Getting an MBA program doesn’t guarantee success, even if you attend a top tier program. The truth is that as an MBA student you will face myriad challenges after entering your program, and it’s how you face those challenges that will determine your success.
An MBA program lasts just two years and, during that time, you’ll be overwhelmed with everyday demands that make it difficult to think about how to get the most of your experience.
To make sure you hit the ground running, we spoke with Graham Richmond, co-founder of Clear Admit and former Wharton School MBA Admissions Counselor, to get his detailed insight into what it takes to be a successful MBA.
Connect with Classmates
Building relationships with your classmates will set you up long after graduation. While most people focus developing relationships with professors, faculty, or business professionals, your classmates have just as much to offer. It’s who you know that can make the difference between getting the job, promotion, or investment, and remaining stationary. The key is to look at your relationships with your classmates as an opportunity and not a chore.
Graham Richmond
“Make a good faith effort to connect with and get to know those classmates you see day-in and day-out,” said Graham. “Most MBA programs break the student body up into bite-sized units—anything from 180-student ‘clusters’ to 60-student ‘cohorts’ or 6-person ‘learning teams’. These groups—while typically selected and set into motion by the faculty and administration—provide a unique opportunity for you to forge deep relationships with your peers. In short, don’t look at your learning team as just a chore or as a bunch of folks you are stuck with. Instead, take advantage of the opportunity that the school is giving you to really get to know a small group of classmates.”
However, just as it’s vital to get to know the classmates you see regularly, you also need to go out of your way to meet other MBA students.
“I recommend that MBA students branch out—beyond their learning team, cluster, section or cohort—and meet those in the program who they wouldn’t necessarily see on a daily basis,” recommended Graham. “The best way to accomplish this is to join a school club. Most business schools offer a variety of clubs that cover professional interests (consulting club), hobbies (salsa dancing club), sports (rugby club), and more. By joining a club, you will invariably meet students outside of your immediate classroom experience and forge connections that ultimately help you to get to know a greater percentage of your class.”
Experiment
Just as you should branch out to meet classmates outside of your immediate circle, you also need to branch out regarding your experience. Take a variety of classes, join clubs, and participate in extracurricular activities that will give you a broad range of experiences. The more you can learn to experiment with your likes, dislikes, strengths, and weaknesses the better you’ll understand yourself and what you want after graduation. In truth, your MBA is the perfect chance to discover who you are and who you want to be in business, and that requires experimenting outside of your comfort zone.
“Getting out of your comfort zone and doing something that forces you into contact with fellow students who aren’t necessarily following the same path as you can often result in deep friendships and a great lifelong network,” said Graham. “For instance, if you are a former accountant studying finance and looking to get into banking, you may want to join a culturally themed or performing arts club in order to break out of your comfort zone and broaden your horizons. Whether it’s a weekend away with a food & wine club or long hours perfecting a performance with your peers in an a cappella club, these outlets often provide great opportunities to build lasting friendships.”
Pushing your boundaries helps you not only socially but also academically. It will expose you to new ideas and ways of thinking that will help you long after you graduate. It will also keep you energized and excited for each new day of your program. Top tier MBA programs have rigorous curriculums that can be exhausting, but by stepping out of your comfort zone and trying new things, you can continually challenge yourself and stay refreshed for whatever life throws at you.
Use the “MBA Card”
Being an MBA opens up a lot of doors at the university and outside of it. Don’t be afraid to tell people you’re an MBA so you can more easily get access to information, data, conferences, etc. Think of the “MBA card” as a key that can be used for new opportunities.
“While the MBA doesn’t quite hold the cache of a JD or an MD, one thing is for certain, if you indicate to an employer, mentor, or anyone in a position of influence that you are currently pursuing a degree and that you have some questions, doors typically open much faster,” Graham explained.
However, you should be careful about how you play the “card.” Demanding information or opportunities as a “right” of an MBA student can have the opposite effect. It’s all about how you approach the situation.
“I do think it’s important that candidates avoid being boastful about it—an intellectually curious graduate management student looking to connect with a CEO to learn more about a specific issue will go over much better than the MBA student demanding that HR grant him an interview because of his soon-to-be-conferred degree,” said Graham.
Remember, pursuing an MBA grants you certain unique capabilities that shouldn’t be ignored. If you need something for your program, your internship, or your future career, don’t be afraid to speak up about who you are and why you need it. The “MBA Card” is useful as long as it’s not overused.
Be Yourself
Don’t compare yourself to your peers or try to be something you’re not. While it’s natural to benchmark yourself against the other students in your class, it doesn’t always work out for the best.
“I think that it is natural for MBA students to enter a program and feel a bit overwhelmed by the caliber of those around them,” said Graham. “Of course, that feeling can lead to either a healthy dose of humility (a good thing) or a bit of chest-puffing/cocky behavior (a not-so-good thing).”
The best thing you can do is pay attention to your classmates, but not use them as your benchmark for success. Instead, compare yourself to where you were when you started your program. The beautiful thing about the MBA is that it draws the best individuals from around the world from various backgrounds and with different goals, but that means it’s more critical than ever to find out who you are and to stick by it.
“Some candidates get swept up in the herd-mentality when it comes to applying for jobs in strategy consulting,” warned Graham. “In short, because so many business school students have an interest in consulting, it’s easy for others—entrepreneurs, social impact workers, or Fortune 500 candidates—to begin feeling uncertain about their path and to ‘throw their hat in the ring’ as it were. The problem with this is that those students often lose sight of their primary goal and end up spending valuable time on a process (strategy consulting recruitment) that could have been better spent pursuing other activities more in alignment with their goals.”
When you’re thrown into an environment with new people and unique opportunities, it’s easy to do things that don’t interest you. Don’t focus on what everyone else is doing; do what you want to do. That’s how you’ll get the most out of your program.
Gather Information
MBAs have access to top-level classes, corporate presentations, and a vast network of professionals. Those opportunities should not be taken for granted. Take the time to go to informational interviews and focus on schoolwork. Remember, the reason you’re going to business school is to improve your skillset and gain valuable experiences. Learn as much as you can about every concept taught in your classes, the industry you want to go into, the companies you like, and the type of individuals who typically work in the role you want.
There’s no substitution to leveraging your network and MBA program to learn as much as you can about the future you’re working toward. It’s easy to get wrapped up in getting the grades or internships you want, but the truth is that every aspect of your MBA program will inform your decisions. Don’t be complacent, but actively seek the information you need to make the future you want.
At the end of the day, MBA success can be defined in a variety of ways, but if you want the value of your MBA to last long after graduation, then following the secrets to success, as outlined above, will give you the best opportunity. As for Graham, his best advice is the first secret: your classmates.
“Those who make the most of their time in the program will build long-lasting relationships with their classmates—and those relationships should stand the test of time with a little bit of nurturing and time spent keeping up with each other via LinkedIn, Facebook or other relevant channels.”