Maryellen Reilly Lamb, senior associate director of MBA career management of Wharton, explains, “Two years ago, I couldn’t get a bank to take our calls, last year they were taking them and this year, they’re calling us. That speaks a lot to the cautious optimism of Wall Street at the moment.”

In 2008, about 59% of companies in all industries hired MBAs. In 2009 that number dropped to 50%, and this year, that number is likely to bounce back up to 55%.

Also trending back up are signing deals and salaries, which increased 3.2% this year to $89,200.

More recent statistics:

• Wharton saw a 20% increase this year over last in the number of students offered summer banking internships.
• NYU Stern hosted 10% more recruiting events this fall for full-time and summer banking positions.
• Columbia Business School recorded a 45% increase in full-time job postings.
• Harvard Business School, which as of last week had not published their totals, expects “a flurry of offer letters for MBA candidates approaching graduation.”
• JPMorgan and Credit Suisse plan to visit more schools and increase their hiring this year. Credit Suisse has already hired about 10% more people than it did last year.

How have the hiring changes affected MBA students and graduates? For one, explains the Fins article, candidates are showing more devotion to their chosen industry; fewer students are undecided in their career paths by the time they graduate. They are also not taking for granted what few job opportunities come their way.

To review the entire dicussion, please read the full transcript or download the MP3.

Here is an excerpt from the Q&A that we found particularly illuminating:

Linda Abraham: The next question is, “How important is it that I rank my schools on the Consortium application?”

Karen Marks DARTMOUTH: It makes no difference; it’s not a factor in admissions decisions. It comes into play during the fellowship component, but in terms of your admissions decision, it doesn’t play in at all.

Jon Fuller MICHIGAN: When the Admissions Committee gets an application, the rank list is electronically blacked out, and that is not actually released until we’ve already made our admissions decisions. That is just our own internal process for that. So just as it was mentioned, the ranking plays no factor in admissions decision or in membership; it really only comes up from a fellowship perspective.

Shana Basnight EMORY: I would just advise that you do your due diligence before you lock in your ratings because once you do, they are set in stone and you can’t change them. So whether you get a chance to visit different campuses or talk to different alums that have attended different schools, do as much research as you can before you completely drop the Consortium application and put in your rankings because you only have one chance to do them.

Jon Fuller MICHIGAN: I think candidates spend some time thinking about whether there is a way to increase the likelihood of them getting a fellowship by how they rank a school, and there is  a lot of agony that goes into that. The advice I give to candidates is that if Ross is your first choice, then you should rank us first. If another school is your first choice and we’re your second choice, then you should put us second and you should put that other school first. Because just as it was mentioned, it’s an individual decision based on the school; it just goes down the rank order of the process that is explained relatively well through the

Consortium documentation that is available on their website. But don’t try to over-think because it just doesn’t work. So rank the order in terms of your enthusiasm of how much you want to attend that particular program.

Rebecca Dockery CONSORTIUM: I’m going to give you an Amen!

Jon Fuller MICHIGAN: Thank you!

Kellee Scott USC: Just to add a little more relief hopefully to this effort with the rankings, the process is that you are only allowed to hold one fellowship that you can call Consortium, but that doesn’t stop other schools from offering you school based scholarships if you qualify for them. So the rankings may say that you are only allowed to get one scholarship that is called Consortium, but if school #3 and #4 really want you, that doesn’t stop them from offering you aid outside of the Consortium scholarship, or offering you any kind of merit based money outside of the Consortium scholarship. So you are not limited in this process; the rankings do not limit you in any way.

View the full Q&A transcript or listen to the mp3 recording of the event now!

Accepted.com ~ Helping You Write Your Best

Top 30 U.S. Business Schools of 2010 (2008 rankings are parenthetical.)

