Thanks for taking the time to read this! I obviously have never been through the MBA application process before, and I know it’s still a ways off for me, but I was hoping to get some advice from people much more knowledgable about the process than I am as to how I can successfully prepare myself between now and then.
I just want to preface this by saying that Stanford has been my dream school for as long as I can remember. I was unfortunately rejected in my application as an undergrad, but that has not put a damper on my desire to go there for graduate school if possible. I am passionate about business, and, after working an awesome internship this past summer as a financial analyst for a startup educational technology company, I’m confident in my decision to pursue business as a career.
Background on me: I am currently an out-of-state first-semester Sophomore at the University of North Carolina at Chapel Hill. My GPA is 3.90, I am a member of the honors college, and I have just been accepted early as a major to the Kenan-Flagler Undergraduate Business Program. I am currently planning to double major in Business Administration (with a concentration in Finance) and Economics. I am also doing a minor through the Duke-UNC Philosophy, Politics, and Economics program.
My career plan is to go into investment banking for 3-5 years after undergrad, get an MBA, and then pursue a career in corporate finance. As far as my summers go, I was planning to go on one of Kenan-Flagler’s study abroad summer programs for the summer after my Sophomore year to acquire global business experience and then pursue a state-side internship with JP Morgan, GS, Merril Lynch, etc. for the summer after my junior year (and hopefully land a job with one of them after graduation).
I realize that Stanford is a longshot for any competitive applicant… It is far and away my first choice, but other top choices for MBA include HBS, Wharton, Berkeley Haas, UChicago Booth, and MIT Sloan. I was just wondering if any of you who have been through this process and are much more knowledgable than I could shed some light on how to make my application as competitive as possible in between now and when I apply and give me some advice on my current plan and if it needs adjusting to meet my goals. Thank you SO much!!!
OP said: I am currently planning to double major in Business Administration (with a concentration in Finance) and Economics. I am also doing a minor through the Duke-UNC Philosophy, Politics, and Economics program.
I am just curious that’s all. So, by graduation you will have double major and a minor? so three degrees? how do you maintain high GPA for all of them?
As far as I know, going top MBA like Stanford the like, you need at least two or three years of professional experiences and you have to show the progress. That is to say if you have an analyst job as entry level and are still doing the same job after three or four years in the job then it is not called progress at all.
My son is an engineer working for an aerospace company now and he got the job immediately upon graduation this past may 2016. He would like to take MBA at those top mba schools. He is doing like the CEO, majoring in Engineering EE and MBA-paid by the company. However, my son has to get years of experience working there and showing progress (career track records).
Anyhow, good luck to you and I like guys that have Vision and progress. May the Force be with you.
Thanks for your response! As to your question, I’m a very diligent student and have been able to maintain a high GPA thus far taking both business and economics courses… My goal is to leave undergrad with a 3.8+ GPA. If the coursework becomes unmanageable at any point, I will probably end up ditching the Econ major for the sake of my GPA.
And thank you for the advice regarding work experience! That seems like a common theme from what I’ve been reading that all top 10 MBA programs want to see fairly rapid upward movement in their few years of professional experience. No substitute for hard work!
Anyway, thanks for taking the time to reply, and best wishes to your son as well!
Congrats on getting into UNC’s business program. It’s a great program/
Your plan to go to a top MBA program - getting an elite internship, doing a summer abroad with a good firm, working as a banker for 3-5 years at a top firm - sounds like a fairly standard path into a top MBA program. The only other thing I could say is seek out leadership positions in college as well - and beyond if that makes sense.
I would also say don’t get so fixated on one particular university. You’re still 5-7 years out from actually applying and getting in.
During my undergrad I had a similar ambition, apply to a top-tier MBA just for the sake of it, and my suggestion is not rush the process. An MBA is not something you should think about until you have actually experience in the professional world, be it through internships or through a few years of professional work experience. Your career path can easily change from what you anticipate right now, as will your interests.
For some background, I too wanted to get into the investment banking when I was an undergrad because of the money and prestige or whatever. Post-grad, I found myself working in technology consulting for large government systems. Through the experience, I realized that I wanted to continue consulting for the public sector but wanted to focus on the strategy side which is why I decided to pursue my MBA.
Furthermore, while Stanford maybe your dream school, it might not be the best MBA for your goals. Investment Banking and Corporate Fiance tends to be focused on East Coast schools like Wharton, Columbia, Stern, etc. Make sure you research which programs will provide you with the best opportunities for what you want to do.
I do however suggest you take advantage of the time you have till graduation to prepare for the GMAT/GRE. If you can knock that task out right before you graduate or right after you graduate, it will make the process a million times easier. Right now you have a study mindset, 2 years post-grad that may not be the case.
I too would advocate you gain work experience and show advancement to set you apart from the other applicants. You need to demonstrate that your employer valued you above all others in your group. You definitely have the study ethic so now you need to prove you have the work ethic. Both are required to be demonstrated to enter a top MBA program.
The SA internship and post grad FT placement is going to be a huge factor in your acceptance to a target MBA program. Having a post graduate IB job from a top shop will significantly raise your chances. The obvious 3.5+ GPA a 700ish GMAT is also a necessity.