MBA Guide On Selecting A School

THE OFFICIAL GUIDE TO CHOOSING AN
ESSENTIAL
INFORMATION
TO TAKE YOUR
CAREER TO THE
NEXT LEVEL
THE OFFICIAL GUIDE TO CHOOSING AN MBA
03
Editor David Taylor. Art director Erol Sleyman. Sub-editors David Devonport,
Stuart Goodwin. Writers Russ Thorne, Helena Pozniak, Matt Symonds, Widget Finn,
Peter Brown. Illustrations by Nick Higgins. Sales category manager Darshan
Loganathan. MBA account manager Gerard Gaffney. Sales executive Edward Kelly.
Printed by Polestar UK Print Limited, 2 Wyncolls Road, Severalls Business Park, Colchester, Essex CO4 9HU
2013
THE OFFICIAL
GUIDE TO
CHOOSING AN
MBA
CONTENTS
07
INTRODUCTION
DAVID TAYLOR
09
FOREWORD
VANESSA HARWOOD-WHITCHER
12
WHY DO AN MBA?
20
HOW TO CHOOSE
28
HOW TO APPLY
36
MBA FINANCING
44
AFTER THE MBA
50
FURTHER INFORMATION
03
Editor David Taylor. Art director Erol Sleyman. Sub-editors David Devonport,
Stuart Goodwin. Writers Russ Thorne, Helena Pozniak, Matt Symonds, Widget Finn,
Peter Brown. Illustrations by Nick Higgins. Sales category manager Darshan
Loganathan. MBA account manager Gerard Gaffney. Sales executive Edward Kelly.
Printed by Polestar UK Print Limited, 2 Wyncolls Road, Severalls Business Park, Colchester, Essex CO4 9HU
2013
THE OFFICIAL
GUIDE TO
CHOOSING AN
MBA
CONTENTS
07
INTRODUCTION
DAVID TAYLOR
09
FOREWORD
VANESSA HARWOOD-WHITCHER
12
WHY DO AN MBA?
20
HOW TO CHOOSE
28
HOW TO APPLY
36
MBA FINANCING
44
AFTER THE MBA
50
FURTHER INFORMATION
1
8

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.
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www.esc-rennes.fr
MINISTRE
DE LENSEIGNEMENT SUPRIEUR
ET DE LARECHERCHE
FRANCE
How far do your career plans go?
London Business School offers Masters degree
programmes for every career stage. The portfolio
includes the Masters in Management for recent
graduates, a full-time MBA, the Masters in
Finance, a choice of Executive MBA programmes,
and the Sloan Masters in Leadership and
Strategy.
Our programmes consistently rank among the
best in the world and our diverse, high-calibre
students represent every nationality, industry and
career objective.
Its time to make bigger plans with
London Business School.
For more information about our portfolio
of top-ranked Masters degree programmes,
please visit www.london.edu/masters/
London Business School
Regents Park
London NW1 4SA
United Kingdom
Tel: +44 (0)20 7000 7500
Email: masters@london.edu
www.london.edu/masters/
Masters degree programmes
for every career stage
1
8

M
O
N
T
H
S
2
.
5

D
A
Y
S

P
E
R

M
O
N
T
H
A
L
L

C
O
U
R
S
E
S

I N

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I S
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B
u
s
i
n
e
s
s
A
d
m
in
is
t
r
a
t
io
n
]
www.esc-rennes.fr
MINISTRE
DE LENSEIGNEMENT SUPRIEUR
ET DE LARECHERCHE
FRANCE
How far do your career plans go?
London Business School offers Masters degree
programmes for every career stage. The portfolio
includes the Masters in Management for recent
graduates, a full-time MBA, the Masters in
Finance, a choice of Executive MBA programmes,
and the Sloan Masters in Leadership and
Strategy.
Our programmes consistently rank among the
best in the world and our diverse, high-calibre
students represent every nationality, industry and
career objective.
Its time to make bigger plans with
London Business School.
For more information about our portfolio
of top-ranked Masters degree programmes,
please visit www.london.edu/masters/
London Business School
Regents Park
London NW1 4SA
United Kingdom
Tel: +44 (0)20 7000 7500
Email: masters@london.edu
www.london.edu/masters/
Masters degree programmes
for every career stage
INTRODUCTION

THIS GUIDE
WILL HELP YOU
FIND YOUR WAY
THROUGH THE
MBA MAZE
W
hat do high-ying execu-
tives of blue-chip compa-
nies, multimillionaire entre-
preneurs, successful CEOs
and business leaders of the
global economy all have in
common? It goes without saying that
they have drive, determination and an
unwavering belief in their own decisions
in spades. But a cursory glance at all of
their CVs will also reveal that they are
more than likely to be MBA graduates.
If you are considering joining their
ranks and taking an MBA or a Masters
in Business Administration to give it
its full title then The Ofcial Guide to
Choosing an MBA is the perfect place to
start your research.
To the uninitiated, there appear to be
a bewildering array of courses, accredi-
tation bodies and business schools all
over the world competing for your hard-
earned fees. The secret is not to be over-
whelmed and take your time to make
the right decision. If that means defer-
ring for a year while you scope out the
opportunities, then so be it. Dont rush
in without doing the research.
An MBA requires a considerable
amount of commitment both nan-
cially and academically. Its vital, there-
fore, that you make the right choice of
provider and select the course location
that ts perfectly with your chosen
career path from the outset. And its
equally important that you choose to
study an MBA for all the right reasons.
You will expect to see some returns on
your investment immediately after you
graduate, but dont assume that your
shiny new qualication will magically
result in a telephone number salary.
Likewise, it also wont guarantee you
an accelerated path to the boardroom.
And its denitely not the easy option to
take up while you consider your options
and wait for the economy to come out of
the downturn.
This guide will help you nd your way
through the MBA maze, from deciding
whether the qualication really is right
for you, to what to expect after you have
graduated. There is help and advice on
how to pick your perfect course, insider
tips on how to make the most of the ap-
plication process and a chapter on help-
ing nance your studies.
I hope the guide answers a few of your
questions and helps you make the right
decision on your future. Good luck!
www.independent.co.uk
DAVID TAYLOR
Education special projects editor, The Independent
07
The adaptable MBA
that fits in with your lifestyle
The Oxford Brookes Global MBA can be built around your needs and
studied on campus in Oxford or anywhere in the world online at a pace
which suits you.
Inspiring leaders are shaped by truly global connections, collaboration
and creativity all working together in commercial practice. These are
the cornerstone of this MBA programme.
You will benefit from a diverse network of international participants,
alumni, faculty and corporate links and it is the diversity of these people
that makes this MBA unique.
Experience the adaptability of the
Oxford Brookes Global MBA - ranked
in the top 10 UK MBAs.
(QS Top MBA rankings 2012)
Find out more at:
www.mbaoxford.com
THE OXFORD
BROOKES GLOBAL MBA
OBU NL MBA Ad 148x210_HR2:Layout 1 13/3/13 16:57 Page 1
INTRODUCTION

