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Photo by Markus Spiske on Unsplash

When considering and selecting an MBA program, having clear professional goals is vital. For those considering a career in Finance, especially Private Equity (PE) or Wealth Management, a top MBA program may help you attain a job in the highly competitive sector and enhance your professional profile.

Not all MBA programs are created equal – even among the top 20 - so pay close attention to the opportunities and exposures they provide and select a program that will best help you on your path. To help you on the selection process, we have taken a closer look at five (5) top MBA programs - Wharton, NYU, Booth, Columbia, and UCLA Anderson.  

WHARTON -FNCE MBA



Image Source: Wharton

To many, especially in the industry, Finance and Wharton are synonymous. Although Wharton has diversified its student body, Finance is among the top three concentrations of the degree program. The extensive list of coursework offered in the concentration is specifically structured to expose students to a wide range of areas within finance. While they provide courses like Investment Management, Corporate Finance, Real Estate Investment, Private Equity, Fixed Income Securities, International Banking, etc., they do not allow specialization within finance as they believe students benefit most from the breadth of material the program offers.  This structure will enable students to begin a career in finance, whether that be in the financial sector or the finance department.

Wharton boasts a 98.4% placement three (3) months post-graduation. Of those, about 37% accepted offers in Financial Services with Investment Banking/Brokerage and PE/Buyout being the top sectors.  Of the students that received job offers within the United States, New York has been a primary location, and internationally (11% received offers overseas) China is the top country to employ Wharton graduates. Financial service employers that hired Wharton MBA graduates include, Bank of America, BlackRock, Capital Group, Credit Suisse, Deutsche Bank, Evercore, GI Partners, Glenmede Trust, H.I.G. Capital, etc.. The median starting salary is $130,000US.

Wharton’s cluster system allows MBA candidates exposure to a diversity of interests, including opportunities to grow their network within finance. Professional clubs include the Blockchain Club, Investment Management Club, PE and Venture Capital (VC) Club, Wharton FinTech, Wharton Impact Investing Partners, Wharton MBA Finance Club, and Wharton Restructuring and Distressed Investing Club. This community puts together conferences, including Finance Conference, Restructuring and Distressed Investing Conferences, etc. where students have an opportunity to connect with alumni and leaders within the industry.  

While the study of the finance concentration is intentionally broad, the variety of outlets allow students the focus and exposure they need to succeed in a finance-driven position, even if their diploma is less specific.

Website: Academics

Application: Apply

Financing your degree: Financial Aid

NYU- STERN SCHOOL OF MANAGEMENT MBA WITH A FINANCE SPECIALIZATION



Image Source: NYU Stern

NYU’s two-year, general MBA offers students the opportunity to select up to three (3) specializations from the 20+ options available. For example, you can earn an MBA with a specialization in Finance to learn how financial markets function, FinTech to gain a macro-level understanding how AI and machine learning can disrupt the sector, and Strategy to move the business forward.  The plethora of specialization offerings presents the opportunity to be as creative as you foresee the future and the industry will need you to be, which is in line with NYU’s reason d’être.

In addition to the MBA with a specialization in finance, Stern also offers a dual degree, MS in Mathematics in Finance/MBA. This 72-credit dual degree consists of courses divided between Stern and NYU’s Courant Institute of Mathematical Sciences and takes 2.5 years to complete. The MS in Mathematics in Finance/MBA may be particularly appealing for those interested in quantitative risk and portfolio management, like those interested in working in Exchange Traded Funds (ETFs) or Hedge Funds, for example.

Stern’s MBA class of 2018 boasts a 95.4% student placement within three (3) months of graduation. The strength of their career services office is evidenced by the fact that 82% of offers received were school facilitated – either an offer accepted from internships sourced by Stern or on-campus interviews. About 34% of the class received offers in Financial Services, with significant focus in investment banking. Companies with a significant presence include Credit Suisse, J.P. Morgan Chase, and Citigroup.

NYU’s MBA candidates with finance specialization also have the opportunity to gain first-hand experience in portfolio management and analysis with funds like, Michael Price Student Investment Fund ($1.8M AUM),  NYU Impact Investment Fund (NIIF), and Rosenwald Global Value Fund, as well as being part of MBA Investment Impact Network & Training (MIIT).

In addition to learning first-hand how to manage funds, students have the opportunity to learn from industry veterans with the Investment Banking Immersion (IBI), which offers students insights from Citibank experts, participate in IPO pitch, case competitions, or have the opportunity to advise family offices on investing on social and environment impact causes. NYU’s MBA specialization offers students many opportunities to benefit from the school’s central financial hub and develop a profile that is in line with the student’s creative genius.  

Website: Academics

Application: Apply

Financing your degree: Financial Aid

UNIVERSITY OF CHICAGO – BOOTH SCHOOL OF BUSINESS



Image Source: Chicago Booth

With 13+ concentrations, the two-year Booth MBA offers students the flexibility and opportunity to focus their area of study. Similar to Stern’s approach, students have the option to select up to three (3) concentrations and gain more in-depth knowledge in their field of interest. Finance concentrations include Accounting, Analytic Finance, Economics, Economics & Statistics, and Finance. The schools Financial Analytics concentration, for example, boasts about offering the “largest number of advanced finance classes of any business school” and students can gain practical and theoretical knowledge of financial analytics as they pertain to hedge funds, investment banking, risk management, etc. Booth offers a variety of activities exposing MBA students to the world of analytic finance, including Bank Week – where students have the opportunity to network with New York banks, attend information sessions and even sit in at trading desks, for those interested in sales and trading.  

Bank Week is organized by the Investment Banking Group – the largest student organization aiming to educate on all matters of a career in Investment Banking. The Hedge Fund Group and Investment Management Group organize speaker events with a focus on their respective concentrations. Additionally, The Financial Analytics concentration offers a one-day hands-on modeling seminar on Leveraged Buy Outs (LBO). The aim is to create an interactive model that represents three (3) constituents – seller, buyer, and lender – to gain in-depth knowledge of the modeling process. 

The business school’s Finance concentration covers both corporate finance and investments. Through an empirical lens and a culture of learning through “questioning and debate,“ students explore how “businesses raise the capital they need to start and sustain themselves, decide which projects make financial sense, and manage risks; how people invest in companies; and how financial markets work - how an economy allocates money to where it will have the most value.” The Finance concentrations share some community building and professional development initiatives, but not all. For example, in addition to the extracurricular activities available to the Financial Analytics concentration, the Finance concentration is exposed to the Corporate Finance Group, which serves students interested in finance jobs within an organization on their road to CFO. It is highly advisable to commence the program with a conviction about your area of interest within the financial sector, as it relates to the academic choices you must make early in the program.  

Booth also offers MBA labs that lead to hands-on experience. The Private Equity/Venture Capital Lab requires participants to enroll in a spring term course that is followed by an internship at a PE or VC firm. Students are expected to intern for 10-15 hours per week for at least ten (10) weeks. The Polsky Center has relationships with about 90 PE/VC firms enabling a variety of placements.

Additionally, Booth students have the opportunity to gain global experience via the school’s partnerships with various global universities in 20 countries. Students can spend anywhere from a few weeks to a full term in places like Australia, China, or Spain, learning about how business is taught and conducted there, with the aim to broaden perspectives.

