Editors Note: The following is a guest post by our friends at Access MBA. 

When choosing between business schools in Europe and the United States, the main thing to keep in mind is that the decision is very personal. Take a good look at the available options and do not let yourself be influenced by rankings. If your background fits in better with a school that may be a little outside the top 10, 20 or 30, don’t let that worry you. Here are some of the advantages European business schools have over their overseas counterparts.

Less Expensive. The two-year program is still considered to be the American standard for the full-time MBA. In Europe, the duration of an MBA program is one year or eighteen months, which becomes less expensive than a two-year program and entails lower overall living costs. Nevertheless the quality of the programs can be very high, which explains the growing number of triple-accredited business schools in Europe.

More Specialized MBA Programs. Europe boasts schools that are known for certain specific core competencies. Ranked the best European business school by the Financial Times in 2012, IE Business School is, for example, the perfect place to develop your career with its focus on innovation, diversity and entrepreneurship.

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Catch up on some business school news and tips with a few of this week’s top stories:

Networking Tips for Online MBA Students (U.S. News Education)

Networking is just as important for online MBA students as it is for on-campus students. Take advantage of face-to-face meetings and pick up the phone to network in an online MBA program.

Ranking Business Schools on Research (Poets & Quants)

A fresh look at business school rankings. This week Poets & Quants shares which business schools’ professors crank out the most research.

Getting Down To Business In The Business Schools (Forbes)

Larry Zicklin, current professor at NYU’s Stern School, has a revolutionary proposal to fix the crisis of irrelevance that today’s business schools are facing: business school teachers should teach business!
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Catch up on some business school news and tips with a few of this week’s top stories:

10 B-Schools Where Full-Time Students Have the Highest GMAT Scores (U.S. News Education)

This week U.S. News shares its short list of the top business schools where full-time students average the highest GMAT scores.

The Exorbitant Cost of An MBA Has to Go Down (Business Insider)

According to NYU Stern School of Business professor Larry Zicklin, the days when getting an MBA costs well north of $100,000 are coming to an end.

U.S. Business Schools See Slower Growth From Foreign Applicants (Bloomberg)

According to Bloomberg News, international applications to U.S. graduate business programs are taking an unexpected plunge in the number of potential candidates from China.

Old-School Business Practices Worth Bringing Back (Harvard Business Review)

Harvard Business Review shares four elements of mid-twentieth-century business  culture that may be worth preserving.

Did we miss your favorite article from the week? Let us know what you have been reading in the comments below or tweet @ManhattanGMAT

Catch up on some business school news and tips with a few of this week’s top stories:

Who’s Smarter? Law or Biz Students? (Poets & Quants)

Poets & Quants explores the provocative and tongue-in-check question of whether business students are smarter than law students or vice versa.

Business School Tuition: An Overview of Business School Tuition Costs (About.com Business School)

While the cost of business school is notoriously expensive, it is important to remember that there are many different ways to lower and pay your business school tuition.

Should Entrepreneurs Get an MBA? An Inside Perspective From an MBA Entrepreneur (Forbes)

An entrepreneur interested in startups shares how the majority of successful entrepreneurs and investors that she admires hold an MBA.
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Catch up on some business school news and tips with a few of this week’s top stories:

Where Six-Figure MBA Pay is a Done Deal (Poets & Quants)

According to John Byrne at Poets & Quants, there are 39 business schools in the U.S. alone whose graduates make six-figure salaries and bonuses right out of the gate.

Striking Out: Five Ways MBA Applicants Go Wrong (Bloomber Businessweek Business Schools)

What happens if you don’t receive an acceptance letter from anywhere? Here are five common pitfalls that applicants experience in the application process.
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Note: This post is by Liza Weale, Senior Consultant at mbaMission

The news is out: as our friends at Poets & Quants shared this week, selectivity at top business schools dropped during the 2011“2012 application cycle, with a few exceptions.

While almost all the top-ranked MBA programs saw a decrease in selectivity, the biggest change was at the University of Michigan’s Ross School of Business. Two years ago, Ross reported an acceptance rate of 32%, but for the most recent application cycle, the reported rate was 41%.

So, if you’ve been considering applying to business school, you may be thinking you’d be a shoo-in now, right? If only history could predict the future.

What exactly will the acceptance rate look like at Ross next year? Will the school see a flood of applicants hoping to benefit from the higher acceptance rate”therefore actually lowering the acceptance rate? Or will candidates choose to apply elsewhere? Will Ross see a higher yield (the percentage of admitted students who enroll at the school) and have to ask people to defer their offer, as the MIT Sloan School of Management was forced to do this past summer?

The reality is that you cannot possibly know how many people”or especially, how many qualified people”are applying to a particular program in a given application season.

Business school is a long-term investment; it’s not day trading. If you’re hoping to capitalize on short-term market fluctuations, you are likely going to be disappointed. So, instead, assume that the schools are going to be just as competitive as ever and put together the most compelling application possible. Here are some thoughts to help you get started.