THIS GUIDE
WILL HELP YOU
FIND YOUR WAY
THROUGH THE
MBA MAZE
W
hat do high-ying execu-
tives of blue-chip compa-
nies, multimillionaire entre-
preneurs, successful CEOs
and business leaders of the
global economy all have in
common? It goes without saying that
they have drive, determination and an
unwavering belief in their own decisions
in spades. But a cursory glance at all of
their CVs will also reveal that they are
more than likely to be MBA graduates.
If you are considering joining their
ranks and taking an MBA or a Masters
in Business Administration to give it
its full title then The Ofcial Guide to
Choosing an MBA is the perfect place to
start your research.
To the uninitiated, there appear to be
a bewildering array of courses, accredi-
tation bodies and business schools all
over the world competing for your hard-
earned fees. The secret is not to be over-
whelmed and take your time to make
the right decision. If that means defer-
ring for a year while you scope out the
opportunities, then so be it. Dont rush
in without doing the research.
An MBA requires a considerable
amount of commitment both nan-
cially and academically. Its vital, there-
fore, that you make the right choice of
provider and select the course location
that ts perfectly with your chosen
career path from the outset. And its
equally important that you choose to
study an MBA for all the right reasons.
You will expect to see some returns on
your investment immediately after you
graduate, but dont assume that your
shiny new qualication will magically
result in a telephone number salary.
Likewise, it also wont guarantee you
an accelerated path to the boardroom.
And its denitely not the easy option to
take up while you consider your options
and wait for the economy to come out of
the downturn.
This guide will help you nd your way
through the MBA maze, from deciding
whether the qualication really is right
for you, to what to expect after you have
graduated. There is help and advice on
how to pick your perfect course, insider
tips on how to make the most of the ap-
plication process and a chapter on help-
ing nance your studies.
I hope the guide answers a few of your
questions and helps you make the right
decision on your future. Good luck!
www.independent.co.uk
DAVID TAYLOR
Education special projects editor, The Independent
07
The adaptable MBA
that fits in with your lifestyle
The Oxford Brookes Global MBA can be built around your needs and
studied on campus in Oxford or anywhere in the world online at a pace
which suits you.
Inspiring leaders are shaped by truly global connections, collaboration
and creativity all working together in commercial practice. These are
the cornerstone of this MBA programme.
You will benefit from a diverse network of international participants,
alumni, faculty and corporate links and it is the diversity of these people
that makes this MBA unique.
Experience the adaptability of the
Oxford Brookes Global MBA - ranked
in the top 10 UK MBAs.
(QS Top MBA rankings 2012)
Find out more at:
www.mbaoxford.com
THE OXFORD
BROOKES GLOBAL MBA
OBU NL MBA Ad 148x210_HR2:Layout 1 13/3/13 16:57 Page 1
FOREWORD
GRADUATES
SAY THE VALUE OF
THEIR MBA DEGREE
IMPROVES
OVER TIME
W
hen I chose where to study
my MBA, a key factor in
the decision-making process
was quality. With so many
programmes to choose from,
and knowing I was about to
make a signicant investment in my fu-
ture, I wanted to make the right choice.
I knew I wanted to study part-time as
I was working as a general manager of a
training company which operated six
days a week. Location was also important
as my working life wasnt very exible.
These and many other personal and
professional factors are all part of the
process to choosing the right MBA for
you. What will help narrow down your
search is to choose from quality busi-
ness schools that provide cutting-edge
courses that have been accredited.
Having accreditation from the As-
sociation of MBAs (AMBA) is a stamp
of quality and means a business school
has achieved internationally recognised
standards. Their MBA programme will
have been rigorously assessed by an
independent panel of senior academ-
ics that look at the curriculum, faculty,
students and facilities. Accreditation
denes your MBA as world-class and
one that employers recognise.
This guide will help you look at all
your options, offer advice on what to
think about when choosing your MBA
and what the MBA offers you. Whether
you are from the private or public sec-
tor, the MBA will enhance your career.
I found the MBA gave me condence to
know my business decisions were based
on tried and tested frameworks, and it
opened doors to work with colleagues
from different disciplines. The MBA
also made me challenge my assump-
tions and think far more strategically
and professionally.
The MBA is a long-term investment.
In AMBAs Career Survey, the majority
of graduates who were surveyed said
the MBA was a degree for life and that
they felt the value of their degree had
improved over time.
As you begin your MBA journey by
choosing where to study, you can be
reassured that while it is a major com-
mitment and a lot of hard work, it is an
investment worth making.
I hope you nd this guide a valuable
resource in helping you with your deci-
sions on choosing an MBA.
For more information
visit www.ambaguide.com
VANESSA
HARWOOD-WHITCHER
Chief operating officer, the Association of MBAs
09
FOREWORD
GRADUATES
SAY THE VALUE OF
THEIR MBA DEGREE
IMPROVES
OVER TIME
W
hen I chose where to study
my MBA, a key factor in
the decision-making process
was quality. With so many
programmes to choose from,
and knowing I was about to
make a signicant investment in my fu-
ture, I wanted to make the right choice.
I knew I wanted to study part-time as
I was working as a general manager of a
training company which operated six
days a week. Location was also important
as my working life wasnt very exible.
These and many other personal and
professional factors are all part of the
process to choosing the right MBA for
you. What will help narrow down your
search is to choose from quality busi-
ness schools that provide cutting-edge
courses that have been accredited.
Having accreditation from the As-
sociation of MBAs (AMBA) is a stamp
of quality and means a business school
has achieved internationally recognised
standards. Their MBA programme will
have been rigorously assessed by an
independent panel of senior academ-
ics that look at the curriculum, faculty,
students and facilities. Accreditation
denes your MBA as world-class and
one that employers recognise.
This guide will help you look at all
your options, offer advice on what to
think about when choosing your MBA
and what the MBA offers you. Whether
you are from the private or public sec-
tor, the MBA will enhance your career.
I found the MBA gave me condence to
know my business decisions were based
on tried and tested frameworks, and it
opened doors to work with colleagues
from different disciplines. The MBA
also made me challenge my assump-
tions and think far more strategically
and professionally.
The MBA is a long-term investment.
In AMBAs Career Survey, the majority
of graduates who were surveyed said
the MBA was a degree for life and that
they felt the value of their degree had
improved over time.
As you begin your MBA journey by
choosing where to study, you can be
reassured that while it is a major com-
mitment and a lot of hard work, it is an
investment worth making.
I hope you nd this guide a valuable
resource in helping you with your deci-
sions on choosing an MBA.
For more information
visit www.ambaguide.com
VANESSA
HARWOOD-WHITCHER
Chief operating officer, the Association of MBAs
09
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12
I
ts a long way from Capitol Hill, Washing-
ton DC, to Gibbet Hill, near the University
of Warwick, but Brian Bosak, who left a
career in politics to study for an MBA at
Warwick Business School, thinks the trip
will be worth it. Working for the federal
government in the US is both challenging and
fun, but the pay is very low, he says. I wanted
to change careers, and I felt the MBA provided
me with the hard and soft skills, as well as the
CV boost needed to help me achieve that.
Now part-way through the full-time pro-
gramme, Bosak has embraced life away from
the corridors of congress. I came in hoping to
understand business better from all aspects,
and I feel that Warwick has provided some
great avenues for learning, he says. In addi-
tion to studying, Bosak is one of a team of stu-
dents taking part in the global 2013 Hult Prize,
which seeks solutions to the worlds pressing
social challenges and offers a prize of $1m
(650,000) to implement their winning project
his team is through to the European nal in
London. Hopefully Ill be able to use the skills
I gain from my MBA to be a well-rounded can-
didate for my future employer.
Bosak is not alone in hoping his MBA expe-
riences and qualications will contribute to a
brighter future. For more than half a century,
the MBA has been equipping professionals
with the broad range of skills needed to oper-
ate at the highest levels. Programmes are avail-
able at business schools all over the world in
classes ranging in size from 10 to nearly 1,000,
and applications are on the rise: according to
the Graduate Management Admissions Coun-
cil (GMAC), which administers the GMAT test
for business schools, 2012 saw an 11 per cent
increase in the number of tests taken com-
pared to 2011.
Part of the reason for this ongoing popular-
ity could be that the MBA hasnt stood still. As
THE MBA HASNT
STOOD STILL AS THE
BUSINESS WORLD HAS
EVOLVED, SO TOO HAS
THE QUALIFICATION
the business world has evolved, so too has the
qualication. Anyone expecting to nd pro-
grammes designed solely to catapult ambitious
executives up the nancial services ladder may
be surprised by the diversity of
todays courses. The global -
nancial crisis changed business
education, in the way we teach
and how we market ourselves,
explains Professor Mark Tay-
lor, dean of Warwick Business
School (WBS). It has been a
wake-up call for business edu-
cation, just as it has been for the
world more generally.
To that end, along with traditional analyti-
cal skills, the WBS programme incorporates el-
ements of behavioural science and encourages
an holistic approach to management. Innova-
tion and creativity are essential if economies
are to drag themselves out of the doldrums,
says Professor Taylor. Were bringing creativ-
ity back to the boardroom, with courses spe-
cically designed to provide an understanding
of creative leadership and innovation.
Anyone weighing up wheth-
er or not the MBA is suitable for
them might be encouraged by
the diversity of programmes,
and also of their student bod-
ies. Our programme brings to-
gether students from a variety
of professional, social and cul-
tural backgrounds, says Koen
Dewettinck, programme direc-
tor of the executive MBA at Vl-
erick Business School, Ghent. Alongside those
with a background in engineering or econom-
ics are students from the worlds of law, medi-
cine, philology and psychology, he explains.
Its not so much the background that counts,
but rather how taking the MBA ts within the
DO AN MBA?
The ultimate business qualication is more
popular than ever, and with good reason
why
BY RUSS THORNE
12
I
ts a long way from Capitol Hill, Washing-
ton DC, to Gibbet Hill, near the University
of Warwick, but Brian Bosak, who left a
career in politics to study for an MBA at
Warwick Business School, thinks the trip
will be worth it. Working for the federal
government in the US is both challenging and
fun, but the pay is very low, he says. I wanted
to change careers, and I felt the MBA provided
me with the hard and soft skills, as well as the
CV boost needed to help me achieve that.
Now part-way through the full-time pro-
gramme, Bosak has embraced life away from
the corridors of congress. I came in hoping to
understand business better from all aspects,
and I feel that Warwick has provided some
great avenues for learning, he says. In addi-
tion to studying, Bosak is one of a team of stu-
dents taking part in the global 2013 Hult Prize,
which seeks solutions to the worlds pressing
social challenges and offers a prize of $1m
(650,000) to implement their winning project
his team is through to the European nal in
London. Hopefully Ill be able to use the skills
I gain from my MBA to be a well-rounded can-
didate for my future employer.
Bosak is not alone in hoping his MBA expe-
riences and qualications will contribute to a
brighter future. For more than half a century,
the MBA has been equipping professionals
with the broad range of skills needed to oper-
ate at the highest levels. Programmes are avail-
able at business schools all over the world in
classes ranging in size from 10 to nearly 1,000,
and applications are on the rise: according to
cil (GMAC), which administers the GMAT test
for business schools, 2012 saw an 11 per cent
increase in the number of tests taken com-
pared to 2011.
Part of the reason for this ongoing popular-
ity could be that the MBA hasnt stood still. As
THE MBA HASNT
STOOD STILL AS THE
BUSINESS WORLD HAS
EVOLVED, SO TOO HAS
THE QUALIFICATION
the business world has evolved, so too has the
qualication. Anyone expecting to nd pro-
grammes designed solely to catapult ambitious
executives up the nancial services ladder may
be surprised by the diversity of
todays courses. The global -
nancial crisis changed business
education, in the way we teach
and how we market ourselves,
explains Professor Mark Tay-
lor, dean of Warwick Business
School (WBS). It has been a
wake-up call for business edu-
cation, just as it has been for the
world more generally.
To that end, along with traditional analyti-
cal skills, the WBS programme incorporates el-
ements of behavioural science and encourages
an holistic approach to management. Innova-
tion and creativity are essential if economies
are to drag themselves out of the doldrums,
says Professor Taylor. Were bringing creativ-
ity back to the boardroom, with courses spe-
cically designed to provide an understanding
of creative leadership and innovation.
Anyone weighing up wheth-
er or not the MBA is suitable for
them might be encouraged by
the diversity of programmes,
and also of their student bod-
ies. Our programme brings to-
gether students from a variety
of professional, social and cul-
tural backgrounds, says Koen
Dewettinck, programme direc-
tor of the executive MBA at Vl-
erick Business School, Ghent. Alongside those
with a background in engineering or econom-
ics are students from the worlds of law, medi-
cine, philology and psychology, he explains.
Its not so much the background that counts,
but rather how taking the MBA ts within the
DO AN MBA?
The ultimate business qualication is more
popular than ever, and with good reason
why
BY RUSS THORNE
14
future ambitions of our participants. Some see
it as making the next step in their organisa-
tion, others as a turning point in their career.
So with the qualication becoming increas-
ingly relevant to students from many indus-
tries, what is it offering them that time served
in the natural course of their careers might not?
Perspective, says Dewettinck. The strength of
an MBA programme is the combination of get-
ting insights across the full spectrum of man-
agement theory, together with development
opportunities that will build the students
competencies and condence to take on more
responsibility within organisations.
Its about nding and lling knowledge
gaps, according to Andrew Mason, founder
and technical director of RandomStorm, an in-
formation security company, who is currently
studying for his MBA at the University of Leeds.
My MBA has
provided real
clarity in my
understanding
of aspects of
business that
my past expe-
riences could
not give me,
he explains.
Ive applied
this knowledge in real world situations, which
has had a positive impact on my business.
An MBA can also give executives the skills
needed to have involvement at operational lev-
el in an increasingly wide and less traditional
range of industries. Jonathan Shalit is CEO of
ROAR Global, a sports, entertainment and mu-
sic management company, and visiting profes-
sor at Henley Business School, which offers a
new MBA for the music industry. He believes
the programme is providing knowledge to an
area that sorely needs it. Music executives
might swiftly climb the ladder based on their
ability to develop talent, but then struggle due
to their lack of knowledge of core business
practices. An MBA can extend the experience
and knowledge of these disciplines and can
strongly assist in bringing authority to all a
creative executive might do, he says.
Despite all the evolution in courses and ap-
proaches to learning, the elephant in the room
is the eye-watering cost of an MBA, which can
run into many tens of thousands of pounds.
Potential students need to approach this with
their eyes open, but there are some encourag-
ing reports in terms of getting a return on the
investment. The latest gures from the Associ-
ation of MBAs (AMBA) show that, globally, the
average graduates salary rose 35 per cent im-
mediately after their MBA, with an average UK
salary rising from 40,350 pre-MBA to 51,000
post-MBA, and to 60,000 within a year.
Employment prospects are positive, ac-
cording to Jane Delbene, director of marketing
at GMAC. Management education graduates
defy dismal employment gures, she says.
Our 2013 Alumni Perspectives Survey report
shows that worldwide, alumni reported the
highest employment rate compared with the
past ve years. And 92 per cent of the class
of 2012 management education graduates
walked straight into a job.
With three out of four of those graduates re-
porting that they couldnt have landed their job
without the skills, knowledge and abilities that
they attained through their graduate manage-
ment degree, it might be tempting to assess the
value of an MBA purely in terms of nancial
return. However, many schools and graduates
highlight the importance of the learning ex-
perience itself, and the personal development
that comes with it, as being equally important.
Our programme is about touching the
brains, hearts and hands of our students, ex-
plains Dewettinck, who believes that studying
overseas can also add value to the MBA. Get-
ting out of your comfort zone, taking some dis-
tance from your family and friends and being
immersed into another culture creates tremen-
dous opportunity for further self-development.
It doesnt take our students too long to see their
new country as a second home.
SOME SEE AN MBA
AS THE NEXT STEP IN
THEIR ORGANISATION,
OTHERS AS A CAREER
TURNING POINT
ALICE MAYNARD IS
CHAIR OF SCOPE &
AN ASHRIDGE MBA
Im a disabled
woman. I asked our
HR director how I
would become UK
MD and she said: You
couldnt. Just like
that! I dont know if
that was because
I was a woman, a
wheelchair user or
just incompetent. So
I went off to prove I
wasnt incompetent!
O
skar Handrick gained an
MBA from Insead in France.
He now works in Tokyo for
Rosetta Stone.
I was an engineer working in
R&D in the automotive sector. The
MBA was a classic case of enabling a
career change. I wanted to get off the
engineering track and find a way into
management and business strategy.
I got four main things out of my
MBA: the skills acquired from the
classroom [in finance, accounting,
strategy and so on]; the rubber
stamp of perceived value from
others; a large network of peers and
alumni across a broad spectrum of
industries; and a memorable year
that was not only incredibly fun and
refreshing, but taught me a great
deal about myself. Id hoped to get
the first two, but I was surprised to
find that the second two turned out
to arguably be more valuable.
The MBA was excellent preparation
for what I went on to do afterwards.
It opened the door to the kinds of
opportunities that I was looking to gain
access to and, once in my new roles, I
felt comfortable and well equipped to
deal with the challenges I faced.
An MBA is an investment in time
and money. People considering it
need to ask themselves whether
it will give them access to the
skills/assets they need to take their
career to the next step and make the
investment worthwhile. An MBA will
turn you into more of a generalist, not
a specialist: you need to be sure that
is the direction you want to go in.
OSKAR
HANDRICK
Senior director of consumer strategy
and analysis at Rosetta Stone
14
future ambitions of our participants. Some see
it as making the next step in their organisa-
tion, others as a turning point in their career.
So with the qualication becoming increas-
ingly relevant to students from many indus-
tries, what is it offering them that time served
in the natural course of their careers might not?
Perspective, says Dewettinck. The strength of
an MBA programme is the combination of get-
ting insights across the full spectrum of man-
agement theory, together with development
opportunities that will build the students
competencies and condence to take on more
responsibility within organisations.
Its about nding and lling knowledge
gaps, according to Andrew Mason, founder
and technical director of RandomStorm, an in-
formation security company, who is currently
studying for his MBA at the University of Leeds.
My MBA has
provided real
clarity in my
understanding
of aspects of
business that
my past expe-
riences could
not give me,
he explains.
Ive applied
this knowledge in real world situations, which
has had a positive impact on my business.
An MBA can also give executives the skills
needed to have involvement at operational lev-
el in an increasingly wide and less traditional
range of industries. Jonathan Shalit is CEO of
ROAR Global, a sports, entertainment and mu-
sic management company, and visiting profes-
sor at Henley Business School, which offers a
new MBA for the music industry. He believes
the programme is providing knowledge to an
area that sorely needs it. Music executives
might swiftly climb the ladder based on their
ability to develop talent, but then struggle due
to their lack of knowledge of core business
practices. An MBA can extend the experience
and knowledge of these disciplines and can
strongly assist in bringing authority to all a
creative executive might do, he says.
Despite all the evolution in courses and ap-
proaches to learning, the elephant in the room
is the eye-watering cost of an MBA, which can
run into many tens of thousands of pounds.
Potential students need to approach this with
their eyes open, but there are some encourag-
ing reports in terms of getting a return on the
investment. The latest gures from the Associ-
ation of MBAs (AMBA) show that, globally, the
average graduates salary rose 35 per cent im-
mediately after their MBA, with an average UK
salary rising from 40,350 pre-MBA to 51,000
post-MBA, and to 60,000 within a year.
Employment prospects are positive, ac-
cording to Jane Delbene, director of marketing
at GMAC. Management education graduates
defy dismal employment gures, she says.
Our 2013 Alumni Perspectives Survey report
shows that worldwide, alumni reported the
highest employment rate compared with the
past ve years. And 92 per cent of the class
of 2012 management education graduates
walked straight into a job.
With three out of four of those graduates re-
porting that they couldnt have landed their job
without the skills, knowledge and abilities that
they attained through their graduate manage-
ment degree, it might be tempting to assess the
value of an MBA purely in terms of nancial
return. However, many schools and graduates
highlight the importance of the learning ex-
perience itself, and the personal development
that comes with it, as being equally important.
Our programme is about touching the
brains, hearts and hands of our students, ex-
plains Dewettinck, who believes that studying
overseas can also add value to the MBA. Get-
ting out of your comfort zone, taking some dis-
tance from your family and friends and being
immersed into another culture creates tremen-
dous opportunity for further self-development.
It doesnt take our students too long to see their
new country as a second home.
SOME SEE AN MBA
AS THE NEXT STEP IN
THEIR ORGANISATION,
OTHERS AS A CAREER
TURNING POINT
ALICE MAYNARD IS
CHAIR OF SCOPE &
AN ASHRIDGE MBA
Im a disabled
woman. I asked our
HR director how I
would become UK
MD and she said: You
couldnt. Just like
that! I dont know if
that was because
I was a woman, a
wheelchair user or
just incompetent. So
I went off to prove I
wasnt incompetent!
O
skar Handrick gained an
MBA from Insead in France.
He now works in Tokyo for
Rosetta Stone.
I was an engineer working in
R&D in the automotive sector. The
MBA was a classic case of enabling a
career change. I wanted to get off the
engineering track and find a way into
management and business strategy.
I got four main things out of my
MBA: the skills acquired from the
classroom [in finance, accounting,
strategy and so on]; the rubber
stamp of perceived value from
others; a large network of peers and
alumni across a broad spectrum of
industries; and a memorable year
that was not only incredibly fun and
refreshing, but taught me a great
deal about myself. Id hoped to get
the first two, but I was surprised to
find that the second two turned out
to arguably be more valuable.
The MBA was excellent preparation
for what I went on to do afterwards.
It opened the door to the kinds of
opportunities that I was looking to gain
access to and, once in my new roles, I
felt comfortable and well equipped to
deal with the challenges I faced.
An MBA is an investment in time
and money. People considering it
need to ask themselves whether
it will give them access to the
skills/assets they need to take their
career to the next step and make the
investment worthwhile. An MBA will
turn you into more of a generalist, not
a specialist: you need to be sure that
is the direction you want to go in.
OSKAR
HANDRICK
Senior director of consumer strategy
and analysis at Rosetta Stone
Fun might not be the rst word applied to
graduate management courses, but with its not
surprising that students should nd plenty to en-
joy about living and studying overseas. At Berlins
European School of Management and Technol-
ogy (ESMT) students on the full-time MBA course
hail from 27 different countries: the diversity of
cultural backgrounds enhances the experience
for everyone, according to Nick Barniville, the
schools MBA programme director. If you envis-
age a career which involves interacting with peo-
ple from other cultures, studying abroad is a very
good way to gain the appropriate skills, he says.
In addition, the general experience of living
abroad is something I believe almost everyone
who has had it would recommend.
Students have plenty of development oppor-
tunities beyond the classroom, too. The ESMT
programme includes a two-month consultation
project, that
some students
use to work
for NGOs on
projects de-
signed to effect
social change.
There are also
off-site team
building events
and socials to
help with the time-honoured process of weav-
ing a professional network, and to keep things
fresh club nights and students versus faculty
sports matches. Students can expect an intense,
collaborative experience, says Barniville.
Once the studying (and socialising) is done
many students nd that their graduate manage-
ment qualication helps them advance their
career. GMAC gures show that 81 per cent of
alumni believe their degree provided the im-
petus to move further in their career compared
with peers without a graduate management de-
gree, according to Delbene. Additionally, 63 per
cent state that they received more promotions or
title changes as a result of their degree.
With their newly honed skills in marketing,
nance, management and strategy, it follows
that many MBA-toting candidates will have an
edge, according to John Salt, director at total-
jobs.com. An MBA shows willingness to in-
vest in your career, demonstrating a commit-
ment to improving skills that will be attractive
to employers. It allows you to network with
fellow business people, opening opportunities
for career progression or change of direction.
While the qualication is no guarantee of
employment, it does provide candidates with
both technical and soft skills, such as pre-
senting or leadership, which they may not
have had a chance to develop until now. Its a
chance to re-evaluate, says Salt. Taking time
out from work will give fresh perspective and a
more informed choice on the next job.
However, not everyone is enamoured with the
MBA, and graduates shouldnt see it as a free pass
to the upper echelons. Hin-Yan Wong, head of re-
search, strategy and planning at Connect Adver-
tising and Marketing, cautions that the breadth
of education offered by MBA programmes can
be their weakness. Having completed a PhD in
operational research and taught postgraduates at
the London School of Economics (LSE), its clear
16
STUDENTS GAIN A
GLOBAL PERSPECTIVE,
AND UNDERSTAND THE
DIVERSITY PRESENT
IN THE MBA
that some MBAs do little more
than skim the surface. What they
dont allow for is the time to de-
velop the intellectual discipline
to tackle complex problems, or
grasp how the fundamental as-
pects of a business operate, from
nance to quality systems.
With such opposing views to
MBAs, those who decide its a
good t shouldnt assume they
have a golden ticket that eliminates the need
for great interpersonal skills and commercial
experience they need both. Its all about
a candidates attitude, says Dan Russon,
services director at IT and business change
professional services rm Xceed Group. If a
candidate has the wrong attitude then an MBA
doesnt matter. My advice is: hone interper-
sonal skills and be humble about the MBA.
The right MBA and experience
can be the perfect launchpad for a
satisfying career, however. Helen
Gammons, programme direc-
tor for Henley Business Schools
MBA for the music industry, took
an MBA 14 years ago. Its been
one of the best experiences in my
working life. Its the broad expe-
rience the knowledge gained
from listening to other business
perspectives which is so powerful, she says.
Thats exactly the kind of inspiration Bosak
is looking for. Hes hoping to move into con-
sulting on his return and believes the MBA is
playing a vital part in getting him ready. I feel
much more prepared now after going through
both the core modules and the extracurricular
workshops on soft skills, he says. I feel ready
to start working effectively from day one.
THOSE WHO DECIDE
ON AN MBA SHOULDNT
ASSUME THEY HAVE A
GOLDEN TICKET ITS
ALL ABOUT ATTITUDE
60%
work in organisations
with more than 500
employees
85%
agree that the value
of an MBA improves
over time
45%
of graduates change
business or employer
after graduation
MBA
OUTCOMES
*Source: AMBA Career
Survey, 2013
41%
of MBA graduates
employed in the public
sector are female
67%
of MBA graduates in the
legal profession
are female
35%
of alumni believe
entrepreneurship is the
most vital topic
MBAs BY NUMBERS*
Fun might not be the rst word applied to
graduate management courses, but with its not
surprising that students should nd plenty to en-
joy about living and studying overseas. At Berlins
European School of Management and Technol-
ogy (ESMT) students on the full-time MBA course
hail from 27 different countries: the diversity of
cultural backgrounds enhances the experience
for everyone, according to Nick Barniville, the
schools MBA programme director. If you envis-
age a career which involves interacting with peo-
ple from other cultures, studying abroad is a very
good way to gain the appropriate skills, he says.
In addition, the general experience of living
abroad is something I believe almost everyone
who has had it would recommend.
Students have plenty of development oppor-
tunities beyond the classroom, too. The ESMT
programme includes a two-month consultation
project, that
some students
use to work
for NGOs on
projects de-
signed to effect
social change.
There are also
off-site team
building events
and socials to
help with the time-honoured process of weav-
ing a professional network, and to keep things
fresh club nights and students versus faculty
sports matches. Students can expect an intense,
