Business School
When To Attend Business School
The
question of when to attend business school is being asked by more and more
students interested in careers in business. There are valid reasons for both
entering business school the fall after graduation and for postponing entry for
several years. We will outline the benefits and drawbacks of each briefly here.
We would also be happy to discuss your individual circumstances with you to help
you make an informed decision.
Go Directly to Business School:
Entering
business school immediately upon graduation has certain advantages. It will
allow you to enter the job market two years later at a far higher salary than
you could command with your B.A. In most cases, your salary will be higher than
if you had been working for a similar period of time. Furthermore, with business
school costs rising each year, your MBA will cost less than it would two or
three years later.
Gain Experience, then go to Business School:
On
the other hand, many students, especially those at schools emphasizing the case
study approach, find they lack the work experience needed to gain the most from
their courses. You may not feel comfortable in a class which is largely older
and more experienced than yourself. Also, the initial income you realize with
your MBA may not be as much as if you had worked prior to earning it. You may
also find adding business school debts directly to undergraduate school debts is
burdensome.
The
benefits of postponing business school entry have been mentioned above. Work
experience can give you a perspective on business school unavailable to the
undergraduate. You will have several years to focus your interests and learn the
language of the business world. You will be a more attractive candidate to many
schools and in some cases, your undergraduate record will become less important
in the admission process. Your initial salary after receiving your MBA will be
higher than it would be if you had not gained experience. Furthermore, you may
be in a better position to finance your study.
The
drawbacks of postponed business school attendance are essentially monetary ones.
Tuition and living costs rise every year you delay graduate study. In some
cases, the life of a student is hard to adjust to after having been a wage
earner. The loss of income and large outlay of cash may seem burdensome if you
are used to a comfortable salary. However, it should be noted that the first two
years of work often bring large expenses such as a car and student loans and you
may not find the adjustment so radical. If you are delaying graduate school only
to save money, you should consider quite seriously the expenses you will face.
You may not be able to save as much as you had thought.
Whether
or not you delay business school may be influenced by your choice of school. As
previously mentioned, some business schools are seeking students with
considerable work experience or strong evidence of leadership. Other schools
make no statements on the topic and still others are less interested in previous
work experience as long as the potential for success is clear. To get an idea of
how important work experience may be in admission to a particular school you can
look at the average age of an entering class. If it is over 25, there is reason
to believe most students will have had experience. Some schools offer statistics
on the composition of their classes; for others you will have to ask. In
business school you will learn much from your classmates and from professional
relationships which could span your careers; it may be wise to determine just
who your classmates might be.
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