit to ensure you get the most out of your experience. If you will travel internationally to visit multiple schools, make sure to plan travel days so you have plenty of time to get from one campus to another. Most of our clients spend an average of 10 days on a school visit trip. 

2.2.3 HOW SHOULD I PREPARE FOR MY VISIT?

Unless you live close to your dream school, you will likely not visit the campus multiple times before applying, meaning you need to make every moment count. Though you will likely not have enough individual attention with an admissions officer for your visit to significantly impact their impression of you, it is an opportunity for you to learn as much as you can about each school to determine where you ultimately fit in best.

As a rule of thumb, you should research the school in advance. Though you don’t need to comb through archives from 2008, it’s a good idea to understand how the program works, what majors or concentrations the school offers, what clubs and initiatives are available to students, and what the school is “famous” for. During your visit, you can then use this information as a springboard to deep dive into the details of how you would potentially spend your two years on campus.

In addition, schedule coffee chats or lunches with any current students you’re able to connect with. This can be a great, informal way to learn about what attending this school is really like.

We suggest preparing a few questions in advance to ensure you learn as much as possible from the program. Questions like “How did you decide XYZ B-School was the best choice for you?” or “What has surprised you the most about XYZ B-School?” are excellent starting points. On the other hand, personal or “tricky” questions like “What was your GMAT score?” or “What do you dislike about the program?” should be reserved for students you would consider friends or close acquaintances. In case you end up meeting new students during your visit, it’s also a good idea to make sure you have a few business cards on hand.

Finally, if you will have the opportunity to interact individually with admissions officers, you should come prepared with a printed copy of your updated CV and an idea of your general career plan. This will not be a formal interview, but can serve as a good “first impression” of what you can contribute to the community.

2.2.4 WHAT IF I CAN’T VISIT?

If you live reasonably close to the university, a visit is truly a must. If you can’t make a 1-hour drive to check out the campus, for example, it’s going to be quite difficult to convince that school that you’re truly passionate about their program.

However, if you live far from campus or in a different country, campus visits are truly optional. Though they can help show your interest in the school and can be powerful tools to help you decide where you fit best, admissions committees understand that visiting campus is just not feasible for all applicants, which is why visits are not mandatory.

2.2 Connect with Alumni and Current Students

One of the best resources when learning about what a particular school is like, both from an academic and personal standpoint, is from current students and alumni. We recommend you try to speak to several from both categories in order to ensure you get the most accurate picture of life at your dream school.

By speaking with current students, you will have access to the most up-to-date information about new campus initiatives, classes, and recruiting information at your target school. Not only does this “insider” information help you write a killer essay later on, it also helps you look beyond a business school’s marketing pitches and put your finger directly on the pulse of what’s really happening on campus.

If you don’t know any current students, check your network to see if any of your friends or colleagues can introduce you to a current student.

TIP: at the end of your conversation with a current student, always ask if they can provide you with introductions to one or two other students they know who might share one or more of your interests. This is a great way to gain access to even more viewpoints about a certain institution.

Alumni can also offer excellent insights into their alma maters. In addition to giving you information about their MBA experiences, alumni can help you understand more about the recruiting process and the strength of the alumni network in your home region. As many schools conduct admissions interviews through alumni, you can also potentially learn more about how to nail your eventual admissions interview.

If you’re not sure where to start in terms of connecting with current students and alumni, try LinkedIn! For example, after finding Berkeley Haas School of Business on LinkedIn, you have the option to click “See Alumni” and access not only vital statistics (like where alumni work), you can also see a list of alumni with whom you may have connections in common.

Since networking is the name of the game when it comes to business school, current students and alumni expect to receive messages from interested candidates. As such, feel free to send LinkedIn messages or ask common connections to introduce you. Ideally, try to reach out to people you have something in common with (like a shared industry or activity), as these conversations are more likely to yield valuable insights into life at your target school.

2.3 Local Info Sessions

If you’re not able to visit the schools or if you’d like to connect with local alumni from a particular school, info sessions can be a great option for you.

If you live in a major metropolitan area, chances are the school will be in your city or a nearby city at some point during the admissions cycle.

One of the best ways to make sure you stay up to date with all events happening in your area is to register for your target schools’ mailing list. That way, you’ll receive email notifications and can register for local info sessions before they fill up.

A word on info session etiquette. Though it may be tempting to use the info session to promote your profile or ask for personalized advice, it’s best to refrain from doing so. It will not impress the admissions committee and could leave a bad impression. If you have specific questions about the program in general, however, this is a great chance to ask them!

2.4 Connect Online

In today’s connected world, a great way to learn more about business schools and even gain a sneak peek inside the MBA classroom is to connect with the schools online.