collaborative experience, says Barniville.
Once the studying (and socialising) is done
many students nd that their graduate manage-
ment qualication helps them advance their
career. GMAC gures show that 81 per cent of
alumni believe their degree provided the im-
petus to move further in their career compared
with peers without a graduate management de-
gree, according to Delbene. Additionally, 63 per
cent state that they received more promotions or
title changes as a result of their degree.
With their newly honed skills in marketing,
nance, management and strategy, it follows
that many MBA-toting candidates will have an
edge, according to John Salt, director at total-
jobs.com. An MBA shows willingness to in-
vest in your career, demonstrating a commit-
ment to improving skills that will be attractive
to employers. It allows you to network with
fellow business people, opening opportunities
for career progression or change of direction.
While the qualication is no guarantee of
employment, it does provide candidates with
both technical and soft skills, such as pre-
senting or leadership, which they may not
have had a chance to develop until now. Its a
chance to re-evaluate, says Salt. Taking time
out from work will give fresh perspective and a
more informed choice on the next job.
However, not everyone is enamoured with the
MBA, and graduates shouldnt see it as a free pass
to the upper echelons. Hin-Yan Wong, head of re-
search, strategy and planning at Connect Adver-
tising and Marketing, cautions that the breadth
of education offered by MBA programmes can
be their weakness. Having completed a PhD in
operational research and taught postgraduates at
the London School of Economics (LSE), its clear
16
STUDENTS GAIN A
GLOBAL PERSPECTIVE,
AND UNDERSTAND THE
DIVERSITY PRESENT
IN THE MBA
that some MBAs do little more
than skim the surface. What they
dont allow for is the time to de-
velop the intellectual discipline
to tackle complex problems, or
grasp how the fundamental as-
pects of a business operate, from
nance to quality systems.
With such opposing views to
MBAs, those who decide its a
good t shouldnt assume they
have a golden ticket that eliminates the need
for great interpersonal skills and commercial
experience they need both. Its all about
a candidates attitude, says Dan Russon,
services director at IT and business change
professional services rm Xceed Group. If a
candidate has the wrong attitude then an MBA
doesnt matter. My advice is: hone interper-
sonal skills and be humble about the MBA.
The right MBA and experience
can be the perfect launchpad for a
satisfying career, however. Helen
Gammons, programme direc-
tor for Henley Business Schools
MBA for the music industry, took
an MBA 14 years ago. Its been
one of the best experiences in my
working life. Its the broad expe-
rience the knowledge gained
from listening to other business
perspectives which is so powerful, she says.
Thats exactly the kind of inspiration Bosak
is looking for. Hes hoping to move into con-
sulting on his return and believes the MBA is
playing a vital part in getting him ready. I feel
much more prepared now after going through
both the core modules and the extracurricular
workshops on soft skills, he says. I feel ready
to start working effectively from day one.
THOSE WHO DECIDE
ON AN MBA SHOULDNT
ASSUME THEY HAVE A
GOLDEN TICKET ITS
ALL ABOUT ATTITUDE
60%
work in organisations
with more than 500
employees
85%
agree that the value
of an MBA improves
over time
45%
of graduates change
business or employer
after graduation
MBA
OUTCOMES
*Source: AMBA Career
Survey, 2013
41%
of MBA graduates
employed in the public
sector are female
67%
of MBA graduates in the
legal profession
are female
35%
of alumni believe
entrepreneurship is the
most vital topic
MBAs BY NUMBERS*
20
I
ts hard to think that a decision as huge as
where to take an MBA might come down
to the quality of the nearby beaches, but
thats exactly what could swing it espe-
cially when business education at the top
schools worldwide is uniformly impres-
sive. I met a bright Kazakh girl whos applying
to business schools in Singapore, mainly to get
some sunshine, and a nancial trader doing
an MBA in Sydney with an exchange semester
in LA. He was denitely scoping out beaches,
says Maria Ahmed, co-founder and editor of
BusinessBecause.com, a website for MBAs.
Nick Barniville, director of MBA pro-
grammes at ESMT, a Berlin business and
management school, says that when rst re-
searching an MBA, candidates tend to look
consistently at three factors: reputation, cost
and location. Its not necessarily what busi-
ness schools would advise. Applicants should
give more thought to the geography in which
theyd like to work, he says. They should also
take an intelligent look at how rankings are put
together. Business schools often bemoan can-
didates who dont pay attention to the meth-
odology behind scores. Newer schools take
time to rise through the line-ups. Some score
well on salary hikes sometimes because their
cohorts are younger and the subsequent rise
in pay is dramatic. Others score worse on sub-
sequent salary, simply because they focus on
less-lucrative industries. Rankings cant tell
you how you would actually be taught, whos
doing the teaching, or the sort of people likely
to be studying alongside you.
From the outside, its difcult to distinguish
between programme offerings, largely because
accrediting bodies such as AMBA require a
core curriculum of strategy, nance, account-
ing, marketing and the like. If you look at
the headlines, all the programmes look the
same, says Graham Clark, academic director
of full-time MBAs at Craneld Universitys
School of Management. International students
might be tempted to consider brand alone,
which might lead them to the obvious destina-
tions of Oxford, Cambridge and
London, and neglect whats on
offer elsewhere in the UK. Only
when you start digging will you
understand whether the course
meets your needs, says Clark.
How then, to look beneath
the headlines? Websites and
MBA fairs give a useful initial
snapshot, while accreditation
body AMBA provides a reliable
mark of quality. In an ideal world, all schools
would like prospective applicants to visit in
person not least because many are very
proud of their premises, some buzzy, some
grand and futuristic, some steeped in history
which play a big part in the MBA experience.
Applicants who visit are more likely to accept
a place. For example, 70 per cent of applicants
to ESMT visit in person. Some schools have a
presence in the worlds capital cities for stu-
dents who cant visit before ap-
plying. London Business School
(LBS) holds events in around
60 cities abroad and maintains
a 32,000-strong alumni com-
munity across more than 130
different countries. Schools
such as Craneld put people in
touch with relevant alumni in
many parts of the world. Open
days, which often give a taste
of academic lectures, practical exercises and
a hint of the meticulous careers services, are
also important places to tap in to the wisdom
of alumni. How easy is it for you to get the in-
formation you need? asks Clark. Is a school
willing to talk to you? Accessibility is key.
TO CHOOSE
Look beyond the obvious factors when
picking an MBA youll be rewarded
how
BY HELENA POZNIAK
ONLY WHEN YOU
START DIGGING WILL
YOU UNDERSTAND
WHETHER THE COURSE
MEETS YOUR NEEDS
20
I
ts hard to think that a decision as huge as
where to take an MBA might come down
to the quality of the nearby beaches, but
thats exactly what could swing it espe-
cially when business education at the top
schools worldwide is uniformly impres-
sive. I met a bright Kazakh girl whos applying
to business schools in Singapore, mainly to get
some sunshine, and a nancial trader doing
an MBA in Sydney with an exchange semester
in LA. He was denitely scoping out beaches,
says Maria Ahmed, co-founder and editor of
BusinessBecause.com, a website for MBAs.
Nick Barniville, director of MBA pro-
grammes at ESMT, a Berlin business and
management school, says that when rst re-
searching an MBA, candidates tend to look
consistently at three factors: reputation, cost
and location. Its not necessarily what busi-
ness schools would advise. Applicants should
give more thought to the geography in which
theyd like to work, he says. They should also
take an intelligent look at how rankings are put
together. Business schools often bemoan can-
didates who dont pay attention to the meth-
odology behind scores. Newer schools take
time to rise through the line-ups. Some score
well on salary hikes sometimes because their
cohorts are younger and the subsequent rise
in pay is dramatic. Others score worse on sub-
sequent salary, simply because they focus on
less-lucrative industries. Rankings cant tell
you how you would actually be taught, whos
doing the teaching, or the sort of people likely
to be studying alongside you.
From the outside, its difcult to distinguish
between programme offerings, largely because
accrediting bodies such as AMBA require a
core curriculum of strategy, nance, account-
ing, marketing and the like. If you look at
the headlines, all the programmes look the
same, says Graham Clark, academic director
of full-time MBAs at Craneld Universitys
School of Management. International students
might be tempted to consider brand alone,
which might lead them to the obvious destina-
tions of Oxford, Cambridge and
London, and neglect whats on
offer elsewhere in the UK. Only
when you start digging will you
understand whether the course
meets your needs, says Clark.
How then, to look beneath
the headlines? Websites and
MBA fairs give a useful initial
snapshot, while accreditation
body AMBA provides a reliable
mark of quality. In an ideal world, all schools
would like prospective applicants to visit in
person not least because many are very
proud of their premises, some buzzy, some
grand and futuristic, some steeped in history
which play a big part in the MBA experience.
Applicants who visit are more likely to accept
a place. For example, 70 per cent of applicants
to ESMT visit in person. Some schools have a
presence in the worlds capital cities for stu-
dents who cant visit before ap-
plying. London Business School
(LBS) holds events in around
60 cities abroad and maintains
a 32,000-strong alumni com-
munity across more than 130
different countries. Schools
such as Craneld put people in
touch with relevant alumni in
many parts of the world. Open
days, which often give a taste
of academic lectures, practical exercises and
a hint of the meticulous careers services, are
also important places to tap in to the wisdom
of alumni. How easy is it for you to get the in-
formation you need? asks Clark. Is a school
willing to talk to you? Accessibility is key.
TO CHOOSE
Look beyond the obvious factors when
picking an MBA youll be rewarded
how
BY HELENA POZNIAK
ONLY WHEN YOU
START DIGGING WILL
YOU UNDERSTAND
WHETHER THE COURSE
MEETS YOUR NEEDS
Institutions such as Henley Business School
are building a working network focusing on
different areas, such as nance or leadership.
Alumni can network with others who share
a passion for different topic areas, says Dr
Richard McBain, who oversees the MBA pro-
grammes at Henley.
Although the actual course content is not
among the top three criteria for students, it
can help narrow down a long list of schools.
Lean years have kept business schools on their
toes and theyre constantly rening their of-
fering, with some specialising in niche mar-
kets. Emlyon Business School offers a focus on
luxury. Warwick and Aberdeen offer a focus
on energy, while other MBAs might specialise
in aviation, healthcare or even space science.
Emlyon is adding four specialisms next year,
including life sciences and new venture man-
agement, and its known for a focus on entre-
preneurship. In fact, more than half of recog-
nised schools have entrepreneurship centres
of some sort. Lancaster University Manage-
ment School, voted business school of the year
in 2012 by the Times Educational Supplement,
houses an Institute for Entrepreneurship and
Enterprise Development, and LBS offers a
popular entrepreneurship summer school.
Its not acceptable just to put out a standard
syllabus, says Oliver Ashby, recruitment and
admissions manager at LBS. Another draw for
students is hands-on experience. Many offer
consultancy projects overseas:
LBS students have declared
their week in Johannesburg
spent assisting small business
as one of the most valuable ex-
periences of the entire MBA.
Brand shouldnt take prece-
dence over personal objectives,
say business schools its more
important to study where you
might meet the right employ-
ers or brush up against the right industry. It
bafes me, the tendency to over-rely on rank-
ings even if a school might not be a good t,
says Barniville. The learning environment is
crucial. You might prefer the social structure
of a smaller programme in a town or smaller
city, or welcome studying at the heart of a glo-
bal business centre. If you intend to study with
partners and children in tow, some schools
take pride in accommodating
families. Oxfords Sad Busi-
ness School and Durham Uni-
versity Business School enjoy
a collegiate system, with fam-
ily-friendly ats available. Dur-
ham, like some other univer-
sity-afliated schools, offers a
pre-school nursery and a line-
up of childrens Christmas par-
ties, barbecues, sports events
and international celebrations.
Asian schools have been enjoying a small
but growing interest from Western students.
These days, business schools in China, Hong
Kong and Singapore are attracting very bright
candidates from Europe and the US, simply
because an MBA in the region is a great way
to shift your career to a booming Asia, where
some salaries are phenomenal and tax free,
says Maria Ahmed. A number of Western
schools have opened campuses abroad and
programme quality worldwide has improved,
says Jane Delbene, director of marketing at
cil (GMAC).
London schools, such as Cass, offer advan-
tages since major employers are more likely
to make milk-round visits in the capitals
schools. Some 19 members of the LBS cohort
last year secured internships and 31 were hired
on graduation by Boston Consulting Group,
10 minutes down the road from campus.
In fact, 92 per cent of LBS graduates found
work in 2012 within three months of leaving
largely among consulting, nance and the
corporate sector (53 per cent went abroad).
German schools, such as ESMT, offer good
links to technology and industry in a relatively
healthy economy. ESMT is lucky to have a
STUDY WHERE
YOU MIGHT MEET THE
RIGHT EMPLOYERS OR
BRUSH UP AGAINST
THE RIGHT INDUSTRY
INFLUENTIAL
RANKINGS
Financial Times
emphasises
alumni salaries
Bloomberg
Businessweek
looks at satisfaction
levels of students
and recruiters
The Economist/
Which MBA? looks
at salaries and new
career openings
Forbes focuses
on the return
on investment
22
DAVID SCOLLON
Won an alumni scholarship to study
at Cranfield School of Management
O
ne of my main criteria
was to get an overseas
MBA Im Australian to
get international exposure, and the
broadness of the course attracted
me. Weve just had a baby, so being
in the UK meant my wife would be
closer to family and friends. A full-
time MBA was important, so I could
immerse myself in it. I didnt want
to study for more than 12 months
as I felt this was the right balance
between study and being away from
work. I looked for a cohort with longer
working experience, as I thought this
would add to the experience. I also
wanted an MBA which emphasised
personal development.
Reputation was important when
I was choosing, and I knew people
spoke highly of Cranfields MBA. I
looked at the quality of the teaching
staff I was after a balance between
academic and direct corporate
experience. I talked to alumni both
when I was choosing an MBA and
then to prepare once Id actually
picked Cranfield. Ive been delighted.
Theyve created a special learning
environment, which counts for a lot
when youre covering so much. Ive
been impressed by the focus on
development of the person as well
as the careers support.
My advice on choosing would be to
visit to get a sense of the atmosphere.
Speak to the current cohort and see
if they resonate with you in terms of
their experience, outlook, maturity and
career circumstances, as this will
be a good indication of whether the
school is the right choice.
Institutions such as Henley Business School
are building a working network focusing on
different areas, such as nance or leadership.
Alumni can network with others who share
a passion for different topic areas, says Dr
Richard McBain, who oversees the MBA pro-
grammes at Henley.
Although the actual course content is not
among the top three criteria for students, it
can help narrow down a long list of schools.
Lean years have kept business schools on their
toes and theyre constantly rening their of-
fering, with some specialising in niche mar-
kets. Emlyon Business School offers a focus on
luxury. Warwick and Aberdeen offer a focus
on energy, while other MBAs might specialise
in aviation, healthcare or even space science.
Emlyon is adding four specialisms next year,
including life sciences and new venture man-
agement, and its known for a focus on entre-
preneurship. In fact, more than half of recog-
nised schools have entrepreneurship centres
of some sort. Lancaster University Manage-
ment School, voted business school of the year
in 2012 by the Times Educational Supplement,
houses an Institute for Entrepreneurship and
Enterprise Development, and LBS offers a
popular entrepreneurship summer school.
Its not acceptable just to put out a standard
syllabus, says Oliver Ashby, recruitment and
admissions manager at LBS. Another draw for
students is hands-on experience. Many offer
consultancy projects overseas:
LBS students have declared
their week in Johannesburg
spent assisting small business
as one of the most valuable ex-
periences of the entire MBA.
Brand shouldnt take prece-
dence over personal objectives,
say business schools its more
important to study where you
might meet the right employ-
ers or brush up against the right industry. It
bafes me, the tendency to over-rely on rank-
ings even if a school might not be a good t,
says Barniville. The learning environment is
crucial. You might prefer the social structure
of a smaller programme in a town or smaller
city, or welcome studying at the heart of a glo-
bal business centre. If you intend to study with
partners and children in tow, some schools
take pride in accommodating
families. Oxfords Sad Busi-
ness School and Durham Uni-
versity Business School enjoy
a collegiate system, with fam-
ily-friendly ats available. Dur-
ham, like some other univer-
sity-afliated schools, offers a
pre-school nursery and a line-
up of childrens Christmas par-
ties, barbecues, sports events
and international celebrations.
Asian schools have been enjoying a small
but growing interest from Western students.
These days, business schools in China, Hong
Kong and Singapore are attracting very bright
candidates from Europe and the US, simply
because an MBA in the region is a great way
to shift your career to a booming Asia, where
some salaries are phenomenal and tax free,
says Maria Ahmed. A number of Western
schools have opened campuses abroad and
programme quality worldwide has improved,
says Jane Delbene, director of marketing at
cil (GMAC).
London schools, such as Cass, offer advan-
tages since major employers are more likely
to make milk-round visits in the capitals
schools. Some 19 members of the LBS cohort
last year secured internships and 31 were hired
on graduation by Boston Consulting Group,
10 minutes down the road from campus.
In fact, 92 per cent of LBS graduates found
work in 2012 within three months of leaving
largely among consulting, nance and the
corporate sector (53 per cent went abroad).
German schools, such as ESMT, offer good
links to technology and industry in a relatively
healthy economy. ESMT is lucky to have a
STUDY WHERE
YOU MIGHT MEET THE
RIGHT EMPLOYERS OR
BRUSH UP AGAINST
THE RIGHT INDUSTRY
INFLUENTIAL
RANKINGS
Financial Times
emphasises
alumni salaries
Bloomberg
Businessweek
looks at satisfaction
levels of students
and recruiters
The Economist/
Which MBA? looks
at salaries and new
career openings
Forbes focuses
on the return
on investment
22
DAVID SCOLLON
Won an alumni scholarship to study
at Cranfield School of Management
O
ne of my main criteria
was to get an overseas
MBA Im Australian to
get international exposure, and the
broadness of the course attracted
me. Weve just had a baby, so being
in the UK meant my wife would be
closer to family and friends. A full-
time MBA was important, so I could
immerse myself in it. I didnt want
to study for more than 12 months
as I felt this was the right balance
between study and being away from
work. I looked for a cohort with longer
working experience, as I thought this
would add to the experience. I also
wanted an MBA which emphasised
personal development.
Reputation was important when
I was choosing, and I knew people
spoke highly of Cranfields MBA. I
looked at the quality of the teaching
staff I was after a balance between
academic and direct corporate
experience. I talked to alumni both
when I was choosing an MBA and
then to prepare once Id actually
picked Cranfield. Ive been delighted.
Theyve created a special learning
environment, which counts for a lot
when youre covering so much. Ive
been impressed by the focus on
development of the person as well
as the careers support.
My advice on choosing would be to
visit to get a sense of the atmosphere.
Speak to the current cohort and see
if they resonate with you in terms of
their experience, outlook, maturity and
career circumstances, as this will
be a good indication of whether the
school is the right choice.
ALUMNI TYPICALLY
RECOUP THE FULL
INVESTMENT MADE IN
AN MBA FOUR YEARS
AFTER GRADUATION
founder core of 25 global companies on which
to draw, says Barniville. The University of St
Gallen in Switzerland has a thriving private
equity club with strong links to the private
equity industry, while Manchester Business
School hosts a strong consulting club. Links
with employers matter more to full-time can-
didates, since executive and part-time cohorts
tend to study alongside their current work.
Likewise, consider the schools mix of stu-
dents. While concepts such as diversity are
bandied around by most institutions, Euro-
pean schools are renowned for creating a truly
cultural mix, whereas the bulk of US classes
remain North American. While around 30 per-
cent or more of US classes are international,
many of the leading UK schools boast an inspir-
ing blend of cultures: LBS, for example, is 91
per cent non-British. Top schools will careful-
ly select can-
didates to nd
students from
a range of cul-
tures and back-
grounds. The
intercultural
experience is
amazing and
the resulting
international
network is a lifetime asset, says Joseph Li-
Puma, associate professor and director of the
international MBA programme at Emlyon,
whose cohort usually has no more than two
participants per country.
Also important is a good t with fellow stu-
dents. Schools certainly dont want a homog-
enous group, but some cohorts tend to differ
in age. London schools tend to be younger. A
lot of applicants want to go out partying, says
Ahmed. Schools denitely popular with party
animals are LBS, Wharton, SDA Bocconi and
Insead lots of ski trips and sailing weekends
as well as the work.
Collaboration between students has made a
huge difference to Rahul Chaudharys studies.
Hes in the second year of LBSs full-time pro-
gramme. We really do help each other out, he
says. And the social side is really important. It
would be a lesser course without all of that.
Overall, students tend to be around 28 years
old on full-time MBAs at European business
schools or in their mid-30s on the part-time
option. Students on accredited courses, such
as Cranelds, average around 31 years and 35
years respectively.
Look closely at the teaching methods, advise
business schools, which are moving towards
more active learning. This is enhanced by ini-
tiatives such as Dragons Den-style pitching
competitions, boardroom simulations and live
projects. Look at how schools facilitate stu-
dents to test their knowledge, advises Clark.
Key questions are: how am I going to learn and
how will you do this? Craneld prides itself
on applied practical opportunities for learn-
ing, closely aligned with business needs, rather
than being purely theoretical. Business schools
also rise and fall by the quality of their faculty.
The University of Cambridges Judge Business
School offers the likes of Mark Thompson, a
former senior advisor to the Chancellor George
Osborne and current director of
Methods Consulting; LBS boasts
Richard Hytner, the deputy
chairman of Saatchi & Saatchi.
Return on investment is an
important consideration, and
the nancial rewards business
alumni reap after earning their
graduate management degrees
remain high. The class of 2012
MBA graduates who participat-
ed in a GMACs survey expected to see an aver-
age salary increase of 71 per cent. Employers
said they expected to pay 27,000 more to MBA
graduates over rst degree graduates. Across
all MBA programme types, alumni typically
recouped the full investment four years after
graduation. But its not just about the money.
Students undertake MBAs for other reasons.
Its vital to assess the cost of what you are fore-
going today in favour of your long-term goals,
says Jane Delbene, who adds that graduates
say an MBA offers career preparation, faster
advancement, increased earnings and prepara-
tion for leadership positions.
Flexible courses, whether studied online or
from a distance, have enjoyed the greatest rise
in popularity, GMAC says, with 66 per cent of
these programmes reporting a rise in appli-
cants last year a sign that MBAs are evolv-
ing to meet needs of business and students.
Since The Open University (OU) pioneered its
rst MBAs in 1989, its triple-rated business de-
gree has grown in popularity. Some 8,000 stu-
dents are currently studying with the OU for
an MBA. Many of our students tell us that we
were their rst choice because
of our reputation, exibility
and distance learning method
of delivery, says Dr Devendra
Kodwani, director of the Mas-
ters programme at the OU Busi-
ness School.
At an overall cost of between
14,000 and 16,000 (inclusive
of study materials and resi-
dential courses), this MBA is
substantially cheaper than top-tier full-time
programmes. LBSs two-year full-time pro-
gramme costs 57,500.
Ultimately, which MBA you choose will be
determined by where you are in your career
now and where it will hopefully take you in
the future. And once youve decided the make
and the hue of your MBA, the very hard work
of actual applications begins.
USEFUL WEBSITES
ambaguide.com
Official AMBA site
Mba50.com
News, advice & events
Findyourmba.com
Rankings and news
BusinessBecause.com
Networking and information
MBAexchange.com
Support services for
MBA applicants
MBA.com
Official GMAT website
MBAscholarships101.com
Comprehensive
guide to scholarships
MBAdepot.com
Online community
THE INTERCULTURAL
EXPERIENCE IS
AMAZING AND THE
RESULTING NETWORK
IS A LIFETIME ASSET
24
ALUMNI TYPICALLY
RECOUP THE FULL
INVESTMENT MADE IN
AN MBA FOUR YEARS
AFTER GRADUATION
founder core of 25 global companies on which
to draw, says Barniville. The University of St
Gallen in Switzerland has a thriving private
equity club with strong links to the private
equity industry, while Manchester Business
School hosts a strong consulting club. Links
with employers matter more to full-time can-
didates, since executive and part-time cohorts
tend to study alongside their current work.
Likewise, consider the schools mix of stu-
dents. While concepts such as diversity are
bandied around by most institutions, Euro-
pean schools are renowned for creating a truly
cultural mix, whereas the bulk of US classes
remain North American. While around 30 per-
cent or more of US classes are international,
many of the leading UK schools boast an inspir-
ing blend of cultures: LBS, for example, is 91
per cent non-British. Top schools will careful-
ly select can-
didates to nd
students from
a range of cul-
tures and back-
grounds. The
intercultural
experience is
amazing and
the resulting
international
network is a lifetime asset, says Joseph Li-
Puma, associate professor and director of the
international MBA programme at Emlyon,
whose cohort usually has no more than two
participants per country.
Also important is a good t with fellow stu-
dents. Schools certainly dont want a homog-
enous group, but some cohorts tend to differ
in age. London schools tend to be younger. A
lot of applicants want to go out partying, says
Ahmed. Schools denitely popular with party
animals are LBS, Wharton, SDA Bocconi and
Insead lots of ski trips and sailing weekends
as well as the work.
Collaboration between students has made a
huge difference to Rahul Chaudharys studies.
Hes in the second year of LBSs full-time pro-
gramme. We really do help each other out, he
says. And the social side is really important. It
would be a lesser course without all of that.
Overall, students tend to be around 28 years
old on full-time MBAs at European business
schools or in their mid-30s on the part-time
option. Students on accredited courses, such
as Cranelds, average around 31 years and 35
years respectively.
Look closely at the teaching methods, advise
business schools, which are moving towards
more active learning. This is enhanced by ini-
tiatives such as Dragons Den-style pitching
competitions, boardroom simulations and live
projects. Look at how schools facilitate stu-
dents to test their knowledge, advises Clark.
Key questions are: how am I going to learn and
how will you do this? Craneld prides itself
on applied practical opportunities for learn-
ing, closely aligned with business needs, rather
than being purely theoretical. Business schools
also rise and fall by the quality of their faculty.
The University of Cambridges Judge Business
School offers the likes of Mark Thompson, a
former senior advisor to the Chancellor George
Osborne and current director of
Methods Consulting; LBS boasts
Richard Hytner, the deputy
chairman of Saatchi & Saatchi.
Return on investment is an
important consideration, and
the nancial rewards business
alumni reap after earning their
graduate management degrees
remain high. The class of 2012
MBA graduates who participat-
ed in a GMACs survey expected to see an aver-
age salary increase of 71 per cent. Employers
said they expected to pay 27,000 more to MBA
graduates over rst degree graduates. Across
all MBA programme types, alumni typically
recouped the full investment four years after
graduation. But its not just about the money.
Students undertake MBAs for other reasons.
Its vital to assess the cost of what you are fore-
going today in favour of your long-term goals,
says Jane Delbene, who adds that graduates
say an MBA offers career preparation, faster
advancement, increased earnings and prepara-
tion for leadership positions.
Flexible courses, whether studied online or
from a distance, have enjoyed the greatest rise
in popularity, GMAC says, with 66 per cent of
these programmes reporting a rise in appli-
cants last year a sign that MBAs are evolv-
ing to meet needs of business and students.
Since The Open University (OU) pioneered its
rst MBAs in 1989, its triple-rated business de-
gree has grown in popularity. Some 8,000 stu-
dents are currently studying with the OU for
an MBA. Many of our students tell us that we
were their rst choice because
of our reputation, exibility
and distance learning method
of delivery, says Dr Devendra
Kodwani, director of the Mas-
ters programme at the OU Busi-
ness School.
At an overall cost of between
14,000 and 16,000 (inclusive
of study materials and resi-
dential courses), this MBA is
substantially cheaper than top-tier full-time
programmes. LBSs two-year full-time pro-
gramme costs 57,500.
Ultimately, which MBA you choose will be
determined by where you are in your career
now and where it will hopefully take you in
the future. And once youve decided the make
and the hue of your MBA, the very hard work
