How to Get Into a Rice MBA Program? All You Need to Know
Nestled in the heart of Houston, Texas, the Jesse H. Jones Graduate School of Business of Rice University is accredited by AACSB and is one of the premier private B-schools in the USA. Shortly known as Rice Business, the B-school is reputed for providing hands-on learning opportunities to its students.
Rice University MBA programs have always focused on entrepreneurship, which reflects in its business school rankings. For example, the Princeton Review and Entrepreneur Magazine voted its Graduate Entrepreneurship Program the best for three consecutive years, 2020, 2021, and 2022.
The B-school is a part of Rice University’s flagship entrepreneurship initiative, Rice Alliance for Technology and Entrepreneurship. Rice Alliance hosts Rice Business Plan Competition, the world’s largest and richest student start-up competition, with $ 3 million in cash prizes.
Rice MBA Ranking
The Rice MBA ranking reflects the high standards the B-school has been maintaining for a long time. As a result, the B-school regularly features in the top 35s in the list of the USA’s best B-schools.
Rice MBA Program Types
Applicants can choose from five Rice University MBA programs based on their post-MBA goals and Rice MBA requirements.
- Full-Time MBA
- Professional MBA
- Executive MBA
- Online MBA (MBA@RICE)
- Coordinated and Dual Degree MBA
We will limit our discussion to the full-time MBA program, which attracts the most queries from international applicants. The full-time program is the traditional on-campus Rice MBA degree program of a 2-year duration. The program is ideal for those looking for a major transition in their career.
As a STEM-designated program, the MBA curriculum specializes in quantitative and data-analytic methodologies across various disciplines. This helps Rice University MBA students gain the problem-solving skills they are known for.
Rice MBA Deadlines
Following are the Rice MBA deadlines for the full-time MBA program for the class of 2025. The deadlines will end on the given dates at 12 noon central time.
|Round||Application Deadline||Rolling Decisions Released|
|1||October 7, 2022||Starting December 9, 2022|
|2||January 6, 2023||Starting March 15, 2023|
|3||March 31, 2023||Starting May 10, 2023|
Disclaimer:- Although the above dates are the latest ones per the b-school website, applicants are advised to regularly check the official website for any related announcements or updates.
Rice MBA Acceptance Rate
Rice MBA doesn’t disclose its acceptance rate. Fortune Education last reported the Rice MBA acceptance rate in 2020, which was 39.5%. However, study the latest class profile and the acceptance rate to have a clearer picture of your admission chances. And remember, take all this information as a guide to help you. It’s not the be-all, end-all number.
Rice MBA Class Profile
|Particulars||Full-Time MBA Class of 2023|
|Average Work Experience||5 Years|
Rice University MBA Cost
Before going further with the Rice Jones MBA admission process, let’s have a broad idea first about the Rice University MBA cost for an academic year.
|Particular||Annual Cost (in $)|
|Full-time MBA Tuition||66,000|
Disclaimer:- The above data is retrieved from the b-school’s official website to provide a rough estimate. Actual costs may vary. The school will post the new fees and costs in January 2023.
While the cost of pursuing an MBA is high, the return on investment is significantly positive as Rice Jones MBA grads routinely receive generous employment offers.
According to the 2021 full-time Rice MBA employment report, all the international students accepted employment within three months of completing their MBA. Moreover, the average starting salary of Rice MBA grads was $1,31,000, an impressive number considering the pandemic.
Unsurprisingly, Rice University MBA alums have a debt-to-income ratio of 0.32% two years after graduation, one of the lowest among business schools.
Rice University MBA Scholarships
Rice Business provides numerous merit-based scholarships that can help bring down the cost of tuition and overall expenses. All full-time MBA students are automatically considered for merit-based scholarships during their application review and are notified if awarded a scholarship at the time of Rice MBA admission.
Some important scholarships open to both US and international students are mentioned below.
Crownover Scholars Program
Apart from receiving financial support, Crownover scholars get an opportunity to work with Mr. James Crownover, the Rice University Board of Trustee Chair, and share his valuable experience of leadership and community contribution.
The McNair Scholars Program
Individuals with demonstrated academic excellence and outstanding leadership are considered for this award. The recipient of this program (only one chosen each academic year) receives full tuition benefits for the entire two-year program.
Rice MBA Application Requirements
One of the Rice University MBA admission requirements for applicants is to have a 4-year bachelor’s degree from an accredited US college or university or an equivalent degree from any other country.
