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monkeymadness
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 03 Dec 2014, 10:13
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You can prep an interview in person. i.e. the Why MBA question. If I had to guess the purpose of the video essay:

1, Can you speak without stumbling around (all Kellogg students can speak really well if you have not noticed)
2. Can you communicate effectively (not rehearsed)
3. Potential interview filter
4. Allows the application reader to put a face to the application
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 03 Dec 2014, 10:24
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monkeymadness
You can prep an interview in person. i.e. the Why MBA question. If I had to guess the purpose of the video essay:

1, Can you speak without stumbling around (all Kellogg students can speak really well if you have not noticed)
2. Can you communicate effectively (not rehearsed)
3. Potential interview filter
4. Allows the application reader to put a face to the application
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Agreed, but once you've determined #1 and #2, why else would you keep watching?
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 03 Dec 2014, 10:25
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monkeymadness
You can prep an interview in person. i.e. the Why MBA question. If I had to guess the purpose of the video essay:

1, Can you speak without stumbling around (all Kellogg students can speak really well if you have not noticed)
2. Can you communicate effectively (not rehearsed)
3. Potential interview filter
4. Allows the application reader to put a face to the application

Agreed, but once you've determined #1 and #2, why else would you keep watching?
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Multiple application readers is the only thing I can think of. Or #4.
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EndGame
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 03 Dec 2014, 10:34
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monkeymadness
You can prep an interview in person. i.e. the Why MBA question. If I had to guess the purpose of the video essay:

1, Can you speak without stumbling around (all Kellogg students can speak really well if you have not noticed)
2. Can you communicate effectively (not rehearsed)
3. Potential interview filter
4. Allows the application reader to put a face to the application
Show more

I doubt you can call it " not rehearsed". The list of questions they ask is readily available over the network. My questions were per expectation . Additionally you get 20 sec to prepare for the V Essay . To me a face to face interview is more impromptu, specially with schools throwing in those behavioral questions these days. Anyway, the fact that it changed thrice after my face to face is what beats me .As someone pointed out on this forum before, It could well be a technical snag.
If only the adcoms knew how much we love chewing over thee date changes ...haha
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 09:00
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FROM Kellogg MBA Blog: Compound interest and loan sharks

First-year student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts here.

We recently discussed a segment on CBS regarding payday loans in our accounting class. CBS discussed a payday loan organization that charged a biweekly interest rate of 15%. They spoke about how outrageous this was. In their estimation, this meant the lender was charging customers an interest rate of 400%.

But let’s look at the numbers.

The first step is to spend a minute understanding compound interest. Every great personal finance book starts with requesting the reader appreciate the beauty and power of compound interest. So, here we go.

Let’s imagine you have a principle amount of $10 growing at 10% compound interest per year. That means:

  • At the end of Year 1, you have interest of: ($10 x 10%) = $1
  • At the end of Year 2, you have interest of: $1 + ($10 x 10%) + ($1 x 10%) = $2.1
That little snippet describes what makes compound interest special. In the first year, you earn $1 on the initial $10. But, in the second year, you not only earn the $1 on the $10, you also earn an additional $0.10 on the $1 you earned last year.

  • At the end of Year 3, you have interest of: $2.1 + ($10 x 10%) + ($2.1 x 10%)  = $3.31
  • At the end of Year 4, you have interest of: $3.31 + ($10 x 10%) + ($3.31 x 10%) = $4.64
So, over time, it keeps giving you returns on the interest you already have. Substitute these with much larger numbers and a long time period, and you’ll see how quickly compound interest can increase wealth. The formula for compound interest is P (1 + r)^n, where P is the principal, r is the rate of interest and n is the number of time periods.

Let’s go back to the loan sharks now. The rate of interest is 15% and the time period is biweekly. There are 52 weeks in a year, so 26 “biweekly” time periods. CBS’ calculation was 15*26 = 390%, or around 400%. This equates to $400 of interest for every $100 in 1 year.

However, they’ve forgotten that the 15% interest is compounded. That means the lenders also charge the 15% on the interest to be repaid over time. This means we have to think of it in terms of compound interest. The real rate, therefore is (1 + r)^n or (1+0.15)^26 (assuming principal to be 1) = 37.86 or 3,786%. 

If you’ve ever wondered how loan sharks make money, that is how. For every $100 loaned by a loan shark, they get around $3,786 back in a year for a 15% biweekly interest rate.

One final note. Bankers have come under lots of criticism because of the financial crisis. While the industry definitely deserves the sort of scrutiny it has been getting, there was commentary about whether life was better without banks. I think this example illustrates how critical banks are toward progress in society. If we’re complaining about a 20% interest on our credit cards, well, maybe we ought to speak to a loan shark.

Rohan Rajiv is a first-year student in Kellogg’s Full-Time Two-Year Program. Prior to Kellogg he worked at a-connect serving clients on consulting projects across 14 countries in Europe, Asia, Australia and South America. He blogs a learning every day, including his MBA Learnings series, on www.ALearningaDay.com.

Filed under: Academics, Business Insight, Career, Student Life Tagged: 2Y, Accounting, compound interest, MBA Learnings, Two-Year MBA Program
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 09:22
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Just to add stats to the thread:
I submitted application on September 24th (MBA/JD)-
Received an off campus interview email on October 1st-
Interviewed on October 13th with an alum.
My video dates have changed on 10/30 to 11/24 to 12/02.

Good luck to all!
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FROM Kellogg MBA Blog: How Kellogg applicants are assessed – Part 3

When Kellogg admissions officers review an application, they evaluate potential students based on six categories. Here, Beth Tidmarsh, director of admissions for Kellogg’s full-time MBA programs, demystifies what happens once you submit your materials and helps you think about how to formulate the story that will help the admissions team learn more about you.

TODAY’S TOPIC: PROFESSIONAL GOALS

PREVIOUS TOPICS: Intellectual ability, Work experience

Ask any alum, and they will tell you that Kellogg was a pivotal point in his or her career. With your work experience, you’ve told us what’s led you to Kellogg. Outlining your professional goals will help us understand how a Kellogg MBA will bridge your past and future together.

Since there many different candidates drawn to Kellogg, your reason for pursuing an MBA will be unique. Some applicants have a specific idea of how an MBA will help them grow within an industry they know already; others want to pursue a significant career pivot, while still others have more general long-term goals while remaining open to many paths that might take them there.

The MBA program will expose you to a lot of great things to help you crystallize that path, but due to the nature of our programs, a lot starts happening very fast. (Have you heard about pre-term? We don’t waste a day getting you engaged.) Your time at Kellogg is going to fly by – and you are going to want to make the most of it by giving some serious thought for your reasons for pursuing an MBA. If you arrive without a clue what direction you’re headed, you’ll get overwhelmed pretty quickly. Knowing that our applicants have thought about the deeper reasons behind pursuing this degree — why they’re doing it, where they’re trying to go, how this education and their career fit together — helps students to hit the ground running once they arrive on campus.

This is not to say that our students know everything about what they want or where they want to go on Day 1. Kellogg has many opportunities for you to explore and discover, but no student can tackle everything we offer. Our Admissions officers are checking to make sure you’ve got a plan in mind. We understand the plan may change over time, but do think about what areas and opportunities you would focus on if you were starting our program today.

The most important factor in this case is honesty, both with yourself and within the application. Forget what you may think about what kinds of aspirations will impress an admissions officer: this is about your goals and your development.

We want to see a clear narrative that explains why you want this MBA. No answer is wrong, so feel free to talk openly about how this program and community will help you achieve that goal.

Read Beth Tidmarsh’s previous series on “Tips for applying to Kellogg”

Beth Tidmarsh ’03 is the director of admissions for full-time MBA programs at the Kellogg School of Management at Northwestern University. As a vice president at Jones Lang LaSalle, she led and executed tenant representation and corporate solutions work for companies such as Xerox, KPMG and Huron Consulting Group. Prior to attending Kellogg, Beth spent six years in consulting for Accenture based out of Chicago and Sydney.

Filed under: Admissions Tagged: 1Y, 2Y, admissions, admissions tips, application, applications, Beth Tidmarsh, full-time MBA programs, JDMBA, Kellogg experience, MMM, One-year, One-Year MBA Program, professional goals, prospective students, Two-Year, Two-Year MBA Program
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 13:33
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saraviamario
Just to add stats to the thread:
I submitted application on September 24th (MBA/JD)-
Received an off campus interview email on October 1st-
Interviewed on October 13th with an alum.
My video dates have changed on 10/30 to 11/24 to 12/02.

Good luck to all!
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Also an MBA/JD here...and also changed to 12/02.........
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 14:21
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Mine hasn't changed since Nov 8th ....
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 15:25
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Any 1 YR MBA date changes out there?