About 35% of Booth’s 2018 MBA graduating class seeking employment have gone into Finance roles. The majority of the graduating class received offers in positions for investment banking, PE, and company finance. Major financial employers include J.P. Morgan, Goldman Sachs, and Morgan Stanley. 

While Booth provides students the flexibility to curate their MBA experiences, the program is focused on qualitative analysis and applies a pedagogical style that mixes theory and case studies to teach business methodologies.

Website: Academics

Application: Apply

Financing your degree: Financial Aid

COLUMBIA BUSINESS SCHOOL



Image Source: Columbia University

With its 150 faculty and 100 adjuncts, Columbia Business Schools’ comprehensive core curriculum and its flexible electives allow MBA students to gain in-depth expertise in a particular business discipline. While concentrations are not noted in transcripts, students can opt to indicate fields of focus in their resumes, and the various divisions, programs, and centers allow them to do just that.

Columbia has four (4) divisions that can help MBA students build expertise in the Finance sphere without earning a dual degree. The divisions offer courses for career functions like corporate finance, financial consulting, PE & Emerging Markets, VC, and Value Investing through Heilbrunn Center for Graham & Dodd Investing.

Those students interested in Value Investing have an opportunity to apply for one of forty places in the Value Investing program each year. If accepted, students follow a rigorous curriculum and participate in the 5x5x5 Student portfolio, a student-run value investing fund managing real-time positions.

The PE division serves as the primary point of contact, connecting students with the PE industry. They host a variety of events that promote networking — the Deal Camp’s aim, for example, is to prepare students for job interviews in PE. The Alston & Bird Alumni Discussion Series deals with topics that range from capital raising, portfolio investing and exit.  The PE/VC Club organizes an annual PE &VC Conference that boasts an attendance of 700 guests, including senior practitioners, faculty, students, and alumni to discuss the emerging trends in the industry. The PE program also offers the opportunity for students to participate in the KKR Diversity, Inclusion, and Innovation Competition where students identify and pitch a company as a Leveraged Buyout candidate.

MBA candidates that want to pursue a career in finance have the opportunity to take part in a variety of programs. The program for Financial Studies boasts vital initiatives that include Climate Change and Finance, Financial Markets Regulation, and Future of Banking and Insurance; the Center for Excellence in Accounting and Security Analysis offers independent solutions to issues related to financial reporting and accounting policy; and, the Advanced Projects and Applied Research in Fintech focuses on impact research affecting the industry and society as a whole. The central theme for the 2017-2018 academic year was insurance and blockchain.

Of Columbia’s 2018 MBA graduates, about 27% secured positions with functions in financial services. The median base salary ranged between $125,000 and $160,000, depending on the sector of finance, excluding other guaranteed forms of compensation like sign-on bonus and non-guaranteed performance related bonus. 

Like Stern, Columbia’s central location is ideal for those interested in working in NYC, considered the global financial capital, as it provides a variety of opportunities and exposures for students to gain hand’s on experiences with local organizations. 

Website: Academics

Application: Apply

Financing your degree: Financial Aid

UNIVERSITY OF CALIFORNIA – ANDERSON



Image source: UCLA Anderson

UCLA Anderson’s MBA program structure frontloads the core curriculum classwork allowing students to quickly take charge of their academic experience with specialization by winter of their first year. Anderson offers students the opportunity to choose up to two (2) (out of fifteen (15)) specializations or select electives from multiple specialties to build a tailored elective path. The capstone project allows students to either “research and recommends strategic solutions for some of the top companies in the world,” or, through the Applied Research Management program, launch their own venture.

In 2018, about 23% of Anderson MBA graduates were hired for finance and accounting roles. Those hires crossed a variety of industries including investment banking, investment management, corporate finance, real estate finance, VC, and commercial banking. The median salary for Anderson MBAs is $125,000, and 62% of those students landed a signing bonus averaging $39, 000. Companies that have employed Anderson MBAs include Bank of America, Barclays, Credit Suisse, Citibank, UBS, Morgan Stanley, and Pimco.

Anderson offers three (3) specializations in finance: (i) Corporate Finance, (ii) Kayne Investment Management, and (iii) Accounting. These specializations are organized by The Laurence & Lori Fink Center for Finance and Investment, where MBA students have the opportunity to partner with alumni and financial institutions to gain hands-on experience and new insights about current issues the facing financial world.

The Fink Center for Finance and Investment organizes three significant events: (i) Fink Investing Conference where investment management leaders have an opportunity to connect and educate a wide range of financial industry participants; (ii) The Fink PE Roundtable where South California’s top PE shops lead “powerful discussions illustrating the path to the future of private equity;” and (iii) Fink Credit Pitch Competition where ten (10) MBA teams from across the country “pitch their best credit investment ideas to a panel of distinguished judges.” Anderson students have the opportunity to compete against students at Columbia Business School, Johnson, LBS, MIT Sloan, Tepper, Tuck, Booth, Darden, and Yale.

UCLA Anderson also is home to the Investment Finance Association (IFA) with more than 300 current members who serve as a bridge to “strengthen educational pursuits, facilitate networking opportunities and enhance recruiting efforts among UCLA Anderson students and financial services organizations.” They mainly focus on helping those pursuing careers in investment banking, investment management, corporate finance, and PE.  Events include Investment Banking Career Night, Corporate Finance Career Night, Women in Finance Brunch, Investment Management Roundtable, PE Roundtable, Financial Modeling Excel Workshop, Valuation Modeling Workshop, and Interview Prep Workshop.

Website: Academics

Application: Apply

Financing your degree: Financial Aid

These programs all have a significant influence in the financial sector.  While each of the schools offers a great deal of opportunity to those considering a career in finance, the flavor of each program differs. Do the legwork early and select the program that best fits your goals in order to leverage your skills and enhance your career.  It will allow you to make the most out of your experience and make a profound impact post-graduation. 

This article first appeared onSia Degree Insights Blog.
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The University of
Pennsylvania's, Wharton School once again asks applicants to write two essays
for the 2019-20 application season. Last year, Wharton introduced a new
question for its second essay but has reduced its length limit by 100 words for
this cycle. The reapplicants also have to write an
additional required essay along with an optional essay.

 The admission deadlines and timeline are as under:

Application Deadlines:

Round

Application
Deadline


Interview
Invitations


Decisions

Round 1

September
17, 2019

October
29, 2019

December 18, 2019

Round 2

January
7, 2020

February
13, 2020

March 26, 2020

Round 3

April
1, 2020

April
16, 2020

May 8, 2020

For more
information about applying for the Wharton MBA, visit the Wharton admission website.

Wharton has an
innovative approach to student life. From Wharton's admission website, "Student
life is incredibly rich at Wharton. We have a renewed focus on the community,
so you build strong friendships and networks while maintaining the vast
resources of a large, world-class university in the vibrant city of
Philadelphia." You can visit the campus or their website, to learn
about the culture at Wharton. Knowing about the specific culture of Wharton
would benefit you largely in the admission process.

The Admissions
Committee wants to get to know you on both professional and personal level. We
encourage you to be introspective, candid and concise. Most importantly, be
yourself.

