Tag: working professional mba (page 2 of 6)

Test Options for Working Professional & Executive MBA

Preparing for and taking an MBA admissions exam is one of the best ways to get your mind back into academic mode as you prepare for business school. 

 Working Professional and Executive MBA candidates have several options when considering how to complete the standardized test requirement in their application.  All applicants are required to submit a GMAT, GMAT Focus, GRE, or Executive Assessment (EA) score.

We will waive the testing requirement if: 

  • Expired (taken 5+ years ago) GMAT, GRE, or EA score is submitted 

or

In addition, studying for and taking the exam – for some, even taking it multiple times – can show the Admissions Committee your commitment to the competitive business school application process and how you may approach academic challenges as a student.  Our preference will always be a recent test score, however, we recognize that many students have other accomplishments and credentials that prove their ability to handle the rigors of our programs. 

This post contains a lot of information, broken down into three sections:  

  • Should I Petition for a Test Waiver? 
  • Which Exam is Right for You?  
  • Submitting Your Test Requirement 
  • Impact of Your Test Score  

Should I Petition for a Test Waiver? 

Standardized exams like the GMAT, GMAT Focus, GRE, and EA evaluate a candidate’s academic preparedness for the rigor of business school and is one metric used to compare candidates within a large pool of applicants.  Submitting a strong, valid test score will give the Admissions Committee an additional, relevant data point that may strengthen a candidate’s position for admission.  

Scholarship awards are another aspect to think about when deciding which test to submit. All of our Working Professional MBA programs– The Weekend MBA in Dallas and Houston, and the Evening MBA in Austin– award small recruiting scholarships to outstanding incoming students based on the merits of the application. While the committee reviews each candidate holistically when awarding scholarships, a strong, valid test score is one of the clearest ways to distinguish yourself.

Executive MBA candidates must have at least 8 years of work experience to apply, but Executive MBA students have an average of over 14 years of experience. If your work experience is below average and only have a bachelor’s degree, plan to submit the EA.

Submitting a Test Waiver

 A merit-based test waiver is available by request prior to submitting your application. Waivers/Exceptions are not available for applicants who have already sent scores to UT. 

To be considered for a test waiver, an applicant must have: 

  • A minimum of three years of substantive and progressing post–undergraduate work experience, preferably of an analytical or quantitative nature. 

AND at least one of the following:

  • Completion of an undergraduate degree, with a strong academic record, preferably with analytical or quantitative courses.
  • Completion of a graduate degree, with strong academic record, preferably in an analytical or quantitative discipline.

To complete the merit-based test waiver petition, candidates must submit a short statement highlighting the merits of their request, an up-to-date resume, and undergraduate and/or graduate transcripts. If you do not already have a UT EID, create one here.   

  • Submit the  General Test Waiver  petition form prior to submitting your application.   
  • A decision on your test waiver request will be shared within 5-10 business days after submission. Test waiver petitions must be submitted no later than 7 days prior to the application deadline for the round to which you are applying. 

Approval for the test waiver petition is merit-based and considers your work experience and academic history. The Admissions Committee will be assessing your academic and professional background, looking for evidence of demonstrated readiness –specifically in quantitative subjects –for the rigorous MBA curriculum. To improve the chances of petition approval, we highly advise applicants to have an overall GPA of 3.0 or more.   

The truth is that by removing one component from your application, your other components will carry more weight in the committee’s final decision.  

 As you evaluate your testing options or consider a test waiver petition, we challenge you to assess the quantitative data points on your application and think about what will strengthen your overall MBA candidacy.  While some applicants may not need a test score to build their case, other applicants may significantly enhance their chances of being admitted (and getting a scholarship) by having a strong test score.   

Which Exam is Right for You?   

The Admissions Committee does not prefer one test over the other in terms of demonstrating your preparedness for business school, but it is important to think about which exam is best for you as an individual. There are different reasons to consider taking the GMAT vs GMAT Focus vs the GRE vs the EA.  

While the GMAT, GMAT Focus, and GRE tests both have quantitative and verbal sections, they have noticeable differences. We encourage you to do your research and take practice tests to learn each test’s points of emphasis, and how they are scored.   

 When you’re considering an MBA program for a specific career path, it’s good to know what the recruiting landscape looks like. Be sure to educate yourself on choosing a test for your career search before starting your test prep.  

