I have been wondering about how MBA programs view classes taken pass/fail. I understand if it's not in your major it isn't given much consideration, but if it comes down to two equally qualified candidates, can that be used as a point against you? Many thanks

Pass/Fail should not hurt you. If all your quant courses were pass/fail, they would want to see some evidence that you can handle that type of class, but no, most people have some pass fail courses and it is not a big deal. They will look at those classes as probably being subjects that you were interested in and just wanted to take and enjoy...and leave it at that.

The key here is to align your activities with your interests. Think about things that you actually enjoy doing, activities you enjoyed in high school or college, and try to do something that extends that story. If you were on the soccer team, coach a soccer team. If you enjoyed art, get involved with bringing arts to inner city schools, etc... Try to make the activity fit with who you are.

The GMAT is also important. Activities matter as well, and if you have important activities in college you will want to continue to be involved in some way post college. Your life should not just be pure career. Hence it will not be a gap of five years by the time you apply. Your essays, which encompass most of these things, are incredibly important, along with recs and interview. In the essays you touch on academics, career, and also who you are and what your goals are. This is where you tell your story - everything gets tied together.

They look at everything. The number that is often quoted "average GPA" is the overall GPA. But if that overall GPA is based on easy courses at a lower ranked school, it will not weigh as heavily as if you majored in engineering at Stanford, or finance at Penn. They are not necessarily concerned with your major GPA, but if your major was easy or difficult that will factor into the assessment of your GPA. If your major was a business or highly quantitative subject, they will scrutinize it more carefully, because they want to know how you perform n these subjects.

Stacy Blackman Consulting
MBA Admissions Consulting

I was curious to know exactly what Harvard/Wharton/Stanford view as being the most important criteria for admission. How important is the GMAT (I've heard that its more important in business school admissions than the SAT is in college admissons)?

Also, since I am an undergraduate at a state university, and I am majoring in Engineering (minor in econ/math), is there anyway that I might be given more leniency for GPA standards?

As a final question, I wanted to ask you how the undergraduate major factors into Business School admissions. I've known many people who got into excellent business programs (Harvard/Wharton) with engineering undergrad, and I've noticed that many non-finance majors have fared very well in the admissions process. Is there an advantage to studying something other than business/econ as an undergrad?

How important is work experience for the MBA? I'v heard its possible to take the MBA immediatley after graduating for a bachelors without prior work experience but I'm inclined to take this with a grain of salt.

I have a few questions.

From looking at statistics, it doesn't seem GPA is weighted as heavily in business school admissions relative to other graduate programs, but rather the GMAT is more emphasized. However, I've heard that once you cross the 710 mark or so, the difference between a 730 and a 750 is negligible in terms of admissions prospects. Is this accurate? Also, what kind of weight, if any, do admissions officers place on your undergraduate institution? What about if they are under the same university?

Finally, it seems that some schools are leaning towards younger applicants, while others still prefer older applicants. I am planning on applying to business school after 2 or 3 years of WE - would it be best to apply to the schools looking for younger applicants and, should those not go well, wait another 2 years or so to apply to the other schools? Thanks

How have previously successful MBA candidates secured spots in top MBA programs after only two/three years of work experience for an investment bank? I know circumstances differ from one candidate to another, but the average work experience in top MBA programs is 6-7 years.

Hi Stacy,

I'm currently an undergraduate who will be joining Teach for America next year. I was wondering how TFA is viewed in terms of placement for business schools. If, for example, I were to do TFA for 2 years then go into one of the more traditional business industries (i-banking or consulting) for 2-3 years, would I be at a disadvantage compared to those who did a more traditional i-banking then PE career path? Would you even recommend applying to business school straight out of TFA, assuming that I have taken the GMAT (700+ score) and with a decent GPA (3.7+ from a top non-target)?

Finally, what advantages are there for taking the CFA? Do business schools take into consideration being CFA chartered in their admissions process?

There is not one aspect of your business school application that is more important than another. Schools do not assign numeric values or weights to the different components (i.e., gmat score, GPA, essays, interview, etc.). Schools do take into account where you go to school and your major in the evaluation. They know there are differences in the academic rigor across institutions as well as across majors. There is no preferred degree or one that will give you an advantage in business school admissions--it is best to pursue the degree that you are interested in so that you will be successful not only in terms of GPA, but also in your work experience after college.

Most schools prefer that applicants have at least 2 years of professional work experience prior to entering business school. Professional work experience is defined as full-time, professional-level work after graduating with a bachelor's degree. Having experiences you can draw on during class discussions as well as the maturity you gain from working are important for you to maximize your learning in business school. While some schools do take applicants directly from undergraduate studies, these folks generally are high academic achievers (>3.8 GPA, >700 GMAT) and have done some professional internships or have experience in a family business. Likewise, they have extensive evidence of leadership and teamwork skills from extracurricular activities during college.

There is no component of the application weighted heavier than another. Applicants are viewed holistically, and admissions professional are looking for applicants who are strong overall. So both the GMAT and GPA are equally important and can help to mitigate each other. For example, maybe your GPA is on the low side because you worked during school; scoring well on the GMAT can mitigate that possible weakness because it confirms your ability to succeed in the classroom. Business schools are also aware of the variance in rigor between schools and majors, so where you go to school and your major is accounted for in the evaluation of your application.

