Word around the block is that YOU’RE IN! Congratulations on being accepted to an MBA program (or programs)!!!!
What an incredible feat! We know that some of you may be at the tail end of a very difficult admissions process–you may feel elated, depressed, unconfident, or confused. All of those emotions are valid. Remember that MBAs are one of the most challenging graduate programs to be admitted to–so hats off to you!
At some point, the emotions subside and you’re left wondering, “should I accept?” So let’s dive in.
More information > less information
You may be deciding between several schools or deciding whether the admissions offer you received is the one you wanted. I know you thought that the networking would end after you got your admissions offer, but the truth is that it’s only the beginning. Now’s the time to talk to as many people as possible and attend as many in-person or virtual school informational events so that you can access all the information you need to make the right decision.
Review the details of your offer
In the excitement of getting admitted, it’s easy to gloss over the fine print. After you’ve finished calling all of your friends and mentors, make sure you make time to read your offer email and attached documents closely. This is especially important if you’ve received funding attached to your offer. Most importantly, add your offer acceptance deadlines to your calendar.
Attend admit weekends, admissions events, and visit the campus, if you can!
It might be difficult to travel to so many places in such a short window, but being on campus will give you irreplicable insight into the school’s culture and community. There’s something to be said about walking onto campus and into the building where your business school classes will be held.
Meticulously weigh your funding offer
Many of you may be wondering about scholarship funding–did you get any? Can you get any? Where would you even go to find out? Every school has a different process, so it’s most important to ask scholarship related questions to either the admissions team or to a student or alum in your network.
Some general scholarship request or negotiation rules:
- Typically, scholarship funding is mentioned in your admissions offer. If funding is not mentioned, you can follow up to inquire.
- It’s possible to speak with admissions about accessing or being allotted scholarship funding. Although admissions offices can assign funding, they can also share infor,mation about open scholarships they may know of or other funding opportunities at the university (part-time jobs on campus, funding for working as a TA, etc.)
- Negotiation is the name of the game. You’ll never know if the admissions would be willing to offer you (more) scholarship funding unless you ask! There are definitely unspoken rules for engagement so it’s important that you create a strategy before you dive into negotiations.
- A general rule of thumb is to only engage in scholarship negotiations if the school is a top consideration for you.
Here are some articles you might find helpful:
Negotiating Business School Scholarships – It Doesn’t Hurt to Ask – Vantage Point MBA
10 Ways to Ace Your Business School Scholarship Negotiation – MBA.com
Admissions Tip: Can I Negotiate A Scholarship for Business School? – Clear Admit
Reach out to 1-2 current students AND 1-2 alumni at each program
Current students will be able to share updates and insider tips that are not available on the school’s website. Push for 1-on-1 meetings so that you can ask questions in a safe space. Ask the school’s student ambassadors to connect you to people in their cohort that share your professional interests or other aspects that are important to you.
Alumni will be able to give you foresight into the ROI of that specific program. They’ll be able to tell you how the school’s brand holds up over time. They’ll be able to share how far the school has come–or how far it’s fallen.
Reach back out to students you connected with at each program
If you enjoyed your conversations with particular students or alumni during the admissions process, reach out to them and share with them the good news about your acceptance offers. I have found that students and alum are typically beyond excited to chat again and offer you their thoughts. It’s not unusual for them to ask you where else you’ve gotten in. If you feel comfortable sharing, it will help them give you sound and targeted advice.
Revisit your vision for Getting an MBA
Don’t let the anxiety get to you–you’ve been researching programs and talking to students/alum for months. If you haven’t already, jot down what you want personally, academically, and professionally from an MBA program. Does the program have the resources you were looking for?
Here are some articles with even more perspectives on how to evaluate your offer:
How to Decide Between MBA Programs – Stacy Blackman Consulting
MBA Admitted Students Guide: How To Choose The Right MBA Program – MBASchooled
Make Sense of MBA Admissions Decisions – MBASchooled
Okay, after all this–what happens if the offer isn’t right for you?
After going through all of your considerations, you may very well decide that the offer or offers you have in hand are not right for you. Let’s be clear–that’s perfectly okay. You only get an MBA once, after all.
Some gentle reminders:
- Rankings aren’t everything, but they can matter. As an MBA, you’ll likely discuss rankings at least once every year. In more competitive environments, those conversations will be more frequent. Rankings don’t matter for every job, but they do matter for some.
- Funding can be the difference between saying yes or no to a school you love. Oftentimes, there’s a fear around scholarship negotiations. The best-kept secret is that asking for more funding is actually quite typical! You got this. Get what you deserve.
- If none of your offers feel right, it’s perfectly okay to give the process another go and re-apply.
- It’s also okay to end up going somewhere you never expected you’d go. If you see yourself thriving on campus, it’s a viable option.
Bonus! Here’s an MBAInsider podcast episode on what to do once you get in to B School:
#145: What to Do After You Get Accepted to Business School – MBAInsider
PHEW! So much information, so little time. Choosing your MBA program is an incredibly important decision. I firmly believe that whatever decision you make will be right for you.
Stay tuned for our next article on how to maximize your summer before starting an MBA program!
Join the MBASchooled Community to get our content emailed directly to you! Word around the block is we have the next part of this series coming soon.
Until then!
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