Business school, it turns out, is a classic conundrum. On the one hand, an MBA is a highly desirable business degree and seemingly a ticket to future success in the business and corporate arena. Yet, on the other hand, the business school landscape is replete with stories of student angst, anxiety and high stress that can lead even the toughest amongst us to crack under the weight of high and unrealistic expectation. When then are business schools so attractive for the highly motivated? Because, prevailing wisdom suggests, business school teaches you the fundamental concepts and ideas that can help you become a successful executive. A stint at business school will arm you with the knowledge you need and prepare you to face many of the issues and challenges you will undoubtedly face as you navigate the business world while giving a boost to your resume, abilities, self-assurance and confidence.
Consider some of these high-stress inducing factors that business school students have to contend with – the prohibitively high cost of an MBA (a top level school could easily cost upwards of $80,000) coupled with a lack of income for the two years spent in campus, a sense of intimidation from the perceived caliber of fellow students, the social isolation from family and colleagues, and the high pressure to keep up with individual and collective assignments.
If, however, students can conquer, or at least control, their fears and the inevitable stress, and commit to graduating while struggling to keep themselves sane during these two years, the payoff is the thrilling high that comes with liberation and a sense of accomplishment not to mention owning a highly desirable advanced degree with business majors that will hopefully have recruiters beating a path to their door to hire them for the coolest companies on the planet.
So what can you do to ensure just such an eventuality?
Others who have traveled this path before advise that you shouldn’t wait until the day before you are due in campus to quit your job and then show up at the school campus. A good rule of thumb is to give yourself 2-3 weeks to prepare yourself for what is undoubtedly going to be a challenging couple of years. You may choose to prepare by either taking that much anticipated vacation, spending time with family and friends (since you’re not going to be able to see much of them in the ensuing two years) and reading up on the b-school experience.
Another option that we see many successful students pursue is an internship in their field of choice for a post B-School career. This option is usually opted for by career switchers. It gives students a head-start and also helps them get some relevant work experience in a domain they are seeking. While for many, B-school is the place to explore the many possibilities of what one can do, some students are very specific about their goals. We see this happen often with VC&PE, Management consulting industries and also start-ups.
Commit to attending any pre-orientation events and trips organized by the school. This is a good way to meet and establish rapport with classmates and get to know them a little before classes begin rolling. Students who have availed of these opportunities report having a much easier time transitioning to campus life than those who didn’t.
We spoke with David Parker (name changed), a recent graduate of the Kellogg School of Management, who had embarked on a military career and was looking to upgrade his military experience with management skills. Parker said that his chief worries were about the cost of the program and living expenses. On the social side, he was anxious about not fitting in with the culture and accepted social norms. But in the end, his desire to develop skills like negotiation, networking and working with global teams trumped his fears of social isolation.
In addition to ensuring that you make a smooth transition socially, remember that you will need tools to be successful in the classroom. Conduct an audit of the skills that you may need to brush up. For example, are your quantitative skills not up to snuff? There are classes you can take to make sure you bring them up to speed before arriving in campus.
Take the time to talk to alumni and representatives of the current student body to get a feel for life in campus. The goal is to make yourself aware of the emotional pitfalls that could seriously hinder your progress. The idea is not to psyche yourself out of the experience but to walk into it with your eyes wide open. Knowledge, as they say, is power.
Lastly, enjoy the best business school experience. It’s a short but immersive experience and can open up a world of new opportunities and connections. Don’t be intimidated by the accomplishments of your peers. You gained a seat in the classroom so clearly the school believes that you have something to contribute. Remember also, that GPA is not the “summum bonum” of your b-school experience. It doesn’t count for much so make sure you enjoy activities outside the classroom that will broaden your perspective and experiences. For example, business school students come from many different backgrounds and diverse countries. Get to know your fellow classmates and participate in social functions and programs.
Parker, the Kellogg graduate, said the Kellogg experience broadened his horizon in unexpected ways. In addition to the exposure to business concepts, he derived value from interacting with a diverse body of students and teachers and developing skills he didn’t possess before B-school such as critical thinking. He also realized that hard work isn’t enough and that one needs a balance of soft skills and people skills to be successful. He said this was one of the most important takeaways from the business school experience.
Nothing though will prepare you for success unless you resolve to do well and avail of opportunities. Many students who have gone through a rigorous and demanding business school program have noted that you need to be determined about making the most of business school, and most of all being open to the experience itself. Classes and assignments will be demanding, group projects will challenge you and your classmates, and exams will be energy-sapping but you can get through with equanimity if you have the will and determination to plunge wholeheartedly into the business school experience. Years later you will probably reflect upon it as the defining experience of your professional life.
So if you’re considering going to business school, be truthful about why you want to go and what you want to accomplish. Business school will give you the knowledge platform for business but it’s up to you to maximize your learning, experience and the benefits you can derive from such a significant investment of time, business plan, labor and financial resources. All the best!
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