10/17 interview
10/20
10/23
11/28 (which seems odd)
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 15:54
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Mine says 11/28 too. My video is constant weekend entertainment??
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 16:00
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bml1105
Mine says 11/28 too. My video is constant weekend entertainment??
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11/28 is a Friday Night flick. I feel good about your chances! :-D
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 17:01
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Haven't watched my video essay since 11/6. I totally bombed the video essay. Per usual I waited until the last minute during a rough couple weeks at work. I didn't realize that there were no re-dos this year (as I had read the instructions over the summer prior to the new application). Needless to say I didn't like my answer... paused, said "****" on camera, and went to redo it. So basically I have half of a stupid answer and then I swear in the middle of my essay. I did interview extremely early so maybe they have already reviewed everything a million times.

Pretty sure my best case scenario is a WL which will eventually turn into a spot in the part-time program. Needless, to say I'm not exactly counting down the days during the next two weeks.
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 17:06
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burningcole
Haven't watched my video essay since 11/6. I totally bombed the video essay. Per usual I waited until the last minute during a rough couple weeks at work. I didn't realize that there were no re-dos this year (as I had read the instructions over the summer prior to the new application). Needless to say I didn't like my answer... paused, said "****" on camera, and went to redo it. So basically I have half of a stupid answer and then I swear in the middle of my essay. I did interview extremely early so maybe they have already reviewed everything a million times.

Pretty sure my best case scenario is a WL which will eventually turn into a spot in the part-time program. Needless, to say I'm not exactly counting down the days during the next two weeks.
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I really think the video essay is a small part of their decision. If you had a good interview, they'll know you can handle yourself well. Additionally, I'm sure they realize how stressful and how easily mistakes can be made on the video essays. Don't give up hope!!

P.S. I have to admit that your story made me smile. If I was an adcomm, I would definitely watch your video multiple times!
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 17:08
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Mine is showing 11/25. Are you guys seeing a history of updates or just keeping track?? lol
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 17:56
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Haven't watched my video essay since 11/6. I totally bombed the video essay. Per usual I waited until the last minute during a rough couple weeks at work. I didn't realize that there were no re-dos this year (as I had read the instructions over the summer prior to the new application). Needless to say I didn't like my answer... paused, said "****" on camera, and went to redo it. So basically I have half of a stupid answer and then I swear in the middle of my essay. I did interview extremely early so maybe they have already reviewed everything a million times.

Pretty sure my best case scenario is a WL which will eventually turn into a spot in the part-time program. Needless, to say I'm not exactly counting down the days during the next two weeks.

I really think the video essay is a small part of their decision. If you had a good interview, they'll know you can handle yourself well. Additionally, I'm sure they realize how stressful and how easily mistakes can be made on the video essays. Don't give up hope!!

P.S. I have to admit that your story made me smile. If I was an adcomm, I would definitely watch your video multiple times!
Show more

I would agree with you. I would suspect it is more important for international applicants from overrepresented demographic pools. It provides a piece of data on English speaking ability (and accent). Additionally, it lets them judge you based on appearance. Right, wrong, or indifferent, you're probably better off being good looking than having a good answer for the video essay.
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 18:02
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bml1105
Mine says 11/28 too. My video is constant weekend entertainment??
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Mine still says 11/19 (changed thrice before that!) So I didn't make it! :?

-> I mean my video didn't make it to the Friday (the 28th) Short-film festival :cry: :cry:
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 18:30
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I don't get it. What's so special about the 28?

Posted from my mobile device
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 19:26
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monkeymadness
I don't get it. What's so special about the 28?

Posted from my mobile device
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haha nothing. We were just joking about our video essays being weekend entertainment and the Friday night specials. As far as we know, multiple views could be a fantastic sign or a horrible sign.
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! 04 Dec 2014, 20:21
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bml1105
My doubt comes from why they would need to look at the video essay so many times. A couple times makes sense. But they are pretty short and the questions weren't that revealing. It seemed like more of a way to see if you can reasonably present yourself. Once they check the box, what's the point of continuing to watch.
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I'm completely over-analyzing this, but at least one person mentioned that he/she was able to get the video essay date to change just by playing around with the application. The date changes clearly aren't random, but they might not be limited to a viewing of the video essay, or even have anything to do with that at all.

I think the initial date change that everyone has observed within a week after the interview might be when your interviewer uploads their report to your file.

Anyway, mine still hasn't budged from Oct. 30.
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GMATNinja
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