For example, after checking out London Business School’s Twitter account, one of our clients discovered that one of the school’s professors was conducting research on mandatory sustainability reporting — a key topic related to this candidate’s goal of working with corporate sustainability post-MBA. Not only did this help confirm that LBS was a great fit, it also made for a standout point in his successful admissions essay.

If you’re more of a visual person, check out your target schools on Instagram or YouTube. MIT Sloan, for example, has amazing, highly informative content on its numerous innovation-focused programs, as well as lectures, like this one on Machine Learning. Stanford, on the other hand, uses it’s Instagram account to highlight the diverse voices of their student body.

It’s also worth checking out the schools on LinkedIn. INSEAD, for example, posts news about campus events, alumni, and new initiatives on a near daily basis to their LinkedIn page.

Finally, many schools hold regular online webinars. These webinars are a great chance for you to meet admissions officers, ask questions about the program, and even connect with other prospective students. For a schedule of online events, head to the school’s website.

3. The Application Phase

With a strong plan in place, you are now ready to begin turning your ideas into a winning application.

By carefully crafting each of the following elements of your application, you’re well on your way to joining the global business elite.

3.1 Where should I apply?

Many students choose to target top MBA programs, but this does not mean that doing an MBA at an elite university is right for your career goals and profile. There are three crucial factors to consider when choosing where to apply, career goals, GMAT score, and fit.

1. CAREER GOALS

Choosing a school that matches with your career goals should be your first step. If you are an entrepreneur who wants to use an MBA to grow your company, don’t focus on schools that don’t even teach entrepreneurship! Make sure you’re targeting schools that offer what you want.

2. GMAT SCORE

Though GMAT is not the only factor admissions committees consider when looking at your application, it is important. Your score should be very close to your target school’s average score. For a list of current average GMAT scores, click here.

 3. FIT

Though there are a lot of theories on showing “fit” with a school, we use fit to mean that the school uses a teaching method that appeals to you, offers programs you are interested in (like study abroad), has a class size you find appealing (do you want to study with 200 other students, or 1,200 other students?) and is located in a place you think you would enjoy living in for two years. Making sure you choose a program you will like is crucial!

3.2 Defining your Personal Brand

One of the first things I tell my clients who are applying to an MBA, is that you won’t get into a top program by being like everyone else–you’ll get in by standing out.

But figuring out how to stand out and how to keep your “uniqueness” consistent across your application can be very difficult if you don’t have some sort of guide.

This is why all of my clients start their MBA applications by defining their personal brand.

A personal brand is a powerful tool you will use not only throughout your application, but also during your studies and later on when you re-enter the job market.

Great, right? But how do you get to the point where you have your personal brand? One of the best ways to do this is to work with a coach or consultant you trust, but you can also create an effective personal brand on your own.

3.3 Choosing your Recommenders

A letter of recommendation is a business school’s unique chance to hear about your strengths as an applicant from an outsider’s perspective. For this reason, selecting the people who recommend you is one of the most important decisions you will make during your MBA application journey.

In general, most business schools require two letters of recommendation.

Preferably, one of these letters should come from your current supervisor, as this person is likely able to go into detail about your strengths, areas for improvement, potential for senior management, and ability to take constructive feedback.

Your second letter should come from someone with whom you have worked extensively. This person would likely bring examples in that are similarly consistent with your brand, but that show a different side of this brand than the first letter.

You should not ask for letters from family members and/or friends. In general, it is also best to ask for letters from executives who are more senior inside the organization than yourself.

No matter who you choose, it is essential that your recommenders bring story-form examples to the letter, as these offer “proof” that the characteristics highlighted in the letter are, in fact, strengths. Furthermore, stories allow the admissions officer reading the letter to “feel like they know you” by the end of the letter, which does a great deal to help you stand out from the crowd.

(Source: Stanford Graduate School of Business)

If you’ve just changed jobs or have a complex relationship with your current boss, you can choose to ask for letters of recommendation from other professionals. Just make sure to include the reason for this choice in an optional essay.

We’ve worked with reapplicants who could not quite get an acceptance letter because their letters of recommendations were working against them, not for them. It is essential to plan ahead to ensure this doesn’t happen to you.

If you need help determining who to ask for letters of recommendation to best support your personal brand, bringing in an admissions consultant who is highly trained to best understand what each school is looking for may be your best option.

After your recommender has finished your letter, he or she will submit the letter online using the link the school emails them. To receive this link, you will need to register your recommender into each school’s online application system.

3.4 Gathering Key Documents

Though not a complicated part of the process, gathering your essential documents is important, as business schools will not review your application without the necessary documentation of your test scores and educational history.