Here is MER’s
analysis of Wharton’s essays:


Essay 1: What do
you hope to gain professionally from the Wharton MBA? (500 words)


Although this
essay is a classic career goals essay, the expectation of the admission
committee sets it apart. You have to think of a  bigger picture, that is, and in a mere 500
words, you not only have to explain your short term and long term goals and the
broad impact you hope to have on your industry, community, or country , but
also  have to illustrate how the skill
set and experience acquired at Wharton will help you fill the gap between your
present career and your long term goals. Please note that the focus of this
essay should not be on your professional history and key accomplishments, but on
your career objectives and your ‘fit’ with the program.

Though the essay
doesn’t ask about your professional history, I suggest providing a brief
account of your key professional experiences that have kindled your ambitions
and given you the clarity regarding your goals. Explain what you hope to achieve
professionally both in the short term and then in the long term.Then
share your present mindset and explain why an MBA at this stage in your career
will bring you closer to your goals. You need to do a self-critique of your
weak points and highlight how the MBA experience can help cement them. The
thought here is to demonstrate self-awareness and resolve to look for
solutions. Try to showcase how a business school can abet you in overcoming
your weaknesses and filling gaps in your skillset.

Then explain how
an MBA from Wharton will help you fill those knowledge gapsand how the resources
and experiences at Wharton will support your goals. You can do this by
conveying to the admission committee that you understand the Wharton community
and what the school offers.Outline how you fit into the diverse Wharton
community. Be specific here and don't forget to demonstrate the fact that you
have a fair understanding of the various resources and offerings at Wharton
that align with your goals. Including specific information from your Wharton
research and linking it to your goals and values is the key here. For instance,
you could talk about how unique educational opportunities, culture, activities,
student clubs and organizations, rich and flexible curriculum and the learned
faculty at Wharton can be a pathway for your goals. The bottom line is making a
case for Wharton.

Essay 2: Describe
an impactful experience or accomplishment that is not reflected elsewhere in
your application. How will you use what you learned through that experience to
contribute to the Wharton community? (400 words)


The admission
committee is looking for candidates who can make an impact while being in
Wharton and later at work while pursuing their goals and in their respective
communities. To begin with, pick any area from your personal or professional
life, any experience where you made a significant impact on your organization
or people or community. Explain what challenges you faced and how you dealt
with those challenges and eventually succeeded in making an impact. You must share
the learnings you gleaned from the experience. As always, I suggest following
the STAR method (Situation, Task, Action, Result) to detail out your experience.

In the second part
of the essay, explain how Wharton community can benefit from your experience.
Your contribution should directly stem from the lessons you learned from that experience.
 You need to show to Ad com what you will
bring to the table as a student and as a valuable alumnus. For instance, you
overcame stress at work by learning meditation or yoga and now you could take
classes and help fellow students to overcome stress. Wharton values teamwork
and diversity and wants a student group that can support each other. So don't
forget to mention how you will also gain in this process.

How to organize this essay:

Impactful
experience or accomplishment – 100-150 words

Learning from the experience – 75-80 words

Contribution to
Wharton – 200 words

Required Re-applicant Essay / Optional First-time Applicant Essay

Explain how you
have reflected on the previous decision about your application, and discuss any
updates to your candidacy (e.g., changes in your professional life, additional
coursework, extracurricular/volunteer engagements).  First-time applicants may also use this
section to address any extenuating circumstances. (250 words)


Wharton is
inviting reapplicants to reflect on their candidacy. If you are a reapplicant,
you need to illustrate here that you have grown and evolved since the last time
you applied. Discuss your enhanced professional qualifications, improved
records, and efforts made to familiarize yourself with the culture at Wharton, or/and
any effort that you have made to strengthen your candidature. For example, if
you have improved your GMAT, have received promotions,  have gained more clarity on your goals this
time, or if you have taken new quantitative classes or certifications, share
that information in this essay. Since the word limit is 250 words, it is
advisable to give a crisp, straight jacket account of areas you have improved
upon.

First-time
applicants may also use this section to address any extenuating circumstances.
(250 words)


‘Addressing
extenuating circumstances’ means that you should address the weakness, if any,
in your application. Your response should be brief, without making any excuses.
Here you may address a weakness in your profile, such as education gap or
employment gap, lack or growth at work, or low GPA or GMAT. Your weakness may
also bring out a positive aspect of your personality. For example, if you are
discussing your employment gap, you may explain that you did something
productive during that period, such as traveling, volunteering or handling a
family medical emergency.

For more information,
please visit the Wharton MBA Admissions Blog.

For  further assistance in developing your
application essays, you may review the general Essay Tips. To meet the stringent word
limits, you need to be extremely precise in presenting your case and make every word count.

For
essay analysis  of other schools by MER, click here.

You
may also be interested in Whartonadmit Mansi’s video interview and awebinar wherein she discussed in detail about the factors that contributed
to her success at the top 5 MBA programs.

Since 2011, MER (myEssayReview)  has helped many applicants get
accepted into top 20 MBA programs including Wharton .(Poonam is  one of
the top 5 most reviewed consultants on the GMAT Club.)

This article
was first published in myEssayReview blog.


You may email Poonam at [email protected] with questions about
your Wharton application.

Web /BlogFree resources/LinkedIn/ Facebook/
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Photo by Sean Pollock on Unsplash

This article first appeared on Sia Admissions Blog

An MBA’s general core curriculum offers an excellent opportunity for future business leaders of virtually any sector to gain insight into the fundamentals of business. Over time, business schools have also developed strengths in specific industries, allowing for a deeper understanding of various fields. With the commercial real estate market now exceeding $16 trillion in the United States alone, the sector offers many opportunities to have a meaningful impact. It comes as no surprise, then, that candidates are interested in MBAs that provide insight, exposure, and training to prepare them for a career in the real estate sector.

If your objective is to launch or enhance a career in real estate post-MBA, you should evaluate these programs. To help with your school selection process, we have outlined five (5) top MBA programs with strong resources and ties to the industry. Backed by impressive job placement records of their respective students, earning an MBA from any of these institutions may yield a high ROI in your post-MBA career in real estate.

The Wharton School



For candidates interested in real estate development, real estate finance and economics, urban fiscal policy, real estate law, and housing markets, Wharton offers an MBA with a focus (major) in Real Estate. Through the required courses and electives, students gain insights related to the many tangents of real estate. Furthermore, The Samuel Zell & Robert Lurie Real Estate Center offers deep international and national industry insights. Their sponsorship of research, conferences, seminars and special programs for Real Estate MBA students provide a web of knowledge and connects for students to be “in the know.” The Center also hosts annual panel discussions whose topics run the gamut from geopolitics affecting real estate and real estate technology, to real estate investment trends and capital markets. In addition to an active alumni engagement, students also gain first-hand experience and insights through annual treks. 

UNC Kenan Flagler Business School



Of the top 20 U.S. MBA programs, University of North Carolina (UNC) Kenan Flagler tops with 11% of its 2018 graduating class accepting positions in Real Estate. Kenan-Flagler’s Leonard W. Wood Center for Real Estate Studies offers students exposure to and preparation for a successful career in the sector. Comprehensive coursework and hands-on training, conferences, treks, and certifications, are all components of the Real Estate Center’s effort to prepare future leaders for successful careers. The alumni network is also very active, serving as mentors to students and helping them develop into leaders the sector needs.  

