Deciding to do an MBA is a big decision. Besides the financial cost of attending the program, you will incur the opportunity cost of lost income or other benefits that you would have obtained from doing something else for those two years, and you will have to invest time and energy which are the two most valuable resources you have – they are not renewable.
If you decide that doing an MBA is the right move for you and your career, then you will have to go through the next part of the process. This means choosing the right program in the best university for you that brings you closer to achieving your career goals. Going through the process of preparing for and going through the MBA program is like nothing else you will have ever done before.
Here are 3 important lessons I learned. Things I wish someone had told me before doing my MBA.
1. The GMAT is Challenging and Crucially Important
The Graduate Management Admission Test is unlike any test you will have taken before. Technically it tests English and Math skills, but in reality it is a test of your stamina and logic. The test is Computer Adaptive meaning that if you get a question right the next one will be even more difficult. Hence, you are constantly challenged while taking the test. This is one of those tests where it is not enough to prepare for a couple of nights or weeks. It will take you a couple of days just to become familiar with the test format and question types.
The score you get will have a high impact on your chances of being admitted to your preferred MBA program. In addition, the higher the score, the higher the scholarship that will be offered to you by the university. Start preparing for the GMAT as soon as you decide that you want to pursue an MBA. Study every single day for around 3 hours. Sign up for the amazing Beat the GMAT forum. Join a study group. Take practice tests. Keep track of where your weaknesses are. Do not underestimate the test.
2. Everyone is Feeling Confused and Insecure
On the first day of orientation, you will meet countless people, hear all their names and remember none of them. Everyone will be asking each other the same questions: “Where are you from?”, “Why did you choose this university?”, “Which cohort were you placed in?” After formalities are over and you start associating faces with names, more detailed questions will follow: “What kind of consulting did you do?”, “Did you join the Consulting Club yet?”, “Are you attending the Deloitte information session this afternoon?”. Some of these questions will catch you off guard. Maybe you don’t know a lot about consulting, or even that there was a consulting club or an information session. You have to remember that everyone is in the same boat. No one has all the answers. Simply make sure to ask your peers what you do not know. After all, that’s why you are doing an MBA – to learn and grow.
The same lesson goes for classes. Do not feel intimidated. Even if you only have an idea and are not sure about the answer, you still need to muster the courage to raise your hand and speak out. The sooner you start speaking in class, the more confident you will become and the more you will learn.
3. Finding an Internship or Job Offer will be Difficult
It is always difficult to find an internship or job offer. However, some MBA candidates believe that just because they are enrolled in an MBA program it will be easier. It is not. You must start networking as soon as possible, send LinkedIn requests, request informational interviews, visit the career center, have people review your CV, and do everything you possibly can to get those offers coming in.
For example, consulting internships get chosen in September/October for the upcoming summer. If your program started in August/September, then you only have 2-3 months to get that summer internship. That means being able to crack case studies, answer behavioral questions, and negotiate the offer. If the summer internship goes well, then the company will gladly give you an offer to join them after you graduate. If this happens, then you can fully enjoy the second year of your MBA classes and focus exclusively on class and extracurricular activities without having to worry about job hunting.
Final Thoughts
If you have decided to do an MBA please take the GMAT seriously, remember that all your peers are in the same boat as you, and start looking for internships as soon as possible. By following these three simple pieces of advice you will maximize your chances of being admitted to your dream MBA program with a high scholarship, you will feel like an equal amongst your peers and gain full advantage from the program, and you will maximise your chances of securing an internship that will lead to a full-time job offer after you graduate.
Tringa Krasniqi holds an MBA degree from The George Washington University. She is the founder and consultant at Ivy Journey, an educational consulting firm for gaining admission to universities and winning scholarships.
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