Here’s a talk with a student from Berkeley Haas, a top MBA program based in the Bay area, with close proximity to the e-industry and biotech clusters in Silicon Valley.

You’re in laid back Berkeley.  With the mountains, food, and ocean nearby how do you get anything done? What’s the best way to plan for your two years to get the most out of it?

Coming in, all of my colleagues and myself thought this would be our last time in school, so that naturally led us to try and get involved in all the activities.  But that’s a bad idea if you want to make the most out of your experience. You just end up being really busy, and not doing anything substantial. I suggest choosing one main actiivty where you have a leadership position, and then have one or two others where you’re casually involved. And at Haas, grades are not emphasized–meaning not given to on-campus recruiters–so do what you can in school and don’t overload yourself.

How close did you stick to your originally stated goals from your application?

I wanted to make a transition from health care consulting into industry in the short-term, and that has definitely worked out for me. I used to be a consultant in Tokyo, and now I’m working at Genentech in San Francisco. My long-term plans have changed though. Originally I thought I wanted to start my own company helping medical device companies bring products more quickly into Japan. But I think Haas’s proximity to Silicon Valley has made me become more e-tech savvy. So that’s why at Genentech, I’m in the biotech e-marketing group.

So you were pretty focused on health care.  That’s been a good match for you at Haas?

There may be a preconception that Haas is entrepreneur tech-focused MBA program and that’s because of the proximity to Silicon Valley. Lots of people do come with tech backgrounds. But the curriculum has a very strong general management focus, with lots of different courses for many types of industries. I had many health care oriented classes to choose from. And they have an MBA/MPH joint degree if you want to pursue that route.

Why did you choose Haas?

It was tough.  Bascially, it came down to the fact that I couldn’t cheer for any other football team in the country.  Berkeley’s my alma mater.  But also–there are so many good programs out there, so I really focused on my career path and where I could see myself living in the future. I’m a California native, so I couldn’t see myself putting up with the snow in Boston.  And I’m married, so I wanted to think about my family and where we would be most comfortable. My point is that reputation or ranking isn’t everything.  Once you get into the upper echelon of schools, rankings don’t matter–you have to go where you feel comfortable. Northern California was the choice for me.

What did you find out the school offers that you couldn’t find out from the website or an information session?

Haas has a unique and collaborative student culture. We really work in teams, where one minute we might look like we’re having fun, and then another minute fighting–which is actually constructive debate.  Your age and experience here don’t matter–people don’t judge you on that.  As long as you are making a commitment to engage you’ll be embraced and valued.

What about your favorite classes?

The classes I wouldn’t miss are 1) Core Marketing by Professor Rashi Glazer. It’s very interesting and very educational and that’s saying a lot because many of us already had some marketing background, but we all learned something. 2) Operations by Terry Taylor. Very good at explaining operations to beginners.

What kind of leadership training or mentoring do you receive at Haas?

Curriculum-wise, there were optional leadership seminars that people could sit in on.  Haas is also revamping its core curriculum next year, to focus on developing innovative leadership. Outside of class, the clubs definitely help you develop your leadership skills. If you get selected for a leadership position, you really get to be in the driver’s seat.

How much help has career services been to you?

Career services is excellent.  It’s unique in that our career advisors are allocated to an industry vertical. They have significant contacts, experience and credibility amongst recruiters.  That’s a real help to first years trying to secure an internship.

Can you tell me about your best day so far on campus?

When I helped plan for the annual healh care conference and all our planning, hard work and late nights came together. Our panelists struck up good discussions and debate, and people got really engaged, especially due to the health care reform passage that was going on at the time.

Worst day?

A bad interview, and then walking into a class unprepared because I had spent so much time preparing for the interview, and then getting cold called.

It’s the Bay Area, so we have to ask about the food. Best restaurant?

If you’re ready to ante up some cash, there’s Chez Panisse, the restaurant that invented California cuisine.  But there are also good eateries at a low cost all around campus, so just explore. My favorite that just opened is a Japanese place called Ippuku.

Last words of advice?

A lot of people coming into business school have high aspirations and want to pick the school they think will look the best on their resume. I would say, de-emphasis rankings and think ahead to what you want out of your career. Select a school that will help you meet those goals.

