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Can MBA Applicants Overcome a Low GPA?
Low GPA – Undergraduate
If you have an undergraduate GPA lower than a 3.0 (or B average) or a few low grades sprinkled into an otherwise spotless academic record, you have a hurdle to overcome when applying to MBA programs: convincing the admissions committee (the adcom) at the program of your choice that your performance as an undergraduate is not indicative of your ability to succeed in an MBA program.
The lower marks on your transcript need to come across as the result of immaturity and an accompanying lack of motivation to study (for any number of reasons). If you don’t acknowledge your low GPA, it could signal a lack of self-awareness indicative of continued immaturity to the adcom. Worse yet, a problematic transcript submitted without explanation or resolution could cause the adcom to question your academic ability even if your GMAT and other application materials are strong.
While it is difficult to overcome a low GPA, ignoring the fact of the matter is an illogical strategy.
Full Time MBA Vs Part Time MBA
First Steps
Deciding you need and want an MBA is the first step. From there, you’ll have to determine whether pursuing the degree full time best serves your purpose, or whether attending MBA courses part time is a better fit with your goals. Other factors to consider are part time vs full time MBA salary, as well as the respective admissions process for each. Continue reading…
Can a Regional MBA Program Help You Reach Your Goals?
Regional MBA’s Grow in Popularity
In September 2013, The Wall Street Journal reported that business schools in the U.S. received the highest volume of applications to MBA programs since a previous peak in 2009, at the start of the financial crisis. In 2009, applicants who may have struggled to find jobs in fields like finance and consulting sought to boost their résumés with an MBA as a means of increasing their appeal to employers. Fast-forward to 2013, and the reasons for applying have evolved, as have the programs. Regional MBA programs have increased in popularity. What’s their unique value? They prepare MBA students for regional specializations through specific coursework and access to invaluable local networks. Continue reading…
McDonough Prof. Appointed to MCL Panel
Lynn Doran, Professor at the McDonough School of Business, has been appointed as one of the 15 faculty panelist for discussing business education the 2015 Measuring College Learning (MCL) Project. The MCL is bringing together faculty from six critical fields of study — biology, business, communication, economics, history, and sociology — to reach consensus on how schools can effectively measure their students’ achievement. Continue reading…
Do Entrepreneurs Need an MBA?
Entrepreneurship has become a well-established feature of popular culture. Every Friday night in the U.S., ABC Network features Shark Tank, its hit show about everyday entrepreneurs approaching potential investors, seeking much needed capital and often receiving equally valuable advice. The entrepreneurs featured have many things in common, including a passion for their product or ideas and a palatable drive. What they often don’t have is an MBA and all that it provides. Continue reading…
Full-Time MBA
UT Austin Full-Time MBA Program Structure
UT Austin places emphasis on collaboration with others in its two-year, full-time MBA program. Before classes begin, students complete an MBA Orientation. This gives new students a chance to get to know the others who will be in their cohort. Upon arrival on campus, you’ll be carefully placed into a cohort—your MBA peers with whom you’ll navigate your first year’s core curriculum. McCombs focuses on creating a unique cohort experience by building variety through different cultural backgrounds, business concentrations and locations of each student.
Curriculum
The UT Austin full-time MBA curriculum at McCombs begins by giving each student the same fundamentals of business. This is done through the core classes, which provide a functional foundation of essential business skills like effective communication and cross-functional problem solving. It simultaneously encourages the student to customize their degree with flexible core elective requirements.
The electives can be used to focus on an academic concentration, but this is not required. There are 22 concentrations, all of which fall under one of the following areas:
– Accounting
– Business Government
– Finance
– Interdisciplinary
– Marketing
– Management
– Operations and Analytics
Dual degree options that allow students to receive an MBA, as well as another graduate degree from a different college within the University of Texas at Austin, are also available.
Class Profile
The 2021 Full-Time MBA class had 260 students, 40 percent of which identify as female. The average age of students in the class was 29. On average, students enrolled with an undergraduate GPA of 3.42, a GMAT score of 704, and 6 years of professional work experience. The average GRE score was 318.
Twenty percent of the 2021 Full-Time MBA class were international students, while 80 percent were U.S. based students. Twenty-nine percent of the class were underrepresented minorities. In terms of undergraduate majors, the most popular were business/economics at 33 percent, STEM at 31 percent, and humanities at 15 percent.
Career Statistics
The Full-Time MBA has been named Best Value by U.S. News & World Report. With the opportunity to earn six-figure starting salaries and healthy signing bonuses, earning an MBA degree from McCombs can be a great return on your investment. The median salary of UT Austin full-time MBA graduates is around $125,000 with a median signing bonus of $30,000.
McCombs full-time MBA students are provided career consultants who are available throughout the year to provide professional guidance and insight. Students also pair up with a Peer Advisor—a second-year Texas MBA student who was at your stage of career planning just a year before. In addition, as part of the Texas MBA+ Leadership program, students have access to communication and specialty coaches—i.e., seasoned experts who are ready to work with you one-on-one to refine your skills in communication, leadership, strategy, organizational culture, and much more. In student’s first semester, you will take “BA 181 – Strategic Career Planning,” a class designed to identify and begin developing your professional goals. Students perform a self-assessment, practice interviewing techniques, build out your personal brand and social media networking strategies, and learn how to research career options. Almost 400 different employers participate in our recruiting events—networking receptions, career fairs, on-campus recruiting sessions, etc.
