Is getting into the University of Chicago Booth School of Business your dream?
Types of MBA programs at Chicago BoothWhile most applicants only look for acceptance to the Full-time or executive MBA Programs at Chicago Booth, the school offers a couple more to create a flexible option for those who cannot afford to commit the amount of time that the former programs demand. However, the full-time and the executive MBA programs are the ones that get the most press, i.e. are the more coveted of the programs. That in no way means that the quality of education for the part-time programs is any lower. Let’s look at the four different MBA programs available to applicants to Chicago Booth. Full-time MBA This is the standard run-of-the-mill MBA Program that most business schools offer. A two-year long residential MBA program for applicants who aren’t particularly sure about their post MBA industry.
The full time MBA program at Booth requires students to complete a 21-month course with 13 concentrations and 3-4 courses each semester.In 2018, Booth started offering deferred admissions to its full-time MBA program to increase its reach to students fresh out of undergraduate school or enrolled in a graduate course with no prior work experience at all. Weekend MBA and Evening MBA As the names suggest, Booth offers students MBA classes in the evenings, or the weekends. According to the business school, the only difference between the Weekend and the Evening MBA, and the Full-time MBA is the schedule. All three courses are taught by the same distinguished Booth faculty, and are provided the same career support. The Weekend and Evening MBAs are programs more suitable to working professionals with time boundation. Executive MBA Chicago Booth became the first business school to launch an Executive MBA program in 1943. Thus, having the exclusivity that the program has today does not come up as a surprise.
The Executive MBA Program at Chicago Booth is a 21 month long program with18 core curriculums.
The Executive MBA program is for students who are active members of the workforce during application and the tenure of the program.Once admitted to Chicago Booth’s Executive MBA program, students also need to provide a letter of support from their current employers, promising to let the student attend all the classes in the curriculum set by Booth’s faculty. Application Process The application process of Chicago Booth is very simple and straightforward. The application costs $250, and can waived in case an applicant reaches out the school to plead their case and the school agrees to it. Once an applicant’s application is vetted, and shortlisted, the school itself will reach out to the applicant to schedule an interview. Application process for Chicago Booth’s Full-time MBA Program
|Essay Questions||The application consists of three questions out of which one is optional. The optional question should be used to address any parts of your application that you believe require further explanation, for example, low GMAT Scores or GPA. The two essay questions do not have a word limit but should contain minimum 250 words each. Question1: How will the Booth MBA help you achieve your immediate and long-term post-MBA career goals? Question 2: Chicago Booth immerses you in a choice-rich environment. How have your interests, leadership experiences, and other passions influenced the choices in your life?|
|Professional Resume||A current professional resume must be attached to the application.|
|Letters of Recommendation||The Letters of Recommendations are available as a form which will be sent to your selected recommenders. Each applicant must submit two LORs; first one from a current supervisor, and the second form any professional or social acquaintance who can add value to your candidacy. The recommenders are asked to complete a skill set analysis on the applicant and answer two questions. Question 1: How does the applicant’s performance, potential, background, or personal qualities compare to those of other well-qualified individuals in similar roles? Please provide specific examples. Question 2: Please describe the most important piece of constructive feedback you have given the applicant. Please detail the circumstances and the applicant’s response.|
|Transcripts||The applicant must provide unofficial (scanned) transcripts from all of their post-secondary (post-high school) educational institutes. Official copies are requested only post-acceptance into the MBA course.|
|GMAT/GRE||The applicant must report their valid (no less than 5 years old) GMAT/GRE score on the application.|
|TOEFL/IELTS/PTE||Every applicant whose native language is not English is required to submit valid TOEFL/IELTS/PTE scores during the application process.|
Application deadlines 2019Applications will only be considered in a particular round if they have been submitted before 11:59 pm CST on the deadline of that round. Below is the submissions deadline and notification dates for Chicago Booth application in 2019. Deadlines for Chicago Booth’s Full-Time MBA Program
|Round||Submission Deadline||Final Decision Notification|
|Round 1||September 26, 2019||December 5, 2019|
|Round 2||January 7, 2020||March 19, 2020|
|Round 3||April 2, 2020||May 21, 2020|
|Early Deadline||Wednesday, October 2, 2019|
|First Deadline||Monday, December 2, 2019|
|Second Deadline||Monday, February 3, 2020|
|Final Deadline||Wednesday, April 1, 2020|
|Quarter||Application due||Launch||Classes Start|
|Spring 2020||January 6, 2020||March 12–14, 2020||March 30, 2020|
|Autumn 2020||June 8, 2020||August 21-23, 2020||September 21, 2020|
|Quarter||Application Due||Launch||Classes Start|
|Winter 2020||October 4, 2019||December 5–7, 2019||January 6, 2020|
|Spring 2020||January 6, 2020||March 12–14, 2020||March 30, 2020|
|Summer 2020||March 30, 2020||June 4-6, 2020||June 19, 2020|
|Autumn 2020||June 8, 2020||September 10-12, 2020||September 21, 2020|
Cost of attendanceSince the full-time MBA is the most sought-after MBA program at Booth, we will concentrate on that throughout the blog. A far as the other MBA programs go, with a little tweaking to the profile, considering the eligibility requirements of each program, one could get in by following a similar pattern of school research, answering essays, providing references, as the ones for the full-time MBA program. If you have had any contact with the world at any time, it is safe to assume that you know how the price of a commodity rises with the rise in its rarity. And an education like Chicago Booth’s MBA program is not only rare but also highly aspired. However, that isn’t the only factor in the price of a Chicago Booth education being high.