1. Chicago Booth (1)
2. Harvard Business School (2)
3. Wharton (4)
4. Northwestern Kellogg (3)
5. Stanford GSB (6)
6. Duke Fuqua (8)
7. Michigan Ross (5)
8. UC Berkeley Haas (10)
9. Columbia (7)
10. MIT Sloan (9)
11. UVA Darden (16)
12. Southern Methodist Cox (18)
13. Cornell Johnson (11)
14. Dartmouth Tuck (12)
15. CMU Tepper (19)
16. UNC Kenan-Flagler (17)
17. UCLA Anderson (14)
18. NYU Stern (13)
19. Indiana Kelley (15)
20. Michigan State Broad (2T)
21. Yale SOM (24)
22. Emory Goizueta (23)
23. Georgia Tech (29)
24. Notre Dame Mendoza (20)
25. Texas-Austin McCombs (21)
26. USC Marshall (25)
27. Brigham Young Marriott (22)
28. Minnesota Carlson (2T)
29. Rice Jones (NR)
30. Texas A&M Mays (NR)

Top International Business Schools

1. INSEAD (3)
2. Queen’s (1)
3. IE Business School (2)
4. ESADE (6)
5. London Business School (5)
6. Western Ontario Ivey (4)
7. IMD (7)
8. Toronto Rotman (8)
9. York Schulich (2T)
10. Cambridge Judge (2T)
11. McGill Desautels (2T)
12. IESE (9)
13. Cranfield (NR)
14. HEC Paris (2T)
15. HEC Montreal (HR)
16. Oxford Said (10)
17. Manchester (2T)
18. SDA Bocconi (NR)

BW bases its rankings on employer and student surveys, as well as what they call “intellectual capital,” or school research output. For more information on how the rankings are determined, read BW‘s “How We Rank Business Schools.”

Other articles in the report that may interest you include:

• “The Best U.S. Business Schools 2010” – This article highlights ways that business schools are dealing with the sour job market—putting a new emphasis on job placement, reaching out to alumni for job leads, using technology to connect with recruiters, and bolstering career services departments.
• “Top Global Business Schools” – Read about how the Great Recession has affected the international MBA scene, why new schools have popped up on the top 10, why students are being drawn to emerging markets, and more.

Related Accepted.com Resources:

• The Rankings, a free special report on how you should interpret the rankings in your own b-school quest.
• Internationalizing the MBA, a free special report that will help you determine whether an international MBA program is right for you.

Accepted.com ~ Helping You Write Your Best

Let’s start with the actual rankings.

Top 15 International EMBA Programs

1.   Kellogg / Hong Kong UST Business School – China

2.   Columbia / London Business School – USA / UK

3.   Trium HEC Paris / LSE / NYU Stern – France / UK / USA

4.   INSEAD – France / Singapore / UAE

5.   University of Chicago, Booth – USA / UK / Singapore

6.   London Business School – UK

7.   IE Business School – Spain

8.   University of Pennsylvania, Wharton – USA

9.   Duke University, Fuqua – USA

10.  Chinese University of Hong Kong – China

10.  City University Cass – UK

12.  IMD – Switzerland

13.  UC Berkeley Haas / Columbia – USA

14.  Kellogg / WHU-Otto Belsheim School – Germany

15.  Columbia Business School – USA

15.  ESCP Europe – France / UK / Germany / Spain / Italy

You can tell simply by looking above where the EMBA “hot spots” are—the USA, UK, China, Singapore, Paris, France, and Spain—or you can take a look at the FT‘s interactive map: Hot spots: the most popular cities in the world for Executive MBAs.

For an analysis on how the rankings were determined, check out “The ranking decoded.”

For an explanation on the challenges business schools face with this executive degree, see the lead article in the report, “Business schools face EMBA challenge.” (Just to give you clue—it has something to do with the economy and companies becoming less than willing to shell out $100,000+ in sponsorship funds. Surprise, surprise.)

Yet challenges aside, many EMBA programs (especially those in countries that have been, until recently, underserved by business schools) are seeing an increase in enrollment. For more on EMBA success, read “Rising demand: executive MBA sector shows healthy growth.”

Accepted.com ~ Helping You Write Your Best

Top 10 Schools for Consulting:

1. Northwestern Kellogg
2. Harvard Business School
3. Chicago Booth
4. Wharton
5. Michigan Ross
6. Columbia
7. Duke Fuqua
8. MIT Sloan
9. Stanford
10. NYU Stern

Top 3 B-Schools for Consulting in New York

1. HBS
2. Columbia
3. NYU Stern

Top 3 B-Schools for Consulting in Boston

1. HBS
2. MIT Sloan
3. Dartmouth Tuck

Top 3 B-Schools for Consulting in Washington, D.C.

