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INTRODUCTION
Preparing to take the GMAT is an important no, a critical step toward the pursuit of the MBA, but it is only the start of the battle In the next several chapters, we ll help you determine where to apply, how to get in, what to do once you re there, and how to go about looking for a job
CHOOSING A SCHOOL: CONSIDERING YOUR OBJECTIVES
Your first requirement in picking a school is to know your objective Why are you applying Why do you want to study for the MBA All told, there are probably four main reasons for enduring two years of study for the MBA: $ You want to know how business works There are perfectly good reasons aside from wanting to earn money for seeking advanced education in management Charles Handy of London s Open University has described the MBA as virtually a prerequisite to being an effective manager of a commercial enterprise This is an overstatement, but there s a kernel of truth in it There aren t too many places where one can learn the finer points of queueing theory, the details of financial statement analysis, the importance of the F-test in statistics, and the ins and outs of the Buy-One-Get-One (BOGO) marketing ploy in just two short years How s that for a sales pitch $ You want to advance your career The MBA is hardly a prerequisite for success, but it certainly helps, and it has been getting more important in recent years Most MBA programs equip their graduates to understand how to deal with many of the important questions that their organizations will need to tackle over time, and that they will face in their careers So, if you find yourself in a meeting with a crowd of people 10 years your senior, you may find that you re the only one who actually knows how to unlever the discount rate, who understands what is really meant by supplier qualification, or who can make attractive PowerPoint slides in his sleep $ You want to make an obscene amount of money You ve looked at what you re making now, and at the starting salaries of those MBA graduates, and you ve decided that you re in Remember, though, that this is not a lottery: MBA programs spend a lot of time and money screening potential business managers, and those with the potential then spend a lot of time and money getting up to the high level of competence that is
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