Yes, there is a trend with some programs to admit younger applicants. However, most schools still prefer applicants to have at least 2 years of professional experience. If you plan to apply when you have 2-3 years, then there is no reason to select your target schools based on some notion of whether or not the school likes younger/older applicants. You want to target schools that are the best match for your career goals.

The success of an application to business school is not an exact science; there is no secret formula or guarantee of admission if you meet a threshold. Admissions is based on evaluating an applicant holistically to determine if s/he can handle the work, has realistic career goals, has a solid rationale for getting a MBA, and will be a cultural fit at the school. Depending on the individual, some folks are ready for business school after 2 years of work experience and others are ready after 5 years. Where you are on your career path and in your life are critical in selecting the right time to go to school. Finally, with regards to the average years of experience for a school, it is simply that--an average. That means half the class is less than that number and half the class is above that number. Thus you will find a range of experience in any class with the majority of students falling somewhere between 2 and 8 years of work experience.

Congratulations on joining TFA! That is quite an accomplishment. Business schools are very aware of the selectivity of TFA and the caliber of its members, so that should serve you well in the future. TFA has partnerships with many graduate programs, including business schools. Consequently, you should think about when you might want to go to business school as many b-schools waive the application fee for TFA members in their final year of service. If you score well on the GMAT (700+) and have a GPA over a 3.5, I think you could be a competitive applicant after your two years of TFA. However, if you feel you need the corporate work experience first, then you should consider working for a few years prior to applying. Essentially, it comes down to what makes the most sense for you in relation to your career goals and where you are in your personal life. Business schools do not have industry preferences nor do they value banking experience over other industries.

As for the CFA, it will not give you any sort of advantage, per se, but can help to demonstrate your quantitative aptitude.

Congratulations on your admission to some great programs! I would suggest thinking about what you want in a program, make a list, and then prioritize the list. Then you can measure each program against the list to see if one rises to the top. Don't forget aspects like cultural fit, location, and industry/alumni connections as these can be as valuable to your experience as curriculum, resources, and programs. Based on the schools, I don't think you can make a "wrong" decision; it is just a matter of determining which is the best fit for you.

Hi Stacy

I have been following your blog for quite sometime. I have offers
from three B-schools: CMU-Tepper, Toronto-Rotman and McCombs-Texas.

Considering that I am an international coming from non-fin background which school should I be looking at to launch a career in asset-management.

(My fellow primates chip-in here and let me know what you guys think)

Cheers

Congratulations on your admissions offers! What great choices you have in front of you, so you can't make a "wrong" decision. I think it is helpful to approach this decision in a systematic manner making sure you are picking the program that is the best fit. In order to do that, you need to make a list of what is important to you in a program (i.e., curriculum, industry connections/placement success, alumni network, culture, location, etc.). Then you will want to prioritize the list and measure each program against your list. Good luck with your decision and enjoy business school!

I posted this in the general thread but would love your opinion as well:

"I am thinking of studying abroad in China for the second semester of my senior year. However, I'm concerned because my GPA is relatively low and it may be a better idea to stick around at my school to take some classes and boost my GPA (3.5+ --> 3.6+)

In terms of business school admissions, which would make a more positive impact?

I also did poorly in some quantitative courses due to being lazy. Would it be a good idea to stack my last semester with quantitative courses to prove I can count?

Business schools do not usually do a recalculation of GPAs. They rely on the applicants to truthfully report the accurate number and expect it to match what is on their transcripts. Nevertheless, you should not rule out the possibility that a school will do its own calculation. In doing so, the school will use the transcripts. Thus you need to determine how these courses will appear on your transcript.

Whether or not you change your intermediate accounting class to pass/fail is your call. If you can do that and still earn the credit, then you might consider it so it does not affect your GPA. Generally speaking, I think schools would rather see an actual grade earned. However, as an applicant, I think if you can change a course to pass/fail to not hurt your GPA then it might be worth doing so. Since there are no grade points associated with a pass/fail, then it will not be part of a GPA calculation.

Simply working in finance will not be enough to mitigate poor marks in quantitative courses. Business schools need to see that you have the aptitude to succeed in the classroom. I think it would be helpful to not only your future applications, but also your career if you take some additional quantitative courses and do well in them. You will also want to score highly on the quantitative section of the GMAT. Finally, you will want to succeed professionally in your career path to demonstrate your ability to practically apply quantitative skills.

Hey Stacy, when you say people can take quantitative courses after we graduate, are you talking about taking community college courses?

Also, would I include these extra community college courses in calculating my GPA, or am I supposed to calculate and write 2 separate GPA's on the business school application (1 for my university and 1 for the courses I've taken at a community college)?

Yes, you can take courses at a community college or university. These courses would not count in your reported GPA for your degree since they do not count towards your degree, but you do want to take them for a grade to show you mastered the material.

Any of these scenarios will suffice, so choose what works best for you to achieve your goals. As long as the school sees the grade you earn in the courses on your transcript, then you can take them domestically or abroad.

Hey Stacy, thanks for taking the time to answer the questions. I have one for you. I'm a senior, finance major in college. I really enjoy music so much that I'm thinking about getting an associate degree in music after I graduate. Would this look good when applying to business school? or do they not care?

Also, I'm planning on taking the GMAT as soon as I graduate. I know the test scores are good for 5 years so is 5 years of work experience enough to get into the top MBA programs.