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FROM Accepted.com Blog: Masters in Finance Alternatives to Consider



For some people, it’s the Masters in Finance (MFin or MSF), period. It’s the right type of program at the right time. Yet, the MFin has some overlaps and similarities with several other types of masters programs, and some people’s educational needs may be met by more than one type. In fact, I’ve known and worked with such applicants. Also, before you commit the time, energy, and money into applying to an MFin program, it’s wise to examine all the options to confirm it really is the best fit.

All that said: the program categories are not rigid. For example, Princeton and MIT’s Masters in Finance programs would fit as well if not better in the first category below (Heavy Quant Programs) than with other MFin programs. And many MBA programs have a concentration in some type of analytics and of course finance.

I’ll summarize the related programs below. You might conclude that indeed only the MFin is right for you. Or you might be surprised at an appealing option you hadn’t considered!

  • Heavy Quant Programs: Masters in Financial Engineering, Masters in Quantitative Finance, Master’s in Computational Finance, Financial Mathematics, etc.
    Like the MFin, these programs are often for early career people, but many span a somewhat wider range. The curriculums are obviously highly rigorous in quantitative and analytic dimensions. Usually, the application requirements include extensive mathematics coursework as well as strong programming skills. For the “top 20” such programs, the GRE quant score averages 168+. If you are interested in such programs, check each program’s specific requirements regarding experience level and quant/programming background.

    Consider this type of program if:

    • You want a swift entry ramp to a finance career that is quant-based, which could be anything from algorithmic trading to portfolio management to quantitative research and more.

    • You enjoy the intensive quant focus and have the math chops to handle it without getting overly stressed.

  • Analytics Programs: Masters in Business Analytics, Masters in Data Analytics, M.S. in Analytics, etc.
    This relatively new discipline is essentially the human component of the big data revolution, and these programs prepare students to identify, collect, sort, and analyze data, usually for other decision makers. They target varied experience ranges: many are for early career people, but some welcome a range of experience. They vary also in that some require significant quant and programming skills, others just basic familiarity – check this before you apply. Also, many such programs are under the b-school umbrella, and so may incorporate business-related components – even though the career path is analytical and technical, these professionals must usually work in teams and effectively communicate their findings and questions to non-technical functions.

    Consider this type of program if:

    • You want to hit the ground running in a substantive role where you’ll also learn immensely not just about the data you’re analyzing but also about the organizational decision-making it feeds.

    • You have an affinity for detail, sustained attention, and willingness to learn continuously as the tools and parameters of the function continue to evolve rapidly.

  • Master’s in Management Programs:
    These are typically 1-year, early-career programs (applicants should either be recent college grads or college seniors). They enable people interested in a business career but lacking a business education to acquire familiarity with business basics. They also, via recruiting, funnel graduates into entry-level business and management roles. They cover the basic business functions with a focus on management roles, as well as professional development needs such as leadership, communication skills, etc.

    Consider this type of program if:

    • You come from a non-business major and want to start a business career with some foundational knowledge and a sharpened professional persona.

    • You want that foundation to feature breadth over depth.

  • Master’s in Business Administration (MBA) Programs:
    There’s probably not much explanation needed here. MBA programs provide advanced business training for people who have some years of experience (usually about 3-7) and also have defined career goals (paradoxically, many still change their career focus during the MBA years, but that’s another story). MBA programs range widely in format and pedagogical approach: some are lecture-based, some are case-study based, and some use both. Some offer many concentrations, and some offer a holistic curriculum. Most have core required courses. Sometimes appealing MFin applicants who have more experience than the MFin program desires are recommended to the school’s MBA program, where they might take a finance concentration.

    Consider this type of program if:

    • You want to focus on finance but have more than 1-2 years of work experience and/or you are at a professional level where you can benefit from learning alongside experienced peers.

    • You have the experience and perspective to use the advanced resources of an MBA program productively in shaping and implementing a career plan.

    • You want to combine your study of finance with a more general business education.

And, this list is hardly exhaustive! Additional related programs include Masters in Risk Management or Financial Risk Management, Masters in Machine Learning, and many others. These are more specialized and beyond the scope of this post, but do search broadly if you have a specific interest within finance – you never know what type of program you may discover!

Last but not least, I’ve had long and extensive exposure to the ever-changing world of graduate finance education, and I’d love to help you on your journey! Check out Accepted’s wide range of Graduate School Admissions Consulting & Editing Services and choose the one that’s best for you. Learn more here.




Cindy Tokumitsu has advised hundreds of successful applicants, helping them gain acceptance to top MFin, MBA and EMBA, and other graduate management programs in her 15+ years with Accepted. She would love to help you too. Want Cindy to help you get Accepted? Click here to get in touch!

Related Resources:

• Fitting In & Standing Out: the Paradox at the Heart of Admissions, a free guide

• The Berkeley MFE: One Tough Program with Amazing Opportunities for Grads, a podcast episode

• UCLA’s MS in Business Analytics: Prep for the Sexiest Job of the 21st Century, a podcast episode

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FROM Accepted.com Blog: Backup Plans, Research and Professional Support



I will wrap up this series with a few additional points.

Creating a backup plan
Think you’re done with MBA goals? Think again… In the current global economic volatility, having a backup plan for your immediate post-MBA goal can be not only good planning for you, but also enhance your goal essay’s credibility. It’s particularly important if you’re targeting a difficult-to-enter industry (remember that VC-dreamer in the first post?) or changing careers. In fact, adcoms have specifically said that they welcome this recognition of reality; it gives them more confidence that you can get employed.

The challenge, however, is to discuss a backup plan without using a lot of precious space and without sounding undirected. In the goals essay, focus mostly on your main short-term goal. Then add one to three sentences about a reasonable alternative that you’d also consider, explaining how it also would be a good step toward your further goals. Example: an applicant is targeting an IT manager role post-MBA with the long-term goal of CIO; a backup plan could be a tech strategy consulting post-MBA job.

Preliminary research
I’m always surprised at how few people do actual, real-life research on their goals before writing essays. Digging around on the web for a couple of hours or talking to people in careers related to your goals can yield rich detail for your essays. Moreover, mentioning this research in your essays enhances the sense of commitment to your chosen path. I suggest reading up on the industry and its current and future challenges, and conducting informational interviews regarding the industry or business function.

Taking this step will enable you to write sharply and engagingly about your goals. It enhances the interest factor of the essay. Also, it will prevent big mistakes like those of that Wharton reapplicant in the first post in this series. By presenting selected tidbits of your research in your essay you’ll show you’re resourceful and committed, and equally important you’ll show you have something to say, i.e., contribute.

Do you need help identifying, defining, and writing about your goals? Work one-on-one with an expert admissions advisor who will help you clarify your goals and present them to the adcom so you get ACCEPTED. Learn more about MBA Admissions Services here.

“Backup Plans, Research and Professional Support” is excerpted from the Accepted guide, Why MBA? Click here to download the complete guide.




Cindy Tokumitsu has advised hundreds of successful applicants, helping them gain acceptance to top MBA and EMBA programs in her 20 years with Accepted. She would love to help you too. Want Cindy to help you get Accepted? Click here to get in touch!

Related Resources:

• Best MBA Programs, a free guide to selecting the right one for you

• The Importance of Defining Your MBA Goal

• 6 Tips for Creating Your Compelling MBA Goals Essay

Tags: MBA Admissions

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FROM Accepted.com Blog: University of Michigan Ross Executive MBA Essay Tips & Deadlines



Taken together, the two Ross EMBA essays provide both a forest-level (essay 2, goals) and tree-level (professional achievement) view of your career. Both also reflect you as a person and an individual. Each question gives a specific lens through which to focus and shape your answer. Thus, while you address the two questions’ given points and nuances, keep in mind the larger picture of your career and your character that they portray together. Also, since question 2 refers specifically to the Michigan Model of Leadership, ensure that the story you present in essay 1 is consistent with the model’s underlying values and character.

Michigan Ross Executive MBA Application Essays:
Ross EMBA Essay #1
What is your proudest professional achievement? (up to 400 words)

Although this essay asks you to discuss your proudest professional achievement, it also, indirectly, is personal, because what is important to you in any area of your life reflects your values, your concerns, your interests, your passions. Accordingly, even though the question doesn’t ask it, I suggest clarifying WHY the chosen achievement is your proudest. It might even be a phrase or sentence, but “why” is what will ultimately make it resonate. Selecting a more recent achievement, if there is one that can rise to the superlative (proudest) level, as it’s a chance to show the reader your impact in a higher-level context that you’ll also be bring to the “EMBA table.” If it’s an older experience, it should be truly pivotal, and perhaps add a sentence about how the experience has influenced you going forward. With only 400 words, keep the structure simple – start with the story and just tell is directly, saving the words for detail here and there rather than editorializing.

Ross EMBA Essay #2
Adopted by thousands of businesses and leaders around the world, and recognized by the Financial Times as one of the 40 most important management frameworks in history, the Michigan Model of Leadership underlies all leadership research and teaching at Michigan Ross. Please describe your personal leadership goals and how the Michigan Model of Leadership and the EMBA leadership development curriculum will help in the achievement of those goals. (up to 400 words)

First, to state the obvious, familiarize yourself with the Michigan Model of Leadership (MMoL). To encapsulate, I quote from an article on MMoL by Ross professors and others: “At the centre of the MMoL is a core purpose: to make a positive difference in the world” and “The Michigan Model of Leadership enables leaders to recognise and effectively manage competing tensions in organisational life. Leaders who utilise the process of Mindful Engagement learn to balance these tensions and make an impact in a world where there are no easy answers. We need leaders with empathy, drive, integrity, and courage … whose core purpose is to make a positive difference in the lives of others.”