Tuition, Scholarships, and Financial Aid
For the first year of the UT Austin full-time MBA at the McCombs School of Business, in-state students pay $51,020, and out-of-state students pay $56,572. In addition to the tuition cost, there are also the following fees: $14,048 for housing, $1,020 for books and supplies, $1,520 for transportation, $4,030 for personal expenses. The total cost of attendance for in-state, first-year students for the McCombs full-time MBA is $71,638 and $77,190 for out-of-state students.
The McCombs School of Business provides financial aid for their full-time MBA students including offering recruiting scholarship in the form of cash awards and out-of-state tuition waivers that range from $2,000 to full-tuition. Consortium members are considered for both McCombs-funded scholarship and fellowships as well as benefits offered through the Consortium for Graduate Study in Management. Lastly, McCombs is a proud partner of the Forte Foundation, Reaching OUT MBA and Teach for America. Theses scholarships can be combined with Fellows benefits.
Full-Time MBA students at McCombs are also eligible for both private and federal loans, which can help cover the total cost of attendance. Individuals can also apply for teaching and research assistantship positions, however these positions are limited. MBA students cannot take on teaching or research assistantships for more than 15 hours per week and do not gain in-state tuition by virtue of an assistantship. Students should take into account their mandatory 15-hours-per-semester course load when considering any assistantship.
Lastly, McCombs is a veteran-friendly program and provides financial aid through the Post-9/11 GI Bill and the Hazlewood Act.
Admissions for the Austin McCombs Full-Time MBA
The Austin McCombs Full-Time MBA enrolls annually with classes starting in August. The application cycle consists of three rounds, and rounds 1 & 2 are priority rounds for scholarships and fellowships. Below is a requirement checklist for admissions to the McCombs full-time MBA:
– Updated Resume
– Two Required Essays
– (1) Letter of Recommendation
– GMAT/GRE Test Scores (note – due to COVID-19, McCombs has provided a test waiver for applicants who qualify)
– TOEFL/IELTS (if international applicant)
– Official Transcripts
– Non-refundable $200 application fee
– Interview (if requested by school)
The application process can be completed on the school’s official website.
2021-2022 McCombs Full-Time MBA Application Deadlines
Applications are due no later than 11:59 p.m. CT on the day of the deadline for each round.
ROUND 1 (PRIORITY DEADLINE FOR SCHOLARSHIPS AND FELLOWSHIPS)
Application Due: October 12, 2021
Decision Delivered: December 16, 2021
Enrollment Deposit Deadline: February 3, 2022
ROUND 2
Application Due: January 6, 2022
Decision Delivered: March 24, 2022
Enrollment Deposit Deadline: April 26, 2022
ROUND 3
Application Due: March 29, 2022
Decision Delivered: May 5, 2022
Enrollment Deposit Deadline: May 17, 2022
Get an MBA Admissions Edge with the LiveWire Data Dashboard
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When to Get an MBA?
When applying to an MBA program, what you’ve accomplished in your professional career matters a great deal. Unlike virtually every other graduate program, including those in law, medicine, engineering, and so on, the most competitive MBA candidates (and the vast majority) don’t go directly from undergrad to an MBA program. First, they join the workforce. Continue reading…
Why Get an MBA?
Benefits of an MBA
There are four broad reasons to get an MBA degree: the technical and leadership skills you will learn, the opportunity to develop your career, the opportunity to network with people with similar interests, and the importance of the MBA credential.
The academic environment of an MBA Program would provide you with fundamental technical skills that are important for success in all types of businesses (large and small, nonprofit and for-profit). Business school would provide you with an understanding of Accounting, Entrepreneurship, Finance, Marketing, Operations Management, Organizational Behavior, and Economics that is important for all business decision makers. Continue reading…
Economist Forecast 2015 at Chicago Booth Economic Outlook Conference
Three respected economists– Randall S. Kroszner, Norman R. Bobins Professor of Economics; Austan D. Goolsbee, Robert P. Gwinn Professor of Economics; and Carl R. Tannenbaum, AB ’81, MBA ’84, senior vice president and chief economist at Northern Trust Corp.– offered their forecasts at the annual Chicago Booth Economic Outlook 2015. The conference drew more than 900 alumni and business people to the Sheraton Chicago Hotel and Towers on January 15. Continue reading…
Veteran Venture Capitalists Speak to Booth Students
“If I could go back in time [to become a student at Chicago Booth again], I’d try to meet everyone I could,” said Stuart Peterson, ’95, cofounder and senior partner at Artis Ventures, a San Francisco based venture capital firm has backed such companies as YouTube and Palantir Technologies. “Classmates will help you more than you think.”
Meanwhile, Jeff Sheedy, ’95, director of international marketing at Artis Ventures, believes that success isn’t only about a good idea, but also the people around you.
“Having a strong team gives you an ability to deal with adversity and allows for pivots,” he said.