The tuition of the full-time MBA Program at Chicago Booth is $144,000. This however doesn’t include the living and other expenses and is merely the tuition for the program.To get a clearer idea of what a year of attending Chicago Booth, along with the tuition, living expenses, etc., will look like, take a look at the table below.
|Student Services Fee||$1,248|
|Health Insurance (estimated)||$4,600|
|Administrative Service Fee||$2,500 (first year only)|
|Lifetime Credentials Fee||$75 (a one-time fee charged in fall of the first year)|
|Room and Board||$22,185 ($2,465 per month)|
|Computer Allowance||$1,300 (first year only)|
- Merit-Based Scholarships
- Global Innovator Fellowships
- Industry Awards
- Leadership Awards
- Military Awards
- Regional Awards
- Yellow Ribbon Program
Salaries post-graduationAlthough the Cost of attendance at Chicago Booth is high, applicants still flock to the school every year to try and secure their place at the MBA Programs. While there are a lot of contributing factors to this, the one factor that is quite easily put into numbers is the salaries that graduates get right out of a Chicago Booth MBA Program. Look at this brief version of the employment report from Chicago Booth’s Full-Time MBA Program 2018
|Function||Median Salary||Median Sign-On|
|Corporate Strategy/Strategic Planning||$124,000||$23,525|
|Operations – Production/Supply Chain Mgmt/Logistics||$130,000||$45,000|
|Product Management (Tech)||$130,000||$50,000|
What does the Booth School of Business Admissions Committee look for in an applicant?One common statement that you will hear from any member of an admissions committee at a business school is, ‘Be yourself’. But what does ‘being yourself’ really mean? It’s not like you could have no work experience, low GMAT scores and GPA, no extracurriculars, and still get into a business school like Chicago Booth, right? The authenticity, that the admissions committee members talk about is the personality and career goals that an applicant shows through their profile. Booth admission committee members will overlook a slight deviation in your academic performance if your career goals, and personality seem like a perfect fit for the business school’s cultural and intellectual environment. Here are a few things you can do during application to make sure you present your best-self to the Booth Admission Committee members.
- Know yourself well
- Reveal your passion
To give a small example of how serious the school is about the statement mentioned above, out of the 2000+ billionaires all around the globe, 10 are Booth alumni. No one, no matter how lucky, cannot have a billion-dollar net worth without being at the top of their industry.While assessing your MBA Profile, the admissions committee at Booth will look for such potential. They will sift through your essays to see if you have the drive to make a change and an impact in society. So, if you are passionate about something, discuss it through your application. Mention the reasons and let the admissions committee members know that you have drive.
- Do your research
Rather than answering ‘Why Booth?’, try answering, ‘How does Booth’s location benefit your career?’, or ‘How is the program structure at Booth different from other top schools and how does that benefit you in particular?’.Basically, answer questions on a personal level.
- Let your diversity be your selling point
- Booth is not just a finance school
This is an important point to note for applicants because no matter what your goals are, Booth is well-equipped to help you achieve them. thus, when you fill out your Booth application, you focus shouldn’t be on making an application with a finance school in mind. Instead keep your goals as clear and authentic as possible.
- Consider yourself the interviewer
Cultural difference between Chicago’s Booth and Northwestern’s KelloggCulture is a big part of a school and a major factor in how a student would fare at their MBA program. If the student and the school culture don’t go well together, the chances of the student’s failure go up by a lot. This is why interviewed students ae always vetted for cultural fit by business schools. To better explain how important cultural difference is for a student’s performance, we only have to take a 30-min train ride from Booth to a business school that has almost the opposite culture.
Northwestern University’s Kellogg School of Management, a neighboring school to Chicago’s Booth, is a collegial school with a close-knit student community. The cultural fit at Kellogg can be described by words like outgoing, and collaborative. Not that Chicago doesn’t have friendly people, it has a much more competitive culture with Quant jocks and the likes filling up the student body.The difference doesn’t make one school better or worse in general, but it could make one school better than the other depending on which environment you would thrive in; collaborative, or competitive. Thus, keeping the culture in mind when you choose to get an MBA from Chicago Booth, or are writing the essays for you application to the school is a must if you want to increase you chances at an acceptance.