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April 23, 2012

Want to get into b-school? Be yourself!

What's the first thing that comes to mind when you hear the word "authentic?" My bet would be that you don't automatically think of an MBA student. But someday, you just might.

Why? The top business schools are not only looking for applicants with academic potential, but they’re seeking out a new breed of leader—­someone who’s passionate, collaborative, and wants to make a difference in the world. They want applicants with more than good grades, impressive scores, and a letter of recommendation from the likes of Bill Clinton. They’re looking for people who can use their hearts and souls when making business decisions—leaders who are authentic.

Many applicants shudder at the thought of revealing themselves in a business school application (“what if I look imperfect?”). But believe it or not, that’s OK! If you try to be the person you think schools want to read about, you’ll end up sounding just like every other candidate out there. So, take a look at these do’s and don’ts that will help you show business schools your true self—and your leadership potential.

Do: Be Yourself

It’s corny, but according to Mary Miller, Assistant Dean of Admissions at Columbia Business School, it works—and it’s exactly what admissions committees are looking for. “Be yourself,” she advised in a BusinessWeek interview. “We're all unique individuals; we all present ourselves in a unique way…After you read 10,000 applications, it's pretty easy to pick out who really shares themselves.” So do some self-exploration before you start writing. Figure out your own motivations and influences to get in touch with the genuine you.

Don’t: Presume You Know What They Want to Hear

Don’t model yourself after admitted applicant “essays that worked.” Admissions readers are wise to the templates that are out there, and they’ll take away from your own authenticity.

Instead, write what you want people to read in your application essays. As Director of Michigan Ross MBA Admissions Soojin Kwon Koh says, “the uniqueness comes when you answer questions using your own experiences and your own points of view developed through your unique way of processing experiences. An off-the-shelf approach is a sure way to distinguish yourself—in a negative way.”

Do: Learn By Doing

Of course you can take Myers Briggs or Enneagram tests to determine your leadership style—but the best way to develop it is to go out and make things happen. Take on a new responsibility at work, join a non-profit steering committee, or mentor someone who could benefit from your expertise—and use those experiences to talk about your leadership potential. Take note of how you work with others when you are faced with challenges and actively seek feedback on ways to improve.

Don’t: Be Like the Tin Man

Harvard Business School Admissions Director Dee Leopold claims that the best candidates have a “Wizard of Oz” combination: brains, heart, and courage. We all know plenty of smart, gutsy people—some of whom have risen to the top of their organizations. But many are missing a crucial ingredient: heart.

Authentic leaders show heart, which comes in the form of their dedication to their purpose, and their commitment to their values. Throughout the application process, don’t be afraid to reveal your passion—it’s this quality that makes someone a leader worth following.

Do: Stand Proud of Your Success

It’s OK to be excited about your accomplishments—in fact, you should showcase them in your essays and interviews. Tell stories to illustrate your experiences and potential. . Just don’t forget to acknowledge the contributions of your teammates and supporters too. . Success is something you should be proud to share, but chances are, you didn’t get there alone.

Don’t: Brag

While showing pride can be an asset, don’t get carried away—you can be gracious about your accomplishments without boasting. Dwell on your accomplishments too long, and you risk sounding like what cynics call the “typical MBA,” not a future leader. Also, don’t be afraid to own up to your mistakes. Nobody’s perfect, and admitting that you’re fallible can demonstrate maturity.

As you begin to prepare your essays and applications, you may think your own stories aren’t so interesting. In reality, the opposite is true—the more genuine you are, the more interesting your stories become. That authenticity will improve your chances for admission, and pave the way for success—in business school and beyond.

This article originally appeared in The Daily Muse.