of actual applications begins.
USEFUL WEBSITES
ambaguide.com
Official AMBA site
Mba50.com
News, advice & events
Findyourmba.com
Rankings and news
BusinessBecause.com
Networking and information
MBAexchange.com
Support services for
MBA applicants
MBA.com
Official GMAT website
MBAscholarships101.com
Comprehensive
guide to scholarships
MBAdepot.com
Online community
THE INTERCULTURAL
EXPERIENCE IS
AMAZING AND THE
RESULTING NETWORK
IS A LIFETIME ASSET
24
ABERDEEN BUSINESS SCHOOL
An MBA from Aberdeen Business School is
specically designed to accelerate career
development through a blend
of theory and practice.
This highly valued MBA which is fully
accredited by the Association of MBAs (AMBA)
will provide you with practical skills across
all aspects of management from accounting
and nance to marketing and strategy. We can
help ensure that you develop the recognised
skills and specialist knowledge that you need
to add value to any business.
MBA
MBA Information Management
MBA Oil and Gas Management
To nd out more about an MBA at RGU:
T 01224 262203
E mba@rgu.ac.uk
W www.rgu.ac.uk/mba
OUR MBA WILL
HELP YOU TO
EARN MORE
GLOBAL TOP 50
The Aspen Institute
www.lboro.ac.uk/mba
Competitive Scholarships
worth up to 40% fees available
Go online for our next Open Events.
The Loughborough MBA
Tomorrows Way of Doing Business
The rapidly changing business world needs dynamic, creative decision makers
who can adapt to global challenges and implement innovation.
Full-Time MBA
Full-Time MBA with Internship
Part-Time MBA
International Sports Management MBA
@LoughboroughMBA
Are you ready for
the future?
ABERDEEN BUSINESS SCHOOL
An MBA from Aberdeen Business School is
specically designed to accelerate career
development through a blend
of theory and practice.
This highly valued MBA which is fully
accredited by the Association of MBAs (AMBA)
will provide you with practical skills across
all aspects of management from accounting
and nance to marketing and strategy. We can
help ensure that you develop the recognised
skills and specialist knowledge that you need
to add value to any business.
MBA
MBA Information Management
MBA Oil and Gas Management
To nd out more about an MBA at RGU:
T 01224 262203
E mba@rgu.ac.uk
W www.rgu.ac.uk/mba
OUR MBA WILL
HELP YOU TO
EARN MORE
GLOBAL TOP 50
The Aspen Institute
www.lboro.ac.uk/mba
Competitive Scholarships
worth up to 40% fees available
Go online for our next Open Events.
The Loughborough MBA
Tomorrows Way of Doing Business
The rapidly changing business world needs dynamic, creative decision makers
who can adapt to global challenges and implement innovation.
Full-Time MBA
Full-Time MBA with Internship
Part-Time MBA
International Sports Management MBA
@LoughboroughMBA
Are you ready for
the future?
28
N
ow youve decided to pursue an MBA
and have drawn up a shortlist of
schools that meet your criteria for
an excellent education and experi-
ence, you face the issue of how to ap-
ply. While your decision has probably
been driven by professional and personal cri-
teria, the application process requires thought,
dedication and planning. Candidates must
strike a balance between the emotional drive
and the methodical preparation required.
With more than 3,000 applicants for the 400
places at London Business School, and a selec-
tivity rate of 17 per cent at HEC Paris, securing
a place is no foregone conclusion. For the in-
side story on how to improve your chances, we
asked Fortuna Admissions, a team of former
senior MBA staff drawn from London Busi-
ness School, IE Business School and Insead,
for their advice. Applying can be daunting,
says Lisa Bevill, a former admissions director at
IE Business School, in Madrid. The investment
is signicant, the competition is erce, and the
numbers can look intimidating. Yet Bevill in-
sists there is good news. What really matters
is the quality of the application, no matter how
many others might be applying, she says. The
applications that stand out are those from peo-
ple who have a strong academic background,
have consistently achieved in the workplace,
and can demonstrate a clear understanding of
what theyll gain from their MBA experience.
Their authenticity and self-awareness also make
it clear what they will bring to the programme.
Caroline Diarte Edwards, who ran Inseads
admissions ofce for seven years, says candi-
dates shouldnt think about the competition.
Although we received applications in the thou-
sands, we put together a class one person at a
time. Schools focus on creating well-rounded
classes that reect a diverse pool of talent,
experience, leadership and internationalism.
THE NUMBERS CAN
LOOK INTIMIDATING,
BUT WHAT MATTERS
IS THE QUALITY OF
APPLICATION
The fast-track consultant has a different story
to tell from the army ofcer returning from a
tour of duty, while the nancial analyst will
have a skill set distinct from that of an engi-
neer. Each of them needs to
take the time to capture their
personal stories.
RESEARCH YOUR TARGET MBA DEEPLY
Armed with your shortlist of
schools and the understanding
that each one will be evaluating
applicants as individuals, it is
essential to do your research to
better understand your align-
ment with a particular institution. Philippe
Oster, director of admissions at HEC Paris,
views a top-quality MBA as a transformational
experience, and wants evidence that the pro-
gramme corresponds to the personality of an
individual. Schools want to see the value you
bring to the programme, and that your MBA
aspirations t with your career path. Your ap-
plication should clearly reect this t.
An increasing number of schools involve
the career management centre
in the admissions process to as-
sess each applicants employ-
ability beyond the MBA. So it
is essential that you articulate
a coherent career plan that ts
not only with your background
and skills, but also with the
culture and opportunities the
school provides. For Diarte Ed-
wards, avoiding a difcult job
market is not a good enough reason to head
to business school. If you cannot explain
what you want to do with the degree, you are
not going to impress the school. On the other
hand, compelling and well-argued post-MBA
career goals can really make the difference.
TO APPLY
Getting on to an MBA is far from easy,
but there are ways to improve your odds
how
BY MATT SYMONDS
28
N
ow youve decided to pursue an MBA
and have drawn up a shortlist of
schools that meet your criteria for
an excellent education and experi-
ence, you face the issue of how to ap-
ply. While your decision has probably
been driven by professional and personal cri-
teria, the application process requires thought,
dedication and planning. Candidates must
strike a balance between the emotional drive
and the methodical preparation required.
With more than 3,000 applicants for the 400
places at London Business School, and a selec-
tivity rate of 17 per cent at HEC Paris, securing
a place is no foregone conclusion. For the in-
side story on how to improve your chances, we
asked Fortuna Admissions, a team of former
senior MBA staff drawn from London Busi-
ness School, IE Business School and Insead,
for their advice. Applying can be daunting,
says Lisa Bevill, a former admissions director at
IE Business School, in Madrid. The investment
is signicant, the competition is erce, and the
numbers can look intimidating. Yet Bevill in-
sists there is good news. What really matters
is the quality of the application, no matter how
many others might be applying, she says. The
applications that stand out are those from peo-
ple who have a strong academic background,
have consistently achieved in the workplace,
and can demonstrate a clear understanding of
what theyll gain from their MBA experience.
Their authenticity and self-awareness also make
it clear what they will bring to the programme.
Caroline Diarte Edwards, who ran Inseads
admissions ofce for seven years, says candi-
dates shouldnt think about the competition.
Although we received applications in the thou-
sands, we put together a class one person at a
time. Schools focus on creating well-rounded
classes that reect a diverse pool of talent,
experience, leadership and internationalism.
THE NUMBERS CAN
LOOK INTIMIDATING,
BUT WHAT MATTERS
IS THE QUALITY OF
APPLICATION
The fast-track consultant has a different story
to tell from the army ofcer returning from a
tour of duty, while the nancial analyst will
have a skill set distinct from that of an engi-
neer. Each of them needs to
take the time to capture their
personal stories.
RESEARCH YOUR TARGET MBA DEEPLY
Armed with your shortlist of
schools and the understanding
that each one will be evaluating
applicants as individuals, it is
essential to do your research to
better understand your align-
ment with a particular institution. Philippe
Oster, director of admissions at HEC Paris,
views a top-quality MBA as a transformational
experience, and wants evidence that the pro-
gramme corresponds to the personality of an
individual. Schools want to see the value you
bring to the programme, and that your MBA
aspirations t with your career path. Your ap-
plication should clearly reect this t.
An increasing number of schools involve
the career management centre
in the admissions process to as-
sess each applicants employ-
ability beyond the MBA. So it
is essential that you articulate
a coherent career plan that ts
not only with your background
and skills, but also with the
culture and opportunities the
school provides. For Diarte Ed-
wards, avoiding a difcult job
market is not a good enough reason to head
to business school. If you cannot explain
what you want to do with the degree, you are
not going to impress the school. On the other
hand, compelling and well-argued post-MBA
career goals can really make the difference.
TO APPLY
Getting on to an MBA is far from easy,
but there are ways to improve your odds
how
BY MATT SYMONDS
30
THE APPLICATION
Most business
schools use a
variety of crite-
ria to evaluate
you and your
suitability. It is
important that
every detail is
cared for in
terms of the impression you make. No element
can stand on its own, but rather the require-
ments together provide admissions commit-
tees with a holistic view with which they as-
sess candidates. Its important to consider the
overall balance that you have achieved.
CREATE THE PERFECT CV
The CV is often an overlooked element of the
application, but Bevill sees it as a gatekeeper
that opens the door to the interview. The CV
should be clear and consistent, not cluttered
with information. It needs to cover relevant
professional experience in an easy format,
avoiding jargon or technical terms, so that at
rst glance, admissions ofcers have an under-
standing of your experience and responsibili-
ties. The CV should invite questions to learn
more about the specic experience gained,
rather than requiring clarication.
The CV is a tool that will be used in later
stages of the admissions process, so it should
be genuine and spell out accomplishments
that led to specic results. Numbers help to
quantify your achievements, and there is room
to share your interests outside of work.
INCLUDE AN ACADEMIC TRANSCRIPT
Academic transcripts are a reection of your
past academic performance. An MBA is chal-
lenging, often introducing new concepts with
limited time in a diverse atmosphere, where
you will be challenged to learn and grow. Ad-
missions committees want to ensure you have
the rigour required to complete the programme,
while managing the overall experience.
Often the question arises as to how to
compensate less than stellar undergraduate
performance. Bevill conrms that the last
thing admissions ofcers want to hear is an
excuse for poor academic performance, and
would rather see how you learned from the
experience. Dont waste space in the applica-
tion or during the interview to create excuses.
Instead, highlight strengths in your applica-
tion that will compensate.
PREPARE FOR THE GMAT
The Graduate Management Admissions Test
(GMAT) is a standardised entrance exam used
by business schools to ensure that candidates
have a sufcient comfort level with numbers,
the ability to comprehend material in Eng-
lish, and reason and evaluate arguments. Di-
vided into verbal and quantitative sections,
in addition to an analytical writing section,
the computer-based test will generate a score
from 200 to 800 that can be sent to the institu-
tions you choose. Schools publish the average
GMAT scores of their incoming classes, but it
is worth remembering that an average reects
the scores that were achieved both above and
below that gure, so you might want to re-
search the range of scores that 80 per cent of
the class achieved. Admissions ofcers are
quick to insist that the GMAT is just one ele-
ment in the overall application. A low score
can be difcult to overcome, while a perfect
score is no guarantee of admission, or the
excuse to slack off in other areas. As with ap-
plying to business schools, preparation and
dedication are required to achieve a competi-
tive score. Unlike your undergraduate grades,
this is an element of the application that you
can still inuence, so do set aside time in your
diary for practice, practice, practice.
TELL THE RIGHT STORY IN YOUR ESSAY
Admissions essays are the chance for you
to tell your story, not the one you think the
school wants to hear. Take the time to think
through your strengths and identify weak-
nesses, enlisting the help of a thoughtful
friend, mentor or coach. Make note of your
cultural, academic and professional experi-
ences, and what they say about you. Identify
characteristics that are perhaps not associ-
ated with your profession. If youve had a ca-
reer in banking, the schools will anticipate
that you have analytical skills; they will be
pleased to discover your commitment to a
social cause, or your strong ethical compass,
THE CV SHOULD BE
CLEAR, CONSISTENT
AND NOT CLUTTERED
WITH INFORMATION
OR JARGON
HOW TO IMPRESS IN THE INTERVIEW
W
hile she was senior admissions
manager at London Business
School, Emma Bond, now
of Fortuna Admissions, interviewed
hundreds of MBA hopefuls. Its
important to be proactive in the
interview, she says. You should
prepare five or six key selling points
ahead of time, as well as a dozen
behavioural examples that illustrate the
points you are making.
Bond recommends these relate to your
strengths, personality and soft skills, and
demonstrate how each attribute will
benefit the MBA community, and help you
reach your career goals. Also prepare
examples of your weaknesses, and
describe how you learned from them,
ending on a positive note.
A useful tool to help you frame
responses for tough questions is the
situation, task, action and result (STAR)
method. Set the scene, say what you
needed to do, what you actually did, and
the skills you used, then finish with the
outcomes or achievements.
You should also be able to talk without
hesitation about why you are choosing
an MBA, why this business school,
what you want to learn, and how you
will contribute. Bond counsels not to
voluntarily bring up topics you dont
want to talk about, but says you should
expect to be quizzed on anything.
Finally, remember you may be asked
about something your interviewer
finds intriguing in your application, for
example, setting up a company during
college, or an unusual hobby. Questions
like that can be an opportunity for the
interviewer to educate him or herself
just remember to insert your key
points when it becomes appropriate.
30
THE APPLICATION
Most business
schools use a
variety of crite-
ria to evaluate
you and your
suitability. It is
important that
every detail is
cared for in
terms of the impression you make. No element
can stand on its own, but rather the require-
ments together provide admissions commit-
tees with a holistic view with which they as-
sess candidates. Its important to consider the
overall balance that you have achieved.
CREATE THE PERFECT CV
The CV is often an overlooked element of the
application, but Bevill sees it as a gatekeeper
that opens the door to the interview. The CV
should be clear and consistent, not cluttered
with information. It needs to cover relevant
professional experience in an easy format,
avoiding jargon or technical terms, so that at
rst glance, admissions ofcers have an under-
standing of your experience and responsibili-
ties. The CV should invite questions to learn
more about the specic experience gained,
rather than requiring clarication.
The CV is a tool that will be used in later
stages of the admissions process, so it should
be genuine and spell out accomplishments
that led to specic results. Numbers help to
quantify your achievements, and there is room
to share your interests outside of work.
INCLUDE AN ACADEMIC TRANSCRIPT
Academic transcripts are a reection of your
past academic performance. An MBA is chal-
lenging, often introducing new concepts with
limited time in a diverse atmosphere, where
you will be challenged to learn and grow. Ad-
missions committees want to ensure you have
the rigour required to complete the programme,
while managing the overall experience.
Often the question arises as to how to
compensate less than stellar undergraduate
performance. Bevill conrms that the last
thing admissions ofcers want to hear is an
excuse for poor academic performance, and
would rather see how you learned from the
experience. Dont waste space in the applica-
tion or during the interview to create excuses.
Instead, highlight strengths in your applica-
tion that will compensate.
PREPARE FOR THE GMAT
The Graduate Management Admissions Test
(GMAT) is a standardised entrance exam used
by business schools to ensure that candidates
have a sufcient comfort level with numbers,
the ability to comprehend material in Eng-
lish, and reason and evaluate arguments. Di-
vided into verbal and quantitative sections,
in addition to an analytical writing section,
the computer-based test will generate a score
from 200 to 800 that can be sent to the institu-
tions you choose. Schools publish the average
GMAT scores of their incoming classes, but it
is worth remembering that an average reects
the scores that were achieved both above and
below that gure, so you might want to re-
search the range of scores that 80 per cent of
the class achieved. Admissions ofcers are
quick to insist that the GMAT is just one ele-
ment in the overall application. A low score
can be difcult to overcome, while a perfect
score is no guarantee of admission, or the
excuse to slack off in other areas. As with ap-
plying to business schools, preparation and
dedication are required to achieve a competi-
tive score. Unlike your undergraduate grades,
this is an element of the application that you
can still inuence, so do set aside time in your
diary for practice, practice, practice.
TELL THE RIGHT STORY IN YOUR ESSAY
Admissions essays are the chance for you
to tell your story, not the one you think the
school wants to hear. Take the time to think
through your strengths and identify weak-
nesses, enlisting the help of a thoughtful
friend, mentor or coach. Make note of your
cultural, academic and professional experi-
ences, and what they say about you. Identify
characteristics that are perhaps not associ-
ated with your profession. If youve had a ca-
reer in banking, the schools will anticipate
that you have analytical skills; they will be
pleased to discover your commitment to a
social cause, or your strong ethical compass,
THE CV SHOULD BE
CLEAR, CONSISTENT
AND NOT CLUTTERED
WITH INFORMATION
OR JARGON
HOW TO IMPRESS IN THE INTERVIEW
W
hile she was senior admissions
manager at London Business
School, Emma Bond, now
of Fortuna Admissions, interviewed
hundreds of MBA hopefuls. Its
important to be proactive in the
interview, she says. You should
prepare five or six key selling points
ahead of time, as well as a dozen
behavioural examples that illustrate the
points you are making.
Bond recommends these relate to your
strengths, personality and soft skills, and
demonstrate how each attribute will
benefit the MBA community, and help you
reach your career goals. Also prepare
examples of your weaknesses, and
describe how you learned from them,
ending on a positive note.
A useful tool to help you frame
responses for tough questions is the
situation, task, action and result (STAR)
method. Set the scene, say what you
needed to do, what you actually did, and
the skills you used, then finish with the
outcomes or achievements.
You should also be able to talk without
hesitation about why you are choosing
an MBA, why this business school,
what you want to learn, and how you
will contribute. Bond counsels not to
voluntarily bring up topics you dont
want to talk about, but says you should
expect to be quizzed on anything.
Finally, remember you may be asked
about something your interviewer
finds intriguing in your application, for
example, setting up a company during
college, or an unusual hobby. Questions
like that can be an opportunity for the
interviewer to educate him or herself
just remember to insert your key
points when it becomes appropriate.
as described by your recommender. Be spe-
cific. Telling of a situation where you took
a successful initiative, identified a business
opportunity or made a difference is more
powerful than simply stating, People say
Im creative or I like to get the job done.
You cant overrate the importance of self-
awareness. Conveying what youve done,
where youre headed and what you can bring
to the MBA will distinguish you from other
high achievers.
THE LETTER OF RECOMMENDATION
Letters of recommendation provide insights
from an external, objective vantage point. For
Emma Bond, former senior admissions man-
ager at the London Business School, letters
should highlight strengths and areas for im-
provement, and be written by individuals who
know you and can attest to your abilities, ex-
perience and professionalism. This typically
means your supervisor, though if you arent
ready to tell your company, you might want
to identify a client or supplier with whom you
have had a close working relationship.
The careful selection of your recommender
also implies their level of support and belief
in you. A half-hearted letter, or critical as-
sessment can be hard to overcome. Celebrity
endorsements or a vague letter from a manag-
ing director should be avoided. Admissions of-
cers see thousands of letters, so aim for the
right balance of critique, posi-
tive feedback and authenticity.
If the recommender suggests
you write your own letter that
they will sign, this defeats the
purpose of the criteria. So give
the recommender plenty of
time, perhaps taking them to
lunch to explain your project
and reminding them of certain
characteristics or achievements
that they might refer to, and then follow up in
the following weeks to make sure they meet
the school deadline.
ACE THE INTERVIEW
Interviews are offered to applicants who catch
the attention of the admissions ofce. Its your
chance to make a lasting impression, and prep-
aration is key. Having done your research,
and prepared answers about
your experience, past decisions
and aspirations, the interview
is the chance to demonstrate
your t with the school, says
Bevill. The interview is not only
about what you say, but also
how you respond. Authentic-
ity is essential. Interviewers
have a keen sense for off-the-
shelf answers, and may delve
in to more complicated questions to see your
ability to respond. Be yourself, be professional
and be prepared.
TIME YOUR APPLICATION
When you apply to business school can play
an important role. Most schools organise
rounds of applications, typically in October,
January, March and in some cases even
32
THE INTERVIEW IS
YOUR OPPORTUNITY TO
MAKE AN IMPRESSION
AND VALIDATE YOUR
APPLICATION
later for a September class start. At each of
these deadlines, they gather together the
interesting les and decide whether candi-
dates are accepted, denied or put on a wait-
ing list. Incomplete applications will not be
considered, so make sure that both you and
your recommenders have provided everything
the schools need.
So which deadline should you aim for?
Because the quality of your application is
paramount, you might do well to postpone
meeting a deadline if that means improved
GMAT preparation and providing thought-
ful essays. Otherwise, apply early. For Diarte
Edwards, the explanation is with the numbers.
A top school such as Insead may receive more
than 4,000 applications over the course of
an admissions cycle. For the rst round
deadline, all the places are typically avail-
able, with the exception of a small number of
deferred enrollments. As the admissions com-
mittee starts to offer admission to the best
candidates from the rst round, the places ll.
By the time of round two, as many as half of
the places may be allocated. Continue to the
third round deadline, and though an impres-
sive candidate may still gain admission at this
stage, they are competing for one of only a
handful of places still remaining.
TAKE CONTROL
Perhaps a nal word of encouragement should
be this: more of the admissions process than
you might ever imagine is within your con-
trol. With a clear plan, a committed prepara-
tion schedule, and the help of friends and
advisors, you can make a lasting impact on the
quality of your application. Your efforts will
hopefully be rewarded with a place in the busi-
ness school of your dreams.
EXTRAORDINARY
ESSAYS
M
ost MBA application
essays ask you to
explain why you
want to go to this business
school, to describe your
post-MBA career goals,
your accomplishments,
and failures, or discuss an
ethical dilemma you might
have faced. But a few
schools are experimenting
with other questions, or
even different formats.
Imperial College asks
applicants to prepare a
video to persuade us to
consider you for an offer of
a place on the Imperial MBA.
IE Business School gives
applicants the option to
respond to questions
in poetry, photography,
drawing, video, animation
or presentation. That
might help if you choose to
answer the question How
do you envision the city
of the future?, or If you
had the opportunity, what
actions would you demand
of the UN Secretary
General and why?.
And for written essays
to capture all dimensions
of candidates, the
Rotterdam School of
Management includes
Describe your favourite
hobby, pastime or sport
and explain how it reflects
your personality.
Assessing your hopes
and dreams, HEC Paris asks
applicants to imagine a
life entirely different from
the one you now lead.
What would it be?.
as described by your recommender. Be spe-
cific. Telling of a situation where you took
a successful initiative, identified a business
opportunity or made a difference is more
powerful than simply stating, People say
Im creative or I like to get the job done.
You cant overrate the importance of self-
awareness. Conveying what youve done,
where youre headed and what you can bring
to the MBA will distinguish you from other
high achievers.
THE LETTER OF RECOMMENDATION
Letters of recommendation provide insights
from an external, objective vantage point. For
Emma Bond, former senior admissions man-
ager at the London Business School, letters
should highlight strengths and areas for im-
provement, and be written by individuals who
know you and can attest to your abilities, ex-
perience and professionalism. This typically
means your supervisor, though if you arent
ready to tell your company, you might want
to identify a client or supplier with whom you
have had a close working relationship.
The careful selection of your recommender
also implies their level of support and belief
in you. A half-hearted letter, or critical as-
sessment can be hard to overcome. Celebrity
endorsements or a vague letter from a manag-
ing director should be avoided. Admissions of-
cers see thousands of letters, so aim for the
right balance of critique, posi-
tive feedback and authenticity.
If the recommender suggests
you write your own letter that
they will sign, this defeats the
purpose of the criteria. So give
the recommender plenty of
time, perhaps taking them to
lunch to explain your project
and reminding them of certain
characteristics or achievements
that they might refer to, and then follow up in
the following weeks to make sure they meet
the school deadline.
ACE THE INTERVIEW
Interviews are offered to applicants who catch
the attention of the admissions ofce. Its your
chance to make a lasting impression, and prep-
aration is key. Having done your research,
and prepared answers about
your experience, past decisions
and aspirations, the interview
is the chance to demonstrate
your t with the school, says
Bevill. The interview is not only
about what you say, but also
how you respond. Authentic-
ity is essential. Interviewers
have a keen sense for off-the-
shelf answers, and may delve
in to more complicated questions to see your
ability to respond. Be yourself, be professional
and be prepared.
TIME YOUR APPLICATION
When you apply to business school can play
an important role. Most schools organise
rounds of applications, typically in October,
January, March and in some cases even
32
THE INTERVIEW IS
YOUR OPPORTUNITY TO
MAKE AN IMPRESSION
AND VALIDATE YOUR
APPLICATION
later for a September class start. At each of
these deadlines, they gather together the
interesting les and decide whether candi-
dates are accepted, denied or put on a wait-
ing list. Incomplete applications will not be
considered, so make sure that both you and
your recommenders have provided everything
the schools need.
So which deadline should you aim for?
Because the quality of your application is
paramount, you might do well to postpone
meeting a deadline if that means improved
GMAT preparation and providing thought-
ful essays. Otherwise, apply early. For Diarte
Edwards, the explanation is with the numbers.
A top school such as Insead may receive more
than 4,000 applications over the course of
an admissions cycle. For the rst round
deadline, all the places are typically avail-
able, with the exception of a small number of
deferred enrollments. As the admissions com-
mittee starts to offer admission to the best
candidates from the rst round, the places ll.
By the time of round two, as many as half of
the places may be allocated. Continue to the
third round deadline, and though an impres-
sive candidate may still gain admission at this
stage, they are competing for one of only a
handful of places still remaining.
TAKE CONTROL
Perhaps a nal word of encouragement should
be this: more of the admissions process than
you might ever imagine is within your con-
trol. With a clear plan, a committed prepara-
tion schedule, and the help of friends and
advisors, you can make a lasting impact on the
quality of your application. Your efforts will
hopefully be rewarded with a place in the busi-
ness school of your dreams.
EXTRAORDINARY
ESSAYS
M
ost MBA application
essays ask you to
explain why you
want to go to this business
school, to describe your
post-MBA career goals,
your accomplishments,
and failures, or discuss an
ethical dilemma you might
have faced. But a few
schools are experimenting
with other questions, or
even different formats.
Imperial College asks
applicants to prepare a
video to persuade us to
consider you for an offer of
a place on the Imperial MBA.
IE Business School gives
applicants the option to
respond to questions
in poetry, photography,
drawing, video, animation
or presentation. That
might help if you choose to
answer the question How
do you envision the city
of the future?, or If you
had the opportunity, what
actions would you demand
of the UN Secretary
General and why?.
And for written essays
to capture all dimensions
of candidates, the
Rotterdam School of
Management includes
Describe your favourite
hobby, pastime or sport
and explain how it reflects
your personality.
Assessing your hopes
and dreams, HEC Paris asks
applicants to imagine a
life entirely different from
the one you now lead.
What would it be?.
The Nottingham MBA
UK China Singapore
Master the
new language
of business
E-mail: mba@nottingham.ac.uk
Tel:
+
44 (0) 115 951 5500
www.nottingham.ac.uk/business
Advance your career options with Nottingham University Business Schools MBA.
Unique international opportunities through our overseas campuses.

