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May 9, 2012

What You Can Do NOW to Boost Your MBA Application

With deadlines for MBA applications about six months away, you might think there's not much you can do to prepare right now other than take the GMAT or GRE. Even if you’re planning to apply to schools next year, you may think that your profile as a candidate is already set in stone.

Line up here

But the truth is, you can always improve—and whether you’re a few months or years out, you’ve got time to plan your campaign and enhance your application. Admissions officers are looking for several key things—ability to handle academic rigor, career progression, and leadership potential. "Virtually every MBA program looks for students who exhibit intellect and leadership," writes Derrick Bolton, Director of MBA Admissions at the Stanford Graduate School of Business

Here are three concrete ways you can demonstrate your potential to admissions officers—and even beef up your future employability, too.

 Take Undergraduate Quant Classes

Because business schools are very quantitative, they want to know that you can do the work that’s required. Plus, potential employers will be happy to see that you can handle numbers as well."We want to be sure that you will be able to handle the rigor of Tuck’s quantitative program." says Pat Harrison, associate director of admissions at Dartmouth's Tuck School.

You might think your GPA, that C+ in economics, or the fact that you’ve never taken calculus will doom you—but that’s not the case. You can take an online calculus or business statistics class from any number of accredited universities now, and use those grades on your business school applications. In many cases, accredited, graded courses can mitigate a less-than-perfect undergraduate record.

Another option is a specialized pre-MBA program, like the Tuck Online Bridge program, which offers courses in a number of disciplines, including managerial economics (statistics). If you’re just trying to beef up skills and don’t care about a grade, take a look at MBA Math, which offers very practical lessons in financial math, statistics, accounting, and microeconomics.

Demonstrate Your Career Progression
Admissions officers and potential employers are looking for people who have moved forward and will continue to advance in their careers. Chicago Booth's evaluation criteria includes "track record of success, resourcefulness,and sense of personal direction." Success doesn’t necessarily mean title advancement—rather, it’s about taking on an increasing level of responsibility. And not just when it’s offered.

Naturally, if your boss assigns you to spearhead a new product, run with it. But if that opportunity isn’t handed to you, you can volunteer to mentor new employees on your team, or develop an outreach program to educate internal clients about your group’s initiatives.

You can also ask for additional assignments that might teach you about a different part of the company. As long as your boss doesn’t think you’re leaving your current assignments unfinished, see if you can broaden your experience. Ask to join an existing firm-wide committee, or simply offer your services when you see someone else feeling overwhelmed.

These are little things that can expand your influence within your current position and propel you to a promotion, whether it’s official, unofficial, or even into another company. And even if you don’t get that promotion before you turn in that b-school application, the extra responsibilities and your initiative will reflect well on you.

Expand Your World
You can also look outward to the community to increase your leadership experience. "Our students...have to be seen as people who are creating value in society," said Harvard Business School Dean Nitin Nohria.  I’m not suggesting that you merely add to your list of extra-curricular activities—the way you are involved in an activity can tell an admissions committee member more about you than can a lengthy list of organizations. So, look at what you’ve already been involved in and where you can deepen your leadership role and have a greater impact on your organization.

If you’ve been tutoring at-risk youth, for example, you might create and implement a strategic plan to bring on more volunteers to your group. Or if you’ve been raising funds for an annual 10K, you could develop relationships with corporate sponsors who may be able to help year after year. These types of activities can illustrate your initiative and long-term planning skills, and can be incorporated into the stories you tell in your essays.

As a business school applicant, you always have the potential to learn and grow—even in the months before you apply. Continuing to add to your portfolio of skills and achievements as you’re selecting schools and studying for the GMAT will show a propensity toward mature leadership—and that’s something admissions officers can’t wait to read about.

January 19, 2012

What is the Best Business School for a Career in Finance?

Because I worked for Goldman Sachs right out of business school, later worked in investment management, and now consult with companies like BlackRock, lots of people ask what MBA program they should attend if they want a career in finance.  And they also wonder if they should go to graduate school at all. For the purpose of this article, let's assume you want to pursue an MBA.

