If there is one single piece of advice that I can give is to start your MBA journey early, ideally 18-24 months before you are planning to start you MBA. This avoids stress, gives you time to prepare and change course, e.g. adding some extracurricular activities to your CV. Some universities also offer discounts for early application or enrolment – this can easily amount to a couple of thousands or more. I have written another post on how to choose the best MBA for you https://canarywharfian.co.uk/threads/how-to-choose-the-right-mba-programme-for-you.722 and probably should write another one on how to get the most out of an MBA. In general, you should not apply to more than a handful of business schools. Else, it will be too much work (essays, reference letters, campus visits take time) and you might lose your focus. Some schools also charge an application fee, often somewhere around $100-200, so cost can start to add up even before enrolling (you might get it back if you decide to enrol for the program. For the purpose of this post, we are looking at MBAs ranked in the most important rankings like the FT https://rankings.ft.com/rankings/2866/mba-2022 It is usually recommended to apply for a “safety” school where you are quite likely to be admitted (e.g. because your GMAT score is considerably higher than the class average) and at least one “stretch” school where your profile might be average or even slightly below average in some respects. You might have got an idea about how important rankings are for business schools. During the application process, your profile will be checked for employability, i.e. on how successful you will be after the MBA and how you can contribute to the ranking success of the MBA in question, e.g. by finding a well-paid job quickly. With that in mind you can play to this and shape your profile if you have enough time. For your application you will usually need some or even all of the things below. The GMAT is still the most important admissions test, although some schools are now using their own test or alternatives like the GRE. A GMAT costs £250 and you might want/need to take it again should you want to improve your score. The good news is that you can take it online now, so you do not need to wait for a spot at the test centre anymore (which sometimes did not have slots for weeks). You might also need to travel to and from the test centre. You will need time to prepare for the GMAT, though. In my experience, at least six weeks, three months would be better during which you should take at least an hour a day for studying and half a day on the weekends. Getting routine in the types of questions you will be asked helps a lot. A high GMAT score will help a lot and could even iron out some weaknesses in other areas. If you score below 650, try to do it again – a score of 650+ will place you in the top third of test takers https://www.gmac.com/gmat-other-assessments/accessing-gmat-exam-scores-and-reports/gmat-scoring-by-exam-section-normal-view#tab5. Ideally shoot for 700+ which is for the top 13%. Chances are not as bad as they seem since a lot of undergraduate degrees ask for lower scores, so candidates will be happy with a lower score and not retake the test. Quite often, you will need to provide references from people who know you well – this could be through a letter or an online questionnaire. Frequently, your (former or current) manager is one of your references, but you might also not want to let your current manager know that you are thinking about leaving for an MBA. It might take them 2-3 hours to write a reference, so they might need some time to finish this. Some of your references might not have time within the deadline, so try to have more potential references than you will need. It will also help them if you inform them well ahead of time and get their commitment. Most programs will require a minimum of relevant work experience. Relevant usually means salaried full-time work, so volunteering, part-time work or internships are often not counted. It seems a bit harsh, but it ensures that your fellow students bring experience from which you can profit. The good bit about starting your preparation early is that you can think about how to build up your CV, e.g. take on extra projects, look for international postings, become a line manager – maybe even switch jobs to a company with a household name or a job with fancy title. You will be surprised how much even six months can help. Another important part are extracurriculars. Ideally, you are already doing something beyond your job. To shine in the admissions process, try to put some extra hours in, get into a leadership position, show some progress. As ever, it helps if you can quantify some aspects of what you are doing, e.g. managing X volunteers, looking after a budget of Y. Should you not do anything at the moment, start now. An early start in the preparation process will help you again to build up credentials – an experienced admissions officer will spot if you have done an activity merely for a couple of weeks to tick off a box or for a longer period of time out of conviction. Quite a few MBAs come with language requirements, especially if English is not your first language. Some schools also require some knowledge in another languages, e.g. the local language (it might sound over the top, but it will improve you job prospects later). The most frequently used English language test is the TOEFL which currently cost $245 in the UK. Similar to the GMAT, you can now take it from home which makes things easier. A big difference is preparation, though. While you can study for the GMAT in a fairly short period by solving mock test questions, improving language skills might take more time. A good idea could be to read the Economist or the Financial Times and make a list of all words that you do not know and revise them regularly. Else, try to listen to English-speaking news, podcasts etc. as much as possible. An early start will give you enough time to take some language classes or online courses, if needed. It is always a good idea to talk to alumni about their experience and what they got out of their MBA. You could contact them via LinkedIn, but very often business schools will link you to alumni in your area or with a similar profile. For some schools, alumni interviews are part of the admissions process. Again, scheduling these conversations with time to spare will help as it might take time as these alumni tend to be quite busy. These conversations do not cost anything, but you might want to offer to pay for a coffee or a meal. When not fully decided on which business school to pick, MBA fairs are a great way to meet representatives from a number of schools in person. These fairs often offer the opportunity to schedule one-to-one conversations with admissions officers before or after the actual fair as well. MBA fairs are usually held once or twice a year and you might need to travel to these fairs, so plan ahead. It goes without saying that it helps to come prepared and ask specific questions on the business school, its curriculum and potential outcomes. Should you have narrowed your search down to one or two favourites, a campus visit is a very good idea. Quite often, they are offered on a regular basis, but you can always ask for one outside an organised campus day should your schedule not allow a visit during an open day. It gives you a first-hand impression of the campus, current students and professors. You will usually be able to sit in a class (or more), speak to current students and maybe even professors. It is also a brilliant opportunity to speak to an admissions officer in person to make a lasting impression. Some business schools also offer GMAT preparation courses as part of an open-door weekend. Translation of documents – it might sound trivial, but you might be required to have some of your documents or certificates translated by a certified translator, especially if the original is not in English. These translators can be busy (or there is only a limited number available), so you might need to wait for a couple of weeks until you get the documents translated. You will usually be asked to write one or several essays – not necessarily on financial or economic subjects, one of them often on your motivation why you want to do an MBA (and where you can mention why you chose this particular business school). These questions are often on the school’s website, so you can start drafting an essay early on. Try to find someone to proofread your texts before submitting, ideally (at least) one person for content and one for spelling/grammar. For general preparation, I would recommend reading publications like the Financial Times or the Economist regularly, especially if you do not have a finance or economics background. At some point during the admissions process, there will be questions on current business/economic affairs and your view of them. Online courses like Coursera, EdX etc. can also help to give you a basic understanding of economics, finance, accounting etc. (especially if your background is not in economics, finance or management) and provide you with a certificate that you can use in the application process, often issued by a prestigious university – try to choose courses that can be relevant to the curriculum, e.g. introductions into accounting, finance or strategy. After all your documents and essays have been checked, you will be invited to one or several admission interviews, usually with an admissions officer. Ideally, you will have met them (or a colleague) before during an MBA fair or a campus visit. Questions are often fairly standard fare, why an MBA, why now, why here, going through your CV and your post-MBA plans. Some business schools also involve professors and/or alumni for a part of the interview process. You can prepare for these questions and maybe even ask a friend to conduct some mock interviews. Total application cost can easily be a couple of thousand, but you can keep them in check if you prepare early on and choose wisely. As you have seen, early preparation will help you to save some money that you can better spend during your MBA, reduce stress and can help you to make better choices. There is a long list of things to do, so just to repeat myself: try to start early.