Recognised as the leading UK business school
for research and teaching on sustainability.
Scholarships available.
Specialists in developing entrepreneurial, responsible global managers.
NUBS.210x148.indd 1 14/3/13 17:21:40
The Nottingham MBA
UK China Singapore
Master the
new language
of business
E-mail: mba@nottingham.ac.uk
Tel:
+
44 (0) 115 951 5500
www.nottingham.ac.uk/business
Advance your career options with Nottingham University Business Schools MBA.
Unique international opportunities through our overseas campuses.

Recognised as the leading UK business school
for research and teaching on sustainability.
Scholarships available.
Specialists in developing entrepreneurial, responsible global managers.
NUBS.210x148.indd 1 14/3/13 17:21:40
36
D
o you dream of doing an MBA but
feel put off by the cost? Fees for in-
stitutions, such as London Busi-
ness School (LBS), can be as much
as 61,400 plus living expenses. The
sums of money required to follow
your dream may seem daunting, but dont be
discouraged. There are thousands of scholar-
ships and other nancing options for MBA
studies, and if youre prepared to put in the re-
search you should be able to nd funding that
will t your circumstances.
You wont be alone in seeking support. With
increasing fee costs and the current economic
climate, its a highly competitive area. A re-
cent Association of MBAs (AMBA) survey of
graduates found that 9 per cent of respond-
ents secured a scholarship, 10 per cent used a
bank loan and 30 per cent were sponsored by
companies although half of all respondents
funded the degree themselves. The ways in
which students fund MBAs varies around the
world. According to Jane Delbene, director of
marketing for the Graduate Management Ad-
mission Council (GMAC), students from Latin
America look for grants, while those based in
Central Asia rely on loans. Women worldwide
are generally more likely to rely on co-inves-
tors parents or spouses rather than using
personal earnings, she says.
Schools are keen to recruit top talent regard-
less of their nancial ability to pay. Those charg-
ing the highest fees often offer the most attrac-
tive scholarships. For example, LBS has around
30. So dont hesitate to aim for the top, even if
the fees appear to be out of your league. LBS of-
fers scholarship for groups including women,
the military, and nationals from Russia, China,
Israel and Sub-saharan Africa. The school says
it seeks classes with diverse experiences and
uses scholarships to identify the most outstand-
ing talent, so they can learn from one another.
AIM FOR THE TOP,
EVEN IF THE FEES SEEM
IMPOSSIBLE. SCHOOLS
ARE KEEN TO RECRUIT
THE TOP TALENT
SCHOLARSHIPS
This is a popular funding option since it doesnt
tie you in to nancial obligations after gradua-
tion. There are three key kinds of scholarship:
needs-based, merit-based and
a combination. There are also
a number of scholarships based
on specic criteria. By research-
ing these awards, which relate
to your special circumstances,
such as nationality, geographi-
cal region or experience, you
will be competing against a
smaller number of applicants.
LOANS
Bank loans are more difcult to obtain than in
the past, and current interest rates make them
less attractive. However spending money on
an MBA is seen as a long-term investment if
you take into account the potential increase
in earning power that it brings. Talk to your
chosen business school rst about a loan, as
they may have special access to loans for MBA
students or even act as guarantor for a private
loan. After all, no school wants
its students to be distracted by
nancial worries.
SPONSORSHIP
The days are gone when em-
ployers were keen to provide
sponsorship for their high-i-
ers to do an MBA to bring new
skills into the organisation.
But its still worth considering
an approach. You must present a strong case
demonstrating the benets to the company.
As well as enhancing your skills, theres often
an opportunity to use your own company for
a project, so in effect it will receive free man-
agement consultancy. Check whether you will
FI NANCI NG
Dont be discouraged by the hefty price tag
there are many ways to pay for an MBA
mba
BY WIDGET FINN
36
D
o you dream of doing an MBA but
feel put off by the cost? Fees for in-
stitutions, such as London Busi-
ness School (LBS), can be as much
as 61,400 plus living expenses. The
sums of money required to follow
your dream may seem daunting, but dont be
discouraged. There are thousands of scholar-
ships and other nancing options for MBA
studies, and if youre prepared to put in the re-
search you should be able to nd funding that
will t your circumstances.
You wont be alone in seeking support. With
increasing fee costs and the current economic
climate, its a highly competitive area. A re-
cent Association of MBAs (AMBA) survey of
graduates found that 9 per cent of respond-
ents secured a scholarship, 10 per cent used a
bank loan and 30 per cent were sponsored by
companies although half of all respondents
funded the degree themselves. The ways in
which students fund MBAs varies around the
world. According to Jane Delbene, director of
marketing for the Graduate Management Ad-
mission Council (GMAC), students from Latin
America look for grants, while those based in
Central Asia rely on loans. Women worldwide
are generally more likely to rely on co-inves-
tors parents or spouses rather than using
personal earnings, she says.
Schools are keen to recruit top talent regard-
less of their nancial ability to pay. Those charg-
ing the highest fees often offer the most attrac-
tive scholarships. For example, LBS has around
30. So dont hesitate to aim for the top, even if
the fees appear to be out of your league. LBS of-
fers scholarship for groups including women,
the military, and nationals from Russia, China,
Israel and Sub-saharan Africa. The school says
it seeks classes with diverse experiences and
uses scholarships to identify the most outstand-
ing talent, so they can learn from one another.
AIM FOR THE TOP,
EVEN IF THE FEES SEEM
IMPOSSIBLE. SCHOOLS
ARE KEEN TO RECRUIT
THE TOP TALENT
SCHOLARSHIPS
This is a popular funding option since it doesnt
tie you in to nancial obligations after gradua-
tion. There are three key kinds of scholarship:
needs-based, merit-based and
a combination. There are also
a number of scholarships based
on specic criteria. By research-
ing these awards, which relate
to your special circumstances,
such as nationality, geographi-
cal region or experience, you
will be competing against a
smaller number of applicants.
LOANS
Bank loans are more difcult to obtain than in
the past, and current interest rates make them
less attractive. However spending money on
an MBA is seen as a long-term investment if
you take into account the potential increase
in earning power that it brings. Talk to your
chosen business school rst about a loan, as
they may have special access to loans for MBA
students or even act as guarantor for a private
loan. After all, no school wants
its students to be distracted by
nancial worries.
SPONSORSHIP
The days are gone when em-
ployers were keen to provide
sponsorship for their high-i-
ers to do an MBA to bring new
skills into the organisation.
But its still worth considering
an approach. You must present a strong case
demonstrating the benets to the company.
As well as enhancing your skills, theres often
an opportunity to use your own company for
a project, so in effect it will receive free man-
agement consultancy. Check whether you will
FI NANCI NG
Dont be discouraged by the hefty price tag
there are many ways to pay for an MBA
mba
BY WIDGET FINN
have to sign an agreement to stay with your
employer for a period after graduation, though
with the current job market this could be an at-
tractive prospect.
RESEARCH AVAILABLE SCHOLARSHIPS
You need to know about whats new and
whats available in MBA scholarships, so make
the best use of new technology to stay up to
date. Subscribe to Google Alerts for the key-
words MBA scholarships and follow its news
section. Visit your chosen business schools
scholarship page to see whats on offer. Use
Twitter to nd out the buzz. Amber Davis
won a full tuition scholarship worth $36,400
(24,300) offered by a US business school for
her response to the question What makes a
successful MBA applicant and future MBA?
Her prize-winning tweet? Experienced pro-
fessional with advanced soft skills seeks MBA
for success in marketing. If youre a perfect t,
meet me @ bit.ly/w9UURS
Visit MBA fairs, clubs and networks that
offer scholarships. In 2012, QS Top MBA pro-
vided 1.2m in scholarships exclusively for
students attendeding the QS World MBA Tour.
The Beat the GMAT social network offers an
annual scholarship for its members. Subscribe
to MBAscholarships101.com to be updated
whenever an MBA scholarship has opened.
Talk to admissions ofcers and schools to ask
about what opportunities are available.
You can increase your chanc-
es of winning a scholarship by
looking for targeted awards
and searching for categories
that apply only to you. The
criteria for these will need you
to be able to demonstrate spe-
cic academic, leadership and
professional achievement. For
example, HEC Paris offers the
Foundation Rainbow Bridge
Scholarship, worth 20,000, to women from
Asian or African countries that have been af-
fected by natural disasters, drought or famine.
It was set up in memory of HECs Muriel Dar-
gent and her family who died during the 26 De-
cember 2004 tsunami. Candidates must dem-
onstrate a commitment to solving social and
economic issues affecting their country. The
current holder is Gayathri Sankaranarayanan
from India who spent ve years
in the oil and gas industry in
Singapore. I was in India when
it was hit by the tsunami and
worked with non-governmen-
tal organisations (NGOs) re-
building houses that had been
destroyed, she explains. I
hope that the MBA will help me
become nancially able to con-
tribute to those organisations
and enable me to work with the education of
girls in India.
The average percentage of women under-
taking MBAs has been stuck at around 30 per
cent for the past decade, so business schools
are keen to increase the number of appli-
cants. Many schools have introduced schol-
arship programmes exclusively for women.
For example, both LBS and Insead offer ve
womens scholarships, and Cass Business
School has four. The Fort Foundation is also
at the forefront of supporting women taking
up MBAs, and sponsors an extensive MBA
scholarship programme. Other scholarships
include those for students from developing
countries, from a particular country, for entre-
preneurs and members of the armed forces.
HOW TO APPLY
You should tackle making an application care-
fully: after all, your future career may depend
on whether you are successful in getting the
nances to pay for your programme. There are
two essentials to your application, says Pro-
fessor Amir Sharif, assistant head of Brunel
Business School. Ensure you dont miss the
deadline, and that you are eligible, he says,
emphasising the importance of researching
MBA funding from your target business school
INCREASE YOUR
CHANCES OF WINNING
A SCHOLARSHIP
BY LOOKING FOR
TARGETED AWARDS
WHERE TO
FIND FUNDING
Subscribe to
Google Alerts for
the keywords
MBA scholarships.
See whats on offer
on your chosen
business schools
scholarship page.
Use Twitter to follow
the buzz about MBA
scholarships.
Visit MBA fairs, clubs
and networks that
offer scholarships
I
In 1991, Sarah de Carvalho gave
up her job in television production
to spend a year working in Brazil
helping destitute children. She was
so shocked by their conditions
that she founded Happy Child
International. The charity now helps
more than 1,000 children a year
and has trained more than 500
international student volunteers.
Happy Child has 70 staff in Brazil
and is run from a small office in the
UK. When De Carvalho was invited to
do a presentation about the charity
to MBA students at Surrey Business
School, she was inspired.
I thought it would be fantastic for
my management skills to do an MBA,
but working for a charity meant there
was no money available. Then she
heard about the business schools
full-fee scholarship worth 20,000
offered in partnership with a local
newspaper, which she applied for,
and won. Studying is a dream come
true for me, and has already had
an impact on my organisation, she
says. Im putting into practice things
Ive learnt about HR management,
organisational culture and
performance management. Even my
staff have noticed the difference.
She argues that the scholarship
is an excellent investment for
the business school and the
newspaper. Not only am I and my
staff benefitting but by improving
the management of the organisation
the children we help, their families
and communities are also getting a
better service.
38
SARAH DE
CARVALHO
Founder and chief executive of
Happy Child International
have to sign an agreement to stay with your
employer for a period after graduation, though
with the current job market this could be an at-
tractive prospect.
RESEARCH AVAILABLE SCHOLARSHIPS
You need to know about whats new and
whats available in MBA scholarships, so make
the best use of new technology to stay up to
date. Subscribe to Google Alerts for the key-
words MBA scholarships and follow its news
section. Visit your chosen business schools
scholarship page to see whats on offer. Use
Twitter to nd out the buzz. Amber Davis
won a full tuition scholarship worth $36,400
(24,300) offered by a US business school for
her response to the question What makes a
successful MBA applicant and future MBA?
Her prize-winning tweet? Experienced pro-
fessional with advanced soft skills seeks MBA
for success in marketing. If youre a perfect t,
meet me @ bit.ly/w9UURS
Visit MBA fairs, clubs and networks that
offer scholarships. In 2012, QS Top MBA pro-
vided 1.2m in scholarships exclusively for
students attendeding the QS World MBA Tour.
The Beat the GMAT social network offers an
annual scholarship for its members. Subscribe
to MBAscholarships101.com to be updated
whenever an MBA scholarship has opened.
Talk to admissions ofcers and schools to ask
about what opportunities are available.
You can increase your chanc-
es of winning a scholarship by
looking for targeted awards
and searching for categories
that apply only to you. The
criteria for these will need you
to be able to demonstrate spe-
cic academic, leadership and
professional achievement. For
example, HEC Paris offers the
Foundation Rainbow Bridge
Scholarship, worth 20,000, to women from
Asian or African countries that have been af-
fected by natural disasters, drought or famine.
It was set up in memory of HECs Muriel Dar-
gent and her family who died during the 26 De-
cember 2004 tsunami. Candidates must dem-
onstrate a commitment to solving social and
economic issues affecting their country. The
current holder is Gayathri Sankaranarayanan
from India who spent ve years
in the oil and gas industry in
Singapore. I was in India when
it was hit by the tsunami and
worked with non-governmen-
tal organisations (NGOs) re-
building houses that had been
destroyed, she explains. I
hope that the MBA will help me
become nancially able to con-
tribute to those organisations
and enable me to work with the education of
girls in India.
The average percentage of women under-
taking MBAs has been stuck at around 30 per
cent for the past decade, so business schools
are keen to increase the number of appli-
cants. Many schools have introduced schol-
arship programmes exclusively for women.
For example, both LBS and Insead offer ve
womens scholarships, and Cass Business
School has four. The Fort Foundation is also
at the forefront of supporting women taking
up MBAs, and sponsors an extensive MBA
scholarship programme. Other scholarships
include those for students from developing
countries, from a particular country, for entre-
preneurs and members of the armed forces.
HOW TO APPLY
You should tackle making an application care-
fully: after all, your future career may depend
on whether you are successful in getting the
nances to pay for your programme. There are
two essentials to your application, says Pro-
fessor Amir Sharif, assistant head of Brunel
Business School. Ensure you dont miss the
deadline, and that you are eligible, he says,
emphasising the importance of researching
MBA funding from your target business school
INCREASE YOUR
CHANCES OF WINNING
A SCHOLARSHIP
BY LOOKING FOR
TARGETED AWARDS
WHERE TO
FIND FUNDING
Subscribe to
Google Alerts for
the keywords
MBA scholarships.
See whats on offer
on your chosen
business schools
scholarship page.
Use Twitter to follow
the buzz about MBA
scholarships.
Visit MBA fairs, clubs
and networks that
offer scholarships
I
In 1991, Sarah de Carvalho gave
up her job in television production
to spend a year working in Brazil
helping destitute children. She was
so shocked by their conditions
that she founded Happy Child
International. The charity now helps
more than 1,000 children a year
and has trained more than 500
international student volunteers.
Happy Child has 70 staff in Brazil
and is run from a small office in the
UK. When De Carvalho was invited to
do a presentation about the charity
to MBA students at Surrey Business
School, she was inspired.
I thought it would be fantastic for
my management skills to do an MBA,
but working for a charity meant there
was no money available. Then she
heard about the business schools
full-fee scholarship worth 20,000
offered in partnership with a local
newspaper, which she applied for,
and won. Studying is a dream come
true for me, and has already had
an impact on my organisation, she
says. Im putting into practice things
Ive learnt about HR management,
organisational culture and
performance management. Even my
staff have noticed the difference.
She argues that the scholarship
is an excellent investment for
the business school and the
newspaper. Not only am I and my
staff benefitting but by improving
the management of the organisation
the children we help, their families
and communities are also getting a
better service.
38
SARAH DE
CARVALHO
Founder and chief executive of
Happy Child International
40
ahead of time. The key is to read the require-
ments and present a compelling case. Some
students think a lacklustre approach will suf-
ce and theyll automatically get money. On
the contrary applicants must present their
business case in terms of facts, ability, rel-
evance, context and capability, which should
be linked to the funding on offer.
If you are
applying for a
needs- based
schol arshi p,
you should be
prepared to set
out your nan-
cial situation
coherently and
make a com-
pelling case for
the benets that an MBA will bring. Oladapo
Ogunoye, a nancial analyst from Nigeria,
was awarded a full scholarship from Salford
Business School worth 16,000. Without it,
studying for an MBA would have been impos-
sible. He argues that the solution to poverty
in Nigeria is strong, ethical leadership. In his
submission for a scholarship, he claims: An
MBA will equip me with practical approaches
to solve the poverty problems in the country
Im really so proud of.
Merit-based scholarships are competi-
tive, so your application must hit the mark.
A high GMAT score will help, says Chris
Saunders, director of full-time MBA pro-
grammes at Lancaster University Manage-
ment School, but he also looks for practical ex-
amples of leadership skills. Im not interested
in general statements. I want examples of
an ability to lead at school, in church or the
community. Husameldin Elnasri from Sudan
won our high potential scholarship for show-
ing exceptional leadership qualities in his
career and personal life. Before starting his
MBA, Elnasri worked with two Sudanese NGOs
in the eld of human rights and alleviat-
ing poverty. He is a good example of where
we should be giving funding, to support some-
one who will go back to his own country and
help it. In 2012, Elnasri won AMBAs Student
of the Year award. In Sudan, he is part of a
national initiative for mentoring Sudanese
students to study abroad.
Some scholarships offer the excitement
of a public challenge to sort out the winners.
Nyenrode Business Universiteit holds an
annual online competition for candidates
around the world to pitch via the internet to a
live jury of faculty, staff and current students.
Six full and several partial scholarships are
on offer, and previous competitions attracted
thousands of applicants. Nyenrode also of-
fers the FD Career Challenge in partnership
with Dutch newspaper, Financieele Dagblad.
Applicants submit an essay describing an in-
novative business model to win scholarships.
The school awards scholarships to deserving
students, but with strings attached: the win-
ner has to donate to the scholarship fund after
graduating. Exceptional scholarship winners
at Brunel become ambassadors for the school,
taking part in webinars with prospective stu-
dents and appearing in pre-arrival guides.
Some scholarships come with obligations,
so be certain that youre prepared to take them
on. Corporate sponsorship could tie you in to
working for the company for some time after
graduating. LOreal scholarships come with
no strings attached, says Frdrique Scaven-
nec, the companys recruitment director. We
offer 20 scholarships and LOreal has a strong
relationship with HEC and Insead business
schools. We particularly support people from
emerging countries, offering scholarships for
African and Asian students. Its a win-win: we
fund the students and have the opportunity to
get to know them, and they have close contact
with our HR people while being under no ob-
ligation to join the company when they gradu-
ate although many do, she says.
Doing an MBA could be the best investment
you ever make, so dont let cost put you off. If
youre a strong candidate, youll nd a way.
AN MBA WILL EQUIP
ME WITH APPROACHES
TO SOLVE THE POVERTY
PROBLEMS IN MY
HOME COUNTRY
ALTERNATIVE
FUNDING
Prodigy Finance,
launched in 2007
by two Insead
alumni, offers loans
to MBA students
through finance
raised from private
investors, typically
within the business
school community.
Students are offered
7.5 per cent interest
with seven years
for repayment.
prodigyfinance.com
AYESHA
DSOUZA
Insead MBA
A
yesha DSouza claims that her
background is unusual for an
Indian, doing her first degree
in media and communications, then
working for Indias first all-English
radio station. But a stint with
Grameen, a Nobel prize-winning
microfinance bank, showed her the
gap in her management skills.
I realised that an MBA would fill
that gap, and I applied to Insead as a
top business school with a one-year
programme. I was overjoyed to get
a place, but the fees were 52,000
and living expenses were another
15,000. My family couldnt finance
me, and I was worried about how I
could pay the bills. Insead provided a
generous diversity scholarship worth
10,000, but even with my savings I
didnt have enough, and Indian banks
cant offer substantial loans.
Then Insead put her in touch with
Prodigy Finance (see left). There
was a very simple application
process, and I got an immediate
offer of a loan. The overall interest
rate was less than if Id borrowed
from an Indian bank, and now I have
a job I make monthly repayments
spread over seven years.
DSouza was impressed by the
service. Prodigy wasnt just lending
me money they wanted to make
it easy for me, and I feel they were
investing in my success.
When shes repaid her loan
she plans to repay the moral debt
also. I remember just how grateful
I was when I received this loan,
and I want to pass on that chance
to someone else.
40
ahead of time. The key is to read the require-
ments and present a compelling case. Some
students think a lacklustre approach will suf-
ce and theyll automatically get money. On
the contrary applicants must present their
business case in terms of facts, ability, rel-
evance, context and capability, which should
be linked to the funding on offer.
If you are
applying for a
needs- based
schol arshi p,
you should be
prepared to set
out your nan-
cial situation
coherently and
make a com-
pelling case for
the benets that an MBA will bring. Oladapo
Ogunoye, a nancial analyst from Nigeria,
was awarded a full scholarship from Salford
Business School worth 16,000. Without it,
studying for an MBA would have been impos-
sible. He argues that the solution to poverty
in Nigeria is strong, ethical leadership. In his
submission for a scholarship, he claims: An
MBA will equip me with practical approaches
to solve the poverty problems in the country
Im really so proud of.
Merit-based scholarships are competi-
tive, so your application must hit the mark.
A high GMAT score will help, says Chris
Saunders, director of full-time MBA pro-
grammes at Lancaster University Manage-
ment School, but he also looks for practical ex-
amples of leadership skills. Im not interested
in general statements. I want examples of
an ability to lead at school, in church or the
community. Husameldin Elnasri from Sudan
won our high potential scholarship for show-
ing exceptional leadership qualities in his
career and personal life. Before starting his
MBA, Elnasri worked with two Sudanese NGOs
in the eld of human rights and alleviat-
ing poverty. He is a good example of where
we should be giving funding, to support some-
one who will go back to his own country and
help it. In 2012, Elnasri won AMBAs Student
of the Year award. In Sudan, he is part of a
national initiative for mentoring Sudanese
students to study abroad.
Some scholarships offer the excitement
of a public challenge to sort out the winners.
Nyenrode Business Universiteit holds an
annual online competition for candidates
around the world to pitch via the internet to a
live jury of faculty, staff and current students.
Six full and several partial scholarships are
on offer, and previous competitions attracted
thousands of applicants. Nyenrode also of-
fers the FD Career Challenge in partnership
with Dutch newspaper, Financieele Dagblad.
Applicants submit an essay describing an in-
novative business model to win scholarships.
The school awards scholarships to deserving
students, but with strings attached: the win-
ner has to donate to the scholarship fund after
graduating. Exceptional scholarship winners
at Brunel become ambassadors for the school,
taking part in webinars with prospective stu-
dents and appearing in pre-arrival guides.
Some scholarships come with obligations,
so be certain that youre prepared to take them
on. Corporate sponsorship could tie you in to
working for the company for some time after
graduating. LOreal scholarships come with
no strings attached, says Frdrique Scaven-
nec, the companys recruitment director. We
offer 20 scholarships and LOreal has a strong
relationship with HEC and Insead business
schools. We particularly support people from
emerging countries, offering scholarships for
African and Asian students. Its a win-win: we
fund the students and have the opportunity to
get to know them, and they have close contact
with our HR people while being under no ob-
ligation to join the company when they gradu-
ate although many do, she says.
Doing an MBA could be the best investment
you ever make, so dont let cost put you off. If
youre a strong candidate, youll nd a way.
AN MBA WILL EQUIP
ME WITH APPROACHES
TO SOLVE THE POVERTY
PROBLEMS IN MY
HOME COUNTRY
ALTERNATIVE
FUNDING
Prodigy Finance,
launched in 2007
by two Insead
alumni, offers loans
to MBA students
through finance
raised from private
investors, typically
within the business
school community.
Students are offered
7.5 per cent interest
with seven years
for repayment.
prodigyfinance.com
AYESHA
DSOUZA
Insead MBA
A
yesha DSouza claims that her
background is unusual for an
Indian, doing her first degree
in media and communications, then
working for Indias first all-English
radio station. But a stint with
Grameen, a Nobel prize-winning
microfinance bank, showed her the
gap in her management skills.
I realised that an MBA would fill
that gap, and I applied to Insead as a
top business school with a one-year
programme. I was overjoyed to get
a place, but the fees were 52,000
and living expenses were another
15,000. My family couldnt finance
me, and I was worried about how I
could pay the bills. Insead provided a
generous diversity scholarship worth
