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28 Jun 2016, 11:01
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| FROM Accepted.com Blog: Accepted’s Selectivity Index: Are You Asleep When You Apply? |
  I recently heard a story about a gentleman who was about to purchase a certain piece of land with the intention of building a school on that property. It was wartime, and the theater of war was rapidly approaching the region in which he and the property were located. A friend heard about his intended investment, and thought his friend had gone nuts. “How can you make this purchase now? Are you dreaming?” he asked incredulously. Replied the real estate investor, “I am dreaming, but I am not asleep.” Although I heard this story in a context far removed from graduate school admissions, I couldn’t help but think that some of you are “asleep” when you apply – at least the first time. Dreaming while asleep in admissions: • Applying exclusively to schools where you are not competitive based on the stats and available information. • Focusing on the one metric where you are either very strong or very weak. Focusing on the one number that either makes you feel great or makes you feel terrible is another form of “applying asleep.” In either case, you fail to choose schools realistically and consequently “invest” poorly in your overall application effort. • Ignoring weaknesses when applying so that you fail to address or mitigate them. Applying “awake” while still allowing for your dreams means that you assess your competitiveness at your target schools by comparing your test scores and grades as well as the non-quantitative factors in your profile to the known stats and stated criteria of the schools you want to attend. Armed with this information, you: • Apply to a few “dream” schools, but mostly to programs where you are competitive. • Assess your weaknesses or strengths in the context of your overall application so that you neither obsess over a weakness nor fail to provide positive reasons for acceptance. • You work to mitigate weaknesses before and during the actual application process while highlighting strengths and creating a strong case for acceptance beyond the stats in your application. A few of you may be thinking: “I know my chances aren’t great at my target schools. But I’m working and making good money. It doesn’t pay for me to apply to any but these schools.” There are some applicants in this situation. It’s true, but there are very few. If you’re one of them, you are applying rationally. If you aren’t one of them and you could achieve your goals at programs where you are competitive, then well, you may be dozing… Introducing the Selectivity Index® Accepted has developed a new tool, the Selectivity Index®, to help you apply realistically and effectively. The Selectivity Index takes the most recent US News rankings data and reflects the schools’ average GPA, test scores, and acceptance rates so that you can assess the relative difficulty of acceptance. You can also order the schools by average test score, GPA or acceptance rate.   We focused on those key metrics not because they are solely determinative, because they are not, but they do mirror how difficult it is to gain acceptance to a school. They also suggest which schools may be focusing on a particular metric and which may not. Weaknesses in the Selectivity Index: 1. It doesn’t reflect non-quantitative information, which plays a significant role in holistic admissions and can allow those with non-quantitative strengths to get in when those “more qualified” per the stats are rejected. 2. In doesn’t reflect the schools’ desire for diversity in their classes and community. 3. It doesn’t reflect the importance of showing fit with an individual school’s strengths, mission, and values. I’m not sure if this is a strength or weakness, but the Selectivity Index does not measure or reflect ROI, educational quality, or career opportunity. Finally, while the Selectivity Index does reveal the relative level of competition at different programs, it doesn’t excuse you from making sure that the schools where you are competitive also will help you achieve your goals. It does you no good to get into a program that won’t that won’t help you achieve your goals and realize your dreams.  Related Resources: • Linda Abraham’s Admissions Assortment • 6 Tips for Talking About Your Weaknesses • Should You Apply to a Safety School? Tags: Law School Admissions, MBA Admissions The post Accepted’s Selectivity Index: Are You Asleep When You Apply? appeared first on Accepted Admissions Consulting Blog. |
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29 Jun 2016, 09:01
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| FROM Accepted.com Blog: AIGAC 2016 Take Aways |
  I’d like to share some conference “takeaways” from the Association of International Graduate Admissions Consultants (AIGAC) meeting in Cambridge, Massachusetts earlier this month. Held at MIT Sloan with visits to HBS, Tuck, and Babson and with presentations by representatives of Wharton, INSEAD, Georgetown, Carnegie Mellon, Haas, Vanderbilt, Darden, Rotman, Yale, UCLA, Columbia, McCombs, IESE, LBS, and Stanford, there were many information highlights. • An MIT professor has coined the current student population as Generation “S.” One-third of MIT students take three or more electives in sustainability. • Another MIT professor describes true entrepreneurs as innovation drivers – their companies interact with global markets, they produce products for export, and they have a sustainable competitive advantage. It is these companies that can transform an economy. • MIT experienced a 35% increase in applications last year. • MIT’s Master of Finance Program currently has 120 students, 40% women, 80% International, and 80% directly from undergrad. In contrast, the MBA program has 400 students of which 40% are women, 40% international, and students have an average of five years full-time experience. It was discussed that there are four levels of listening during an MBA interview: 1. Cosmetic listening: This is when you’re not really listening. The mind is focused elsewhere. This sometimes occurs when interviewees are nervous or focused on giving a memorized response. 