With that as a context, discuss your goals, spotlighting the leadership component. That means what you will do in terms of position, industry/company, AND how your envisioned impact aligns with the MMoL AND how in the specific positions you will employ leadership consistent with MMoL. Give more detail about the roles immediately post-EMBA and the several years following. Longer-term goals need less detail, but they should present a clear direction, building on the earlier roles. In both short- and long-term goals, present them through the MMoL lens – i.e., discuss things such as the difference you want to make, the tensions and conflicts likely to arise that you’ll face, the ambiguity you’ll have to navigate, and how you hope or intend to employ MMoL-based leadership in managing these factors.

In discussing how the MMoL approach and Ross’s leadership development curriculum will benefit you, be specific: describe where you are as a leader and where you need to improve, and how the program meets those needs.

For expert guidance with your Michigan Ross Executive MBA application, check out Accepted’s MBA Application Packages, which include comprehensive guidance from an experienced admissions consultant. We’ve helped hundreds of applicants get accepted to top EMBA programs and look forward to helping you too!

Michigan Ross 2018-19 EMBA Application Deadlines

 Application Deadline

 Round 1
 December 15, 2018

 Round 2
 February 1, 2019

 Round 3
 March 15, 2019

 Round 4
 May 1, 2019

***Disclaimer: Information is subject to change. Please check with individual programs to verify the essay questions, instructions and deadlines.***




Cindy Tokumitsu has advised hundreds of successful applicants, helping them gain acceptance to top MBA and EMBA programs in her 20 years with Accepted. She would love to help you too. Want Cindy to help you get Accepted? Click here to get in touch!

Related Resources:

• Ace the EMBA, a free guide

• Executive MBA Essays: How to Make an Impact

• Executive MBA Pros & Cons

Tags: MBA Admissions

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FROM Accepted.com Blog: Poets & Quants Releases 2018 MBA Rankings



Poets & Quants has released their 9th annual MBA ranking. P&Q integrates the five most recent rankings from the top publications in the world: U.S. News & World Report, Forbes, Bloomberg Businessweek, The Financial Times, and The Economist to come up with their rankings. Each source is ranked based on P&Q’s determination of their credibility. U.S. News has a weight of 35%, Forbes 25%, The Financial Times 15%, Businessweek 15%, and The Economist 10%.

Some of the findings in this year’s rankings are:

  • UPenn Wharton and Harvard Business School are tied for first place. This is Wharton’s second year in a row in the top spot.
  • Michigan Ross joined the Top 10, pushing Yale School of Management into 11th place.
  • The biggest gain was seen by the USC Marshall which was ranked 26th two years ago. This year Marshall rose 6 places to hold the #20 spot.
  • Notre Dame Mendoza slid 5 places from 24 to 29, and is the only one of last year’s Top 25 that failed to stay in the Top 25. Here are Poets & Quants Top 25 MBA Programs for 2018 (numbers in parenthesis are for the 2017 rankings):

2018

RankSchool

Name2017

RankIndexU.S.

NewsForbesBusiness

weekFinancial

Times*The

Economist*

1Harvard Business School2100.01 (1)3 (3)3 (1)3 (3)3 (3)

2UPenn Wharton1100.03 (1)1 (1)2 (2)2 (2)4 (4)

3Stanford GSB399.64 (4)2 (2)1 (5)1 (1)5 (5)

4Chicago Booth498.71 (3)7 (7)5 (4)4 (5)1 (2)

5Northwestern Kellogg596.66 (4)4 (4)8 (8)8 (6)2 (1)

6MIT Sloan695.65 (4)8 (8)4 (3)6 (7)14 (15)

7Columbia Business School894.99 (9)6 (6)7 (9)5 (4)9 (9)

8UC Berkeley Haas994.67 (7)9 (9)6 (11)7 (7)10 (7)

9Dartmouth Tuck792.010 (8)5 (5)10 (7)10 (10)11 (8)

10Michigan Ross1191.27 (11)12 (12)18 (12)15 (12)6 (12)

11Yale SOM1090.911 (9)13 (13)11 (16)9 (9)12 (11)

12Virginia Darden1390.213 (14)11 (11)9 (17)17 (16)8 (10)

13Cornell Johnson1489.715 (16)10 (10)10 (13)11 (14)16 (20)

14Duke (Fuqua)1289.511 (12)14 (14)15 (6)12 (13)13 (13)

15UCLA Anderson1587.416 (1515 (15)17 (19)14 (15)7 (6)

16NYU Sloan1686.913 (12)21 (21)13 (18)13 (11)15 (14)

17Carnegie Mellon Tepper1784.417 (19)18 (18)12 (14)19 (17)26 (21)

18UT McCombs1883.817 (17)17 (17)22 (20)20 (21)19 (24)

19UNC Kenan-Flagler1883.019 (18)16 (16)23 (24)18 (20)23 (19)

20USC Marshall2681.920 (24)33 (33)13 (30)31 (23)21 (28)

21Emory Goizueta2080.220 (20)23 (23)24 (21)22 (24)22 (23)

22Washington Foster2279.222 (27)30 (30)16 (15)23 (29)18 (25)

23Georgetown McDonough2377.025 (21)35 (35)20 (35)16 (18)32 (27)

24Rice Jones2575.923 (29)32 (32)26 (10)21 (32)30 (29)

25Indiana Kelley2175.527 (21)25 (25)28 (27)29 (22)27 (17)

*Ranks for The Financial Times and The Economist surveys are for US schools only.

Do you need help choosing the best b-school for you, and then applying successfully so you get accepted? Our expert admissions advisors can guide you through every step of the MBA application process. Contact us and we’ll match you with your personal consultant today!  





 

Related Resources:

• Navigate the MBA Application Maze: 9 Tips to Acceptance, a free guide

• Are You a Good Fit for Your Target MBA Programs?

• B-School Selectivity Index: Discover the Schools Where You are a Competitive Applicant

Tags: MBA Admissions

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FROM Accepted.com Blog: Innovative Education in NYC: All About Cornell Tech



Interview with Cornell Tech’s Dean Matthew D’Amore and Admissions Director Dr. Raymond Lutzky [Show Summary]
The Cornell Tech campus and programs on Roosevelt Island in New York City have INNOVATIVE stamped on them. Hear from Dean Matt D’Amore and Admissions Director Dr. Ray Lutzky about the inception of the program, the innovative degrees currently being offered, how to get in, and what the future holds for Cornell Tech’s lucky students and graduates.

Get to Know Cornell Tech [Show Notes]
Our guests today are Dean Matt D’Amore, Associate Dean at Cornell Tech and Professor of Practice, Cornell Tech and Cornell Law; and Dr. Ray Lutzky, Senior Director of Enrollment and Admissions at Cornell Tech. Since they both have bios and resumes longer than my arm, I’m going to do away with the details and simply welcome them.

Dean D’Amore: Can you give a little background or brief history about Cornell Tech? [2:10]
Cornell Tech grew out of a 2011 competition from Mayor Bloomberg, who wanted to incentivize a first-class technical campus in NYC, and solicited bids from major academic institutions. Seven or eight schools ultimately submitted bids, including Columbia, NYU, MIT and Stanford, and Cornell won out in a joint bid with Technion-Israel Institute of Technology. We were awarded land to build a campus and started from there. The academic curriculum is a combination of seven masters programs and a small PhD program with applied sciences in technical areas.

Normally I ask for an overview of the one or two programs my podcast guest represents. However, you both work with seven masters programs and several PhD programs. We’re going to focus this episode on the master’s options: Johnson Cornell Tech MBA, MS of Engineering in Computer Science, MS in Electrical and Computer Engineering, Master’s In Operations Research and Info Engineering, LLM in Law, Technology and Entrepreneurship, Technion-Cornell Dual Master’s Degrees in Connective Media, and the Technion-Cornell dual Master’s Degrees in Health Tech. I’m going to suggest that we not get an overview of each program and I’m going to ask what these very different programs have in common. What makes them Cornell Tech programs? [4:06]
Studio is what ties all the programs together. The Studio curriculum is 1/3 of all our one-year programs. It is a cohesive interdisciplinary program based around product development and the basics of figuring out whether to launch a company, how to launch a company, and provides students with the basic skills and insights to help them decide if they want to found a startup when they graduate as well as the tools to do so.

It sounds like Cornell Tech is very entrepreneurially-focused. Do established companies want graduates from Cornell Tech? Or is it a mix? [6:01]
We’ve been experimenting and looking at ways of working with established companies in addition to startups. With the studio program, part of our mission is to inspire and help students to spin out companies, and we have done 40-50 companies in the past five years. We also have curriculum that’s built around established companies, where practitioners come to campus and ask questions like, “How might we bring banking services to rural areas?” “How might we better educate people about retirement options?” All one-year students do Product Studio in the fall with faculty, practitioners, and sponsor companies to work on broad challenges to come up with a product. In the spring students have two studios to choose from, either Start Up Studio or “Big Co” Studio. Start Up Studio is focused on figuring out how to build a company. “Big Co” Studio students typically at least short term work at Amazon, Google, banks, other tech companies, and we want to be able to teach them about how to innovate within the big company environment.

