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The most competitive MBA programs receive thousands of applications each year. Additionally, the acceptance rates for top MBA programs remain competitive. As a result, applicants are challenged with standing out and earning spots at top programs. MBA admissions consulting can improve their chances for admission.
So, how does MBA admissions consulting work?
Candidates who seek an edge at top tier programs often hire an experienced MBA admissions consultant. These professionals are also known as MBA application consultants or MBA consultants. MBA admissions consultants partner with candidates throughout the entire application process of applying for an MBA. It’s quite common for candidates to work with a consultant. In fact, one recent survey found that 72% of applicants at top 10 MBA programs utilized MBA consulting services.
In this article, we’ll discuss what an MBA admissions consultant does and how to select a qualified consultant. We’ll also discuss the ROI of working with a consultant and answer frequently asked questions about hiring an admissions consultant.
Here are the topics we’ll cover:
- What Do MBA Admissions Consultants Help With?
- What Do MBA Admissions Consultants Cost?
- How Do I Choose the Right MBA Admissions Consultant?
- The ROI of Working With an MBA Admissions Consultant
- Key Takeaways
- Frequently Asked Questions (Faq)
- What types of candidates should hire MBA admissions consultants?
- How are MBA admissions consultants different from GMAT or GRE tutors?
- How involved will the consultant be in the essay-writing process?
- How can an MBA admissions consultant improve my chances of getting accepted?
- Will MBA admissions consultants improve my chances of getting a scholarship?
- Are MBA admissions consultants worth it?
- What’s Next?
Let’s begin by discussing exactly what MBA admissions consultants help with.
What Do MBA Admissions Consultants Help With?
Admissions consultants partner with applicants from the beginning of the process to the very end. The MBA application process requires significant reflection and introspection. After all, candidates must leave the workforce for a full-time MBA program. They’re not only investing in an expensive graduate education, but also forgoing two years of salary.
In addition, admissions consultants help candidates understand what they’re getting into. In fact, many of them have earned MBAs at top programs. Consultants also have a strong understanding of the MBA admissions process, and will provide valuable advice to candidates. Many consultants leverage their knowledge and firsthand experience in MBA admissions, guiding candidates toward their dream MBA programs and future careers.
KEY FACT:
MBA admissions consultants leverage their knowledge and experience to help candidates throughout the application process.
Let’s discuss the key activities that admissions consultants perform.
Key Activities for MBA Admissions Consultants
There’s a common misconception that admissions consultants just edit application materials, like resumes and essays. However, there’s much more to the process. Generally, admissions consultants serve as sounding boards and advisors throughout the entire application process.
To start, consultants assist candidates with developing a strategy and approach for their applications. These activities may include developing her personal brand and shaping her career goals. A consultant also helps a candidate develop her risk profile and select the appropriate MBA programs.
Additionally, admissions consultants advise candidates with developing application materials, such as resumes and essays. These components require introspection and reflection. Resumes and essays often take a significant amount of time to develop. In fact, candidates spend dozens of hours on a single MBA application. The more challenging applications, such as Stanford GSB and Harvard Business School, can require even more time.
Here’s a summary of key activities that admissions consultants support in the application process:
- profile evaluations
- feedback on GMAT or GRE scores
- MBA application strategy
- personal brand development
- post-MBA career goals
- school selection
- application deadlines
- round-based admissions
- application essays
- letters of recommendation
- interview preparation
- scholarships and financial aid
- waitlist assistance
- reapplications
KEY FACT:
MBA admissions consultants can help with everything from brand development and career goals to resumes and essays.
Next, let’s discuss what you can expect when you work with an admissions consultant.
What You Can Expect When Working With an MBA Admissions Consultant
Generally, admissions consultants will provide feedback —verbally and in writing — at key points. For example, when an admissions consultant and candidate kick off, they discuss the applicant’s motivations, goals, timeline, and priorities. The admissions consultant aims to meet the applicant’s needs, schedule, and working style. This fosters the development of successful MBA applications.