 Both The GMAT, GMAT Focus, and GRE are adaptive, which means that your success in answering questions correctly has an impact on the future questions you are given. But the tests deliver adaptive questions in different ways.  

  • The GMAT and GMAT Focus are adaptive by question. When you get an answer correct, the next question is more difficult, and when you get an answer wrong, the next question is less difficult. This also means that once you answer a question, you can’t go back to that question.  
  • The GRE is adaptive by section. If you do well on the first verbal section, you get a more difficult version of the next verbal section and vice versa.  

 We have included some more details about the GMAT, GMAT Focus, GRE, and EA below, but if you are unsure which exam is best for you, here are our tips:  

  • We recommend taking some practice tests! There’s a chance you may be more comfortable with one test format over the other.  At the end of the day, the choice of which exam to take is yours. 
  • Build in study time and leave yourself enough room on the calendar to retake an exam if necessary. If you’re not happy with your score, you can retake either test. While many candidates take the test only once thinking it will fulfill the requirement, others recognize that a second effort is likely to yield improvement. It comes at the cost of additional time and another test fee, but the payoff can be significant if it makes you a stronger candidate.
  • Make sure you submit your application as confidently as possible and with a score you feel good about. 

Submitting Current or Expired GMAT, GMAT Focus, GRE, or EA Scores  

For current scores, you must self-report your test scores in your application as well as have official score reports sent directly to UT– Austin by the testing agency. The date your official scores are sent to UT– Austin by the testing agency should be no later than the application round deadline, as it can take up to 3-4 weeks for new scores to be processed. If you are taking the GMAT, GMAT Focus, GRE, or EA online, allow up to two weeks to receive your score from the testing agency. You must have your test score in hand by the application deadline in order to submit your application.  

 For expired scores (5 years or older), you must self-report your score and upload proof of the test score in the application. Examples of proof for expired test scores include a score report you received previously from the testing agency OR documentation from another educational institution that previously received the score (e.g. for another graduate/terminal degree application).  

Impact of a Test Score  

Future Employment 

Before you make a final decision on your testing options or a waiver petition, it’s best to research some of your target companies or industries and determine two things:  

  • The extent to which they evaluate a test score in reviewing job candidates.  
  • Whether they have a preference for one of the tests. At McCombs, we have found that most top-tier consulting and investment banking firms do ask for a candidate’s test scores, and both industries historically have favored the GMAT.  

You should consider taking the GMAT, GMAT Focus, GRE, or EA as another opportunity to not only impress the Admissions Committee but also potential employers.  


Academic History
 

Does your undergraduate or graduate transcript accurately reflect your academic ability? If your GPA is low, and you do not submit a strong test score, the Admissions Committee may have concerns about your ability to succeed in the rigorous MBA curriculum.  

One other factor to consider is whether or not your quantitative ability shines elsewhere in your application. While many of our MBA students come to McCombs from non-quantitative majors, these applicants are typically able to prove their quantitative prowess through their test scores. If you come from a non-quantitative background and do not submit a strong test score, you will need to find other areas within your background or experience that can demonstrate your quantitative skills.   

At the end of the day, we want to make sure that you are set up to succeed academically in the program. If the Admissions Committee has concerns about your quantitative ability, it may impact your chance of admission, or you may be required to complete pre-MBA coursework prior to admission and/or prior to enrollment. 

 

Scholarships 

 Scholarship awards are limited to Weekend MBA in Dallas and Houston, and Evening MBA candidates, and are competitive and limited in number. Scholarship decisions are based on a longstanding holistic review process that considers your entire application and serves to assess the overall strength of your candidacy, including readiness for academic rigor, career goals, leadership potential, and fit with our program culture.  Submitting a strong, valid test score will give the Admissions Committee an additional, relevant data point that may strengthen a candidate’s position for scholarship awards. 

Please note the Executive MBA program does not provide scholarships. 

Summary  

As you evaluate your testing options or a test waiver petition, we challenge you to assess the quantitative data points on your application and think about what will strengthen your overall MBA candidacy.  While some applicants may not need a test score to build their case, other applicants may significantly enhance their chances of being admitted (and getting a scholarship) by having a strong test score. At the end of the day, being objective about the quantitative data points you present on your application will help ensure you put your best foot forward in the admissions process.  