Fall studio is a matching program based on a bidding system and area of interest so we don’t have all computer science students on one project – they are matched on interest and program. In the spring it is a bit more ad hoc. Students are encouraged to form teams, but there is a push to be interdisciplinary since that is what teams are like in the real world.

Dr. Lutzky, What are the qualities you seek in applicants? An Applicant to the LLM program and the operations research program bring very different skills, training and background. What makes for a successful Cornell Tech student? [12:16]
It is an iterative process and we look at a lot of data. A key characteristic we want people to have is a “build stuff that matters” imperative, those who want to create an impact beyond the strong technical skills of a math background or a practicing attorney in the law program, for example. We want students who can survive and thrive in the interdisciplinary format as we are challenging the paradigm of being in a graduate program.

We look for fit above all else. This school values fit more than other institutions, I think, and almost all students are interviewed and assessed on fit. We want students with a strong tech background and a strong academic transcript, but we often find we need to interrogate more. For some of our programs we offer a technical assessment, and we also assess teamwork, leadership, and whether or not applicants have learned things about themselves in the process. If a student does everything on their own or is pulling more weight than others in a team that is not a good fit.

How do you discover these qualities let’s say in the Cornell Tech MBA, whose R3 and last deadline for this cycle is Jan 3? [15:09]
This is the oldest program at Cornell Tech and one of the most exciting in my opinion. It’s a year-long program, and students spend 10 weeks in Ithaca and the rest of the time at Cornell Tech, but there are different characteristics of the application process than for our traditional MBA program offerings. We ask for a creativity statement as opposed to a personal statement. We ask applicants to pay close attention to the question being asked! For those offered interviews in person or via video we do a case, and while we are looking for excitement about the topic, more importantly we are looking at critical thinking skills and to better understand how the applicant dissects a problem and uses resources to come up with a solution. On top of that, having the right skills and work experience is important – students tend to be a bit older, with an average age of 29 – but then again we look at cultural fit. In a one year accelerated program they need to have a good sense of what they want to do so they can start their job search in earnest shortly after starting the program.

Dean D’Amore, Cornell Tech has an LLM program in Law, Technology, and Entrepreneurship. I can see how that fits with Cornell Tech’s mission, but wouldn’t an LLM in Intellectual Property be enough? What is distinctive about this LLM program? [17:26]
A number of schools offer an LLM in IP, but IP is really just one part of what lawyers for tech companies and emerging growth tech companies need to know. Focusing narrowly on IP wouldn’t get our students where we want them to be. We have a great IP professor who teaches IP and an Internet Law class, we have classes on high growth corporate transactions, which don’t involve IP at all except to figure out how much IP is worth, how to value a company, set it up right from the beginning, and get to a point of steady state. Helping students understand corporate lifecycle is really important to what we are trying to do. It’s a very focused, applied kind of program where we are giving students the toolkit to know what agreements look like, how to draft them, and have the opportunity to look at other types of law they might be interested in. We’ve also worked on courses for general applicability. Digital Health Law, for example, is really important.

We are looking for students who want to do a deep dive in technology, business, and innovation that is specialized but where we will get the full set of tools to succeed in that career path, and not everyone wants that, but students who do I think will be really happy here.

What advice would you give to applicants? [23:50]
Dr. Lutzky: I would say it’s very clear when an applicant is very passionate about what we do. When applying, doing the research is very important. Don’t contact the admissions office just to ingratiate yourself. If you want to engage do so in a meaningful way that adds value to your understanding of the program. With the exception of the Master of Law and MBA programs, a strong background in tech is expected. No one is coming in to switch careers and the level of instruction is so high it is to reinforce what they want in their careers and move along in that direction. While we request several traditional things like the GRE, transcript, and recommendation letters, fit truly is the most important thing. Applicants self-select between engineering degrees here and those in Ithaca because they are in fact quite different.

Dean D’Amore: I will add a little gloss for the LLM programs. We want folks who deepen their area of expertise in the field of tech law and want to serve the vibrant community in NYC. Not everyone who applies is strong in all those areas. We have very strong lawyers who don’t have that much experience in tech. Those students apply because they want to deepen their experience in technology. We have people who are deep in tech knowledge but need to brush up on law. You need to come in with demonstrated interest in technology, great legal skills, and be able to demonstrate to us you can achieve what you want in that time. I will say there are a few more degrees of freedom in LLM.

Roughly, what percentage of students founded startups at graduation and what percentage go to more established companies? [29:24]
One of the things we are most proud of is our outcomes. We’ve had a nearly 100% placement rate every year, which results from a combination of the startup piece, dedicated career management team, and faculty in LLM that are helpful with placements. About one out of every six students spins out. We also offer four awards of $100K to spin out, which is somewhat like an incubation model. Most of our students are looking for fulltime employment, and starting in the fall we are curating that experience for them. We call them “Anti Career Fairs” because students have schedules curated for them based on vetting by the career management team. We also infiltrate global tech hubs, and there are tenant companies – Citigroup has a hedge fund, and Ferrero Roche, for example. Bottom line we are driven by our placement rate because we are determined to have economic impact and build stuff that matters. You will continue to see strong placements and improvements like Accenture, Google, and one startup was recently acquired by Adobe. Stay tuned for more! We also have a wonderful partnership with Mastercard – they send people here for the exact purpose to bring them back to the organization and innovate within the context of a large company.

Any plans to add additional masters or PhD programs to your menu? Perhaps a data analytics masters? [33:46]
Dr. Lutzky: We do have many things on the drawing board, and have no shortage of good ideas, but we are looking into some things around “built environments,” as well as technology and infrastructure in cities. A lot of faculty are interested to go in this direction because it connects what we are already doing in engineering, big data, analytics and social impact.

Dean D’Amore: You may also see additional joint programs in the future. All of our programs have a home department in Ithaca. We are looking at things like a JD/MBA or two year MBA with one year here and one year in Ithaca.

We also have a great relationship with Technion in Haifa, Israel, and we deliver two dual degrees already. The partnership is solidified through the Jacobs Technion Cornell Institute, which focuses on research, entrepreneurship, and faculty collaboration between our two great institutions.

What would you have liked me to ask you? [36:52]
Dean D’Amore: We didn’t touch on our alumni piece. If you graduate from law school you have a great network of lawyers. If you graduate from a particular undergrad program you have a great network of people in your discipline. Here your alumni group is your cohort of lawyers, engineers, computer scientists, business folks, entrepreneurs, future investors, innovators, information science folks, so you have a depth of network from the day you graduate that can advance your career in hopefully productive ways. The ability to network across disciplines gets magnified when you look at the alumni community.

Dr. Lutzky: It is not often the city of New York gives you 12 acres to build something cool. I am biased, of course, but I think it is one of the coolest campuses in the world. Our students and faculty live here, and we have only built on 5 of the 12 acres so far. Anybody coming to New York needs to come to Roosevelt Island to see what we have created. It is an incredible environment for our graduate students.



Related Links:

• Cornell Tech

• Accepted Admissions Consulting Services

• Cornell Tech Launches Campus on Roosevelt Island

• Cornell Johnson MBA Essay Tips

Related Shows:

• What’s New at INSEAD

• Do You Fit With Cornell Johnson?

• Focus on Fit

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Tags: Admissions Straight Talk, Grad School Admissions, Law School Admissions, MBA Admissions

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FROM Accepted.com Blog: Waitlisted? How to Turn Your “Maybe” into a “Yes”



“Waitlisted? How to Turn Your “Maybe” into a “Yes” is an excerpt from MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools, by Linda Abraham and Judy Gruen.

Landing on a waitlist can be a nerve-wracking experience. As a result, sometimes waitlisted applicants let their anxiety or disappointment get the better of them. Many adcom members complain of applicants who react emotionally and behave in ways that are demanding, rude, disrespectful or otherwise inappropriate, either in their emails, calls, or even unscheduled drop-in visits to their offices. There may be 200 or more waitlisted applicants at your school, and these types of responses do not demonstrate perseverance; they reveal immaturity and lack of judgment. This behavior is duly noted and will work against you.

If you are waitlisted, take heart: the school is still very interested in you. You’re still a contender. To maximize your chances of turning your waitlist status into an acceptance, follow the school’s instructions precisely: Send what they ask for, and don’t send what they don’t want.

What Should You Include in Your Update/Waitlist Letter?
Update letters should be short – no more than two pages. Keep the letter focused on what you have accomplished since applying. This and additional letters of support will show the adcoms that you are a stronger applicant now than when you first applied.

Open with a brief thank you for continuing to consider your application and reiterate your commitment to the school and your belief that its philosophy and approach fit your educational preferences and goals. The rest of the waitlist letter and additional letters of support should focus on three critical areas:

  • Updating your qualifications
    Report any and all substantial achievements since applying: earning a promotion, assuming additional responsibilities at work, or taking notable initiatives in or outside of work. Have you had an article published? Earned a patent? Launched a business? Led a notable project at work? When possible, highlight new accomplishments not previously discussed in your application. Ideally, you should relate these new achievements to some of the themes or experiences you addressed in your essays.

  • Steps you have taken to ameliorate weaknesses
    Reinforce the idea that you are working to strengthen a weak spot in your profile. For example, if you enrolled in Toastmasters to improve your communications skills, specify that you joined the group two months ago. Tell them what you are gaining from the experience, but do not say you have taken this step because you are concerned about your low verbal score or substandard grades. If you had a low GPA in quant subjects, did you take an accounting class and earn an A? Have you raised your GMAT score? Have you taken a leadership position in community service, which you had neglected since college?

