MBA in the U.S.A.

S TUDIES OF B USINESS A DMINISTRATION & M ANAGEMENT

About 300 American colleges and universities offer degree programs accredited by the American Assembly of Collegiate Schools of Business, for studies in business administration or management. These schools of business, business administration or management may be classified in two groups on the basis of admission requirements and degrees granted:

A. University/Undergraduate Study

Admissions requirements: completion of secondary school education. Degrees: B.A. or B.B.A. after 4 years. The curriculum combines liberal arts subjects and technical business training. Many schools in this category also have graduate programs leading to the Master's degree (M.S., MBA) or doctorate (Ph.D.), described below.

B. Post-University/Graduate Study

Admission requirements: completion of undergraduate study terminating in a B.A., B.S. or equivalent ("licence" - "licentiaat"). Graduate schools of business are open only to college or university graduates and confer advanced degrees:

The MBA - Master of Business Administration - provides a general approach to the study of management and a useful complement to earlier specialization in other fields. Generally a two-year program. The M.S. - The Master's degree is designed to provide a high level of competence in a specialized field for students holding Bachelor's degrees in business and related fields. There are several types of Master's:

M.S.B . = Master of Science in Business, M.S.B.A. = Master of Science in Business Administration, M.S.M. = Master of Science in Management, M.B.T. = Master of Business Taxation, M.I.M = Master of International Management, and the M.S.H.S.A = Master of Science in Health Services Administration.

The M.S. requires one to two years of study.

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Doctorates such as the Ph.D. (Doctor of Philosophy in Business) or the D.BA. (Doctor of Business Administration) are intended for persons planning to teach business at the postgraduate university level or to undertake advanced research. It is not necessary to do an MBA before the doctorate. Students may start a doctoral program after university studies (licence/licentiaat). Joint degrees, combining business with such subjects as journalism, law, international relations, architecture, public health, engineering and social work are sometimes possible, both at the Master's and doctorate levels, depending upon previous education and mastery of the English language.

C. MBA Program Components:

The primary degree is the MBA, the Master's degree in Business Administration, which has prestige throughout the international business world. Degree requirements and the length of the programs vary depending on the school. A full-time program generally takes two years, although some can be completed in one year.

The two-year program usually has three components: core, concentration, and elective courses. The first year consists of an intensive and integrated core program providing an introduction to fundamental business concepts. It includes courses in accounting, finance, ethics, entrepreneurship, applied economics, organizational behavior, marketing, quantitative analysis, computer science, and business policy. In the second year, students select concentrations in the areas of their interests. Concentrations are offered in all core areas and also in other fields such as international business, management, marketing, business law, personnel, labor management, etc. Or, students may design their own concentrations according to their special interests and the courses available.

D. Selecting an MBA Program:

In selecting an MBA program, prospective applicants may want to compare the teaching methods used by the individual business schools. Some schools favor the case-method approach (case-study), studying actual problems encountered by real corporations. This methodology is used extensively by many schools including: Harvard, Stanford, Wharton, Dartmouth, Virginia and Michigan. At the other pole is the quantitative and analytical approach, concentrating more on theory than on practice. This more traditional approach is quite common and involves attending lectures and extensive note-taking. Business schools known to place emphasis on theory are Chicago, M.I.T., Carnegie-Mellon and Indiana. A relatively new addition to business school’s teaching is the use of technology, computer simulations and in-company projects. Many business schools compromise in a balance between the various methodologies.

Please note that the MBA is basically professional training for students who have never studied business administration, so no particular field of undergraduate study is required. In fact, the percentage of students in MBA programs with first university degrees in business or applied economics is very low. Prospective applicants should, however, have had training in calculus (integral and differential), economic principles, and sometimes computer programming. Deficiencies in these areas may be overcome with "crash courses" often offered by business schools the summer before the program starts.

