You may have certain preconceptions around applying for an MBA. Here are some of the myths and realities around your MBA application
Applying for an MBA can be a daunting process. With dozens of steps to take before you’re admitted, you may look for advice and information along the way. But not everything you read will be trustworthy. We spoke to Shelly Heinrich, dean of MBA admissions at Georgetown University’s McDonough School of Business, to dig into some of MBA application myths, and where the truth really lies.
Myth 1: You need a business background to apply for an MBA
If you’re applying without a business bachelor’s or traditional business work experience, you may fear you’re at a disadvantage to other candidates.
On the contrary, this could be what distinguishes you. Admissions teams look for candidates from a broad range of industries and backgrounds to fill the MBA classroom.
“The thing that makes an MBA classroom so rich is having diverging and diverse viewpoints,” Shelly says.
In the Georgetown MBA, just a quarter (26%) of the class has a business bachelor’s degree. Engineering (13%), maths & physical sciences (16%), and humanities (10%) undergraduates make up a strong proportion of the class.
Myth 2: Your GMAT or GRE score outweighs the rest of your application
You may spend months trying to perfect your GMAT or GRE score: but when it comes to it, you can’t get it over the average score of your target schools.
While getting a good test score is important, it’s not the be all and end all for schools. Shelly says top schools like Georgetown McDonough have a holistic approach to reviewing your application, evaluating your overall fit, as well as your work experience and undergraduate GPA.
Rather than comparing yourself to the average GMAT of your target school, Shelly advises you look at the 80th percentile range (which most schools release on their websites). At Georgetown, this is 650 to 720: if you fit into this, it’s worth applying.
Myth 3: There’s no point applying in rounds three or four
If you’ve left your application until later on in the year, when the majority of the MBA class has been filled, you might not think it’s worth applying.
It’s a myth to say that you don’t stand a chance. Schools deliberately keep seats available for top level candidates applying in the later rounds: even if you don’t make it, but you’re still a strong applicant, they’ll just tell you to apply next year. And, Shelly says Georgetown loves reapplicants; it shows the admissions committee they are truly focused on McDonough.
The same goes for scholarships: while most of the budget will be allocated, there is still typically funding for candidates applying later on.
International applicants to the US may want to leave more time for their applications, for visa reasons. “We’ve seen how visa applications are out of your control, and out of your school's control,” Shelly says. Even if you are accepted, but your visa doesn’t come through in time, most schools will help you defer your application until next year.
Myth 4: If you get rejected, there’s no point reapplying
If your application gets rejected, don’t despair: apply again next year! This will show your determination to get into that particular school.
Shelly says she speaks to dozens of candidates every year who don’t feel reapplying will do them any favors. “This couldn’t be further from the truth,” she says, “These are highly qualified candidates, but we’ve just run out of spots.”
Use your reapplication to dwell on some of the gaps or weaknesses in your application, and come back next year a stronger, more determined candidate.
Myth 5: You should only apply for an MBA if you want a corporate job
Consulting, finance, and technology draw in the majority of MBA graduates. At Georgetown, this is no different: these top three industries employ around 75% of MBAs.
That doesn’t close off the possibility of any other career. At Georgetown, 6% of students take social impact or non-profit jobs; a further 6% go into real estate. Given the school’s proximity to Washington DC, it’s no surprise that 1% go into government or public sector jobs.
Whatever sector you choose, MBA students are well-positioned to apply their broad skill set to transform departments and companies.
Myth 6: If you can’t afford an MBA, don’t apply
The cost of an MBA is a significant factor for many applicants, but it shouldn’t be a reason not to apply.
There are a number of ways to fund your studies. Merit and diversity scholarships are available to students with exceptional academics or from certain backgrounds. Around 43% of full time Georgetown MBA students are awarded funding, with over $1.5 million available.
Most MBA students at Georgetown also do paid summer internships, earning on average $7800 a month.
You’re also better placed to pay back your loans once you graduate. Georgetown MBA graduates receive an average signing bonus of $34,707, which can make a dent in your student debt. And don’t forget the impressive salary increases you’re likely to see: Georgetown MBA graduates earn around $161,000 annually within three years.
“View your MBA as an investment that will appreciate. It will open doors in the short term and long term that you may not have got as quickly otherwise,” Shelly says.
