A little about Prof. Dipak Jain:

• Prof. Jain was born in Assam, India.
• He is 53 years old, making him one of the youngest business school deans on the international scene.
• While the vast majority of his teaching experience has been in the U.S., he has also taught in India and has been known to have a “vision of developments in Asia”—one of the qualities that appealed to the Insead board.
• He was dean of Northwestern Kellogg for eight years, until he stepped down in 2009.
• He is a prolific marketing scholar.
• He was responsible (according to Jain himself) for altering the Kellogg culture from being an individual-driven program, as it was when Don Jacobs (his predecessor) was dean, to an institution-driven program, “with multiple associate deans and devolved responsibilities.”
• Prof. Jain is “a thoroughbred academic,” in contrast to INSEAD’s current dean Frank Brown, who is more of a business professional. INSEAD, London Business School, and IMD, top international business schools, all hired non-academic deans in the recent past, and are all now—after deeming that strategy a mistake—replacing them with academic deans.

The appointment process should be completed in the next few weeks.

(Source: Financial Times, “Dipak Jain Tipped for Insead“)

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• Another recent Financial Times article, “Shift to international standards happening, but slowly,” reports on some of the challenges b-schools have been facing in the area of global business harmonization, particularly with regards to accounting. The rules of accounting have traditionally varied by jurisdiction, yet the EU has been attempting to include accounting in its international financial reporting standards (IFRS) since 2005. The U.S. Financial Accounting Standards Board, however, have confirmed that they will not meet the June 2011 deadline, creating educational limits for providers who are seeking to standardize and internationalize their accounting programs. Accounting professors must juggle both American and international standards until the two merge following what may be many more years of debate and planning. According to the FT article, soon, localized accountancy training will disappear with the “globalization of accounting practices and the eventual adoption of IFRS.”

• Big GMAT test prep books have gone the way of bulky dictionaries and encyclopedias—they’ve gone digital. Future MBA hopefuls will no longer need to tote oversized paper GMAT books, but will be able to download easily accessible GMAT apps for their smart phones, reports a Businessweek blog post. iPhone apps include Kaplan GMAT Flashcards, GMAT ToolKit, and the new GMAT Pill, a month-long study plan developed by GMAT high-scorer, Zeke Lee. The benefit of such programs—besides for the amount of space they’ll save in your bag—is that they implement more visual explanations through video tutorials. As Lee explains, “What’s special about these videos is they are really helping students change the way they think.” Android and BlackBerry users will also have GMAT options at their fingertips, for affordable, on-the-go GMAT prep.

• Rising college costs are a source of anxiety and anger for many students and their families. According to a recent Businessweek blog, tuition and fees for private nonprofit universities and colleges has increased by about 4.5%, about 0.2% greater an increase than last year. While these increases may wreck havoc on your bank account and retirement plans, it is interesting to note that these tuition hikes (last year’s and this year’s) are actually the two lowest increases since the 1972-1973 academic year. 4.5% may seem unmanageable, but it beats the pre-recession increase average of 6% per year. Another silver lining: Grant and scholarship programs received a 6.8% average increase this year.

Do you need help financing your future college or graduate school costs? Buy our featured ebook, Financing Your Future, by July 31, 2010 and receive 20% off when you use coupon code FUTURE20 at checkout.

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Internationalizing the MBA, a special report written by Accepted editor and international b-school expert, Tanis Kmetyk, will explore the pros and cons of joining the overseas MBA scene, helping you make your big decision—should you study for your MBA on home soil, or take the leap and head abroad to an international or American b-school in a foreign country?

Learn whether an international MBA is right for you by understanding the strengths and weaknesses of these different programs.

Download  Internationalizing the MBA.

By Linda Abraham, President and Founder of Accepted.com.

Several impressions and take-aways for applicants from the different events and sessions:

MIT Sloan Panels:

From the MIT panels it is clear that MIT is looking for demonstrated success academically and professionally.  The latter translates into success or professional progression that is better than the norm for your peers. In terms of those fuzzy attributes and personal characteristics that schools talk about, Sloan wants to see drive; an ability to build relationships and influence others;  and the establishment, pursuit and achievement of goals.  A few details about the individual programs:

1. 100% of the MFin grads have jobs this year, this program’s inaugural graduating class.
2. The EMBA is a program for those in mid-management with a demonstrated record of success who either want to advance in their career or make a slight career change without leaving their job.  Neither sponsorship nor the GMAT is required. (the latter may be requested if MIT has questions about the applicant’s quant skills.)
3. The LGO program focuses on managing the global production and distribution of goods and services. It is a joint, quant-heavy 24-month program between MIT Sloan and MIT’s School of Engineering. Participants earn both an MBA and an MS in Engineering.

