Business school provides a pathway that allows you to pursue your passion and advance (or recreate) your career, while gaining important leadership skills. And diversity, bringing unique knowledge, experiences and perspectives to the MBA classroom, is an integral part of the rich fabric of this invaluable business school experience.
Diversity in the classroom better prepares all students to compete in a multi-ethnic and multi-racial global marketplace. It is also a key priority for employers across the country targeting business schools with diverse student bodies.
All of that is good news for minority candidates. Yet even as many top business schools strive to drive minority applications and corporate recruiters clamor for a diverse group of graduates, African American, Hispanic, and Native American enrollment remains significantly underrepresented. This underrepresentation can be attributed, in part, to a lack of role models in both business and academia, a concern that is also often pointed out by women.
Furthermore, like many women, minorities often tend to careers such as medicine or law, which they consider to make a positive contribution to society (as evidenced by a recent study citing underrepresented minorities comprising 13 percent of the population). law students and 12 percent of medical students, compared to just six percent in top business schools). At the same time, some minorities attribute their hesitancy to obtain an MBA due to concerns that they will not fit the “business school mold.”
Potential for motivation, commitment and leadership
The truth is, there is no “typical type of MBA” you should fit into, regardless of the stereotypes that have evolved over the years. According to a study by the US Department of Education, business school students studying in the United States are more diverse than any other graduate program.
And there is no single college major, business experience, or extracurricular achievement common to all MBAs. (That’s not to say that you don’t need quantitative and analytical skills for business school. But you can always take courses like calculus, statistics, or economics to achieve competitive scores on your entrance exams and subsequently perform well on your college plans. studies of your MBA program).
There is also no mutual career goal or industry that every MBA has set its sights on. Rather, business school students represent a wide range of backgrounds, from sales, consulting, and nonprofit organizations, to engineering, marketing, and research analysts.
However, what business school students have overwhelmingly in common are clear goals, demonstrated academic ability, a desire to learn and grow, and an aptitude for leadership.
And if this sounds like you, then an MBA degree can be too.
An abundance of resources
So you’ve decided that an MBA is for you … but where do you start?
There are a wealth of resources created to inform, inspire, and support minorities in their pursuit of the MBA.
One such resource is MBADiversity (mbadiversity.org), a multicultural non-profit organization comprised of MBAs and entrepreneurial talents from around the world who share a dedication to creating a sense of unity among all races, nationalities, genders, and creeds.
MBADiversity’s three-fold mission seeks to: support prospective business school students through exam / application preparation and identification of financial options; fostering friendships, job search, and unity among current MBA students and alumni; and helping business schools and companies promote their institutions, attract talent, and facilitate a true understanding of diversity.
MBADiversity includes a GMAT Prep scholarship program, plus a Resource Center where you can find information, tips, and step-by-step instructions to guide you through the MBA application process.
Equally illuminating is Management Leadership for Tomorrow (ml4t.org), a New York-based nonprofit with a mission to increase the presence of qualified students of color in top entry-level majors and top business schools. graduate. MLT works collaboratively with numerous college programs, institutions of higher education, and other non-profit organizations.
Of particular interest is MLT’s Career Readiness Program (CP), which helps prepare junior and senior high-achieving minority college students for placement in business-related jobs leading to admission to the best MBA programs. MLT also offers a comprehensive 12-month MBA preparation program. Designed to help young minority professionals apply successfully to leading business schools, program content ranges from GMAT preparation and individual job plans, to school research and selection, writing / interviewing skills , financial planning and trial / application strategies.
The National Black MBA Association (nbmbaa.org) has 39 local chapters spanning the entire country, each providing year-round education, access, and networking opportunities. The organization conducts an annual recruiting and networking conference, offers an employment network, and annually distributes more than $ 200,000 in awards to Ph.D., MBA, and undergraduate students.
Similarly, the National Hispanic MBA Society (nshmba.org), which serves 29 chapters and 6,500 members in the US and Puerto Rico, works to prepare Hispanics for leadership positions through the education of graduate degree in management and professional development. NSHMBA offers MBA preparation events and resources, along with a scholarship program for outstanding Hispanics (membership required) enrolled in an MBA program at an accredited college or university.
Other membership organizations that offer scholarships, various resources, and networking opportunities for minorities include the Consortium for Graduate Study in Management (cgsm.org). The Consortium, which promotes diversity and inclusion in American business, has 13 member schools (representing some of the best business schools in the US) and offers various programs to students from any of its member schools. Additionally, the Consortium awards a series of merit-based full-tuition scholarships each year.
Also worth exploring, if your target is the financial services industry, it’s the Robert A. Toigo Foundation (toigofoundation.org). The Foundation supports the continued advancement of exceptional minority MBA students and alumni within the financial industry through scholarships (available to students enrolled in one of the Foundation’s 15 alliance schools), tutoring, internships, and job placement. .
Additional information on financing your MBA is available at FinAid (finaid.org). One of the most comprehensive student financial aid resources on the Web, this easy-to-navigate site provides a wealth of information for minority students, including step-by-step information on how to apply for financial aid from the federal government.
Virtual visits to B schools of choice
You’ll also want to check the business school websites for information on the programs they have available. One of the best starting points is the Ten School Diversity Alliance (tenschools.com), which seeks to increase awareness and participation of underrepresented populations in graduate management education.
The site provides information on the recruitment and informational events that TSDA hosts throughout the year, along with direct links to each of the 10 schools in the alliance, including: UCLA Anderson School of Management; Chicago GSB; Columbia Business School; Darden at the University of Virginia; Harvard Business School; the Kellogg School of Management; MIT Sloan; Stanford Business School; Tuck School of Business at Dartmouth; and Wharton at the University of Pennsylvania.
A rewarding journey
The search for an MBA poses a challenge in some way, be it emotional, academic or financial, for all potential candidates. And for minorities, there are often additional and unique obstacles to overcome.
But you are not alone.
There are a host of individuals, programs, and organizations dedicated to guiding you to and through your business school education.
It is true that business school is not always the easiest way to go. Ultimately, however, your MBA will transcend racial and cultural boundaries, provide professional and personal rewards, and prove to be a journey worth taking.
