Book on Picking a Business School

October 20, 1998

Contact: Jeffron Boynes, (312) 413-8702, [email protected]

UIC DEAN WROTE THE BOOK ON PICKING A BUSINESS SCHOOL

Choosing the right MBA program can be a lot like looking for a soul mate: there are a lot of attractive candidates, but it's critical for individuals to find the right match, says a University of Illinois at Chicago business school official.

"My colleagues in the industry and I agree it's very important for individuals considering going into a MBA program to find a good 'fit' or compatibility between an individual's needs, expectations of the program and what the school has to offer," says Shari Holmer Lewis, assistant dean of graduate business programs at UIC. She co-wrote Business School Admissions Adviser with a colleague from New York University's Stern School of Business and CUNY. "In some cases, an individual's needs will be best matched by a program that is nationally ranked or internationally known. In many instances, they will be better matched by a program that is more local or regional in scope," she says.

The book, published by Kaplan Educational Centers and Simon & Schuster, New York, is intended to be a general yet comprehensive guide to selecting a MBA program, and tackles the question of whether an individual should even enter a MBA program. It provides advice on how students can match their needs with program characteristics such as markets served, academic specialties, teaching methods, placement issues, financial aid and relationships with corporate recruiters. Holmer Lewis saw that most of the how-to books already in stores "only mentioned fit and provided very little information about how to determine fit. More importantly, the books were more focused on helping candidates mount a campaign to get into only the top schools, when the reality is there are many fine programs to choose from." Although the top-ranked schools are known for the first-rate education they provide and the six-figure starting salaries of some of their graduates, Holmer Lewis argues these prestigious institutions can fall astoundingly short in one key area.

"Fit is absolutely the top selection criteria for any MBA program," says Holmer Lewis. "Not every school is for everybody and not everyone belongs at a Top 10 MBA program. For example, if a program does not fit the student, the student is less likely to be admitted to the program. If he or she is admitted, the student is less likely to be satisfied because the program has not met his or her needs. The student, therefore, is less likely to come out with the kind of job that he or she wants."

Holmer Lewis, who has been involved with admissions initiatives at UIC's College of Business Administration since 1985, says that students today are taking a more pragmatic approach when it comes to making MBA school selections. The MBA remains an exceptionally popular degree and its popularity has grown enormously outside of the United States. However, says Holmer Lewis, the rise in popularity has been accompanied by a rise in cost that has pushed issues of financial aid near the top of the selection checklist.

"The issues of financial aid and perceived value are also addressed in the book," she says. "The perception is that MBAs are incredibly expensive and that cost is an obstacle that cannot be overcome. The reality is that there is a great deal of financial aid available. You just have to be aggressive and seize the opportunities." Information for the book was gathered from a sampling of a wide variety of programs accredited by the American Assembly of Collegiate Schools of Business.

[Editors: On Oct. 22, Lewis will host the Graduate Management Admission Council's MBA Forum at the Hyatt Regency Chicago on the Riverwalk, from 4 to 9 p.m]

-UIC-