Columbia Business School



With its central New York location, Columbia Business School offers MBA candidates opportunities to enroll in electives that pave the path for a successful post-MBA career in Real Estate. With a spirit of entrepreneurship, students with a career-focus in Real Estate have the opportunity to gain a deeper understanding of Real Estate Finance and Investment Management. Through the Paul Milstein Center for Real Estate, Columbia’s MBA candidates gain theoretical and practical insight incorporating both national and international themes. In the classroom, students work on over 60 proprietary cases to increase critical thinking and complex problem-solving skills. The center also hosts a speaker series where industry experts – which often includes Columbia alumni – are invited to discuss the trends in the real estate market.

UCLA Anderson School of Management



The UCLA Anderson MBA program offers students opportunities to choose a Real Estate career path through a variety of electives, applied management research project,  and other resources. MBA candidates benefit from resources sponsored by the Ziman Center for Real Estate and participate in the annual symposiums, competitions, speaker series, and conferences to hone their understanding of the sector and build essential skills for a successful career. About 4% of UCLA Anderson’s 2018 MBA graduates accepted jobs in Real Estate spanning the gamut from development, strategic planning and analysis, and diversified commercial and development companies, including REITs and private real estate regional firms. 

The University of Texas at Austin - McCombs School of Business



The University of Texas at Austin’s McCombs School of Business offers excellent resources for students interested in careers in Real Estate. The Real Estate Center at McCombs helps MBA Real Estate concentration students prepare for careers in real estate finance, investment, and development. In this program, students have opportunities to participate in career training and development, competitions, industry conferences, etc. To gain hands-on experience, students also have the chance to manage both REITs and Private Equity funds, one of the country’s only business school to offer this privilege.
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The Wharton School at the University of Pennsylvania plans to send out Round 1 interview invitations on October 29,  and once again, the school is using its team-based discussion format rather than a traditional admissions interview to evaluate its candidates. Understandably, Wharton applicants get anxious about this atypical interview, because the approach creates a very different dynamic from what one usually encounters in a one-on-one meeting—and with other applicants also in the room, one cannot help but feel less in control of the content and direction of the conversation. Yet despite the uncertainty, here are a few things that interviewees can expect:

  • You will need to arrive at the interview with an idea—a response to a challenge that will be presented in your interview invitation.
  • Having the best idea is much less important than how you interact with others in the group and communicate your thoughts. So while you should prepare an idea ahead of time, that is only part of what you will be evaluated on.
  • Your peers will have prepared their ideas as well. Chances are that ideas will be raised that you know little or nothing about. Do not worry! The admissions committee members are not measuring your topical expertise. Instead, they want to see how you add to the collective output of the team.
  • After the team-based discussion, you will have a short one-on-one session with someone representing Wharton’s admissions team. More than likely, you will be asked to reflect on how the team-based discussion went for you; this will require self-awareness on your part.

To give candidates the opportunity to undergo a realistic test run before experiencing the actual event, we created our Wharton Team-Based Discussion Simulation. Via this simulation, applicants participate anonymously with three to five other MBA candidates in an online conversation, which is moderated by two of our experienced Senior Consultants familiar with Wharton’s format and approach. All participants then receive feedback on their performance, with special focus on their interpersonal skills and communication abilities. The simulation builds confidence by highlighting your role in a team, examining how you communicate your ideas to—and within—a group of (equally talented) peers, and discovering how you react when you are thrown “in the deep end” and have to swim. Our Wharton Team-Based Discussion Simulation allows you to test the experience so you are ready for the real thing!

The 2019 Wharton Team-Based Discussion Simulation Round 1 schedule is as follows:

  • Group A: Saturday, November 2 at 12:00 p.m. ET
  • Group B: Saturday, November 2 at 3:00 p.m. ET 
  • Group C: Sunday, November 3  at 3:00 p.m. ET 
  • Group D:  Sunday, November 3  at 6:00 p.m. ET 
  • Group E: Monday, November 4 at 9:00 p.m. ET 
  • Group F: Tuesday, November 5 at 6:00 p.m. ET 
  • Group G: Wednesday, November 6 at 9:00 p.m. ET 
  • Group H: Thursday, November 7  at 6:00 p.m. ET 
  • Group I: Friday, November 8  at 3:00 p.m. ET 
  • Group J: Saturday, November 9 at 12:00 p.m. ET 
  • Group K: Saturday, November 9 at 3:00 p.m. ET 
  • Group L: Sunday, November 10  at 12:00 p.m. ET 
  • Group M:Sunday, November 10 at 3:00 p.m. ET 
  • Group N: Monday, November 11  at 9:00 a.m. ET 
  • Group 0: Monday, November 11 at 12:00 p.m. ET
  • Group P:  Monday, November 11 at 9:00 p.m. ET 

To learn more or sign up for a session, visit our Wharton Team-Based Discussion Simulation page.
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The University of Pennsylvania's Wharton School once again asks applicants to submit two essays for the 2020-21 application season. This year, the school has tweaked the second essay prompt. The applicants can also write an optional essay to provide additional information and explain extenuating circumstances. The reapplicants also have to write an additional required essay. The word limit for all the essays remains unchanged. The candidates have 900 words to present their candidacy for the Wharton MBA program.

From Wharton Blog: Our main goal is to get to know you
the best that we can, and the change to our second prompt was largely motivated
by that desire. We hope to give applicants room to reflect on their unique
backgrounds and think about what their value-add will be to the Wharton
community. Applicants should remember that the Admissions Committee is looking
for candidates who will contribute to all aspects of Wharton life.

Application Deadlines:

Round

Application
Deadline


Interview
Invitations


Decisions

Round 1

September 15, 2020

October 28, 2020

December 16, 2020

Round 2

January 5, 2021

February 11, 2021

March 25, 2021

Round 3

March 31, 2021

April 15, 2021

May 11, 2021

Applications
are due by 5:00 p.m. Eastern Time (ET) on the day of the deadline.

Applications submitted after the
deadline for Round 1 or 2 will get rolled into the next round. Wharton will not
accept applications submitted after the Round 3 deadline.

For
more information about applying for the Wharton MBA, visit the Wharton admission website.

The 2020-2021
application will open in July.


Wharton Essays:

The
two required essay questions expect you to explain how Wharton can
help you achieve your goals and what you can contribute to the Wharton community. The Admissions Committee wants to get to know you on both a
professional and personal level. "We encourage you to be introspective,
candid, and succinct. Most importantly, we suggest you be yourself."

Here is MER's analysis of Wharton
essays :


Essay 1:

 What do you hope to gain
professionally from the Wharton MBA? (500 words)


Although
this essay is a classic career goals essay, the expectation of the admission
committee sets it apart. You have to think of a bigger picture and where you
see yourself in the next 15-20 years. That is, you have to explain your short-term
goals, long term vision, and the broad impact you made on your industry,
community, or country. Also, you have to illustrate how the skill set and experience
acquired at Wharton will help you fill the gap between your present career and
your long-term goals. The focus of this essay should not be on your
professional history and key accomplishments, but on your career objectives and
your 'fit' with the program.