Whether you’re applying late in round four or early in round one, make sure you have all the right information available to you. And if it feels like the right time to apply, then don’t let the myths and rumors put you off.
Student Reviews
Georgetown: McDonough School of Business
GWU - excellent investment for future
George Washington University is a good respected institution with strong programs in various studies, including project management, international affairs, politics, medicine and etc. The university provides students with good opportunities for internships and networking.
GWU has a diverse student body and a reputation for academic excellence.
Safety on campus
I have had an amazing experience at Georgetown University. The classes are enjoyable, the professors are exceptional, and I feel like I am receiving a worthwhile education. The people and faculty at this institution are extraordinary, and I have discovered my true self while being here. Additionally, I always feel secure on campus, as it is the safest place in town.
Georgetown is on top!
I've been enjoying this school so far. I wouldn't alter it, despite the fact that the school is on a hill and that it requires a lot of walking to get around it. For minority and first-generation students, there are a ton of services available. Even though the usual dorm rooms are modest, there is still plenty of area for storage. We have a ton of alternatives every day in the dining halls since they provide so many different dishes from so many different cultures
Physical and mental health
Georgetown is my second home. The pre-professional counselors are incredibly helpful, and I feel supported and inspired to pursue my aspirations. We are certainly ranked as the top research university in the nation. They place a high priority on the development of the students as well as their physical and mental well-being.
Wonderful university
Georgetown University is wonderful. The school's amazing diversity is one of its greatest strengths. The athletes are extremely committed to their sport, and the campus is amazing. The dorms are excellent! They are comfortable and spacious. If you ever find yourself bored on campus, you can always go off campus; it's fantastic. You'll never get bored dining in the cafeteria because the food is so delicious on campus.
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Fantastic university
Georgetown university is a Fantastic university. The professors are outstanding, there are lots of ways to participate in campus life, and there are numerous groups and organizations where students can get involved. The campus is lovely and always kept clean, and there are people are willing to assist you 24 hours a day whenever you need help.
Review of Georgetown university
Being at Georgetown university has been one of my best experiences. The Professors are knowledgeable, approachable, and very helpful. You will fall in love with Georgetown because of its daily activities, the vibrant students you will encounter, the food served on campus, and the lush surroundings. The housing and dorms are fantastic. There is no better place than Georgetown University if you’re looking to study, discover new things, make lifelong friends, and have fun!
Academically challenging institution
Georgetown University is certainly an academically challenging institution, however, if you ask for assistance when you need it, the workload can be managed. Students are happy to assist one another, and most Professor want you to succeed. Student life is vibrant, the location is excellent and everyone here is friendly and welcoming.
4 Years as an Expat at Georgetown University
Georgetown University provided an exceptional environment for my academic journey as an expat from Italy. As someone who initially felt apprehensive about moving to a new country, Georgetown quickly alleviated my concerns and made my transition incredibly smooth.
One of the standout features of Georgetown is its diverse and welcoming community, particularly for international students. The campus is teeming with students from various corners of the globe, fostering a rich cultural tapestry that made me feel right at home. The vibrant campus life and numerous extracurricular activities offered ample opportunities to connect with fellow students, ensuring a well-rounded and fulfilling university experience.
Georgetown's unique setting within the heart of Washington, DC, adds another layer to its charm. While the university is situated in the bustling city, the campus in the historic area of Georgetown provides a distinct and almost intimate atmosphere. This blend creates a truly unique feel and contributes to an unforgettable educational experience.
Initially enrolled in the College with a desire to major in Linguistics and minor in Art & Journalism, I appreciated the flexibility and openness of the Georgetown education system. After my freshman year, I discovered my true passion lay in Marketing and International Business. The university's seamless transfer process allowed me to transition to the McDonough Business School, where I found the perfect fit for my academic aspirations.
Georgetown's commitment to helping students explore and find their academic niche is indeed one of its most commendable qualities. The ability to explore various subjects before settling on a major is a testament to the university's dedication to fostering individual growth and success. The journey from Linguistics to Marketing & International Business exemplifies the beauty of a Georgetown education — a dynamic and supportive environment where students can discover and pursue their true passions.
In conclusion, Georgetown University provided not only a top-notch academic education but also a transformative and enriching experience. From the welcoming international community to the unique campus setting and the flexibility to explore diverse academic paths, Georgetown stands out as a beacon of higher education that truly caters to the individual journey of each student.