1. UVA Darden
2. Wharton
3. Northwestern Kellogg

Top 3 B-Schools for Consulting in Atlanta

1. Emory Goizueta
2. HBS
3. Duke Fuqua

Top 3 B-Schools for Consulting in Silicon Valley

1. UC Berkeley Haas
2. MIT Sloan
3. Michigan Ross

Note the role of geography in determining top schools in specific regions. Something to keep in mind if you know where you want to live.

Related Accepted.com Resources:

• The Rankings: An Accepted.com Special Report
• The Consultant’s Guide to MBA Admission, an instantly downloadable ebook



Accepted.com ~ Helping You Write Your Best

Top 10 Schools for Consulting:

1. Northwestern Kellogg
2. Harvard Business School
3. Chicago Booth
4. Wharton
5. Michigan Ross
6. Columbia
7. Duke Fuqua
8. MIT Sloan
9. Stanford
10. NYU Stern

Top 3 B-Schools for Consulting in New York

1. HBS
2. Columbia
3. NYU Stern

Top 3 B-Schools for Consulting in Boston

1. HBS
2. MIT Sloan
3. Dartmouth Tuck

Top 3 B-Schools for Consulting in Washington, D.C.

1. UVA Darden
2. Wharton
3. Northwestern Kellogg

Top 3 B-Schools for Consulting in Atlanta

1. Emory Goizueta
2. HBS
3. Duke Fuqua

Top 3 B-Schools for Consulting in Silicon Valley

1. UC Berkeley Haas
2. MIT Sloan
3. Michigan Ross

Note the role of geography in determining top schools in specific regions. Something to keep in mind if you know where you want to live.

Related Accepted.com Resources:

• The Rankings: An Accepted.com Special Report
• The Consultant’s Guide to MBA Admission, an instantly downloadable ebook



Accepted.com ~ Helping You Write Your Best

This NYU Stern 2011 MBA Application tip post is one of a series of posts providing MBA application and essay advice for applicants to top MBA programs around the world. You can access the entire series at http://blog.accepted.com/acceptedcom_blog/tag/2011-mba-application-tips. My tips for answering Stern’s essay questions are in blue below. Stern’s tips are italicized.

Please note the following details when completing the Essays section of the 2010-11 online application.

The following essay questions give you the opportunity to more fully present yourself to the Admissions Committee and to provide insight into your experiences, goals and thought processes. Your essays should be written entirely by you. An offer of admission will be revoked if you did not write your essays. Please note the following:

• Essays 1, 2 and 4 must be typed and submitted using the standard U.S. 8 1/2” x 11” format, double-spaced, in 12-point font

• Please adhere to the essay word limits provided for each question

• Word limits apply to the total question. For example, your response to Essay 1 should answer part (a), part (b) and part (c) with a total maximum of 750 words

• Label the top of each essay with the following: Name, Date of Birth (month, day, year), Essay Number and Page Number (e.g.: Joe Applicant, January 1, 1983, Essay 1, Page 1)

Essay 1. Professional Aspirations

(750 word maximum, double-spaced, 12-point font)
Think about the decisions you have made in your life. Answer the following:

(a) What choices have you made that led you to your current position?

(b) Why pursue an MBA at this point in your life?

(c) What is your career goal upon graduation from NYU Stern? What is your long-term career goal?

Stern wants to know about your career decisions in the past, your reasons for an MBA now, and your plans for the future. A classic goals question, this question asks you to show the logic behind your career development and how an MBA at this point in time will help you achieve your short and long-term goals.

The part of the question asking about your “career goal upon graduation” is a critical one. Are you realistic about where your past experience plus a Stern MBA can take you? Stern doesn’t want people in la-la-land who will be impossible to place.

Finally make sure you answer all elements of the question within the word limits (not guidelines). No adcom member sits there and counts words, but the readers can tell when you are significantly over. “Significantly” in my book is more than 10%. Write succinctly.

Admissions Tips:

• Listen to our podcast: Essays.
• Proofread your essays carefully.
• Make sure you have fully answered the essay questions.
• Be genuine in your essays – tell us about the real you.
• Follow the essay instructions, including word limits and font size.