Though
the essay does not ask about your professional history, I suggest providing a
brief account of your vital professional experiences that have kindled your
ambitions and given you the clarity regarding your goals. Explain what you hope
to achieve professionally both in the short term and then in the long term.
Then share your present mindset and explain why an MBA at this stage in your
career will bring you closer to your goals. You need to do a self-critique of
your weak points and highlight how the MBA experience can help cement them. The
thought here is to demonstrate self-awareness and resolve to look for
solutions. Try to showcase how Wharton business school can abet you in
overcoming your weaknesses and filling gaps in your skillset.

Then
go ahead and explain how an MBA from Wharton will help you fill those knowledge
gaps and how the resources and offerings at Wharton will support your goals.
You can do this by conveying to the admission committee that you understand the
Wharton community and what the school offers. Outline how you fit into the
diverse Wharton community. Be specific about how your professional goals are in
line with various resources and offerings at Wharton. Including specific
information from your Wharton research and linking it to your goals and values
is the key here. For instance, you could talk about how unique educational
opportunities, culture, activities, student clubs and organizations, rich and
flexible curriculum, and the accomplished faculty at Wharton can be a pathway to
your goals. The bottom line is making a case for Wharton.

Essay 2:

Taking into consideration
your background – personal, professional, and/or academic – how do you plan to
make specific, meaningful contributions to the Wharton community? (400 words)


Last
year's question asked about a single impactful experience and how the
candidates intended to contribute to Wharton using learnings from that
particular experience. This new question provides them the flexibility to
choose experiences from their personal, professional, and academic life. The
admission committee is looking for candidates who can make an impact while
being at Wharton and later as alumni.

You
can pick 2-3 most significant experiences from the past where you made an
impact on your organization or community, and then explain how these
experiences have prepared you to contribute to the Wharton community. Throw
light on what challenges you faced and how you dealt with those challenges, eventually
making an impact. You must also share the learnings you gleaned from the
experience and then elucidate how the Wharton community can benefit from your
experience. Your contribution should directly stem from your experience. You can contribute
in many different ways:  in the
classroom, within the group project, or any clubs or student organizations.

Wharton
values teamwork and diversity and wants a student group that can support each
other. For instance, you overcame stress at work by learning meditation or
yoga, and now you can use that experience in taking yoga classes and help
fellow students to overcome stress. To answer this question, you must familiarize
yourself with Wharton's resources and offerings and the school's culture. Also, your impact
should extend beyond your two years at Wharton. So
you need to show to the admission committee that you will enrich the Wharton
community not only as a student but also as a valuable alumnus.

Required Essay for all Reapplicants:

Please use this space to share with the Admissions Committee how
you have reflected and grown since your previous application and discuss any
relevant updates to your candidacy (e.g., changes in your professional life,
additional coursework, and extracurricular/volunteer engagements).
(250 words)

Wharton
is inviting reapplicants to reflect on their candidacy. If you are a
reapplicant, you need to illustrate here that you have grown and evolved since
the last time you applied. Discuss your enhanced professional qualifications,
improved records, the actions you took to familiarize yourself with the culture
at Wharton, or the efforts you have made to strengthen your candidature. For
example, if you have improved your GMAT, received promotions, gained more
clarity on your goals this time, or if you have taken new quantitative classes
or certifications, share that information in this essay. Since the word limit
is 250 words, it is advisable to give a crisp, straight jacket account of areas
you have improved upon.

Optional Essay:

Please use this space to
share any additional information about yourself that cannot be found elsewhere
in your application and that you would like to share with the Admissions
Committee. This space can also be used to address any extenuating circumstances
(e.g., unexplained gaps in work experience, choice of recommenders,
inconsistent or questionable academic performance, areas of weakness, etc.)
that you would like the Admissions Committee to consider.


optional essay is an
opportunity for you to give relevant information to the Ad Com that you could
not provide in other parts of your application. The optional essay is a great
place to address extenuating circumstances, which means that you should explain
any weaknesses in your profile. For example, if you have lower than average
GMAT score, any grades below a C on your transcript, academic probation, or a
significant employment or education gap, you can explain it in this essay. Also,
if you cannot get your recommendation letter from your current supervisor,
please explain that in the optional statement.

To provide context for a weakness in your profile, make sure
your reason is genuine to convince the Ad Com that your low grades or
employment gap occurred due to unforeseen circumstances beyond your control.
Your response should be positive, straightforward, and fact-focused and should
not sound like you are making excuses for a weakness in your profile. Your
weakness may also bring out a positive aspect of your personality. For example,
if you are discussing your employment gap, you may explain that you did
something productive during that period, such as traveling, volunteering, or
handling a family medical emergency.

If
you do not have any weakness in your profile but think that you did not get a
chance to present every vital aspect of your candidacy, you can do that in  an optional essay. For example, you can throw
a spotlight on a significant professional accomplishment, extracurricular
accomplishments, or community involvement. If you have done a whole lot of
community work and you could just touch upon it in the second essay, you can
elaborate on it here. Perhaps you have a stellar leadership story or
entrepreneurial experience that you did not get a chance to share elsewhere; feel
free to use this space for that.

To meet the stringent word limits,
you need to be extremely precise in presenting your case and make every word count.

For
additional essay writing resources, see the essaytips article! On
Wharton website.

Want to learn more about what it
takes to get into Wharton, check out Wharton admit Mansi's video interview.

Free Resources:

10 Key Essay Tips with Examples

Essay Analysis of Other Top Programs-2020-21

 MER Students Share their success Stories

Case Studies

Since 2011, MER (myEssayReview) has helped many applicants get accepted into the top 20 MBA programs. (Poonam is one of the top 5 most reviewed consultants on the GMAT Club.) Do you have questions about your application? E-mail Poonam at [email protected] or sign up here for a free consultation.
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We interviewed people on admission boards at the top schools, do you don't have to! We found out everything you need to know and combined it into one article for each school.

We spoke with William Houder, Associate Director of Admissions, to learn more about what makes Wharton so unique. In the interview he spoke about GMAT scores, how Covid-19 has affected the MBA program and he shared his tip for Wharton applicants. If Wharton is on your dream school list, you don't want to miss this.

To read the full interview, click here.

To read our previous Insider Information, click here.

If you still need some more help with your application, click here to contact us for a FREE consultation personalized to you.
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If you are considering an Executive MBA, Wharton’s program is among thetop EMBA programs in the world. With campuses in Philadelphia and San Francisco, the program offers working professionals the option to choose the location that best meets their needs.

The Wharton EMBA program lasts 24 months. During this time, students have access to career coaching, workshops and resources through Wharton’s MBA Executive Career Advancement Team. Students also can take part in optional Global Modular Courses led by Wharton faculty across the globe.

Want to know if the Wharton EMBA program is the right fit for you? Take a look at the class of 2022 profile. On average, students have 12 years of work experience, and their employers often sponsor them.

Below, please find this year’s 2020-2021 application deadlines along with Personal MBA Coach’s advice on how to tackle the Wharton EMBA application essays.