    Report other specific plans for additional classes, including when and where you plan to take them, and state your willingness to enroll in any additional courses or follow any additional instructions that the school recommends or provides.

  • Emphasizing your fit with the school
    Continue to prove fit by explaining what else you have done to further your knowledge of their program and build your network there. You may already have mentioned in your application or in an interview how the school’s philosophy and approach match your educational preferences and goals, so in a waitlist letter, cite new examples that illustrate this match. For example, if you have visited the campus (post-submission), mention which class you sat in on, who taught it, and what your impressions were.

    Similarly, mention recent email exchanges with alumni or students. What new aspect of the program that jives with your interests have you discovered through these connections? Investing in connecting with the school, its students, and resources will help drive home the message that this school is the best place for someone with your post-MBA goals.

MBA admissions directors want waitlisted applicants to show passion, but not obsession. Follow these steps, and you can be sure that schools will respond to this extra personal effort, provided that your sincerity is matched by an equal measure of professionalism and courtesy.

You want your waitlist letter to be as compelling as possible. Check out our Waitlist Services and work one-on-one with a dedicated advisor who will help you jump from the waitlist to that coveted acceptance pile. Learn more about how we can help you get ACCEPTED.





 

Related Resources:

• Linda Abraham’s 6 Tips for Waitlisted Applicants

• You Can Get Accepted Off the Waitlist! Here’s How

• 5 Things the Adcoms Hate

Tags: MBA Admissions

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FROM Accepted.com Blog: 7 Ways to Distinguish Between Similar MBA Programs



School marketing materials/presentations/websites superficially sound very much the same. So how can applicants wisely research their options and discern the points of difference?

When doing MBA research, pay special attention to the following differentiating features:

  • Employment Profile
    See where graduates find jobs. Which schools send the most grads to the companies, industries, and locations you are most interested in?

  • Class Profile
    Do you want a large class or a small, close-knit class? Do you want an urban or rural setting? Do you really want to be in a class that draws over 70% of its students from engineering, business, and technical fields? Or would you prefer to be in a class where 48% come from the social sciences and humanities? Both MIT and Stanford provide outstanding MBA educations, but their classes have very different educational backgrounds. You may prefer one or the other.

  • Curriculum
    Would you cringe at Harvard’s rigid first year where everyone takes the same classes? Or would you be lost with all the options at Chicago, which prides itself on its flexibility? Is the ability to pass out of prerequisites important to you? Do you want a lot of teacher cooperation and integration of business functions such as is provided by Tuck or Yale.

  • Methodology
    Do you prefer a mix of methodologies? If so, check out Wharton. Do you seek an emphasis on projects and hands-on learning as at Ross? Do you want the strict case method? Take a closer look at HBS and Darden.

  • Clubs & Extracurriculars
    There are many schools out there that have imitated MIT Sloan’s business plan competition, but not all programs have a social enterprise competition (HBS does). If you are interested in social enterprise, that competition may be particularly appealing. What are some of the unusual clubs at the different schools that you might be interested in? For example, almost every school will have a Marketing Club, but only some, like Columbia, will have a Luxury Goods Marketing Club. Again, if this is your interest, the existence and health of that club may be an important attraction for you.

  • Professor Research
    If there is a professor or two researching the niche appealing to you, they may be the magnet pulling you to that program. Are there independent study opportunities? Do they teach MBA students? What classes?

  • Fit

    Then there is that almost indefinable quality called “fit.” Visit the schools you are considering to determine fit. If visiting isn’t feasible, talk to current students, read MBA student blogs and interviews, and follow the student body newsletters.
Understanding the differences among business schools isn’t easy, but it is worthwhile. Grasping these points of difference will enable you to make more intelligent application and acceptance decisions.

Do you need help distinguishing between the different programs and determining which ones are best for you? Explore our MBA Admissions Consulting & Editing Services and work one-on-one with an expert advisor who will help you choose the best-matched MBA programs for you and apply successfully to acceptance. Learn more here.





 

Related Resources:

• Accepted’s MBA Selectivity Index, a tool to help you discover the schools where you are most competitive

• How Many Business Schools Should You Apply To?

• 5 Factors to Consider When Assessing Your MBA Profile

Tags: MBA Admissions

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FROM Accepted.com Blog: Times Higher Education (THE) Unveils Its Long-Awaited Best Global MBA Programs




Times Higher Education (THE) in partnership with the Wall Street Journal recently released its analyzed reams of data about graduate management education and produced a ranking of “high-achieving global MBA programs.”

The study ranked the programs in 20 separate performance indicators, leading to an aggregate score indicating the strength of each program and school. These scores were then combined into the following 4 scores, called pillars, shown below with their weights:

  • Resources – Faculty per student: 11%; Teaching qualifications: 6%; Career support staff per student: 4%; Career support effectiveness: 4%
  • Engagement – Learning engagement: 5%; Interaction with teachers and students: 5%; Student recommendation: 5%; Real-world relevance: 5%; Research in teaching: 5%
  • Outcomes – Salary difference: 12%; Network: 12%; Social good: 5%; Entrepreneurship: 5%; Opportunities: 5%; Worth: 5%
  • Environment – International students: 4%; Female students: 3%; International staff: 2%; Economic diversity: 2%
Top 10 Two-Year MBA Programs

RankUniversityCountryResourcesEngagementOutcomesEnvironmentOverall

1Stanford Graduate School of BusinessUnited States79.194.19140.482.7

2Cornell University: JohnsonUnited States85.692.183.339.880.9

3Vanderbilt University: OwenUnited States85.493.189.118.680.7

4University of Chicago: BoothUnited States74.494.286.93779.6

5Duke University: FuquaUnited States71.592.78534.177.5

6University of Virginia: DardenUnited States67.193.588.628.777.3

6Yale School of ManagementUnited States67.19385.140.977.3

8Carnegie Mellon: TepperUnited States73.391.977.926.774.1

9Purdue University: KrannertUnited States53.189.882.254.773.5

10China Europe International Business School (CEIBS)China67.586.976.745.773.2

Analysis of the Rankings
You probably noticed that there are prominent names missing from the THE/WSJ top 20: Harvard, Wharton, Kellogg, MIT, INSEAD, LBS, and UCLA to name a few. These schools declined to participate. In fact, the global MBA rankings only include 54 schools, which reduces its value automatically.

In addition, the THE/WSJ ranking produces results that make me question their credibility. (The basic problem with rankings is that if they don’t match our preconceived notions, credibility is lacking. And if they are credible and congruent with common knowledge and opinion, what’s the value in the rankings? Strengthening confirmation bias?)

However, for a scathing and thorough critique of these rankings, I will point you to Poets and Quants’ John’s Byrne, who wrote “The Wall Street Journal’s ‘Where’s Waldo?’ MBA Ranking.”

Do you need help choosing the right MBA program? Work one-on-one with one of Accepted’s expert advisors to select the best programs for you, build a personalized MBA strategy, and create an application that will get you ACCEPTED. Learn more about our services here.





 

Related Resources:

• Navigate the MBA Application Maze: 9 Tips to Acceptance, a free guide

• B-School Selectivity Index: Discover the Schools Where You are a Competitive Applicant

• 3 Ways to Determine Which B-Schools Are a Good Fit for You

Tags: MBA Admissions

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FROM Accepted.com Blog: Resourceful Essay Recycling



You’re applying to six different schools and each one requires 2-7 essays/personal statements which equals…a whole lot of writing.

PROBLEM: How can you draft so many essays and still maintain a fresh and original voice in each?

SOLUTION: Adapt one essay from one application to another essay on another application, given that you follow these 4 guidelines:

  • Give each essay a unique theme and focus on different experiences
    If you present two essays on the same experience in a single application, you’ll probably end up with duplicate material, and at least one of the essays will be boring. Within a single application, you want to present varied experiences. Minimize repetition.

  • Chart yourself
    If you have multiple essays/personal statements to manage, consider making a chart and attributing certain experiences, accomplishments, and skills to certain questions so you don’t end up using the same experience, accomplishment, or skill for more than one question at a given school.

  • Portray your multi-dimensional self
    While composing multiple essays, keep in mind the different layers and textures of your personality. Try to present these layers in your essays so the adcoms receive a rich, multi-dimensional portrait of you as a human being.

  • Double check your name dropping
    Check CAREFULLY (and then check again) to make sure that you don’t forget to change an occurrence of “Wharton” to “Ross” when you adapt your essay. Sending a “Why I want to go to Wharton” essay to the Ross adcom doesn’t bode well for you!

Most importantly, make sure you’re not simply cutting and pasting (no matter how similar the questions are) and that you’re not being sloppy!

Do you need help writing (or recycling) your application essays? We can help! Check out our Graduate School Admissions Consulting Services and work one-on-one with an expert advisor who will help you get ACCEPTED!





 

Related Resources:

• 5 Fatal Flaws to Avoid in Your Application Essays, a free guide

• 5 Elements to Telling an Attention-Grabbing Story

• What 3 Essential Ingredients Must You Include in Your Statement of Purpose?

Tags: Admissions Consulting, College Admissions, Grad School Admissions, Law School Admissions, MBA Admissions, Medical School Admissions

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FROM Accepted.com Blog: Can You Double Your Salary with an MBA?



According to a recent article on the Wall Street Journal website, 75% of students who get an MBA change careers. By making this change, many are able to double their salary. However, the news is not all good. According to thousands of grads from dozens of US business schools, the pay gap between men and women continues to exist. The only exception is in the tech industry.