April 9, 2012

How to Make the Most of Your MBA: A Primer for Entrepreneurs-to-Be

This week's tips come courtesy of Alison Albeck Lindland, a fellow Vassar graduate who went on to get her MBA from Columbia Business School, graduating in 2008.  Prior to business school Alison worked on the Goldman Sachs and Jaguar accounts at OgilvyInteractive and was an early team member at TheaterMania.com, a startup media and ticket software company. After graduating from CBS, she worked at

Alison Lindland and colleague

American Express Interactive, and is now director of business development at Kohort, a venture-backed  group management and event planning platform.

Alison says these tactical pointers cover a potential entrepreneurship career. Personally, I think her recommendations apply to anyone hoping to take a big jump into something new and different careerwise.

  • Get to know everyone in your cohort. There’s a temptation to gravitate to the people you are just going to be friends with or have to work with in study team but guaranteed you’ll be missing out on some terrific people and contacts.
  • Network with your classmates. Once you’ve identified the industry or area of focus that you want to pursue after graduation use all the internal databases and  or LinkedIn to identify current classmates who worked in that field and do coffee chats with them. I met lots of great classmates who I otherwise would never have met socially, whose background ranged from telco engineers who gave me mini tutorials in how mobile tech actually works to mobile entrepreneurs who had worked on interesting early mobile dating apps.
  • Get to know your professors personally and tell them what you’re interested in.  Having gone to a small liberal arts school, I came from a mindset where you always got to know your profs personally and would have them over to your house for dinner.  Most business schools are not this way so you can really stand out if you make an effort and you never know what it will yield.
  • Seek out opportunities to TA for your favorite profs or help with their research.  I TA’d for Prof. Whadwa’s excellent strategy consulting class for a session for the Exec MBA class.  This a great chance to get to know my favorite professor better, and to know 65 terrific Exec MBA students.
  • Volunteer to help out institutes or think tanks in your school.  You would be surprised how many institutes and think tanks your school funds.  Though the smaller ones may not have a great profile to students you would be surprised to learn how many industry and high profile alums may be involved.  At CBS I was thrilled to discover the Columbia Institute of Tele-Information and I simply walked in, introduced myself and said I wanted to get involved.  Turns out they were in the early stages of planning a Location Based Services conference for the summer . Given my contacts from my summer doing mobile at Amex, they were happy to enlist me.  It was without a doubt one of the best experiences I had in school.
  • Get off campus and talk to everyone.  If you’re nervous about cold-emailing people for networking coffee chats, start with the guest speakers in your courses. Connect with them in person before they left the actual classroom and follow up that day asking for a coffee.  It’s a great warm intro and usually you’ll know more about what they’re working on after the talk.  In my case, if they could not meet with me, they would give me someone else to talk to.
  • But if you’re nervous about cold emailing people - don’t be.  Being an MBA gives you carte blanche to reach out to people - it is what professionals expect of MBAs.  Just say you’re really interested in something related to their career or company and can you come to their office for a 20 minute coffee chat.  90% of the time people said yes to this request - and again, if they didn’t I’d ask them if there was someone else I could talk to. Remember to make networking hay while the MBA sun shines.  And set yourself a target - like 3 a week so you keep doing these.
  • Take a class in another school or that is widely cross registered. MBAs are great but you’re going to spend most of your career working in cross functional teams - why not get to know these people (lawyers, journalists, designers, developers etc) now.
  • Lastly, I’d be remiss if I didn’t remind you to go to all the happy hours and on some major group trips.  You’re working hard in school and this is a great way to recharge and really grow those relationships - plus you’ll never have time in your adult lives to do things like this again.

Phew! It's exhausting, but that's the beauty of the MBA experience -- it's all there for you if you want it.

 

--Betsy Massar, taking a leaf from the Alison Lindland playbook. For those who want to jump in and experience the busy and rewarding MBA experience, make sure you set yourself up for success with Admitted: An Interactive Workbook for Getting Into a Top MBA Program.

March 20, 2012

Hoop Dreams and the March Madness of Admissions

Waiting to get admitted is enough to drive a person mad. So mad, that it's a wonder that the admissions process didn't grab the name "March Madness" before college basketball did. The expression goes back to 1939, but it has only been used in relation to the NCAA basketball tournament since 1982. (North Carolina over Georgetown by a point).

Not quite the NBA

As an admissions professional, I see many similarities between the two--not just the anticipation, operatic emotions, and decisions rendered in March and April. They are both magnificent, if not dangerous, obsessions. I’ve listed five major similarities below, and a bonus of one big difference. Disclosure: my experience is mostly with the competitive world of MBA and professional graduate programs, but with a little imagination, we can all stretch it to college admissions, job hunting, and anything else with beautifully unpredictable results.

1. Competitive strategy
Like the NCAA basketball tournament, you have to compete to get into the school of your choice. There are more contenders than spots.  Not all talented entrants even qualify.  That’s because the league they come from might be semi-professional, like the ACC or the Big East.   It’s kind of like being a mediocre analyst at McKinsey – you know you are playing with the big boys, but you might not get invited to the Big Dance.

2.  First-round washouts
These days, most selective MBA programs require an invitation-only interview. That means that you might know pretty early on that you’ve been disqualified.   Some highly-seeded teams fall out early – Duke surprised everyone this year.  Still, I’ve seen people who have been dinged without interview from Harvard but got into Stanford.  It’s never rational.

3. The Gamble
Face it. You’ve got some money and pride riding on the outcome: You spend months of time and energy studying for the GMAT or GRE, you have to beg your boss for a recommendation, and if it all works you get bragging rights for a lifetime.  Well, at least until September.  The good news is that you are vindicated, even if everyone else thought you were crazy.

4. Being an expert makes no difference
You can parse the rankings all you want, argue that Kellogg is more prestigious than MIT Sloan or the other way around. That the Economist is crazy to rank Harvard behind … UVA?  No one is objective; not fans, not referees, not players.  Admissions committee members are similarly not entirely objective; they are human too! Like basketball, admissions is much more an art than a science.

5.  You’ll never know until you try
If you don’t play, you can’t win.  And if you lose, you can lick your wounds; but if you want it, you’ll keep trying. You may fire your coach and change your strategy, but you’ll get back on the court. You could be the next Cinderella team. Keep your eye on the ball and you could be in the Final Four before you know it.

Oh, there are some differences. In the case of admissions, you probably never take time away from work to work on an application or check its status, as you might for an exciting game. You probably never talk about it ad infinitum with friends and family, or go out for beers after its all over. And naturally, you don't fork over $150,000 if you win. Last time I checked.

-- Betsy Massar

March 14, 2012

Goldman Sachs, Greg Smith, and Leadership (Updated!)

The Greg Smith resignation letter from Goldman Sachs is a big deal. And yes, it has some repercussions about leadership and the way it is taught at MBA programs.

Already I’ve seen comparisons to Jerry Maguire , which I get, and Don Draper regarding quitting his tobacco client, which is a bit of a stretch. Here's the letter in its entirety.

goldman mug

A little coffee with your New York Times op-ed piece?

The internet is abuzz with parodies  and character assassinations.  For me, a focus group of one, and former Goldman Sachs employee, I say right on.  Not because I have any inside information – I don’t, but because the winner is the discussion.

The winner is the discussion because we are able to talk about what a great company is supposed to be.  For years, Goldman Sachs has been considered one of the most admired companies in the world. Ranking #2 in “megabanks” by Fortune, , but more importantly, at least for those in the MBA and Wall Street world, it is ranked #1 in prestige by crowdsourced career site Vault.com.

Greg Smith is not the first one who fired the opening salvo. I happen to be reading Michael Lewis’s The Big Short, and it’s clear to me that Goldman Sachs, like so many other pre-apocalypse Wall Street firms, were selling some weird stuff in their “structured products.” Lewis didn’t come out and say “Goldman is amoral,” but there’s a lot of support in that very book for Greg Smith’s accusations of putting profit before clientsL

Did Goldman Lose its Leadership Vision?
I think what is exciting also about the conversation, is that Smith had been such a champion of Goldman’s culture for the right reasons.  He wrote in his letter,

Culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. … It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization.