Rice MBA Application Process
Create an online account by registering yourself at the Rice MBA application portal. This is the first step in the application process. Now fill out your online application with your personal details and complete the following application components.
Upload unofficial copies of transcripts for each degree that you hold. The transcripts should contain the following information.
Transcripts of International applicants who completed their bachelor’s program outside the USA should be reviewed by a third-party transcript evaluation service. You can use any of the below three companies for transcript evaluation.
- SpanTran: The Evaluation Company
- Educational Credential Evaluators
- World Education Services (WES)
Rice Business would consider the transcripts evaluated by any of the above three companies as official transcripts.
2. Standardized Tests
Rice University MBA application requires a valid GMAT score. Full-time MBA applicants may be eligible for a test waiver. However, it is advisable to secure a strong GMAT score which puts weight on your application. Try to score above 710-715 to optimize your chances.
Additionally, international applicants are required to submit a valid IELTS or TOEFL test score to prove their English language proficiency.
3. Professional Resume
List your work experiences and professional accomplishments in a professional resume. Use the following tips to write a good resume.
- Keep the resume short and crips, no longer than one page.
- Refrain from listing all your job duties. Instead, only highlight your responsibilities, especially the managerial ones.
- Highlight special achievements and awards.
The Rice MBA admission committee is interested in knowing you in person. So, use the section on extracurricular involvement in your application for this purpose. For instance, you can mention the groups you are part of, the expedition team you led, or anything that reflects positive vibes about your personality.
4. Letter of Recommendation
You are required to submit one letter of recommendation from your current or previous supervisor. However, if your immediate superior is not inclined to provide you with a recommendation letter, you must submit two letters of recommendation.
Rice University MBA programs use the GMAC Common Letter of Recommendation that can be used for multiple business school applications. The system will automatically send an electronic “Common recommendation” form to the recommender after you enter that individual’s contact information in your application.
Tip:- You can qualify for an application fee waiver if you know a current Rice MBA student or an alum. Just request them to write you a Build the Class referral.
(i) Short Answer Response
You need to write two 100-word responses sharing your short-term career goals in one and long-term career goals in another.
(ii) Creative Essay
You will need to write a 500-word essay on any of the two essay prompts mentioned on the b-school’s official website. Alternatively, you can choose to share a video with a 1-3 minute time limit on your chosen prompt.
(iii) Optional Essay
You can use the 500-word optional essay to provide any additional information you wish to clarify to the admission committee. Use this section to explain gaps in your employment or your past academic performance (if any).
6. Application Fees
Submit your Rice MBA application and pay a $200 application fee through a credit card or online banking. Once the application and Rice University MBA fees are submitted, the admission committee will start reviewing your application. If you are selected, the admission committee will notify you via email.
Among other things, Rice MBA students like the ability of course customization the most. Rice University MBA offers over 100 electives within various disciplines such as accounting, finance, entrepreneurship, and more. Thus, students can customize about half of their curriculum. Also, students get to work with real companies attempting to solve complex business issues they face.
Students also gain valuable insights by participating in various projects designed to contribute to experiential learning. For instance, the Action Learning Project is a team-based project spanning 13 weeks where student teams address challenges faced by a company and recommend actionable solutions for them.
At the end of the program, students come out of the B-school not just with an MBA degree but a wide knowledge and skillset to excel in the global business scenario.
FAQs related to Jones Graduate School of Business at Rice University MBA
1. Does Rice University accept 3-year bachelor’s degree?
Yes, Jones Graduate School of Business accepts three years bachelor’s degrees from international students. Students can apply directly from a bachelor’s program.
2. Are Rice MBA programs STEM-designated?
All Rice University MBA programs have STEM designation.
3. What concentrations are available for full-time MBA students at Rice University MBA?
Full-time MBA students can select from ten different concentrations given below.
- Organizational Behavior
- Operations Management
- Real Estate
4. What are the top industries that Rice grads go to after MBA?
Rice University MBA graduates find employment in many different industries per their domain expertise and concentration. However, as per the latest Rice MBA employment report, the finance and consulting sector together constitute the lion’s share of 53 %, followed by Petroleum/Energy (16.67 %), technology (14.07%), and other different industries.
5. I am from India. Can I finance my Rice MBA through an educational loan?
Many reputed Indian banks provide educational loans for pursuing MBA abroad, depending on your credentials. Additionally, you can consider Global Student Loan Corporation, a third-party loan facilitator that assists Indian citizens in securing educational loans.
However, consider loans only after exhausting all your Rice MBA scholarship options.