Business school provides a path that allows you to follow your passion and advance (or recreate) your career, while gaining important leadership skills. And diversity, which brings unique ideas, 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’s 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 while many top business schools struggle to boost 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 the business world and academia, a concern also often noted by women.
Also, like many women, minorities often tend toward careers like medicine or law, which they see as making a positive contribution to society (evidenced by a recent study citing underrepresented minorities comprising 13 percent of law students and 12 percent of medical school). , compared to just six percent at the best business schools). At the same time, some minorities attribute their hesitancy to getting an MBA because they worry they won’t fit the “business school mold.”
Motivation, Commitment and Leadership Potential
The truth is, there is no “typical MBA type” that you need to 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 undergraduate major, business background, or extracurricular achievement common to all MBAs. (That’s not to say you won’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 do well in the core.) curriculum of your MBA program).
There is also no common career goal or industry that all MBAs have set their sights on. Rather, business school students represent a wide range of backgrounds, from sales, consulting, and nonprofit organizations to engineering, marketing, and research analysts.
What business school students overwhelmingly have in common, however, 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 nonprofit organization comprised of MBA and business talent from around the world who have a shared dedication to creating a sense of unity among all races, nationalities, genders, and creeds. .
MBADiversity’s three-pronged mission seeks to: support future business school students through test/application preparation and identification of financial options; foster friendship, job search, and unity among current and former MBA students; and help business schools and companies to promote their institutions, attract talent and facilitate a true understanding of diversity.
MBADiversity includes a GMAT preparation scholarship program, as well as 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 pre-college programs, institutions of higher learning, and other non-profit organizations.
Of particular interest is MLT’s Career Preparation (CP) Program, which helps prepare high-achieving minority college juniors and seniors for placement in jobs related to the businesses they conduct. to admission to the best MBA programs. MLT also offers a comprehensive 12-month MBA preparation program. Designed to help young minority professionals successfully apply to top business schools, the program’s content ranges from GMAT preparation and individual work plans, to school research and selection, to writing skills /interviewing, financial planning and testing/application strategies.
The National Black MBA Association (nbmbaa.org) has 39 local chapters across the country, each providing year-round education, access, and networking opportunities. The organization hosts an annual recruiting and networking conference, offers an employment network, and annually distributes more than $200,000 in awards to doctoral, MBA, and undergraduate students.
Similarly, the National Society of Hispanic MBAs (nshmba.org), which serves 29 chapters and 6,500 members in the US and Puerto Rico, works to prepare Hispanics for leadership positions through management education. and postgraduate professional development. The 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 provide scholarships, various resources, and networking opportunities for minorities include the Consortium for Graduate Studies 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. In addition, the Consortium awards a series of merit-based, full-tuition scholarships each year.
Also worth exploring, if you’re targeting the financial services industry, is 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), mentoring, internships, and job placement. .
Additional information about financing your MBA is available from 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 applying for financial aid from the federal government.
Virtual visits to the B-Schools of choice
You’ll also want to check the business school’s websites for information on the programs each has available. One of the best places to start 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 recruiting and informational events TSDA hosts throughout the year, along with direct links to each of the 10 alliance schools, 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; Sloan of MIT; the Stanford Graduate School of Business; the Tuck School of Business in Dartmouth; and Wharton at the University of Pennsylvania.
a rewarding journey
The pursuit of an MBA poses a challenge in some way, be it emotional, academic, or financial, for every prospective candidate. And for minorities, there are often additional and unique obstacles to overcome.
But you are not alone.
There are a host of people, programs, and organizations dedicated to guiding you to and through your business school education.
It’s true that business school may not always be the easiest path to take. Ultimately, however, your MBA will transcend cultural and racial boundaries, provide both professional and personal rewards, and prove to be a journey worth taking.
