It’s that time of the year again. The last days of summer are slipping by quickly and the whisper of fall is growing louder and louder. As August ushers in a new school year, you may be entertaining the idea of spending next fall in a graduate program. For BAUCEs who are looking to pursue a different career path, a Master’s in Business Administration (MBA) could be a fruitful and fulfilling way to spend the next few years. The classwork associated with an MBA can equip students with qualitative and quantitative skills related to their field of choice (e.g., marketing, accounting, finance, entrepreneurship, or operations). While the benefits of an MBA may appear enticing, the process of applying and enrolling can intimidate candidates. These 15 organizations can help demystify the process, should you choose to apply.
Scoping out the Landscape
1. Financial Times
The Financial Times is an international publication that covers a variety of topics across geopolitics, business, and other current events. In addition, the Financial Times publishes a ranked list of MBA programs on an annual basis. Any type of ranking should be taken with a grain of salt. However, the Financial Times considers 20 parameters in compiling the list including post-graduate income, salary increase, staff diversity, alumni engagement, and other metrics. Given that this degree can cost you six figures, it’s worth knowing how your potential alma mater can provide benefits such as a deep network and higher earning potential.
2. AccessMBA
AccessMBA can be especially helpful as you develop a shortlist of potential schools. This organization hosts MBA events across six continents. Through their programming, applicants can attend showcases for different business schools and have in-person or virtual conversations with admissions directors.
3. Poets and Quants
If you’re looking for a catch-all website related to all things MBA, then you should spend some time scrolling through the forums on Poets and Quants. Business school comparisons, admissions tips, and thought pieces are facets of the website. In addition, Poets and Quants periodically publish profiles about impressive business school students. Such articles will highlight the “Best and Brightest” students across schools, display school-specific lists, and share inspiring individual profiles. Be careful not to become self-conscious and compare yourself to such people. Instead, comb through these curated lists and identify characteristics or ambitions that you share with the folks who are featured.
4. Personal Anecdotes
Few resources provide the level of insight that a firsthand account does. Social media has numerous BAUCEs who describe their business school application and matriculation process in their own words. Tamar Nisbet, a member of the Stanford Graduate School of Business 2020 class, published a YouTube video titled “Was my Stanford Degree Worth it?” In this video, Tamar dissects her graduate school experience in a candid and concise manner. If you do not personally know anyone who has gone down this path, then it can be immensely helpful to hear Black business school alumni share their perspectives.
Preparing for the Tests
5. Kaplan
Standardized tests are a necessary component of most business school application processes. In particular, applicants often have to take the GMAT or the GRE in order to qualify for admission. Kaplan offers free GMAT practice tests and a broad offering of test prep that people can purchase.
6. Princeton Review
You may recall this company from your undergraduate application process. The Princeton Review can be a helpful resource for business school applicants as well. Like Kaplan, they offer classes where you can pay for an instructor to teach you test material and study techniques. The Princeton Review offers select free resources as well.
Receiving Guidance from a Coach
7. MLT MBA Prep
Management Leadership for Tomorrow, a professional development program for both undergraduate and graduate students, offers a comprehensive six-month program to guide applicants through the admissions process. Each member of the program receives personalized mentorship from a coach with experience in the application process. In addition, MBA Prep connects applicants with other ambitious people of color who are navigating a similar journey.
8. JumpStart MBA
JumpStart hosts forums for applicants to connect with business schools and potential employers. These events target different sectors, such as finance and marketing, so that applicants can benefit from industry-specific insights.
9. Toigo Fellowship
For BAUCEs who are interested in a career in finance, the Toigo Fellowship provides an excellent way to build a foundation in the field. This fellowship entails a financial education curriculum, mentorship, and classes that endow students with quantitative abilities.
10. SEO Leadership Institute
The SEO Leadership Institute is more of a niche resource as it serves alumni from other SEO programs. The institute allows early career professionals to connect with more seasoned industry leaders. Events encourage members to pursue continuous learning and sharpen their skills as business leaders.
Financing the Degree
11. The Consortium for Graduate Study in Management
This organization is over 50 years old and has helped scores of underrepresented applicants to prepare for the academic and financial components of pursuing an MBA. The Consortium covers the tuition and required fees for accepted applicants, which translates into thousands of dollars saved.
12. AAUW
This organization seeks to advance gender equity in education and in the workplace through mentorship and financial support. As such, the AAUW has the grant to support women of color in business school. These grants can be up to thousands of dollars, which can help alleviate the financial burden of graduate school.
13. Samvid Ventures
Established in 2021, the Samvid Scholars program provides funding for students about to enter their first year of graduate study. In addition to a $50,000 scholarship that is renewable for two years total, the program introduces its scholars to a network of mentors and other leaders.
14. Forté Foundation
This organization endeavours to help women with professional development, education, and mentorship. Forté Scholars have access to a spectrum of MBA programs such as business school information sessions, individualized coaching, interview preparation, and other resources. Forté also offers an MBA fellowship with a financial facet as well.
15. Congressional Black Caucus Foundation
The Congressional Black Caucus Foundation offers a variety of programming to help individuals with their professional and educational pursuits. In particular, the Stephen Feinberg scholarship supports Black graduate students.
