Ideally you should take the GMAT or GRE along with TOEFL or EILTS for English language proficiency by June / July of the year proceeding the admissions year, certainly not later than Sept/October.TIME LINES with all milestones, to apply for MS / MBA based on GRE/GMAT in the US is given under
Activity Chart Suggested timelines to be comfortable for GRAD SCHOOLS |
||||||||||||
Year/Month |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
YEAR preceding admission/ commencement of course |
|
|
|
|
|
|
Take
Start ESSAYS |
|
Univ/prog
Retake GRE/ GMAT if needed |
Engage with inspiring Prof if keen on research Apply for WES credentials if any school requires |
Check all scholarships available, requirements,
Get all your undergrad transcripts in place Get all your SOPs, ESSAYS, LORs in place |
Finish all online Applications fromalities Send application packets |
YEAR of admission/ commencement of course |
Follow up and reconfirm the status of your application and materials received at the schools |
Complete all your financial documentation |
Receive the good news of results from Universities |
Submit your fin docs for I20 |
Finalize your school Apply Edu loans Complete Visa formalities |
|
Arrive at the UNIV campus early to check any financial assistance possible, to get comfortable Start your
|
|
|
|
|
Broadly the MBA programs that accept the GMAT scores can be classified into three based on :
The programs are :
Program |
Minimum years of experience |
MIM (Masters In Management) |
0-2 years work experience expected |
Global MBA program |
2-7 yrs of work experience |
Executive MBA / Sloan Program : |
Experience of 8 yrs and above |
A few of the sought-after MIM programs with details are here under. Almost every good university offers the MIM program in Europe and you could select yours based on the course structure and coverage and the fees that you can afford.
Name of the University |
Country |
Duration (months) |
Test Required |
Course Fees |
Intake |
Universitat St Gallen |
Switzerland |
18 Months |
GMAT for International Management. GRE for Economics and Finance. |
CHF 8504 |
September |
HEC Paris |
France |
18 Months |
GMAT |
Euro - 17500 |
January and September |
EM Lyon Business School |
France |
18 Months |
GMAT |
Euro - 18000 |
September |
Essec Business School |
France |
18 Months |
GMAT |
Euro - 38000 |
September |
Grenoble Graduate School of Business |
France, Singapore |
12 Months |
GMAT / TOEFL |
Euro - 17900 |
January and September |
Rotterdam School of Management, Erasmus University |
Netherlands |
16 Months |
GMAT / IELTS |
Euro - 15500 |
Mid August. |
This is the most sought-after program, especially aspirants with work-experience wishes to go to the IVY league universities as they are called
A few of the sought-after universities with details looked for, include :
University |
COUNTRY |
TEST REQUIRED |
Application
|
COURSE FEE |
DURATION |
Harvard Business School |
US |
GMAT / GRE & TOEFL |
Sep / Jan / April |
US $53500 |
24 Months |
Stanford Graduate School of Business |
US |
GMAT / GRE & TOEFL |
October / January / April |
US$ 57300 |
24 Months |
University of Pennsylvania : Wharton |
US |
GMAT / GRE & TOEFL |
October / January / March |
US $ 62034 |
24 Months |
London Business School |
UK |
GMAT and TOEFL / IELTS |
October / January / February / April |
GBP 57500 |
15 - 21 months |
Columbia Business School |
US |
GMAT / GRE & TOEFL |
August /
|
Us $ 58384 |
24 Months |
Insead |
FRANCE / SINGAPORE |
GMAT & TOEFL / IELTS |
October / December / March |
Euro - 59500 |
10 months |
University of Chicago: Booth |
US |
GMAT / GRE & TOEFL. |
October / January / April |
US $ 56000 |
21 months |
An executive MBA program is meant for people who have had considerable years of experience and are in the middle-management cadre in an organization and want to sharpen their existing skill sets.