Essay 2. Your Stern Experience

(500 word maximum, double-spaced, 12-point font)

We take great care to shape the Stern community with individuals who possess both intellectual and interpersonal strengths. We seek individuals who are highly intelligent, collaborative, and committed to flourishing as Stern leaders. Please answer the following questions:

(a) What is your personal experience with the Stern community? Tell us what actions you have taken to learn about us.

(b) Describe what most excites you about Stern from both an academic and extracurricular perspective.

(c) How do you anticipate making your mark on the Stern community? Be specific about the roles you will take on and the impact you hope to achieve.

Have you attended MBA fairs? Stern receptions? Have you visited the Stern campus, corresponded with or talked to students and recent alumni? Reviewed Stern’s web site and printed material? Talked to possible employers? Read blogs of current NYU students? If you take any of those steps, let Stern know what you have done.

For parts b and c, based on your research, what do you find most attractive? What would motivate you to attend Stern if you have multiple acceptances? And again based on your research and your past commitments, how do you intend to contribute to the rich communal life at Stern? Stern has many avenues for involvement: experiential  learning opportunities, clubs, events, community service. What’s your niche? Show that you have done your homework about Stern.

Admissions Tip:

To see if Stern is a fit for you, come visit us in New York City or at one of our events around the world.

Essay 3. Personal Expression

Please describe yourself to your MBA classmates. You may use almost any method to convey your message (e.g. words, illustrations). Feel free to be creative.

If you will submit Essay 3 via mail or by providing an online link, please provide a brief description of your submission and its relevance to your MBA application.

Please note the following guidelines and restrictions:

If you submit a written essay, it should be 500 words maximum, double-spaced, 12-point font.

If you have a multimedia submission, you may:

• Mail a CD, DVD or USB flash drive.
• Include an online link in your submission description.

The Admissions Committee reserves the right to request an alternate Essay 3 if we are unable to view your submission.

Do not submit anything perishable (e.g. food).

Mailed materials must be postmarked by the deadline date. To submit Essay 3 by mail, please follow the mail and labeling instructions.

Please note that mailed Essay 3 packages are subject to size restrictions. Essays that exceed the stated size restrictions will not be accepted for review by the Admissions Committee. Please see the table below for the maximum package size guidelines:

Bribes don’t work either. Candidates can get very creative with this essay and use different media (other than culinary), but many, if not most, of you will convey your ideas in words. Think of how you describe yourself in a social setting, meeting people for the first time. If it’s the first day of class or a mixer early in the pre-term, how would you break the ice? Would you try to set up a tennis game or golf match? Would you find someone to explore NYC’s museums? Or do you hate museums and prefer the outdoors? What would you say if you were in the campus coffee shop and sat down with some new classmates? Could you create a dialog? A short skit?

The one signficant change to NYU Stern’s application is the permitting of multimedia in response to this question. While the medium may vary, the point again is to introduce yourself to friends. Given the other questions, this can be a great venue for hobbies, extra-curricular interests, and community service.

If you are considering video, download Audio/Video in Admissions: Get Ready for Prime Time, a free special report by Accepted’s Michelle Stockman.

Admissions Tip:

• Listen to Isser Gallogly, Executive Director of MBA Admissions, discuss Essay 3 on Public Radio’s “Marketplace”. (Please note that we have updated Essay 3 size restrictions and multimedia submissions including CDs, DVDs, USB flash drives and online links are now accepted.)

Essay 4. Additional Information (optional)

Please provide any additional information that you would like to bring to the attention of the Admissions Committee. This may include current or past gaps in employment, further explanation of your undergraduate record or self-reported academic transcript(s), plans to retake the GMAT, GRE and/or TOEFL or any other relevant information.

If you are unable to submit a recommendation from your current supervisor, you must explain your reason in Essay 4.

If you are a re-applicant from last year, please explain how your candidacy has improved since your last application.

If you are applying to a dual degree program, please explain your decision to pursue a dual degree.

Obviously if you fit into one of the categories described in the 3 points above, you need to write this essay. If you don’t fit into the above categories and have something you want the admissions committee to know that isn’t part of the required essays, then you still should write this optional essay.

Uploading Formats
You may upload documents into the online application in the following formats: word, excel, PDF, .txt, .rft and .wpd.

