En este webinar, los co-fundadores de embiei, Paola y Giovanni, comparten la historia y el propósito de embiei, y hablan sobre los beneficios de hacer un MBA.
Puertorriqueñas - check out FREE Forté events this Fall!
Forté Foundation, a non-profit supporting women in business, holds free events especially for women. Forté MBA Forums are held annually in 11 cities to empower you with information about the value of an MBA. You'll make critical connections with admissions reps, alumnae, and students of top business schools in the US and Europe.
Get more info here about these events.
why pursue an MBA
Still unsure if you should pursue an MBA? Check out this Forbes article which discusses reasons why people still want to pursue an MBA.
At the top of the list, cited by 57% of the prospective students, was the desire to acquire new skills and knowledge about business. Slightly over a third, 38%, said flatly that they wanted the degree to increase their salary, but nearly just as many, 35%, said they pursued an MBA to make a positive difference in the world and to improve society.
Why do you want to pursue an MBA?
MBA for entrepeneurs
If you are considering starting your own business - or you already did!- an MBA could provide tools and support to be more successful. This US News article has a good perspective on this: “Most top schools also offer entrepreneurs more streamlined or flexible options, alternative master's programs or even mini- or micro-MBAs, targeting specific knowledge gaps.”
demystifying the gmat
The GMAT is a key component of your MBA application. That being said, there's no need to be nervous. With enough preparation, you should be able to ace the GMAT! Below are some tips to help you as you prepare to take the test. For more information on what the GMAT is, check out our test prep page.
How and when should you prepare for it?
Generally speaking, you should study for the GMAT at least 6 to 8 months prior to the day test day. You should backwards plan based on the school application deadline. In addition to 6 to 8 months of studying, you should consider adding an addition 2 or 3 months to re-take the test, if needed.
Okay, so know you have your timeline, where do you start? First, think about your learning style. There are a couple of ways you can go about studying for the GMAT, you could:
buy a book and study by yourself
study alongside others
hire a personal tutor
enroll in an online or in-person course
Or maybe do a combination of any of these approaches. What's most important here is for you to select the approach that best works with your learning style (and your budget).
How will you know if you have a "good" score?
Whether or not you have a "good" score depends on the programs you're trying to get into. That's why it's so important to research the schools/programs you're interested in early in the process. For more information on school research, please access this page. Generally speaking, you should aim to be within the middle 80% range for the schools you're interested in. This information is typically under each school's "class profile" page, in their website.
What are the steps I should follow (and in what order) to be successful with the GMAT?
Set a target score: Research the programs you're interested in and figure out what score will make you a successful candidate for the particular program you're interested in (general rule of thumb, you should be within the middle 80% range)
Set a timeline: Based on the application deadlines for the school you're interested in, figure out your timeline. As a general rule of thumb, you should plan to study for at least 6 to 8 months and leave a 2 to 3-month buffer in case you have to re-take the test
Find the resources that work best for you: Figure out what you'll use to study. Do online courses, in-person courses, a book, or a personal tutor be best for you? There are a ton of resources out there, you should spend the time to find the resources that work best for your learning style (and your budget)
Study. Study. Study: It goes without saying, but you need to spend the time getting familiar with the format of the test, and practice until you feel comfortable with the material
Take practice tests: To assess how you're doing, and adjust your study plan accordingly
Schedule and take your test: Once you start seeing the score you're aiming for on your practice tests
Assess whether or not it makes sense to re-take the test: If you're not satisfied with your score, re-take the test
<If needed> Prep for your re-take: If you're re-taking the test (and if your budget allows), invest in the Enhanced Score Report which helps you gear your studying towards the sections where you need the most help. For more information about it, access this page
why an mba?
At embiei, our aim is to increase the number of Puerto Rican business leaders. To do this, we aim to increase the number of Puerto Rican MBAs. So why should you consider an MBA?
Well, we can think of a few reasons:
- It makes financial sense. Median starting salaries are around $120,000/year.
- It exposes you to an incredible network of people who will likely become business leaders in the near future (it's about who you know, not what you know, right?)
- It serves as a platform to potentially switch careers. Over 80% of MBA students are considered career-switchers. If you're not happy with your current industry/function, an MBA might be the right next step for you!
Depending on where you are in your career, there are different types of MBA that might make more sense for you. Typically, students enroll in one of these types of programs:
- 2-year full-time MBA program
- 1-year full-time MBA program (not offered by all schools)
- Part-time MBA program (typically 3 years, during evenings and/or weekends)
- Executive MBA program
- International MBA program
What program you decide to go for depends on:
- where you are in your career
- whether you want to switch industries, functions, or both
- what your financial situation looks like
- what the school you're targeting offers
- where you live vs where the school you're targeting is
- among other factors
For example, if you’re 4 to 6 years out of undergrad and are looking to switch industry and function, a two-year full-time MBA probably makes more sense, as it’ll give you the opportunity to intern in your desired industry/function for a summer before graduating.
Okay, so this MBA sounds great, what’s the catch? Well, the MBA is an investment. Top MBA programs in the US can cost anywhere from $60,000 - $70,000 a year. That’s pricy, right? We know! However, there are a number of scholarships and financial aid options available for Hispanic American students. For more information about available resources, check out this page.
An MBA is a huge financial and time commitment, but we believe it’s worth it! For more information about the MBA degree, please check out this page. For more information about choosing the right program for you, check out this page.
embiei is live
Bienvenidos to the embiei community!
embiei (Spanish pronunciation of MBA, Masters in Business Administration) was born after realizing that we had luckily stumbled upon the concept of business school. It took a colleague, or a friend, to suggest that we were good MBA candidates for us to see ourselves as “business leaders with an MBA.”
While we are grateful to have had this support, we don’t want to leave this to chance for others. We want to proactively expose Puerto Rican college grads and professionals to top MBA programs.
A study* by the Graduate Management Admissions Council shows that while 18% of the US population is considered Hispanic American, less than 7% take the GMAT (the main admissions test for business school), and less than 4% are in Senior level positions. We want to change that!
African American and Hispanic American Underrepresentation in the Business School Pipeline in the US
In the Americas, 2 out of 3 CEOs hold MBAs. While an MBA is not a requirement for leadership, it helps you to create valuable professional networks. Leaders meet leaders, who hire and promote other leaders.
Our hypothesis is that one way to increase the number of Puerto Rican leaders is to increase the number of Puerto Rican MBAs, and to do that, we need to raise awareness of top MBA programs.
embiei will focus on raising awareness among the Puerto Rican student and professional community, by partnering with local universities and organizations. We will also post content regarding MBA programs before you apply, so that you can properly prepare for admission tests and define your interests. Lastly, we want to create a community in which we can share lessons learned, and connect with one another. embiei will be a space in which we can lift each other up.
Si nosotros pudimos, ustedes pueden. Let’s do this!