And I hope that’s what MBA students around the country start debating. Culture. Profits. Purpose.  What is a great enterprise anyway? How can a leader change organizational culture?

The sheer excitement about this public resignation letter is gets people talking. Sure, there will be some very foolish things said in the unfettered world of internet discourse. But if this letter is one of the many in a series of wake-up calls for the global icon called “Wall Street,”  then have at it.  Smith is no fool. He knew he would be skewered personally, but he opened the door to the conversation.

UPDATE: some decent, uncrazy comments, first from Justin Fox of  Harvard Business Review and also from Bob Bruner, Dean of the UVA Darden School.

Let the discourse begin.

-- Betsy Massar

 

February 28, 2012

Leadership Do's & Don'ts Learned from the Oscars

While Joan and Melissa Rivers commented on Oscar styles, Master Admissions focused on the lessons for leadership, especially for those

Surprise! Angie was a don't!

thinking about applying to business school, a job, or accepting an international award. Here are five takeaways from the Oscars that will resonate with MBA wannabees.

1. Have a brand, but be humble: The Oscars are known for glitz and glamour, not for authentic emotions. Some say the same for MBAs.  So even if the odds are in your favor, like they were for Octavia Spencer, show your humility. It’s a powerful way to command respect.

2.  But don’t go overboard on what you show and how you show it: Angelina Jolie didn’t need to strike a pose, and when she did, leg and all, she played the fool.  Prospective MBA’s want to know not to act too impressed with their talents.

3.  Use your age to your advantage:  Christopher Plummer had no apologies about his 82 years and showed the world that he was hardly over the hill.  Grace, maturity, and a sense of humor about yourself will always add to the conversation.

4. Give credit where credit is due: Meryl Streep thanked her husband first and her hair and makeup guy second.  She showed leadership by broadening the spotlight to include her important teammates.  And we loved her for it.

5. When in doubt, go global: Although the Oscars are in Hollywood, the stage was international.  Whether from France, Iran, or surprising the audience with fluent German like Sandra Bullock, we all speak the same language. It’s a small world after all.

These lessons are a good reminder that leadership shows up whether you are honored for your accomplishments--or letting the spotlight shine on your colleague. The world is a stage, and let's face it everyone has a little Hollywood in them.

---Betsy Massar

This post is a condensed version of the March 1 Forbes article.

Betsy Massar is founder of Master Admissions and author of Admitted: An Interactive Workbook for Getting into a Top MBA Program , published by 85 Broads. A graduate of Harvard Business School, she has worked on Wall Street for Goldman Sachs and in the financial markets in the US, Europe, and Asia. In addition, she has been a business journalist and a communications coach at the Stanford Graduate School of Business. 

February 22, 2012

LOL: Managing Stress While Waiting

It's a tough time in the admissions cycle.  At least for prospective students. Most have submitted applications and are waiting for interviews, or have had interviews and are waiting for decisions. There’s an absence of information that ‘s unnerving. It’s just plain stressful. So is waiting for a job offer or waiting for a chance to be in the starting lineup of the New York Knicks.

So, what do you do?

Laugh.

Who's laughing last?

I got this idea from Martha Beck, a well-known life coach who also happens to be  sociologist with three degrees from Harvard (BA, MA, and PhD).  She wrote the following line and reading it today just hit me right.

The more stressful, dangerous, baffling, or unpleasant your situation, the more important it is to laugh at it.

She's right.

