10.16.08 | No time like the present to get your M.B.A.
Unless you’ve been wedged under a rock for the past several months you are well aware that the world economy has been in turmoil. And as a byproduct of the economic downturn many are taking refuge in the classroom.
New York University’s Stern School of Business reported a 30% increase in attendance in off-site informational sessions. Northwestern University’s Kellogg School of Management has had a 22% increase in applications so far in ‘08 according to the Personal Journal. In fact, since June the amount of registered applicants taking the Graduate Management Admission Test (GMAT) has gone up by nearly 50%.
The problem is with all these students flooding the grad school market it is making it more difficult to get a seat. Schools, for the most part, are NOT increasing the amount of students they are accepting into their graduate programs. That means you quite literally need to come with your “A-game” to get into most of these programs. However, it’s not strictly based on GPA. Recommendation letters from professors, job experience, and extracurricular activities all factor in as well.
My recommendation is to apply to as many schools as possible. Strength in numbers is the way to go. Don’t limit yourself to just one state either. You may need to make some sacrifices, but it is well worth it. According to the U.S. Census Bureau those who hold a master’s degree make on average 21% more per year than those with only a bachelor’s degree.
If you are considering graduate school and need a grad plus loan (click here). For a private graduate loan (click here).
Obtaining an MBA is an investment in you. It’s hard work, but can pay off in the long run.
The Student Loan Help blog is sponsored in part by:
