Tag Archives | MBA admissions

Choosing an MBA Program: What School Should Be on Your List?

Chosing an MBA schoolMany students who are applying to business school know they want to go to a top school, but don’t know how to come up with a target list.  You might have an idea from rankings, which are a place to see the names of schools, but I’ll say it right here: It’s not useful to just go through the rankings list and pick the top 4 or 5.  You can be more thoughtful than that.  But how do you begin?

10 Things You Can Do Right Now to Start Your List of Schools

Here are 10 things you can do right now to figure out which school should be on your long list.  Unless you absolutely hate a school because of its location, or you think everyone you’ve ever met from that school is a weenie, keep an open mind about schools you simply want to research. It doesn’t mean you have to apply, or if you get in, go. But it helps you clarify your thinking.

  • Ask trusted friends

Ideally, you want to ask friends who know what they are talking about, who have applied, rather than those who are just reading rumors on the internet.  Work colleagues, alumni of your undergraduate school all might have some insights from their own experiences.

  • Think of people you know and admire who hold an MBA

Ask them why they chose that school and how it helped them become who they are.

  • Look up people in your target field and see where they went to business school

LinkedIn has a variety of free ways you can search to figure that out (just make sure you put in “MBA” a search parameter). Or find the profiles of executives at companies you like and deconstruct their career paths.

  • Pick a school, any school, and look at their employment reports

It’s worth it to wander around the career section of a school’s website See who recruits at the school, check out top employers, dig into the actual names of companies that employ students. Also, LinkedIn can help you here – especially if you know the right tricks. (Spelled out in this blog post.)

  • Go to in-person events.

Because it is summertime when I am writing this, going to class is usually not an option. But every business school goes on international and national road trips. These incredibly worthwhile presentations include a mix of admissions officers, current students, alumni, and sometimes senior faculty. The best way to get a seat is to get on the school mailing list so they can email you details of all upcoming events.  Let me say that again in italics: The best way to get a seat is to get on the school mailing list so they can email you details of all upcoming events.  Note: you will not get dinged from a school if you register to a big event and cannot make it.

  • Read through school websites.

Not just the overall marketing material and student voices, which are helpful, but look at the academics. Look at courses, concentrations, special research centers, and initiatives. Many schools have special centers for entrepreneurship and social innovation; but what about real estate, health care, luxury goods, data analytics, or global operations?

  • Look at the school profiles.

For those who aren’t familiar with the term, a school profile gives the demographics and breakdown of an entering class.  Importantly, you’ll find the average (and hopefully range of) grades, scores, years of work experience, geographic breakdown, previous industry, and more fun statistics to see if you are in the ball park for that school. Be realistic, but don’t consider these numbers gospel. In the case of GPAs, for example, schools are more interested in the quality of your transcript as well as the absolute number. (I talk about it here in this Poets and Quants article. )

  • Look at all-in costs and probabilities of financial aid.

Poets and Quants has done some great work on the average grant size and number of students on financial aid for top schools. Combine this with their work on current costs of business school, and you might add or subtract some schools.

  • Look at a map.

Even in this global world, location does matter. But do keep an open mind.  Most schools are right near major airports, so you can explore and interview without too much trouble.  Still, location tends to have a visceral pull, especially if a spouse or significant other are coming along for the ride.  (And yes, ask for their input.)

  • Look at rankings.

Of course they matter.  But be smart about them.  They are imperfect, and they shouldn’t drive your entire decision.  Or you will drive yourself crazy, and life is so much better than that.

Resilience as a Leadership Trait in MBA Admissions

resilience as a leadership traitThe essays and recommendations play a big role in MBA admissions, mostly because admissions committees are trying to gauge the candidate’s leadership potential.  When preparing your essays or your briefing sheet for your recommenders, you want to address very specific leadership traits.

Many prospective students ask me what leadership means in MBA admissions.  I completely understand the confusion! The reality is that there is no real textbook definition of leadership, and if there is, but it’s very mushy.  But one element most people agree on as a measurement of a good leader is RESILIENCE.

Executive leadership expert Rebecca Zucker, founder of Next Step Partners, wrote an excellent article on ways to identify and improve your resilience, strategies which “help you prepare yourself so that you will be ready to take on tough challenges, setbacks, difficult experiences or failures when they inevitably happen.”   Here they are in brief; check to see if these are your normal behaviors, or you need a little practice:

  1. Cultivate a growth mindset: A growth mindset looks at setbacks as an opportunity to learn.
  2. Don’t over-ruminate: Reflecting and acting is positive. But morosely wondering “what if”?  leads to unproductive wallowing. Especially stuff that is outside of your control.
  3. Take care of yourself: Be healthy in mind and spirit. Don’t be your own worst enemy.
  4. Seek inspiration: seek out stories of people who have overcome failure. They are everywhere, not just on TED. Or Michael Jordan Nike commercials.

The Resilience Checklist

Rebecca Zucker’s article also includes a resilience checklist – which comes close to helping us define leadership in specific terms that prospective and current MBA students can think about and model. Many of these attributes are similar to those that you will find as part of the MBA recommendations forms.

The full worksheet has 18 behaviors, most of which would work quite well in an essay describing personal leadership in the MBA application.  The first, “I have good knowledge of myself” is probably one of the most important – self-awareness is a particularly useful trait for leaders of all levels, particularly young professionals on a rapid trajectory.

“I am flexible and can adapt to changing situations” might be easier to write about. Businesses are unpredictable. For internal or exogenous reasons, stuff always happens at work, and it’s an asset if you can deal with uncertainty.  If you can incorporate a story of your own personal flexibility in the face of a changing work environment, you’ll be demonstrating resilience and maturity.

“I am able to see multiple perspectives on a situation” is useful for your personal growth; for example, it keeps you from ruminating or getting stuck in a doom loop. But it is also useful for working in teams; small or large there are bound to be as many perspectives on a problem as there are members of the group.

“I am able to ask for help” is a definite statement of strength rather than what looks like a sign of weakness. Digging your way out alone is never pretty (or efficient). You might think that puzzling over a knotty problem and finding the aha moment shows your brilliance, but often the opposite is true.  If you are really in trouble, not asking for help just makes things worse.  At work, if you see that your project is falling apart, get resourceful and find someone who can help you solve your problem.  You might break down a few silos in the process.

It’s Not About You

But sometimes things are just awful, and that’s when personal resilience is about not taking it personally. Lost your job? Had a project taken away? Get a rejection letter from the business school of your dreams?  In all these cases, it’s not necessary that you just put on a happy face. That’s not realistic. But look at contingency plans, your support picture and the longer-term perspective.  The universe hasn’t singled you out of bad news, even though it might feel that way at the moment.

Setbacks, failures, defeats—they are all part of life.  But resilience with grace, humor and grit, that’s what makes a leader.

Read more on leadership and MBA learning:

Some Introspection in Advance of Your MBA Essays

How to Convey Leadership in MBA Essays and Interviews

Leadership and the MBA Application

Describing Leadership in MBA Essays When You’re Not the Boss

Leadership in MBA Essays

Ex-Marine Angie Morgan

The MBA essay questions are coming out, and students are already pondering how they can make themselves stand out and show leadership in MBA essays. It’s no secret that admissions readers want to read about an applicant’s personal leadership experience.

But what counts as leadership experience? And what if you’re not the boss?

Many students who are admitted to the best business schools aren’t the boss, but are leaders anyway.  That’s because leaders show themselves in many different ways.  Even in the Marines, for example.  Angie Morgan, a Michigan Ross MBA, spent eight years as a Marine, and in many cases throughout her career, she was not the senior person on the team.  But she learned how to show leadership by prioritizing the needs of others.  That is, by prioritizing the needs of the team.

In the video below, she explains that as an individual, even if you are not leading a project, or do not have direct reports, or are not in charge of an initiative, you can still help build a team among the colleagues around you.  “If you step up an serve those around you, you’re going to build that team.”

Every business school looks for emerging leaders; leaders who can influence outcomes and inspire others.  Harvard Business School’s mission is big and bold, “We edcuate leaders who make a difference in the world.”  But to be accepted into a program like Harvard, you have to make things happen, and if you think back on times when you have well served a team, that might very well be a great example of leadership.

I like to look at Stanford Graduate School of Business’s Leadership Behavior Grid of character traits and competencies.  Some of the categories that they are defining as leadership traits are “results orientation,” ” influence and collaboration,” ” developing others” “change leadership” and “trustworthiness.”  Read through the highest standard and you will see similar themes: it’s about serving others.  For example, they describe the gold standard for “influence and collaboration” as “builds enduring partnerships within and outside of organization to improve effectiveness, even at short-term personal cost.” 

Read through the grid and you will see that the military model of service to the team is a good place to start when thinking about how you can describe your own leadership patterns.  You don’t have to have a fancy title. You can lead by stepping in and making a diffierence, empowering others, or standing up for what you know is right.