All schools require proof you possess a Bachelor’s degree and an official copy of your transcripts to verify your grades. For non-US schools, obtaining these documents can require navigating a bit of bureaucracy (meaning it may take a while for you to receive your documents), so we suggest getting copies as early as possible in the process.

If you attended a non-English speaking school, you will also need to have your documents legally translated into English. Refer to your target program’s site for detailed instructions on translations.

Finally, you will also need to upload a PDF version of your test scores (GMAT and, for international applicants, language tests), so make sure you have these ready. You will also need to have all test scores sent directly from the test institution to the business schools. This can be done directly on the testing website.

3.5 Writing your Essays

Writing admissions essays that cut through the noise and help the admissions committee connect with you and your ideas means getting in to your target business schools. Yet there are few things more daunting in life than a blank page.

With planning and reflection, however, you can demystify the writing process and ensure your final essays effectively sell your profile to elite business schools.

3.5.1 GOALS ESSAYS

One of the most common essays you will be asked to write during the application process is what can be called a “goals” essay or “personal statement.”

In this essay, you will be asked to state your short-term and long-term goals, as well as justify why you believe the program to which you are applying can help you build the skills you will need to reach these goals.

First, any good essay starts with a “hook,” an interesting idea that can be used as a theme to guide the essay. Last year, a client of ours used an anecdote about being called a “Little Miss Chatterbox” in elementary school, and turned this into a discussion about how data driven professionals must also be strong communicators if they are to deliver impact to organizations (her professional goal). To develop a good hook, think about the main points you are trying to make in your essay and get creative!

Next, since context is king in any good piece of writing, we suggest devoting the first 20-30% of the essay to demonstrate the path you have taken in your career thus far, highlighting skills and accomplishments that relate to your goals.

For example, if you want to pursue a management consulting career with an emphasis in digital transformation, use this section to show off any consulting skills and digital skills you have.

In the next 20-30% of the essay, you should discuss your short-term and long-term goals. Though it sounds straightforward, this is one of the areas clients often struggle the most with.

For starters, you need to be very specific about your goals, especially your short-term goal. One of the elements of your application that admissions committees will analyze is your “employability” or “career risk,” namely, your ability to get a job in the area you have stated after graduating. If you do not list your goals clearly or if it is unclear how you are prepared to reach the goals you have stated, you likely won’t advance to the interview phase.

In addition, it’s important to mention why you are passionate about pursuing these goals. This is your chance to show the admissions committee not only what kind of person and professional you are, but also to give them a glimpse into the impact you will generate in the world in your future career.

Finally, you should devote a little less than half your essay to discussing how this particular MBA program will help you reach your goals. It’s good to focus on specific skill (both hard skills and soft skills), and to point to specific areas of the program you look forward to taking advantage of. A good rule of thumb is if you can swap in the name of another business school and your essay makes sense, you haven’t made your essay specific enough.

To end, we suggest a small conclusion that wraps up the themes of your essay, ties in with the creative hook you presented, and leaves the reader interested in continuing the conversation with you via interview.

Done well, a goals essay is one of the greatest tools at your disposal to build your case for why you deserve a spot in a prestigious business school. 

3.5.2 OTHER COMMON ESSAY TOPICS

Most schools will also have additional essay topics for you to explore. These often ask you to discuss accomplishments, leadership experiences, and what you are passionate about outside of work.

Before you start writing, make sure to do a bit of research to ensure the topic you choose and manner in which you present the situation aligns with each school’s values.

3.5.3 BEST PRACTICES

According to Lisa Cron, author of “Wired for Story,” our brains are hardwired to crave good stories.

Telling good stories by tapping into the brain’s need to know what happens next is essential to connect with your reader and hold their interest throughout your essay. Failure to do so means your reader is likely to move on to one of the other 10,000 applications they have to review, leaving your dreams of attending an elite MBA in the garbage bin.

Though most of us instantly recognize a good story, telling one can be more complex. That’s why we recommend using the STAR method to write your admissions essays. STAR stands for Situation, Task, Action, Result.

Situation: paint a picture for your reader by giving them the context of the situation you are about to present.

For example: “While working at Odebrecht, I faced one of my greatest early challenges as an HR professional. Although Brazilian law requires companies to hire 5% of their employees with at least one disability, Odebrecht had only two such employees out of more than 6000. Prejudiced leaders excluded these candidates from consideration, viewing them as “liabilities.”

Task: show your reader the task you were assigned.

For example: “After numerous failed attempts to solve this issue, I was assigned the project and moved to Rio de Janeiro to focus on changing leaders’ mindsets.”

