Most schools require the following: (1) transcripts from educational institutions where you've earned a degree (2) letters of recommendation from individuals with whom you have an academic or professional relationship (3) an essay identifying yourself, your career history, professional goals and your significant achievements, (4) GMAT, GRE or TOEFL scores, (5) a current resume, and (6) an application fee. An interview with the admissions committee is also required.
An MBA school may offer a traditional management program or one that is specialized to a particular business function or industry. As an example, the Wharton School of the University of Pennsylvania offers concentrations in the traditional business areas such as accounting, finance and marketing yet a student can also choose majors such as environmental and risk management, business and public policy and entrepreneurial management. A full-time student in the W.P. Carey School of Business at Arizona State University can choose such concentrations as strategic marketing and services leadership, financial management and markets or supply chain financial management.
Prerequisites may be necessary depending on your undergraduate coursework. Advanced courses are designed to enhance your business management and leadership abilities, to broaden your knowledge of the core business functions in an organization such as accounting, finance and marketing and to deepen your knowledge in your desired area of specialization.
Of the top 10 MBA schools ranked by U.S. News and World Report in 2010, the Haas School of Business in Berkeley had the lowest annual program cost of $36,000 for state residents while the Stanford Graduate School of Business was the highest at $51,000. Consider enrolling in an online MBA as an alternative to reduce costs. Of the top online MBA schools ranked by the Association to Advance Collegiate Schools of Business, the total program cost at each school was less than $31,500. Apply to scholarships, assistantships and fellowships to reduce costs.