Archives For MBA/B-School

Everything you want to know about applying to business school as well as what to expect once you get to business school.

We’ve invited mbaMission to share their Business School Essays Analyses as they’re released for the 2013-2014 application season. Here is their first analysis, for Columbia Business School.

Introductory Note: Typically, Harvard Business School launches the MBA application season and then other business schools quickly follow suit. Earlier this week, HBS admissions director, Dee Leopold, announced that HBS would be releasing its essays during the final week of May. Meanwhile, Columbia Business School’s Admissions Director, Amanda Carlson, sent a message that she waits for no one. CBS officially released its essay questions today – you will find the questions and our analysis below.

This year, Columbia Business School (CBS) continues a trend that has developed over the past three seasons, once again reducing the number of words applicants can use to tell their story. Last year, CBS allowed applicants 200 characters with which to respond to its short-answer question and 1,250 words total for its three essays—not much room to showcase one’s strongest attributes and set oneself apart from the pack. Now, CBS candidates have a mere 100 characters for the short-answer question and 1,000 words for the three essays.

Unfortunately, this reduced word count does not make your task as an applicant any easier—especially when you have only one essay (Essay 3) in which to discuss something outside the professional/academic realm and reveal your more personal side. Hopefully, our essay analysis can help you strategize…

Columbia Business SchoolShort Answer Question: What is your immediate post-MBA professional goal? (100 characters maximum)

Do not pretend to be anything you are not. Reveal honest, ambitious goals that are also realistic.

These two sentences are 98 characters long. You can now see just how brief you need to be with CBS’s short-answer question. Yet you must still demonstrate that you can convey a point within such strict limits. So, we are sticking with the advice in our example. Do not misguidedly believe that admissions officers have a preference for specific professions or industries—they do not. Think about what you truly want to do with your career and state it directly. Then, be sure that the rest of your application provides evidence that this goal connects to your existing skills and profound interests, making your professed goal achievable and lending credibility to your statement here. If you can do this in 100 characters—and remember that we are talking about characters, not words—you will have answered this question quite well.

Essay 1: Given your individual background, why are you pursuing a Columbia MBA at this time? (Maximum 500 words)

Because the CBS admissions committee is asking “why” you have chosen to pursue an MBA, you can justifiably delve into your professional career and explain how you identified your need for this particular advanced degree. However, take care not to overwhelm the admissions committee with an unnecessary level of detail about your career history. We cannot emphasize this strongly enough—the admissions committee does not want a recap of your entire resume—moreover, such detail would use up valuable word count. Approximately 100–150 words on your past should be enough to provide appropriate context.

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Editors Note: The following is a guest post by our friends at Access MBA. 

access mbaWhen choosing between business schools in Europe and the United States, the main thing to keep in mind is that the decision is very personal. Take a good look at the available options and do not let yourself be influenced by rankings. If your background fits in better with a school that may be a little outside the top 10, 20 or 30, don’t let that worry you. Here are some of the advantages European business schools have over their overseas counterparts.

Less Expensive. The two-year program is still considered to be the American standard for the full-time MBA. In Europe, the duration of an MBA program is one year or eighteen months, which becomes less expensive than a two-year program and entails lower overall living costs. Nevertheless the quality of the programs can be very high, which explains the growing number of triple-accredited business schools in Europe.

More Specialized MBA Programs. Europe boasts schools that are known for certain specific core competencies. Ranked the best European business school by the Financial Times in 2012, IE Business School is, for example, the perfect place to develop your career with its focus on innovation, diversity and entrepreneurship.

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Note: This post is by Liza Weale, Senior Consultant at mbaMission

mbamissionThe news is out: as our friends at Poets & Quants shared this week, selectivity at top business schools dropped during the 2011–2012 application cycle, with a few exceptions.

While almost all the top-ranked MBA programs saw a decrease in selectivity, the biggest change was at the University of Michigan’s Ross School of Business. Two years ago, Ross reported an acceptance rate of 32%, but for the most recent application cycle, the reported rate was 41%.

So, if you’ve been considering applying to business school, you may be thinking you’d be a shoo-in now, right? If only history could predict the future….

What exactly will the acceptance rate look like at Ross next year? Will the school see a flood of applicants hoping to benefit from the higher acceptance rate—therefore actually lowering the acceptance rate? Or will candidates choose to apply elsewhere? Will Ross see a higher yield (the percentage of admitted students who enroll at the school) and have to ask people to defer their offer, as the MIT Sloan School of Management was forced to do this past summer?