Wharton Upcoming EMBA Application Deadlines:

Round 1: December 2, 2020

Round 2: February 10, 2021

Wharton 2020-2021 EMBA Application Essays:

Essay 1: What are your career objectives and how will the Wharton MBA Program for Executives contribute to your attainment of this objective? (750 words maximum)

Essay 2: During the spring of 2020, Wharton Professor Mauro Guillen created and taught the course “The Impact of Coronavirus.” As part of this course, Prof. Guillen interviewed Prof. Sigal Barsade on the concept of emotional contagion and its impact on leadership. Please review this interview and then respond to the question below:

Profs. Mauro Guillen & Sigal Barsade discuss Emotional Contagion What have you learned about yourself during the Coronavirus pandemic? Please share special examples about how these times have impacted you personally and professionally. (750 words maximum)

Essay 3: Given your already demanding job and the desire to remain committed to important family and personal obligations, how do you plan to handle the additional demands on your time once you enroll? (500 words maximum)

Essay 4 (Optional): If necessary, you may use this optional essay to explain any extenuating circumstances of which the Admissions Committee should be aware. (300 words maximum)

Personal MBA Coach’s Tips:

Essay 1: What are your career objectives and how will the Wharton MBA Program for Executives contribute to your attainment of this objective? (750 words maximum)

For this first question, we recommend a straightforward response. State your goals clearly and provide some brief perspective on how you arrived at these aspirations. In most cases, candidates should include both a short-term and a long-term goal.

This question does not require you to walk through your entire resume. Instead, focus on your past just enough to establish your key skills as well as how and why you will succeed in the future.

Be specific about how Wharton will help you close your skill gaps and what opportunities you plan to take advantage of on campus. Avoid vague statements and do your research to determine what Wharton specifically will offer you. While you should not include a laundry list, think about classes you are particularly interested in or perhaps professors you are looking to study with. Be sure to show your understanding of Wharton’s culture here as well.

Essay 2: During the spring of 2020, Wharton Professor Mauro Guillen created and taught the course “The Impact of Coronavirus.” As part of this course, Prof. Guillen interviewed Prof. Sigal Barsade on the concept of emotional contagion and its impact on leadership. Please review this interview and then respond to the question below:

Profs. Mauro Guillen & Sigal Barsade discuss Emotional Contagion What have you learned about yourself during the Coronavirus pandemic? Please share special examples about how these times have impacted you personally and professionally. (750 words maximum)

This second essay question is clearly new this year. Begin by watching the video linked above. As you think about what you have learned about yourself and your leadership style during the pandemic, consider how you have demonstrated the leadership traits mentioned in the video. While the question is open-ended in terms of asking what you have learned about yourself, these learnings ideally will center on the leadership qualities discussed by Professor Sigal Barsade.

Consider introducing broad learnings about your leadership strengths and opportunity areas. Then, incorporate specific examples of your leadership in action, ideally including at least one professional example. This essay should clearly communicate your leadership style to the reader. While the question does not explicitly ask for this, you also may want to touch upon how you will bring these learnings to Wharton.

Essay 3: Given your already demanding job and the desire to remain committed to important family and personal obligations, how do you plan to handle the additional demands on your time once you enroll? (500 words maximum)

This response is extremely straightforward. The readers want to see that you have thoroughly considered the demands and that you have the time. Along with talking about work and the people on your team, mention family and friends or other support networks that you have. Nothing is too personal here.

Essay 4 (Optional): If necessary, you may use this optional essay to explain any extenuating circumstances of which the Admissions Committee should be aware. (300 words maximum)

The fourth optional essay question should be answered only by those with extenuating circumstances. Read more on our approach to optional essays here.

Need help with your EMBA applications? Personal MBA Coach is here to guide you!

Founded by a Wharton and MIT graduate, we regularly help applicants navigate their applications each year. We also conduct mock interviews with former M7 interviewers on our team.

Personal MBA Coach has been helping candidates through all aspects of the MBA application process for 13 years with a 96% success rate. Call us today at +1 617-645-2424 or email [email protected] for a free consultation on your profile along with how we can help make your MBA dreams a reality!

You also may be interested in the following blog posts:

2020-2021 Executive MBA Programs: Details, Deadlines & Requirements

Interview with Personal MBA Coach Founder, Scott Edinburgh

Personal MBA Coach’s Essay Writing Tips
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Wharton TBD interview invitations were released today. If you were lucky enough to receive an invitation, congratulations!

Now comes the harder part – planning for this unique experience. The group interview causes anxiety for many MBA applicants. Candidate apprehension is unfortunately compounded this year by the added complication of a virtual interview.

To help candidates prepare for this unique experience, Personal MBA Coach will be offering à la carte group interview sessions for Wharton (see below for details), providing candidates a unique opportunity to practice this difficult interview. We have former Wharton TBD interviewers to conduct these sessions! You can practice with an interviewer who has evaluated more than 70 applicants at Wharton and knows exactly how to help you ace the TBD. 84% of our interviewees were accepted last year!

While group interviews take additional preparation, with the proper practice and planning they actually can be easier than an individual interview. Personal MBA Coach is here to answer a few of your most pressing questions!

What exactly is the Wharton TBD?

The Wharton TBD (Team Based Discussion) is required for all candidates invited to interview and includes the following three components:

1. Each candidate gives a one-minute introduction to the group, providing an opportunity to get to know one another (this is the first 5 minutes).

2. Introductions are followed by a 35-minute team discussion, during which you should present the results of your discussion to the interviewers. Part of this is delivering your “pitch” and part is the broader team chat.

3. After the group exercise, you will have a brief, individual 1:1 interview to discuss a couple of aspects of your profile and your interest in Wharton.

How should I approach a group interview?

Tip 1. Do not be the loudest one on the screen.

Many candidates attempt to stand out by dominating the conversation. We do not advise this approach. The group interview is a great way for Wharton to assess how a candidate is likely to act in classroom discussions and during group meetings. Admissions committee members are looking for leaders who are able to actively contribute, but they are not interested in someone who will talk over their peers and force their opinions on others.

Tip 2. Do not be a wallflower.

While you do not want to dominate, you also should not be the quietest one on the screen. It is important to ensure that your opinions and voice are heard. This means that you need to strike a delicate (but difficult) balance. This is even more complicated on screen where it is harder to read subtle cues from other participants.

Tip 3. Look for ways to add to an idea as opposed to contradicting it.

You do not have to be the one with the most unique idea or divergent position to stand out. Top leaders collaborate with their teams, and this skill is equally important in the business school classroom. Looking for ways to build off another idea or suggestion can be extremely beneficial and will show the evaluator that you know how to work with a team or a group. Think about where you can add the “and” instead of the “but” or the “or” here.

Tip 4. Respect your peers.

Particularly in the current climate, this should go without saying. Remain open to diverse points of view. Bringing in observations does not mean debunking what others have to say. If you disagree with someone in the group, be respectful and politely add another perspective without being critical or rude.

Tip 5. Do your research and plan ahead.

As with any other interview, adequate preparation is key. Wharton will release the topic in advance, giving candidates the opportunity to prepare for the TBD. Heed this advice and arrive with specific and well-researched talking points. However, also be prepared to pivot as needed.

What advice do you have for virtual interviewing?

To help you prepare for some of the unique challenges of a virtual interview, Personal MBA Coach reached out to a few of the former MBA Admissions Interviewers (including a former Wharton Admissions Director) on our team for their top tips!

