re: MBA

I was forwarded the link to this thread by a friend and I would like to make a few comments.

I graduated from LSU in undergrad and am currently a first-year MBA student at a top-40 school.

For anyone seriously looking to pursue an MBA - You should take the GMAT before deciding on any schools. I would advise at least getting the Princeton Review book to prepare. Your GMAT score, combined with your undergrad GPA and experience should give you a decent idea of where you stand.

Once you know where you stand, subscribe to some online publications that should give you information about the average admitted student data(US news for $15 a year and/or Princeton Review online service). Look at the 10th - 90th percentile for the GMAT. Ideally your GMAT should fall within that range

Next, you want to apply to at least three schools, and no more than six. This is because you cannot assume that you will get into all the schools you apply to, but at the same time you don't want to stretch yourself too thin by applying to too many schools. In this mix, you should have the following:

1) "Safety" schools that you feel you have a 90% chance of getting into and your "stats" generally exceed those of the average student (1 to 2 schools).
2) Schools where you feel your "stats" are equivalent to the average student who attends there (1 to 2 schools).
3) "Stretch" schools where your stats are below the average, but your GMAT score is still above the 10th percentile (grades are usually less important)(1 to 2 schools).

When deciding these schools, you should factor in "fit" as much as rankings. I would highly advise doing some research on each school you are considering.

Here's a good free resource if curious about rankings:
LINK

I would NOT advise limiting yourself to LA for schools. If you are looking to stay closer to home, I would advise schools in Texas. The following are consistantly considered better than LSU AND Tulane year after year (listed from best to worst):

1)University of Texas
2)Texas A&M
3)Rice
4)SMU

If you are absolutely determined to get your MBA in LA, I would apply to both Tulane and LSU. Tulane is expensive, but usually gives hefty scholarships. You really can't compare the two at this point from a financial perspective until you receive financial assistance offers from each. Overall, I would consider Tulane over LSU. The last I checked, the average MBA graduate from the Tulane makes probably about $20K more a year than the average MBA graduate out of LSU. The pricier option up front could make you more money in the long run.

Hope this helps.

Great post! I would like to add a couple small bits of criticism though.

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Next, you want to apply to at least three schools, and no more than six. This is because you cannot assume that you will get into all the schools you apply to, but at the same time you don't want to stretch yourself too thin by applying to too many schools. In this mix, you should have the following:

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I don't think 6 schools is something you should actually limit yourself to, especially if you are applying to the elite schools where acceptance is almost a "crap shoot."

I think a better piece of advice is to make sure you spend the appropriate amount of time on each application, no matter if it is 6 or 15. I would agree that one should not apply to less than 6. I think your advice on safe, average, and over the top is spot on.

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1)University of Texas
2)Texas A&M
3)Rice
4)SMU

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I would have it as:

1) Texas
2) SMU
3 and 4) Not sure b/t A&M and Rice.

Just some small difference in opinion, but overall, an excellent post!

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Rice is one of the better schools in the country man.

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I realize this...but MBA rankings I have seen have had SMU ranked around #20 nationally. Rice has never been mentioned.

Rice = best undergrad in Texas.

I would also arse Trinity as a top MBA in Texas, especially if you want the small school environment.

Thanks lynxcat! I understand that some people think a "shotgun" approach is better. I just happen to disagree. I think that when they interview you it's good to be on top of what the school is all about, which is difficult to do when you are having to do research on 15 different schools. Just my opinion.

As far as how I had the Texas MBA PROGRAMS (not necessarily schools overall) ranked, that comes straight from the highest-regarded ranking publications that I had summarized in the previous link. Check it again if you wish:
LINK

(clue: look at the bottom)

Sbreve, Do you mind sharing your GMAT/GPA, what schools you applied to and what the response was? I am wondering how well an LSU undergrad is received by other universities.

I'll also put this on the table...

How much work experience do you need to have a legitimate shot at a top 20 MBA program?

I am hesistant to go through all the work of applying if it is all for none due to lack of work experience.

(Just assume that GPA and GMAT scores are both at expected levels for the school)

Would three major internships during college/the summer be enough to put me over the edge?

Three internships is at least similar to a year of work experience...right?

I am stuck after I graduate and don't know I will be doing...

I think most schools only count post-graduate work experience. You can verify this by contacting the schools. It's better to get at least two years experience before you start. Some people get in with no experience, but only a few. Sometimes joint JD/MBA students are given special consideration since most law students go in staight after undergrad.

I will say, however, that the average experience data posted for the schools is sometimes inflated, because there are sometimes some older students who attend and have 15 years or more experience. Therefore, the median is probably lower than the mean.

All in all, you will get more out of it if you have at two years or so of post-graduate experience. I'd say work for a couple of years, save up some money and gain some experience, and then go back and get an MBA.

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I think most schools only count post-graduate work experience. You can verify this by contacting the schools. It's better to get at least two years experience before you start. Some people get in with no experience, but only a few. Sometimes joint JD/MBA students are given special consideration since most law students go in staight after undergrad.

I will say, however, that the average experience data posted for the schools is sometimes inflated, because there are sometimes some older students who attend and have 15 years or more experience. Therefore, the median is probably lower than the mean.

All in all, you will get more out of it if you have at two years or so of post-graduate experience. I'd say work for a couple of years, save up some money and gain some experience, and then go back and get an MBA.

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This is what I thought...unfortunately.

I have had some professors tell me they think I would be ready to directly enter graduate school, but I know I won't be able to get into the programs I desire right after graduation.

It would be nice to finish schoolwork directly after undergrad, but it doesn't look like it will be an option.

Those two years put an individual in a bit of a bind if they know what they want to do, IMO.

What do you do when you are in graduate school and need an income to live? Take out loans for 2-3 years while in school?

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This.

Unless you can save up enough to live off of for 1-2 years.

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Ouch, better save up.

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Or start kissing up to Mom and Dad.

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They have said they will cover all my schooling. But at that time...I will feel pretty lousy if they are still supporting me.

My brother is about to start college as well....and there is a decent chance he may go to a private school as well.