<ul>
<li>College: Lehigh University</li>
<li>Major: Computer Science and Business</li>
<li>Minor: History</li>
<li>Enlisted in the U.S. Army Reserve</li>
<li>MOS (military occupational specialty): Computer Systems Operator-Analyst</li>
<li>ROTC (Reserve Officers Training Corps)</li>
<li>Minority Male (Asian -> Khmer [Cambodian])</li>
</ul>
<p>Thus, I shall graduate from Lehigh with a BS in Computer Science and Business, as well as be awarded an Officer Commission (Second Lieutenant) in the Signal Corps (continuing my MOS).</p>
<p>Assuming my grades are top-notch, I did some business projects/internships during those years, etc., does it seem likely that I will be able to get into an MBA program at someplace like Wharton, Harvard, etc. straight out of undergrad? I checked the average graduate at those schools is around 29 years old! :-/</p>
<p>What else makes an "ideal" candidate?</p>
<p>Provided I have enough energy, and it is advantageous at the time, I am also thinking of hoping to do a joint degree JD/MBA program.</p>
<p>I agree with futurenyustudent in that it is extremely difficult for anybody to get admitted to a top B-school with no full-time work experience.</p>
<p>Why do people think they can get into a top 5 MBA program with no previous work experience?</p>
<p>You know, I sometimes think this is why some of the top schools don't have undergraduate business programs--they don't want to have to turn down their own undergraduates who want to go directly into the MBA program.</p>
<p>Here's the scoop--if you were 4.0 GPA at Harvard, Yale or MIT in a tough discipline and if you get a 750+ on the GMAT (99.8%), and if you already started your own business and have over $2 million in sales per year, then you might have about a 50% chance of going directly into a top 5 MBA program. In any other situation, your odds are less than 10% (and usually closer to 0-1%). </p>
<p>Here are the statistics for last year's applications at the top 6 schools:
Stanford--10% acceptances
Harvard--12% acceptances
Wharton--16% acceptances
MIT--17% acceptances
Northwestern--22% acceptances
NYU--22% acceptances</p>
<p>Average years of work experience of accepted class:
Stanford--4 years
Harvard--4 years
Wharton--6 years
MIT--5 years
Northwestern--5.16 years
NYU--4.9 years</p>
<p>Average GMAT score (note that 690 is about the 99th percentile on this test)
Stanford--711
Harvard--708
Wharton--714
MIT--710
Northwestern--700
NYU--700</p>
<p>And if you wanted to get into the Law Program at Harvard, you need about a 96-97% on the LSAT, which is a hell of a lot tougher than it sounds, since only people with about 3.4-3.5+ GPAs out of college even try to get into law school--and this means you have to be in the top 3-4% of these test takers.</p>
<p>Anyway, come back after you have a 700 on the GMAT and a 96% on the LSAT and a 3.5 to 3.6 GPA at Lehigh and 4-5 years of work experience at a top-notch company and then we'll tell you that you have about a 50-50 shot at getting in, okay?</p>
<p>Sorry to be so blunt--but the stats are just unbelievable to get into these programs--and I think the average student just doesn't realize this.</p>
<p>690 is 99th percentile? So do you have to be some sort of genius in order to do that well, or is that statistic exaggerated by the "dumber" people that take the test?</p>
<p>"Here's the scoop--if you were 4.0 GPA at Harvard, Yale or MIT in a tough discipline and if you get a 750+ on the GMAT (99.8%), and if you already started your own business and have over $2 million in sales per year, then you might have about a 50% chance of going directly into a top 5 MBA program. In any other situation, your odds are less than 10% (and usually closer to 0-1%). "</p>
<p>wow are you sure about this calcruzer...I know its hard and unpredictable getting in no doubt about that.but if someone has $2 MM sales a year from their own business and he/she is not even 22 thats pretty impressive. Someone like that probably wouldn't even need a MBA, considering the entering class at places such as Wharton/Harvard were making an average of only $60000/yr before coming to those schools. And whartons acceptance rate is a bit higher than 16%</p>
<p>^^ I can answer that because I too wanted to enter bschool straight after undergrad before knowing all the disadvatanges and finding out how hard it is in the place. Well the reason for me was that I wanted to be an Ibanking associate making $200k a year at the age of 24 as apposed to 26+. This way I can move up the ranks to VP/MD by the time I hit my early 30s and with the less hours that VP/MD work I can concentrate more on my family etc.</p>
<p>Don't forget that even if you get into business school straight out of undergrad, your chances of getting hired by an investment bank/private equity or venture capital fund/hedge fund are pretty much zero. Employers look at your business school experience as well as your work experience before business school when making hiring decisions.</p>
<p>
[quote]
^^ I can answer that because I too wanted to enter bschool straight after undergrad before knowing all the disadvatanges and finding out how hard it is in the place. Well the reason for me was that I wanted to be an Ibanking associate making $200k a year at the age of 24 as apposed to 26+. This way I can move up the ranks to VP/MD by the time I hit my early 30s and with the less hours that VP/MD work I can concentrate more on my family etc.
