There is no simple formula for earning acceptance at top business schools.

Policies vary from school to school, so you must find the perfect match for you.

In general, however, all business schools are committed to the 'well-rounded' applicant. GMAT scores, while critically important, are not everything.

For instance, the University of Chicago's highly reputed business school has accepted applicants with GMAT scores in the 300s; Darden Business School from the University of Virgina rejected five out of six applicants with perfect GMAT scores in a single year.

Let's look at the five main components of a 'well-rounded' business school application:

GMAT score

These scores are rarely the sole determining factor for admission, but they are very important. A good GMAT score does not guarantee you selection, but a poor score will likely eliminate you from consideration. Remember, at the top schools, many applicants with very high scores are not selected, so you must focus on other aspects of your application as well. You should aim to score within 50 points of the school's GMAT average score.

Work experience

Admissions committees look for evidence that the applicant has progressed in his or her career, taken on increasing responsibility and showed leadership.  Business schools want candidates who have a proven ability to work well in groups; this means you need to have strong communication skills and an ability to lead teams. Remember to demonstrate that you have good organisational skills and the qualities of a natural leader. Highlight positive experiences on your application.

Recommendations

Almost every school will want to see recommendations from people who have seen your work and know your abilities. Choose your recommendation carefully -- a big name won't help you as much as a thoughtful, positive letter from someone who knows your work well. Business schools want to see your supervisors' evaluations and what kind of potential for leadership they think you have.

Essays

Essays are an important part of your application process; depending on the school you are applying to, you could be asked to submit more than one essay. You will be given the subject for your essay as part of your application.

Your essay will give your application personality and uniqueness. Do not underestimate this component. In your essay, you must clearly spell out your career goals, potential for success in high-level management and the ability to handle the academic challenges of the institution. Only your essays can convey the various facets of your work experience and the attractive aspects of your personality.

Without nailing the essays, no matter how high your GMAT score or university marks, you will never be admitted to a top business school. Business schools require that you clearly demonstrate your ambition, confidence, maturity, passion, creativity and career focus. You can only communicate these qualities through your essays.

For example, you could asked to describe a situation in which you failed and explain why it happened. Or you could be asked which course you would pursue if getting an MBA did not exist as an option?

Academic record

Schools also pay attention to the applicant's academic performance. The kind of classes you took in college and the reputation of your college also matters; if the subjects you opted for was easy, and the college you attended does not have a very good reputation, then it will work against you.

Unfortunately, you can't go back and change the transcripts, so what can be done to overcome a less-than-stellar college career? Strong GMATs and solid work experience might be enough, but essays are very powerful tools here. 

Essays help you discuss circumstances that might have affected your marks -- perhaps you had to work your way through school, experienced a personal tragedy (steer clear of whining here, just talk about how the experience changed you) or were just young and too focused on having a great time instead of paying attention on academics.

Business schools in the United States 

• Programmes strong in finance: Take a look at University of Pennsylvania's Wharton School, University of Chicago, New York University's Stern School, Stanford University and Columbia University.
  
• Great schools for women: University of Chicago, University of Michigan, University of California at Berkeley, Northwestern University's Kellogg School and the University of Virginia's Darden.

• The best schools for technology: Northeastern University, University of Texas, University of Maryland, University of Alabama and University of California at Irvine.
  
• Top schools for general management: Harvard University, Stanford University , Northwestern University's Kellogg , University of Pennsylvania's Wharton and University of Michigan.

• Great schools for marketing: Northwestern University's Kellogg, University of Pennsylvania's Wharton, Harvard University, University of Michigan and Duke University.

• Top programmes for e-commerce: MIT's Sloan Business school, Carnegie-Mellon University, University of Pennsylvania's Wharton, Stanford University, Northwestern University's Kellogg and University of Texas.

• Great schools for budding entrepreneurs: The best include Univsity of Pennsylvania's Wharton, Harvard University, Stanford University, UCLA's Anderson Business school and MIT's Sloan.

• Non-profit focused programmes: Yale University, Harvard University, Northwestern University's Kellogg, Stanford University and Case Western Reserve University.
  
• Unusual programmes: Check out University of Chicago's international MBA, Northwestern University's media-management major and Columbia University's January-entry option for people who prefer to skip the summer internship and graduate in 16 months.
  

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Rahul Abrol works with Top Careers and You consultants. TCY helps prepare students for competitive examinations such as the SAT, GMAT and GRE.