Making the Cut

When the economy heads south, applications for MBA programs start creeping north, and that’s holding true in this recession. Some look for a degree that will position them for a job change or promotion when a rebound does come.

According to the Virginia-based Graduate Management Admission Council (GMAC), an international organization of graduate business schools, nearly eight in 10 full-time MBA programs reported receiving more applications in the 2008–2009 cycle than the year prior. That’s the largest segment of programs in the past five years and the second largest proportion to report an increase since the survey’s inception in 2000.

Another barometer of interest in MBA programs is the number of people taking the graduate management admissions test (GMAT). GMATs taken increased by 12 percent from July 2007 to July 2008, according to the council’s study.

If you’re among those considering an MBA degree, you’re likely wondering what it takes to get accepted. There are some common standards that can help you begin planning for what is a multi-faceted application process.

The Big Four Criteria

Admissions criteria for graduate business schools generally cover four main areas:

• Transcripts and grade point average (GPA) from your undergraduate education

• GMAT score

• Letters of recommendation from professional references

• Personal goals essays that ask you to describe, among other things, reasons for wanting an MBA from the targeted school.

Most MBA programs also seek candidates with at least two years of professional work experience, because programs often feature real-world consulting and experiential learning projects.

Once you’re deemed worthy in these four areas, the final step is a personal interview with an admissions committee, or often just an MBA programs director.

Standards vary, of course. While most accredited schools require the GMAT, others make the test optional if other criteria have been met or certain prerequisite courses in math or writing skills are taken. Most schools require an undergraduate GPA of 3.0, but others use 2.7 as a threshold. And some MBA programs place a bigger emphasis on evidence of leadership, teamwork skills, and a pattern of achievement in an applicant’s work history.

In all cases, the sum of the parts usually distinguishes successful applicants. Someone who writes an impressive goals essay, has sterling recommendations, and a strong undergrad GPA might gain admission even if her GMAT score is average. MBA program directors stress that the GMAT isn’t “passed” in the traditional sense; there is no score that guarantees admission into a program. Many schools do have minimum scores, but they are rarely published.