If you have any questions during the application process, we’re here to help. Please visit our website for details on applying to each program and follow us on Instagram for an inside look into the Texas McCombs MBA.  

Reapplying to Texas McCombs

With each new admissions cycle, questions come in from those who have applied in the past about applying again to join the next class of Texas McCombs MBAs.  

First, having applied in a previous year is not considered a negative factor in your application.

We are pleased to see your continued interest in the program and will evaluate your new application on its merits and in the context of the new applicant pool, just as if you are applying for the first time. Below is an overview of important info and tips for reapplying to the MBA program that we hope you find helpful.
 

burnt orange button that reads "watch our reapplication webinar"

Application

All candidates reapplying are required to complete a new application. We have also updated our application components to include a cover letter, video assessment, and optional peer interview. You will be required to submit these new items and pay the application fee. Our cover letter prompt has changed from last year, so copying and pasting old essay responses from a previous application cycle is not recommended. In addition, rewriting your cover letter shows effort!  

Review the application process and components 

Learn more about the new application updates 

Official Transcripts

We keep your official transcript on file for one year. You will need to submit your transcripts again if you have taken any additional coursework or if you applied more than one year ago. After you apply, you can always review your application status on the “MyStatus” page to make sure you have up-to-date transcripts.  

Test Scores

GMAT, GMAT Focus, GRE and Executive Assessment scores are also kept on file for one year, and overall, scores are valid five years after the date the test is taken. Candidates also have the option to apply for a merit-based test waiver; however note that if you have already sent us official scores, we must consider them in the evaluation process. The McCombs Admissions Committee considers only the highest total submitted score in the evaluation of applications. 

Recommendation Letter   

Although not required, we suggest you submit a new letter of recommendation. Determine if another recommender may provide a more current, insightful, and thorough perspective on your experience. If you choose to submit a prior recommendation, you will need to email MBA Admissions with a request to resubmit.  

Video Assessment 

Reapplicants will be asked to complete the new 2023-2024 video assessment as part of their new application; due to differences in timing and questions, we will be unable to use any video assessments from the prior year. 

 How Have You Improved?  

While completing your application, you will be asked, “Since your previous application, what steps have you taken to enhance your candidacy?” The Admissions Committee reviews this answer closely so please ensure that you spend time reflecting on and explaining these improvements.  

Choosing to reapply to the MBA program shows perseverance and dedication. We encourage you to consider giving yourself a fresh start when you approach your new application. Think through and reassess your application, address any weak areas, and add new information that may be helpful in the admission process. 


If you have any questions during the application process, we’re here to help. Please visit our website for details on applying to each program and follow us on Instagram for an inside look into the Texas McCombs MBA. 

Good luck and Hook ’em!

Ready to Elevate Your Career? MBA Application Now Open

Full-Time, Working Professional & Executive MBA Candidates

Calling all aspiring business changemakers! McCombs School of Business at The University of Texas at Austin is thrilled to announce the MBA application for Full-Time, Evening, and Executive programs in Austin, as well as the Weekend MBA at Dallas/Fort Worth and Weekend MBA at Houston, is now open for Fall 2024 entry. With a tradition of excellence in business education and a commitment to fostering innovative leaders, Texas McCombs provides a transformative learning experience that prepares students for success in the ever-evolving global landscape.  

Application Components 

As part of the Texas McCombs MBA admissions process, all applicants are required to complete all application components. The Admissions Committee aims to holistically assess candidates’ academic, professional, and personal achievements. Our objective is to determine if you are a good fit for Texas McCombs and ensure we are the right school for you and your goals. There are no fixed criteria or weighted portions of the application.  

Unless otherwise noted in the respective MBA program sections below, the following application components are required this cycle:  

Test Scores: Standardized test scores are a part of the application. All programs accept test scores from GMAT, GMAT Focus, GRE, and Executive Assessment, unless applicants qualify for a waiver.  More on the test waiver petition later.

English Proficiency Test: International students must submit an English proficiency test score (TOEFL, IELTS) unless they qualify for a waiver.

Academic Transcripts: Applicants must upload official undergraduate and graduate transcripts (if applicable) from all colleges and universities attended. These transcripts provide insights into the applicant’s academic background and achievements.

