Masters in Accounting - Texas a & M - (Winner)
Editors Note: This student story essay was selected as 1st place winner from BrainTrack's Business Scholarship for Spring, 2011. At the time of submittal this winner, Mary Larkin, was studying for a Masters in Accounting at Texas A&M University.
Wishes Had Known | Advice on Career | Study TipsWhat do you wish you had known about selecting and entering your business school that would be helpful to others going into business?
Making the decision to attend business school is only half the battle; there are many other things that need to be done in order to prepare for the business school experience. There are many aspects that may seem unimportant, but do not be fooled. All aspects to a varying degree should be considered when selecting a business school to attend. The following paragraphs discuss some of these aspects and why they are important in the selection process.
First, there are certain requirements that must be met in order to get into business school. The importance of this aspect is derived from a personal experience that I had as a transfer student attempting to get into the Mays’ Business School at Texas A&M. Due to not being accepted into the business school when I was first admitted into A&M as a sophomore, I was a general studies major and already had 35 hours under my belt from previous college experiences. During my junior year, I decided to go into accounting and chose to apply to the Mays’ Business School. I did not think it would be a problem for me to be accepted because I had good grades and was required to declare a major that year. Little did I know, there were many requirements I had to meet in order to be accepted. By this time, I had 79 credit hours while the requirement to get into Mays’ Business School was 80 credit hours or less. By the grace of God, I was accepted into Mays, but only by one credit hour. This requirement almost prevented my acceptance and could have ended my college career altogether. If I would not have been able to get into Mays’ Business School and declare my major in accounting, I would have been forced out of A&M. I hope that from my personal experience of not knowing the requirements ahead of time needed to get into business school, you will make it a part of your selection process to check and make sure you will be able to meet all the acceptance requirements.
Next, it is important to examine what you plan to do with your business degree or what industry you wish to go into. Different business schools concentrate in various areas of study and aligning your interests with a business school’s focus can be very beneficial in the long run. When you choose a business school well suited to your goals, you will get much more out of the college experience. It is also important to compare different schools concerning the career development and internship opportunities that are offered.
Be sure to look at the career placement statistics of each school to see which one has the highest placement rate. This will help to ensure a future job and increase your chances of finding a good career fit. In addition, you can improve the chances of one day working in the industry to which you are most attracted.
Another important aspect to consider is the reputation of the business school. The prestige and repute of an institution can have a significant impact on future career opportunities, as well as how recruiters view the academic content of the school’s program. Some companies seek out certain business school graduates depending on from which university they earn their degree. In fact, the MBA is analyzed and ranked by more organizations than any other academic degree.
Lastly, before choosing a specific business school, make sure to find information regarding the cost of tuition. As tuition expenses increase, it becomes harder and harder to afford attending a good business school. It is important to look into all the financial aid options and to fill out the Free Application for Federal Student Aid (FAFSA) as early as possible if you are eligible for any aid. Many grants and loan options become available upon completing the FAFSA. Furthermore, even if there is not any aid available to you through the government because of income status or some other variable, there is still the option of scholarship funds. Many scholarship awards are not determined by financial need and can be given to individuals based on some other criteria such as merit or involvement with the community.
Choosing a business school is a very important decision. Your choice will affect your career and your future. It is important to know the requirements of the business school, whether the school aligns with your future goals, how the reputation of the school will affect your future career aspects, and the cost of tuition along with your options for paying it. Thoroughly researching these areas will allow you to choose the best business school that will fit you as a person, as well as your future goals.
Other than school, what would you advise people entering the business field to consider or prepare for?
Upon entering the business field, it is important to be aware of many unexpected obstacles that may try to block your path. Regardless of whether these obstacles are easy to overcome or seem impossible to face, it is better to be prepared for them so you can continue on your path to success. Although obstacles are inevitable and are bound to come along, I believe the following advice will be helpful in handling each one as you enter the business world.
The first obstacle I think everyone entering the business field should be prepared for is “letdowns”. The advice I have comes from a more personal experience of when I lost my dream internship with a Big 4 accounting firm and can be summed up in a few words: be prepared for disappointments. When I lost my internship, I thought my career was over and I would never find another position as prestigious that offered so much opportunity. Little did I know, there was a different plan in store for me and recently, I was hired by AiB at Texas A&M University for a student accounting position. It is possible that you might not receive that perfect internship offer or that amazing dream job. Do not give up. You will find your niche and end up happier than you ever thought possible in that “sloppy seconds” position which was dreaded once upon a time. In fact, you might not even know what your true dream job is quite yet. Besides, where would we be if we always got our way? What if we never made mistakes and never experienced failure in our lives? Without overcoming obstacles, we would never grow. Without using mistakes to discern the right choice from the wrong one made, we would never know that a better path existed. Failures and mistakes are stepping-stones to success, so remember to use them in order to meet your ultimate goals.