There are many such programs.A few are here under with the information available (year 2013-14) as indicative -
Details |
MIT Sloan |
Stanford Graduate School of Business |
London Business School |
Minimum experience |
10 years. |
8 years. |
12 years |
Average experience |
14 years. |
11 years |
16 years. |
Class size |
110 |
82 |
50 |
International Students |
38% |
25% |
27% |
Tuition fees |
$ 1, 25,500. |
$ 1,08,000. |
GBP 49,000 |
Degree |
MBA or MSc in Management. |
MSc in Management. |
MSc in Leadership and Strategy |
GMAT |
720 plus. ( Not always necessary.) |
700 plus. |
650 plus. |
Deadline |
October, December. |
November . However they do accept students till the class is filled. |
February, May, June. |
Companies |
McKinsey & Company , Amazon, Boston Consulting Group, Bain & Company, Google, |
Deloitte Consulting LLP, Coca Cola Company, Credit Suisse, Intel Corporation, Morgan Stanley, SAP VENTURES, Nike, Inc, New York Times Company, McKinsey & Company |
Deloitte, Amazon, Accenture, Ernst& Young, GE medical, J.P Morgan, Infosys, TCS, Telefonica, Morgan Stanley |
Salaries |
$185000 |
$ 170000 |
GBP - 120000 |
As per the information published on GMAC’s website mba.com, there are over 200 Indian business schools that accept GMAT scores; the following are a few of the top B-schools in India worth mentioning that accept GMAT scores. For more schools, visit mba.com of GMAC that is the conducting body of GMAT.Apart from IIMs - Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode, Ranchi, Rohtak, Shillong, Trichy, Udaipur, Raipur
In the Indian business schools, aspirants without work-ex are found in plenty. The best of the schools abroad also offer admissions for exceptional fresh undergrads based on their profile.
But there are programs that offer students in the final year of under-graduation secure admissions into the future batches. These programs have gained popularity over the last 4-5 years especially with students in India.
The following are a few such programs that offer final year college students a guaranteed seat in a future class
You need to take GMAT and based on the score apply for the programs. You will be interviewed and offered admission for a future batch, a couple of years down the line, to join after gaining experience to appreciate the program.
Though there are no hard and fast rules here, the broad insights available through eminent professors who have been part of the admissions committees, including one who is an advisor at CL, is as follows :
So it is important to note here that the GRE or GMAT scores may carry about 30% weightage, but work-experience, the essays and SOP/LORs and also any outstanding work like publishing research papers and other productive activities can really build ones profile. Even if you scores are in the highest percentiles, it always makes sense to work towards your goal by gaining relevant experience while in the under-graduate course.
Yes, the costs when we look in Indian currency may look higher but the returns are manifold. Even in best of the Indian institutions like IIMs you may end up paying about 20 lakhs and in an ISB about 30 lakhs which are not far from those charged by universities abroad. Let us look at the placement information available for few universities for the year 2014.
MIM programs -
Name of the University |
Companies who recruits |
Avg. Salary vs fees |
University St Gallen |
Ernst & Young,Microsoft,McKinsey & Company,Credit Suisse,Booz Allen Hamilton,Alstom,Accenture,Hewlett Packard,Robert Bosch,Schindler |
$120000
|
HEC Paris |
McKinsey & Co , General Electric , Credit Suisse, Loreal, KPMG |
$121061
|
EM Lyon Business School |
Gucci, Armani, GE, General Motors, Oracle. |
$100000
|
Essec Business School |
Samsung, Air France, Apple, Bains & Co. , Booz & co. , France Telecom, Sony, RBS, TAG Heuer. |
Euro - 60000
|
Grenoble Graduate School of Business |
Microsoft, McKinsey , Hewlett-Packard , Cap Gemini Ernst & Young ,Coca Cola , HSBC , Pfizer . |
Euro - 85000
|
Rotterdam School of Management, Erasmus University |
Apple, Booz, Tag Heuer, Prada, Alstom |
Euro - 70000
|
If we look at the Global MBA programs :
NAME OF THE UNIVERSITY |
INTAKES |
Avr. Salary vs Fees paid (in dollars) |
Harvard Business School |
September |
187223
|
Stanford Graduate School of Business |
Fall Intake |
194645 vs fees of 57300 |
University of Pennsylvania : Wharton |
Fall Intake |
180772
|
London Business School |
Fall Intake. |
GBP 160988
|
Columbia Business School |
August Intake / January Intake |
174347
|
Insead |
January and September. |
Euro 153992
|
University of Chicago: Booth |
September |
162363
|
So, when the salaries offered on the campus is at least 3-4 times that of the fees you invest in the program in most of the campuses, while in India none of the institutions may give you the returns commensurate with the fees paid.
Yes, this is an interesting question, especially with so many of Indians do Engineering in under-graduation and for those who are interested in continuing in their field yet want to gain managerial skills, this could be a vary good programme. This program focuses on :
If you are interested in technology leadership, high technology management, R & D management or even technology entrepreneurship in a start-up company, this could be a program for you. And quite a few universities in Europe offer these programs.
Yes, most universities look for a Four-year under-graduation, but you can still get admissions to the universities in a few ways :