Frequently Asked Questions
Ans 1:
An MBA is a post graduate degree in business communication. MBA stands for Masters of Business
Administration and is a very popular course for business students the world over. The MBA program is
recognized worldwide and is considered as a major step towards a successful business management career.
Ans 2:
Typically, most MBA programs accept applications for the Fall semester starting January. The application
deadlines for financial aid are end of February. The typical final deadlines for Fall are end of April for
international students and end of May for US students.
Ans 3:
Please refer to our section on Admissions.
Ans 4:
You should follow these steps:
- Search for Schools (Refer to our section on Business Schools)
- Visit the schools' websites to evaluate their admission requirements
- Apply online (most schools have online application on their websites) OR Download the forms and make a paper application
Ans 5:
Please refer to our section on Financial Aid.
Ans 6:
It is advisable to take the GMAT and have the score ready before you apply to schools. GMAT score is an
important criterion for the schools to consider while offering you admission.
Ans 7:
Transcripts are complete details of your academic record. They show the subjects you have learnt, the
language in which you studied and the hours spent on each subject. Thus Transcripts are an ideal academic
record for Business Schools to consider when offering you admission.
Ans 8:
Accreditation is a process of voluntary, non-governmental review of educational institutions and
programs. Institutional accreditation reviews entire colleges and universities. The AACSB is the most common
and standard accreditation for MBA programs. It ensures that the Business Schools adhere to basic quality standards
of education. Employees trust the accreditation and you are more likely to get a job if you study from an
accredited institute.
Ans 9:
The details of the fees charged by the Business Schools are posted on the website of the school or university.
The fees vary from school to school and they are usually charged per credit per semester.
Ans 10:
If you from a non-English speaking country then you are required to take the TOEFL to study in the USA.
Usually students from India, China and South America as well as countries in Europe except UK are required
to take the TOEFL. Students coming from UK, Australia and NZ need not take the TOEFL.
Ans 11:
An MBA program strives to equip its students with all the necessary knowledge, theoretical as well as
practical, which can benefit them tremendously in managerial and administrative jobs. This does not apply
only to business, as is usually understood by most people, but can also benefit people to get into executive
positions in the public sector and government jobs as well.
Ans 12:
Your work experience will help you get you into the college of your choice. Remember that almost all
schools require that the candidate have some amount of work experience if they have to be admitted. This
doesn't mean that you can't get into a business school without work experience. This simply means that your
chances of admission increase if you have work experience.
Ans 13:
The MBA major or specialization has to be chosen based on your interest, educational background and work
experience. Refer to the MBA Toolkit for more details.
Ans 14:
You will learn a range of valuable skills from the MBA program, such as:
- Business Knowledge: The MBA program and business schools give you valuable knowledge about business
and all its related aspects. You learn about business strategies and concepts, not just on paper, but the
training and internship required in an MBA course, teaches you how to use these skills in practical life
and in day to day business operations.
- Leadership Abilities: An MBA degree involves rigorous training, assignments, reports, presentations,
and group projects, all of which give you the necessary abilities to handle real-life business situations.
This helps to set you apart from those who do not have such expertise and can make you a leader in your
chosen field.
- Networking: The alliances that you form with your classmates and the network that you create is deemed
as one of the most important and valuable things that an MBA program can give you. MBA graduates have
often felt that the associations formed during the MBA course are resources that are invaluable and can be
drawn upon for years after the MBA degree has been achieved.
Ans 15:
While most schools and educational institutions that offer MBA programs have their respective criteria for
getting into an MBA course, the two most significant factors that are common to most schools and MBA courses
are:
- Years of Education: MBA programs in the USA usually require the students to have completed 16 years of
education. Students who have 15 years of education need to study one more year before they can apply to MBA
programs in the USA.
- Age and Experience: The average age of students applying for the MBA is about 26-30 years. Most schools
require their applicants to have 4-5 years of prior work experience before joining an MBA course. Since
experience is usually believed to come with age, those under 25 are generally not accepted for an MBA
program as it is assumed that such students do not have the required work experience.
- GMAT Score: Having a GMAT score in excess of 600 is essential if you wish to get into the A grade MBA
schools. Although just a good GMAT score is not a guarantee for admission to an MBA program, it does better
your chances tremendously.
Ans 16:
An MBA degree provides you with innumerable career opportunities in various fields. It is especially
beneficial to get jobs in high level positions such as managerial and executive level jobs. Whether you
are looking to further your career in your existing job or are looking to change your job and start your
career afresh, an MBA degree can be very valuable in either scenario.
With an MBA degree under their belt, employees have a whole new world opened up to them and are elevated
to managerial positions on the strength of the additional abilities and knowledge gained through the MBA
program. If you are looking for a change in careers, an MBA degree can be invaluable in careers such as
Marketing, Finance, IT etc.
For more information refer to our MBA Admissions section.