The Wall Street Journal and Times Higher Education polled close to 7,000 alumni from 40 US MBA programs who earned their degrees between 2012 and 2015 about their salaries and opportunities to change careers. Of the 4,400 respondents who work in the US, 75% said that they changed careers after receiving their MBA. A large number were hired by consulting firms who hire scores of MBAs, or moved to new jobs in consumer products, healthcare, or manufacturing. The largest move was to the tech sector, with 25% of the new MBAs going there. Approximately 5% of those polled left their full-time jobs and became entrepreneurs.



Grads from top schools including the Yale School of Management, Stanford Graduate School of Business, and Rice University’s Jones Graduate School of Business stated that they earned tens of thousands of dollars more after completing the two-year programs.

The average salary of graduates who went to work at top consulting firms was $162,000/year, which is the highest in any area, and a raise of $82,000 a year. The next highest paid grads were those in finance and tech sectors. They were able to make $150,000 a year if they worked in those areas before getting their MBA

The pay gap remains for women
Before earning their MBA, women, on average, earned 94% of what men earned ($63,000 vs. $67,000). Although both women and men reported post-MBA salaries that were more than double what they earned before, the pay gap persisted ($130,000 vs. $140,000).

However, the gap narrowed for those women that changed their careers after business school. Many tech companies have worked very hard to increase their diversity, and this has led to female MBA-holders earning virtually the same as their male counterparts. Female MBAs who switched to the tech sector earned 132% more than before graduate school (up to $139,000) versus males whose salaries went up 100% to $140,000.

But is it worth it?
Many people question whether an MBA’s price tag, which can now run into hundreds of thousands of dollars, is worth it.

There has been a decrease in the number of applications to US business schools for the last four years, with even Harvard and Stanford feeling the drop. Online MBA programs and one-year masters in finance degrees are becoming more popular among young professionals who don’t want to take a break from their career advancement to study full-time, or increase their debt load for another degree.

Not every MBA shows the huge salary increases. This is especially true for foreign nationals who graduate from US programs and have traditionally been recruited by US companies. The government has made visa requirements more stringent in the past year, making these grads less attractive to businesses.

One grad interviewed shared his story. The 32-year-old came to the US from Kiev in 2016 and earned his MBA at Cornell University’s S.C. Johnson College of Business. He wanted to get into the finance sector after graduating this past May, and submitted more than 200 applications. However, he did not land his dream job in finance, due, he feels to the fact that he does not have a US visa. He is still optimistic. “I think of this as a long-term investment,” he says. Hopefully his investment will pay off before he has to pay back his $100,000 student loans.

Are you planning to pursue your MBA and get a huge salary boost? Check out our MBA Admissions Services and work with a consultant who will help you GET ACCEPTED.





 

Related Resources:

• The Ultimate Guide to Becoming a Competitive MBA Applicant

• MBA, Private Equity, Cop: Meet Nik Kumar, Columbia MBA 2019, a podcast episode

• Why Do You Need an MBA?

Tags: MBA Admissions

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FROM Accepted.com Blog: MIT MBA Class Profile [Class of 2020]



Here’s a look at the MIT Sloan’s class of 2020 profile, taken from the MIT website.

Overview:
  • Class size: 409
  • Women: 42%
  • International students: 38%
  • Countries represented: 49
  • Average years of work experience: 4.9
<< Click here for our MIT Sloan MBA application essay tips! >>

Stats
  • Average undergraduate GPA: 3.48
  • Average GMAT score: 728
  • Median GMAT score: 730
  • GMAT range: 700-760
  • GRE quant range (middle 80%): 158-169
  • GRE verbal range (middle 80%): 154-159
Undergraduate majors
  • Engineering: 31%
  • Economics: 21%
  • Business/Commerce: 20%
  • Humanities/Social Sciences: 14%
  • Math/Science: 7%
  • Computer Science: 2%
Industry
  • Consulting: 21%
  • Financial Services: 19%
  • Technology, Media & Telecom: 18%
  • Government & Public Sector: 14%
  • Industrials: 8%
  • Energy: 7%
  • Healthcare/Life Sciences: 6%
  • Consumer Goods & Services: 5%
  • Professional Services: 2%
Get accepted to MIT Sloan
MIT Sloan’s Round 2 deadlines are about a month away! As an applicant to one of the most competitive programs out there, you’re going to need to make sure your application is as close to perfect as possible. Work with one of Accepted’s MBA consultants to make sure you submit a strong application that will get ACCEPTED! Check out our services here.





 

Related Resources:

• Navigate the MBA Maze, a free guide

• All the Details About the Full-Time MIT Sloan MBA Program, a podcast episode

• MIT Sloan MBA Application Essay Tips & Deadlines

Tags: MBA Admissions

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FROM Accepted.com Blog: Your 5-Item Checklist for Submitting Your Applications



Whether you’re applying to b-school, law school, med school, grad school, or college, this checklist will be the same. Don’t hit that “Submit” button until you’ve checked off the following 5 to-do’s:

  • You’ve made sure that your application presents a holistic, multi-dimensional picture of you.
    Each section of your application should not just present you as a strong candidate on its own, but should complement the other application components as well. When the admissions readers have finished reading your entire application, they should have a clear picture of who you are as a well-rounded and unique individual.

  • You’ve demonstrated fit with the program.
    To demonstrate that tight fit that adcoms are seeking, you’ll need to have done some serious thinking about who you are and about how that person is compatible with the school’s mission, ideals, and culture.

  • You have selected the best recommenders.
    The best recommenders are those people who really know you well and who will be able to draw from their unique experiences with you in composing their LOR. If your recommender doesn’t know you well, then their assessment of you may end up sounding generic and superficial. Plus, it may not be accurate.

  • Proofread, edit, and then proof some more!
    Read your essay, as well as all other application components, aloud to make sure that you hear mistakes that your eyes may have glossed over. You may also want to recruit a friend, colleague, or family member, or hire an admissions consultant, to help you edit your essays to perfection.

  • You’ve given yourself some time.
    Don’t submit your app at the last minute. Rushing your application will create more room for error, the schools’ servers may be overloaded just before the buzzer, and you may lose your chance to apply on time if you wait until the last minute.

Think you’re ready to submit? Why not run your application by the experts for a final stamp of approval? Our admissions consultants and editors are standing by, ready to help you construct an application that shines, one that shows off your greatest achievements and talents, one that you’re truly excited and ready to submit. Contact us now for more details on how we can help.





 

Related Resources:

• 5 Fatal Flaws to Avoid in Your Application Essays, a free guide

• 16 Grad School Application Mistakes You Don’t Want to Make, a podcast episode

• 4 Pillars of a Splendid Statement of Purpose, a short video

Tags: College Admissions, Grad School Admissions, Law School Admissions, MBA Admissions, Medical School Admissions

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FROM Accepted.com Blog: Encore: Bain & Company’s Keith Bevans Talks About Careers, Life at Bain [Episode 291]



As this show airs,  I’m really busy helping applicants with the end of the year application crunch. And you are probably also really busy, either with your own applications, year-end at work, or with holiday and family events and parties.

Now is an excellent time for an encore show. Consequently, I decided to replay my interview with Bain & Company’s Keith Bevans, Partner and Global Head of Consulting Recruitment at Bain. It is definitely one of the most popular interview of 2018.

Obviously if you are interested in a career in management consulting, this interview is for you. In addition, many of the qualities and skills that Bain values are also valued by other employers and by many graduate schools, especially in business, law and engineering. So pull up a chair… or at least put on your earbuds.

In addition to introducing this week’s podcast, I want to take the opportunity to thank you for listening week in and week out, or whenever you find a show you like. I truly appreciate that you choose to spend time with Admissions Straight Talk’s guests and me. Thank you!

I also want to wish you a wonderful holiday season and a happy, healthy and prosperous New Year, a year filled with the realization of your educational and professional dreams, and of course acceptances.

For the complete show notes, please check out the original blog post. 



Related Links:

• Bain Interview with Keith Bevans

• Preparing for Bain’s Hiring Process

• Fitting In and Standing Out, your free guide to the paradox at the heart of admissions

• Meet David, Cornell Johnson MBA Student Headed to Bain

• Accepted MBA Admissions Consulting Services

Related Shows:

• Haas, McCombs, and Case Interviews

• Case Interview Secrets and More with Victor Cheng

• How to Become a Management Consultant

• Building Your Consulting Career, and a Look Back at a Tuck MBA

Subscribe:

   
    

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Tags: Admissions Straight Talk, Grad School Admissions, Law School Admissions, MBA Admissions

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FROM Accepted.com Blog: London Business School Masters in Management (MiM) Essay Questions, Tips & Deadlines



The London Business School Masters in Management application essay questions indicate that the adcom values applicants who, at an early stage in their careers, already have self-understanding and the ability to reflect and self-critique. Why? For people who are just starting their careers and don’t yet have extensive real-world experience to draw on, these qualities will allow them to truly benefit from the program and chart an appropriate path forward.

London Business School Masters in Management Application Essays:
LBS MiM Essay #1
How will the Masters in Management help you to achieve your academic and professional goals? (600 words)

A simple and sensible approach to this essay is to break it into two main parts, which are integrated in the question:

The first section may be a bit longer than the second, which is fine.

I combine academic and professional goals together because they are not separate for most MiM applicants. Presumably, your professional career plans are at least part of what motivate your academic interest in business. Briefly discuss those career plans as you envision them at this point and explain how and why they inspire you to learn about business through the academic resources and approach. Since the question breaks out academic and professional, do directly address both – academic would refer to your desire to pursue this education specifically through a graduate business program, and professional would refer to your projected professional growth and the education it requires. It would also be fine to discuss a desire for academic refinement and exploration for its own sake; not every academic goal has to be related to professional goals.