We also heard two presentations by MIT Sloan professors. If you have any doubt that MIT Sloan is serious about innovation and global reach, abandon them. The creativity and global impact evident in just these two hours would force you to reshape your views.

Impressions from Conference Day 2 (Multiple presentations by various schools reps)

• Schools and admissions committee members look at different elements when they evaluate an application.  Pay attention to the nuances.
• Your informal and personally identifiable interactions with school admissions personnel are highly revealing. They COUNT! Arrogance at any point in time is a death knell for your application (and most relationships too.) Rudeness to a receptionist is a ding. What qualities impress positively? In your essays and interviews, reveal dignity, generosity of spirit, self-awareness, authenticity, and consideration of others. These qualities cannot be faked or “spun.”
• Regarding financial aid, merit aid tends to go to the top X% based on academic stats. Generally, when evaluating fellowship essays, the readers do not refer to your application essays. Poor credit can prevent you from obtaining the loans necessary for you to attend the school of your dreams if merit aid and your resources don’t cover the tab; get your credit in order before you apply.
• Regarding career development, the MBA employment picture improved throughout 2009-10. Read the employment reports for schools before you decide to apply and certainly before you decide to attend; you need to know school strengths as revealed in these reports. Understand the role of the career services staff (educating students about effective career planning and job search) and the limitations of that role. (They don’t create or find jobs for you.) Networking, which is about building relationships not the size of your contact list, is more important than ever. In order to build relationships, you must move beyond email.

Harvard Business School

At Harvard, we enjoyed an interactive two-hour presentation that was stimulating and engaging. To the extent it reflected the dynamism of the Harvard educational experience, I was extremely impressed.

This visit clarified for me that Harvard’s unparalleled brand is not just a matter of US News Rankings or smoke-and-mirrors branding.  At the same time, HBS is not for everyone, but like any top graduate program, it can be a fantastic experience for the right individuals.

Before the conference started my husband and I met with an acquaintance who is a professor at HBS. The professor was curious about my work, and I was curious about his. He asked me what I believe distinguishes Harvard students from the rest of the applicant pool. I thought for a moment and replied, “Leadership and impact.” He smiled, and the conversation moved on. Just before leaving, I asked him, “From your perspective as an HBS professor, what is a common quality shared by HBS students?” He replied, “I smiled when you answered my question because the students come from incredibly diverse backgrounds. However, if I have to identify a common thread, it would be leadership and impact.” If you are serious about attending Harvard Business School, make sure you demonstrate leadership and impact.

Reflections and Thank yous

It is our job as admissions consultants to help you choose the best target programs and show that you  belong at your chosen schools. The candor and graciousness shown by the hosting schools as well as by the presenting admissions directors will help Accepted’s staff do exactly that.

I am proud to report that Accepted’s staff was well represented at  the conference. In addition to myself, Jennifer Bloom, Paul Bodine, Judy Gruen, Tanis Kmetyk, Cindy Tokumitsu, and Robbie Walker attended.

Profound thanks to the hosts and presenters as well as to AIGAC, led by Graham Richmond of Clear Admit, and specifically to Maxx Duffy of Maxx Associates and Anna Ivey of Ivey Consulting who co-chaired the event. Thanks also to the sponsors: Veritas Prep, Clear Admit, Hult International Business School, Manhattan GMAT, MBA Podcaster, and Zoom Interviews

Learn More: Best MBA Programs: A Guide to Choosing the One for You.

By Linda Abraham, President and Founder of Accepted.com.

Here are some excerpts from an interview with a recent graduate of INSEAD with a General Management background, who launched a company with a fellow student he met at school.
INSEAD’s programme lasts only ten months. How does one plan to get the most out of it?
You must have a plan and razor sharp focus. The short timeframe makes the INSEAD programme incredibly intense. It is easy to get seduced by the 24-hour cycle, the fun, the fact that you are always busy. But those with no plan end up with nothing. This is where leadership really comes in. You must have a strategy. If you’re fine with being a plodder, that’s OK, but be clear about it. If you want to find your plan at INSEAD, that’s OK too, but start refining it immediately because you are being thrown into a giant vortex of chaos and you don’t want to spend 6 months stressed. There are those who love that, and they come for the networking and the intensity, but these are usually the guys who have made and sold a few companies already. Of course there’s an element of luck, but the days of graduating with a handful of offers for high paying jobs in London are gone.

