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FROM LBS Current Students Blog: MBA: Facts & figures |
I remember when I was at a crossroads, trying to decide whether to do an MBA. I used to read the Admissions and the Student Blog, trying to avidly gather information, facts, figures, stories, that would help me picture how life would be when doing an MBA and how would I fit in. I used to think: I want more information. How about this? How about that? This is my stab at it. In this post I am trying to give you those facts and figures that I felt I missed. The application. How competitive is it, really? Success rate:For the 2016 class, there were 3000+ applications and 411 made it through. GMAT: The GMAT average is 700. The range, 600-800 (yes, some people got 800). The class profile. How diverse is it, really? Age:The age range is 23-38, with experiences ranging from 2 to 13 years. The 2 year experience ones are a very small percentage, and only coming from top-notch consultancies. Diversity: Massive. There are 65 nationalities. I remember joining thinking I really would like to experience diversity. I just couldn’t grasp how much of it there would be. From the moment you join, you are part of a study group that does all 1st year projects together and – trust me – spends massive amounts of time together. Take the profile of my group as representative: Indian, Portuguese, Brasilian, American with Chinese background, Singaporean that has spent a significant amount of time in the US, and me, Catalan having worked for a long time in the UK. That’s in terms of nationalities. Now let’s look at previous employment: Founder and MD of a start-up with 2 million turnover, assistant VP at Bank of America Merrill Lynch, Associate of an Investment company, management consultant, management consultant and me, Satellite Project Manager at Airbus Defense & Space. Age range: 27-33. And if I went into personality types, you would see there is a significant range as well. I knew there would be diversity. But to that extent? It’s amazing. And once you are in, what? Let’s get to the knitty-gritty. The course started on the 18th of August (yes, August). First week: The first week is called Orientation week. It’s light. You do introduction, and a series of workshops of topics like Ethics or Case Studies. The highlight of the week is the Away Day – a day full of Team Building Activities to get the study group starting to work as a unit. First month: 1 Orientation week + 3 weeks of what’s called Pre-term. In the pre-term you do: - Understanding General Management: A case-study based course in which you see what general management is. - Global Leadership Assessment for Managers: a three-day course that focuses exclusively on leadership and personal development. It includes a 360 feedback, a NEO questionnaire, and a 1×1 with an executive coach. It’s great. - Business Writing and Communication: Two half day workshops focussed on business writing and presentation skills. Good reminder. - Corporate Finance: The first of the core subjects starts in the pre-term, allowing for a staggered core subjects start that will ease your transition into the academic world. The rest: The rest of Term 1 has strategy, Economics, Financial Accounting and DMD (Data Models & Decisions). MBA Term 1 is hard. I mean it. It’s hard. I studied Aerospace Engineering at top notch university and graduated top of the class. And I can tell you that this MBA, so far, is hard. Why? Because the workload is very high and because, if like me, you came from a different background, you need to adjust your way of thinking to the different disciplines. Why do I say the workload is very high? The lectures are 2:45h long with a 15 minute break in between. Before every lecture you generally need to read a case study or a book chapter. There are a significant number of post readings, maybe 3 academic papers. So far, 2 months in, I have done 1 exam, 7 individual assignments and 9 group assignments. 2 more exams next week. You do the maths. Oh, and by the way, let me throw the bomb right now: All exams happen on weekends. What? Yes. Accept it. Move on. But it’s worth it. It is definitely worth it. We have come here to learn. We wouldn’t be learning if we were simply scratching the surface without getting the hands dirty and exploring the concepts to a certain depth. And achieving that depth requires time, and practice. The course is well-organised, though. The fact that you start Corporate Finance before the rest of the subjects tells me immediately that the Programme Office is aware of the workload and knows what they are doing. You will see. I still cannot get over the fact that exams are on weekends though – I need to give feedback on that… I hope that those of you that, like me, were looking for actual details on what the MBA life is like (the Academics in this case), have had some of their questions answered. If you have any question, please ask! |
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