The best MBAs in the world receive thousands of applications annually, but admit between 7% and 25% of candidates. For example, in 2015, 22 of the top 25 MBA programs in the US rejected more than 1,000 applicants. 14 of these MBAs each rejected more than 2,000 applicants. Only these 25 programs sent 67,628 NO acceptance letters in 2015.
There are several mistakes that you can make to boycott your application and eliminate your chances of studying an MBA Top, however, there are three mistakes that are very common among MBA candidates and that are surprising.
The first big mistake is selecting the MBAs to apply to unrealistically. Many have the dream of entering a top university, but not all have the profile that the schools seek, or if they do, it is not healthy or intelligent not to take into account the admission percentages (the vast majority of candidates are rejected) . Applying to the most competitive MBAs, without also applying for admission to other programs, puts you at great risk of being left with nothing. Having a strategy is vital to get good results.
The second mistake is to downplay GRE or GMAT. Everyone has heard the story of the one who managed to get into Harvard with a low score, and every now and then the best programs do admit people with low scores, yet these people are truly extraordinary and they bring something just as extraordinary to the table. . If your score is low, and you have a very good profile, but you have not done something outstanding that distinguishes you from your competition, your real chances of admission will be just as low as your score.
Don’t see exams as an obstacle, but rather as your chance to shine and show.
Use your test score as a barometer to decide if the MBAs you are interested in are within reach. The programs are very transparent and clear, and include the average GRE or GMAT scores of admitted students. If you don’t have the average score, your score has to at least be close enough to average to have a chance of being admitted. All programs will ask you for a TOEFL score as well, if you don’t have the required minimum score, you are wasting your time and money applying. Better work on your scores, and apply in the next round or the next year.
The third mistake is not working on your profile: Believing that you can dedicate six or seven months of study to the GMAT, and two or three weeks to the rest of your application is one of the most serious mistakes you can make in your process. Candidates who achieve admission work on their profile, are advised on what activities or experiences to carry out, and make sure they are strategically choosing their recommenders. This process takes time, and if you do it in a few weeks, you will end up applying with what you have on hand at the time, and not necessarily with the best of circumstances.