Financing an MBA is a common challenge for most MBA aspirants.
MBA is getting really expensive. Most students rely on some sort of external funding like loans that come with a high-interest rate, and that’s why a lot of students look forward to getting a scholarship.
For those of you who wish to pursue their education in an MBA abroad but don’t have the financial backup that it requires, then an MBA scholarship is the thing for you!
In this video, we are going to show you a variety of MBA scholarships for Indian students that are available whether they are within the country or abroad.
Before we begin, have you wondered why Universities offer scholarships in the first place? Why do they fund international students every year?
Well, here are two main reasons
The first is Universities look at making it easier for deserving candidates to get an MBA admit. The second is Increased competition between schools in getting their desired applicant. And hence the funding.
Now let’s look at the different kinds of scholarships that you can make use of/. So essentially there are two kinds:
Need-based Scholarship and Merit-based scholarship
1. Need-based scholarship:
This is the most common type of financial aid at independent schools This type of aid is awarded to a family strictly based upon their financial need.
That means it doesn’t discriminate by any factor apart from financial need. Eligibility is based solely on the assets and income of the prospective student and his or her family. Factors such as test scores or athletic ability have no bearing on need-based aid.
To mention a few, you can look at Stanford Reliance Dhirubhai Fellowships for Indian Students, Rotary Foundation Ambassadorial Scholarship, Tata Scholarships for Cornell University and several others that assess your background and are willing to fund your studies abroad.
2. Merit-based scholarship:
Merit scholarships are not dependent upon a family’s financial need. Merit scholarships are most commonly awarded in one of two ways: a student’s connection with an affinity group or for a student’s academic performance.
Do Spend time on each MBA program’s financial aid webpage, and make a note of all the scholarships and fellowships that you may qualify for.
Now that you know of the two types of scholarship, the next question is- How do I increase my chances of getting a scholarship amongst thousands of applicants?
Just remember you will need to be an above-average candidate for the school you’re applying to in order to be considered for a valuable MBA scholarship fund.
This means your academic credentials and GMAT or GRE score will figure in prominently—so will your work experience, volunteer or community service, and undergraduate work.
So here’s are strategies that you can apply to get that desired scholarship.
1. Get a high GMAT Or GRE Score
Your best chance to outshine your scholarship competition maybe your GMAT or GRE score.
Because it’s the only factor you can change with just a few months of regular prep.
2.Apply Early to the B-schools
Applying in round one means that you are applying for all available seats and, sometimes, all scholarship chances. The longer you wait, the more these opportunities and MBA scholarships may disappear, because they are awarded to other applicants.
3. Reach Schools- Apply to Reach Schools
The schools in the Reach Category should be those that you stand a great chance of getting into. A reach school is one where your academic credentials exceed the school’s range for the average first-year student.
The final step, work on your MBA application and make sure you have a great essay that showcases your profile to MBA Adcomm in the best possible way!
As a part of our MBA application process, we at CrackVerbal will guide you at every step in order to crack the admissions at your desired school. You will be assigned a top B-school alum as a personal MBA mentor, who will help you craft an essay that will get the attention of the admission committee and also increase your probability of getting an admit into your target B-school.
We have helped a lot of students get admission into top B-schools with scholarships. You can check out the links to their stories in our description.
For more information, visit us at www.crackverbal.com
If you are a technology professional who has spent, let’s say a good few years in an I.T. company and if you’re looking at an MBA program, I’m pretty sure a lot of you out there are thinking how can I leverage my background in technology.
In this video, I’m going to be telling you a bunch of such programs that you should be having if you are looking at getting a tech MBA.
So first let’s look at the pure tech MBA programs. These are offered by some of the top schools. So the first set program is STERN Tech MBA. Now, this is really a one year course and the application process is very similar to what you have for the regular MBA course.
The thing with NYU Stern is I really think the location that you’re going to be in New York, right.
