Hearing Back from B-Schools

You’ve been checking your mailbox anxiously every day for those letters—the ones from the business schools where you’ve applied for admission.

While you wait, make sure you have a game plan for each of the three following possibilities:

Congratulations!  But after you finish high-fiving friends and family, consider these points:

Is This School the Right One?

• Go on your gut: You’re the best judge if this program will best meet your interests, talents, and goals.
• Get confirmation: Talk with your mentors, teachers, alumni and other students with interests that match your own.
• Check your wallet: Can you afford the program? Contact the financial aid office to be sure.
• Respond by the decision deadline: Otherwise, you run the risk of losing the school’s offer.
• Be ready to live with your decision: Transferring credits to another program isn’t a given.  So if you decide later that this program isn’t for you and want to transfer, you may have to repeat or complete additional coursework to fulfill the requirements for total credit hours.

What If Several Schools Say Yes?

• Forget (for a moment) the cost differences.
• Prioritize your needs based on your self-assessment.
• Re-examine your short list of schools and why each is on it.
• Visit schools you haven’t seen and even revisit the others. The cost of one additional trip is not a big deal compared with the cost of the investment you’re about to make.

Can You Defer Enrollment?

You can, but try to avoid it. Most schools will consider deferrals, but only for valid reasons such as:

• Family crisis or illness
• Unforeseen work promotion or new project opportunity
• Inability to acquire visa papers in time to study in a foreign country

A wait list isn’t the end of the world.  With a limited number of spaces in their MBA programs, schools will admit candidates they think are the best match first. Other strong candidates may be put on a wait list in case space opens up.

What Should You Do First?

If you are wait-listed, call the school to ask whether it would be helpful to submit additional information. Also, find out:

• What your chances are for being added to the class this year?
• How long the school will maintain the wait list?
• What the process is for admitting students from the wait list?

What If You Are Not Selected from the Wait List?

There are some positive steps you can take to improve your chances for reconsideration next year.

• Need to add to the quantity and/or quality of your work experience? A year or two in a different job or with new responsibilities might help strengthen your application.
• Have a lack of quantitative courses or poor grades? Taking or repeating an economics, calculus, or statistics course would demonstrate aptitude and motivation.
• Have a weak GMAT® score? Consider retaking the test after more preparation. Most schools will consider your best score rather than your most recent score, so there is little downside. But don’t expect a higher score unless you study.

What Else Can You Do If You Don’t Get an Offer?

• Meet with your admissions counselor and make a new list of schools where your credentials would be more competitive.
• Re-evaluate your options. Do you really need an MBA to achieve your goals?

One shut door is no reason to give up. Instead, take what you’ve learned and apply it to getting what you want.

Take a Second Hard look

Review your criteria and develop a new list. If you plan to reapply to the same schools, understand that your chances may not improve unless you can change your application in significant ways.

Talk to People in Your Network

Ask them to give you an honest assessment and suggestions on ways to improve your marketability. And consider the possibility that you could achieve your professional goals without getting an MBA.