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Yale SOM

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lanter1

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Updated on: 28 Jul 2008, 15:43

Originally posted by lanter1 on 05 Apr 2008, 07:47.
Last edited by lanter1 on 28 Jul 2008, 15:43, edited 4 times in total.

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I am here to answer any questions pertaining to Yale. I will add important info to this initial thread later.

Essay questions for class of 2011:

Here are the 2009 Yale SOM Questions -

1: Why a Yale MBA?
What is the impact that you wish to have on the world? How will your previous experiences and a Yale MBA enhance your ability, in the short-term and long-term, to pursue a career that will allow you to achieve this impact? (500 words maximum)

2: Leadership Example
Describe a professional accomplishment that exhibits your leadership style. The accomplishment should include evidence of your leadership skills, a description of the actions you took, as well as the impact you had on your organization. (500 words maximum)

3: Personal Statement 1
Choose one of the following topics and answer it in essay form. Please indicate the topic number at the beginning of your essay. (500 words maximum)

(1) A central premise of our teaching about leadership at the Yale School of Management is that true leadership – leadership that helps to address a significant problem in a new way – is necessarily personal. It is only when personal passion aligns with meaningful aspirations that individuals are able to inspire others to act in support of an important goal or cause. What are you most passionate about, and how have you demonstrated a commitment to this passion?

(2) What personal achievement are you most proud of and why?

(3) Describe a situation in which your values were challenged. How did you respond to the situation and what did you learn from it?

(4) A phrase often heard among SOM graduates is that they aspire to lead a life that is an “SOM Story” – that of a broadly engaged, values-based leader who owns and solves hard problems that matter. How will you create your own SOM Story? Describe a situation in which you devised and implemented a creative or innovative solution to a difficult problem. What obstacles did you face and how did you overcome them?

(5) The Yale School of Management is a community of individuals with diverse backgrounds and interests. What unique attributes would you bring to the Class of 2011?

(6) What is the most difficult feedback you have received and how did you address it? Looking forward, what skills are you most eager to build or improve upon in business school?

(7) Required for reapplicants: What steps have you taken to improve your candidacy since your last application?

4: Personal Statement 2
Choose one (1) of the topics listed in Essay 3, or create a topic of your own about a subject that is meaningful to you, and answer it in essay form. Please indicate the topic number (or state the topic if it is not one of the ones listed) at the beginning of your essay. (500 words maximum)

Some facts about the school are below.

Class of 2010*

Average GMAT Score 718
Middle 80% range 670-760
Average Quantitative 47 (81st percentile)
Mid 80% GMAT Quantitative 42-50
Average Verbal 42 (95th percentile)
Mid 80% GMAT Verbal 35-47
Average College GPA 3.5

Enrollment 196
Women 34%
U.S. Under-Represented Minority 8%
International 28%

Geographic Representation
Asia 15%
Europe 4%
Central and South America 5%
Africa/Middle East/Pacific 4%
North America 72%

Undergraduate Majors
Business 19%
Humanities 19%
Economics 18%
Engineering 16%
Social Science 15%
Science 6%
Computer Science 3%
Math 3%
Law 1%

ADMISSIONS
Class of 2009

Average GMAT Score 700
Middle 80% range 640-760
Average Quantitative 46 (80th percentile)
Mid 80% GMAT Quantitative 41-50
Average Verbal 40 (90th percentile)
Mid 80% GMAT Verbal 34-46
Average College GPA 3.5

Enrollment 178
Women 34%
U.S. Under-Represented Minority 11%
International 21%

Geographic Representation Asia 11%
Europe 2%
Central and South America 6%
Africa/Middle East/Pacific 1%
North America 80%

Undergraduate Majors Business 23%
Social Science 22%
Economics 16%
Engineering 16%
Math and Science 11%
Humanities 9%
Computer Science 2%
Law 1%

Career Services
Class Profile
Enrollment 205
Women 34%
International 21%
U.S. Under-Represented Minorities 12%
Average Pre-MBA Work Experience 5 years
Average Age 27
Top

Salary Overview
Mean Base Salary $99,307
Signing Bonus $26,318
Other Guaranteed Compensation $27,170

Industry %
Financial Services 53%
Investment Banking 26%
Diversified Financials 17%
Investment Management 7%
Private Equity 3%
Consulting 14%
Technology 10%
Nonprofit 7%
Consumer Products 5%
Manufacturing 3%
Pharma/Biotech/Healthcare 3%
Energy 2%

Admissions Ambassadors:

https://mba.yale.edu/MBA/students/talk/ambassadors.shtml

Discussion Forum:

https://som-talks.som.yale.edu/forums/

IHateTheGMAT

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08 Apr 2008, 16:51

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Hi lanter,

Thanks for doing this! I was just wondering if you knew what Yale's current class size target is (class of '10 and class of '11). I know there has been a lot of movement on this. It was 220, dropped to 180. They had all those deferrals that one year. I was just wondering if you knew what their current class size target is? Thanks!

P.S. Has Yale SOM told you how much apps were up by this year?

lanter1

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10 Apr 2008, 10:29

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Their target class size is around 180 but not more than 180. I will find out the app % this weekend as I will be in New Haven for Welcome Weekend.