1.  Get to know the schools in-depth to find the right fit for you”visit campuses, sit in on classes, talk to alumni, scour the information available online. Not only will this firsthand research help you better identify the proper programs for what you are seeking, but it will also come in handy when you are asked to explain in your essays and interviews why Yale/Ross/Anderson/Kelley/etc. is the best fit for you. And a side note: if the MBA programs are feeling pinched for applicants, their students will surely benefit in the end. Whether through new or improved facilities, added courses, star faculty, or other significant investments, the schools are eager to do what they must to attract the best and the brightest.
2. Invest in the GMAT”follow a plan that builds both skills and endurance over time. All too often, candidates assume that because they did well on the SAT, they’ll do well on the GMAT; as a result, they fail to study properly, are disappointed with their results and find themselves scrambling after their first attempt. Assume that you’ll be studying at least a half dozen hours a week for a few months, and realize that only 10% of test takers achieve that coveted 700 score.
3.  Be thoughtful about your candidacy. Are you, say, a consultant”as are so many other applicants? If so, think about the stories from your life that highlight your atypical qualities and achievements. Perhaps you traveled to China for two months to work on a start-up or helped your little sister rebound academically after some low grades. Do you come from a nontraditional background like education? If so, focus on showcasing experiences that illustrate your critical thinking skills”skills an admissions committee might not otherwise assume that you have.

Bottom line: do not stress (or relax!) too much about the numbers. Getting into business school is hard work, and it always will be. Gaming the system is impossible, so don’t waste your time wondering about questions you can’t answer and things you cannot control. Direct that energy instead to crafting the best application you can, and you will be fine. In fact, you may even enjoy the process.

Catch up on some business school news and tips with a few of this week’s top stories:

Can You Get Into Harvard’s B-School? (Poets & Quants)

Find out what it takes to get into Harvard Business School”the best MBA program in the world”and how HBS’s average GMAT scores and GPA compare to those of other top b-schools.

2014 Best Graduate Schools Preview: Top 10 Business Schools (U.S. News Education)

U.S. News has plans to release their full list of graduate school rankings on March 12^th but here is a sneak peak of the top 10 highest-ranked business schools.

Business School Chart of the Week: Liberal Arts College Boasts Best GMAT Scores (mbaMission)

MbaMission’s chart of the week shows that test takers who score the highest overall on the GMAT apparently come from a school that does not even offer a business major. Can you guess which college made the top spot?
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Catch up on some business school news and tips with a few of this week’s top stories:

MBA Rankings: Top Schools for E-Business (Bloomerberg Businessweek)

Bloomberg Businessweek asked current business school students to rank their program’s coverage of  Internet commerce.

MBA Pay Growth: U.S. Business Schools Lag Behind (Business Week)

Business Week shares some recent research, which reveals that MBA pay growth at business schools in the U.S. has lagged significantly behind increases in Europe and Asia.

Relax! You’ll Be More Productive! (The New York Times)

Struggling to concentrate on your studies? The NY Times reports on growing research that shows how naps, longer sleep hours, time away from the office, and more vacations actually boost productivity and performance.
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Editor’s Note: This is a guest post by Harrison Kratz, Community Manager at MBA@UNC. See the bottom of the post for more information about the author. 

While employed full time, the prospects of continuing your education can seem like a daunting task. Business school can be challenging, yet furthering your education can give you far better career opportunities and the ability to move into managerial positions more quickly. Fortunately, colleges today offer greater flexibility with part-time classes that are offered at night or online; some individuals are even able to attend school full time online while working. Whatever path you deem best for your situation, here are five tips on balancing your school and work life:

1. Don’t overdo it.

Find the course load that fits your situation, not overtakes it. Many colleges offer classes part time, once or twice a week, and online classes give you the advantage of being able to work from anywhere at any time. You may want to take only one or two classes per semester, and while it may take longer to complete your program, it will prevent you from being overwhelmed. Keep in mind: If you plan on receiving financial aid, you usually need to take a minimum of two courses to be eligible.

2. Choose your class load wisely.

In this U.S. News Education article, Menachem Wecker recommends that you balance course difficulty. Stagger your most difficult classes over multiple semesters. If you are taking two courses at a time, opt for a difficult course and one that you can complete with ease. This will make your journey far more comfortable.

3. Communicate your plans with your employer.

Going back to school is meant to further your skills and career, thus making you a greater asset to your company. With that in mind, be sure to gain your employer’s trust and keep them in the loop on your school plans. This will hopefully buy you some leeway at work or at least win you some understanding, but your company may supportive enough to offer tuition assistance. Be sure to explain to your supervisor how your education can benefit the company, continuing education making you more productive and management ready.

4. Don’t neglect sleep and exercise.

You cannot forget to take care of yourself – first and foremost, make sure that you exercise regularly and get adequate sleep. Trying to manage your work and school life can cause you to burn out quickly. Exercising will keep you feeling healthy and alert. Sleep is essential for focus. While you are at it, avoid snacking on junk food while doing schoolwork ” choose nutritious options!

5. Manage your time well.

Become an expert in time management. If you want to be successful in school and at work, you will need to be organized and able to prioritize. Plan specific times to do your schoolwork in order to avoid procrastination. Include your social plans in your schedule, and if you find that you are short on time, prioritize the most important things first. You may have to take a break from some social commitments if time does not allow for them, but in addition to sleeping and eating well, don’t forget to give yourself time to just relax and read a book or watch television. This will help maintain your sanity as you juggle your full-time job and business school classes. Good luck!

Bio: Harrison Kratz is the Community Manager at MBA@UNC, the online MBA program offered through the University of North Carolina. Harrison also sticks to his entrepreneurial roots as the founder of the global social good campaign, Operation: Social Santa. When he’s not working, Harrison switches his focus to great food, watching any sport that’s on TV, all things Disney, and traveling. You can find Harrison on Twitter: @KratzPR.

Here’s a roundup of some of this week’s top business school related articles:

B-School Chart of the Week: Which B-Schools Produce the Best-Performing CEOs? (mbaMission)

Trying to decide where to go to business school? Have a look at where others have garnered great success.

Job Market Improving for Business School Graduates (U.S. News Education)

A new survey reveals that business school graduates’ job prospects are on the rise and are as good as they’ve been since 2003.
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