Last week was packed with MBA admissions-related news. It's time for a round up!
- This MBA Podcaster video includes valuable information on Stanford's MBA application and b-school experience, including an interview with Linda Abraham, Accepted’s founder and president, about the application process and Stanford's essays, as well as up close and personal tidbits from Stanford students themselves. An important focus is the entrepreneurial influence of the Silicon Valley.Stanford's round 2 deadline is January 6. Check out this video!
- Fins.com reporter Kyle Stock says that the interest in finance-related jobs is on the rise, contrary to what one might think considering the recession. One reason for this increase, suggests Stock, is that while the economy may be in shambles, the cost of business school remains exorbitantly high. There are still high paying finance jobs on the market—albeit fewer of them—and new MBAs continue to strive for them.
- BusinessWeek's recent article, "Crackdown on China GMAT Cheating," elaborates on recent measures the GMAC (Graduate Management Admission Council) is taking to catch GMAT-takers who have prepped using illegal test-prep material from Chinese websites. The websites, which offer a sneak peak at copyrighted GMAT questions, are being shut down. Furthermore, the GMAC is using proxy search gadgets to catch users of the sites and punishing users by revoking their test scores and banning them from taking the GMAT for five years. Other security measures at test sites aimed at potential cheaters, include heightened observation and palm vein reading.
- Another BusinessWeek report, "Business School: Experienced Applicants Only," explores the heated topic of pre-MBA work experience. The article suggests that the one-time expectation of 5+ years of work experience is leading many MBA applicants to switch to part-time program enrollment. Leaving the workforce after five years of work at the age of 28 or 30 is a lot more difficult in this economy than it was a few years ago. On the other hand, having at leaset some work experience before an MBA makes finding a job post-MBA easier.
- QS TopMBA's recent Salary and Recruitment Trends 2009 Report claims that the drop in North American MBA recruitment is "a blip" and numbers will bounce back up to normal in 2010. Its survey takes into account the opinions of popular recruiting companies like Bank of America, Dell, Goldman Sachs, and Procter & Gamble when determining that the job market for new MBAs will not be as bleak as it has been in the last year. Dan Beaudry, QS TopMBA Employer Relations Manager adds a note of further optimism: "The outlook for 2010 is better and we do not expect many more drastic cuts. If consumer demand picks up and confidence returns, employers might re-assess their plans upwards during the spring."
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