Action: demonstrate the steps you took to overcome your initial challenge.

For example: “My first action was chosen carefully to serve as a strong example to others. Within days of arriving, I hired a highly qualified disabled person to join my team, and, as we began to generate positive results, made sure I showed leaders how our productivity had increased after bringing on this individual. Furthermore, after noticing that our medical staff had little training on how to properly classify disabled people, I developed and executed a training program that provided them with this knowledge, resulting in the reclassification of seven existing employees. Finally, I knew changing perceptions would be little help if I could not overcome their greatest concern: liability. Thus, I engaged the legal team to help me better understand how to safely bring people with disabilities to offshore oil platforms.”

Result: to end the example, show the impact your actions had in generating real impact.

For example: “These initiatives allowed me to hire over forty disabled employees in one year, many of whom had never been interviewed by a big company. After joining, many received promotions due to outstanding performance. This opportunity not only gave me valuable insights into organizational management, it also showed me the power leaders who listen to their “Hearts” have when generating impact that transcends the organization and transforms the lives of entire communities.”

By following this method, you can ensure you stand out from the crowd and move one step closer to attending your dream school.

3.5.4 REVISION

You’ve spent hours obsessing over your admissions essay, but you’re still not quite sure if what you’ve written is any good.

At this point, you might be tempted to show your essay to everyone you know and ask them for advice.

Though friends and family can be good resources, it’s important to keep in mind that the type of essays you are writing are highly-specific, and that the advice you receive from peers who are less than familiar with the MBA application process may not give you the best advice.

Furthermore, if you send your essay to 20 different people, you’re very likely to receive highly conflicting advice on what to change.

What we suggest is to send your essay just to a few trusted allies. For example, if you have a close friend or colleague who attended or is currently attending the school you are applying to, this could be a great person to get feedback from. Likewise, a boss who has completed an MBA and knows your professional strengths in-depth can also give great advice.

Nonetheless, it can be difficult to determine if your essay is selling you in the best possible manner to each individual school. To ensure you’ve got a winning story told in a compelling manner, you may want to bring in the expert advice of an MBA consultant.

After all, with admissions rates hovering around 5% for top programs, it’s essential to ensure you send your strongest possible application.

3.6 Filling out the Online Application Forms

Once you’ve finished preparing all of your essays, it’s time for one of the most important, yet most frequently overlooked elements of your application: the online forms.

For each school, you will need to register for an online application, into which you will be required to put information about your educational and employment history, awards and recognitions, and information about your goals post-MBA. You will also register your recommenders and will upload your CV, essay(s), and test information.

Though you may be tempted to rush through this section, take time to carefully answer each question in a manner that ensures your responses are aligned with your personal brand. Every question in the application form adds hours of work to the admissions team’s day, so you can be sure they are interested in reading every response.

3.7 To summarize, what do I need to apply?

Applying to an MBA program is very different from many other application processes you have likely participated in during your life. In addition to taking placement tests, you have to submit a variety of information about yourself that will be used to evaluate if the school will admit you or not. The materials you will need to submit are:

• GMAT Score

• For international applicants, language test scores must be submitted.

• Official Transcripts (a record of all the classes you took and grades you received while getting your undergraduate degree).

• Translated Transcripts (for international applicants, you must also submit your transcripts in English. They must be translated by a certified translator)

• Letters of Recommendation. Depending on the school, you will need to submit from 1 to 3 letters of recommendation. These letters are usually written by your current and/or past employers and should highlight why you are a strong applicant.

• Essays. Each school has their own essay questions each year. You need to answer the questions, in English. You must respect the word count limit and should use the essay to highlight your strengths as an applicant.

• Application Fee. The actual amount depends on the school, but most application fees are about US$250. Your application will not be considered until the application fee has been paid.

• Interview. If the business school you have applied to is interested in your profile, you will likely be called for an interview. Interviews can take place on campus, via Skype, or in your hometown (if interviews are available in that location). The interviews typically take place in English, though the content and style of the interview depend greatly on the school.

4. The Interview Phase

(Source: https://hbx.hbs.edu)

You have painstakingly prepared every aspect of your business school application, and now you have been invited for an interview! Getting an interview is a big accomplishment, and with the right preparation, can be your chance to shine and get a spot in your first choice MBA program. Considering that, on average, only 50% of applicants invited to interview are offered admission, you must prepare as diligently for your interviews as you do for all other elements of your application.