Resume: Applicants are asked to provide a detailed resume or CV highlighting their work experience, educational background, and extracurricular activities.

One Professional Recommendation: A letter of recommendation is required, preferably from individuals who can attest to the applicant’s professional capabilities and potential for success in the MBA program.

Video Assessment: Applicants will participate in a video assessment, providing a unique opportunity for them to showcase their communication skills, personality, and passion for business. 

Application Cover Letter: The application cover letter is a critical means of learning who you are as an applicant and assessing your communication and writing skills.

Additional Full-Time MBA Application Components 

Optional Peer Interview: All MBA applicants may close out their application process and complete a short, optional virtual interview, allowing them to connect with Full-Time MBA students. 

Additional Working Professional & Executive MBA Application Components 

MBA Admissions Interview: Every Working Professional & Executive MBA candidate will complete an interview with a member of the admissions committee. The interview format is behavioral-based.  

Application Deadlines  

Texas McCombs offers multiple application deadline rounds to accommodate applicants’ varying schedules and to ensure they have ample time to submit their best applications. Applications must be submitted by 11:59 PM Central Time on the deadline date for each round. All MBA programs enroll annually every August. 

For the Full-Time MBA program, the deadlines for the upcoming year are as follows: 

Round 1: October 10, 2023
Round 2: January 5, 2024
Round 3: March 26, 2024*
Round 4: May 9, 2024

*Final deadline for international applicants

 

Applications for the Working Professional MBA program, including the Evening MBA in Austin and Weekend MBA at Dallas/Fort Worth and Weekend MBA at Houston, are accepted in four rounds.

Round 1: October 10, 2023
Round 2: January 23, 2024
Round 3: March 26, 2024
Round 4: May 28, 2024

 

Applications for the Executive MBA are accepted in three rounds. 

Round 1: October 10, 2023
Round 2: February 13, 2024
Round 3: May 28, 2024

Test Requirements and Waivers  

To provide MBA candidates with additional flexibility, applicants have more options than ever before when considering how to complete the standardized test requirement in their application. All applicants are required to submit a GMAT, GMAT Focus, GRE, or Executive Assessment (EA) score. We will waive the testing requirement if: 

  • Expired (taken 5+ years ago) GMAT, GRE, or EA score is submitted 
  • General Test Waiver (merit-based) is approved 

Standardized exams like the GRE, GMAT, GMAT Focus, and EA help us to evaluate a candidate’s academic preparedness for the rigor of business school and is also one metric used to compare candidates within a large pool of applicants. However, there are some scenarios where a candidate’s application might shine without the standardized test. Learn more about the criteria required to apply for a general test waiver. 

Once the GMAT Focus is launched in late fall, Texas McCombs will accept both the current GMAT test type and the new GMAT Focus test type.  


Full-Time MBA 

The Full-Time MBA program at Texas McCombs is designed for individuals seeking an immersive and transformative business education experience. With a rigorous curriculum, a unique and talented cohort, and unparalleled networking opportunities, the Full-Time MBA program prepares graduates to excel in their careers and make a significant impact in the business world.  

Looking for more detail on the Full-Time MBA Application Components? Click here to access a curated list of blogs on this topic.  

Working Professional MBA 

The Working Professional MBA program is tailored for ambitious professionals who wish to pursue an MBA while continuing to work. Offered in the evenings in Austin or on alternating weekends in Dallas/Fort Worth or Houston, this program allows students to balance their professional and academic commitments effectively. With a focus on flexibility and practical learning, the Working Professional MBA program empowers students to enhance their leadership skills and advance their careers without interrupting their work schedules. 

Looking for more detail on the Working Professional & Executive MBA Application Components? Click here to access a curated list of blogs on this topic.

Executive MBA 

The Executive MBA program is designed for seasoned professionals with extensive leadership experience. Through a blend of dynamic classroom sessions and experiential learning opportunities, the program equips executives with the knowledge and insights necessary to address complex business challenges confidently. The Executive MBA program also fosters a strong sense of camaraderie among participants, creating a valuable network of high-impact business leaders. 

Looking for more detail on the Working Professional & Executive MBA Application Components? Click here to access a curated list of blogs on this topic.  

Our Commitment to You 

Our goal is for these application components to exemplify our commitment to a human-centered, future-focused approach. We deeply value each candidate’s individual journey and recognize the potential they bring to our program.  

