Jul
27
Is the MBA Worth It?
Filed Under Business & Career, MBA
So I finally received my letter of acceptance from a top tier Business program. According to a Business Week article citing a research paper called the “Economics of Knowledge,” the United States is home to 17 out of the 20 top universities in world. Seattle is ranked 17th.
It took me a number of tries to get the GMAT, including hours of studying and enough caffiene to sterilize a championship horse, but I finally made it. I hadn’t studied that hard since I took the exams for my Microsoft Certified Systems Engineer (MCSE) certification, but after a few months and long weekends you start to develop a study habit. Now the fun begins in the Fall.
My GMAT Study Method
I have outlined my study method for the GMAT for those interested in taking it. This is my personal thoughts, rants and suggestions. It worked for me. However, the best way to overcome the gauntlet known as the GMAT is to find and create your own method that most suits you.
- Schedule the exam (Early! Sometimes they get overbooked and you might have to wait for the next month…or so)
- Do your research
- Take a couple of practice GMAT exams (Figure out early where you stand)
- Study
- Retake practice exams
- Focus on your weaknesses
- Time Yourself
- Take the real exam
- Rinse and Repeat…
Schedule the GMAT
Before studying for the GMAT, SCHEDULE YOUR EXAM. In fact hit control T on your keyboard, open a new tab and grab your wallet. (translation, put your money on the table) When you put a deadline and financial risk on the line it makes you step up to the challenge. I have been thinking about Business school for several years before committing to it. Once you pay there is a heavy reschedule fee. It costs the same as paying to retake it. What better motivation to take an exam after dropping close to three hundred dollars.
Research
Do your research. Some of the best research on the GMAT was through mba.com, blogs, forums, and other students who have taken it. If you are looking for a couple of good links to blogs and forums shoot me an email, I have them book marked.
Take a practice GMAT
The three practice GMAT test preps and books I used were Kaplan, the Official GMAT Review and mba.com. If you have time take two practice exams before you start studying. This will give you a bench mark of where you are compared to what you need to learn. If you were like me and haven’t studied seriously in awhile, it takes some getting used to in order to sit over 3 hours and take a test. But the important part of the GMAT is being mentally prepared and staying confident during the exam. The exam is a not only a test of your verbal and math skills, but your test taking skills. i.e. learning not to panic and day dream while taking your exam.
STUDY STUDY STUDY
Start studying now. Studying is an artform, not something you just do. I suggest picking up a book or doing a quick web search, using live.com of course. 
Some of the best tips that helped me were:
- Pick a comfortable place (not too comfortable) and time to study and make this a habit. I studied daily from 6 pm to 9 pm at the local library. Starbucks was too distracting and home was too comfortable. The kitchen, tv and even bathroom were too close for comfort. It gave me an all to easy excuse to get up. So I preferred the local library.
- Take a break each hour. Stretch, drink water…blah blah blah…you know what to do during breaks.
- Keep in good shape by doing cardio or weight training. You will be surprised how sharp your mind and your reflexes are after working out. For me, it was an absolute MUST.
- Have fun studying. Study without music and sometimes with music. You notice that your brain functions differently when applying this technique. I studied while listening to classical music…Liszt, Beethoven and Bach to hardcore hip hop like the Wu-Tang Clan….whatever you are interested in, try it.
Retake the Practice Exams
Every Saturday take a full practice exam. It takes a few weeks to see a score difference, however, stick with it long enough and you will improve. Taking a practice exam each week will also teach you the discipline to manage time and take a grueling test on a beautiful Saturday. As soon as you wake up, jump out of bed and take 3 to 4 hours in the morning to test. I spent the remainder of day watching seasons of Entourage, Rome and The Wire on DVD anything to not fry what was left of my brain that day.
Focus on Your Weaknesses
As the test date comes closer be sure to spend your energy on the items you missed during testing times. My strengths were in the verbal section, so I spent most of my time on the Quantitative portion. Understanding how you learn is very important. Since I am a visual learner I rented a SAT math DVD from the library, you probably can get it using Netflix or Blockbuster. This was a tremendous help. It was like having a world class teacher tutoring you in person. You can stop, start, pause and especially rewind them. The set I used was called Algebra Math Tutor. The video’s were dated but math was still the same. Email me to grab the list. Trust me I went through dozens of math videos to sharpen my long forgotten algebra skills.
Time Yourself
Buy yourself a digital egg timer for $2 bucks. When taking practice problems in the book time yourself on each section. Remember each question you should only be spending no more than a minute and a half on the quant side. This digital egg timer also comes handy at work. You can set it for an hour and make sure to get up and stretch after it beeps.
Take the Real Exam
Stay confident during test day. Even though you think you blew it, stick through it with confidence. You will be surprised how well you do when just staying composed and confident throughout the exam. It is truly a long grueling experience, but the best thing to do is to get it out of the way and move on with your life.
Rinse and Repeat
Some people are excellent at taking timed exams. For me, it took sheer perseverance. Think the tortoise and the hare approach.
Is the MBA Worth It?
So is an MBA worth it? Yes, depending on your goals. Do your due diligence and research it for yourself. If you are interested in networking with like minded peers, marketing yourself, becoming well read and prepared to take on challenges, go for it. Someone once explained it to me this way…How old will you be in two to three years with an MBA? How old will you be in two to three years without it?
Best regards,
Bernard R. Ablola
See you at the top!