Interview conducted by Michelle Stockman, who worked in the Columbia Business School admissions office, has a Masters in Journalism from Columbia, and has assisted Accepted.com clients applying to top business schools since 2007. She is happy to help you with your application.

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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.

Result highlights:

• 77% of the full-time graduating class received job offers. This is compared to last year’s 74%.
• Students have accepted jobs at 80 companies in 13 countries.
• Median base salary for this year is the same as last year at $110,000.
• The most significant hiring industries for Haas MBA grads are the fields of technology (hired about 36%) and consulting (32%).
• The energy sector, including alternative energy and infrastructure, increased in popularity this year.
• A number of Haas graduates received job offers or summer internships at top companies including Apple, Google, and McKinsey.
• 95% of Haas Class of 2011 students received internship offers for this summer.
• Summer internships are spread out over 135 companies in 15 countries.

In an initiative to work with the not-so-great job market, Berkeley-Haas career services department worked this year to track global hiring trends on top recruiting companies, and worked closely with Haas@Work, the school’s experiential learning program. Students are also bumping up their job search initiatives by taking networking more seriously.

Related Accepted Blog Posts:

• Overcoming economic challenges: How four exceptional leaders work to improve top business schools
• B-School Class of 2010 More Confident, Job-Wise, than Class of 2009, Despite Fewer Jobs
• B-School Students See Light at the End of the Job Market Tunnel
• GMAC: MBA Employers Express Job Market Optimism

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Next, Dean Blair Sheppard from Duke Fuqua is working to expand Duke’s global footprint by opening Duke campuses in China, India, and the United Arab Emirates. In order to do so, Sheppard must navigate through each country’s rules and regulations, create new, global curriculums, build the campuses, and figure out how to distribute Duke faculty abroad.

According to Georgetown McDonough’s Dean George Daly, the most pressing concern facing his student is jobs. Therefore, Daly is less concerned with million-dollar building and expansion plans and is more interested in building new opportunities for his students. Typically, more than half of Georgetown graduates found jobs either on Wall Street or in consulting. This past year, only 67% of students received job offers by graduation, a significant drop due to a decrease in available jobs in those two popular areas. Daly’s new goal is to do more outreach to Washington, D.C. employers—”the employers in its own backyard”—including government-related firms. Building new relationships with recruiters and shifting student expectations to a wider range of careers, according to Daly, “will be a tough sell.”

Edward Snyder, incoming dean at Yale SOM, has a different sort of task ahead of him. When Snyder takes the dean position next July, he’ll be faced with the challenge of revamping Yale SOM’s image and building up its brand. Fortunately, Snyder comes with years of experience. As former dean of UVA Darden and Chicago Booth, Snyder knows how to achieve such goals as boosting diversity, improving b-school/university relations, and fundraising. In fact, Snyder explains that what attracted him to Yale is just what had attracted him to Chicago—”the challenge of building another business school within a prominent university.” Snyder’s specific goals include fundraising to complete a $150 million building project, strengthening ties with alumni, increasing class size, and, perhaps most importantly, creating enthusiasm among Yale SOM students, faculty, alumni, recruiters, and donors. “The law school [at Yale] is No. 1, undergrad is No. 1 or close,” he says, “how about making Yale School of Management No. 1, or close to it, too?”

(Sources: “Deans Set Priorities for Tough Times” and “Turnaround Specialist to Take On Yale,” both from the Wall Street Journal)

Related Accepted Articles:

• Duke University Continues to Expand Worldwide
• Duke Fugua 2011 MBA Application Questions, Deadlines, Tips
• Haas’ Dean Rich Lyons Unveils New Strategic Plan
• Haas Announces New Dean
• Yale SOM 2011 MBA Application Questions, Deadlines, Tips

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Graduation speakers are choosing their words wisely to leave new MBAs with a feeling of triumph and opportunity—rather hard to come by sentiments given the economic crisis of the last two years—without neglecting the sometimes harsh reality of a recovering economy.