4.1 When will interviews take place?

For US schools, applications are generally divided into three rounds. Though dates vary year to year, in general, you can expect to conduct your interviews as follows:

Round 1

• Deadline: Early to late September
• Interview Notification: Mid- to late October
• Interviews Completed by: Early to mid-November
• Notification of final decision: Mid-December

*Some schools, most notably Berkeley Haas, call applicants to interview up until the day before the final notification date. For specific dates for your programs of interests, check individual websites for the most up-to-date information. 

Round 2

• Deadline: Early to mid-January
• Interview Notification: Late January to early February
• Interviews Completed by: Mid-February
• Notification of final decision: Mid- to late March

Round 3

• Deadline: Late March to Early April
• Interview Notification: Early to mid-April
• Interviews Completed by: Late April
• Notification of final decision: Early May

4.2 Who will conduct my interview?

Depending on the university, your interview will either be with a member of the admissions committee, a current second-year student, or an alumnus or alumna who lives in your area.

Some schools, like Harvard Business School, insist that interviews take place with members of the admissions team.

Though all applicants may travel to Cambridge to interview on campus, Harvard also holds interviews in global “hub cities” (such as São Paulo, London, New York City, Mumbai, and Tokyo, among others) to ensure the majority of interviewees are able to interview in person. Under special circumstances, Harvard may also conduct the interview via Skype with an applicant.

Other schools, like Kellogg, INSEAD, and Stanford, among others, prefer to have alumni interview applicants. If you’ve applied to a school that runs its interview process in this manner, you will receive an email containing the contact information of your interviewer and will then directly arrange a time and place to meet for your interview. Though Skype is an option, past clients report having much more enjoyable experiences when interviews were conducted face to face.

Finally, if you live near a school like Chicago Booth, you may be able to interview on campus with second year students. This can be an excellent way to gain insider information into the campus experience and complete an important step of your application.

4.3 How important are interviews in my admissions decision?

Gaining a spot at one of the world’s most prestigious business schools is no easy task. Many applicants believe that receiving an interview invitation is as good as a yes and fail to diligently prepare themselves for a truly rigorous step in the application process. More often than not, these applicants find themselves in the 50% of interviewees who are not offered admission.

This is not surprising, considering that business schools consider the interview the most important criteria for admission into a 2-year program.

Though some schools, like Kellogg, call a larger percentage of applicants than schools like Stanford or NYU Stern, most of the schools are analyzing candidates in a similar manner. In general, schools use the interview to evaluate:

• Your interest in their program
• If you are as good in really life as you are on paper
• Your ability to communicate clearly and connect well with others
• If your values align with those of the school (or your “fit”)

Given the complex range of characteristics your interviewer will be examining during your admissions interview, it is essential to extensively prepare yourself for your admissions interview.

4.4 How should I prepare for my interviews?

Since admissions interviews are different from any other interview you’ve likely experienced in the past, it is important to have a clear plan of attack to ensure you can turn your interview into a spot in your preferred business school.

4.4.1 WHEN TO START YOUR PREPARATION

After clicking “submit,” and finally sending off your perfectly polished MBA applications, you may be tempted to take a few weeks off. Though many candidates choose to start preparing for interviews only after receiving invites, believing they are working efficiently, delaying the start of your preparation is a critical error.

In many cases, you will only have a week or even a few days to prepare after receiving your interview invitation. Just as with any element of your application, rushing is likely to lead to mistakes that ruin your chances with your dream school.

As such, we recommend that our clients start preparing for their interviews as soon as they submit their applications. This gives ample time for research, answer development, and lots of practice.

4.4.2 WHAT WILL MY INTERVIEW BE LIKE?

Each university has a distinctly different interview format that is designed to check if a given applicant truly “fits” with their program.

Wharton, for example, conducts a group interview session, followed by a 10-15 minute personal interview and reflection session with an admissions officer.

London Business School, on the other hand, conducts epic 2-hour or longer interviews that include a case study, behavioral questions, and questions designed to test your critical thinking skills and brain power.

Given the high degree of variation in both the format, tone, and question type for each business school, it’s a good idea to speak to current students and alumni you might know to get any tips on how to prepare. Furthermore, sites like Clear Admit have extensive archives of previous interview questions written by real applicants–questions you can then use to practice.

4.4.3 DO YOUR HOMEWORK

One of the easiest ways to eliminate a candidate from consideration is inconsistency between their written application and their interview.

For example, if you state in your admissions essays that you intend to pursue a career in management consulting, then, in your interview, say you want to launch a healthcare startup, this inconsistency will raise red flags for your interviewer. Though critical life events may have changed your career plan drastically in the weeks, the best plan of attack is to remain consistent with the story and brand you have presented in your written application.

