Aug
13
The Business of applying to Business School
Filed Under New Business Ventures, Rants, Savings |
So I guess it is no secret now that I am going to be applying to business school. I have made some huge strides in life thus far in my life and I know that these strides have prepared me to begin the rigorous course load and fascinating lectures of business school.
I am going to be applying to 4 schools. Harvard, MIT Sloan, Bentley, and Babson. I pick these schools because I think the courses that are part of the curriculum are best suited for my career goals. I am going to have another post for each school’s application process and how I am reacting to each. But this post is to mainly discuss the application fees!
Here are the application fees of the four schools that I am going to be applying:
- Harvard - $235
- Sloan - $230
- Bentley - $50
- Babson - $100
There is also a GMAT application fee:
- GMAT - Test Fee - $250
So, if I decided to apply to all four of these graduate schools, I will be forking out $655 in application fees! On top of that, and even before I can consider application fees, I have to take the GMAT, which makes the grand total of applying to these 4 business schools $905.
Harvard accepted 14% of its applicants in 2007
MIT Sloan School accepted 20% of applicants in 2007
One would also consider the fact that maybe this application fee is to weed out potential people who feel they may not be accepted. Harvard and MIT Sloan both have very exclusive programs. Harvard accepted 14% of its applicants last year (914 students). MIT Sloan was able to accept 20% of their applicants (350 students).
The question arises, does it make good business sense to apply to all of these schools? There’s something about MIT Sloan that makes me feel it would appeal to my entrepreneurial abilities, and honestly may be a completely better candidate for the Sloan School of Management, however, I am not drawn to it as I am to Harvard.
Is my pull to Harvard emotional and unfounded on any fact? If so, it isn’t the best business practice to go purely on emotion. As my studies progress and things come closer to application time, I will better be able to pick the school that I would like to attend (if and when I am accepted!).
So, my work is cut out for me. Wish me luck as I take the next step in my life.