So that gives you access to a lot of companies and people think that not many technology companies are there are on the East Coast but most large companies will have an office in New York or in the periphery, right.
So I think locationlly also Stern has a good weight. The other thing is the STERN regular MBA program in many of these rankings appears routinely somewhere in the top 10- top 15 so that ways you also have the pedigree of the MBA granting institution.
The other cool thing about the stern MBA program is that it also offers you a STEM MBA.
STEM stands for science, technology, engineering and mathematics which automatically gives you an opportunity to extend your visa by another 24 months. So in case, you have heard of that this MBA program actually gives you that runway or leeway.
The second MBA program that you should be looking at is the Cornell Tech MBA program.
This tech MBA program is again a one year MBA program. It starts off with an intense 10-week program where they teach you the core business and leadership aspects that you need to know and those that you will move to their New York campus in January.
Between those two semesters, you also have the opportunity to travel to Israel to network and present your business solution to local staff. Also, the other parties Cornell by itself as you know one of the Ivy League colleges, have good brand credentials. Kind of you know placed in the East Coast so also gives you access to large cities. So net definitely a program that you must consider.
The third program that I would like to talk about is the tech can be a program offered by Foster School of Management which is the University of Washington. Now if you look at it this technology management MBA is also you know accelerated MBA program into the 18-month program and what it really does is it kind of focuses on technology, right.
So that’s really going to be of you’re going to be focusing on. And the thing that you need to understand about a program like this is that this program is in Seattle, right, home to Microsoft, home to Amazon. right.
So these are large tech players and when you have two of the largest companies in the world in one geographic area what you realize is that a lot of other things also start growing in that area. For example, there are a lot of small boutique tech consulting firms, right, in very specialized niches, so you know that’s where the employment opportunities also open up.
I think locationally this is a great school, has typically had a lot of people go into you know tech careers. So you also have a very strong alumni base.
The fourth program that I would like to talk about is not really in the U.S., In fact, it’s in Spain. It is the tech can be offered by the IE School of Business. This tech MBA is one of the first such programs in the whole of Europe. And what it really promises is, it promises to you know develop professionals who want to have a career in the technology sector.
So it assumes that you already have a background in technology very clearly on the website. It’s a one year program, and it’s written in bold. It says This program focuses 100 percent on business for tech.
So what these four programs really do is they give you a tailored MBA program meant for people who are very clear they are going to work in the sector. So if you have that level of clarity, If technology excites you and you think that you can contribute to a tech company not just with your technical skills but also that certain business skills then these programs should be on your list.
I’m going to add three more schools to this list though they don’t have explicit tech MBA. I think they are very very strong when it comes to technology. The first such program would be the Tepper MBA at Carnegie Mellon University, CMU. This program essentially offers a technology strategy and product management MBA track.
Earlier it was called the Technology Leadership track and, what this track really does is it emphasizes the management part of running a high tech company right. So that’s really where it is and it’s very clear that it wants to prepare students who aspire for senior positions such as product managers or technology consultants or maybe even a V.P. of product or a CTO kind of role through this MBA program.
One more school that I like and it’s not very pretentious it says what it does is the Georgia Tech Scheller MBA program right up to the very clearly say that we are a program where people who come in with their technology orientation will thrive. I know a lot of former students who have become technology consultants. People have moved into product management, so that program also has a very strong focus on technology.
In fact, they have an MBA core which is the information technology management core. It is in Atlanta and Atlanta offers you that locational advantage. As I said very crucial when it comes to something like tech.
But I’m going to throw in a small bonus over here. I’m also going to be talking about a few more programs that you should be looking at. They don’t offer tech MBA, it’s not like a specialization but these are programs that are great for various other reasons.
The first one on this list would be Stanford. Just the locational advantage it has of being in the Bay Area provides Stanford with you know access to you know great companies in technology, right. And you know many of the tech companies started off from Stanford. So, you can imagine the number of product managers at Google who are going to be hired from Stanford.