Many admissions consultants deliver services through live communication (phone calls or video meetings) and offline work (such as email and other written communication). As a result, a candidate collaborates with her consultant on her own schedule.
KEY FACT:
An MBA admissions consultant will work with you on your own schedule throughout the application process.
Let’s now discuss what an admissions consultant cannot help you with.
What MBA Admissions Consultants Can’t Help You With
Admission consultants don’t directly write materials for applicants. Instead, they coach candidates through the development of materials, helping with edits and other feedback. MBA candidates are expected to create their own work. Additionally, applicants sign each MBA program’s Honor Code. In other words, candidates must confirm that they did their own work. It is not recommended to work with consultants who will do the writing for the applicant.
Additionally, admissions consultants will not ask for favors from MBA admissions committees. In general, consultants follow a code of ethics. These standards are set forth by groups like the Association of International Graduate Consultants. The best consultants act ethically and responsibly in their role as coaches and facilitators of the application process.
KEY FACT:
An MBA admissions consultant will not write your application materials for you or ask for favors from admissions committees.
Now that you know what admissions consultants bring to the table, you may be wondering how much they cost. Let’s discuss.
What Do MBA Admissions Consultants Cost?
The cost of hiring consultants varies, depending on a number of factors. These factors include the consultant’s location, the reputation of her firm, and her years of experience. Admissions consultants based in the U.S. are often the most expensive. Generally, U.S.-based consultants have strong experience and are well-connected with top U.S. MBA programs. There are experienced consultants available in other countries, too. Consulting services range from hundreds to thousands of dollars.
KEY FACT:
The price of admissions consulting varies based on several factors but typically ranges from hundreds to thousands of dollars.
Next, let’s discuss the typical fee structure of admissions consultants.
What Is the Typical Fee Structure for MBA Admissions Consultants?
Admissions consulting firms each have different fee structures. However, many firms offer candidates hourly or package options. Hourly fees range from the low $100s and upward. The best MBA admissions consulting firms charge higher hourly fees. With this model, consultants track their time on every activity, includingphone calls, essay reviews, interview prep, and more.
Package consulting fees typically start in the low $1,000s. The more established MBA admissions consulting firms charge higher package fees. With this model, consultants offer unlimited services without tracking time. While these are the two most popular options, there may be other ways that applicants work with consultants.
KEY FACT:
Consulting services are typically available in hourly or package options.
So, what should you budget for admissions consulting? Let’s discuss.
What to Budget for an MBA Admissions Consultant’s Services
Every candidate has unique goals and requires personalized support. As such, there’s no one-size-fits-all recommendation for how much to spend. Applicants who are serious about the process and want to improve their chances for admission see MBA consultants as an investment in their future.
TTP PRO TIP:
View MBA admissions consulting as an investment in your future.
At this point, you may be wondering how to select the right admissions consultant. Let’s discuss.
How Do I Choose the Right MBA Admissions Consultant?
MBA application consulting services are designed to meet the personalized needs of each individual applicant. Candidates often invest hundreds or thousands of dollars, so they must find a good fit. Let’s discuss what to look for when selecting an admissions consultant.
Key Criteria for Selecting an MBA Admissions Consultant
The right consultant can take an applicant’s candidacy to the next level. It’s important to consider several criteria when selecting a consultant. When evaluating consultants, ask the following:
- Experience: How many years of experience does the consultant have? Which programs is the consultant most familiar with? Does the consultant have experience on an MBA admissions committee?
- Commitment: What is the consultant’s level of commitment? Does her commitment match what the candidate needs?
- Personal brand: How does the consultant develop a candidate’s personal brand? How will the consultant’s advice improve an applicant’s chances for admission?
- Personality: Will the consultant and candidate work well together?
- Belief: Does the consultant believe in the applicant’s ability to succeed?
The last point is critical for a candidate and consultant to establish trust and build a productive relationship.