10,000, but even with my savings I
didnt have enough, and Indian banks
cant offer substantial loans.
Then Insead put her in touch with
Prodigy Finance (see left). There
was a very simple application
process, and I got an immediate
offer of a loan. The overall interest
rate was less than if Id borrowed
from an Indian bank, and now I have
a job I make monthly repayments
spread over seven years.
DSouza was impressed by the
service. Prodigy wasnt just lending
me money they wanted to make
it easy for me, and I feel they were
investing in my success.
When shes repaid her loan
she plans to repay the moral debt
also. I remember just how grateful
I was when I received this loan,
and I want to pass on that chance
to someone else.
44
Y
ouve nished your studies and gradu-
ated. A year or more of hard work, late
nights, case studies, wrestling with
gures, frantic essay-writing and su-
preme patience from your partner are
behind you. So what next?
Almost everyone comes to the full-time
MBA looking for career change, and the vast
majority get it, says Nick Barniville, director
of MBA programmes at the European School of
Management and Technology (ESMT) in Ber-
lin. And in general, our graduates are much
more likely to go into positions in industry or
consulting than into nance.
The MBA remains a powerful engine for
change. At Insead, based at Fontainebleau
near Paris, 82 per cent of graduates changed
their country of work, sector or job function
when they left. Thirty-nine per cent went into
consulting, 38 per cent into corporate jobs and
23 per cent into nance.
But are the rewards still there? In the
mid-1990s some students tripled their salaries
after graduation. The nancial crisis has put
paid to that, but the good news is that MBA
graduates continue to achieve high salaries,
beating averages from a decade ago when in-
ation is taken into account, according to the
latest research from the Association of MBAs
(AMBA). Its 2013 career survey shows that the
median salary of graduates from accredited UK
schools working internationally is 75,000, the
highest since 2004. The base average of those
working in the UK was over 82,000. Almost
30 per cent of all respondents reported a salary
of over 100,000. The number of MBA gradu-
ates working in the public sector doubled in
a year, to almost one in 10, and 41 per cent of
them were women. But the survey shows a
strong representation in all sectors.
Europe is now the best payer of MBA gradu-
ates, according to research by the Graduate
Management Admissions Council (GMAC),
which administers the GMAT test. Of those
graduating from full-time two-year MBA pro-
grammes around the world, Europe came top
of the group for salaries. North
America, Asia and the Pacic
Islands came next.
There are also more jobs
out there than before. Of the
GMAC graduates, 92 per cent
were employed three months
after graduation, compared
with 86 per cent in the previous
survey: With some employers
expressing frustration about
graduates lack of experience and understand-
ing of professional life, courses such as MBAs
that provide relevant, practical employability
skills and a knowledge of business will be in
demand, says Carl Gilleard, chief executive of
the Association of Graduate Recruiters.
So what are the big employers looking for?
Christele de Waresquiel joined GE Capital after
graduating with an MBA from IESE Business
School, in Spain. She says the company wants
people who have demonstrated
achievement and leadership
in sales or marketing in their
previous careers. Candidates
should also have excellent com-
munication skills and an abil-
ity to embrace change. Strong
analytical skills and expertise
aligned with a GE business seg-
ment are key, she adds.
There are plenty of jobs ad-
vertised online, but when it comes to getting
them, soft skills are important. Get out there,
advises Cana Witt, careers ofcer at Lancas-
ter University Management School (LUMS).
Dont think it can all be done from the com-
fort of your shiny internet device. Youve got
THE MBA
Theres much more to the ultimate business
degree than just boosting your salary
after
BY PETER BROWN
COURSES SUCH AS
MBAS THAT PROVIDE
RELEVANT, PRACTICAL
EMPLOYABILITY SKILLS
WILL BE IN DEMAND
44
Y
ouve nished your studies and gradu-
ated. A year or more of hard work, late
nights, case studies, wrestling with
gures, frantic essay-writing and su-
preme patience from your partner are
behind you. So what next?
Almost everyone comes to the full-time
MBA looking for career change, and the vast
majority get it, says Nick Barniville, director
of MBA programmes at the European School of
Management and Technology (ESMT) in Ber-
lin. And in general, our graduates are much
more likely to go into positions in industry or
consulting than into nance.
The MBA remains a powerful engine for
change. At Insead, based at Fontainebleau
near Paris, 82 per cent of graduates changed
their country of work, sector or job function
when they left. Thirty-nine per cent went into
consulting, 38 per cent into corporate jobs and
23 per cent into nance.
But are the rewards still there? In the
mid-1990s some students tripled their salaries
after graduation. The nancial crisis has put
paid to that, but the good news is that MBA
graduates continue to achieve high salaries,
beating averages from a decade ago when in-
ation is taken into account, according to the
latest research from the Association of MBAs
(AMBA). Its 2013 career survey shows that the
median salary of graduates from accredited UK
schools working internationally is 75,000, the
highest since 2004. The base average of those
working in the UK was over 82,000. Almost
30 per cent of all respondents reported a salary
of over 100,000. The number of MBA gradu-
ates working in the public sector doubled in
a year, to almost one in 10, and 41 per cent of
them were women. But the survey shows a
strong representation in all sectors.
Europe is now the best payer of MBA gradu-
ates, according to research by the Graduate
Management Admissions Council (GMAC),
which administers the GMAT test. Of those
graduating from full-time two-year MBA pro-
grammes around the world, Europe came top
of the group for salaries. North
America, Asia and the Pacic
Islands came next.
There are also more jobs
out there than before. Of the
GMAC graduates, 92 per cent
were employed three months
after graduation, compared
with 86 per cent in the previous
survey: With some employers
expressing frustration about
graduates lack of experience and understand-
ing of professional life, courses such as MBAs
that provide relevant, practical employability
skills and a knowledge of business will be in
demand, says Carl Gilleard, chief executive of
the Association of Graduate Recruiters.
So what are the big employers looking for?
Christele de Waresquiel joined GE Capital after
graduating with an MBA from IESE Business
School, in Spain. She says the company wants
people who have demonstrated
achievement and leadership
in sales or marketing in their
previous careers. Candidates
should also have excellent com-
munication skills and an abil-
ity to embrace change. Strong
analytical skills and expertise
aligned with a GE business seg-
ment are key, she adds.
There are plenty of jobs ad-
vertised online, but when it comes to getting
them, soft skills are important. Get out there,
advises Cana Witt, careers ofcer at Lancas-
ter University Management School (LUMS).
Dont think it can all be done from the com-
fort of your shiny internet device. Youve got
THE MBA
Theres much more to the ultimate business
degree than just boosting your salary
after
BY PETER BROWN
COURSES SUCH AS
MBAS THAT PROVIDE
RELEVANT, PRACTICAL
EMPLOYABILITY SKILLS
WILL BE IN DEMAND
46
to get in front of people. Like many schools,
LUMS prepares its MBA cohort for job-hunting
throughout the course. The students, many of
whom change their minds about their careers
midway through the course, get help with
documentation and CVs and are given mock
interviews for real jobs of their choice by con-
sultants and recruitment professionals.
The network, of course, is all-important,
and here the size and efciency of the busi-
ness schools alumni department really comes
into play. Insead, for example, has 42,000
alumni working in 61 countries around the
world, of whom almost half are MBA alumni
so most people will be able to get to a meet-
ing somewhere. The main campus hosts three
reunions each year, including one giant event
during May, to which returning alumni, stu-
dents, faculty and staff are all invited. This
fabled networking opportunity is held at the
Fontainebleu Chateau, where the school was
born, half a century ago.
Such associations are playing an increasing-
ly important role, enabling MBA graduates not
only to renew their links with each other, but
to meet students from other years or courses
at the same school, to hear inuential speak-
ers in their chosen subjects, and to bring their
education up to date.
Nicole Gillham is director of alumni rela-
tionships and development at Henley Busi-
ness School. We encourage students to come
to alumni activities for their
benet from the day they join
the school, she says. Then
once they graduate we look
to continue that relationship.
That might be us supporting
them in their career develop-
ment or networking, or them
supporting us.
This support might involve
graduates becoming a mentor
for current students or offering placements
or employment opportunities at their com-
pany. We have about 45,000 Henley Busi-
ness School alumni from the post-experience
programme and about 20,000 pre-experience
graduates. In the UK we run a number of spe-
cial interest groups, including a healthcare
group, leadership and organisational change,
e-business, and nance clubs, says Gillham.
That allows alumni to mix
with others who are working
in their sector. It also allows
students or graduates who are
looking to move into that sector
to get an understanding of what
it will be like, she continues.
Recently, for example, we had
Air Vice-Marshal Michael Har-
wood talking about his experi-
ence of leadership to a group of
about 80 people in Holborn, London.
These types of events denitely lead to jobs
for those who make the most of the opportu-
nity, says Gillham. And its knowing how to
use the network choosing a relevant event,
looking at the guest list in advance, doing a bit
of research, making sure you speak to the right
people and then making the most of those
connections going forward.
Several websites are devoted to the business
of MBA job-hunting MBAExchange.com,
mbaandco.com and BusinessBecause.com are
just a few examples. The social and business
networking media are playing an ever-impor-
tant part. London Business School (LBS), for
example, has 13,000 Twitter followers, a rapid-
ly expanding LinkedIn group and 20,000 fans
on Facebook, where alumni and students trade
information, offer help and even post pictures
of the school buildings at dawn. Meanwhile,
AMBA has a magazine called Ambition, full of
job-hunting tips.
And remember, not everyone wants to join
a big company. One group of three MBA stu-
dents who met in 2010 seemed to have very lit-
tle in common aside from the long hours they
spent together in the classroom at ESMT in
Berlin. Dimitri Gugunava from Georgia was an
entrepreneur with a background as a retailer,
WE ENCOURAGE
STUDENTS TO COME
TO ALUMNI ACTIVITIES
FROM THE DAY THEY
JOIN THE SCHOOL
RAMI
AL-AWARTANI
MBA at Salford Business School
R
ami Al-Awartani, aged 33,
from Jordan, was a customer
services manager at Jordan
Ahli Bank before his MBA at Salford
Business School.
It was time for a change. I was
looking for a new experience, and I
was also keen to do something that
would open up new opportunities
for my career. After some reflection
and research, I had decided early
on that I wanted to study either in
the UK or in the US. Salford was in
a good location, well priced and
highly respected.
The open discussion the lecturers
encourage really helped me to learn
from the professionals and my fellow
students. There were people from all
backgrounds, the commercial sector,
government and charities. The
range of experiences really helped
me to expand my way of thinking
about businesses.
I graduated in 2008 and now
Im a project manager at Omnix
International, one of the leading IT
companies in the Middle East.
Doing the MBA really paid off.
It totally changed the way I think
about business and helped me
develop the skills to work in a much
more strategic role. Im based in
Jordan but I also work in Dubai,
Saudi Arabia, Oman and Iraq. We
deal with customers with different
backgrounds and its very important
to think internationally. My only
advice would be to join the MBA with
some kind of work experience it
helps to compare your learning with
experiences youve already had.
THE RECRUITERS
WISH LIST
A clear strategy
about how to
apply theoretical
knowledge in
a corporate
environment
Business acumen
and a sound
commercial brain
Depth of analytical
ability and
strategic thinking
Effective
presentation
of thoughts
A relevant career
history
46
to get in front of people. Like many schools,
LUMS prepares its MBA cohort for job-hunting
throughout the course. The students, many of
whom change their minds about their careers
midway through the course, get help with
documentation and CVs and are given mock
interviews for real jobs of their choice by con-
sultants and recruitment professionals.
The network, of course, is all-important,
and here the size and efciency of the busi-
ness schools alumni department really comes
into play. Insead, for example, has 42,000
alumni working in 61 countries around the
world, of whom almost half are MBA alumni
so most people will be able to get to a meet-
ing somewhere. The main campus hosts three
reunions each year, including one giant event
during May, to which returning alumni, stu-
dents, faculty and staff are all invited. This
fabled networking opportunity is held at the
Fontainebleu Chateau, where the school was
born, half a century ago.
Such associations are playing an increasing-
ly important role, enabling MBA graduates not
only to renew their links with each other, but
to meet students from other years or courses
at the same school, to hear inuential speak-
ers in their chosen subjects, and to bring their
education up to date.
Nicole Gillham is director of alumni rela-
tionships and development at Henley Busi-
ness School. We encourage students to come
to alumni activities for their
benet from the day they join
the school, she says. Then
once they graduate we look
to continue that relationship.
That might be us supporting
them in their career develop-
ment or networking, or them
supporting us.
This support might involve
graduates becoming a mentor
for current students or offering placements
or employment opportunities at their com-
pany. We have about 45,000 Henley Busi-
ness School alumni from the post-experience
programme and about 20,000 pre-experience
graduates. In the UK we run a number of spe-
cial interest groups, including a healthcare
group, leadership and organisational change,
e-business, and nance clubs, says Gillham.
That allows alumni to mix
with others who are working
in their sector. It also allows
students or graduates who are
looking to move into that sector
to get an understanding of what
it will be like, she continues.
Recently, for example, we had
Air Vice-Marshal Michael Har-
wood talking about his experi-
ence of leadership to a group of
about 80 people in Holborn, London.
These types of events denitely lead to jobs
for those who make the most of the opportu-
nity, says Gillham. And its knowing how to
use the network choosing a relevant event,
looking at the guest list in advance, doing a bit
of research, making sure you speak to the right
people and then making the most of those
connections going forward.
Several websites are devoted to the business
of MBA job-hunting MBAExchange.com,
mbaandco.com and BusinessBecause.com are
just a few examples. The social and business
networking media are playing an ever-impor-
tant part. London Business School (LBS), for
example, has 13,000 Twitter followers, a rapid-
ly expanding LinkedIn group and 20,000 fans
on Facebook, where alumni and students trade
information, offer help and even post pictures
of the school buildings at dawn. Meanwhile,
AMBA has a magazine called Ambition, full of
job-hunting tips.
And remember, not everyone wants to join
a big company. One group of three MBA stu-
dents who met in 2010 seemed to have very lit-
tle in common aside from the long hours they
spent together in the classroom at ESMT in
Berlin. Dimitri Gugunava from Georgia was an
entrepreneur with a background as a retailer,
WE ENCOURAGE
STUDENTS TO COME
TO ALUMNI ACTIVITIES
FROM THE DAY THEY
JOIN THE SCHOOL
RAMI
AL-AWARTANI
MBA at Salford Business School
R
ami Al-Awartani, aged 33,
from Jordan, was a customer
services manager at Jordan
Ahli Bank before his MBA at Salford
Business School.
It was time for a change. I was
looking for a new experience, and I
was also keen to do something that
would open up new opportunities
for my career. After some reflection
and research, I had decided early
on that I wanted to study either in
the UK or in the US. Salford was in
a good location, well priced and
highly respected.
The open discussion the lecturers
encourage really helped me to learn
from the professionals and my fellow
students. There were people from all
backgrounds, the commercial sector,
government and charities. The
range of experiences really helped
me to expand my way of thinking
about businesses.
I graduated in 2008 and now
Im a project manager at Omnix
International, one of the leading IT
companies in the Middle East.
Doing the MBA really paid off.
It totally changed the way I think
about business and helped me
develop the skills to work in a much
more strategic role. Im based in
Jordan but I also work in Dubai,
Saudi Arabia, Oman and Iraq. We
deal with customers with different
backgrounds and its very important
to think internationally. My only
advice would be to join the MBA with
some kind of work experience it
helps to compare your learning with
experiences youve already had.
THE RECRUITERS
WISH LIST
A clear strategy
about how to
apply theoretical
knowledge in
a corporate
environment
Business acumen
and a sound
commercial brain
Depth of analytical
ability and
strategic thinking
Effective
presentation
of thoughts
A relevant career
history
48
Clment Luton was a nancial services project
manager and Tomer Sabag was a telecommu-
nications expert. Yet together the three creat-
ed a successful start-up called SumUp, an app
which enables businesses to use smartphones
and tablets to accept credit card payments.
Last year, it attracted $20m (13m) in venture
capital funding.
While many MBA students begin their stud-
ies with a start-up idea already in mind. Bren-
da Herrera, from Peru, was well into her course
at London Business School, when she had the
idea of selling the coconut water she so enjoyed
each day in her yoga class. She plans to launch
the product in South America this year.
MBA graduates often like to work where they
have studied. At ESMT, for example, although
only 10 per cent of the students are German,
more than 60 per cent take their rst post-
MBA job in Germany. A visa is crucial to getting
a job, and while the UK has recently tightened
its requirements, these are often misunder-
stood, says Cana Witts, MBA careers adviser at
LUMS: Any UK graduate with specialist skills
can be employed here at the Tier 2 level with-
out going through the labour market test and
without being part of the immigration cap.
These days, an international outlook is vi-
tal for MBA graduates looking to improve their
careers. Many schools offer the chance to study
or work abroad as part of the programme.
IESE last year offered electives out of China,
Kenya, Singapore, the US and
Brazil. Of last years graduates,
65 per cent were placed in Eu-
ropean countries, including 30
per cent in Spain, 14 per cent in
the UK and 7 per cent in Ger-
many. The top recruiters were
McKinsey, Johnson & Johnson
and Amazon.
A good job, however, is not
the end of the story: continu-
ing professional development is vital. AMBA
runs refresher courses and many schools
tempt their alumni back with short cours-
es on specialist subjects. The Surrey Busi-
ness School, for example, has an annual
summer school that graduates can attend to
keep them updated on the latest thinking.
Westminster Business School allows MBA
alumni to return whenever they want to do
any modules they missed, or
any new module that comes on
stream, at a reduced cost.
Multinational companies al-
so have in-house postgraduate
programmes. GE Capital, for
example, runs a rotating pro-
gramme in which every par-
ticipant gets at least six weeks
training over two years.
Finally, if you sell your
hedge fund, dont forget your old school. At
least one top American institution asks all
its MBA intakes to turn out their pockets on
their rst day: a prelude to a lifetimes giving.
Britain, with its tradition of publicly funded
education, has lagged behind on bursaries,
scholarships and hardship funds, but it is
catching up fast.
You will be getting a phone call.
AN INTERNATIONAL
OUTLOOK IS VITAL
FOR MBA GRADUATES
LOOKING TO IMPROVE
THEIR CAREERS
75k
average international
salary of graduates
82k
average salary
of graduates in UK
10k
expected salary
increase for
five years
SALARY
OUTCOMES
*Source: AMBA Careers
Survey, 2013
90k
average UK salary of
graduates including
bonuses
60k
average UK salary
1 year after gaining
MBA
97k
average salary of MBAs
working in the
energy sector
MONEY BY NUMBERS*
SIMON
NICHOLSON
MBA at Brunel Business School
S
i mon Ni chol son was worki ng as
operati ons di rector for a smal l
pri vatel y owned company when
he real i sed he needed to enhance hi s
busi ness qual i fi cati ons. The answer
was an MBA at Brunel Busi ness
School . He graduated l ast year.
After attendi ng an open event
at the uni versi ty I enqui red about
the MBA and I was i mpressed wi th
the course content and structure,
and wi th the staff presentati on
and openness. I t seemed to be
a wel l -structured MBA tai l ored
towards students wi th si gni fi cant
busi ness experi ence.
I real l y enj oyed the course and I
bui l t new contacts. When i t came to
progressi ng my career at the end of
i t, I had a great deal of hel p from a
dedi cated careers offi cer at Brunel .
I ntervi ews these days tend to be
competence-based and she di d
several dry runs wi th me. I fol l owed
the usual route and appl i ed for a
j ob adverti sed onl i ne for operati ons
di rector at Oxford I nstruments, a
FTSE 250 company.
I had a pre-screen i ntervi ew wi th
the external provi der and soon
I was meeti ng the di rectors and
executi ves. I got the j ob.
Our parti cul ar di vi si on makes X-ray
anal yti cal i nstruments for materi al s
anal ysi s, and I d had previ ous
experi ence i n Chi na, whi ch hel ped.
Obvi ousl y you have to be abl e to do
the j ob, but the MBA gave me a wi der
vi ew of busi ness than j ust operati ons,
and that was defi ni tel y of use.
48
Clment Luton was a nancial services project
manager and Tomer Sabag was a telecommu-
nications expert. Yet together the three creat-
ed a successful start-up called SumUp, an app
which enables businesses to use smartphones
and tablets to accept credit card payments.
Last year, it attracted $20m (13m) in venture
capital funding.
While many MBA students begin their stud-
ies with a start-up idea already in mind. Bren-
da Herrera, from Peru, was well into her course
at London Business School, when she had the
idea of selling the coconut water she so enjoyed
each day in her yoga class. She plans to launch
the product in South America this year.
MBA graduates often like to work where they
have studied. At ESMT, for example, although
only 10 per cent of the students are German,
more than 60 per cent take their rst post-
MBA job in Germany. A visa is crucial to getting
a job, and while the UK has recently tightened
its requirements, these are often misunder-
stood, says Cana Witts, MBA careers adviser at
LUMS: Any UK graduate with specialist skills
can be employed here at the Tier 2 level with-
out going through the labour market test and
without being part of the immigration cap.
These days, an international outlook is vi-
tal for MBA graduates looking to improve their
careers. Many schools offer the chance to study
or work abroad as part of the programme.
IESE last year offered electives out of China,
Kenya, Singapore, the US and
Brazil. Of last years graduates,
65 per cent were placed in Eu-
ropean countries, including 30
per cent in Spain, 14 per cent in
the UK and 7 per cent in Ger-
many. The top recruiters were
McKinsey, Johnson & Johnson
and Amazon.
A good job, however, is not
the end of the story: continu-
ing professional development is vital. AMBA
runs refresher courses and many schools
tempt their alumni back with short cours-
es on specialist subjects. The Surrey Busi-
ness School, for example, has an annual
summer school that graduates can attend to
keep them updated on the latest thinking.
Westminster Business School allows MBA
alumni to return whenever they want to do
any modules they missed, or
any new module that comes on
stream, at a reduced cost.
Multinational companies al-
so have in-house postgraduate
programmes. GE Capital, for
example, runs a rotating pro-
gramme in which every par-
ticipant gets at least six weeks
training over two years.
Finally, if you sell your
hedge fund, dont forget your old school. At
least one top American institution asks all
its MBA intakes to turn out their pockets on
their rst day: a prelude to a lifetimes giving.
Britain, with its tradition of publicly funded
education, has lagged behind on bursaries,
scholarships and hardship funds, but it is
catching up fast.
You will be getting a phone call.
AN INTERNATIONAL
OUTLOOK IS VITAL
FOR MBA GRADUATES
LOOKING TO IMPROVE
THEIR CAREERS
75k
average international
salary of graduates
82k
average salary
of graduates in UK
10k
expected salary
increase for
five years
SALARY
OUTCOMES
*Source: AMBA Careers
Survey, 2013
90k
average UK salary of
graduates including
bonuses
60k
average UK salary
1 year after gaining
MBA
97k
average salary of MBAs
working in the
energy sector
MONEY BY NUMBERS*
SIMON
NICHOLSON
MBA at Brunel Business School
S
i mon Ni chol son was worki ng as
operati ons di rector for a smal l
pri vatel y owned company when
he real i sed he needed to enhance hi s
busi ness qual i fi cati ons. The answer
was an MBA at Brunel Busi ness
School . He graduated l ast year.
After attendi ng an open event
at the uni versi ty I enqui red about
the MBA and I was i mpressed wi th
the course content and structure,
and wi th the staff presentati on
and openness. I t seemed to be
a wel l -structured MBA tai l ored
towards students wi th si gni fi cant
busi ness experi ence.
I real l y enj oyed the course and I
bui l t new contacts. When i t came to
progressi ng my career at the end of
i t, I had a great deal of hel p from a
dedi cated careers offi cer at Brunel .
I ntervi ews these days tend to be
competence-based and she di d
several dry runs wi th me. I fol l owed
the usual route and appl i ed for a
j ob adverti sed onl i ne for operati ons
di rector at Oxford I nstruments, a
FTSE 250 company.
I had a pre-screen i ntervi ew wi th
the external provi der and soon
I was meeti ng the di rectors and
executi ves. I got the j ob.
Our parti cul ar di vi si on makes X-ray
anal yti cal i nstruments for materi al s
anal ysi s, and I d had previ ous
experi ence i n Chi na, whi ch hel ped.
Obvi ousl y you have to be abl e to do
the j ob, but the MBA gave me a wi der
vi ew of busi ness than j ust operati ons,
and that was defi ni tel y of use.
50
FURTHER INFORMATION
12
WHY DO AN MBA?
Association of MBAs (AMBA)
mbaworld.com
Hult Prize
hultprize.org
Graduate Management
Admissions Council (GMAC)
gmac.com
20
HOW TO CHOOSE
Bloomberg Businessweek
businessweek.com
The Economist/Which MBA
economist.com/whichmba
Forbes
forbes.com
MBA 50
mba50.com
Find Your MBA
findyourmba.com
MBA Depot
mbadepot.com
28
HOW TO APPLY
Fortuna Admissions
fortunaadmissions.com
Graduate Management
Admissions Test (GMAT)
mba.com
Sample questions
gmac.com
36
MBA FINANCING

