Why It’s Hard to Be a Poet in Business School

Make Studying FunOnce MBA classes start, they move very quickly, and although you’ll want to spend a lot of time outside of class trying to understand the new concepts you are learning, you won’t have much time. For someone who doesn’t have a strong quantitative background, taking statistics, accounting, and economics at the same time can be quite challenging. If you’ve never seen a financial statement or learned how to do derivatives, you might want to consider doing some work before you get to campus.

Take a look at what classes you’ll need to take over the course of your MBA program. These will likely be similar across programs, so you can figure out which classes will be most helpful for you to take at your local community college, extension program, or online before school begins. If you’ve never taken economics, pick up a book about demand curves and learn how businesses determine how much of a product to sell. If you haven’t taken a math class since your freshman year of college, take at least one before you get to campus.

With a basic understanding of statistics, accounting, and economics, you’ll be much more successful during your first year of school, and you’ll also be a great resource to your classmates who might be struggling a bit more than you. Recommended classes to take are business statistics, financial accounting, and microeconomics, but if you only find “accounting” or “statistics” courses, those will still be quite helpful.

Taking on extra quant-based coursework might seem like a daunting task while you’re working full time, studying for the GMAT, and writing essays for your business school applications, but it is definitely worthwhile – just think, you’ll be this busy if not busier in business school, so you might as well start now and learn how to manage your time. Those quant classes will also help you prep for the GMAT, so it’s really a win-win.

When you’re feeling overwhelmed during your first few weeks of school, just remember that you’re not alone. There will be a lot of people in your class who come from a humanities background, and you will still have a lot to offer your classmates, even if it is not through your accounting or statistics expertise.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Colleen Hill studied Middle Eastern and North African Studies at UCLA before heading to Michigan’s Ross School of Business to pursue international development consulting in Africa. She’s very happy she took accounting and statistics in the year before she moved to Ann Arbor.

Why Go to Business School: The Benefits of an MBA

Columbia UniversityWhy business school? This is a question encountered by many ambitious people who decide to pursue a master’s degree. Individuals in an MBA program take courses that deepen their knowledge of accounting, marketing, management, and finance. They also take classes that improve their leadership, communication, and problem-solving skills.

Acquiring this advanced level of knowledge and earning an MBA benefits a professional in the business world in a variety of ways. Check out some of the specific benefits of an MBA degree:

Gain More In-Depth Knowledge of Business
Why go to business school? In addition to expanding their knowledge of accounting, management, and other basic business practices, students who earn an MBA can specialize their degree. For instance, a professional who wants to achieve greater success in a public relations career can earn an MBA with a focus on that particular discipline. Other examples of MBA specialties include Internet marketing, hospitality management, and sports management. A student who earns an MBA walks away with a deeper understanding of their particular field of work.

Earn a Higher Salary
One of the most appealing benefits of an MBA is that it can lead to a higher salary. Someone with this advanced degree has a greater understanding of business practices than someone who possesses only an undergraduate degree. A person with an MBA has specialized skills and knowledge that can benefit a company’s bottom line.

Business schools have a number of requirements that applicants must fulfill. For one, they need to see a student’s scores on the GRE, the GMAT, or both. At Veritas Prep, we provide in-person and online instruction to prepare students for the GRE. We also help students study for the GMAT. Students learn tips and strategies from experienced instructors who have taken these tests with great success! Our tutors use excellent study resources and materials to provide students with first-rate instruction.

Establish Relationships and Garner Contacts
One of the most notable benefits of business school is the opportunity to establish relationships with other business professionals. While earning this advanced degree, students work with individuals like themselves who are likely to achieve tremendous success in their field. These relationships can continue to grow after graduation, proving helpful to an individual as they pursue success in business. Plus, students learn from professors who have relationships with executives in the business world. After graduation, a student may be able to get a recommendation from a professor or get a valuable lead on an open position with a growing company.

Often, well-known executives speak to classes of MBA students. They share their experiences and advice on how to accomplish career goals. Talking with a visiting executive gives a student another opportunity to establish a connection with a business professional that could prove useful later on.

Rise Higher in a Particular Field
Why go to business school? This is a question heard by many business professionals who decide to go back to school after working in their field for several years. One of the benefits of business school is that it gives graduates the knowledge and training they need to rise higher in their profession. They may feel that they have gone as far as they can with just an undergraduate degree in business and they need more skills to make further progress toward their career goals. For instance, a professional who has worked in the marketing department of a company for ten years might decide to earn an MBA with a specialty in Internet marketing. This could prepare them for a promotion to a higher position within the department.

Start a Business
Why business school for an entrepreneur? An entrepreneur who earns an MBA is more prepared for the challenges of starting a business. In fact, a student going through an MBA program can specialize the degree to focus on entrepreneurship. An MBA student specializing in entrepreneurship studies topics such as entrepreneurial finance, technology, and recognizing opportunities that will help a new business to grow. An entrepreneur armed with this knowledge is increasing their chances of success as a business owner.

At Veritas Prep, we assist individuals as they progress on the path toward gaining admission into a preferred business school. Contact our offices today to learn more about our test prep options.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTubeGoogle+ and Twitter.

3 Practical Life Lessons I Learned From My MBA

ProfessorDuring the last day of any MBA course, your professor will most likely say something along the lines of, “Years from now, if you can use one thing from my class, it would be…” Now I won’t be able to enumerate every single lesson I learned over my time at business school, but these lessons have become part of my mental toolkit, and always come to mind when I evaluate business odds or manage ambiguous human factors.

Here are three of the most useful life lessons that I became very aware of during my time in business school:

1) Build a buffer of time into your day
From my Operations Management course, I learned that in the manufacturing process, buffer zones or “slack time” are critical in ensuring that a delay in one part of production cannot easily cripple the whole chain. This concept has proven to be helpful now in managing day-to-day activities – rather than filling every hour of the day with minute tasks, it is more productive to identify key priorities and create some free time around them. This time can then be used to absorb tasks that unexpectedly take longer than you thought they would, or to spend as additional time for personal interests. Planning out the day like this can greatly reduce your stress and allow new ideas to ferment, making for a more productive and fulfilling life, long-term.

2) You can negotiate for more than you think
From my Negotiations course, I recall that I learned the most common error people make in their dealings is to take too many points as given or fixed and not even bother to try and negotiate them. Thus, they miss out on the potential to further benefit their own organization as well as the party they are negotiating with.

Being more aware of this tendency will encourage you to try negotiating for things you may not have tried for before, which will help open up more business opportunities and deepen your relationships with the people you work with. In addition, it is important to understand that the motivation of the person you are negotiating with is not always exactly the same as that of the unit he is representing, as this will help in the way you approach the conversation.

3) The creative process cannot be forced
In one of my Strategy classes, we discussed the creative process of Grammy Award-winning singer/songwriter Suzanne Vega, best known for her 1987 hit “Luka,” which raised awareness for domestic violence. In this case study, the singer was encountering writer’s block as she was creating her new album and found that to do her best work, she couldn’t be forced to grind it out in the recording studio as many musical artists do – living life and drawing inspiration and stimulation from everyday encounters was the best way to go.

I have found this lesson to be very applicable as I help guide MBA candidates through their business school applications. Applicants tend to maintain their better balance in their lives by continuing with their exercise, hobbies, and vacations, even as they prepare for the GMAT and the business school application process as a whole. Living full, normal lives will keep you refreshed and inspired to work at your peak performance level, and to deliver your best work possible.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Written by Edison Cu, a Veritas Prep Head Consultant for INSEAD.