Frequently Asked Questions

1 . How do I apply for admission?

Submit the application form available on our Web site. You may print out the application and mail to the address listed on the back of the form, with the non-refundable application fee of $50.  We also need an official transcript from each school you have attended, an official copy of your GMAT scores, and a copy of your current resume. If you are an international applicant, you must submit an official copy of your TOEFL scores, a Declaration and Certification of Finance Form, and an Authorization for Issuance of I-20 form. These forms can be found here.

2 . What are the admission requirements?

To be considered for admission to the MBA program, you must have a bachelor's degree (international students must have the equivalent of a US bachelor's degree), an acceptable GMAT score, and a minimum of two years' work experience beyond your baccalaureate degree.

3 . What are the minimum requirements for GMAT and GPA?

We do not have hard and fast rules. Usually the average GMAT score for entering students is above 600 and the average GPA is about 3.2.

4 . Some MBA Programs are now waiving the GMAT for certain applicants. Why does Richmond make it a requirement for all applicants?

By requiring all applicants to take the GMAT, we guarantee that your classmates have had to meet the same exacting admission standards that you did. This ensures that classroom conversation will be at a consistently high level. A high GMAT score is correlated with success in the very best MBA programs, so the motivation for other programs to waive the test requirements is unclear. We believe that a standardized test score is an important admission criterion, beyond one's undergraduate transcript and work experience, and that it provides an excellent indication of one's readiness for graduate studies in business.

5 . I do not feel that my undergraduate GPA adequately reflects my ability to complete graduate work. If I enroll in some undergraduate courses before applying for admission to the MBA program, would my grades help my chances for admission?

No. We look at all aspects of an applicant's file to evaluate their ability to complete graduate course work. Taking additional undergraduate courses is not particularly helpful, since there is a great difference between undergraduate and graduate level courses. Your best strategy is to prepare thoroughly for the GMAT.

6 . Can I apply immediately after completing my undergraduate degree?

All applicants must have a minimum of two years of work experience. The average length of work experience for students in the program is five years.

7 . May I just take a class or two without being admitted to the program?

No. One important aspect of our program is the rich interaction between students and faculty. Accordingly, class size is limited and only students accepted into the program are allowed to enroll.

8 . What is the tuition?

In the 2009-2010 academic year, part-time students pay $840 per credit hour. Full-time tuition is $15,210 per semester.

9 . What financial aid is available?

Students may be eligible for a variety of forms of financial aid, including both need-based and credit-based aid and Virginia Tuition Assistance Grants. Additional information is available from the Financial Aid Office at (804) 289-8438. A very limited number of assistantships are available for full-time students. For information, call the MBA Office (289-8553).

10 . When can I begin my classes?

Students may start class work only in the fall semester. All entering students must attend the Opening Residency, held over two weekends in late August.

11 . What is the pre-course instruction?

This is an online study series, or a set of CD-ROMs, that contains background material on various topics. Once you have been admitted to the program you will be provided with access information.

12 . What is the Opening Residency?

This is an intensive program designed to give students a broad overview of the areas of study in the MBA program. The residency takes place over two weekends in late August, carries 3 hours of course credit, and is graded on a pass/fail basis. Students attend presentations by faculty in various disciplines and work in teams to analyze a "live" case, based on a real company and a current business. The residency ends with a case competition judged by industry representatives.

13 . What are the dates of the opening residency for 2009?

The residency is tentatively planned for August 14-16 and August 22-23.

14 . If I cannot attend the residency, can I still start the program?

No. The residency must be taken before a student can enroll in any MBA class.

15 . I have an undergraduate degree in business. Can I be exempted from some MBA classes?

No. There are no exemptions in the Richmond MBA program.

16 . Can I attend the MBA program as a full-time student?

Yes. There is not a separate program for full-time students, but students who want to accelerate their program can do so by taking three or more classes per semester.

17 . What courses should I take first?

All students are required to take MBA 501 Financial Accounting, MBA 504 Statistical Analysis for Business, and MBA 506 Economics for Managers within their first year in the program. MBA 504 is a prerequisite for MBA 506. There is no required sequence of courses, but students are not allowed to enroll in classes for which they have not completed the prerequisites.

18 . I have completed some classes in another MBA program. Can these credits apply to requirements to my degree at University of Richmond?

The normal expectation is that all work for the MBA degree will be completed at the University of Richmond. However, in certain cases, up to 12 hours of transfer credit may be granted for graduate-level courses completed at another AACSB-accredited school of business.

19 . What is the International Residency?

The International Residency is an intensive, in-depth look at the unique challenges of doing business internationally. The International Residency is focused around a project related to either a local business with international interests or an international company. Students travel to an international location where they meet with local business people, academics, and government officials, visit local companies, and gather information relevant to the project. The students then return to the US to complete the project.

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