In the second section, identify specific aspects of the LBS MiM program that you believe will be particularly helpful and/or important in facilitating and enabling that growth. Don’t just list things, but connect them to learning needs, goals, and/or intellectual interests.

LBS MiM Essay #2
During your time as a Masters in Management student, how will you contribute to the School community? (400 words)

This question is a great opportunity to differentiate yourself and spotlight relevant accomplishments and experience. You can portray yourself as someone who makes an impact by discussing your prospective contributions based on what you have actually done, experienced, and/or learned (and, sometimes, endured…). To identify the best topics, consider drawing from your work or internship experience, personal interests, academic experience, distinctive or unusual aspects of your background, etc. Most people will do best to discuss 3-4 topics, for each describing the given experience and explaining – in specific terms – how it will allow you to contribute to the LBS community. If 1-2 of these are discussed in some detail, you can mention 1-2 more topics with less detail.

Get professional guidance with your LBS MiM application! Check out Accepted’s MiM Application Packages, which include advising, editing, interview coaching, and a resume edit for the LBS MiM application.

LBS MiM 2018-19 Application Remaining Deadlines

 Application Deadline

 Round 3
 January 10, 2019

 Round 4
 March 4, 2019

 Round 5
 April 11, 2019

 Round 6
 Rolling from May 1, 2019

***Disclaimer: Information is subject to change. Please check with individual programs to verify the essay questions, instructions and deadlines.***




By Cindy Tokumitsu, has advised hundreds of successful applicants, helping them gain acceptance to top MBA and EMBA, master, law, PhD and medical programs, with special emphasis on MBA and EMBA and other business programs in her 15+ years with Accepted. She would love to help you too. Want Cindy to help you get Accepted? Click here to get in touch!
 

Related Resources:

• 5 Fatal Flaws to Avoid in Your Application Essays, a free guide

• Early Career Management and European MBA Programs with Jamie Wright, a podcast episode

• What Is the Diversity Essay Question & How Do You Answer It?

Tags: Grad School Admissions, MBA Admissions

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FROM Accepted.com Blog: Can You Get Accepted to B-School in Round 3?



Maybe you applied to business school in Round 1 and didn’t get accepted, and now you’re thinking about targeting some schools in Round 3 where your stats are more competitive.

Maybe you got busy or overwhelmed at work and your plans were foiled to submit your application during Round 1 or 2, and you’re thinking about getting it done now.

Whatever the reason, you’re probably wondering: Does it make more sense to apply in Round 3 or wait until next year?

There’s no one answer to that question because it depends on your unique profile and situation. But we can help you analyze your situation from our perspective, based on over 20 years of MBA admissions consulting, and give you the tools you need to develop your own winning strategy.

Join Accepted’s founder, Linda Abraham, for our free webinar: Round 3 vs. Next Year: When Should You Apply? during which you’ll learn what it takes to succeed in Round 3 and how to analyze your profile to determine what application timeline makes the most sense for you.

The webinar is free, but you must reserve your space.

Register Now:



Tags: MBA Admissions

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Accepted MBA Updates   02 Jan 2019, 10:01
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FROM Accepted.com Blog: Encore: Interview with Dartmouth Tuck’s Admissions Director, Luke Pena [Episode 292]

 



I am swamped at this time of year with clients facing early January deadlines so I decided to start 2019 with one of our most popular shows of 2018, my interview with Tuck’s MBA Admissions Director, Luke Pena.

In the show, Luke discusses the importance of Tuck’s mission to the school and in the application process. He also shares his perspective on the MBA application essays, the Tuck interview process, and what Tuck means by “wise leadership” and “confident humility.” So for those of you trying to decide if Tuck is for you, or for those of you putting finishing touches on the application you plan to submit this Monday, January 7, Tuck’s next deadline, or for those of you planning ahead for a R3 or 2020 application, this podcast is for you.

I also want to mention that if you’re an MBA wannabe trying to decide whether to apply Round 3 this year or wait until next year, Accepted has a webinar coming up just for you. On January 16 at 10 AM PT, I am presenting Round 3 VS Next Year, a live webinar to be followed by a Q&A. It’s free but registration is required.

In case you missed last week’s show I again want to thank you for listening to the podcast and wish you much success in this brand new, exciting year, 2019.

For the complete show notes, please check out the original blog post.



Related Links:

• Tuck MBA Admissions

• Dartmouth Tuck MBA Essay Tips & Deadlines

• Raether Family Donates $15 Million to Tuck

• Accepted MBA Admissions Services

Related Shows:

• Meet Duke Fuqua’s New MBA Admissions Director, Shari Hubert

• Do You Fit With Cornell Johnson?

• Building Your Consulting Career, and a Look

Subscribe:

   
    



Tags: Admissions Straight Talk, MBA Admissions

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Accepted MBA Updates   08 Jan 2019, 10:01
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FROM Accepted.com Blog: MBA Applicants: How to Get Accepted in 2019-20

 



It’s time for my annual harangue/plea/rant.

If you are planning to apply Round 1 in the fall, but have not yet thought about why you want an MBA, taken the GMAT/GRE, researched schools, or evaluated your qualifications, please please please keep reading. And then get started!

I would like to help you avoid the harried hassle and diminished application quality that accompany rushed applications. Just to be clear: Rushed applications are started just a few weeks before the deadlines by applicants who cogitate, procrastinate, or just start thinking about applying late in the cycle. Instead follow the example of those many applicants who start their applications months before applying and who work steadily to complete them by their deadlines.

Those people are getting started now.

My 25+ years in this business tell me that those who start the application process 9-12 months before they apply:

  • Get into more and “better” schools.
  • Are more likely to get scholarships.
  • Are more prepared for b-school when they arrive on campus.
They simply do better in the MBA application process than those who wait until the eleventh hour (or even the tenth).

Those better prepared applicants – they are your real competition. And the best way to compete is to start the race now.

Not tomorrow. Not next week or month or quarter. Now.

Start Your GMAT or GRE Prep
Once you determine that you have a goal that requires an MBA, start preparing for the GMAT or GRE. Don’t wait for the summer or “later.” Your test score is a critical element in your application. Choosing schools without knowing that number leads to all kinds of aggravation, stress, and unpleasant surprises.

Every year I get calls, emails, and comments from applicants who bombed the GRE or the GMAT and don’t have time to retake it. They are torn between applying to the programs they really want to attend but where their test score (and perhaps other elements) are less than competitive, and applying to programs where they are competitive but where they aren’t dying to go.

It’s a dilemma you can avoid by allowing yourself the time to retake the GRE/GMAT, if necessary.

Lower than expected test scores can throw a major monkey wrench in your plans when you take the test within two months of your target deadlines. However, if you bomb it in the spring, you will still have months to prepare again and retake the exam before the deadlines – even the first round deadlines.

Where to Apply: Dartboard vs. Intent
And then there are the applicants who don’t understand the importance of fit in the application process. They just know they want an MBA from a Top X-ranked school. They may or may not have a specific goal or reason to pursue an MBA, and they really could just as easily be throwing darts at a list of schools to determine where to invest their time and money.

Or maybe they just started too late to do the research and reflection that they could’ve and should’ve done had they started earlier. Like now.

In any case, this superficial approach could lead to rejection, a very expensive mistake, or a less-than-optimal MBA experience.

Apply purposefully to specific programs that support your goals and at which you are competitive. Don’t apply to rankings. You won’t attend rankings. You’ll attend a graduate business school.

Writing is Rewriting & Requires Time
Some of you know why you want an MBA, have good reasons for selecting the school you will apply to, and will get the GMAT or GRE score that you want the first time you take the exam; so you may be feeling a little smug. Okay, so you got the first part of the application process done. Fantastic!

However, if you slack off and wait for the last minute to complete your applications, you will end up hurrying the writing process for your essays, short answer questions, and resume, or the practice/filming process for video options on your application. Either way, you will end up rushing.

Bad idea. And bad ideas lead to bad results.

Writing – whether long essays, short essays, scripts, activity descriptions, or resumes – benefits from time. Temporal distance between revisions improves critical analysis and editing. In contrast, scrambling to slap something together leads to sloppy thinking and writing.

Getting the GMAT or GRE out of the way, thinking profoundly about fit, and starting your essays early are all important steps, but you can’t just assume that ticking items off your checklist will get you into b-school. You need something more comprehensive than that…

A Holistic, Purposeful Approach to the MBA Application Process
New Year’s Resolution: Proceed purposefully, methodically, and thoughtfully so that you submit a superior MBA application to the most appropriate schools at the most desirable deadline for you.

We’ve all made resolutions this year and in years past, but do yourself a favor and make the resolution above the 2019 resolution that you stick to.

I’m going to help you keep this one by laying out the process holistically from January through September so that you can present a superior application. It’s not just the test score or the GPA or the years of work experience or solid extracurriculars. It’s all of the above.

I’ve mapped out the process for you here.

[Click here to view full size]



If you are aiming for the Round 1 deadlines, you can download the PDF, print it, and tape it on your mirror, wall, fridge, or wherever you’ll regularly see it. Alternatively we have created a public Google doc that you can copy and paste and modify to suit your needs. Then using the timeline as a guide, add the above tasks to your calendar. And do them.