The reality is that you cannot possibly know how many people—or especially, how many qualified people—are applying to a particular program in a given application season.

Business school is a long-term investment; it’s not day trading. If you’re hoping to capitalize on short-term market fluctuations, you are likely going to be disappointed. So, instead, assume that the schools are going to be just as competitive as ever and put together the most compelling application possible. Here are some thoughts to help you get started.

  1.  Get to know the schools in-depth to find the right fit for you—visit campuses, sit in on classes, talk to alumni, scour the information available online. Not only will this firsthand research help you better identify the proper programs for what you are seeking, but it will also come in handy when you are asked to explain in your essays and interviews why Yale/Ross/Anderson/Kelley/etc. is the best fit for you. And a side note: if the MBA programs are feeling pinched for applicants, their students will surely benefit in the end. Whether through new or improved facilities, added courses, star faculty, or other significant investments, the schools are eager to do what they must to attract the best and the brightest.
  2. Invest in the GMAT—follow a plan that builds both skills and endurance over time. All too often, candidates assume that because they did well on the SAT, they’ll do well on the GMAT; as a result, they fail to study properly, are disappointed with their results and find themselves scrambling after their first attempt. Assume that you’ll be studying at least a half dozen hours a week for a few months, and realize that only 10% of test takers achieve that coveted 700 score.
  3.  Be thoughtful about your candidacy. Are you, say, a consultant—as are so many other applicants? If so, think about the stories from your life that highlight your atypical qualities and achievements. Perhaps you traveled to China for two months to work on a start-up or helped your little sister rebound academically after some low grades. Do you come from a “nontraditional” background like education? If so, focus on showcasing experiences that illustrate your critical thinking skills—skills an admissions committee might not otherwise assume that you have.

Bottom line: do not stress (or relax!) too much about the numbers. Getting into business school is hard work, and it always will be. Gaming the system is impossible, so don’t waste your time wondering about questions you can’t answer and things you cannot control. Direct that energy instead to crafting the best application you can, and you will be fine. In fact, you may even enjoy the process.

 

mba@uncEditor’s Note: This is a guest post by Harrison Kratz, Community Manager at MBA@UNC. See the bottom of the post for more information about the author. 

While employed full time, the prospects of continuing your education can seem like a daunting task. Business school can be challenging, yet furthering your education can give you far better career opportunities and the ability to move into managerial positions more quickly. Fortunately, colleges today offer greater flexibility with part-time classes that are offered at night or online; some individuals are even able to attend school full time online while working. Whatever path you deem best for your situation, here are five tips on balancing your school and work life:

1. Don’t overdo it.

Find the course load that fits your situation, not overtakes it. Many colleges offer classes part time, once or twice a week, and online classes give you the advantage of being able to work from anywhere at any time. You may want to take only one or two classes per semester, and while it may take longer to complete your program, it will prevent you from being overwhelmed. Keep in mind: If you plan on receiving financial aid, you usually need to take a minimum of two courses to be eligible.

2. Choose your class load wisely.

In this U.S. News Education article, Menachem Wecker recommends that you “balance course difficulty.” Stagger your most difficult classes over multiple semesters. If you are taking two courses at a time, opt for a difficult course and one that you can complete with ease. This will make your journey far more comfortable.

3. Communicate your plans with your employer.

Going back to school is meant to further your skills and career, thus making you a greater asset to your company. With that in mind, be sure to gain your employer’s trust and keep them in the loop on your school plans. This will hopefully buy you some leeway at work or at least win you some understanding, but your company may supportive enough to offer tuition assistance. Be sure to explain to your supervisor how your education can benefit the company, continuing education making you more productive and management ready.

4. Don’t neglect sleep and exercise.

You cannot forget to take care of yourself – first and foremost, make sure that you exercise regularly and get adequate sleep. Trying to manage your work and school life can cause you to burn out quickly. Exercising will keep you feeling healthy and alert. Sleep is essential for focus. While you are at it, avoid snacking on junk food while doing schoolwork — choose nutritious options!

5. Manage your time well.

Become an expert in time management. If you want to be successful in school and at work, you will need to be organized and able to prioritize. Plan specific times to do your schoolwork in order to avoid procrastination. Include your social plans in your schedule, and if you find that you are short on time, prioritize the most important things first. You may have to take a break from some social commitments if time does not allow for them, but in addition to sleeping and eating well, don’t forget to give yourself time to just relax and read a book or watch television. This will help maintain your sanity as you juggle your full-time job and business school classes. Good luck!