1) Look into the camera or webcam, which is often placed higher than the normal vision. In addition, practice your set up with a friend or family member in advance of the interview to make sure the equipment is staged properly and functioning. Finally, be careful when using virtual backgrounds. Depending upon the video capabilities of your system, virtual backgrounds can place a strain on the system and make either the person’s head or the background fade in and out. – MJ, Former Wharton Admissions Director

2) Treat a virtual interview the same way you would an in-person interview – dress as you would if you were going in person, have a quiet and clean space with good lighting in which to conduct your interview, and of course, be on time! – Julie, Dartmouth Tuck, Former Admissions Interviewer

3) It is crucial to emote a bit more on virtual interviews since you do not have the nonverbal cues you would have in person. Be sure to modulate how quickly you are speaking, pause at the right time, smile and express excitement. While using hand motions can be great, avoid too much movement, which can be even more distracting on virtual interviews. – Karys, Yale SOM, Former Admissions Interviewer

As a Wharton alum, I conduct a limited number of unique TBD practice sessions with my team of former M7 interviewers to help candidates. These sessions, which will begin in early November, will mirror the actual Wharton interview, providing candidates an opportunity to work together with other applicants during a group session. They then will be followed by one-on-one interviews with former M7 MBA interviewers. Each participant will receive our proprietary interview preparation guide and a personal feedback session.

Founded by a Wharton and MIT graduate, we regularly help applicants navigate their applications each year. We also conduct mock interviews with former M7 interviewers on our team.

Personal MBA Coach has been helping candidates through all aspects of the MBA application process for 13 years with a 96% success rate. Call us today at +1 617-645-2424 or email [email protected] for a free consultation on your profile along with how we can help make your MBA dreams a reality!

Take a look at these blog posts for MBA application assistance:

MBA Application Resume Tips

MBA Essay Writing

MBA Interview Preparation
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Kudos to all of you who successfully got your Round 1 MBA applications in on time!

For some of you, that may have meant some late nights polishing your essays, fumbling through the online applications, and bugging your recommenders. For others, it may have been more of a leisurely stroll to the finish line. In any case, you certainly deserve a high-five and a weekend off—but now it is time to get back to work!

This “work” generally falls into two categories: preparing for your hoped-for MBA interviews and starting Round 2 applications. Today, we will talk about the interviews; next time, we will discuss strategies for Round 2 MBA applications.

There are a few things you should make note of as you start your MBA interview preparation. Interviews are almost always required to gain admission to a top MBA program. The chance of acceptance to a program rises from single digits and teens to about 40%–50% for those who are invited to interview. So, it is now time to sharpen your interview skills. Here are some tips.

1. Know your resume.

At many schools, the only information an interviewer may have about you is your resume, so it likely will be the focus of your discussion. Therefore, you must know your resume inside out and upside down.

In real terms, this means remembering all those small points, random numbers, and overly general descriptions that populate most resumes. Remember how you wrote on your resume that you “cut costs by 30 percent”? Well, guess what? The MBA interview is exactly the place where you will be called upon to answer questions like “How did you calculate that number?”; “Did you do it by yourself?”; and “What role did you play as a leader?” Get ready to talk to even the smallest bullet point on your resume, because that is where most people get tripped up.

2. Get ready to be interesting.

I frequently tell my clients that interesting applicants are those who have a unique story to tell—a story that no one else is telling. Avoid talking about how you ran a marathon, love to travel, or are a “foodie.” The people interviewing before you and after you are probably saying the same things. Instead, focus on a unique piece of your story that may not have come out in other parts of your application. What is your story? Get ready to tell it.

3. Know the school.

An interview is frequently a test to see how you will fit into the business school community, how you will get involved, and how excited you will be to attend. (Note: Admissions committees pass up plenty of well-qualified candidates whom they suspect will not attend if admitted.) In order to properly communicate all of this, you really have to know the MBA program intimately.

Now is the time (and likely your last chance!) to talk to students and alumni, connect with club leaders, and—if you have not done so yet—visit the school. Nothing will impress an interviewer more than you knowing exactly why you want to attend their school; explain how you will contribute and why you are dying to go there. Remember, specificity equals credibility.

4. Know the interview.

As noted above, many MBA programs will have resume-focused interviews, but not all will. Know what kind of interview to expect before you arrive. The Wharton “interview,” for example, is a “Team Based Discussion.” Candidates are asked to prepare a one-minute pitch, which they share with four or five other prospective students. The group then must work together to blend all of the ideas into a single pitch to the admissions committee facilitator—in just 35 minutes. During the 2020–2021 application season, the whole process is taking place online.

The MIT Sloan MBA interview requires an additional essay before the interview. For the Harvard Business School interview, you must submit an additional essay within 24 hours of the interview. So, be prepared for each of these different animals.

Of course, preparing for your MBA interview is only one thing you need to do after hitting the “Submit” button on your application. The other is figuring out what you are going to do for Round 2, which we will discuss next time.
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Writing the Personal Statement for your MBA application can feel frustrating and even disorienting. What do I focus on? How can I make the reader interested in me? How can I be remembered and stand out from the mountain of other applications? These are commonly asked questions for applicants. In this video, I walk you through the most effective way that you can capture the reader's attention and make yourself memorable.

https://www.youtube.com/watch?v=tqbcyRs35ds

In this presentation, I walk you through how
you can create a powerful MBA Personal Statement!
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With the recent release of the 2022 US News and World Report’s Best Business School Guide, MBA rankings are top of mind for all MBA hopefuls. While MBA rankings are just one factor to consider in the MBA decision-making process, Personal MBA Coach would like to share our thoughts on this latest list.

As Personal MBA Coach recently shared with Business Because readers, average ranking over time is far more important than fluctuations from year-to-year. It is important to keep this in mind as you review this year’s changes.

Somewhat surprisingly, given the fluctuations seen in recent years, all of the top 10 schools from the 2021 US News & World Report rankings remained in 2022’s top 10 list. Dartmouth Tuck (now tied with NYU Stern for 10th place) is the only newcomer to this year’s top 10 list.

2022 Full-Time MBA Rankings: What Changed and What Remained the Same

Once again, Stanford GSB has secured the #1 spot in the US News & World Report MBA rankings. This year, however, it is the sole holder of this position. While Stanford GSB and Wharton shared 1st place in the 2021 rankings, Wharton has dropped to #2 this year. Similarly, while Chicago Booth has earned 3rd place again this year, Kellogg (which shared the #3 spot with Chicago Booth last year) has fallen to #4.

Harvard Business School and MIT Sloan round out the top 5. Though the #5 spot is a repeat ranking for MIT Sloan, Harvard Business School celebrates a slight increase from its previous and lowest-ever position of 6th place.

Columbia Business School jumped slightly from 8th to 7th place. Berkeley Haas also secured 7th place, maintaining the same position from the previous year. For the third year in a row, Yale SOM finished 9th. Rounding out the top 10, NYU Stern secured 10th place for the second year in a row, joined this year by Dartmouth Tuck.

Duke Fuqua retains 12th place this year, while Michigan Ross dropped from #12 to #13. UVA Darden shares 13th place with Michigan Ross, falling from its past position of #11.

