What are my chances for an Ivy League MBA? And is it worth it??

Graduate School Business School - MBA
1

Hi everyone,

Currently, I am an UG Business Management student enrolled in an open-admission, non ranked university. My GPA stands at a 3.8 and will most likely rise to a 3.9 or high 3.8. I firmly believe that I can score 700+ on the GMAT, so for the sake of this of post lets assume that I will get it. :slight_smile:

I understand that MBA programs like students with management experience, and while I will attain that, does the company/firm that you work for matter? I plan to manage the family business, which is a small autobody shop for about a year until I want to pursue and MBA.

I am hopeful that an MBA from a high class institution will allow for some Wall Street oportunities to surface, or maybe even a fantastic job. The entrepreneurial route is also very tempting, and I believe that an MBA will make me more credible when speaking to companies and investors.

As you all may be aware, an MBA from a great instition opens a myriad of doors that will not be available to me with an UG degree from the school where I am currently at. For that reason, and also the fact that it has been a childhood dream to attend an Ivy League school, I am wondering if the dream is still alive for me?

If so, can you give me suggestions on how to study effectively for the GMAT, how to make my applciation more competitive, good things to have under my belt like extra curriculars, and overall any advice?

If not, can you explain why? Please be candid.

My last question, is it worth it to come out in debt 100k+ for an MBA from one of these institutuions? I see it as an investment, and what better investment is there to invest in oneself. I understand, however, that at times some investments are simply not be worth it.

Thank you all for your help,

Post scipt: I’d dream of attending MIT, Berkeley, Wharton, Harvard. Princeton, Stanford, etc.

2

Graduating with a 3.8 from an open admission, unranked school is not impressive.

That is not the type of experience that top MBA schools are looking for.

3

Some might be satisfied with that small business experience. After all, it can be multi-faceted. But you say you want to move into Wall Street (and via an Ivy.) Ordinary logic suggests some early experience in finance/investment.

4

Yes, I understand it is not impressive at all. However, will that completely butcher my chances? Or do business schools mostly focus on GPA (regardless of institution) and GMAT scores?

5

Generally, your work experience and its progression count most. Unlike law school, your GPA and GMAT are secondary though they like people who had work experience with reputable firms which means you would need a decent GPA from a reputable school.

6

@gmangini Since you asked to be candid, I’m going to summarize by saying you probably won’t be able to with your current credentials.

I don’t really understand how you can firmly believe you will get a 700+ on the GMAT when you follow by asking for GMAT study tips. How can you firmly believe you will perform well on a test that you have little familiarity with? To follow on this point, there are countless resources and guides for you to get a sense of the GMAT and how to best prepare. Asking on this forum would not be effective use of your time or our resources.

I phrase it as such because that process oriented mindset is very much a fundamental aspect of B school and the GMAT itself. Top ranked b-schools rarely admit solely based on undergraduate credentials and even in those rare instances it is in conjunction with exceptional internships. Admissions offices value professional experience because they are representative of your ability to perform in functionally vague environments with the ability to think under pressure. Your ability to perform in that type of environment proves to them that you can make something out of your MBA and create new opportunities for yourself and for others.

An MBA in and of itself is not valuable. The reason that many people state the large drop off in value outside of the top institutions is that your ability to create roi on your MBA is based on your ability to create opportunities with it. For this reason you have to prove to the admissions offices that you can do that and I don’t think that you returning to manage your family’s autobody shop is representative of that. You aren’t pushing yourself into an unfamiliar environment, to work with strangers, or to work with people who have different skill sets.

I have had previous undergraduate classmates that went into the family business and continued onto top b-schools but that was only after spending a year or two in a top tier professional work environment.

7

You do realize that half of these schools aren’t in the Ivy League, right? Princeton doesn’t even offer an MBA program.

No, you do not have a legitimate reason/background for an elite MBA. I would recommend looking into business programs at your state flagship university if you really want to pursue one.