Application Deadlines for the Full-time MBA program:

*You will receive one of three initial notifications: invitation to interview, waitlist offer or denial of admission.

International applicants:

You are encouraged to apply by the November 15 deadline to facilitate visa arrangements and to have priority consideration for off-site interviews, if desired. You may also apply for the January 15 and March 15 deadlines.

Incomplete Applications:
If your application is not complete (for example, missing test scores, illegible scanned transcript, no essays or other items) you will be informed via email. If you do not provide a completed application by the deadline, we cannot guarantee notification by the initial notification date.

If you would like help with your NYU Stern MBA application, please consider Accepted.com’s MBA essay editing and MBA admissions consulting or an NYU Stern School Package.

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.

Robert Dammon, CMU Tepper associate dean and professor, explains the price-wage connection: “The kinds of students that the best schools attract are going to get the highest-paying jobs.”

Paul R. Dorf, managing director of the consulting firm, Compensation Resources, adds, “The cream-of-the-crop companies hire the cream-of-the-crop grads.”

Top-ranked b-schools generally offer the most expensive programs and generally churn out the highest paid graduates. Harvard Business School, for example, has the most expensive MBA program, and the best paid alumni.

PayScale, a salary-comparison company, recently evaluated salary data of 23,000 MBA graduates from Bloomberg Businessweek‘s top 45 American business schools.

Their data shows that on average, MBAs from top programs make $2.5 million (base-pay plus bonuses) over the course of 20 years in a single industry. HBS alumni make closer to $4 million, while alumni from lower ranked programs (but still in the top 45) like Iowa Tippie, make less than half of that.

Another interesting comparison between the higher ranked and lower ranked programs was the growth of salary over the two-decade period. Graduates from Yale SOM, for example, were awarded with extremely high starting salaries, but then experienced only small increases over the following 20 years. Grads from University of Connecticut’s business school, on the other hand, received lower starting salaries that more than doubled over that same 20-year period.

Below are the top median salaries earned after less than 2 years out of b-school and then the estimated career total for a 20-year long career:

Related Accepted.com Resources:

• B-School Zones
• The Rankings: An Accepted.com Special Report
• Forbes ROI MBA Rankings for 2010
• BusinessWeek’s Top 10 Undergraduate Business Schools with the Best Returns on Investment

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

Accepted.com ~ Helping You Write Your Best

The option to take the GRE instead of the GMAT exam is a somewhat recent development. What began as a trend (started by Stanford GSB) among a few schools has exploded into an almost-standard option available at 27% of the U.S. News‘ 433 b-schools on the Best Business School rankings report. More than 300 b-schools total accept the GRE as a GMAT alternative (including those not included in the U.S. News rankings).

This expanded option allows b-schools to widen their applicant pool, attracting potential MBAs from other GRE-required graduate paths.

US News ranked b-schools that now accept the GRE include:

1. (tie) Harvard Business School and Stanford Graduate School of Business
3. Massachusetts Institute of Technology (Sloan)
7. Dartmouth College (Tuck)
9. New York University (Stern)
11. Yale University
13. University of Virginia (Darden)
14. Duke University (Fuqua)
16. University of Texas—Austin (McCombs)
19. Washington University in St. Louis (Olin)

According to David Payne, VP and COO at ETS, accepting the GRE is a smart move, specifically from a business perspective. “At no cost to the schools,” he says, “it allows them to increase the size and diversity of their applicant pool.” More than 600,000 people take the GRE every year, while only 270,000 take the GMAT.

Both tests have experienced an increase in the number of test takers every year for the last six years.

Advantages to test-takers of the move of b-schools to accept the GRE include:

• The GRE costs about $110 less than the GMAT.
• Students who wish to apply to both b-school and another graduate or PhD program can do so easily (and affordably) by taking only one test.
• Those with weaker quant skills will have an easier time navigating the GRE’s math section than that of the GMAT.

Related Accepted.com Blog Posts:

• More B-Schools Accepting GRE in Lieu of GMAT
• GMAT or GRE: Which is Best for You?
• Record GMAT Registration Volume in 2009
• GMAT Advice

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

Accepted.com ~ Helping You Write Your Best