BC Creates eBook for Evening MBA
The Admissions team at the Boston College Carroll School of Management has created an eBook for students interested in the evening MBA program. Prospective students can download this eBook for free. The eBook outlines questions that the admissions team feels that prospective students should ask when considering an evening MBA program.
Some of the topics discussed in the eBook are how to tell your employer your plan to attend school while continuing to work and what to look for in a MBA program. The eBook also outlines what prospective students should ask admissions offices before applying to any program for an MBA degree.
REGISTER: George Washington World Executive MBA Lunch and Classroom Session
Are you interested in George Washington University’s World Executive MBA program? If so, join the school and its admissions department for a Saturday lunch session where you can meet current WEMBA students, program faculty and university staff. After chatting over a bite to eat, prospective MBAs will have the opportunity to sit in on a WEMBA class session. This event is taking place on Saturday, January 17, 2015 at The Four Seasons Hotel Washington, D.C. from 12:30 – 3:00 PM. Continue reading…
Ageno Hosts Express Admissions Event
The next Express Admissions event at the Edward S. Ageno School of Business will be held Jan. 28, 2015 at 12 p.m. to 2 p.m. It will be held at the Golden Gate University campus. There is no cost to those who wish to attend.
Prospective students will have the opportunity to speak with Golden Gate University’s enrollment team. Prospective students can find out how to transfer credit, finance their education and complete an application. Prospective students should bring their transcripts from all previously attended higher education institutions and work with GGU staff to enroll in classes.
Sloan Student Creates High-Tech Luggage
Brian Chen, Sloan School of Management MBA ’16, is the founder of Bluesmart, a new high-tech luggage company. Bluesmart’s carry-on suitcase comes with location tracking, a digitally controlled lock, a built-in scale, a proximity sensor, and a battery for charging electronic devices.
Bluesmart was founded in 2013. The company grew out of a conversation two Argentinian entrepreneurs had over coffee one day in New York. Chen knew one of the two from working at Endeavor, a nonprofit that supports entrepreneurs in emerging markets. He soon found himself on a team of five working to develop a smarter suitcase. Bluesmart launched a crowdfunding effort in October through Indiegogo and the company has already raised $1.7 million.
Cass Business School Survey Paints Picture Of New Pension World
A majority of UK employees now expect to keep working beyond the age of 65 – or so says a new poll.
More than half of the 2,000 members of defined contribution (DC) schemes, interviewed in a nationwide survey conducted by YouGov, Aon Hewitt and Cass Business School, conceded they will work past age 65. Almost one in 10 claimed they will work into their 70s, while one in 50 said they will never retire.
Most workers also expect to draw a pension of less than half their salary, consigning the old expectation of two-thirds to history. The greatest number of people – nearly half – believed their pension pot will be between 21 and 50 per cent of their salary.
The shift in employee attitudes portrays a new sense of realism among employees about their retirement prospects.
“Members of employer sponsored DC schemes have grasped the harsh realities of the 21st century pensions world,” said the report’s co-author, Professor Andrew Clare of Cass Business School.
Other study findings, however, indicate that there are reachable solutions for addressing these issues. Said Sophia Singleton, DC Partner at Aon Hewitt: “Taken together, our survey reinforces the message for employers and trustees to engage more with their scheme members. Employers should consider providing tools to guide members with their pension choices, while trustees should consider how they could provide guidance and education.”
Click here for more detailed findings from this report.
Booth Alumnus Alvarez named CEO of Large Spanish Bank
Jose Antonio Alvarez, a member of Chicago Booth’s inaugural Executive MBA Program Europe class in Barcelona in ’96, has been named CEO of Banco Santander. Previously Alvarez held the position of CFO at the Spanish banking giant for more than a decade. His new appointment and role takes effect on the first day of the New Year. Continue reading…
Bauer Begins “Inspiring Minds” Series with Make-A-Wish Foundation CEO
University of Houston’s C.T. Bauer College of Business launched a new lecture series called “Inspiring Minds.” The series– held twice a year in the spring and fall– will be centered around a CEO, inventor, entrepreneur or political leader who is doing something inspiring on a national or international level. The lectures are open to Bauer students and alumni as well as to community members; a full description can be found in the school’s recent press release.
The first speaker in the series was Make-A-Wish President and CEO David Williams. Williams, a Pennsylvania native, moved to Houston in the early 1980s to pursue a career at Shell Oil Company. He left Shell 1983 to join the Houston Food Bank where he stayed for 11 years before moving on to Habitat for Humanity International. Continue reading…
Wharton SF Holds Entrepreneurs Summit
Wharton San Francisco will be holding the Entrepreneurs Summit. The summit will be held Dec. 10, 2014. The event will provide attendants with an outstanding educational experience combined with one of the best networking opportunities for entrepreneurs.
During the event, industry leaders will participate in three panels, speeches and breakout sessions that address issues affecting early stage, growth stage and industry leading entrepreneurial companies. Those who should attend the event include, current and prospective entrepreneurs, angel and venture investors, managers at emerging growth companies, lawyers, accountants and consultants working with entrepreneurs at all stages and board members and advisors.