<p>Get a grip Sammy, VPs and MDs never see their families. Last summer I watched as they all called to tell their families in the Hamptons they wouldn't be making it....</p>
<p>I took the GMAT twice and my first score was 693 (my second was 750)--and had my first score marked as 99%--. Now that was a long time ago (20+ years), and I understand the averages have gone up significantly, but according to this site---</p>
<p>720 is still over 99%--so you and I are both wrong--me in saying 690 is 99th and you in saying 750 is 99th. Note that it also says 630 is over 90%--so I doubt that 690 is anywhere near 92%--probably closer to around 96-97% today.</p>
<p>P.S. You have to look in the section entitled "Rising Average SAT Scores" on this site to get the real detail--you can't go by the numbers in the graphics. Also, read carefully because it says "the average GMAT score is 699"--but that refers to the average GMAT score for acceptance at the top ten business schools in the country. It also points out that since these schools accept disadvantaged students with lesser scores, the normal applicant needs about a 720 (or over 99%--as I said) to gain acceptance.</p>
<p>
[quote]
^^ I can answer that because I too wanted to enter bschool straight after undergrad before knowing all the disadvatanges and finding out how hard it is in the place. Well the reason for me was that I wanted to be an Ibanking associate making $200k a year at the age of 24 as apposed to 26+. This way I can move up the ranks to VP/MD by the time I hit my early 30s and with the less hours that VP/MD work I can concentrate more on my family etc.
[/quote]
</p>
<p>Well, look, the truth is, most Ibankers never make it to the VP/MD ranks, either because they aren't good enough or because they find out that they don't really like Ibanking. Ibanking is just a temporary waystation for most people.</p>
<p>That's why I encourage people who are interested in Ibanking to get an analyst position right after undergrad. That way they can find out if Ibanking is really for them. If not, fine, then at least you know and you can find something else you like to do. </p>
<p>Look at it this way. If you really are that extraordinary that you can get into an elite B-school right out of undergrad, then you may also be good enough to be one of those rare people who are able to jump from IB analyst right to associate without ever going to B-school at all. That way instead of paying to go to B-school, you'd actually be making money the whole time. And like I said, the worst case scenario is that you find out that you hate Ibanking, but at least now you know. It's better than going to B-school, then (hopefully) getting an IB associate job, and only then finding out that you hate it.</p>
<p>
[quote]
Why do people think they can get into a top 5 MBA program with no previous work experience?
[/quote]
</p>
<p>I don't think there is anything wrong with people asking for information. After all, there are some rare people who really do get in right after undergrad. Hence, I think it's natural for people to want to know whether they could be one of them.</p>
<p>"720 is still over 99%--so you and I are both wrong--me in saying 690 is 99th and you in saying 750 is 99th. Note that it also says 630 is over 90%--so I doubt that 690 is anywhere near 92%--probably closer to around 96-97% today."</p>
<p>I guarantee you that 720 is not over 99%ile. That website you linked me to said that actual percentages vary from year to year. I took the GMAT twice in 2004. Got a 690 the first time and it was marked as a 92nd %ile, and a 750 the second time and that was 99th. A buddy of mine took the GMAT a couple months later and got a 740 and that was a 98th %ile.</p>
<p>Scores tend to get higher over time, so I highly doubt that a 99th %ile score would drop 30 points in such a short period of time. If anything, a 750 today might be 98th %ile.</p>