Tips for Finance Professionals Applying to an MBA Program

work in finance

Many business school applicants must work hard to prove they can handle quantitative classes such as finance, accounting, and statistics. If you work in finance, the admissions committee already knows you can excel in the core classes. That gives you one less thing to worry about as you craft your killer MBA application. But don’t rest on your laurels!

Because applicants who work in finance are overrepresented in the admissions pool, you’ll need to stand out from peers with similar backgrounds. As we pointed out in our previous posts (part 1 and part 2) on common MBA application mistakes, there’s a right and wrong way to attract the AdCom’s attention. We’ll wrap up today with the final things to avoid so you can make yours a successful MBA application.

Are you curious about your admissions odds as an applicant from an overrepresented industry? Contact us to talk strategy with a free 15-minute advising session with an SBC Principal Consultant.

Common Mistakes Made By Applicants Who Work in Finance

Mistake #8: Not thinking through the “Why an MBA?” question

Many firms expect analysts or other junior bankers to leave for an MBA after approximately two years. If you’re at this career crossroads, you’ll need to counteract the impression that the degree is a way for you to “check a box” before the next level in your career.

So, step back from your practical brain momentarily to access your creative side and develop your ideal career vision statement. You have exceptional skills—undoubtedly, an MBA will only add to your overall skill set. The hope is that you’ll arrive on campus with a burning desire to make the world a better place. Passion and vision are critical to the MBA admissions committee evaluation because they are essential to effective leadership.

Mistake #9: Thinking you’re too busy for extracurricular activities

The reality for many professionals who work in finance is that a demanding schedule rarely allows time for meaningful extracurriculars. What can you do when your work is your life? If your 80-hour work week didn’t allow time for community involvement, realize that not every extracurricular has to be outside of work. Look inside your company for those leadership opportunities that may have nothing to do with your day-to-day responsibilities.

work in finance

B-Schooled Podcast #104: The Importance of Extracurriculars and Community Service

And remember, not all volunteering requires a weekly time commitment. With your schedule, you’ll need to get creative to find flexible opportunities to contribute. Seek activities that aren’t face-time-based but instead focused on impact—or a small amount of weekend time. A track record of volunteering and community service—no matter how big or small—greatly strengthens your candidacy.

Mistake #10: Not letting your personality shine through

An MBA application is a hybrid between a business communication and a personal essay. While it’s essential to keep the focus and precision of a business writing exercise, you needn’t sacrifice the color of a personal essay. Don’t be afraid to be yourself, even if that means injecting humor, fear, or humility. Using your emotions effectively helps your essays come alive and shows that you are more than a list of accomplishments.

Investment Banking Career Path: Q&A with SBC Consultant Puja 

You already know that your work experience is impressive and a major selling point for your candidacy. But now you also know it’s imperative to highlight those extracurricular activities, hobbies, or interesting personal stories in your application and demonstrate that you’ve made a deep connection to the programs on your list. Avoid these ten mistakes commonly made by finance applicants, and you’ll offer the admissions committee a truly holistic picture of your candidacy.

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Stacy Blackman Consulting offers multiple services to meet your MBA application needs. From our All-In Partnership to interview prep, essay editing, resume review, and much more, we’ve got you covered. Contact us today for a free 15-minute advising session to talk strategy with a Principal SBC consultant.

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