IHateTheGMAT

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11 Apr 2008, 14:54

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Thanks! Please let me know the app number if you hear it. I'm sure it will be a great weekend, there are a lot of exciting things happening at Yale SOM.

lanter1

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15 Apr 2008, 09:16

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I heard the app count was over 3000 and that they are only accepting about 10%.

lanter1

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19 Apr 2008, 08:03

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Here is a breakdown of welcome weekend:

Day 1
12:00 – 1:30 p.m. Registration and Lunch, 55 Hillhouse Avenue
• Club Fair, Caulkins Courtyard, 56 Hillhouse Avenue
• Tours of SOM, Every 15 Minutes Leaving from Registration Area
• Laptop Program Information, 55 Hillhouse Avenue
1:45 – 2:45 p.m. Welcome, Joel M. Podolny, Dean & William S. Beinecke Professor of Management
2:45 – 4:00 p.m. What Does Leadership Mean to You?, Amy Wrzesniewski
2:45 – 4:30 p.m. Partners Club Gathering, Walking Tour of Yale University
4:10 – 5:00 p.m. Behavioral Finance: What Is It, and How Is It Useful?, Nicholas C. Barberis, Stephen & Camille Schramm Professor of Finance
5:00 – 6:30 p.m. Reception with Faculty, Staff, Alumni and Students, Peabody Museum
8:00 – 10:00 p.m. Dinner, Hot Tomato’s and Bentara

Day 2
9:30 – 10:15 a.m. Continental Breakfast, GM Room
10:15 – 10:45 a.m. Financial Aid and Loan Forgiveness Overview, Karen Wellman, Financial Aid Office
10:45 – 11:15 a.m. Overview of the Career Development Office (CDO), Allyson Moore, Director, CDO
10:45 a.m. – 12:00 p.m. Partners Club Gathering, 56 Hillhouse Avenue, Room A48
11:30 a.m. – 12:15 p.m. Career Panels (select the panel that most interests you)
• The SOM Approach to Careers in the Nonprofit and Socially
Responsible Business Industries, A53
• The SOM Approach to Careers in Consulting, Marketing, and
Technology Industries, A60
• The SOM Approach to Careers in Healthcare, Leadership
Development Programs, and Energy, A74
• The SOM Approach to Careers in Investment Banking, Investment
Management, Private Equity, Diversified Financials, B60
12:15 – 1:45 p.m. Lunch with Current Partners, Hosted by the Partners Club
12:30 – 1:45 p.m. Lunch with Alumni and Students (I did an apt tour during this event)
2:00 – 2:45 p.m. International Experience Presentations
3:00 – 4:45 p.m. SOM Club Activities
• Yale University Tour
• Outdoor Activities and Ice Cream Social
• East Rock Park Hike
• Absolut Marketing (Games and Trivia)
5:00 p.m. Champagne Toast, Hosted by the Food and Wine Club, Caulkins Courtyard
5:30 p.m. End of Welcome Weekend

Side Notes:

-New b-school will be finished in 2010...very exciting although i will not get to enjoy it.

-Adding to staff in order to raise class size to 200 then 250 then 300 once the new b-school is in place (300 will eventually be the magic number)...they are trying to get the staff in place now which is great for current students.

-SOM is going after high caliber profs from other schools....PE prof from Wharton just joined the SOM staff.

Questions about Welcome Weekend
1. Did you meet any other admits that were seriously debating between Yale and another school? Most of the admits had Yale in their top two. Out of the students who attended about half had made the decision to attend SOM. Other students were considering Columbia, Duke, Virginia, etc. There was not a common thread to other schools being considered.

2. Did you see the grad housing? How was it? Where are most admits planning on living? There is no set grad housing although the school does offer two or three apt buildings for grad students. Most of the SOM students live on Mansfield Street (party street), in East Rock, or downtown. Try to find a place that pays for utilities as this is not a fixed cost and could range in the 300 to 400 dollar range in winter for a 1000 square ft. My apt will be in East Rock about a half mile from the business school. Yale offers a shuttle service that picks students up and takes them where they want to go. This is great for the cold months.

3. Was there any commonality that you could see in all the admits? While Yale is an extremely diverse background, a lot students seemed to either come from a nonprofit background or have aspirations to eventually do something in that field. Even the I-Bankers had nonprofit ideas they would like to achieve 10 or 20 years from now. Another common thread was how respectful everyone was of what other people wanted to accomplish or have already accomplished. From IB to Nonprofit to consulting everyone seemed really interested in everyone else. Also, it was a funny dynamic to see people in IB going into nonprofit and people in nonprofit who now want to go into finance. I am not sure you would get the same level of diversity and understanding at other business schools.

4. From what you could tell, were most single or married/in a serious relationship? I would say about 10% had signigicant others with them. The class will be about 35 to 40%. I am married and my wife did not go.

If anyone has more questions, let me know.