Scientific proof that laughing works

We all know intuitively that laughter is the best medicine, and research backs up this aphorism. Scientists at the University of Maryland Cardiac Medical Center found that clips from humorous films like “There’s Something About Mary”  caused arteries to expand, increasing blood flow to the heart. The Brits have taken it one step further, declaring that laughing in a social setting increases endorphins, that is, mitigates pain.  Or, as the researchers stated in the proceedings of the Royal Society of Biological Sciences, “The results show that pain thresholds are significantly higher after laughter than in the control condition. We suggest that laughter, through an endorphin-mediated opiate effect, may play a crucial role in social bonding.”

So what does this tell you?  Stare that empty email box in the face and laugh right at it. Or put yourself on a steady diet of old reruns of Arrested Development, Monty Python, The Simpsons, old John Belushi sketches, or funniest cat videos.

Some Reading Too

I actually recommend picking up a good book too. Books often take longer and grab more of your idle brain matter than a movie, or a Daily Show news report. I’m sure there are some scientific studies that measure brain relaxation waves while escaping through the pages of a book.  I hate to admit it, but I actually found the Hunger Games riveting.  You won’t learn any new vocabulary words, but you’ll keep turning the pages; it’s a guilty pleasure.

I’m also reading a whole bunch of books on the brain and happiness; I’ve always been interested in the brain and the mind, and after reading Delivering Happiness, by Zappos founder Tony Hsieh, I stumbled upon Stumbling on Happiness, by Dan Gilbert. Essentially, he, like Sonja Lyubomirsky, author of The How of Happiness, find that we consistently get wrong what we think will make us happy.

So, if you are all wrapped up in your single-minded pursuit of getting exactly what you want *right now*, relax, laugh at it, laugh at yourself, and if you are still having trouble cracking a smile, laugh at me.  That’s what my whole family does, so why not you?

– Betsy Massar

Don't forget to check out the Betsy Massar's book Admitted: An Interactive Workbook for Getting Into a Top MBA Program, available on Amazon.

January 30, 2012

Interview Tips for When It REALLY Counts

Note: this post is not just relevant for business school, but appropriate for any position in a team-based company.

Welcome to the MBA admissions waiting game. And it’s interview season! The rules for interviewing for a spot in the next business school class are really no different from the rules for interviewing for a coveted job. I reckon that most of you reading this have passed that test several times over, so you are already more than halfway there.

Whether it’s for work or for school, the goal of the interviewer is to figure out what kind of a person you are in the flesh. But there’s a question behind that question too—they want to know how you will fit in. It’s partly about being likeable, but most of all, it’s being able to contribute. Consider the following:

1. The interviewer wants to know how you will be as a learning team member

Are the other members of the team going to be excited because of your industry or academic perspective? Will you be able to add something from a global perspective? From a business success or failure? The interviewer is looking for someone who is going to pull her own weight and make the team stronger.

You’ve got 30 minutes to show your stuff. Your interviewer is channeling those three or four other study group members, those who have earned their way into a very competitive school, and want to know what you bring to the table.

2. Create a portrait through vignettes

You’ve got to tell stories. I like to think of these stories as vignettes – brief scenes, as in a movie. According to Wikipedia, a vignette is a “short impressionistic scene that focuses on one moment or gives a trenchant impression about a character, an idea, or a setting.” You are telling stories that give a “flash” impression of you. Another definition of vignette is a portrait; you are filling out the portrait of yourself that you began with your essays.

What kind of stories are you going to tell? It’s ok to tell some of the same stories that were in your application. But tell them in a way as if you were talking to your three or four classmates. Tell them, with specific examples, why you will work smoothly together, how you will help them with their thinking about a problem, tell them how you will help them succeed.

3. Make it Stick

Stanford business school professor Chip Heath and his brother, Dan, a fellow at Duke’s Fuqua Center for the Advancement of Social Entrepreneurship, wrote a book called Made to Stick. This book, about how ideas gain traction, made it very clear that people have to “get” your message. And what’s the biggest recommendation? Tell stories. Tell stories that are concrete, with a real problem and a real solution. And who is the hero? You.

