Do you intend to apply for MBA in top universities such as Stanford? If “yes,” you need to know that the success of getting the chance is based on the MBA statement of purpose. However, most students consider writing a statement of purpose as one of the most challenging things.
In this post, we will tell you the best statement of purpose format for MBA, pro tips, and highlight a successful sample.
What is MBA Statement of Purpose?
An MBA statement of purpose is a written essay, by an applicant seeking to get admission to a graduate school. The essays provide students with an opportunity to tell the admission committee who they are and why they deserve the opportunity to study in that college.
In many cases, the statement of purpose for MBA marketing, finance or other business-oriented courses is only one essay. But there are other instances where you might need to respond to several prompts.
At this point, you might ask: “Why do universities ask for a statement of purpose even when one has passed with good grades?” These universities want people with a unique drive to go beyond good grades. Here are the key reasons why universities ask for a statement of purpose:
- To gain insight into your personality.
- Evidence of personal writing skills.
- Understand your reason for pursuing an MBA.
- A chance to understand extenuating situations.
Sample Statement of Purpose
“Time is money, and nobody plans to waste it. At the heart of any business is the finances, and how it is allocated to foster growth. There is no doubt that this is a delicate balance, and must be maintained properly. In my undergraduate studies, I focused on finance because I was fascinated by the idea of using money to make more. Indeed, it is only the addition of time, and cautious investing that makes that focus possible. An MBA in finance will empower me with the much-helpful management and investment skills, so that I can always ensure that finances are prudently managed, and my firm balanced well to thrive.
After graduating, I have seen my former course mates make millions of dollars only to lose them because of failed investments. Well, it is true that every enterprise comes with its risks, but a good manager must always have a good strategy to minimize them. That strategy is what I am seeking to find. An MBA will hand me the tools I desire to grasp the concept of cost management, and how to spot ventures worth spending money on.
My ultimate goal is setting up a consulting firm that can provide more companies with useful strategies and risk evaluation portfolios. Finance is an awesome niche that pools understanding of market behavior with components of or prediction and statistical modeling. And since I have always been a fan of numbers, particularly statistics, an MBA will catapult me to the perfect position to network with other firms.
On the steering wheel of every successful firm, is a savvy financial plan, I want to craft those plans.”
How to Write a Statement of Purpose for MBA
When it comes to writing application essays such as a Stanford MBA statement of purpose, it has to be the best. Thousands from all over the world are seeking that position, so you cannot leave anything to chance. First, you need to understand the nature of the information to include in the statement. A statement of purpose should include the following info:
- What MBA do you intend to study?
- Why do you intend to study it?
- Why this university?
- How will the MBA be of use after graduating?
A winning MBA personal statement should demonstrate passion, skills, and awe-inspiring communication skills. Here is a demonstration of how to write a great MBA statement of purpose:
- Learn as much as possible about the graduate school of interest. How prestigious is the college? What does it offer? Further, Make sure to understand what the admission committee wants.
- Develop a good structure for your essay. Although some universities might provide MBA statement of purpose template for applicants, many are those that leave it open. In such a case, you need to select a format that allows you to discuss your points coherently. We recommend the standard introduction, body, conclusion model because it is easy to tell your story in a captivating way.
- Keep your statement of purpose for MBA marketing as clear and concise as possible. Go straight to the point and demonstrate how the MBA will help you realize your dreams.
- Start by working on a draft before refining it into the final MBA statement of purpose. Then, revise and proofread several times to make the final copy. You could even ask a friend or a professional writing service to help proofread and make suggestions for improvements.
Expert Tips and Advice for Writing MBA Statement of Purpose
To help you make your statement of purpose for MBA sparkle more, here are some useful tips:
- Make sure to mention your background. The admission committees are interested in admitting people with diverse backgrounds.
- Showcase your previous work experience. If you are writing a statement of purpose for MBA with work experience, ensure to highlight where you worked previously and the impact created.
- Demonstrate how the MBA will help to link the past, present, and future. By highlighting your mission, the admission committee is left with one task; approving the application to help the dream become a reality.
- Use the statement to tell a story. What inspired you to pursue an MBA? For example, you might have been an intern at a company with unique problems and got inspired to pursue an MBA to help offer some assistance.
- Read other statement of purpose examples MBA to learn how pros do it. A good MBA statement of purpose sample can help you sharpen your skills so that you can write your own like an expert.
When to Seek Writing Help with Your MBA Statement of Purpose
At this point, it is prudent to note that even with a statement of purpose sample for MBA and a great template, many people still find it a challenge. Some of the things that can make a person find writing an MBA statement of purpose difficult include:
- Poor writing skills.
- Limited time.
- Having other engagements.
- Complex topics.
- Previous failed attempts.
No matter the reason why you feel inadequate to write a statement of purpose for MBA finance or other subjects, you should consider seeking help from experts.
Common Questions on Writing MBA Statement of Purpose
How do you write an MBA statement of purpose?
- Learn about the graduate school you are applying to.
- Follow the guidelines provided by the admissions committee.
- Develop a good MBA statement of purpose format.
- Write a draft.
- Refine the draft to create the final paper.
- Proofread the essay to make the final MBA statement of purpose.
How do you write a good statement of purpose?
- Write concisely and clearly. Here, the aim is to be friendly and sound authentic.
- Tell a story that interweaves your dream and goal.
- Demonstrate how the MBA will help you achieve your dream.
- Work on a draft and finally refine it to your final statement of purpose.
- Be as honest. There is no need to make up stories.
Why do you want to MBA?
One of the commonest reasons for doing an MBA is growing to the next career level. Other purposes include:
- Develop advanced management skills.
- Access a bigger business network.
- Enjoy higher salaries in the job market.
- Start a new business from scratch and grow it into a multi-national.
How long is statement of purpose?
A statement of purpose should be about 750-1000 words. But if you have showcased all that you wanted in fewer words, it is okay. The admissions committee is looking for quality and not quantity.