QS Top MBA
topmba.com
QS World MBA Tour
topmba.com/
qs-world-mba-tour
Beat The GMAT
beatthegmat.com
MBA Scholarships 101
mbascholarships101.com
Fort Foundation
fortefoundation.org
Prodigy Finance
prodigyfinance.com
44
AFTER THE MBA
Ambition
mbaworld.com/ambition
Association of Graduate
Recruiters
agr.org.uk
MBA Exchange
mbaexchange.com
Business Because
businessbecause.com
MBA & Company
mbaandco.com
THE ASSOCIATION OF MBAs
The Associ ati on of MBAs (AMBA)
i s the i nternati onal i mparti al
authori ty on postgraduate busi ness
educati on. I ts accredi tati on
servi ce i s the gl obal standard for
al l MBA, DBA and MBM programmes
and i t accredi ts MBA provi si on at
more than 200 busi ness school s
i n 70 countri es. I t i s al so the
onl y professi onal membershi p
associ ati on connecti ng MBA
students and graduates,
accredi ted busi ness school s
and MBA empl oyers worl dwi de.
I nformati on on accredi tati on,
membershi p and events i s avai l abl e
at mbaworld.com. AMBA offers
pre-MBA students an onl i ne
gui de to choosi ng an MBA wi th
practi cal advi ce and i nformati on
on accredi ted busi ness school s at
ambaguide.com
Learn, experience, lead.
We are looking for motivated, experienced managers
to develop into the leaders of tomorrow and become
part of our ever-growing global network.
With the long-established excellence of our teaching
and our passion for practical application we inspire
and challenge you to achieve your full potential.
Find out more about the Leeds MBA at www.theleedsmba.com
or visit us at one of our open events. Our next events are Saturday
27 April, Thursday 4 July and Tuesday 3 September.
THE LEEDS MBA
8959_LUBS_independent_guide_ad_v2.indd 1 13/03/2013 11:33
50
FURTHER INFORMATION
12
WHY DO AN MBA?
Association of MBAs (AMBA)
mbaworld.com
Hult Prize
hultprize.org
Graduate Management
Admissions Council (GMAC)
gmac.com
20
HOW TO CHOOSE
Bloomberg Businessweek
businessweek.com
The Economist/Which MBA
economist.com/whichmba
Forbes
forbes.com
MBA 50
mba50.com
Find Your MBA
findyourmba.com
MBA Depot
mbadepot.com
28
HOW TO APPLY
Fortuna Admissions
fortunaadmissions.com
Graduate Management
Admissions Test (GMAT)
mba.com
Sample questions
gmac.com
36
MBA FINANCING