Then you have Haas-Berkeley again, in the bay area right in Silicon Valley which means you again have access to that, you know a set of companies and you know I would strongly recommend looking at that program also.
Similarly, you could probably look at other programs. For example, I also know that the University of Texas at Austin, the McCombs MBA program also has a sector on tech. That means that if you are very clear that you want a career in technology that the MBA program should also be on your list. Because it’s in Austin and if you see a lot of companies of today in the U.S. moving away from slightly expensive places like California and moving to places like Texas. So that also could work to your advantage. Apart from this, I would also encourage you to look at schools, especially the, UK because now with the new visa rule that you have a two-year window after you do your MBA from the UK.
How could this be complete without me mentioning about M.I.T?
So M.I.T. obviously even the regular MBA program known for its tech thing. You could also explore other programs like I said both Stanford and M.I.T., have this unique pedigree because of their tech schools that they also offer programs for people who have been an I.T. for slightly longer. For example, Stanford has the MSX program for people who have a minimum of eight years of experience.
It’s a one-year accelerated fellowship. Similarly at M.I.T., you have an SDM program that is a system design and management program which again is kind of catering to people with slightly more experience.
So my suggestion would be to also look at these kinds of programs. If you have slightly more experience.
I hope this gives you a good insight into the kind of programs that you should apply if you’re looking at continuing in the technology industry if you like this video please go ahead and let us know by liking this video, sharing it with your friends. And if you have any queries about the whole MBA process please go ahead, Let us know in the comments below. We would love to help clarify that for you.
For more information, contact us at www.crackverbal.com
Hi, Welcome to CrackVerbal. In this video, we are going to be talking about Management consulting as a career.
So What do Management consultants do?
Quite simply, management consultants help their clients solve problems like “ falling revenues”, “ growing costs” or “expansion into new markets” etc
Management consultants work with businesses to optimize their performance by providing expert advice to solve problems.
The day-to-day responsibilities of a consultant typically involve performing client audits, interviewing employees of the client, analyzing company figures, providing recommendations, and an action plan for implementation.
Management consultants clock in around 50 – 75 hours per week, with most consultants having to travel and work away from their homes up to 50% of the time throughout their careers.
You might think that’s exciting at first, but after a couple of months flying in and out every week, and burning your weekdays mostly in client’s offices, you might wish for a job that actually involves less travel.
Who are the main management consulting firms?
There are three companies that are often referred to as the Big Three consulting firms. They include McKinsey & Company, Boston Consulting Group, and Bain & Company. They all consult a variety of projects and specialisms.
The Big Four accountancy firms PwC, EY, Deloitte and KPMG also have large management consulting arms.
So what are the Salaries for consultants?
Entry-level consultants in the Big Three consulting firms in the US earn up to $90,000 while MBA Hires or Experienced Consultants, that is the Big Three consulting firms in the US earn almost $200,000
What are the Skills Needed to be a Management consultant?
#1 Problem Solving: Strategy & Management consultants know how to solve very complex problems and they teach and enable their clients to do the same.
# 2 Interpersonal & Communication skills: Both oral and written in order to present their ideas in a clear and concise manner.
#3 Persuasive Skills: The third most important skill is persuasion as they have to convince their clients to make changes to their existing routines and processes.
& finally strong time management abilities.
How to become a consultant?
Management consulting is one of the most prestigious career choices & high paying jobs for business students.
The competition is fierce, and applicants with MBAs or business master’s degrees will find it considerably easier to get into the field.
Consultancy firms are known to be some of the most active recruiters at top B-schools and also offer summer internships which can help get your foot in the door.
If you dream of becoming a management consultant then take the GMAT and apply to a top MBA program.
If you are planning to start your GMAT preparation then do enroll for our Free GMAT Kickstarter course.
In case you found this video useful, do subscribe to our channel as we will put up interesting content every week. Thanks for watching.
For more information, reach out to us at www.crackverbal.com
If you have been wondering “Why MBA?” or “Is an MBA right for me?”, then watch this video where we discuss in detail on what to expect from a B-school.