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It is recommended that you apply to six to eight programs. When consulting the various rankings for MBA programs, please remember that the number one program on the list may not be the right one for you. Consider very carefully what you want from a program and what program elements are the most important for you. It is important to keep your personal and professional goals in mind when choosing a MBA program. Admissions officers also stress the benefits of campus visits and they encourage potential students to visit their universities and have a personal introduction and interview. When you are making your decisions regarding which program to choose, it is helpful to speak to alumni and other students who have gone through the program.

E. MBA Admissions Factors include:

Application form Previous study Essays Letters of recommendation Professional experience GMAT and TOEFL/IELTS scores

Each of these factors is discussed below.

Application Form: The business schools' application forms are often quite lengthy, and require much thought as well as time to complete. It is important to answer all questions completely. After initial contact with some universities, you may receive a Preliminary Application for admission. If you wish to receive the final application forms in time, you must complete and return the preliminary form as soon as possible. Many business schools allow students to apply on-line. Applying on-line saves time and money (postage).

Previous Study: All business schools require candidates to hold a Bachelor's degree or its equivalent ("licentiaat" - "licence"). As stated above, it is not necessary to have studied business to be accepted into an MBA program. Your academic results are also an important element in your application. You will be asked to provide "transcripts", which are lists of courses taken, year by year, indicating the number of hours each course met, results in each course, and an explanation of the grading system. These documents must be prepared by or certified by your university. Any document not in English must be accompanied by an English translation which you may prepare yourself and have certified at the Commission for Educational Exchange.

Essay: Most business schools ask for at least one essay question involving self-evaluation. To give an example, the Stanford Business School asks you to discuss the following points: a situation in which you had significant responsibility and what you learned from it; your strengths and weaknesses in the areas of setting and achieving goals, and in working with other people; your career aspirations and why you have decided to enter an MBA program; and how you might contribute to the learning experience of others in the MBA program. Read the catalogs of each MBA program in order to see what their orientation is and to see what type of students they are looking for. It is essential that you answer these questions with great care, creativity and honesty, neither underselling nor overselling your character, abilities, ambitions and experiences.

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Your application forms can play a substantial part in the Admissions Offices' decisions, so try to make your essays not only informative but interesting to read. Each application should be typed, unless the form specifically requires it to be handwritten.

Letters of recommendation: You will usually be asked to supply the business schools' admissions officers with three references. They may be written by your lecturers, employers, or anyone else who KNOWS YOU WELL and who can comment on your intelligence and character, and on your potential ability to succeed in business school and in the business world. References must be sent directly by the persons recommending you, to arrive at the Admissions Offices before the application deadline.

Professional Experience: Most Business Schools give preference, other items being equal, to applicants with at least two years of full-time business or administrative experience! Students with experience in the business world are not only likely to gain more from the MBA curriculum than are inexperienced participants, but are also able to contribute more to class discussions and projects. They are also likely to be more attractive to potential employers than are MBA graduates with no firsthand experience of business. Business schools that are theoretical in orientation accept more readily students straight from university.

Test Scores: Most American business schools require students to take the Graduate Management Admission Test (GMAT), which is a 3½ hour computer adaptive test (CAT) measuring verbal, quantitative and analytical ability. The GMAT measures abilities that are associated with success at graduate schools of management and attempts to measure how quickly and accurately you understand and retain given material and solve problems there from. Questions are verbal, analytical and mathematical in nature. The essay writing component requires two pieces of analytical and persuasive writing. No knowledge of business is required. Scores range from 0 to 60 for each section (verbal and quantitative) and there is an overall scaled score for the entire test which ranges from 200 to 800. Test preparation books are available at our Commission and can be borrowed for a period of two-week intervals with a deposit of 25€. The universities recommend that students begin preparing for the GMAT at least one -to- two months in advance of the actual test date.

The GMAT can be taken at any time of the year in Brussels and in other cities around the world. It should be taken no later than December if applying for September admission. Complete information on the GMAT, including registration forms is available in the Advising Center of the Commission.

The GMAT may be taken several times, if desired, but since it measures aptitude, scores are not likely to change much by retaking it. Although the test can be repeated, taking it more than twice is usually not viewed positively by admissions officers. Business schools also have different policies in evaluating candidates with several GMAT scores: some may look at the most recent scores, or the best scores, or average them.

