Most Commonly Asked MBA Questions

Get your MBA application to top business schools right by knowing the answers to important questions in advance. Ross Geraghty takes a sample of the most commonly asked MBA questions. 

What are the best business schools according to different core MBA specializations?

The QS Global Recruiters - 100 Top Business Schools 2007 features the opinions of 489 international MBA recruiters and indicates which schools they rate by specialization. Full results here.

Core MBA Specialization

Top School (US unless indicated)

International management

INSEAD (France and Singapore)

Finance

The Wharton School

Marketing

The Kellogg School of Management

Information management

Sloan School of Management (MIT)

Operations management

Sloan School of Management (MIT)

Entrepreneurship

IE Business School (Spain)

e-Business

Sloan School of Management (MIT)

Strategy

Harvard Business School

Leadership

The Wharton School

Corporate governance

Harvard Business School

Remember, concepts of "best" business school may not be appropriate for every individual. There are unique aspects of each school that candidates will want to find out about. Then, there is the issue of funding a course, and the fact that top schools are extremely competitive to get into. A good way to research alternatives is QS Search and Scorecard, which allows candidates to identify a list of schools according to their own criteria, including school specialization. For example, a candidate wanting to find the best school for Marketing in Asia, with fees below US$30,000 per year, can do this on Scorecard. It's easy, free to register and well worth a look.

What's the difference between an EMBA and an MBA?

The MBA is a program designed to take graduates to the next stage of their career. It provides the entire range of core general management skills and knowledge (eg finance, strategy, marketing) that are required for business, though students can also take elective courses that are geared to their interests (eg entrepreneurship, ethics). MBAs are usually intense Full-time programs. Average participant age is around 28 (with at least 3-4 years of work experience) although there really is no age limit and some people take an MBA in their 40s. It is simply a question of showing the school that you are the right person to excel on their course.

Executive MBAs (EMBA) are designed for a more experienced age group, though it's difficult to assess an average age for EMBAs. Still a general business degree, it is for a more experienced executive who may not have had the opportunity to take an MBA before. A larger proportion of EMBA than MBA students have financial assistance from companies, and many take an EMBA to achieve a promotion, rather than to switch career. Most courses are part-time, incorporating evenings, weekends and distance learning. This allows the EMBA participant to continue working.

What are Specialized MBAs?

There are an increasing number of specialized MBAs, such as in Wine, Oil and Gas or Sports Management. However, debate still rages as to whether these MBAs are valuable to employers and it is always a good idea to find out from prospective employers what their opinions are before applying for one.

Simon Stockley, dean of the full time MBA at Tanaka Business School, says: We believe that the MBA is a general qualification and therefore an MBA in a subject is a contradiction in terms. At Tanaka, we feel people should think hard about the status of specialized MBAs and the message they send to employers, who still value a general MBA and, perhaps, question or don't value an MBA in anything. Alain Lempereur, a professor at ESSEC School of Management, where he teaches on both the Luxury Brand and Hotel Management MBAs, disagrees: Specialist MBAs allow less well-known schools to challenge the prevailing wisdom that schools that do well in macro-rankings are best at everything. It can be difficult for applicants to ascertain which schools are credible and which are simply jumping on the MBA bandwagon.

What's the difference between a one- and two-year program?

US schools tend to prefer two-year and European schools one-year programs, with a few exceptions (London Business School for example, allows you more freedom to time your MBA). A two-year course may allow an MBA to spend more time thinking about where he or she wants to go, to changing direction, and to developing ideas over a longer period of time. Naturally, two years out of the workplace and without earning, as well as the tuition and living costs, can add up to a more expensive experience, so budgetary concerns will vary.

One-year courses offer a shorter, sharper shock to the system. They are considered more heavyweight, in that students only have 12 months to cram everything in, but many graduates say they prefer this immersion method. It also means a return to the workplace more quickly and, therefore, perhaps, lower costs. There is no right or wrong length. Candidates must think carefully whether they want to take the time, and can afford the costs, that a two-year course entails or if they prefer to immerse themselves into a one-year course and get back to the workplace more quickly.

What am I going to do after my MBA?

Most MBAs begin with a rough idea of future career direction. Others start with one idea and change through their studies. Some argue that the US-style 2-year MBA program gives students more time to make such changes. Then, there are those who attend business school to get fresh perspectives.

Julia Bykhovskaia, from Russia, made such a switch in her ambitions: In 2001, I began the NYU Stern MBA program. I originally wanted to major in marketing, but later switched to finance. I worked at BNP Paribas, then as a research analyst at 2 small brokerages specializing in distressed debt. I currently work as a research analyst at a hedge fund specializing in distressed debt.

Candidates should pay careful attention, before applying to business school to the quality of the careers office, as this is important in helping find your ideal role on graduation. Find out which companies they attract to the school to meet MBAs. Find out what they will proactively do to assist MBAs to get into well-paid and satisfactory employment, and how quickly. This is especially important on the European-style one-year programs on which candidates often get in touch with campus career services in the first month of their MBA.

Every year, hundreds of MBAs take time to use their MBA for worthy causes in developing countries. It's good for getting great international work experience under your belt and most find the experience very rewarding.

How can I find out more about courses with strong CSR content?

Many recent surveys have indicated that MBAs are strongly considering employers with proven and established Corporate Social Responsibility (CSR) practices. The same is true for business schools, which are also beginning to realize the importance of CSR within their courses. Beyond Grey Pinstripes are leading the way in this field, producing rankings according to how MBA programs incorporate social and environmental issues into the training of future business leaders.