More on leadership and the MBA:

Resilience as a Leadership Trait in MBA Admissions

How to Convey Leadership in MBA Essays and Interviews

On Failure and the MBA Essays

The Growth Mindset and the MBA Leadership Essays 

The Classic: Leadership and the MBA Application

What the Best Business Schools Look for in MBA Applicants

MBA admissions

Barbara Coward

A guest post from Barbara Coward, a top education industry analyst, and founder of Enrollment Strategies, an advisory service to businses schools.

If you are applying to a “top” business school, you’re far from alone. The full-time MBA programs recently ranked in the top 10 by U.S. News & World Report received 54,694 applications last year. The acceptance rate for these schools topped at 23.6 percent, and the lowest acceptance rate was even more daunting. Stanford University’s Graduate School of Business, for example, accepted only six percent of full-time MBA applicants in fall 2016.

It’s no wonder there is so much anxiety and stress involved in the admissions process. Despite all the resources available for prospective students on business school websites, blogs, and social media pages, the selection criteria can still seem quite murky.

So what do business schools really look for in MBA applicants? If you are applying to the best business schools worldwide, there are three key things to keep in mind.

  1. Academic Ability

While an MBA is viewed in most workplace cultures as a career passport, it is first and foremost an academic degree. The importance of the academic nature of the program is underscored, for example, in the U.S. News and World Report ranking methodology. All surveyed business schools are required to have AACSB Accreditation, and business schools must meet strict quality standards for student learning to earn accreditation. As a result, prospective students applying to AACSB-accredited schools need to provide evidence of academic ability.

A school will determine your academic potential primarily through your GPA. However, the GMAT is also a key factor in the selection process and provides an opportunity to strengthen your application. You can’t go back in time to improve your GPA, but you can demonstrate your academic ability through the exam and retake the GMAT every 16 days.

Yet there can be extenuating circumstances for applicants whose numbers fall below what some business schools look for, and admissions officers often take those situations into consideration. For example, I’ve evaluated applications from candidates all over the world who have high test scores but an underwhelming undergraduate transcript because of an illness in the family or a serious personal challenge.

In fact, admissions officers often become quasi-detectives as they dig through application materials searching for proof of potential. The more evidence an applicant can provide, the stronger the application will be. 

  1. Leadership, Team, and Communication Skills

Although they’re known as “soft skills,” these characteristics are considered hardcore in the application evaluation process. After all, business schools are developing a talent pool for employers and need to develop skills that companies demand, which today extend beyond technical expertise. In fact, the top two reasons companies hire MBAs are to build a leadership pipeline (62 percent) and to support company growth (53 percent), according a new survey of corporate recruiters by the Graduate Management Admission Council (GMAC)®.

Business schools look for evidence of emerging leadership skills, which include integrity, humility, and a global mindset, among numerous other attributes referenced on Duke University’s Fuqua School of Business website.

One that’s near the bottom of the list, but certainly not the least important, is team skills. Employers across all industries rank the ability to work in and build strong teams as one of the top five performance traits for recruiting and hiring business school talent, as indicated in the same GMAC survey.

Communication skills are just as critical. Among the employers surveyed by Bloomberg Businessweek in recent years, strong communication skills were the most frequently mentioned attribute for an MBA graduate. This ability is even more important in our age of digital communications. Students need to be able to communicate effectively (clearly, concisely, compellingly) across digital platforms such as email and video conference platforms, especially considering the rapid growth of remote workers and the fact that more companies are focusing on virtual recruitment. Business schools are adjusting their admission requirements accordingly. Georgetown McDonough’s School of Business, for example, recently introduced a one-minute video to evaluate how candidates will look in front of corporate recruiters as well as how they will contribute in class.

If employers are seeking these skills post-graduation, you can bet that business schools are seeking them pre-admission. Therefore, admissions officers will be searching for evidence of soft skills in MBA application materials, typically through a resume, letters of recommendations, essays—and now video.

  1. Clarity of Goals and Contribution

The question is easy, but the answer is deceptively difficult: why are you considering an MBA? Business schools want to know more than your desire to advance your career or change industries. That’s a given. They want to understand your personal story. They need to see that you are ready and prepared. They seek a picture of your vision for the future. Admissions officers at the best business schools look for evidence of maturity, self-awareness, and an alignment of expectations that are based on a concrete definition.

Also, admissions officers need to understand how you will contribute to their MBA program. The Wharton School’s Adam Grant, one of the world’s 25 most influential management thinkers, says that people tend to have one of three “styles” of interaction. There are takers, who are always trying to serve themselves; matchers, who are always trying to get equal benefit for themselves and others; and givers, who are always trying to help people.