TTP PRO TIP:
Carefully evaluate admissions consultants to find one with whom you can build a productive relationship.
Let’s now discuss some marketing tactics that you can ignore when selecting an admissions consultant.
Marketing Tactics to Ignore
Many business school admissions consulting firms and consultants use a variety of marketing tactics to attract clients. These tactics are designed to impress potential clients and win new business. Some marketing tactics may be useful, such as five-star reviews, and testimonials from real clients. However, other marketing tactics may be dubious, such as “success rates.”
The admissions process changes each year, as does the candidate pool. And of course, different candidates have different goals. As such, a success rate is generally not the best way to assess the quality and fit of an admissions consulting firm or consultant.
TTP PRO TIP:
Be skeptical of “success rates” touted by admissions consultants. Instead, look for reviews and testimonials from clients.
Let’s now discuss some marketing tactics that you can ignore when selecting an admissions consultant.
The ROI of Working With an MBA Admissions Consultant
Consultants are dedicated to helping applicants produce excellent applications. Many wonder whether MBA consultants are worth it? The process can help applicants gain admission to elite MBA programs. Additionally, applications can help applicants win thousands of dollars in scholarship money. Candidates who successfully navigate this process are generally happy with the outcomes.
Sometimes, calculating the ROI of working with a consultant is an individual judgment. This calculation is based on a variety of factors. For example, many candidates who work with an MBA admissions consultant report that they are happy with their applications. They also are satisfied with their choices in MBA programs. However, others might not have found the right fit with a consultant and may be dissatisfied with the outcome. That’s why it’s so important to choose the right consultant and align expectations.
Calculating the ROI of working with a consultant is an individual judgment.
Key Takeaways
Consultants can make a tremendous difference in improving a candidate’s MBA applications. However, applicants must carefully consider the investment, along with the potential upside. Remember, consultants cannot make guarantees about application decisions. Admissions consulting is a valuable investment to ensure that applications resonate with admissions committees and improve one’s chances for admission.
Frequently Asked Questions (FAQ)
What types of candidates should hire MBA admissions consultants?
There is no single type of candidate that benefits from MBA admissions consulting. Instead, there are many types of candidates who can learn from experienced consultants. For example, applicants with traditional business careers work with consultants to differentiate their candidacies. Additionally, less traditional candidates and those from an underrepresented minority (URM) groups can also benefit by working with consultants. These candidates learn from the guidance of experienced consultants to position themselves effectively.
How are MBA admissions consultants different from GMAT or GRE tutors?
MBA admissions consultants help candidates with their application materials. These materials include the resume, application essays, short answers, letters of recommendation, interviews, videos, and more. GMAT and GRE tutors help applicants navigate prep for standardized exams.
How involved will the consultant be in the essay-writing process?
Generally, consultants assist with strategy, brainstorming, outlines, and some editing to facilitate the essay-writing process. Consultants will not write resumes or application essays or other materials on behalf of applicants.
How can an MBA admissions consultant improve my chances of getting accepted?
Consultants share best practices, knowledge of top programs, and expertise about the application process. This collaboration generally produces applications that are stronger than what a candidate produces on her own. There are no guarantees of admission, but a candidate’s chances for admission to top programs can be improved.
Will MBA admissions consultants improve my chances of getting a scholarship?
Stronger MBA applications are more likely to earn admission and scholarship awards. However, consultants don’t make admission decisions or determine scholarship awards. The best consultants enable their clients to win thousands –sometimes millions of dollars –in total scholarship funding each season.
Are MBA admissions consultants worth it?
Some candidates measure success by admissions decisions and scholarships. However, others measure their consultant by the support they received and the quality of their applications. It’s up to each candidate to determine the value of admissions consulting.
What’s Next?
If you’re serious about improving your chances for an elite MBA program, partner with one of Target Test Prep’s experienced MBA admissions consultants. Request a free consultation with one of our expert admissions consultants to discuss your goals and learn how we can improve your candidacy.
