Guidance for prospective MBA students

The Master of Business Administration (MBA) programme is regarded by many employers as the ‘gold standard’ of business, management and leadership training. A prestigious qualification, it’s designed for those who already possess industry experience and wish to extend their knowledge and skills of business organisation, management and practice.

What are the advantages of studying an MBA degree?

If you’re interested in enhancing your leadership credentials, expanding your business knowledge base, and accessing a global network of potential peers and partners, studying for an MBA degree may just be the answer.

Ways in which an MBA can boost your professional development and odds of future success:

• Better job opportunities and career advancement. Not only is an MBA likely to make you more attractive to potential employers during your job search, but it can also dramatically impact  your job prospects (as you qualify for a wide range of roles, particularly ones featuring greater responsibility and seniority). It can also boost your lifetime earning potential: the Graduate Management Admissions Council (GMAC) projected starting MBA salary figures for first jobs to be around $125,000 (£98,206) in 2023.
• Business and leadership expertise and insights. The ability to handle complex and challenging business situations  is a skill needed in every industry and business sector. An MBA will build on your existing skills and experience to prepare you to join the next generation of business leaders. MBA programmes provide in-depth grounding in all the fundamentals of business management, including: operations management, economics, business finance, marketing, international corporate strategy, people management, organisational behaviour, data analytics, and much more.
• Networking events and opportunities – MBA graduates are able to further develop existing business networks during their studies. You’ll be perfectly placed to  access  mentors and coaches, potential business partners, industry contacts, current students and MBA graduates, and business experts – all of whom could be invaluable from a business perspective, including future job offers, after you graduate.

Other benefits of studying for an MBA include gaining a global perspective, boosting your personal growth, meeting specific job criteria, and maximising your employability.

What makes a good MBA candidate?

No two potential MBA candidates are the same. It requires more than a strong CV and impressive exam scores to stand out from the competition and progress through the various stages of screening – and to thrive and fulfil your potential once you have a place on an MBA programme.

Certain characteristics and attributes can help applicants succeed in the world of MBA study:

• Strong leadership skills – to inspire others, act decisively, and help shape the direction that a business needs to follow
• Resilience and adaptability – to navigate emerging business challenges and adverse events, and identify opportunities for business growth
• Commitment to continuous learning – to continually invest in self-improvement, enhance personal skills and knowledge, and seek to evolve in line with business needs
• Intellectual curiosity – to possess a willingness to leave one’s comfort zone, accept that there may be better ways to think and operate, and stay curious and inspired about your industry or sector
• Interpersonal skills and emotional intelligence – to collaborate effectively with others and promote teamwork, communicate clearly, and engage and inspire all manner of stakeholders
• Critical-thinking and problem-solving capabilities – to ensure business decisions are evidence-based and valid, embrace technology and new ways of working, and press competitive advantage.

How can you prepare for an MBA?

First off, your MBA application will need to clearly and robustly evidence a variety of different factors: academic credentials and record, work experience in industry, and career goals and aspirations.

MBA admissions experts and recruiters, when asked by the Financial Times to share their top tips and insights related to successful MBA applications, shared the following:

• Research MBA programmes you’re interested in – It’s important to work out which one’s right for you. ‘Draw up a list of criteria and look at the priorities and choices [associated with each].’ Also, ‘don’t make the mistake of using the same application and trying to retrofit it; different schools have very different cultures.’
• Take the admissions tests seriously – Make sure you perform well on the MBA-specific tests, known as the GMAT or GRE. The GMAT ‘provides an objective measure when you have a very broad and diverse applicant pool’, as well as acting as ‘an on-ramp’ to the MBA to ensure that students can cope with the level of academic rigour.
• Demonstrate your real-world skills and experience – Highlight ‘how you’ve made an impact in your organisations, and how you’re leading projects or teams’, including any extracurricular activities that outline particular attributes and interests.
• Explain your intended career path, goals and aspirations. Clearly describe ‘what you’ve done, what you will do at the school, and what you hope to do in the future.’

Prospective MBA students were also encouraged to be ‘authentic’ in all stages of the application process, and opt for ‘simplicity, clarity and honesty [to] let personality shine through.’

How to choose the right MBA programme

What does your future career look like? Do you want to study at an institution in the UK, Europe, or somewhere else in the world? How flexible do you need your studies to be?

Not all MBA courses are the same, so it’s worth considering what you need from your own MBA career later down the line. For example, if, post-MBA, you’re looking to move into a specific area of business and industry, choosing an MBA specialism (also known as elective) that matches your career ambitions might be a good starting point. If the traditional, standalone executive MBA doesn’t quite fit your needs, common specialisms include entrepreneurship, finance, human resource management, healthcare, marketing, and operations management.

You may also weigh up factors including institution and programme ranking and reputation, accreditation, location, online MBA and in-person/on-campus MBA options, teaching methodology, faculty expertise and research strengths, alumni network, part-time, full-time and fully flexible options (including course length), and curriculum content. Additionally, programme costs should factor into your decision-making process as they can help you to identify what return on investment (ROI) you might expect.

How does the MBA admissions process work?

While many business schools and graduate schools present a single deadline to enrol for their graduate degrees, some MBA programmes work a little differently. As well as the initial tests, there may be multiple rounds of applications – generally accompanied by interviews – before the admissions team or committee make a decision.

What’s the MBA experience like?

Generally speaking, the MBA experience is characterised by a rigorous academic curriculum, exposure to real-world business challenges and situations, and collaborative group exercises and projects as well as individual coursework. Many programmes also feature internships, guest lectures and speakers, networking events, and ready access to a cohort of industry professionals. While the MBA can prove a fairly intensive period of study and steep learning curve, it serves to foster in you the skills needed to thrive in fast-paced, competitive and changeable business environments, and create a learning environment which supports your personal and professional growth.

Ready to start your MBA journey?

Whether you want to gain the skills to launch your own startup or land your dream full-time job within an existing organisation, Sheffield Hallam University’s online MBA programmes can help.

Take your business skills and acumen to the next level with a comprehensive, broad-based, and industry-relevant programme that will equip you to excel in business management and leadership. Plus, with 100% of your learning taking place online, you’ll have the freedom to balance your studies alongside your existing commitments for maximum flexibility.