Next, I would advise those entering the business field to prepare for speaking in front of audiences. I was once told in an accounting communications course that perfect practice makes perfect presentations. It might seem silly to stand in front of the mirror for an hour every night before your big presentation, but every second will be worth it. Public speaking is not easy, but the more comfortable you feel about the material you are discussing, the smoother the presentation will go for both you and the audience. There may come a time where your main speaker has an emergency and cannot make a presentation, leaving you to take the reins and try to mimic his perfectly planned speech. Knowing the ins and outs of speaking can be very beneficial in these types of situations. Public speaking is not just memorizing the material; it is so much more than that. You must remember to make eye contact, refrain from any nervous fidgeting, and avoid the “and, um” phrase that we all too often fall into saying. Not only do you need to know how to speak in front of people, you also need to know how to get your point across and voice your opinion.
Too often, we think our ideas do not matter. We are scared that if we speak up during a meeting, embarrassment might ensue and it could ruin our reputation forever. This is something that MUST be overcome. A million-dollar idea never came from the quiet person in the corner. I would suggest running your idea by a couple of close colleagues before unveiling it in a meeting with the “big guys”. Who knows, something amazingly small could come from one voice and grow into a prosperous venture. This is why public speaking can be so important as well. If you know how to get your idea out there in a way where people will actually listen, it is as if you have struck gold. This skill will benefit you tremendously across all aspects of your future career.
In the end, I advise those entering the exciting business world to always keep their options open, regardless of which opportunity is currently available. Another door will always open even if it is closed at the moment. I encourage you to practice speaking in front of people in order to become comfortable in these types of situations. Lastly, do not ever be afraid to voice your opinion or idea because it does matter. There is only so much advice to give, because there are many things you will have to experience in the business world yourself in order to understand what approach to take. In the end, do not be ashamed of your mistakes and failures. Rather, grow from your mistakes, learn from your failures, and use them to become the best business professional you can.
What study tips would you recommend to other business students?
There are many study tips that can be beneficial while attending college. While I would like to list them all, I have chosen a few of the most important ones that have helped throughout my college career. Managing time, knowing how to take exams, setting positive goals, and actively studying are all areas where the following advice can be helpful.
Firstly, one study tip that I would recommend to business students is to manage your time wisely. It is easy to get distracted with a project and lose track of time. There are times when three exams will be scheduled during the same week in addition to a ten-page paper that is due. Do not let this intimidate you. The trick is to manage your time wisely. Learn to prioritize. A “to do list” will help in remembering everything that needs to be done. It is very important to keep track of when exams are scheduled and project due dates in order to allocate the appropriate time needed to study for each one. Some assignments will require less study time compared to others. It might be helpful to time yourself while studying in order to ensure that enough time is available for other assignments. Allocating a specific time period to work on each assignment will help you avoid procrastination while at the same time not feel overwhelmed.
Secondly, exams are a big part of college and are usually the milestones that determine grades. It is important to not study too much for your classes when exam time comes. There were many times when I would over-study and end up wasting time that I could have spent working on a different class project or exam. You will know that you have studied too much when you are finished with the exam in twenty minutes, half the material you learned while studying was not even on the exam, and you had time to double check your answers at least ten times before finishing. It is important to be prepared, but being too prepared can sometimes hurt you more than help you. Also, take your time when working on exams. Always go back and check your work in order to avoid making silly mistakes. Stopping to take a second and check your work can help catch any errors made and allow for a much better grade on the exam. Lastly, remember to get enough sleep the night before. Pulling all nighters can leave you mentally depleted and make you less sharp during the test.
Next, setting goals while studying will help you to stay on track and ultimately lead to being successful in learning the material. There are a few things to remember when setting goals. First, always be positive. Thinking positively will allow you to avoid holding yourself back and help to achieve your full potential. Nobody ever got anywhere with a negative attitude. For example, tell yourself “I will complete chapter one questions tonight” and maintain a vision for completing the assignment. Second, remember to keep your goals realistic. If impossible goals are set, you will never reach them and this could lead to disappointment and loss of confidence. Setting attainable goals will avoid feelings of failure and continue to build confidence. For example, do not set a goal to complete chapters one through five in a single night. Instead, make it a goal to complete one chapter each night. Last of all, define the steps that must be taken in order to reach your goals. Doing this shows the progress being made toward your goals and will help you stay focused on the end prize.
Finally, study actively in order to keep the material fresh in your mind. One way to do this is to observe the practice questions or objectives related to the material being studied before you start reading. This will give you an idea of the key points to look for and help you understand important takeaways from the assignment. It is also helpful to read and ask questions aloud with a study partner. By doing this, you will better remember and understand the material. Another way to actively study is to review your notes on a regular basis and make study cards. Actively engaging in studying by quizzing yourself with study cards will help to retain information.
In closing, there are many ways that study habits can be improved by doing a few simple things. Managing study time wisely, knowing how to take and study for exams, setting positive study goals, and studying actively can all improve the learning experience. It is important not to only memorize the material, but to actually learn and understand it. This will allow you to one day apply the material learned in school to future careers and real life situations.