{"id":48641,"date":"2020-05-17T06:00:00","date_gmt":"2020-05-17T13:00:00","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=48641"},"modified":"2020-05-14T01:03:27","modified_gmt":"2020-05-14T08:03:27","slug":"what-prospective-mbas-should-know-about-applying-to-michigan-ross-episode-365","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/what-prospective-mbas-should-know-about-applying-to-michigan-ross-episode-365\/","title":{"rendered":"What Prospective MBAs Should Know About Applying to Michigan Ross [Episode 365]"},"content":{"rendered":"\n
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Applying to business school during a pandemic [Show summary]<\/h2>\n\n\n\n

Soojin Kwon (Managing Director, Full-Time MBA Admissions and Program at the University of Michigan Ross School of Business) and Diana Economy, Director of Full-Time MBA Admissions at Ross, answers pressing applicant questions about applying to Ross. They address how the application process has shifted in light of COVID-19 and what accepted students can expect<\/a> from their MBA experience this fall.<\/p>\n\n\n\n

What prospective MBAs should know about applying to Michigan Ross [Show notes]<\/h2>\n\n\n\n

Are you among the many MBA wannabes who are thinking about applying for an MBA? Are you wondering whether to apply  this cycle or next? We\u2019ve invited Soojin Kwon and Diana Economy to answer the most common applicant questions related to COVID-19 and its impact on MBA admissions, specifically at Michigan Ross. During the podcast, Soojin Kwon provides an excellent framework for evaluating whether you should apply now or not.<\/p>\n\n\n\n

Most of us have been confined to our homes for over a month. I first of all want to express my profound hope that all listeners and their loved ones are well. The restrictions and challenges of the coronavirus have wreaked havoc on so many areas of our lives, and this show is devoted to the challenges it has posed in the MBA admissions world, specifically at Michigan Ross\u2019 top-notch, full-time MBA program.<\/p>\n\n\n\n

It gives me great pleasure to have on today\u2019s show Soojin Kwon, Managing Director of the Full-Time MBA Admissions and Program at the University of Michigan Ross School of Business<\/a>, and Diana Economy, Director of Full-Time MBA Admissions at University of Michigan Ross School of Business. Both are returning guests to Admissions Straight Talk and I\u2019m thrilled to have them back. Soojin and Diana, in addition to being highly experienced in MBA admissions, and specifically Ross admissions, are both also highly articulate in this extraordinary time in so many ways. I\u2019ve invited them on so that we can learn how the Michigan Ross program is dealing with the challenges of COVID-19. I\u2019ve also used questions drawn from Accepted\u2019s recent COVID MBA webinar<\/a>, so my questions in this podcast, even more than usual, are really your questions, applicant questions, in an attempt to help you determine if you should apply for your MBA, and specifically if and when you should apply to the Ross MBA. But even if you\u2019re not applying to Ross, you\u2019re going to find a lot of valuable insight in this episode. <\/p>\n\n\n\n

Other than the health risks and inconveniences that we\u2019re all dealing with, as admissions directors what are your concerns about the impact of COVID-19 on the MBA classes now at Ross and those considering the 2020 and 2021 application cycle? [2:31]<\/h3>\n\n\n\n

Diana:<\/strong> This has taken up every meeting, every day right now, and we are regularly talking about both our students and our incoming students and doing everything we can to think about their needs and try to prioritize our planning accordingly. We meet regularly with the Dean\u2019s office, whether myself or Soojin, to make sure that we\u2019re in sync with their plans as they navigate and manage for the fall. Our Dean\u2019s office has been great about doing regular town halls for our students. So we have done town halls for our full-time MBA students at least a few times already. We\u2019ve even done town halls for our admitted students and even prospective students because we recognize the importance of communication during these difficult times.<\/p>\n\n\n\n

<< Read: How Will COVID-19 Impact Your Admissions Journey: 5 MBA Admissions Experts Speak<\/a><\/strong> >><\/p>\n\n\n\n

We\u2019re trying to communicate as much as we can, knowing that there are a lot of answers that are unknown right now, but doing what we can to stay in touch with our constituents. For our current students, one of the big areas that we\u2019re working with them on, of course, is employment, so the internships and full-time opportunities for them. And while at this point, we haven\u2019t seen that many internships or full time offers be rescinded, we are continuing to stay in contact and making sure that they have what they need to be successful this summer. And if something has mitigated their plans, our career office is in touch with our alumni and others to help support our students.<\/p>\n\n\n\n

One of the things the career office is doing is a panel of alums from 2008, 2009, and 2010 (which actually is the time that I was in school), using those alums to say, here\u2019s how I navigated things during these times to demonstrate sort of some of the tactics and things they can think about that may apply to them as well.<\/p>\n\n\n\n

For prospective students, I think the biggest question is, \u201cShould I apply now or should I apply in the fall?\u201d, right? What\u2019s the situation going to look like? And I\u2019ll let Soojin share a little bit more on that since she also oversees the MBA program and experience, but we recognize it as an unprecedented time in business school, and it still might be one of the best times to apply, given all that the MBA offers.<\/p>\n\n\n\n

The reality of the market is that it\u2019s a buyer\u2019s market. There\u2019s a smaller applicant pool, so there\u2019s a strong demand for students. So there\u2019s perhaps never been a better time to apply. In addition, as things potentially trend towards recession, this is a great chance for students to build leadership skills and experiences. We are working, whether school is happening in-person or virtually, to make as many opportunities available for students to stretch themselves and expand their skill set while they\u2019re with us.<\/p>\n\n\n\n

Soojin:<\/strong> One of the things that I\u2019ve shared with prospective students is a framework to think about, \u201cShould I apply and come to school or stay at work?\u201d And so I introduced the concept of a two-by-two matrix.<\/p>\n\n\n\n

\"To<\/figure>\n\n\n\n

Across the top is: The world is still in stay-at-home regulations, or the world is back to normal of some sort, or we can be in-person again. Those are the two at the top, and then you can either stay at work or you can go to school. <\/p>\n\n\n\n

So let\u2019s say you decide to stay at work and the lockdown is still in place. That\u2019s the left top quadrant. In that scenario, you\u2019re still going to be working remotely, if you\u2019re still able to work as the economy downsizes. There\u2019s a lot of risk to all of our jobs. So that\u2019s kind of a precarious box to be in: staying at work, continued lockdown.<\/p>\n\n\n\n

Now, if you stay at work and there is no more lockdown, what happens then is the economy is still going to be sluggish and your opportunities for growth and moving to different jobs are kind of limited, and you\u2019re not developing new skills certainly. So when the world comes out of this COVID crisis and we\u2019ve got a vaccine, 2022\/2023, you\u2019ve got no MBA. You\u2019re still doing what you\u2019re doing at best, and your options are limited.<\/p>\n\n\n\n

Now, let\u2019s go to the quadrant where you choose to get an MBA and the world is back to normal. So in that quadrant, you\u2019re going to be going to business school, getting an MBA, expanding your opportunities, developing your skills, expanding your network, having a great experience. Even if it\u2019s delayed or partially online, you\u2019re going to end up in 2022 with an MBA that expands your career opportunities like nothing else can.<\/p>\n\n\n\n

Now, if you decide to get an MBA and the world is still on lock down this fall, most schools are still planning to deliver their programs. Whether it\u2019s a virtual start or a delayed start, you\u2019re still going to learn. You\u2019re still going to have opportunities for career development, leadership development and the network, and then in 2022, guess what? You have an MBA, and the market\u2019s going to be hungry for talent.<\/p>\n\n\n\n