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    MBA: Incremental Value

    I had an interesting discussion with a friend of mine the other day on which programs to apply to for an MBA.  If you have read my prior post you know that I am a fan of just going and getting the best GMAT score that you can; don’t worry about it too much.  Do your best and you’ll be fine.

    So, why do I think that just doing your best on the GMAT will lead you toward the right program?  The reason is quite simple actually.  You don’t take Calculus 3 when you have never had Calculus 1.

    While each individual has there own reasons to get an MBA, a common theme is to improve oneself – however you want to define that.  My thought is that your GMAT score will give you a good idea of where you will get in.  Don’t beat yourself up over getting into a top 10 school.  And, going back the the Calculus example, here’s why.

    If you apply yourself on the GMAT, and have no special conditions, you will have a score that – more or less – is an indication of your ability (yes, there are many exceptions).  That means that if you have a 500 level score, Harvard is probably not looking good.  But take a moment to think about it like a Calculus class.

    A student should not try and get in the most advanced class that they can get into with no regard to the level of their knowledge in the subject matter.   This we can all agree on but then some people hold a different standard to an MBA program.  The reality is that an individual new to calculus will get the same incremental value to themselves in a Calc 1 class as a more advanced person will get from a Calc 3 class.  If the goal is to improve yourself by X%, then both the Calc 1 student and the Calc 3 student will achieve their goals.  Either student going in the other’s class will make them fall short of their goal.

    Therefore, be realistic about what schools you can get into.  Don’t view a non-top 10 school as a failure or a shortcoming.  The goal of an MBA isn’t to get a top 10 school on your resume (or at least shouldn’t be the main goal).  The goal is to improve yourself.  There are many levels of ability which means that there are many levels of programs that will all give the same incremental benefit to the individual at all of the different levels.

    It is like the marathon I ran.  Just finishing was the goal.  I was happy with my time, but I’m sure an Olympic marathoner would not have been happy with that time.  The point is the same.  Different goals for different people.  A lower ranked school may be a better overall fit, and deliver more incremental value to the individual, than a top 10 school might.

    If you have found yourself discouraged about your GMAT score and the schools you might get into, maybe this gives you a fresh perspective.

    What do you think about a MBA program’s incremental value?

    This has been a Thought From The Cake Scraps.

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