If you follow this MBA timeline, your MBA dreams will not be a mad, breathless sprint to the finish line, but a long, steady jog that allows you to successfully complete the MBA application marathon.

And what better way to reach this goal than to train with a personal coach? At Accepted, you’ll get matched with an expert admissions advisor who will guide you through the MBA admissions process – step by step, checking off each to-do along the way. Learn more when you explore our MBA Application Consulting & Editing Services. Come on – let’s nail this thing!  




By Linda Abraham, president and founder of Accepted and co-author of the definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business SchoolsMBA Action Plan: 6 Steps for the 6 Months Before You Apply, a free guide

• Business School Selectivity Index [Can I Get Into My Dream School?]

• Why MBA?, a guide to writing about your MBA goals

Tags: MBA Admissions

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Accepted MBA Updates   11 Jan 2019, 10:01
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FROM Accepted.com Blog: EMBA Programs and the GMAT



With full time MBA programs, it is fairly obvious why the GMAT is such an important component to one’s application – with less work experience, admissions committees need to find other measurements to gauge potential success in a program. Academic preparedness can clearly be evidenced with a strong undergraduate GPA coupled with a strong GMAT score. With Executive MBA programs, a GMAT score’s relation to the rest of one’s application is less obvious, since other factors are generally of more importance.

Where does the GMAT fit into Executive MBA admissions?
Criteria for admission to an Executive MBA program (often in this order) include:

  • Work experience: Perspective an applicant can bring to the classroom, future potential, and academic preparedness. During my time at Cornell, I would often say we were looking for students who could teach just as much to their fellow classmates as the faculty who taught in the program. There is no substitute for real world experience to ingrain concepts presented in the classroom.
  • Evidence that an applicant can handle the rigorous work in a program: Admissions committees evaluate this in a variety of ways, starting with undergraduate performance. Not all Executive MBA programs require the GMAT, but for those that do, the GMAT score also is an indicator of potential academic success while in a program. There is less emphasis placed on it than in full-time MBA admissions, however, since an applicant is typically much further removed from standardized testing than a full-time applicant.
What if an EMBA applicant has a weak GMAT score or a low GPA?
If an applicant has strong work experience and a strong undergraduate record, but a weak GMAT score, the undergraduate record usually gets more weight than the GMAT score. If an applicant has strong work experience and a strong GMAT score, but a weak undergraduate record, there will probably be further investigation on the part of an admissions committee to see if there were any mitigating circumstances leading to a low GPA. If not, it’s possible an admissions committee might ask for some additional evidence to indicate academic preparedness – for example, an additional quant course either online or from a local college.

Bottom line, an EMBA admissions committee wants to admit individuals who are fully prepared to hit the ground running when a program starts, and the GMAT is one indication of an applicant’s ability to do just that.

Want to make sure your EMBA application shines? Contact Accepted today and we will pair you with an expert EMBA admissions consultant who will guide you every step of the way.




Jen Weld worked as an admissions consultant and Former Asst. Dir. of Admissions at Cornell’s EMBA program (4 years) prior to joining Accepted. She has an additional 10 years of experience in higher ed and corporate marketing. Want Jen to help you get Accepted? Click here to get in touch!
 

Related Resources:

• School-Specific EMBA Application Essay Tips

• 5 Key Elements for Your Executive MBA Application, a short video

• Executive MBA: Applying to EMBA Programs

Tags: MBA Admissions

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Accepted MBA Updates   16 Jan 2019, 10:01
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FROM Accepted.com Blog: Connections Count. And You Can Create Them.



I worked with a client, who due to medical reasons, only earned a 2.2 GPA in a social science degree program. After graduating, he decided that the right career path for him was computer science so that he could realize his dream of becoming a tech entrepreneur. He had an ideal school in mind and began reaching out to students in the computer science program to learn more about their experiences.

He was so enthusiastic about what he heard, that he decided to take a bold step and move halfway across the country. He enrolled in this top university’s continuing education division, taking courses that would not lead to an academic degree, but would give him the credibility he needed.

Eighteen months later, he had taken every course that is required for a computer science major and earned A’s in all of them.

I suggested that he visit the admissions office and introduce himself, which he did. Because the professors knew him by then, and the admissions staff also knew him and had given his outstanding, relevant post-baccalaureate record, he was accepted into the graduate program for computer science.

How to stand out from the crowd
When working with clients who are applying to graduate programs, I often observe that they focus 100% of their energy on perfecting their resume and essays. Of course, written documents are critical components of a successful application, as are standardized test scores and college grades, but what can differentiate an applicant is evidence that the candidate reached out to current students or alumni of the program to learn firsthand about the school’s culture, academic programs, student clubs, internship opportunities, and more.

Most graduate programs are described on their websites, and applicants are apt to quote from this information to persuade an admissions committee that this is their top-choice school. The applicants who make the effort to reach out to those who experienced the program are more likely to uncover details that relate to their personal and professional goals. And its that effort and those details that end up being much more convincing to the adcom. In the process of connecting with others, applicants can gain valuable insights and even good leads that can jump-start their success upon arrival to campus.

For example, you are working as a technology consultant in India and don’t personally know anyone at the U.S. schools where you are applying. On the school’s website, you can usually find a list of student clubs, and oftentimes, the club officers and contact information are also listed. You can send an email to these individuals asking if they would be willing to speak to you about the club activities and answer other questions you have about the school. If the officers are all too busy to speak with you, ask to be referred to another club member. There may be a university alumni club in your country. You can also reach out to the alumni club’s representative and ask if he or she knows of recent graduates with whom you can speak. If these efforts fail, ask the admissions office to assist you with student or alumni referrals.

Go beyond the information on the school website
Many international students cannot afford the time or investment it takes to visit U.S. or European campuses. Therefore, it is even more important to make that extra effort to connect with campus officials, students, and alumni. In doing so, you’ll be learning inside knowledge that you can then use in essays and interviews that show that you truly care about the program and are a match that they should seriously consider.

Connections count – start making yours now.

We can help you fine-tune your application so that it shows your deep understanding of yourself and of the programs you’re applying to. Check out our Admissions Consulting Services for more information on how we can help you get ACCEPTED.




With 30 years of career and admissions experience at four universities, including Cornell’s College of Engineering and Johnson Business School, Dr. Karin Ash facilitated students’ entry into the world’s best companies. As a member of the adcom she also evaluated applications; she knows what schools and employers seek. Want Karin to help you get accepted? Click here to get in touch!
 

Related Resources:

• Fitting In & Standing Out: The Paradox at the Heart of Admissions, a free guide

• How LinkedIn Can Help You Get Accepted

• Analyzing Your Skills Before Applying to Graduate School

Tags: College Admissions, Grad School Admissions, Law School Admissions, MBA Admissions, Medical School Admissions

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Accepted MBA Updates   22 Jan 2019, 10:01
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FROM Accepted.com Blog: Michigan Ross MBAs, Entrepreneurs, & Founders of Bschool Travel



Interview with Dale Jarosz & Dhruv Dhawan, MBA Students and Founders of Bschool Travel [Show Summary]
Two Michigan Ross MBA students launched their brand new business, Bschool Travel while attending the Michigan Ross School of Business. Let’s learn how these two very busy MBA’s managed to start and run a business while attending a demanding MBA program. Actually we’ll also discover how the Michigan Ross MBA program and Zell Lurie Institute helped our guests get Bschool Travel off the ground. Listen in for their fascinating story!

Michigan Ross MBA Students Talk About Admissions, Business School Life, and Founding a Company [Show Notes]
Both our guests today are members of the Michigan Ross class of 2019 and the co-founders of Bschool Travel, which we’ll learn about in a few minutes. Dale earned his bachelors in mechanical engineering from Univ. of Illinois at Urbana-Champaign in 2012 and then worked for Caterpillar for five years before coming to Ann Arbor. Dhruv Dhawan graduated from UC Irvine with a BBA and then headed into public accounting for a couple of years followed by a three-year stint as Director of Marketing and Operations for a health supplements company. With that as background, let’s hear about their MBA experience at Ross and the founding of Bschool Travel.

Can you tell us a little about your background? Where you grew up? What you like to do for fun? [2:16]
Dhruv: I’m originally from Los Angeles, but went to international high school in India before returning to go to UCI. I worked in public accounting for a few years, but decided I wanted some more operational experience so I transitioned to my family business, Health Plus Inc., where I learned a lot. My true passion is travel, and I like to get on a plane whenever I can. Basketball is also a big part of my life. I’m a huge Lakers fan.

Dale: I grew up outside of Chicago, I was really involved in sports growing up and engineering-related fields. My dad is an engineer and I followed in his footsteps. I went to Caterpillar to work in product development and innovation which got me interested in being an entrepreneur. My family also has a business so I came to Ross really focused on entrepreneurship. Dhruv and I met during the interview process and said we should start a company, and now we’ve actually done it!

What was hardest part for you in the MBA application process? How did you handle that element? [4:46]
Dale: I think the hardest part is honing in on your story in the essays, connecting the dots and having the vision for where you want to be afterwards. As an entrepreneur I didn’t know what company I wanted to start and in what industry, but that doesn’t cut it for a story, so I really sat down to think about what industry I would fit and overall what mattered most. Once I did the reflection it was very informative.

Dhruv: My answer is similar but different. I had worked in my family business, so had non-traditional experience, and I made it more of a challenge than it needed to be. Since I had already experienced entrepreneurship I really needed to know if it made sense that I want to be an entrepreneur. I had to sit down and reflect, figure out why I wanted an MBA, and what I needed to be successful as an entrepreneur that I didn’t have before.