 

Bio: Harrison Kratz is the Community Manager at MBA@UNC, the online MBA program offered through the University of North Carolina. Harrison also sticks to his entrepreneurial roots as the founder of the global social good campaign, Operation: Social Santa. When he’s not working, Harrison switches his focus to great food, watching any sport that’s on TV, all things Disney, and traveling. You can find Harrison on Twitter: @KratzPR.

I’ve been speaking with a lot of students in this position recently – welcome to December. Most second round deadlines are rapidly approaching and some students, unfortunately, don’t yet have the score they want in order to apply. What to do?

What you CAN’T do

gmat deadlineThere are some things you can do – but we can’t expect miracles either. If you tell me that your test is in less than 2 weeks and you need to improve your score by 100 or more points, I’m going to (gently) tell you that such a goal is unrealistic. I’m not going to discourage you from going for it (it doesn’t hurt to try), but you should also start examining your other options are. These could include accepting your lower score, changing the schools to which you apply, or postponing your candidacy to a later round or a later year. Some people, thinking through this, actually end up deciding that they’d rather wait a year anyway and take their time with the whole application process.
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Note We at Manhattan GMAT are very excited to welcome mbaMission Founder/President Jeremy Shinewald to our blog to offer his analysis on some recent MBA application news. Here’s what he has to say.

mbaMissionLast week, Bloomberg Businessweek published two articles on declining MBA application volumes, going so far as to call the current application environment a “drought.” In its first article (“Columbia, NYU MBA Applications Plummet”), Bloomberg Businessweek noted that Columbia Business School (CBS) and New York University’s Stern School of Business (NYU Stern) saw declines in the number of applications last year of 19% and 12%, respectively, from the previous year. Meanwhile, the number of applicants to Harvard Business School (HBS) declined by 2% and to Wharton by less than 1%. In a separate article (“At Top Business Schools, an MBA Application Drought”), Bloomberg Businessweek revealed that the University of Chicago’s Booth School of Business and the Yale School of Management (SOM) saw drops of 3.5% and 9.5%, respectively. So, is this truly a drought or is this just a blip—and what does it all mean for you?

Let’s start by taking a look at some incomplete numbers (some schools do not release data on application volumes) for a few schools mentioned in the articles:

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manhattan gmat qs world mba tourHere is some exciting event news we wanted to pass along to you. We’re going to be participating in the QS World MBA Tour in New York on 9/15/12. We’re also going to be conducting a special seminar called ‘Breaking 700: Strategies for the New GMAT’. Want to learn more? Check out the event on the QS World MBA Tour website.

Here is a blurb from the event page:

The QS World MBA Tour is known across the globe for its high quality MBA information fairs. With 21 fairs across North America this fall, New York City will be host to the biggest event. Taking place at the Hilton New York from 1-6pm, the fair will feature seminars and panels with Ivy League institutions, including Columbia, Wharton, Harvard and a fair with over 150 of the world’s top local and international business school. For the first time, Manhattan GMAT is hosting a special seminar that should not be missed. From 2-2:40pm, learn from the GMAT prep experts and come to a seminar titled ‘Breaking 700: Strategies for the New GMAT.’ If you’re interested in speaking face to face with admissions directors, obtaining application tips, gaining access to $1.2M in exclusive MBA scholarships and specialized GMAT seminars, this is the event for you. For more information and to register, click here: http://bit.ly/MOUQ5n.

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Our good friends at mbaMission have released their 2012 Essay Analyses for MIT’s Sloan School of Business, the Johnson School of Management at Cornell, the Haas School of Business at UC Berkeley, the Tuck School of Business at Dartmouth, and the University of Chicago Booth School of Business. We’ve compiled these five analyses into one handy 2012 Essay Analysis Resource for you. Enjoy!

Massachusetts Institute of Technology (Sloan) Essay Analysis, 2012–2013

The MIT Sloan School of Management has tweaked all of its essay questions this year and has dropped one question entirely, going with what appears to be a trend this application season toward giving business school candidates less opportunity to provide qualitative information about themselves. Many applicants will be disappointed to see that Sloan’s quirky “cover letter” essay prompt remains. We will start our analysis there…

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