Ready to join the ranks of successful Texas McCombs MBA alumni and take the next step in your career? Join us as we shape a class of talented individuals with different perspectives, pioneering a path toward a brighter and more impactful future in business education. The application is now open, and we look forward to reviewing your submission. 


If you have any questions during the application process, we’re here to help. Please visit our website for details on applying to each program and follow us on Instagram for an inside look into the Texas McCombs MBA. 

Good luck and Hook ’em!

Discover the Redesigned Evening MBA Program at Texas McCombs

Reduced Program Duration, New Electives, and Expanded Networking Opportunities

The redesigned Evening MBA program ranked No. 6 in the country (U.S. News & World Report, 2023) has been streamlined and now provides a flexible pathway to your MBA, with a reduced program duration, new elective offerings, and expanded networking opportunities. These valuable enhancements, detailed below, will take effect for our next incoming class of Evening MBA students, who will start the program in August 2024. Applications will open in August 2023.

Reduced Program Duration

The Evening MBA program is streamlining the program duration from 28 to 21 months to allow for greater flexibility and efficiency for busy professionals. Now, you can earn your MBA faster with the high-quality education that Texas McCombs is known for. It’s an accelerated path to achieving your career goals, without compromising on educational excellence.

Tailor Your Degree with New Electives

Evening MBA students experience a comprehensive cohort-based curriculum designed to enhance their understanding of core business principles. The new curriculum will have five electives, allowing students to dive deeper in areas of interest, which is especially important in today’s dynamic business landscape. The entire program and its elective courses will all be offered in-person, in Austin.

  • The new curriculum dedicates more credit hours dedicated to technology, leadership, and international business.
  • Two flexible core electives on technology and global management. Three general electives of your choice will be offered from a curated selection of courses.
  • Examples of electives include Investment Theory, Artificial Intelligence & Machine Learning, Product Management, Strategic Corporate Social Responsibility, Advocacy, Art and Science of Negotiations. Elective topics are subject to change.

More Opportunities to Network and Build Your MBA Community

We understand the value of building a strong professional network. That’s why you will have more chances to connect and collaborate with other Working Professional MBA students in our Dallas and Houston programs through shared electives, traveling on the global trip together, and participating in Academic Intensives. These interactions will not only enrich your learning experience but also provide valuable connections that will benefit you throughout your career. At Texas McCombs, we believe that networking is a vital component of your MBA journey, and we are committed to fostering a supportive community.

Exceptional Faculty and Engaging Learning Environment

Among the great things staying the same include our world-class, Texas McCombs faculty. Our professors are passionate about teaching and providing you with a transformative educational experience in a dynamic and collaborative learning environment. Also staying the same are business foundations offered through the core curriculum and capstone, McCombs+ Experiential Learning and Leadership Fellows, award-winning career management support for life, and Academic Intensives – all of which will be delivered in our new 21-month, Monday and Tuesday evening format. Here, you will have opportunities to engage in real-world projects, case studies, and interactive discussions, and you can apply your knowledge immediately to your work the next day.

What’s Next?

At Texas McCombs, we are committed to providing a human-centered, future-focused business education that equips you with the skills, knowledge, and network to thrive in today’s competitive business world. Whether you’re looking to advance in your current role, switch careers, or start your entrepreneurial journey, our program is designed to empower you to achieve your goals. We are excited about the possibilities this redesign brings and look forward to supporting you on your journey to success.


Sign up to receive Evening MBA news, and register for an admissions event to meet program staff, current students, and alumni. Applications for the Evening MBA will open in August 2023. Questions about the Evening MBA? Contact: TexasEveningMBA@mccombs.utexas.edu

Maximizing Your Potential: Exploring the ROI of a Texas McCombs MBA

This MBA Insider content comes from Christie Jenkins, Senior MBA Recruiting and Admissions Officer, Working Professional MBA.


There’s a saying in undergraduate admissions that a student’s decision on where to go to college ultimately boils down to the 3 P’s: price, proximity, and prestige. I’m not aware of a 3 P’s equivalent for MBA programs, so allow me to invent one. The 3 R’s: Rankings, Recruiting, and ROI.