Riches can be yours!

Here’s what it does not depend on: rankings.  Rankings have something to do with what business school or finance degree you might want to research, but they won’t tell you whether it’s the right program for you.   And rankings are all over the place.  A few months ago, I wrote a blog post on this subject with lots of quotes from the Assistant Dean at Dartmouth’s Tuck School of Business. Tuck has been ranked overall #1, #6, #7, #14, #18, depending on who you talk to, and encourages students to look beyond the actual listing.

Figuring out the Right Path

So which of the top schools might be better in corporate finance, or M&A, or hedge funds, or private equity? Is Wharton better in finance than Harvard, or is Stanford the best way to get a job in venture capital?  There are a lot of opinions all over the internet – and many of them are simply wrong.  So what should you believe?  You’ve got several ways to figure this out.

1.  See who is recruiting at your target school.  Not everyone gets a job on campus, but take a look at the recruiting list for any school. You can usually find it through their employment report. Here is Columbia Business School’s  employment report, for example. The list of recruiters starts on page 10. Or here’s UC Berkeley Haas’ list of companies that have come on campus.  Examine it carefully. You might not find some of the big New York PE shops, but you’ll find Cambridge Associates, which for you, might be an even more likely stepping stone into venture capital, private equity, or hedge funds.

2.  Visit the schools and/or talk to students about their experiences. With LinkedIn and Facebook, you must know someone who knows someone.  Many schools put student contact information right on their website, for example, see this list of student ambassadors from Michigan Ross or NYU Stern. Others, like Harvard Business School, present interviews of students—who are all easy enough to find if you look hard enough.

3.  Investigate clubs at your target business school. Columbia’s Private Equity and Venture Capital Club has its own website, and don’t be fooled by the log-in.  Just jump to club officers, and you’ll have plenty to work with.  More interested in Chicago? Booth doesn’t just have a finance club, it has a  corporate finance club, an investment banking club, a PE club, and and even a distressed investing and restructuring club.

4. Talk to actual people in your target industry and find out what paths they took. While the big guys in the PE industry look like a straight shot from Morgan Stanley M&A, venture capital, hedge funds, and other investment firms might have a more circuitous route. Hey, Mitt Romney came to the private equity business by way of management consulting, so why can’t you?

5. Network.  This is essentially the same as item #4, but it’s so important that I am mentioning it again.  Because you want to hit the ground running once you get to business school, it makes sense to start building your contacts now. Brian DeChesare, an expert on breaking into Wall Street, encourages prospective financiers to “network like a ninja” because, “even if you’re at Harvard you can’t rely on on-campus recruiting.”  And even if you get an interview through on-campus recruiting, you want to have friends who can help you actually land the job and do well there.

And in the meantime, have fun with the process. You’ll learn a lot and meet lots of people. And it’s definitely more enjoyable than signing up on e-Harmony.

--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

September 25, 2011

Go Global with an MBA Exchange Program

The World is Your Oyster

Many MBA programs allow for, if not encourage or require,  study abroad, and students who leave, as well as those who host, are amazed at how much they learn.

International exchange programs were brought home to me at a Forté Foundation event last week in San Francisco when I met Katie Cannon,  a London Business School student currently on exchange at UCLA Anderson. Katie’s infectious enthusiasm for LBS and international study—and her passion for the arts and her interest in media management— make a semester in LA perfect for her.  There’s no question that the Anderson students will be learning from Katie as much as she will be learning from them.

Katie is hardly the only one studying abroad during business school.   More than half of the top MBA programs offer full-term international exchange programs. London Business School is a good example. It’s a particularly international school; about 35% of its students spend a semester in a foreign country, and a typical class may have people from over 60 different countries.  To facilitate exchange, LBS partners with over 30 schools worldwide, and students at those schools can also study in London.

UCLA Anderson, located in southern California, is an ideal exchange choice for students like Katie who want to pursue careers in film, television, or talent management—or even financial services and venture capital.  It’s also a great home-base business school for students who want to study abroad— 20% participate in an international exchange.   UCLA—along with Cornell Johnson, Duke Fuqua, NYU Stern, Chicago Booth, and Michigan Ross—is a member of the Partnership in International Management network , an international consortium of business schools, and it also has exchange agreements with schools outside that network.

