MBA Admissions Consulting is the counseling service offered to MBA applicants to improve their chances of getting admission to their desired Business Schools. These services range from evaluating a candidate's profile, suggesting the schools to which they can apply, writing and editing essay, to conducting mock interviews as preparation for MBA admission interviews. These consulting services, which were previously viewed sceptically by business schools, are fast becoming an essential and integral part of the application process . This industry is now expanding by doing a forward and backward integration by providing GMAT preparation and post MBA career counseling.
As many as 50% of those applying to top MBA programs are paying up to $5,000—about $150 to $200+ an hour—for consulting services, according to estimates from consultants and some admissions officials. What were one-person shops less than a decade ago are now staffed with dozens of former admissions officers, MBAs from prestigious programs, and career mentors.
There are a number of smaller firms or sole proprietor shops that tend to have the most admissions consulting experience. While the larger firms tend to contract with consultants of all experience levels who are giving a percentage to the firm ownership, these smaller firms are essentially run by the owners.
Criticism
Many companies boast insider information yet given the numerous types of focuses within an MBA program, specific school specialization relevant for the diversity of applicants makes this "insider" information extremely suspect.