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Michael Adenuga on the eve of graduation

I had always known I would proceed for a master’s degree abroad immediately after completing my bachelor’s degree from Obafemi Awolowo University (OAU).  The main keys to getting into a top business school are early decision making, research and early application submission.

Early Decision Making

I made up my mind to go to business school during my fourth year in OAU. I also made decisions on my preferred course and country of study, though my plans appeared a bit odd at the time and most of my friends also considered it to be volatile. However, the earlier you make up your mind, the more likely you are to make the right decisions about the course and school you want to attend. As well, you are less likely to be dissuaded from pursuing your studies.

I observed that a higher percentage of my friends who had similar plans back then in school and made up their minds early made it to business school than those that decided much later.

Do your research

Global leading business schools are not hard to find; they are clustered in 4 countries (unless you want to go to Asia); United States of America, United Kingdom, France and Spain. Your choice of business school with regards to country should depend on the following criteria:

• Duration of your course: US is usually longer (typically 18-24months)
• Funding: UK is typically more expensive
• Language: France and Spain offer a good chance to learn a second language.

(This is not an exclusive list)

There is a need to understand few things about business schools.  A business school is usually a big department within an entire university and often has separate rankings from the university itself. For example, Manchester Business School ranks 6^th in Europe and 25^th in the world (3 years average; FT ranking) while University of Manchester ranks 9^th in Europe and 29^th in the world (The Times).

Also, a business school usually has its own academic culture which reflects in its model of learning. For example, Harvard Business School is strategy-inclined; Wharton is finance-inclined; Manchester is internationally-inclined and Columbia is economics-inclined.

Fee is also a key issue; some schools are extremely expensive. For Harvard, London Business School, INSEAD, Wharton, Stanford and MIT, you will be coughing up an average of N13million if you are considering an MBA or half of that if you are considering an MSc. On the other hand, you could still get into some good schools (with strong brands) for a comparatively lower such as, Manchester, Cambridge, HEC, IESE, Lancaster, Warwick, and ESADE. You can check the Financial Times business school ratings to get a comprehensive breakdown of the rankings.

Getting Admitted

Early application submission is key to getting admitted. Most business schools organise question-and-answer forums prior to a new session. You can always check their websites to find out if one will be taking place near you. It can be helpful to attend these events because they give you a feel of what being a student of that school is like. Usually, alumni, academic and admin personnel are present at these events to provide useful insights.

A good number of top business schools will require you to submit GMAT/GRE scores, essays and references. Check their individual websites to see the relevant requirements for each school. Some business schools do not require years of working experience, in fact you can get into Harvard with 2 years experience while you need more years of experience to get into some programmes at ESADE or IESE.  Your essays have to be top-notch and should reflect leadership and entrepreneurial skills. Time spent volunteering on projects for charities or NGOs are also acceptable. References from renowned business leaders are useful when submitting applications for schools like Harvard and Wharton. If you can get an alumnus of these schools to provide a reference for you then you stand a good chance.

Most of these schools usually have three streams of application deadlines before resumption. You stand a good chance if you can meet the first deadline but a very lean chance if you target the 3^rd deadline. Also if you are rejected from the first deadline, you can always submit again before the last deadline.

Life in the Business School

My stay in Manchester was memorable, not only because I was taught by some of the best tutors in the academic business world; made friends from all over the world (my class comprised students from at least 25 different countries); went through a rigorous and fantastic learning experience but also because I got the chance to see much of the rest of Europe.

At first, there is always a learning shock you experience, especially if you are used to the learning style of OAU, Ife where you are stuck to copying years old notes of your lecturer and having to cram text books before exams.

The learning style is a lot different than ours; it is more interactive, educative and enjoyable. If you are going for an MBA in a first class school, you will analyse an average of 500 cases* studies during the duration of your course and you will participate in business presentations at least 3 times a week. If you are going in for an MSc, you will analyse an average of 100 case studies and at least 2 business presentations every week.

You will experience a paradigm shift and see things differently after your programme. You will start to think strategically, globally and appreciate the diversity of views and opinions. Your self -confidence will shoot up, and your entrepreneurial skills will drive you to do fascinating things. In fact, most people that pass through MBA programmes from top business schools end up starting their own businesses.

Your dissertation project

This is the part you will probably enjoy/hate most and perhaps one of the most challenging things you will do in the business school. Your topic and the way you handle it could determine your future, where you will end up working or what you will end up doing. Mine was on internationalization of emerging multinationals and the project brought me to the sphere of interviewing some of the business leaders in Nigeria including topmost personnel in UBA, GTB and Access (you can imagine the wealth of information, ideas, and networks I got from this experience).

Life after Business School

Once upon a time, I used to think a foreign degree from US or the UK will give you an automatic high paying job.  The sweet truth is that YES it still does; I have friends who got recruited to high-paying jobs at Exxon Mobil, Schlumberger, JP Morgan and the like. And also the bitter truth is NO; I have friends with whom I graduated last year and are still jobless till date. In fact on the average, coupled with the current economic situation, it is more likely to be the bitter truth.

What will normally come to your mind is that “was my escapade in the business school (coupled with the time, money and having to quit your paying job before you left Nigeria) worth it?”. I have heard this countless times from people. But the fact is that it is worth every penny. Let’s take my experience for example.

After my programme, I came home after doing a number of interviews in the UK with Nigeria-based firms. Before I went for my MSc, I worked for a bank earning a 7-figure salary per annum. Now, I work for a small management consulting firm, a pay in the second half of 7-figure salary, a car, paid travels and accommodation anywhere in the world.

Before I went for My MSc, I was a marketer hustling to meet targets, but now I work as a strategy consultant, doing corporate restructuring, business valuations and business reengineering. Before I went for my MSc, I could hardly stand in front of a crowd and take the lead, but now, I train managers of large companies, pitch to Board of Directors and coordinate big projects. The constant truth about life after business school is that you are a changed person and your skills will seem to have developed so rapidly you will be amazed yourself.

But back to the job issue, for most of you that will pass through the business school, jobs will not come easily like that. Of course, you will have a lot of leverage using your degree to apply for jobs your mates dream about, but the truth is that you will need to do something extra/ something different to get those jobs. You need to be on top of your game to get the best otherwise you will find yourself fighting for the same level of job you quitted before leaving for your masters.

If you are thinking of securing a job abroad after your masters, you have to start applying for jobs immediately you get admitted to the school. For those going to UK for an MSc, recruitment by many big firms is done every September. So if you are starting your programme in September 2010, you must have applied for the job before December 2010 to be able to get the job for September 2011. If you are going for an MBA September 2010, you can still apply till September 2011 in other to get a job September 2012. You also will need to apply for a lot of jobs. A friend of mine applied for 90 jobs, he got 3 interviews and finally got one offer. Another friend applied for 75 jobs, got 2 interviews and no offer. Another applied for 105 jobs, got 4 interviews and no offer. But I have one that applied for 6 jobs got 3 interviews and 2 offers (if you are a genius, then you can be thinking of this). The ugly truth is that getting jobs abroad is very difficult nowadays because of the recession.

Getting into a top business school can be made easy if you follow the steps I explained above. You can Google out tips on getting into top business school to get more information. I believe you would have picked one or two things from my experience during and after my time in the business school.  Remember, it is what you do or what you put your skills to do after your time in the business school that will tell you if you had wasted your time or effort or made the best decision in your life.

Please Note: This does not substitute for personal research and/or professional advice. * Information from a Harvard Business School Conference I attended in 2009.

Michael Adenuga is a Lead Strategy Consultant and writes from Lagos.