Watch this video where we talk about the success mindset that candidates applying to top MBA programs must have and the 3 things that top B-schools look for in their prospective students.
In this video, we first get a good sense of what London Business School is and what makes its MBA program so sought after. We then go on to carefully analyse each of the essays you will find on each of LBS’s application and discuss what the best approach to each of the questions would be. If you are someone who is looking to secure an admit and become part of the LBS family, this video will give you that edge while creating your essays.
In this video, we first get a good sense of what Oxford’s Said Business School is and what makes its MBA program so sought after. We then go on to carefully analyse each of the essays you will find on each of Oxford’s application and discuss what the best approach to each of the questions would be. If you are someone who is looking to secure an admit and become part of the Oxford family, this video will give you that edge while creating your essays.
In this video, we first get a good sense of what INSEAD is and what makes its 1 year MBA program so sought after. We then go on to drill down on each of the essays you will find on each of INSEAD’s application and discuss what the best approach to each of the questions would be. If you are someone who is looking to secure an admit and become part of the INSEAD family, this video will give you that edge while crafting your essays.
To get into Harvard other than a high GMAT score you also need to be able to tell your story in a compelling and unique fashion in your Application essay. Writing any MBA application essay is a hard task. However, Harvard raises the bar with its highly-challenging yet open-ended prompt. In fact, HBS liked the question so much last year, they kept it unchanged for this year’s admissions season.
Essay Question: “As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA Program?”
Watch this video where we give you a step by step guide to approaching your Harvard Business School Application essay.”
You DO NOT need an MBA! Don’t get fooled that an MBA is going to solve these problems for you – it is not!
1. You cannot do an MBA thinking it will make you into something you are not. You cannot expect 1-2 years to do what 20-odd years haven’t.
2. An MBA is not a “get rich quick” scheme – in fact, for the first few years, an MBA would not make *any* financial sense.
3. Getting an MBA is the answer but you need to know what the questions are. Without it, MBA can confuse you further rather than give clarity.
Want to write clearly, and persuasively? Here is a 3-point framework to use for writing your MBA Essays (but really it can be used for writing anything!).
1. Pick the right story – big fan of using post-it notes – not just for collecting your thoughts but also “bucketing” it into various phases of your life that you want to talk about
2. Structure it well – organize your ideas for delivery. Very important you focus on this for B-School essays. I am giving out the structure for writing the essays for the top 30 schools in the world: https://www.youtube.com/watch?v=Hqdeq…
3. Write error-free – use tools like
Grammarly: https://app.grammarly.com/ (create a free account)
Text2Speech: https://www.naturalreaders.com/online/ (set speed to 0)
1. All things being equal, R1 does give you an edge over R2 in terms of the probability.
2. If you get dinged in R1 then you have an option to apply in R2 so it becomes your plan B.
3. You hedge your risks by applying to as many schools as possible by applying to both R1 and R2.
So, in short – if you have taken the GMAT then it is better to have a strategy to apply in both the rounds.
The #1 Reason why people get rejected at top MBA programs such as Harvard is that they are not able to show their “employability” post-MBA.
Remember you need to use the journey (MBA) to reach a goal (your career). A successful application will show (a) where the applicant is today (b) how an MBA would add value, & (c) where the applicant will get to.
There is a great Linkedin tool to help you figure out where the alumni from a particular B-school are working today. Here is an example of how to use it for ISB:
Gotten an MBA Interview call? Worried about how to prepare for it?
Here is a short video with tips to make it a cracking interview!
1. How you say things is more important than what you say – such as your tone, your body language.
2. Ensure you have prepared responses for the standard interview questions
3. You need to “lead” the interviewer into asking you questions that you are comfortable talking.
4. This is not a quiz contest – they are trying to probe into what you have done. Keep it conversational!
5. Dress comfortably. The days of wearing a tie are long gone – dress smartly instead!
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