MBA

General background questions on MBA studies

How can I identify the best MBA programs for my needs?

Over 600 universities and colleges offer MBA degrees. Three hundred programs are accredited by the American Association of Colleges and Schools of Business. To narrow down your choices and choose the programs which suit you, review MBA programs according to the following criteria:

accreditation
rankings (see www.usnews.com and www.businessweek.com)
specialization: each program offers various specializations, such as accounting, E-commerce, finance, marketing, management iInformation systems, hotel management, etc.
program profile: number of students, flexibility of the program, teaching methodologies, exchange program with other institutions, internships available for students, placement after graduation
personal considerations such as geographic location, costs and financial aid, length of program, etc.

Can I do an MBA if my undergraduate degree is not in business or economics?

Yes, indeed: MBA programs welcome students with Bachelor's degrees in a wide variety of fields. Some programs may require those who did not study business or economics as undergraduates to take a number of basic background courses in order to bring their knowledge and skills up to the level required for advanced studies in business.

What kinds of programs are available?

Traditional MBA: The most common program is the traditional MBA, a two year/4 semester program. In the first year the student has to complete "core" courses which include mathematics, statistics, finance, human resources management, general management, etc. The second year offers the possibility of selecting elective courses, focused on the student's field of specialization.

One year MBA: - The one year MBA is designed for students with a bachelor's degree in business or economics. Participants begin their studies by taking first year courses during the summer semester (June-August), and then, in September, they join in with the second year students.

Executive program: - Executive programs last for 1 year/2 semesters, and are designed for students with at least seven to ten years of work experience in senior positions.

What is meant by admissions "rounds" and "rolling admissions"?

MBA faculties schedule the submission of applications and the issue of letters of acceptance/rejection according to three main systems.

Deadlines: - The usual system entails submission of all applications for admission to a program by a single fixed deadline date. The more competitive programs usually require candidates to submit all materials by mid-January for admission to the academic year beginning 8 months later in September of the same year.

Admission in "rounds": In this system there are several deadlines for submission of applications to a given program. The first round, which is also called "early admission", usually has its deadline in November; the second and main round has its deadline in January or February; and the deadline of the third round is in March or April. It is not wise to delay application to the third round, since by then most of the places in the program have already been allocated, and thus the likelihood of being accepted is significantly lower.

"Rolling admissions": In the "rolling admissions" system, applications may be submitted at any time during the year.

Is it possible to begin MBA studies in January?

Some programs allow students to commence their studies in January instead of August/September. Consult program catalogs to determine whether it is possible to begin the program at mid-year and, if so, to learn of the application deadline for January admissions.

What are the admission requirements for an MBA?

In order to be eligible for admission to an MBA program, you must have received a Bachelor's degree with a Grade Point Average of at least 3.0 (roughly equivalent to 80 in the Israeli system).

At least two years of experience in full-time work are also a prerequisite for admission. Having said that, please note that the average length of work experience for entering students is four years. Work experience need not be exclusively in the field of business or economics.

An additional important requirement is two to three letters of recommendation, one to two of which should be from an employer. Other criteria employed in the evaluation of candidates are the candidate's resume and GMAT and TOEFL scores.

Finally, most MBA programs require that candidates submit three to five essays on selected topics, prepared according to guidelines provided by the university. EducationUSA Center sells study materials on how to write MBA application essays (see Order Materials).

Required standardized tests - TOEFL and GMAT

To register for the TOEFL and GMAT, just follow the instructions in the TOEFL and GMAT bulletins. You will take computerized version of the TOEFL in various test locations all over Israel and a computerized version the GMAT at the testing center in Ramat Gan. For furhter information and for registration please visit the TOEFL and GMAT sections in this website and the TOEFL and GMAT websites.

You should plan to take exams about one year before the date when you wish to commence studies in the US. US universities will not consider your application complete until they receive your official score reports. Students can see the scores (TOEFL and GMAT) once they have finished taking the test. Official score reports are usually received by mail within 3-4 weeks. You must request that your results be sent directly to the institutions to which you are applying.

The Education Center sells study guides for TOEFL and GMAT.

Financing MBA studies in the US

Unfortunately, there are very few MBA programs that offer scholarship assistance to International students. Check program catalogs for more information.

There are MBA programs which offer loans to their international students. Before taking a loan, make sure you know how you are going to repay it, and how a loan will affect your plans for later study and return home.