How close did you stick to the goals you stated on your application?
100%.

You were focused on entrepreneurship.  Was INSEAD a good match?
Yes absolutely. I targeted the school because it is super-entrepreneurial. I arrived knowing that I wanted to start a business. The person who is now my business partner and I came there for the same reasons.

How did you make the school work for you?
My business partner and I met at the very beginning, in class. We clicked immediately over a shared idea. Then we used the year to refine the idea and launch the company. We tailored the curriculum to fill in the missing gaps in our knowledge, and develop our business plan, our strategy and our marketing. We interviewed professionals to learn about the industry we wanted to target. And we were lucky enough to win the Business Venture competition, and some funding.
The alumni network has been incredibly important, too. As a new company, we have to do things on a tight budget. The alumni network has helped us with all that stuff you have to do when you build a company. We have been able to reach out and get feedback, connections, advice and help. Using the network to open doors has been incredible.

Did the location affect your experience?
The main campus, in Fontainebleau, is in the middle of nowhere, and it is gorgeous. This makes student life very intense. “What happens in Fonty stays in Fonty.” At the same time, it is close to Paris and, being a city person myself, it was nice to be able to get into Paris easily. Singapore is also fascinating, but when I went over in January, 250 of the 300 students of my class went (versus only 150 of the August group.) Imagine moving to Asia with 250 of your best friends! This makes things surreal but really great. The country is fascinating. It was valuable and enriching to get insight into the psychology and sociology of the Asian market. The alumni in Sing were very active in receiving us. The school connected us with people from the business world, which gave us students a chance to grill them and learn from their “scars” to get the real story. The school is very good at doing this.

What did you find out that the school offers that you couldn’t find out from the website or an information session? When I got to Fonty, I already had a business degree and had worked for several years, so the curriculum looked like a lot of the stuff I had already done and/or studied. But when world-class professors teach material you already know, it takes on whole new meaning. It’s a hard thing to quantify, but hearing someone turn something you “know” upside down, and leaving the classroom with all of your neurons firing, thinking about things a new way and discussing them into the night…. you expect that to happen at a top school, but it was so much better than I had imagined.

What kind of leadership training or mentoring did you receive at INSEAD?
Of course you get a lot of technical training at b-school, but at the end of the day leadership is not just mastery of technical aspects, is it? There were some great electives in this vein. Strong professors teach to multiple layers of experience. If you come in already knowing a subject, at INSEAD you will be able to pick up other things. For example, instead of teaching me about financial modeling, which I already knew, the professor was able to teach me all about creating value from the very same material. Learning about leadership is something that comes through in the individual experiences of the professors rather than through the curriculum. Their experience is our teacher. And deep insight is what distinguishes the good from the great.
Of course, this mentoring is still ongoing, as I am in regular touch with the alumni network.

Did you tap career services?
I was lucky. I came into the programme knowing that I wanted to start a business, so I did not need Career Services as much as some others. But I used CS in other ways, like to find other entrepreneurs in the INSEAD network, and they were incredibly helpful.

What was your best day on campus?
Oh that is a tough question….from the very first day, it all becomes a big, beautiful blur. The professors warn you, “This is going to be a marathon. Save some energy,” but the truth is that you are 100% full power for the entire 10 months. There were many, many great moments.

How about a favorite class or event?
The one-week elective trip to San Francisco. We again met people from the business world and INSEAD alumni, who were all great.

What were the main challenges?
The short timeframe. Even though that was one of the main things that attracted me to the school, I could easily have spent more time there. Because of this, you must be ready to pounce at all times.

Last words of advice?
Make sure that the school is the right match for you. I have a friend who came to INSEAD because he wanted to work for McKinsey. He was clear and committed. They saw that and he was rewarded.
The school will not create an epiphany for you. Create your own opportunities and stick to your strategy.

By Paris-based Accepted.com editor Tanis Kmetyk, who has well over a decade of experience advising applicants to INSEAD and other top MBA programs. She’d be happy to share her expertise with you when you apply too.

Additional Resources

• INSEAD Bschool Zone.
• “Navigate the MBA Maze,” an ecourse.
• “Best Practices for MBA Admissions,” a recorded webinar.