The following quotes come from keynote speakers’ speeches or their notes for forthcoming speeches:

“There will absolutely be setbacks and rejection, and this is the best time of one’s life to grapple with these challenges….[Graduates] are young, optimistic, full of drive. A time of unprecedented economic crisis is the perfect opportunity to develop and use their unique, fresh perspectives and skill sets.” (Ken Denman, chief executive of Openwave, speaker at University of Washington Foster School of Business)

“I am a committed capitalist, not the Fairy Godfather.” (Todd Stitzer, former CEO of Cadbury, speaker at Columbia Business School)

“If you believe in what you’re saying, if you believe in what you’re doing, you’ll be more effective, more passionate, and more authentic in everything you do.” (Seth Goldman, co-founder of Honest Tea, speaker at the American University Kogod School of Business)

“Have an interest that takes you totally away from the business world, whether it’s skiing, windsurfing, hiking, meditation, opera, or some worthwhile nonprofit….You have to step outside your daily environment, not only to replenish your spirit, but so you can strategically review where you are, where you are going, and what you should do next.” (Richard C. Blum, chairman of Blum Capital Partners, speaker at UC Berkeley Haas)

“Entrepreneurs objectify their idea into a company that is in fact the generating machine of jobs in America….[I]t is business, not government, that creates all wealth.” (Carl J. Schramm, CEO of the Kauffman Foundation, speaker at Pepperdine University Graziadio School of Business and Management)

Related Accepted.com Blog Posts:

• B-School Students See Light at the End of the Job Market Tunnel
• Good News for MBAs: Job Opportunities Abound!
• GMAC: MBA Employers Express Job Market Optimism
• The Make-Your-Own-Job Solution

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Linda Abraham: How does the new curriculum differ from Haas’ previous focus on Leading Though Innovation? Is it window dressing or is it really new? Is it evolutionary or revolutionary?

Peter Johnson: The new curriculum represents more of an enhancement than a revolutionary change in direction or values. With our new curriculum we are continuing to sharpen our focus on innovative leadership without abandoning a thorough grounding in business fundamentals in our core courses.

The new curriculum initiatives include:

• A total rewrite of our leadership communication course and our “Leading People” core courses.
• Expanded experiential learning opportunities
• Berkeley Innovative Leader Development (BILD), which teaches an approach for managing innovative processes.

LA: Could you provide a little more information about BILD?

PJ: BILD provides the framework that students will use throughout their time at Haas and beyond. Haas alumni will be able to use it when approaching any innovative process, whether business process redesign, strategic redesign, product development, technology innovation, or any other innovative course of action in the business realm.

The BILD approach will be incorporated throughout the MBA curriculum, both in core and elective courses, and will include a coaching component. It will teach in a practical sense problem-finding, problem-solving, and ideation skills; it ultimately nurtures a thought process that will complement the solid core business fundamentals taught at Haas, and prepare our graduates to lead in a dynamic, fluid business environment.

LA: How do Haas’ four defining principles fit with the new curriculum? [The principles are: 1) Question the Status Quo. 2) Confidence without Attitude. 3) Students Always. 4) Beyond Yourself.]

PJ: These cultural principles aren’t new. Let me give you a little background: Over the last 18 months, Haas has gone through an extensive period of reflection and examination. We asked many members of our extended community, including students, faculty, staff, alumni, and recruiters, about the Haas culture. What makes Haas different? We assessed our values and our strengths, analyzed the results, and distilled it all into these four actionable principles.

LA: What are the implications for applicants of the new curriculum, BILD, and the explicit statement of the four defining principles?

PJ: We don’t expect applicants to come to the Haas MBA program knowing BILD. We do expect them to want to learn it. We are going to teach this approach to innovation throughout the MBA program.

We will, however, seek applicants who share Haas’ commitment to the four defining principles before they set foot on campus. And by stating them explicitly, we intend people to pay more attention to them. If you aren’t interested in representing those values–that is, if you don’t share those values—then this isn’t the place for you. We seek applicants who identify with the four defining values, live according to them, and want to deepen their commitment to them while at Haas.

LA: Since Haas is stating so clearly and succinctly what it cares about, are you worried that you will get a lot of talk about lifelong learning, commitment to the world outside yourself, questioning the status quo, confidence without attitude—in other words, “keyword stuffing” in applications?