2. Conversational listening: This listening occurs when you’re engaged in conversation, listening, talking, thinking. An interviewee might actually miss the real point that the interviewer is trying to make because they are too focused on planning and giving their reply. 3. Active listening: During active listening, you are very focused on what the other person is saying and attuned to what is happening. During an interview, an interviewee will use paraphrasing and rephrasing to ensure understanding. 4. Deep listening: This listening is more focused on other, rather than self, where the listener is aware of both content and the overall situation. As an interviewee, it allows you to think more strategically about the interaction. Here are a few tidbits from the AIGAC Survey results of 1,114 applicants for 2017 enrollment: Expectations of applicants: • Nearly half of the applicants expect a 50% increase in income • 56.2% seeking to advance career • 55.6% seeking better job prospects • 51.1% seeking to broaden their professional network The influence of admissions consultants: • 32% said consultants advised to earn a higher GMAT prior to applying • 29% applied to schools not previously considered • 27% applied to more schools than originally planned • 16% applied to higher ranked schools • 15% applied to lower ranked schools How applicants selected schools: • 74% reputation • 46% location • 48% impact on career • 38% culture of school • 36% career placement statistics • 35% alumni network • 32% global programming • 30% scholarship The most challenging application components: • 61% standardized tests • 46% essays • 20% interview • 18% letters of recommendation • 16% video submission • 3% group exercise There was consensus that most MBA schools accept either the GRE or the GMAT. However, some employers post-graduation prefer the GMAT (investment banking, consulting). Taking the GMAT is encouraged if the first-time practice score is fair and the applicants feel confident they can move “fair” to “good” or “competitive” for their target schools. More schools are using application software that informs them whether the applicants wrote their own letter of recommendation (often at the request of the recommender). It is important to find recommenders that are willing to write a recommendation on your behalf. Applicants ranked the following in order of how well a school got to know the applicant through the admissions process: 1. Tuck 2. IE 3. Kellogg 4. Duke 5. Cornell 6. Booth 7. IESE 8. Tepper 9. U of Toronto 10. Insead 11. Oxford 12. U of Texas Attending AIGAC was an opportunity to learn more about some of the schools our clients are interested in. It also provided time to network with other consultants from many areas of the world to share insights on the factors resulting in successful admissions applications. I’d be delighted to share with you one-on one not only what I gleaned from the conference, but the lessons learned over thirty years in university and MBA career services and administration.    With 30 years of career/admissions experience at four universities, including Cornell’s Johnson School, Karin 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. Related Resources: • Navigate the MBA: 9 Tips to Acceptance, free guide • 6 Secrets to a Successful MBA Interview • Top Business School Zone Page Tags: MBA Admissions The post AIGAC 2016 Take Aways appeared first on Accepted Admissions Consulting Blog. |
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29 Jun 2016, 10:00
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| FROM Accepted.com Blog: NYU Stern to Offer a New FinTech Specialization in the MBA Curriculum |
 Beginning in fall 2016, NYU Stern’s full-time and part-time MBA students will be able to choose FinTech as a specialization and take electives from a curriculum of eight new courses. This is a first among top business schools. In last week’s press release, Raghu Sundaram, Vice Dean of MBA Programs and Online Learning, says: “Technology continues to transform the business landscape at a breathtaking pace. Business education needs to innovate to keep pace with the rapid rate of change. The launching of the FinTech specialization, a joint creation of our Finance and Information, Operations and Management Sciences (IOMS) departments, is an important step in this direction.” Professor of Information Systems and one of the Academic Co-Chairs of the specialization, Alexander Tuzhilin, adds: “FinTech is about how modern information technologies are disrupting the financial services industry. Stern has combined its considerable strengths in both finance and technology to create courses that discuss how these two areas blend together to enable new business models, innovations and opportunities.” Courses in the new FinTech specialization will focus on areas including data management; trade strategies; risk management; mobile payments; financial data analytics; transaction security, and trade clearing and settlement; regulation and the impact of digital currencies on the financial services industry; and entrepreneurial crowdfunding. FinTech will be one of the more than 20 specializations now offered in the NYU Stern MBA curriculum. NYU Stern faculty are presently doing research in FinTech, with a new FinTech faculty seminar series taking place this summer to encourage discourse about the subject. Stern faculty will also facilitate a Design Sprint challenge, a one-day event in and around the New York City community which will inspire innovators to think disruptively about the future of banks. The school will hold a FinTech conference on November 9, 2016, with the keynote being delivered by Stern alumnus and CEO of PayPal, Dan Schulman.  Related Resources: • The Facts About Financial Services • NYU Stern 2016- 17 MBA Essay Tips & Deadlines • Contemplating a Career in Data Science/Business Analytics? Tags: MBA Admissions The post NYU Stern to Offer a New FinTech Specialization in the MBA Curriculum appeared first on Accepted Admissions Consulting Blog. |
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