13 Myths and Realities of Business School

Traditionally the MBA is the face of business school education. However, over the years there’s been a dramatic increase in the number of specialized business master’s programs, from marketing to management, finance to entrepreneurship. Soft skills training, career training, and events including networking events play a pivotal role in business schools.

MBA programs have also become more specialized. At EGADE Business School for example, students can apply to study the MBA in Innovation & Entrepreneurship.

Gone are the days when business was a real dog-eat-dog world. Business schools have shifted their programs to be more team-focused to reflect the modern-day business working environment.

EGADE Business School’s MBA in Innovation & Entrepreneurship strives to enhance students’ ability to lead and motivate teams while developing their confidence in managing projects and collaborating with stakeholders and fellow colleagues.

Exclusive facilities, such as specially formulated business labs, let students solve genuine business problems and engage in international networking where they’ll have the opportunity to connect with their peers around the world.

If anything, a backpack is far more suitable, comfortable and easier to carry everything you need in. You also won’t need to dress head-to-toe in formal attire unless you’re attending a careers event or job/placement interview.

Again – not true. People go to business school because they need to, not because they are experts. And while many business school students come from a business-related background, a lot come from the arts and humanities, languages, engineering, even medicine.

Business school isn’t one big math lesson. Although you’ll need to take some modules in subjects like statistics and accounting, not being good with numbers isn’t going to hinder your entire degree.

There’s also the misconception that you need to dedicate two years of your life to business school. In today’s globalized world, studying online is as common as traditional classroom-based learning, meaning you no longer have to worry about balancing studying with your career, family and other responsibilities.

Today, degree programs can be studied part-time, full-time, online, and anywhere between one to five years. EGADE Business School, for example has campuses located throughout Mexico and a wide range of postgraduate degree programs, including the one-year full-time MBA in Innovation & Entrepreneurship, two-year part-time EGADE MBAOnline program, and part-time EGADE – W.P. Carey Executive MBA program. The choice is yours!

Your business school application is going to be loaded with all sorts of information, and with the exception of your GMAT/GRE score (more about that later), it’s your GPA that’s going to stand out the most. Your GPA generally indicates how well you did in your undergraduate degree and whether you’ll be able to keep up with the more advanced classes at postgrad level.

But don’t stress just yet. A perfect GPA isn’t what business schools are looking for. Although having a lower GPA score might make things a bit more difficult, it certainly won’t be impossible to get accepted.

Admission to business school is notoriously competitive, but a lot of business schools can be flexible when it comes to applications that demonstrate a lower than expected GPA. Showcasing other achievements and accolades are a good way to compensate for a low GPA, such as taking supplemental courses in calculus, microeconomics, or accounting.

Extenuating circumstances can also be taken into consideration and can give business school admissions committees a better overview of your academic performance.

A high GMAT or GRE test score can also significantly improve the chances of your application being accepted and set you apart from the myriad of other applications. Which brings us nicely on to our next point…

Again – not necessarily true. While the GMAT and GRE tests are indicators of performance and capabilities, the general rule of thumb is you’ll take the GMAT if you know you’re applying to study an MBA.

If you still aren’t sure which master’s program you want to apply to, taking the GRE is usually better. There are some considerable differences between the two, and deciding which one you take should be one of the first decisions you make before even applying to business school.

Test duration, design, structure and scoring system are different in both the GRE and GMAT tests, while the number of business schools accepting the GMAT and GRE also differ. For example, EGADE Business School accepts both the GMAT and GRE tests.

Not true. If it was, everyone would go. What business school does do, is equip you with a transferable, business-oriented skillset, nurture your networking skills, enhance your career prospects, and boost your credibility with potential employers. It’s up to you to take these opportunities and use them to your advantage.