Courtney Carvalho (Rice, ‘21) worked in asset management before deciding to pursue an MBA to broaden her business acumen and leadership capabilities. Through the help of MLT and other resources, Courtney made her way to Rice where she has appreciated the support and small class size of the Jones community. During this interview, Courtney shared her journey and the resources that were most helpful to her as an MBA applicant.
MBASchooled: What did you do before business school, and why did you choose to pursue an MBA?
Prior to business school, I was vice president of business development at Smith Graham Investment Advisors (SGIA), a boutique asset management firm in Houston. I worked directly with the president of the firm, specifically on raising capital and managing relationships for prospective and current clients. In addition to my role at SGIA, I worked on an initiative with a non-profit trade organization called the National Association of Securities Professionals (NASP) and the United States Agency for International Development (USAID). The initiative focused on facilitating U.S. institutional capital into private equity investments in Africa.
Through these experiences, I realized the tremendous influence institutional capital has on our society and wanted to help steward that capital into meaningful investments. I felt an MBA offered the optimal opportunity to both learn and enhance the skills necessary to achieve my goal. These skills included enhancing my financial knowledge, expanding my network, and strengthening my leadership capabilities.
MBASchooled: What was the hardest part of the MBA application process, and how did you work through it?
In my humble opinion, the entire application process was quite challenging. When I started the journey in 2017, I recall several MBA alumni mentioning that it was “easy” to get into a top program. I went into this process with that mentality, took the GMAT without any preparation, and was quickly humbled by the exam. After this experience, I signed up for Management Leadership for Tomorrow’s GMAT Coaching Program. Through this program, I was paired with a coach and met my amazing cohort. We were a sounding board for each other and after several years of hard work I was able to secure the testing score necessary to move onto the next phases of the application process, school selection and essays.
The essays, which in theory seem relatively simple, required an extraordinary amount of reflection and soul searching. They also vary by school, so it is important for candidates to know why they are applying to a particular school and to be able to tie that into their writing. To do this, you typically have to visit the campus which can get expensive. Additionally, if you are selected to interview, that will require another trip.
In summary, it can be a long and expensive application process and you have to be prepared for a number of highs and lows. The process builds character, and if you put in the effort you can reach your goal. I relied heavily on my MLT family. Their unwavering support and friendship played a significant role in keeping me motivated and ultimately getting into Rice.
MBASchooled: What are some things that helped you navigate the application and admissions process?
If you are just starting your MBA journey, I highly recommend joining a structured program like MLT and/or Forte. The depth and breadth of these programs are unparalleled. They will help guide you through the MBA process.
The key for me was finding a dedicated support group. If you are unable to join one of these programs, build your own team, and hold each other accountable. I met quite a few people that I still keep in touch with on gmatclub.com. I would also connect with current students and admissions officers. They are critical to learning about the program and setting expectations. Moreover, these individuals can potentially advocate on your behalf during the decision process.
MBASchooled: Most applicants understand why culture is important, and to look for it, but what specifically stood out to you about Rice?
As a prospective student, I knew Rice had a strong finance program, but I was blown away by the Rice family (because it truly is a family). As I mentioned, the application process was quite challenging. We, the students, make a huge commitment to the program. It is a relationship, and how you are treated in the beginning serves as an indicator of how you will be treated during the program and beyond. Early on, it was clear that the Rice admissions team, faculty, and students were invested in my success.
They made the admissions process smooth by setting clear expectations and devoting their time to answer all my questions. Additionally, I knew their smaller class size would provide me with the opportunity to have more facetime with the instructors and build strong relationships with my classmates.
MBASchooled: Due to COVID-19, MBA applicants know they need to engage virtually with schools to learn about them but what should they be looking to learn or looking to get out of those opportunities?
In short, I think applicants should look for the same school attributes they wanted prior to the pandemic. Although the MBA experience is two-years, it is a lifelong network.
MBASchooled: You are just about to start your MBA experience. What did you do leading up to starting school this summer? How did you prepare?
I know a big decision incoming MBA students wrestle with is when to quit their job. I decided to continue working until two weeks prior to matriculation. In addition to work, I had several other major commitments. Looking back, taking four to five weeks off to focus on MBA preparations would have been ideal.
Leading up to school, I participated in a self-paced MBA prep course called MBA Math. This course was a helpful refresher for finance and accounting. However, the majority of my “spare time” was devoted to deepening my understanding of my career aspirations. I started learning about different organizations and roles that I might find appealing. I connected with classmates both MBA21 and MBA22. I also attended early recruiting events, where I was able to network with potential employers and recruiters. These events afforded me the incredible opportunity to better understand the employment landscape and the skills necessary to secure a potential position.
Once school started, I was inundated with coursework and presented with a swath of choices from academic and social clubs to incredible professional opportunities. It was exciting, but also utterly overwhelming. I am beyond grateful to have started school with a clearer grasp on my career goals and, although it seems trivial, having an updated resume and cover letter was a huge help. I highly recommend using the summer to prepare for recruiting. The less students have to worry about during their first semester, the better off they are.
MBASchooled: Certainly COVID-19 is impacting all of us. How would you encourage prospective MBA applicants to evaluate this as they think about deciding to go to business school?
Business school provides students with the tools necessary to address real-world challenges. The COVID-19 pandemic forever changed the landscape in which people and businesses operate. Now, more than ever, there is a need to understand how to successfully handle disruption in our markets. The classroom is where students can apply their learning, receive instant feedback, and learn from their mistakes in a safe and fun environment.
MBASchooled: What advice do you have, for students who are considering applying or applying to MBA programs right now?
- Have a plan, build a support team, and (although easier said than done) embrace setbacks as opportunities to learn and grow.
- Be courageous. We tend to be our worst critic, and we often set limits to our success. If you want an MBA, just know – you are capable!
- Invest in yourself. Do not let financial constraints be the reason you did not pursue an MBA. There are a ton of resources, specifically for women and diverse candidates.