4. Stay humble

Granted, you are telling stories about why you are great. (P.S. You are!) But don’t overdo it. You’ve done some great things, and you can add to the party, but your classmates will be turned off if you show up like you are too cool for school. UC Berkeley comes out and says that they their students possess confidence without attitude. I think they are onto something.

So tell them sticky stories (without being arrogant) about what you will bring to the classmates of this very competitive business school.

Piece of cake.

–Betsy Massar

Don’t forget to check out our new book Admitted: An Interactive Workbook for Getting Into a Top MBA Program

December 22, 2011

Admissions in the Age of Video

It's official.  Your camera-ready self is the ticket to getting into business school.  At least at the Chicago Booth School of Business. In the competitive world of MBA admissions Chicago Booth had a brilliant idea, and they are rolling it out for their wait-listed candidates.   They are asking those prospective waitlisted students to put together 90-second infomercial about themselves.

Says Carrie Lydon, Associate Director of Admissions at Chicago Booth. “Often candidates would like to introduce themselves via a face-to-face conversation, and a video provides the opportunity to create a personal connection …In terms of the content--it is entirely up to you."

What a great way to see just how articulate a student will be in the classroom (cold calls, anyone?) How well-thought-out is their argument asking the committee to “pick ME!”? How sincere, how grounded, and most of all, how believable is the candidate?

But students should be aware that it’s not just an advertisement for themselves. It’s new information. Here are five tips for selling yourself on video:

  1. Have something to say: Use the 90 seconds to actually make a case for yourself, It’s not about how much you want it;  it’s about how and why you are a great fit for the school.
  2. Be organized: Identify the two-to three specific things you want to convey in your message and clearly articulate them.
  3. Talk to the admissions committee directly: the people watching the video want you to connect with them.
  4. Rehearse:  It’s a performance, and you’ve got to be prepared.
  5. Be confident, but not arrogantSounds easy but so hard.  Take a tip from the UC Berkeley Haas School of Business value of “confidence without attitude.

And here’s the great news, Master Admissions can help you put your video together.  We can help you put together a grounded, sincere video of YOU being YOU. We can help you be effective. We advise on the important non-verbal communication, tone of voice, and your ability to speak from your best self.  As Ralph Waldo Emerson said, “What you are speaks so loudly that I cannot hear what you say.”

Want more information? Contact me at Betsy@masteradmissions.com and we’ll make it happen!

November 14, 2011

Finding the Right Fit in a Business School

Lots of angles (and curves) to measure

There's a lot of talk about finding the "right fit" when it comes to selecting a business school.  But as is the case with many words du jour, "fit" is often thrown around without much explanation of what it means.  What exactly is a "right fit," and how is this relevant to applying to b-school?

Self-knowledge is the secret

Fit is so popular that I've written about it myself , but more importantly so have some of the top business schools. Some schools are more specific than others, but the general message is more or less the same: Know yourself.  Understand the cultures of the schools to which you are applying.  Be able to explain exactly how you would strengthen these cultures.

Before you can even think about what schools fit you best, you have to really look at yourself.  You need to know yourself very, very well.  Your level of self-reflection will absolutely show through in your application, and helps admissions officers understand you and how you could fit into the life of their school.  Soojin Kwon Koh, Director of Admissions at Michigan’s Ross School of Business, writes in her blog, "Our ability to evaluate your fit with Ross depends on how well you know and tell us about yourself.”  So know thyself!

Common culture with the school

Rose Martinelli, then Associate Dean of Admissions at Chicago Booth, stressed the importance of fit in an admissions chat, “… it all boils down to fit. The ability of the applicant to communicate path and plan, and why Chicago is a good match for them professionally and personally.”  It’s not just about who you are at work.  It’s also about who you are as a son or daughter, friend, and community member.

