before school starts
After talking to countless people, and spending countless nights thinking about it, you've finally made a decision on where to go. Doesn't it feel great? Depending on the round you apply to school on, you might have anywhere from 4 to 7 months between when you get accepted and when school starts. What should you do during this time? First, make sure you take some time to connect with loved ones. While studying for the GRE/GMAT and applying to school, you probably had little time to spend with your friends and family. And the truth is once you get to school, you'll be even busier (I know it's hard to imagine right now!). Take advantage of these few months. Spend time with those who you care about the most. Additionally, here are a few other tips:
1. Get your Finances in Order
As you probably now by now, an MBA is a pretty big investment (of both time and money). If you decide to do a full-time MBA, you'll be essentially unemployed for the next year or two, which means you need to get your finances in order. Here are a few questions to consider:
Do you have debt? If so, make a plan to minimize your debt before entering school.
Do you have any savings? Do you have family members willing/able to financially support you while you're in school?
If you need to take out loans, what loans are available to you through your program?
Each person's financial situation is unique. Make sure you spend the time thinking about where you stand financially, and what you need to do to better-position yourself (from a financial standpoint) to start school.
2. Talk to your current employer
Does your current employer know you've enrolled in business school? When will be the right time to tell them? Regardless of whether or not you would want to return to your employer, or even industry, post-MBA, it's always a good idea to transition off your role in good terms. Have the conversation with your manager, if you haven’t done so already. Explain why you're going to business school, and be transparent about your timeline. Are you planning to stay on throughout the summer or not? Regardless of what your plans are, just make sure you're upfront about it. The sooner you tell them, the better positioned they'll be to find your replacement. For more tips on how to quit your job, check out this post.
3. Make plans for the summer
You might be planning to work throughout the summer, but if you aren't, make sure you’re thoughtful about how to spend those few months before starting school. Here are a few ideas:
Visit family and friends - as mentioned at the beginning of this page, spending time with your loved ones is key! If possible, make sure you set time aside to do that.
Travel - if you are able to, this is the perfect time to travel. Regardless of whether you're working or not, taking a few days off to travel will serve you well!
Do a pre-MBA internship - particularly if you're a career-switcher, pre-MBA internships give you the opportunity to explore a new company/industry before starting school. To learn more about them, check out this post.
For more tips on how to spend the summer before going to school, check out this post from MBASchooled. For additional questions, please contact us.