Is Ross meeting your expectations? [7:59]
Dhruv: My expectations have been exceeded in every way. I wanted to leave California and maintain a strong network, and the strength of the network is great. The support with our new business has been amazing. Whether it be from customer discovery, or introducing us to students at other schools, or whatever! I mentioned that strategy was an important component for my education, and the strategy classes and professors have been fantastic so far.

Dale: I echo everything Dhruv said. Coming into business school I talked to several students. Many were going into traditional career paths. I knew those resources would be available, and had low expectations for resources for entrepreneurs. The Zell Institute is amazing. There are fellows there 24/7, and it provides an incredible springboard. Ann Arbor also has such a strong entrepreneurial environment. There are lots of investment dollars, incubators, and it is just such an amazing place to come and dive deep into the community.

How did you come to choose Ross? [10:25]
Dale: I was deciding between a few schools – Duke and UCLA. A lot of people bring in the weather aspect, but for me that wasn’t an issue. The seasons bring a pleasant change of pace to the academic experience. I narrowed down by the strength of entrepreneurship programs and Michigan was just so strong. I am also a huge sports buff, and it’s a really cool environment for that. Also it’s not in a huge city, so it’s a more cohesive environment.

Dhruv: I had three main criteria: I didn’t want to be in a large city, I wanted a global network strong in California, and entrepreneurial excellence. When I went to Ann Arbor for my interview it just felt right. Going out, exploring, walking around in nature – it made the decision easy.

What would you like to see improved? [13:06]
Dale: University of Michigan is incredible with how many top graduate programs it has, with one of the best law schools, best medical schools, engineering schools, etc., and there is so much great innovation. I would really like to see more collaboration across schools. Our business experience would be above and beyond what it is today.

Dhruv: This may seem trivial, but the space sometimes seems too small. It can be challenging to find study rooms. And also a separation of the undergrad and grad programs in terms of building space would be helpful.

What did you do for your MAP project? How was the experience? [15:07]
Dhruv: I traveled to Peru in the foothills of Machu Picchu. I was working in a healthcare nonprofit which provides training and medical treatment in the Andean Mountains to create a sustainable business model for them. They had tour groups coming in and we wanted them to commercialize that to take advantage of the tourism industry. The experience was incredibly rewarding. I used a lot of the learnings in my internship.

Dale: I was in South America as well, working for a startup company in Brazil. The mission and vision was to bring smart capital access to start ups in developing countries, helping to connect entrepreneurs with investors through a digital platform. I got to do discovery, met with incubators, and it helped reiterate why I wanted to be an entrepreneur. Regardless of location, you’ve got that “Grind it out” mentality, and it reenergized me to work on my own venture.

Dale, you worked at Caterpillar for five years, working for an enormous organization. How did you know you wanted to be an entrepreneur? [18:01]
Similar to Dhruv, my grandpa had a business as well, so entrepreneurship was part of the family. For me, working in a corporate setting with all the bureaucracy and red tape made me realize it wasn’t for me. I wanted more autonomy in my lifestyle, and the traditional 9-5 white collar job wasn’t the right fit. I knew business school would be a two-year, failsafe opportunity to start a company, and if it didn’t work I would have a top MBA and be able to find a job. I was really excited to dive in.

Tell me about BSchool Travel? How did it start? [19:21]
Dale: Travel is one of my biggest passions. We each came in with our own ideas we wanted to try out. We discovered our ideas were feasible but would require a lot of capital and venture fundraising, which we didn’t have time to do as students. Through MTrek, which almost 90% of students do, we dug into the industry and saw it was very fragmented with no dominant player in group travel. The per unit price is high so you could scale quickly and grow revenue, and we also noticed a lot of consolidation going on as well. It just seemed like a good industry to be in. We knew we could get in and execute better than others as far as the experience given that we had the MBA feel and touch. We started with a manual process to develop itineraries. As we got traction we’ve been improving the overall process.

Dhruv: The seed was planted in the summer of 2017. There is an amazing impact challenge for incoming students and we were hanging out at Dale’s apartment. I had noticed hotels didn’t seem up to par for what we were paying. Dale’s trip was half the cost of the one I was going on, so we saw there was definitely a need.

How has your Ross experience or education helped you in launching Bschool Travel? [22:38]
Dhruv: The most important aspect has been the Dare to Dream program, a three phase grant program. There are two aspects to it – one is financial and the other is a series of workshops/education to get the grant. Venture shaping required us to do 25 customer discovery interviews. Once you test that you get $500. When you do financial feasibility you get $1,500. Once you launch your business you do a 20-page business plan and you get $5,000. We’ve also been accepted to the Zell Entrepreneurs Program between Ross, Kellogg, and IDC in Israel. It is a mentorship group, we travel to Israel, and we get to pitch to Sam Zell, which comes with a $10,000 grant.

Dale: Another is one of the student-run venture funds. Being able to sit on the other end of the table and understand what a good and bad startup looks like has been helpful in my own entrepreneurial experience. One other thing I would add is courses available for entrepreneurs are great. New Venture Creation is one example where the deliverable is to pitch to the class and they decide whether to invest. It required us to do pro forma financials, which was a great learning experience. Another great course is Entrepreneurship via Acquisitions, and was really helping in learning about other vehicles of entrepreneurship other than from the ground up.

How do you manage b-school and Bschool Travel? [26:10]
Dale: It is very time consuming, but we both stay up really late which helps. A lot of the suppliers we work with are international, so time zone differences require us to stay up late anyway. Really leveraging the support from Ross is important. I’ve accelerated my coursework so I only have 2.25 credits left so I am essentially graduating early so I will have tons of time to focus on the business these next few months.

Dhruv: At the end of the day it comes down to do you really want this and is it your priority. You might miss out on a football tailgate or an evening at the bar, but it is so worth it. Not having to worry about recruiting really did open us up. This is the number one priority right now, and we hold each other accountable.

Dale: It’s incredible finding a partner as well. Having someone to hold you accountable, or when one of us is busy to rely on the other has been incredibly helpful to launch a business.

What exciting trips do they have planned for this summer? [29:17]
Dale: In a week and a half there is a Wharton trek all across India with 68 students, where we are providing all kinds of unique experiences that we were able to set up with Dhruv’s connections. With Ross we are offering a Japan, China, India, and Korea Trek and a preMBA MTrek experience. We are also working on a Stern trek to Vietnam with 35 students. We are in the planning phase with MIT, and working with several other universities.

Dhruv: Internationally we are working with HEC Paris on corporate treks. Rather than doing something on a leisure basis, they are going to Singapore to meet with companies. We are also working with universities in India and China to replicate that model.

Are you offering group tours to schools, or offering to individuals tours they can join, or both? [31:28]
Dale: We are offering primarily group travel for schools. We work with school club leaders, like the Indian Business Association will contact us, for example. We are also offering cross-MBA treks to incoming students who might otherwise go backpacking. Their friends might not have the luxury to go on a trip with them, so it is an opportunity to meet other incoming students and travel, which they are likely to do anyway, more on a leisure basis. We are also doing corporate treks to the west coast for tech companies and New York for meeting with banks, so there is no need to be a part of a group to do that.

What are your plans for the future? What if someone who is not a b-school student wants to go on one of your treks? [33:27]
Dhruv: We identified this market in the bschool area to start with since we were familiar with it, but the higher ed travel industry is $64B and student travel is $320B, so we want to be a group travel platform for students. For leisure-based trips we are thinking of making cross-disciplinary treks as well, providing cross-functional networking opportunities for the world we live in today.

You ever think of having treks to business school? [36:43]
Dale: We met with an admissions coach in Singapore and we are thinking of launching a trek to visit top business school programs in the U.S., and incorporate sightseeing along the way.

What was the most memorable travel experience you’ve had personally? [37:53]
Dhruv: For me it was to the Galapagos Islands, sophomore year in college when I went with family. We stopped by the different islands, and being a science nerd it was mesmerizing the untouched, marine life, iguanas; I want to go back.

Dale: I went to a friend’s wedding in the south central part of India, and it was the most culturally different experience I’ve ever had. The wedding was five days long and being immersed into the culture was incredible. The food was amazing and overall different experience.

What would you have liked me to ask you? [39:49]
Dhruv: I’d say, what was my most impactful class at Ross, which was Entrepreneurial Turnaround Management for MBA2s. You take a case on a distressed company and need to make a plan to turn it around. In the midst of the course I wasn’t sure how much I was getting out of it, but when it came to the final and all the elements came together it all clicked, and the seven weeks changed my way of thinking in looking at the company. It provided me with a true general management mindset.

Dale: A lot of your listeners are potential clients of ours, so how can they learn more about bschool travel and get ahold of us? Go to bschooltravel.com, where you can check out corporate treks, leisure treks, and if you already have a group in mind, we do custom travel for individual groups. We are offering scholarships for one of our trips this summer and are always looking for new students to connect with. We like to build out our network, so feel free to reach out to us with any questions on our business or business school.



Related Links:

• Navigate the MBA Application Maze: 9 Expert Tips to Getting Accepted, a free guide

• Michigan Ross MBA Essay Tips & Deadlines

• Accepted’s Admissions Consulting Services

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• Michigan Ross MBA: It’s About REAL, Clear, and Teamwork

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The post Michigan Ross MBAs, Entrepreneurs, and Founders of Bschool Travel [Episode 295] appeared first on Accepted Admissions Blog.
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