Berkeley-Haas, in the “Essays” section of its admissions page, goes so far as to say that it seeks applicants “who demonstrate a strong cultural fit with our program and defining principles.”  This does not mean that everyone at Berkeley shares the same opinions and experiences—quite the opposite.  It does mean, however, that students at Haas share a common culture, as outlined in the school’s Defining Principles; students question the status quo, have confidence without attitude, are lifelong learners, and think beyond themselves.

While Stanford’s Graduate School of Business doesn’t explicitly mention “fit” or “match” on its website, it does outline its “Core Values”: intellectual engagement, respect, integrity, striving for “something great,” and owning your actions.  To be a good fit for Stanford, you need to be able to demonstrate your alignment with these values.

Cornell’s Johnson Graduate School of Management touches on fit in its third essay question, “What legacy would you hope to leave as a Johnson graduate?”  The question explains that “the adcom wants you to really evaluate what ‘fit’ means to you for Johnson.  ‘Fit’ is different for everyone, so we want to see how authentic and purposeful you are about applying.”

-- Researched and written with help from the great Alice Woodman-Russell

October 11, 2011

Do You Need an MBA to Understand Business School Rankings?

Harvard is only ranked #4 by the Economist

A lot of clients ask: How much do business school rankings matter?  Are they accurate?  How should I use them to help me figure out what schools to apply to?  If you’ve had any of these questions, you are in very good company.  Figuring out how to interpret the rankings can be confusing.

Enter Tuck’s Assistant Dean Penny Paquette, herself a Tuck graduate.  Her recent blog post provides a much-needed but often-absent context for understanding rankings.  She explains that the major difference between rankings is the data they use (statistical data or survey opinions), and she outlines which rankings use which kind of data.  Some rankings, like those of US News and the Economist, use a combination of “hard” data and opinion.  Paquette also highlights additional factors in understanding rankings.  For hard data, it’s important to consider how rigorously the ranking publication verifies and analyzes the data.  For opinions, be mindful of whose opinion was asked, and when and how surveys are administered.

The bottom line: rankings provide certain information about schools, but they tell only a small part of the story.  Take them into consideration, but don’t give them too much weight.  Rankings can never fully reflect the rich complexity of business schools’ offerings, and they are no substitute for what matters most: finding schools that best fit you. And this advice comes from a school that has been ranked #2, #6, #7, #14, #18, depending on who you talk to.

Here’s a slightly condensed version of Paquette’s original post (to read the full text, go to her blog):

“There are five major rankings…BusinessWeek, The Economist, US News & World Report, Forbes, and the Financial TimesThe most important distinction among … [the rankings] … is their sources of information: statistical data or survey-based ‘opinions.’  Forbes and the Financial Times use hard data collected from the schools themselves and MBA alumni. BusinessWeek bases its rankings almost exclusively on survey-based opinions of students and corporate recruiters. US News and the Economist use a balance of hard data and opinion.

The usefulness to individual applicants of rankings based on hard data depends heavily on which data the ranking chooses to include (e.g., the FT includes lots of data designed to measure how “global” a program is while US News puts an emphasis on student quality and selectivity) and how rigorously the ranking publication checks the data and analyzes it (e.g., US News sends us back an analysis of this year’s data versus last year’s highlighting big differences and the FT visits schools periodically to do an audit).

The value of opinion-based rankings varies based on the selection of the group asked to give opinions (HR directors of companies that recruit MBAs in general versus managers who actually recruit at the various school), the way survey questions are crafted (asking the respondent to answer questions relative to expectations or relative to other programs that they have no knowledge of), and when the opinions are gathered (students as they are just graduating versus alumni 3-5 years out).”

So remember your first statistics lesson before you even go off to your MBA program -- almost anything can be done with numbers, so be honest with yourself!

--Alice Woodman-Russell

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© 2008-2012 Betsy Massar, Master Admisisons, Berkeley, CA. All Rights Reserved.