MBA Game Plan - Business School Admissions Advice

A recent BusinessWeek article explored the recent growth of specialized MBA programs, especially as a way for lesser-known schools to stand out from the pack. But are they always a good choice for business school students?

"Not necessarily," writes Fancesca Levy for BusinessWeek. "While established programs have placement records on par with those of their general MBAs, many newer programs have not yet established the kind of recruiting relationships that guarantee students high-paying jobs at graduation. And graduates always run the risk of getting hamstrung by their specialties later in their careers, when an industry downturn forces them to look outside their specialties for opportunities."

While specialized programs are often a great fit for many MBA students, their recent growth reminds us of the wave of e-commerce programs that appeared in business schools eight to ten years ago. Vanderbilt's Owen Graduate School of Management, for example, put a lot of emphasis on its e-commerce MBA at the start of this decade, only to scale back its offering after the dot-com party was over.

We're not knocking Vanderbilt or any of these schools for rolling out these programs. The market for management education is constantly evolving, and it's often these smaller schools that create real curriculum innovation. Just be careful that you don't chase any fads or trends that may not suit your goals five years from now, once the next fad comes along (real estate fit that description a couple of years ago, and "green" environmental MBA programs just might be next).

Also, consider what you really expect to get out of your MBA experience. For many, an MBA is a chance to learn how to think like a manager, regardless of the industry or function. Other applicants, meanwhile, enroll in business school to learn specific skills that can help them flourish as soon as they graduate. If you're in the former camp, you may want to skip these specialized programs in favor of a more general management-focused curriculum. If you're looking for more specific skills, however, then a specialized program may be a good fit for you.

For more help in choosing a business school, try the Veritas Prep Business School Selector. For help in preparing for the GMAT, check out the Veritas Prep GMAT prep page on Squidoo.