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21 Apr 2008, 12:07

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Lanter, thanks so much for taking the time to write this up, much appreciated. :-D

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21 Apr 2008, 17:53

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lanter1 - looking at those stats , Yale seems incredible in its finance placements, yet this fact doesn't get highlighted more often - any comments ? Is there a further breakdown of task functions in finance ? I am interested in placements in trading and hedge funds.

lanter1

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22 Apr 2008, 06:17

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I don't have the exact figures, but I know that 10% went into M & A, and I met several guys who already accepted jobs at hedge funds. Yale is known as a finance school and the proximity to New York and Boston only enhance this fact.

IHateTheGMAT

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25 Apr 2008, 15:29

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Will that first increase in class size to 200 be for the class of 2011? Or will they not start increasing class size until the new building is built?

lanter1

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26 Apr 2008, 08:30

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I am not 100% certain but I believe it will be when the new building is complete.

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26 Apr 2008, 11:15

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Lanter,

Are you concerned at all that you are enrolling at Yale SOM during a year that has an acceptance rate in the 10-15% range because of the smaller class size (180). But within a year or so of graduation that acceptance rate will likely increase to 20%+ due to the increase in class size to 300 (which will likely lead to a subsequent drop in ranking and reputation). To be honest, that is a major concern of mine. I don't want to be admitted to a school when it is ultra selective and then immediately see it get significantly less selective. For example, if they had a class size of 300 last year (and assuming the same yield) their admit rate would have jumped from 15% to 25%!! That's a huge difference and I'm sure it would have an impact on ranking and reputation. What are your thoughts on this? I really like Yale SOM but this is an issue that I have not been able to get over yet.

lanter1

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27 Apr 2008, 07:41

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No, it is not a concern and I didn't pick Yale based on ranking. They are going to phase the class to 300 by adding 20 each year for the next 5 or 6 years based on what i have heard. I think the new building will attract more applicants and it may offset the increase in the class. Also, they are bringing in top profs from wharton, chicago, etc.

The average GMAT of the accepted class was 719 and most within the program see it moving into a consistent top-10 within all rankings.

My advice, is not to worry about the ranking. Don't fall into the trap of looking solely at rankings. Rankings are important, but go to a school that fits who you are and what are trying to accomplish. Remember, Yale is a worldwide brand regardless of the ranking.

IHateTheGMAT

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28 Apr 2008, 09:43

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Didn't mean to come accross as rankings based because I am far from it. I did have an initial criteria of applying to only Top 15 schools (like most people on this board) but after that ranking has been irrelevant in my decision making process. In fact, my school preferences don't match the rankings at all. My top choice school is ranked lower than 2 other schools I am applying to and my last choice school is not the lowest ranked school I am applying to. But the situation with Yale does seem to be unique as their changes in class size are quite dramatic (67% increase). Top schools have been hurt by this in the past and it is one of many factors that I'm considering.

lanter1

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28 Apr 2008, 10:15

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I do understand your concern. If you are applying next year, the increase in class size will not affect you if you are applying next year. They will not be increasing until 2011 when the building is finished. I do think there are compensating factors that will offset the increase in class size (new building, high profile faculty, and new curriculum).

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09 May 2008, 13:43

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Hi Lanter1,

What is Yale SOM doing to establish a stronger presence the financial service sector with respect to placements given that their strength is more in the non-profit sector?

Also, can you also talk about the new integration curriculum and what works and what doesn't work.

Thank you,

-M

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09 May 2008, 13:50

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mlchang616

I am wondering about this also. Additionally, does anyone have any detailed information regarding Yale's placements into Investment Banking or Private Equity? The Bulge Bracket banks seem to love Yale. Am I correct?

Are a lot of people able to enter IB/PE on the West Coast out of Yale, or is it very NYC-centric?

lanter1

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10 May 2008, 07:20

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mlchang616

The business school is trying to enhance their strength in the finance sector be getting better in PE. SOM just hired one of the top PE profs from Wharton and I feel you will see a stronger PE presence in recruiting over the next few years. They already have a strong presence in IB. From the impression I have gotten, Yale is a finance school who also believes in nonprofit. They may be number 1 in non-profit, but this is a finance school that wants students to make conscious decisions whether or on Wall Street or in non-profit.

The integrated curriculum had some pains the first semester, but from those kinks have been alleviated. What makes it work is that the profs are integrated and really work together to make the curriculum work.

lanter1

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10 May 2008, 07:25

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terp06

mlchang616

The bulge bracket does have a large presence at Yale, but there are boutique firms that recruit. They place over 25% in IB functions and 48% in diversified financial functions. PE is only about 3%, but they are trying to expand this area by bringing a top PE prof from Wharton.

I don't believe they have a large presence on the West Coast. Most students end up in NYC and Boston due to proximity, but Yale is a worldwide brand so finding positions is possible. I am interested in Charlotte and several students were placed there this year. If you have an interest in a certain area then you can find a position.

mlchang616

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13 May 2008, 14:35

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Lanter1,

I'm curious whether you have any additional information on the international experience as outlined in the curriculum. When do you begin preparing for this two-week trip overseas and is the destination pre-selected or determined by the student's field of interest?

Thanks,

-M