It’s no secret that future MBA’s are a little more objective and outcomes-focused with this decision than they may have been when choosing a college for undergrad. Undergrad is all about the experience, personal growth, and the journey as well as the destination. Those things certainly matter for your MBA selection too, but with an added emphasis on results and tangible benefits. Objectively, why should someone spend 2 years and $100,000+ on an MBA? What is the value?

RANKINGS

Or maybe this R should be reputation? Either way, Texas McCombs excels at both. U.S. News and World Report ranks our MBA programs as the following:

#6 Working Professional MBA

#14 Executive MBA

#20 Full-Time MBA

It goes without saying that our MBA programs are the best in Texas. Our programs also benefit from The University of Texas at Austin brand. Visit anywhere in the world and someone will be able to tell you about the burnt orange Texas Longhorns, and possibly that “What starts here changes the world.” Simply put, you will never have to explain what UT is all about. People know.

RECRUITING

Employers want to hire Texas McCombs MBAs. We partner with more than 400 employers annually, and the list is always growing. A few of our top recruiting partners who hired 10 or more MBAs last year include Amazon, Dell Technologies, PricewaterhouseCoopers, Boston Consulting Group, and Deloitte Consulting.

Texas has the fastest-growing job market in the country, according to the U.S. Bureau of Labor Statistics, and has been ranked No. 1 Best State for Business for 18 consecutive years. Texas is also home to the most Fortune 500 companies, with more than 135 companies that have relocated their headquarters to Texas since 2020. This list includes AT&T, CBRE, Charles Schwab, Exxon Mobil, Hewlett Packard, Oracle, Tesla, and more. Add in that Texas has no state income tax and a comparatively low cost of living, and you can see why this is a great place to live and work.

Texas stats graphic for the report.

Source: Texas Economic Development & Tourism, Office of the Governor.

To help you land those jobs, you’ll also have unlimited access to career coaching, even after you graduate. Our career coaches can help you refine your brand, prepare for interviews, negotiate your starting salary, and much more. They’ll be there for you as a student and after graduation, as MBA alumni have lifetime access to career resources and coaches.

ROI

For those uninitiated in the MBA lingo, ROI, or Return on Investment, is a way to measure the profitability of an investment. Another way of thinking about this concept is the payback period, or how long it will take for an investment to pay for itself.

According to the GMAC Corporate Recruiters Survey, bachelor’s degree holders from the United States are expected to earn a median of $50,000 annually. The median starting salary for an MBA graduate is $95,000 – and that’s just a graduate of any MBA program!

Source: GMAC Corporate Recruiters Survey – 2022

For a Texas McCombs Full-Time MBA grad, the average starting salary for the Class of 2022 was $145,000. Therefore, the average incoming student can expect a $95,000 pay increase at the time of graduation ($145,000 McCombs MBA salary minus $50,000 bachelor’s degree holder salary). Compare that to the cost of our MBA programs (between $105,100-$149,500) – you’ll see the typical payback period for a McCombs MBA is less than 2 years!

After your McCombs MBA investment has paid for itself, you’ll have a lifetime to reap the rewards. If you are in your 20s or 30s, with an expected retirement age of 65, then you could have 30 or 40 more years ahead of you in your career. Wouldn’t it be nice to make the most of your incoming-earning years? The earlier you start, the more time you have to benefit from your increased post-MBA salary.

 

According to Poets and Quants, the expected lifetime earnings of a McCombs MBA graduate is $6.35 million.

For those who want to see the numbers, here’s your ROI calculation: profit (or gross income minus cost) divided by cost. For a McCombs Full-time MBA, that is $6,350,000 – $105,100 / $105,100, which works out to an ROI of 59.42. Over the course of your lifetime, your MBA will pay for itself more than 59x.

Of course, this barely scratches the surface.

The true value of an MBA can’t be measured in dollars. It includes your personal growth and development, the networking and relationships you will build, the intrinsic value of gaining knowledge and confidence, job security, upward mobility, and much more.

Only you can calculate what an MBA will mean for your future, but hopefully, you are reassured to know that a McCombs MBA makes objective, financial sense in addition to being a great experience.


Ready to get started on your MBA journey? Visit Texas McCombs MBA to learn more about our programs, application components, deadlines, and upcoming events, or take a peek into student life on Instagram. Please reach out to the MBA Admissions Team with any questions.

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