UC Berkeley Haas offers exchange programs established with several leading b-schools, “if,” says the website, “you can bear to be away from Berkeley.” (Click on the Haas link for useful descriptions of each of the exchange schools.)  In addition to international offerings, Haas also has an exchange with Columbia Business School, giving students the chance to spend a semester in New York City.

Most other top schools require some form of international experience during their MBA years. For example, Yale School of Management mandates that students take a short-term trip abroad in the second semester of the first year.  Professors lead the trips in countries they specialize in, from Brazil to Estonia to Israel to Japan.  Yale also offers a more traditional fall term international exchange for second year students.  Stanford GSB  also mandates a “Global Experience Requirement” which can be fulfilled by study trips or a summer immersion program.

Another resource for current or prospective b-school students interested in international study are the Centers for International Business Education and Research (CIBERs), created by Congress in 1988.  To date, there are 33 CIBERs, located at universities around the country, including UNC Kenan-Flager, University of Texas McCombs, and George Washington University.

It’s all there for the asking – so make sure your passport is up-to-date and push yourself out of your comfort zone.


September 7, 2011

More MBA Schools Accept the GRE & GMAT

Hot off the press,  Kellogg's full-time MBA program now accepts the GRE.  As does Cornell's Johnson School.  Here's the updated list as of September 7, 2011. It's always great to check; it wasn't on the Kellogg website until I emailed and -- voila! There's no harm in asking!

School GRE? Link
Columbia YES Columbia Business School
Cornell YES Cornell Johnson
Darden YES UVA Darden
HBS YES Harvard Business School
INSEAD YES INSEAD
Kellogg YES Kellogg MBA
Mich Ross YES University of Michigan Ross
MIT Sloan YES MIT Sloan
NYU Stern YES NYU Stern
Stanford YES Stanford GSB 
Tepper YES Carnegie Mellon Tepper
Texas YES Texas McCombs 
Tuck YES Dartmouth Tuck 
Wharton YES Wharton MBA
Yale YES Yale School of Management 
Duke MAYBE Duke Fuqua 
Cambridge NO Cambridge Judge
Chicago NO Chicago Booth 
Haas NO UC Berkeley Haas
LBS NO London Business School
Oxford NO Oxford Said
UCLA NO UCLA Anderson 

If you are looking for more schools the ETS link has a full list of MBA programs which accept the GRE.

March 17, 2011

Business Schools that Accept the GRE or GMAT

More and more business schools are accepting the GRE in lieu of the GMAT these days. In response to a query I received from the academic adviser to students at one of the world's top undergraduate schools, I thought I would put together a handy table for you to identify which schools accept either the GRE or GMAT. Below you can see that many do, but not all.

SCHOOL

GRE?

LINK

Columbia YES Columbia Business School
Darden YES UVA Darden
Fuqua YES Duke Fuqua
HBS YES Harvard Business School
INSEAD YES INSEAD
Mich Ross YES University of Michigan Ross School
MIT YES MIT Sloan
NYU YES NYU Stern
Tuck YES Dartmouth Tuck
Stanford YES Stanford GSB
Wharton YES Wharton MBA
Yale YES Yale School of Management
Chicago NO Chicago Booth
Cornell NO Cornell Johnson
Haas NO UC Berkeley Haas
Kellogg NO Kellogg
UCLA NO UCLA Anderson

If you have any questions about updates to this information, please email me at betsy@masteradmissions.com

A few notes: Cornell does not indicate it accepts the GRE, but they haven't said they *don't* accept it, as Haas and Chicago Booth have. UCLA Anderson's MBA program doesn't accept it, but their Executive Program does.

Further, things do change! so please check the links and make sure the information you have is current.

Meanwhile, if you need any advice on studying for standardized tests, please see last week's blog post on test anxiety and your brain.