PJ: We will look for evidence that the applicants can walk the walk as well as talk to the talk. We want to see evidence, not just words. We will seek ways to make those values demonstrable through our application.

However, I would advise applicants to be realistic about themselves and our expectations. We don’t expect them to have had massive impact with a few years of full-time work experience. Meaningful examples don’t have to be at the enterprise level. Substantive examples can relate just to your task and your boss in your department or team. Some applicants are afraid they haven’t done anything compelling, but more often than not they have, and if they can effectively communicate those examples in the application process, they will do fine.

Learn More:

• UC Berkeley Haas B-School Zone
• Leadership in Admissions, a free, special report.
• “Shhh…I’m Going to Tell You a Personal Statement Secret!”

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

• Harvard Business School, Yale SOM, Northwestern Kellogg, Chicago Booth, and Michigan Ross are all either in the midst of searching for or have just hired new deans. B-schools around the country are trying to revamp their programs, ramp up fundraising, and freshen the face of leadership in an effort to restore “the tarnished reputations of business schools,” states an article in the Wall Street Journal, “B-Schools Try Makeover.” We’ve discussed the MBA makeover quite a bit in this blog; see the following articles for more information: “The MBA Oath: Where Business and Ethics Meet…Maybe,” “B-Schools Implement Reform Long in the Making,” “Haas’ New Image: ‘Developing Innovative Leaders,’” “Chicago’s Ted Snyder To Become Dean of Yale SOM in 2011,” “Kellogg Names NYU Stern’s Sally Blount New Dean,” “HBS News: Dean Light to Retire,” and “Ross Sad to See Dolan Go.”

• A related article (”Changing Course” in The Economist) also highlights changes b-schools have made to heighten ethical awareness, modernize and make more relevant curricula, and to churn out good people, as well as good businessmen. HBS’s MBA Oath has taken a front seat in this discussion, as well as Berkeley Haas‘ curriculum reform. Haas’ Dean Lyons says, “This feels like exactly the time for a business school to take values seriously—not just post them on the wall, but to really go for it.” Lyons explains that the MBA Oath, while a good idea, needs to be transformed from a b-school conversation into an integral part of universal culture. Enforcing the important role of strong, innovative leaders is also at the forefront of Dean Lyon’s evolving strategy.

Related Accepted.com MBA Resources:

• B-School Zones
• Submit a Stellar Application: 42 Terrific Tips, an instantly downloadable ebook
• Navigate the MBA Maze, a free email course

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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

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While graduates from top business schools like Wharton or Northwestern Kellogg are seeing a positive pick up in the job market, other graduates, like those from NYU Stern and University of Texas-Austin’s McCombs School of Business, are faced with a job market that has not yet recovered from the 2009 recession.

At NYU, only 76% of students had a job offer by graduation in 2009; at McCombs, only a lucky 70% had that privilege. In normal, pre-recession years, more than 90% of students receive job offers by graduation.

Abby Scott, executive director of MBA career services at UC Berkeley Haas has dubbed this post-recession era as “the year of the networked job search.” Haas students explain that they can’t rely as much on “robust school-led recruiting effort[s]” as they can on individual efforts.

In terms of the sorts of jobs that are available, there are certain sectors that are seeing a rise in MBA hiring and some that are not. For example, jobs in retail or at luxury firms are few and far between, while jobs in consulting and financial services are on the hiring rebound, relates the WSJ article.

Rotational programs are also on the rise, receiving a 36% increase in hiring this year. Students are also opting to head abroad and search for jobs in other markets. Blair Sheppard, Duke Fuqua dean, explains that MBA grads used to rarely consider going overseas—salaries weren’t high enough to entice a loan-heavy graduate—but now, overseas salaries have increased, offering grads a wider, global job search.

The article continues to state that there’s hope for next year’s grads as evidenced by the increase in internships this past year. At Wharton, for example, on-campus summer internships increased 30%, a number close to pre-recession rates.

Job-Related Accepted.com Blog Posts:

• More Students Head to Mom and Pop For Jobs
• B-School Students See Light at the End of the Job Market Tunnel
• Good News for MBAs: Job Opportunities Abound!
• GMAC: MBA Employers Express Job Market Optimism
• The Make-Your-Own-Job Solution

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

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