Furthermore, you must make sure you research the school in-depth, or review your previous research. Top candidates often receive offers from multiple schools, and with MBA programs looking to protect their yields (the number of spots offered vs. the number of spots accepted), it is essential that you present a strong, convincing argument detailing why you want to attend their particular program. Bringing in specific information about the programs offerings and why you are particularly interested in these offerings is a surefire way to do this.

The interview is also a great chance to get a feel for the personality of the school, and for the schools to get a feel for your personality.

For Pascal Michels, Admissions Director at IESE Business School, interviewing is one of his favorite parts of the application process, seeing it as “ a privileged time and an opportunity to learn something from applicants.”

Remember this is your single chance to show the admissions committee the person behind the application, so make sure you’re ready to put your best foot forward.

4.4.4 PRACTICE WITH A PROFESSIONAL

Though current students and alumni can be a great resource when gathering information and tips for your MBA interview, they often don’t have the time or expertise needed to help you turn this information into winning answers that convince top business schools you deserve a highly-coveted place in their next incoming class.

Working with a highly-skilled admissions consultant can not only provide you with in-depth information about each school’s values and interview style, he or she can also bring years of experience to help you polish your interview skills.

Since developing answers on paper doesn’t always translate into a smooth interview, we also recommend scheduling one or more mock interviews with an MBA consultant to simulate your performance in a real interview setting and to get personalized feedback on where to continue to refine your approach.

For non-native English speakers, this preparation is even more important.

According to a survey of business schools carried out by the Graduate Management Admission Council in 2015, “Across all graduate management programs, English language proficiency exam results carry a minimum weight of 50% in relation to all other admissions factors for non-native English speakers, highlighting its importance.”

We’ve all heard the phrase “practice makes perfect,” and even former President Barack Obama practiced diligently for each and every speech he gave. Considering that a winning interview is a complex mix of information and delivery, make sure you devote as much time to preparing for this crucial step as you did for all other steps of your MBA application.

5. The Post-Application Phase

Though it may seem that your application process ends the moment you get the good news that you’ve passed into one or more of your target schools, you still need to make many important decisions that can have far-reaching effects on your life and career.

Knowing how to expertly navigate these scenarios can not only get you into a better-ranked university, it can also save you thousands of dollars!

5.1 The Waitlist

You’ve spent months diligently preparing your application, and weeks waiting for an admissions decision only to be told to wait a little longer. Though disappointing for many candidates, being “waitlisted” is not a death sentence for your application, but a chance for you to learn more about the program and really prove you are passionate about attending their school.

With the right plan of attack, you can overcome the odds and ensure you turn a spot on the waitlist to a spot in your dream school. The first step of this plan is to reflect on your application and understand what might have led you to not quite make the cut. Common reasons include:

• Low GMAT score
• Doubts about whether the program was your “top choice”
• Competitiveness of the pool in general

5.1.1 YOUR ACTION PLAN

First and foremost: follow directions.

When you receive notification that you have been placed on the waitlist, each school will also send over highly detailed instructions regarding what steps, if any, you need to take to reinforce your interest in the school.

It is extremely important that you follow these instructions, especially when these instructions are simply to wait and refrain from sending additional materials non-essential materials (essential updates would include a higher GMAT score, recent promotion, etc.).

If you are asked to send additional materials, make sure you take the time to prepare them carefully. This is a chance to show the school another side of you, though you should be careful to reinforce the brand you have been pitching to the school since the beginning. If you need to write an update email, getting professional help to you craft this all-important document could be a great investment.

Finally, if you haven’t visited the school yet, this could be a good chance to do so. Not only does a visit give you the chance to truly experience what the school offers in terms of campus culture, academics, and extracurriculars, it also helps reinforce your interest in attending the program.

Though it’s hard to be patient, it’s worth the wait, so don’t give up!

5.2 Deposits

After diligent preparation, you’ve done it! You’ve finally been offered a spot into one or more elite business schools. Now, it’s time to formalize the agreement.

Though often overlooked, the MBA deposit is an important strategic consideration you should factor in when building your application timeline.

To secure your spot in the next incoming class, most US business schools ask you to pay a non-refundable deposit of $1,000 to $3,000. For round 1 applicants, this amount is often due sometime in February, and for Round 2 applicants, this amount is usually due sometime in April. (Individual amounts and deadlines vary per school, so make sure to check the sites of your target schools for specific information.)

The major exception to this rule is Columbia Business School. Columbia employs a rolling admissions approach, meaning you usually get your admissions decision 6 weeks after applying. Applicants then have an average of 2 weeks to pay a $6,000 non-refundable deposit.

In similar fashion, INSEAD asks admitted students to pay a €10,000 non-refundable deposit weeks after admission.