October 18, 2010

Diana Prince, Peter Parker, Clark Kent and You

It’s been a few weeks since I have posted, and for that I apologize; the mad rush of applications for the first round of business school deadlines got the best of me. I’ve tried to encourage my applicants to start early (as I have recommended time and time again, for example, in this blog post , but that doesn’t necessarily mean that the applicant will end early. There’s nothing I can say to those who have already submitted except, good luck! I will cross my fingers and pray to the heavens for all of you.

So this part is for those who are going to apply in Round 2 or Round 3. (And yes, I do know several people at the very best schools who have been admitted in Round 3. I just learned of a case of someone who was admitted in Harvard Business School’s Round 3 for the following year, so there’s always a possibility).

NO Cookie Cutters
Still, I always learn something from going through an admissions cycle. This year I still found people having difficulty answering the question . Perhaps it is because of the tendency to cut and paste, students are still not reading the prompts in the questions to get it right. Other students tend to understate their small, but unique accomplishments. Most people are worried because they haven’t started their own company or won a Nobel Prize, but that’s not the problem.

One balmy Palo Alto September evening, a first-year student at the Stanford Graduate School of Business and I were trying to figure out the “secret sauce.” Indeed, in a class of 390 out of over 7000 applicants, how did they gather such a unique and interesting bunch? Her answer: “no cookie cutters.” And she may be right. Most of the people walking around that unique campus broke some kind of mold.

In some ways, the fix is in – if you are wildly atypical, and you have great grades and scores, then you will get a second look (and the rest is up to you to execute). But not everyone looks wildly unique. Kellogg even prompts the student to go into that unusual side. One of that school’s optional questions begins…. “People may be surprised to learn that I…..” I believe the spirit of that question is to get behind that Clark Kent, Peter Parker or Diana Prince.

The Question behind the Question
Some applications don’t ask the question so explicitly, for example, University of Chicago now allows you to literally fill in the blank. (Note, I like the explanation, “Knowing that there is not a right or even a preferred answer allows you to demonstrate to the committee your ability to navigate ambiguity and provide information that you believe will support your candidacy for Chicago Booth.”) NYU also offers the chance to show your suprising side, for example, their well-known personal expression essay.

All of these prompts are there so that you can answer that question behind the question, “What Makes You Special?” So, as you get ready to start drafting your answers – get a little crazy. You can always dial it back. I’ve always said that you want to get in touch with your Inner Rock Star.

Now’s your chance.

September 13, 2010

Bay Area Admissions Events - Updated!

Now that it's September, the MBA admissions visits are in full swing. I've updated the list to include some additional schools, and expanded the list to include Peninsula events. The list is still a work-in-progress, and I hope to keep updating it.  Please note also that I added an Essay Workshop that I will be leading on Sept. 22 in San Francisco.

I hope to see you at some of these gatherings -- they should be fun and helpful as you make your choices.  Meanwhile, if you have any questions about business school, applications, or what to do next, please email, and let's talk about it!
Date
Business School
Time
Location
Registration & Info
Starting 8/30/2010
UC Berkeley Haas (Full-Time)
1:00 pm -
2:00 pm (daily)
UC Berkeley                   Haas, Room C250
9/8/10
UC Berkeley Haas (Part-Time)
6:30 PM
Hyatt Regency Santa Clara
5101 Great American Pkwy
9/13/10
Tuck
7:00 PM
Stanford Court Renaissance, 905 California, SF
9/13/10
Kellogg
7:00 PM
Marriott Santa Clara, 2700 Mission College Blvd
9/15/10
Kellogg
7:00 PM
PG&E, 245 Market St, SF
9/16/10
UC Berkeley Haas Part-Time
6:00 PM
Grand Hyatt San Francisco, 345 Stockton St.
9/20/10
Stanford GSB
6:00 PM
Bishop Auditorium
GSB Campus
518 Memorial Drive, Stanford
9/22/10               
Master Admissions' Essay-writing workshop
6:30 PM
Citizen Space, 425 2nd Ave., SF
9/23/10
Chicago Booth
7:00 PM
PG&E, 245 Market St, SF
9/29/10
Yale
6:00 PM
Wells Fargo Bldg. 420 Montgomery St., SF
9/29/10
Haas Part-Time
6:30 PM
Hyatt Regency SF Airport, 1333 Bayshore Hwy, Burlingame
10/6/10
MIT Sloan
6:30 PM
JW Marriott, 500 Post St. SF
10/7/10
MIT Sloan
6:30 PM
Sheraton Palo Alto Hotel, 625 El Camino Real
10/12/10
NYU Stern
7:00 PM
TBD
10/14/10
Mich. Ross
TBD
TBD
10/25/10
UVA Darden
TBD
TBD
11/10/10
UC Berkeley Haas (Full-Time)
6:30 PM
Wells Fargo Bldg. 420 Montgomery St., SF
Ongoing Mondays & Fridays
Stanford (on campus in Palo Alto)
11:45 am - 1:00 pm
GSB South Building, Room S151
*Dates TBD
Stanford GSB in SF, NYU Stern in Palo Alto

