Looks like it is the season for MBA applications. Last few weeks I have been taking to someone from east coast who really wants to make it to business school in Fall 2009 and is leaving no stone unturned. Today I met another person who wanted some advice on the applications process/criteria. Due to the highly competitive full time program admissions process, these kids are all stressed out about the whole process and their chances. All that information available on the B-School sites (which is more marketing than anything else) and the forums where people are stressing out if they have the right profile/GMAT etc. are enough to make this admissions process seem daunting. As an older candidate with the stereotypical Indian software/IT background who got into all the top three schools I applied to, the only piece of advice I really gave them was to really get those stories right. Many applicants have great profiles (recommendations, GPAs, GMAT, progress at work etc.) but they don’t spend enough time working/thinking through their stories.
And I met yet another person this week who is running an early stage somewhat successful enterprise software business. He is too experienced to even consider full time MBA. He was wondering about the benefits of an MBA, whether part time or executive. I managed to discourage him from considering either of the options if he was pursuing his business seriously with no intent to change careers. Frankly running a an existing business and doing an executive or part time MBA just won’t work due to time commitments each deserves. If you are already running a business that is successful in its own way, and have no intentions of climbing the corporate ladder or switch to a different career, you are better off focusing all your energy into making your business even more successful. I advised him to look into week long workshops business schools conduct for executives from time to time.. to get more bang for his buck and polish up on skills he lacks. I wish Bschools would come up with more programs targeted at technical people/entrepreneurs. Last but not the least, $120K is no pocket change, especially if you are not going back to a cushy corporate career.