This means that, if not planned properly, you may be on the hook for thousands of dollars to secure a spot at one school before hearing back from all of the programs you applied to. As such, make sure you plan your initial application strategy around these all-important deadlines.

As a final note, many loan programs, such as Prodigy Finance, do not allow you to finance the amount needed for a deposit for certain programs. To make sure this does not end your business school dream before it starts, we recommend creating a budget in advance to ensure you have the funds necessary to make all required payments.

5.3 Scholarship Negotiations

Despite the fact that an MBA at a top business school like Stanford Graduate School of Business costs as much as a house in many countries, many people pay full price without thinking twice.

However, with some skill and a clear plan, you can often land additional scholarship money from schools that have admitted you.

You will often receive notice of any scholarships you have been awarded shortly after receiving your notification of admission. At this point, the best course of action to improve your scholarship amount is to wait to hear if you are awarded scholarships from any other universities (as this may be used as leverage), get in touch with the school’s financial aid department to start the conversation, and begin drafting a polite, strategic letter demonstrating why you believe you should be reconsidered for a scholarship.

Each year, our clients are able to use this technique to negotiate their way into near full-tuition scholarships, so make sure you at least give negotiation a try!

6. Deciding Which Round is Best for You

Deciding when to submit your application is one of the most important strategic decisions you will need to make during the preparation process. For most schools, submitting your application as early as possible (especially for programs with “rolling admission” like Columbia Business School) is clear advantage, though clicking “submit” before your application is at its strongest can lead to disaster.

Unlike many other programs, business schools accept applications in rounds. Most top business schools have 3 rounds, though some schools like INSEAD, NYU Stern, and Dartmouth Tuck have 4 rounds.

By choosing to send your application at the optimal moment – when you have a strong GMAT score, outstanding letters, and polished essays – you can maximize your chances of turning your dream of attending a top MBA into a reality.

6.1 Round 1

When considering that most of the world’s most competitive programs open their doors to only 300-400 talented professionals each year, applying in the first round can make a difference. This is especially true if you are part of an over-represented group (like male management consultants), since it will be much harder to stand out the more people with a profile like yours the school hears from.

Furthermore, if you have a strong GMAT score, have solid letters of recommendation, and spent ample time crafting winning essays, applying in Round 1 gives you the chance to get your answer in mid-December, rather than in late March. This means that, if for some reason you are not admitted into your first choice schools in Round 1, you still have the option to apply to additional programs in Round 2.

On the other hand, even if you have a great GMAT score, if you need to rush to complete your application, it’s better to wait. With top schools receiving more than 10,000 applications each year, an essay thrown together last minute is likely not going to help you gain admission into your dream school.

6.2 Round 2

For most of the top schools, except Harvard Business School and Stanford Graduate School of Business, acceptance rates are nearly identical in Round 1 and Round 2, so if you have a stronger application in January than in September, don’t despair!

(Source: https://poetsandquants.com/2015/12/19/how-acceptances-rates-vary-by-round/)

Though we suggest perhaps increasing the number of schools you apply to in Round 2 to ensure you pass in at least one of your target schools, our clients consistently land spots in top programs every year.

6.3 Round 3

For applicants focusing on US schools, Round 3 may not be the best time to pursue your business school dream. Compared to Round 1 and Round 2, Round 3 acceptance rates are generally much lower, hovering between 0-2% for many top programs.

This does not mean that Round 3 is impossible. In general, our clients who have had the most success in Round 3 have been those who can show that mitigating circumstances prevented them from applying earlier and who cannot wait another year to start their studies. Reasons include military engagement, medical issues, and family crises. If you do decide to apply in Round 3 for a similar reason, make sure to include it in your application.

There are programs, however, that do seem to be friendlier than others when it comes to Round 3 applicants. According to Poets & Quants, the top 5 best US programs for Round 3 applicants are:

1. Dartmouth Tuck
2. NYU Stern
3. Northwestern Kellogg
4. Indiana Kelley
5. Harvard Business School (likely due to HBS’ 900+ student class size)

(Source: http://www.mbadataguru.com/blog/mba/mba-acceptance-rate-by-round-2018/)

6.3.1 HOW ROUND 3 CAN IMPACT YOUR CHANCES AS A REAPPLICANT

If you can’t point to any extenuating circumstances in your application, you may want to think how applying in Round 3 would impact your chances as a reapplicant the following year.

According to Brooke Baranzano, Associate Director of Admissions at Berkeley Haas, however, candidates shouldn’t be concerned, as applying in Round 3 and reapplying later shows you have a vested interest in attending their program.

