Business School Emerging As Attractive Option for Wall Street’s Finance Refugees Says Veritas Prep
Among the casualties of Lehman Bros., AIG and others who have recently lost their jobs in finance, many are expected to step out of the workforce for a couple of years and reset their career paths in business school to become better qualified when they reenter the industry. However, financial refugees seeking admission into a leading MBA may find it especially difficult to set themselves apart from a crowded field of similar-looking applicants, according to according to Veritas Prep, a leading GMAT prep and MBA admissions consulting company.
“While attending business school might seem like a good plan at tenuous times like these, many business schools are wary of the applicant who chooses business school by default,” explains Scott Shrum, director of MBA admissions research at Veritas Prep and co-author of “Your MBA Game Plan: Proven Strategies for Getting Into the Top Schools.”"Even if it’s a little sooner than otherwise planned, if prospective students can demonstrate reasons why it makes sense that they are applying to business school — and show that they would make a profound contribution to the classroom setting — MBA admissions officers will approach their application with an open mind.”
Whether they decided to pursue an MBA five years ago or five hours ago, there a few key questions prospective business students should ask themselves to gauge if and when it is appropriate to apply to business school, especially if they’ve just been laid off from their jobs:
1. Can you explain how an MBA would help you in your career? Aside from it helping you find a new job, can you articulate why an MBA will assist you in your career path? Oftentimes, the more formal education that comes with an MBA might be just what you need to keep progressing in your current industry or make the shift to a new career.
2. Can you demonstrate why your target business school is a good fit for you? It is crucial that you understand the differences among top MBA programs and be able to explain why one school is a better fit for you than another.
3. Has your career been on an upward trajectory? Top business schools like to place their bets on applicants who are on their way up in the world. Even if you’ve recently lost your job for reasons outside of your control, you want to be able to show a steady progression in achievements, responsibilities, and compensation in your career.
4. Do you have contacts willing to provide great letters of recommendation? Admissions officers understand that, sometimes, even the best people lose their jobs. The best way to show that you were merely a victim of circumstance is to let others — ideally your manager — do the talking and provide a glowing review about your performance and your future career potential.
For additional tips on if and when to seek admission into a top MBA program, visit http://www.veritasprep.com.
About Veritas Prep
Veritas Prep is a leading GMAT prep provider that offers effective learning programs to help students improve their GMAT scores and gain admission to the world’s best graduate schools. Founded in 2002 by graduates from the Yale School of Management, Veritas Prep offers live GMAT prep instruction in more than 70 cities worldwide, as well as interactive online courses. In addition to the most comprehensive GMAT prep courses available, Veritas Prep offers industry-leading admissions consulting to applicants seeking admission to the world’s most competitive MBA programs and law schools. To learn more, visit http://www.veritasprep.com.
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SOURCE: Veritas Prep