pre-mba: oxford grading system

Lately I've been posting a lot of blogs about studying for the CFA. After all, I do mention that the goal of my blog is to guide you through "admission strategies to surviving the core curriculum to securing your dream job," and I cannot think of a better review for the MBA core curriculum then the CFA, which focuses on accounting, economics, and finance. While I will continue such posts, I thought it would be nice for a change to talk more about the Oxford MBA grading system.

Schools like Oxford are brimming with over-achievers. The average undergraduate degree earned by an applicant entering into the Oxford MBA is a "second first class degree" (also known as a 2:1, or a 3.50 GPA). The highest class degree awarded by Oxford University is the coveted "first class degree" (also known as a 1:1, or a 3.80+ GPA). For MBA students the class of degree that you graduate with is ultimately determined by your number score.

Distinction level:
80-100 Superb work
75-79 Excellent work
70-74 Fine work

Pass level:
65-69 Strong pass
55-64 Good pass
50-54 Pass

Fail:
45-49 Marginal fail
0-44 Outright fail

The World Education Services boasts a wonderful website where you can get a good approximation for converting grades from any country. For example, a student studying at an American college might earn a 88% in a class, which translates into a B+ grade, or a 3.50 GPA. The process is somewhat similiar in British universities, except there is not as much grade inflation, so a 65% might be considered a B+, which is good enough to earn you a 2:1. As students scramble for the top of their class, what exactly makes the grade & perhaps more importantly, does it even matter?

Oxford MBA students will take approximately 18 courses during the three terms they are there. In practice, the range of grades earned are from 40% to 80%. Students must score a minimum passing grade of 50%. Most strive for a 70%+ mark since this begins the various gradations of "distinction." The average mark achieved by students is a 63% "second class degree" (also known as a 2:2, or 3.33 GPA). Students who score a 70%+ grade in at least one class during any of the academic terms makes the Dean's List, and are often invited to a special dinner hosted by Colin Mayer (SBS Dean) and Stephan Chambers (MBA Director). Anyone looking to graduate with overall distinction must get a 70%+ in at least 6 of their 18 courses. Only 10% of Oxford MBA students achieve this feat. So, what is the good news?

Oxford proves the old adage that the hardest part of getting an MBA is getting into the school. It's true. Almost no one fails. In a recent MBA class, 231 out of 234 students graduated with their MBA. Out of the 3 that did not graduate, one outright failed and the remaining two left the program. While the exact reasons for the three that did not graduate are unknown, we can be reasonably confident that 99% of students who begin the course will pass. Further, past Oxford MBA students tell me that often the most interesting jobs went to those students who may have even had to "re-sit" an exam because they failed it the first time. Grades only matter for a few top employers, and also for those students wishing to land their top choice "Strategic Consulting Projects (SCP)" during the summer.


So by all means work hard, and for heaven's sake, hand in all your assignments on time and show up for your final exams! But when you feel that the stress is piling on top of you...sit back...take a deep breath...imagine the dreaming spires that surround you...and relax. Realize that in time all things will pass (including you and the MBA course), and you will get a good job.