Nonetheless, take care to ensure that you present a strong first impression when applying to the school and that you can demonstrate sufficient growth in your application between Round 3 and Round 1 of the next cycle. If you send identical materials, you may get an identical answer.

6.3.2 EUROPEAN SCHOOLS ARE AN EXCEPTION TO THE RULE

Unlike most US schools, European schools often work with 4 rounds, rather than 3. When applying to INSEAD, for example, many of our applicants choose to apply in Round 3 and pass at the same rates as clients applying in Round 1 and Round 2. If you’re interested in Europe and feel your application is strongest in this round, don’t think twice!

6.4 Round 4

Only a few schools have a fourth round of applications. This round is much more difficult to apply to, as the school has very few spaces available at this point in the application process. It is not, however, impossible to be accepted in Round 4. Depending on the school, the Round 4 deadline is usually in mid-March, with notification in mid-May.

6.5 Which round is best for me?

You should submit your application when it is at its best. If you’re not sure your essays are ready or if you plan to take the GMAT additional times to improve your score, you may need to change which round you choose for your application. In general, we recommend students apply in Round 1 or Round 2. If you are applying for European schools, Round 3 is also a viable option.

7. Hiring an MBA Consultant

If you buy a new car and decide a year later you’re not happy with your choice, it’s easy to sell it and select a better car for your needs. With an MBA, that’s not the case. An MBA is a lifetime investment, so choosing where to apply, how to position yourself, and how to choose between programs is of critical importance. That’s why hiring someone to act as an ally in the process can be the difference between satisfaction and disappointment.

7.1 Do I need to hire an MBA consultant?

Sometimes, we can all benefit from a little professional advice. Though the internet has endless articles on any topic under the sun, sifting through this information, determining what’s good advice and what’s less-than-ideal advice, and turning an application strategy into clear, compelling deliverables is more complex.

Though some applicants prefer a more hands-off approach, bringing an MBA consultant in as a thinking partner can give you the edge you need, especially with the most competitive programs.

It can also be helpful to bring a consultant in to review your admissions essays. Though a consultant worth their salt will never write your essays for you, they can help point out flaws in your story and guide you towards including examples that better align with a particular school’s values.

7.2 What are the benefits of hiring an MBA consultant?

MBA consultants are professionals who understand the MBA application process in-depth, and who can help you develop a strong strategy to give you a better chance of being accepted into an MBA program. MBA consultants can help you:

• Select schools
• Develop application strategies
• Choose and advise recommenders
• Develop strategies for essays
• Edit application materials
• Plan school visits
• Help you prepare for interviews

In short, an MBA can be your “ace up the sleeve,” ensuring your application stands out from the rest and gets you the results you’re after.

7.3 When should I hire an MBA consultant?

If you are planning to use an MBA consultant throughout the process, it’s a good idea to start meeting potential consultants at least one year in advance. This will ensure that you have enough time to correct any fixable issues in your application and to develop and execute a strong application strategy. Since most top consultants stop accepting clients quickly, it’s a good idea to get in touch at least one year in advance.

At Ellin Lolis Consulting, we have developed a special methodology for our clients that focuses on highlighting what makes you unique, because you don’t get into a Top MBA program by being like everyone else, you get in by standing out. We believe you need a strong personal brand that helps you put your best foot forward if you want to gain admission to highly competitive MBA programs.

We’re known to deliver the most complete and effective MBA consulting services in the market, with a 99% approval rate for our comprehensive consulting clients.  

That’s because our team cares about each and every one of our clients and is committed not only to getting you results, but in being your partner and adviser at each step of the process. Whether it is figuring out how to develop your personal brand or helping you phrase an email to the admissions staff, you can count on us for even your smallest questions.

Because we know an MBA is not simply a gamble, it’s an investment in your future.

If you’re ready to put the Ellin Lolis advantage to work for you in helping you reach your goals of attending a top business school, or if you’re not sure where to start, schedule your free consultation and let us help you get the best possible results and help you take your career and life to the next level.

8. Your Ideal Application Timeline

There is one key factor that separates applicants that are selected for top MBA programs and those who are not.

Planning.

A complete business school application requires you to take GMAT/TOEFL, develop your personal brand, decide on schools, ask for letters of recommendation, write essays, fill out forms, review your online presence, visit the school, reach out to alumni and current students, and prepare for interviews. And that’s just for one school!

With so many deliverables, it is crucial to have a clear game plan. In our experience, the students who consistently get places at top schools like Harvard, Stanford, Wharton and Chicago Booth are more often than not students who planned ahead.

That’s why we’ve created this comprehensive 28-step checklist to help you stay on track and turn your dream of attending a top MBA into a reality.