Start the new year off right by being proactive about your business school application process!  This week’s MBA news roundup includes answers to common MBA admissions questions regarding work experience, statistics on the highest paid MBA grads, and an article on how Harvard Business School is promoting entrepreneurship among its students.

1. When the Sky is Nearly the Limit: Highest Paid MBAs of 2010

Although some Wharton, Harvard, and Stanford grads make well above $100,000 after graduating, schools warn prospective students to take these salary statistics with a grain of salt.  Find out more about these figures in this Poets and Quants article.

2. Harvard Fund to Bank-Roll MBA-Student Entrepreneurs

Now that HBS students’ entrepreneurship dreams have monetary backing with the new Minimum Viable Product, or MVP Fund, it will be easier for these MBA candidates to explore and test their ideas to supplement their education with a lot of hands-on experience.

3. Get Into Business School: Work Experience

Have questions about whether or not your work experience is sufficient before applying to b-school? U.S. News and World Report features this Q&A to help you understand the type of background that admissions committees are looking for and the importance of showing leadership skills.

4. Slowly, Top B-Schools Gain in Diversity

Have schools made improvements in diversity in their student profile?  Nancy Sims from the Toigo Foundation explains how universities can do much more to increase the number of underrepresented students on campus.

5. For Business Schools, Culture Matters

A dean at the Haas School of Business at UC Berkeley provides his perspective on how business schools should revamp their culture to mold a different kind of MBA grad.

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