Group events:

9/12/2010: QS World tour note -- LBS' only scheduled SF visit
9/14/2010: Forte Forum -- note: INSEAD only scheduled SF visit
9/26/2010: MBA Tour -- note: see UCLA here or the Forte Forum

July 27, 2010

Upcoming Bay Area MBA Admissions Events

This is that time of year where you have your pick of many events. .  It's not too early to start talking to MBA admissions officers, and to help you plan your events, I've posted below a list of receptions that are already on the calendar.  Below the list of individual school events, I've added below the group panels and fairs that might also be interesting. Please note that this list is not exhaustive, and I will be updating it.

I hope to see you at some of these gatherings -- they should be fun and helpful as you make your choices.  Meanwhile, if you have any questions about business school, applications, or what to do next, please call, and let's talk about it!

Betsy Massar
Master Admissions

8/10/10
Date
Business School
Time
Location
Registration & Info
7/28/10
Harvard
6:30 pm
Gap, 2 Folsom St., SF
8/4/10
Wharton
7:00 PM
Yahoo! 710 1st Ave, Bldg C, Sunnyvale
8/5/10
Duke Fuqua
7:00 PM
JW Marriott Union Square, SF
8/5/10
Mich.- Ross Women's event
6:30 PM
SF Marriott Marquis, 55 4th St, SF
8/10/10
Wharton
7:00 PM
Wharton West, 101 Howard St., SF
8/12/10
UC Berkeley Haas (Part-Time)
7:00 PM
UC Berkeley Haas, Room C230
8/18/10
Columbia
6:30 PM
TBD
Starting 8/30/2010
UC Berkeley Haas (Full-Time)
1:00 pm -
2:00 pm (daily)

UC Berkeley Haas, Room C250

9/13/10
Tuck
7:00 PM
Stanford Court Renaissance, 905 California, SF
9/23/10
Chicago Booth

7:00 PM

PG&E, 245 Market St, SF
9/29/10
Yale
6:00 PM
Wells Fargo Bldg. 420 Montgomery St., SF
10/6/10
MIT Sloan
TBD
TBD
10/14/10
Mich. Ross
TBD
TBD
10/25/10
UVA Darden
TBD
TBD
11/10/10
UC Berkeley Haas (Full-Time)
6:30 PM

Wells Fargo Bldg. 420 Montgomery St., SF

Ongoing Mondays & Fridays
Stanford (on campus in Palo Alto)
11:45 am - 1:00 pm
GSB South Building, Room S151
*Dates TBD
NYU Stern, Kellogg, Stanford (in SF)

Group events:

8/16/2010: Penn Club event with Harvard, Kellogg, MIT Sloan, Stanford, Wharton
9/12/2010: QS World tour note -- LBS' only scheduled SF visit (so far)
9/14/2010: Forte Forum -- note: INSEAD only scheduled SF visit
9/26/2010: MBA Tour -- note: UCLA only scheduled visit (so far)
If you have any questions about the lists above, please let me know,

Betsy Massar
Master Admissions

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