This scenario might be difficult to imagine when you are still in the process of applying to business schools, but every year, we see applicants who have worked hard to get accepted to an MBA program suddenly realize that they do not actually want to attend the program after all. And occasionally, we see candidates who are not accepted to any of the schools they targeted and must face the fact that they now have to remain in a job that they had been more than ready to leave.
So, how do aspiring MBAs end up in these kinds of situations? In both these scenarios, the applicants chose and applied to schools without first taking an honest look at their candidacy, goals, and alternatives. The key is to very thoroughly consider where your true “tipping point” lies in terms of attending business school. In other words, compare how you feel about attending a particular school to how you feel about your other alternatives—staying in your job or looking for a new one. At what point would not going to business school at all be preferable to going to X school? Some candidates feel that if they do not go to Harvard Business School, they might as well not go to business school at all. Others believe that they must attend a top-ten school. Still others think, “I’d really like to go to a top-ten program, but I’d be happy going to any school in the top 30.” Having a frank discussion with yourself (or an mbaMission consultant) on this topic could help you pinpoint where this cutoff point is for you.
Start by researching all the MBA programs at which you believe you would be competitive, and organize them into three categories: dream schools, reasonable schools, and safer schools. Then, take a closer look at each of the schools you deemed “reasonable” and “safer,” and ask yourself, “Would I rather be at this school next year or not be in school at all?” Essentially, take a moment and imagine your worst-case scenario—not getting into any of your dream schools—and decide what you would do in that situation.
Then, in addition to applying to your dream programs, apply only to those reasonable and safer schools for which you felt going would be preferable to not attending any MBA program at all. This way, you can avoid finding yourself in either of the situations we described at the beginning of this post and should instead be well positioned to embrace the choices you ultimately have.