The most successful leaders, he argues, are givers.

The challenge for prospective MBA students, however, is that they are understandably in the taker mindset during the application process. How will the program get me a great job in consulting? How will the school increase my salary? How will the career services team introduce me to my dream company?

Successful MBA applicants are those who frame their candidacy in the giver mindset. How will I enrich learning in the classroom? How will an MBA enable me to contribute to my community? How will this business school help me improve society at large?

There is an endless list of attributes that the best business schools seek in MBA applicants, starting with adaptability, ambition, and an analytical mind.

That’s just at the beginning of the alphabet, although there is one more “A-list” word that business schools look for in applicants. Authenticity.

 

“Sometimes we get asked questions from prospective students about, ‘How do I stand out? How do I make myself more appealing to the admissions committee?’” said a member of the admissions team at Columbia Business School. “The truth is all the applicant can do is be themselves.”

Or as Oscar Wilde famously quipped, “Be yourself; everyone else is already taken.”

More on MBA admissions strategies:

Resilience as a Leadership Trait in MBA Admissions 

How to Convey Authentic Leadership in MBA Applications

 

 

The Growth Mindset and the MBA Leadership Essays

MBA leadershipI am not a very good athlete, so you can imagine everyone’s surprise when I decided to pick up a new sport. I decided to learn to row – not in a traditional rowboat, but in a long skinny shell with two 10-foot oars. It isn’t that hard, except you’ve got to do a few things right or you end up in the water.

But to really enjoy it, at least for me, I had to accept the fact that I was a novice.  And that meant not expecting myself to get it perfect from the very beginning.  As I found myself cursing my inability to square my blades, I realized that my mind was not allowing me to enjoy what should be a serene, zen-like experience.

Mindset
I was guilty of what Stanford psychologist Carol Dweck calls the “fixed” mindset instead of the more constructive “growth” mindset.  Dweck is an authority on things like brain science and learning. In her book “Mindset: The New Psychology of Success,” she describes the growth mindset as a far superior method for transforming effort into success.  The growth mindset allows you to focus on self-development, self-motivation, and responsibility for results.  A growth mindset keeps you from saying, “I’m a natural-born loser,” and instead saying, “I need to work harder at this.”  In a growth mindset, people are not afraid to make an error, look silly, or show a deficiency.

The growth mindset represents a key leadership characteristic.  It’s no surprise that since 2015, Kellogg’s MBA program has this preface to one of the application questions: Pursuing an MBA is a catalyst for personal and professional growth. How have you grown in the past? How do you intend to grow at Kellogg? 

Dweck’s decades of research are particularly relevant for people aiming for business school.  The growth mindset resonates on a strategic level, considering the personal leadership attributes sought by admissions officers of most business schools. It also resonates on a tactical level, in studying for the GMAT or GRE.

 

The Strategic: Leading
Business schools seek out people with attributes that will make them leaders who will change the world for the better. They are looking for people who don’t give up and see hurdles as a challenge. They want people who can learn from others to improve themselves and their environment.  I worked with one student, now on his way to Wharton, who appeared on the surface to be an all-or-nothing high achiever. At first, he looked like the “typical MBA,” never a good sign. But later, in his application and interview, he mentioned something both disarming and revealing: he never learned to swim. So as an adult, he decided to jump in.  When discussing his recent lessons in swimming, he said “It is never too late for a fervent beginner.” That’s the growth mindset.

The Tactical: Testing
Standardized tests demand a growth mindset. The computer-adapted tests, which give you harder questions if you answer right and easier questions if you score wrong, can send the fixed-mindset student into a failure spiral that will ruin any chances of a decent score.  The growth mindset, however, allows the student to work toward mastery. To put the time and the effort into learning the material and the process.   The growth mindset allows the student to embrace the possibility that skills can be learned (they can), and that sustained effort (and a good coach) leads to accomplishment.  The person with a growth mindset loves to conquer a challenge, while the person with the fixed mindset demands perfection right away.

There may have been a time when business schools were looking only for people with natural-born talent.  But as the world has changed and management science has evolved, MBA  programs want growth-mindset types in their classes. They want people who are willing to try new things, and are prepared to not be perfect the first time out.  They want people who think of themselves as works in progress.

And that’s why learning a new sport (or skill, or technique, or trick) isn’t so bad. I know I was clumsy and got it all wrong with my first attempt at rowing. But no harm done.  I’ll just keep trying until I get it right.

Whenever that may be.