Mindy Lampert couldn’t bear another day at her dead-end job.
Working a low-level administrative position in Toronto for a relatively meager salary with virtually no room for advancement was taking its toll, so the native of Moncton, N.B., decided to take charge and boost her academic credentials to improve her career prospects.
So, in January, 2009, Ms. Lampert enrolled in the Masters of Business Administration program at York University’s Schulich School of Business. The goal: to challenge herself academically and gain the expertise necessary to one day land a position as a management or supply-chain consultant once economic conditions improve.
“I found myself seeking intellectual stimulation through other routes in the jobs I had before and I thought, if these are the types of jobs I’m going to be having for the rest of my life, then I’m going to be a really unhappy person,” Ms. Lampert says.
It turns out she isn’t alone in that desire to pursue an MBA. According to a recent study by the Reston, Virginia-based Graduate Management Admissions Council (GMAC), 62 per cent of Canadian business schools saw an increase in full-time MBA program applications this year compared to last.
But, like so many candidates, Ms. Lampert asked herself a key question before taking the post-grad plunge: am I ready for the demands of a gruelling MBA program?
It’s a question that should be taken seriously, according to Niki da Silva, director of MBA admissions and recruitment at the University of Western Ontario’s Richard Ivey School of Business.
“I think there can be a tendency to want to rush the decision,” she says. “I think the best way to consider the timing is to understand when you’re ready to benefit from the experience, identify gaps in your development and career path, but also contribute to the MBA experience.”
For Ms. Lampert and the thousands of other Canadians who apply for MBA programs each year, these decisions loom large. Not sure if you’re ready to apply? Use this checklist to help decide whether the time is right for an MBA:
Is my head in the right place?: Jim Fisher, vice-dean at the University of Toronto’s Rotman School of Management, offers a blunt assessment of the MBA experience: “It’s a hell of a lot of work,” he says. “[Applicants] have to be in the frame of mind that says this is going to be a total immersion with a bunch of other people in exactly that same mind frame.” That means having the discipline to manage immense and challenging workloads, often while balancing work and other obligations, such as family. No matter what stage you are in the MBA decision process, Mr. Fisher recommends sitting for the Graduate Management Admission Test (GMAT) immediately after completing an undergraduate degree to ensure the highest score possible. “Scores decline with age … because people forget how to do all of those algebra and geometry problems,” he explains. “If you take your GMAT early, it’s good for five years and that will give you the highest GMAT score.”