It is very important to remember that the results of the GMAT are only one element in your application. Admissions officers will be more interested in your academic results and work experience than in the results of this standardized test. In addition, admissions officers realize that foreign students generally have lower verbal scores than American students and consider this normal. On the other hand, foreign students usually score as well as Americans in the mathematical sections.

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Foreign candidates are required to have a thorough knowledge of English and must pass an English examination, generally the Test of English as a Foreign Language (TOEFL ibt) or the International English Language Testing System (IELTS). All American universities accept TOEFL but please check to see that they accept IELTS prior to enrolling to take the exam. Not all universities accept it. Each university indicates in their catalog which exam and what scores they require. Registration forms are available in the Commission's Advising Center. Books to prepare for these tests may be consulted in the Advising Center or borrowed with a deposit of 25€. It is also possible to buy the books at Waterstone’s bookstore: 71/75 Boulevard Adolph Maxlaan, B-1000 Brussels. Tel.: 219.27.08. A list of institutions that offer test preparation for these tests may also be obtained at the Commission.

When to Apply: It is very important to apply early. Some universities have only one deadline date, others have several different deadlines. Others still might have "rolling admissions", in which case applications are considered as they arrive. No application will be considered until it is complete, i.e., all the required documents have been received: application forms, application fee, academic results and diplomas with translations, letters of recommendation and test scores (GMAT, GRE and TOEFL). Since the best business schools receive thousands of applications each year, you should apply as early as possible and long before the official application deadline.

Financing: Most business students rely on a combination of loans, savings, and partial scholarships to finance their studies. Business schools rarely, if ever, award scholarships covering more than tuition, or even half-tuition, and assistantships are rare at the MBA level; the program is intensive and students are expected to devote their full time to their studies. Students applying directly to business school for financial aid are often required to submit a GAPSFAS (Graduate & Professional Schools Financial Aid Service) form, which can be obtained from GAPSFAS, Box 2614, Princeton, NJ O8541 USA.

A limited number of highly competitive partial scholarships are offered through the Commission for Educational Exchange to citizens of Belgium and Luxembourg. A list of these awards may be obtained from the Commission's Advising Center.

Below you will find suggestions on getting into business school and on filling out business school application forms. (From The Insider's Guide to the Top Ten Business Schools)

T EN T IPS ON GETTING INTO B USINESS S CHOOL

1) Make sure that business school is right for you.2) Get as much information as possible on the schools to which you are applying.3) Build up your university grade point average (academic results).4) Prepare and register for the GMAT and TOEFL/IELTS tests.5) Get a solid grounding in math, economics, and English.6) Pursue leadership roles in university and community activities.7) Apply early.8) Use any connections you have.9) Work for two to four years before you apply.

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10) Make the most of whatever opportunity you have in college or on a summer or regular job.

T EN T IPS ON FILLING OUT THE B USINESS S CHOOL A PPLICATIONS

1) Market yourself as a valuable addition to any MBA program.2) Be aggressive, both in style and content.3) Identify what you have done that is unusual, unique, or outstanding.4) Be justifiably proud of your accomplishments.5) Communicate that you are right for the school and the school is right for you.6) Keep essays short, interesting, and to the point.7) Make the application look professional: typed, neat and error free.8) Use professional references/recommendations and your network.9) Take your time and take it seriously.10) Be honest and candid.

For more detailed information, prospective applicants may consult programs for graduate study in business, as well as other reference books at the:

C O M M I S S I O N F O R E D U C A T I O N A L E X C H A N G E Between The United States of America, Belgium and Luxembourg

Royal Library, Boulevard de l'Empereur, 4, Keizerslaan, 1000 Brussels, BelgiumOpening hours: Monday-Thursday: 10:00 a.m. to 1:00 p.m. Tel: (02) 519.57.72 ∙ Fax: (02) 519.57.73 ∙ adviser@fulbright.be ∙ www.fulbright.be

04/2008

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