• As social media penetrates the business world, business schools have no choice but to jump on the bandwagon and make sure that their students are well equipped with social media knowledge, reports the New York Times article, “Business Schools Respond to Demand for Use of Social Media.” Top b-schools, including Harvard Business School, INSEAD, and London Business School, are now incorporating social media material into their MBA curriculums. Anthony Salcito, VP of worldwide education at Microsoft, explains that as businesses adopt and adapt to the commercial value of social media networks, universities need to keep their students up to speed on the profitable potential of internet marketing.

Related Accepted.com MBA Resources:

• B-School Zones
• Navigating the MBA Maze, an ecourse.
• Submit a Stellar Application: 42 Terrific Tips, an instantly downloadable ebook.
• MBA BlastOff: 45 Terrific Tips to Launch Your MBA Application, an instantly downloadable ebook.

Want our news sent directly to your inbox? Subscribe to the Accepted Admissions Almanac by clicking here!

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At top business schools around Europe recruiting rates are up, and more and more MBA grads are landing jobs faster than graduates from the same programs last year. For example, job offers for INSEAD’s December 2009 class increased 7% compared to the offers for the July 2009 class.

A few reasons account for such improvements, explains Ellen Groves, author of the BW article.

First, the economy is finally picking up, even though improvements may still be hard to see. The financial industry in particular has experienced a pick-up, and so banking and consulting firms are offering more summer internship opportunities this year, as compared to last. The healthcare and pharmaceutical sector is also picking up, increasing recruitment, and increasing sign-on bonuses. Popular fields within that sector include biotech, public administration, renewable energy, and nonprofits.

Second, MBA students and MBA graduates have been forced to become more flexible in their career paths and to undergo more challenging interview processes. Those willing to take on these challenges will receive more job offers.

Third, career services departments at these top European b-schools are working extremely hard to get their students jobs. They’re maintaining relationships with companies that were once recruiting at their school but are no longer (which will pay off once these companies resume recruitment), and are building relationships with new companies.

Fourth, students are opting for longer MBA programs, to increase their job prospects later on.

While the economy may be picking up, the job market is still extremely hard to penetrate—no one is denying that. But, as Diane Morgan, Director of Career Services at London Business School says, “We’re very cautious but it just makes you work harder. Overall it’s been really promising. Companies still want good people.”

The good news is that this article is not a lone opinion on the subject. See below for more articles on the increase of MBA job opportunities.

Related Accepted.com blog posts:

• Good News for MBAs: Job Opportunities Abound!
• B-School Students See Light at the End of the Job Market Tunnel
• Passionate Optimism: It’s Nice, but Will it Land You a Job?
• GMAC: MBA Employers Express Job Market Optimism
• The Make-Your-Own-Job Solution



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While only 6.9% of test reports were sent to Europe five years ago, last year saw a new high of 10%, sent in highest volume to France and the United Kingdom. Most of these applicants are European themselves, who are showing an increased interest in business school in general and business school on their home turf in particular. The U.S. saw fewer European applicants this year than in the past.

Popular European MBA programs among European GMAT test takers in 2009 include INSEAD, London Business School, and IESE Business School. For more information on these and other top European and U.S. b-schools, check out Accepted.com’s B-School Zones.

Additional Resource: Navigating the MBA Maze, a free ecourse

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The MBA debate has been going on for years: Bill Gates and Steve Jobs didn’t even finish college; so is an MBA really necessary? Additionally, MBA “naysayers,” as the BW article calls them, claim that MBA programs are guilty of injecting students with “greed and short-term thinking” that won’t get them very far in the business world.

On the other hand, in the Harvard Business Review’s analysis of the top-performing CEOs in the world, more than two-thirds of the 1,109 CEOs that were reviewed from four different countries (France, German, the UK, held MBAs.

Other points of interest:

• CEOs with an MBA ranked about 40 places higher in the rankings than those without MBAs.
• CEOs with an MBA had average shareholder return of 93%, as compared to 81% total returns of non-MBA holders.

So now for the why: Why do CEOs with MBA excel more than their non-MBA partners? What is responsible for causing the MBA advantage? What is, as the BW article puts it, the “magic ingredient” the puts MBA-holding CEO a cut above the rest?

CEO success can be attributed to a few factors: knowledge acquired through the MBA curriculum, skills gained from the program, the caliber of job obtained due to holding an MBA “badge of excellence,” the network that most MBAs graduate with, the motivation to reach higher heights that MBA grads are more likely to strive for, and the global perspective that becomes second nature to MBA graduates who have studied abroad.

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