How to "evaluate" your "own" profile for "MBA applications". In
this session, we would be covering: the "common mistakes" that
the "students" commit in evaluating their own profile, the "factors
to be considered", the "resources to be used", and "wise use of statistics".
To begin with: the "common mistakes". Being "over-optimistic" is
one of the "most common mistakes". The "logic versus emotion"
battle. Being driven by "perception" rather than "facts".
Getting "too influenced" by "rankings" - the common notion that "I
will do it from top X, else I won't do an MBA."
What about the "learning"? The "sole reason" why you want to pursue
a "management degree" is the "learning" that you would get out
of it. The "desired profile" and all can eventually happen "when"
you have the "learning". If you "need" the "learning", you "need" the education;
thus, don't be too sensitive about rankings.
"Factors" to be "considered" in one's "profile evaluation".
"First" of all: "Academic acumen".
Yes, "MBA" is a "professional degree" and many other factors
matter, but "academics" have their own, due "weight". While evaluating
your "academic acumen",
you must look at your "GMAT score", "GPA", "professional or academic
certifications", "awards", "honors", and "scholarships" that are "academic" in
nature. Next aspect: "Professional maturity". The "Years of experience" that you
carry, "industry" in which you have your experience, your "functional
area", "performance" - "promotions", "quantifiable impact", etc.. The "exposure"
in terms of "roles" that you have donned, the "cultures" that
you have been a part of, the functional "domains" that you have been a part
of. "Stability" in your career - the number of "job switches"
and "average stay" per "organization" that you have worked for.
And, "very importantly", "leadership experience" - the "duration" and
the "scale" of it.
"Next factor" that you must consider is the "overall personality"
that you carry. "Communication", "interpersonal", and
"presentation" skills that you have. "Dimensions" in
the profile, in terms of "community service", "sports involvements",
"honorary" or "advisory" or "voluntary" roles, "cultural activities" that
you have been a part of, "arts", etc. "Leadership potential" -
very important. "Leadership experiences" thus far, in "and" beyond
the "professional context". Potential for "making an impact" in
the times ahead, and, therefore, "clarity" of your "goals"
and the "vision" for making an impact. Plan for leveraging your
experiences so far, "willingness" to bring about a "positive
change", an "idea",
if not a "plan" to bring about such a change. Here is a "glossary" of
"all the virtues" that "B schools" respect.
You may want to pause the video and "absorb" these. So far,
we covered all the aspects that you must consider while "evaluating"
your "profile".
Now,
we shall touch upon the "recommended resources" that you can
refer to. The "most rich resources" are the "websites" of the "schools"
that you are considering applying to - "pedagogy" of the
"programs", "program structure", "concentrations offered", "class
profile", "placement records" and "trends" as per "industry" and "domain"
that you are targeting. And "then", every school has an "ecosystem"
for "certain types" of "careers" that it is really good for. The
"ecosystem" can be determined from "extra resources", such as
the "student clubs", "centers of excellence", the "annual events"
that the school regularly hosts, etc.. "Rankings" are another
very rich resource. A "word of caution" here -
please take the "rankings" with a "pinch of salt";
don't get too "sentimental" about the same. Look for a "fit".
It's "quite possible" that a school may be "ranked" a bit "lower"
overall, "but" it may be a "very good fit" for "your career
plans". Another tip: please "avoid global rankings".
It is "not practically possible" to compare an "MBA program"
in "one country" with an "MBA program" in "another country" because
these dynamics change a lot with "geographies". So, identify the
"regions", and, then, look for rankings for "those particular regions".
We would be doing a "separate
video" only for "school shortlisting", where we would be elaborating
on this. For now, we would suggest that for "US schools",
look at the "US News rankings". For "European schools",
look at the "Financial Times Rankings".
Unfortunately, for "Canadian programs", "Asian programs", especially
the "Indian programs", or the "Australian programs",
there is no "one ranking" that we can suggest; we have our own rankings
on Experts Global website;
you may want to visit that. Next: a note on "wisely using" the statistics
that you will find on the "schools' websites" as well
as on the "rankings" - statistics around the average experience, GMAT, GPA, age, etc.
Please understand, the "medians" apply only if you represent the "median" candidature;
candidature, in terms of "work experience" - your "years", "industry",
"role", "nationality", "leadership quotient", "extra-curricular
activities". If you belong to an "over-represented pool", a pool from which a lot of candidates
apply, then the "competition" is going to be "higher" for you.
For example, if you are an "Indian" and that too within "engineering"
background, the competition for you is a lot "higher".
Therefore, the class "average statistics", such as the "average
GMAT" may not apply for you.
The "average score" of "Indians with engineering backgrounds"
in schools is a lot higher than what the "averages" suggest. Very often,
we get "queries" from the "Indian students", suggesting that the
"average GMAT score" of, let's say, "Harvard Business School" is
around "710 to 720"; therefore, if one has a "720" on the GMAT,
the "GMAT aspect" of the application is taken care of! "Improving on the GMAT" is not
going to "improve the chances of selection" - that understanding
is not correct.
If you come from an "over-represented pool", make the statistics
that you see, a "lot more competitive" for yourself.
Similarly, if your "profile" is very "different" from what you
see on the "average statistics", such as if your "years of experience"
are very distant from the "average years of experience" of the class,
whether on the "lower side" or on the "higher side", that is going
to be a "disadvantage".
For example, if the "average years of experience" is "5" and
you carry "2 years" of experience,
it is a "problem".
If you carry "10 years" of experience, that is also a "problem".
The "myth" that "extra years" of experience can "compensate" for
a "lower GMAT" or a "weaker profile"
otherwise is "NOT true".
Yes, having "4 to 5 years" of experience is better
than having "2 years" of experience for most programs.
But then, having "10 or 12 years" of experience is also going to
be a problem when the "average experience" of the class is
much lower.
Please evaluate your profile considering all these factors,
"wisely". This was the concept friends. To get a strong grasp over
the entire MBA applications process,
please watch all the 20-plus videos in this series.
Thanks for watching!