QS Top MBA
topmba.com
QS World MBA Tour
topmba.com/
qs-world-mba-tour
Beat The GMAT
beatthegmat.com
MBA Scholarships 101
mbascholarships101.com
Fort Foundation
fortefoundation.org
Prodigy Finance
prodigyfinance.com
44
AFTER THE MBA
Ambition
mbaworld.com/ambition
Association of Graduate
Recruiters
agr.org.uk
MBA Exchange
mbaexchange.com
Business Because
businessbecause.com
MBA & Company
mbaandco.com
THE ASSOCIATION OF MBAs
The Associ ati on of MBAs (AMBA)
i s the i nternati onal i mparti al
authori ty on postgraduate busi ness
educati on. I ts accredi tati on
servi ce i s the gl obal standard for
al l MBA, DBA and MBM programmes
and i t accredi ts MBA provi si on at
more than 200 busi ness school s
i n 70 countri es. I t i s al so the
onl y professi onal membershi p
associ ati on connecti ng MBA
students and graduates,
accredi ted busi ness school s
and MBA empl oyers worl dwi de.
I nformati on on accredi tati on,
membershi p and events i s avai l abl e
at mbaworld.com. AMBA offers
pre-MBA students an onl i ne
gui de to choosi ng an MBA wi th
practi cal advi ce and i nformati on
on accredi ted busi ness school s at
ambaguide.com
Learn, experience, lead.
We are looking for motivated, experienced managers
to develop into the leaders of tomorrow and become
part of our ever-growing global network.
With the long-established excellence of our teaching
and our passion for practical application we inspire
and challenge you to achieve your full potential.
Find out more about the Leeds MBA at www.theleedsmba.com
or visit us at one of our open events. Our next events are Saturday
27 April, Thursday 4 July and Tuesday 3 September.
THE LEEDS MBA
8959_LUBS_independent_guide_ad_v2.indd 1 13/03/2013 11:33
#AMBAfair
Sponsored by
Have you seen
this logo?
If you are a future MBA
looking for the right course,
you will recognise this mark
of quality listed on the
materials of top reputable
business schools. Find
an accredited MBA at
www.ambaguide.com
ACCREDITED
MBA FAIR 2013
Park Plaza Victoria Hotel,
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Sat 13 April and
Sat 12 October 2013 (TBC)
Register online at:
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