Cornell Johnson, Carnegie Mellon Tepper, USC Marshall, UCLA Anderson, Texas McCombs, and UNC Kenan-Flagler completed the top 20, in that order, with Tepper and Marshall tying for 16th place, and Anderson and McCombs tying for 18th.

Again, it is important to remember that changes over time are more significant, and these rankings vary from year-to-year and guide-to-guide. For instance, this year’s Financial Times Global MBA Rankings offer very different results than those shared above, in part due to the omission of Harvard Business School, Wharton, and Stanford GSB from their list.

The constant shuffling at the top demonstrates the growing competition among elite business schools. The average GMAT score range among the top 10 schools’ class of 2022 admits was just 13 points (from 720 to 733). Similarly, there was a small variation in average GPA, ranging from 3.5 to 3.8.

There are no longer just a few top programs to consider. While the M7 business schools receive a lot of attention, there are many compelling full-time MBA program options outside of the M7. Personal MBA Coach’s average client applies to five to seven programs to maximize their chances of acceptance.

Beyond MBA rankings, it is essential to consider factors including location, culture, areas of specialization and job placement. Just because a particular business school has a high position in general rankings does not mean that it will better prepare you for your next job. Consider your post-MBA goals and learning style and explore specialized rankings depending on these aspirations.

Finally, available financing also should be a key consideration since you may be able to secure more funding from one school versus another. Last year, Personal MBA Coach’s clients earned over $6M in scholarships. Depending on your personal circumstances, you might be better off selecting a school with a slightly lower ranking if it offers a more favorable financial package. Some M7 schools are very generous with scholarships while others award them much more sparingly.

About Personal MBA Coach:

Founded by a Wharton MBA and MIT Sloan graduate who sits on the Association of International Graduate Admissions Consultants Board of Directors, Personal MBA Coach has been guiding clients for 14 years and is consistently ranked #1 or #2, currently holding the #1 ranking in the US on Poets&Quants.

We help clients with all aspects of the MBA application process including early planning, GMAT/GRE/EA tutoring, application strategy, school selection, essay editing and mock interviews. Our team includes a former M7 admissions director and former M7 admissions interviewers.

Last year, our clients earned more than $6M in scholarships!

You also may be interested in the following blog posts:

How to Think About MBA Goals

Articulating Your Personal Story

How to Maximize Your Chance for an MBA Scholarship
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As we recently shared in our 5 month MBA application timeline, now is the perfect time for class of 2022 MBA hopefuls to begin their GMAT, GRE or Executive Assessment (EA) preparation.

If you have not already begun studying for the GMAT, GRE or EA exam, take this opportunity to sign up with one of Personal MBA Coach’s tutors before our slots fill up later this summer.

Even if you already have a strong GMAT, GRE or EA score, you want to make sure that you are fully maximizing your potential!

To help get you started, below are the questions Personal MBA Coach is asked most often about GMAT, GRE or EA testing.

How important is the GMAT/GRE?

While these tests are just one part of the application and are not the be-all and end-all, they are very important. Further, they will play a more important role for some candidates than for others. If you are applying with a weaker academic record or from a field of study that is less analytically intensive, your score (particularly your quantitative scores) will be key to showing that you can handle the academic rigor of an MBA program.

Additionally, if you are applying from an overrepresented applicant pool, differentiating yourself with a strong GRE/GMAT score will be even more important.

What is a good GMAT score? What is a good GRE score?

While naturally this varies from school to school, it is becoming less common to see students earn admission to top 10-20 schools with a GMAT score below 700. For the Wharton class of 2022, the average GMAT was 722 (the average GRE was 161 V/161 Q). For Stanford GSB, the class of 2022 average was 733 (the average GRE was 165 V/164 Q). Harvard Business School reported a median GMAT score of 730 and median GRE of 163V/163Q for the class of 2022.

When determining your target score, researching average scores is a great way to start. While those with a very strong profile, a unique background, or from an underrepresented applicant pool could gain admission with a below-average score, it is becoming less common to see large numbers of applicants with scores more than 20 to 30 points below average succeed.

In some cases, such as those discussed in the previous question, you may need to score 20 to 30 points above the average to even be on the same playing field as other applicants.

GMAT vs. GRE for MBA – Which should I take?

This question is much easier to answer. Candidates should take whichever test they can score better on. Schools do not have a preference about the two tests, and the GRE has become more common over the past few years.

Personal MBA Coach’s advice is to take a practice test for each and see which one comes more naturally to you. Generally, if quant is a strength the GMAT may be your friend while those stronger in verbal tend to prefer the GRE.

Further, if you have taken one test many times and have not been successful, consider changing gears and trying the other test. Of course, you will need additional preparation for this new test, but that may be worth the effort!

How many times should I take the GMAT?

GMAT scores are valid for 5 years and you can take the exam up to 5 times during a 12-month period. There is also a lifetime maximum of 8 tests, and you can take the test only one time every 16 calendar days.

Further, you can cancel your score and the report does not go to the school if you are not happy with the result. This change has led to candidates taking the exam multiple times. Our average candidate now sits for the exam 2 to 4 times (with some giving the test as many as 6 or 7 attempts.) While this policy may seem great, it has caused average GMAT scores to rise, as more and more candidates cancel low attempts.

How many times should I take the GRE?

You can take the GRE exam once every 21 days and up to 5 times within any 12-month period. GRE scores are valid for 5 years and currently there is no lifetime test limit for the GRE. Like the GMAT, test takers can cancel their score if they are unhappy with the result.

As with the GRE exam, our average candidate sits for the exam 2 to 4 times (with some giving the test as many as 6 or 7 attempts.)

How does online testing differ from the standard GMAT/GRE testing?

The GMAT online exam has 3 full exam sections: Quantitative, Verbal, and Integrated Reasoning. Currently, a new version of the online GMAT is being developed to also include the Analytical Writing Assessment (AWA) section. The test is administered using the same time, scoring, and number of items as the test center-based exams.

At this time, the online exam is available in all locations, except for Mainland China, Cuba, Iran, North Korea, and Sudan. Like the in-person GMAT, scores are valid for 5 years and count toward the 12-month and lifetime limits. After the test, one retake is available for the online GMAT.

The GRE General Test at Home is offered everywhere that the GRE is normally available (except Mainland China and Iran) and is available seven days a week around the clock, with appointments available as early as 24 hours after you register. The online GRE has the same content, format, and on-screen experience as the test center-based exam. Your GRE score report will not indicate that you took the test at home, and the retake policies are the same as the test center-based exam.

How should I prepare for the GMAT/GRE?

Think about how you learn best and use this to inform your study plan. Personal MBA Coach feels that most applicants do best with one-on-one tutoring, allowing the applicant to target areas where they are struggling the most.

For this reason, we offer a variety of one-on-one tutoring packages with tutors who scored in the 99th+ percentile on the GMAT and GRE exams and are graduates of MIT, Harvard, UPenn, Yale, Columbia and more. Take a look at our tutoring services here.

What is the Executive Assessment (EA) exam?

The EA exam was designed for experienced professionals interested in pursuing advanced education and is most often used by those applying for EMBA programs, though some full-time and part-time programs also accept the EA. The 90-minute exam was created to assess the skills and knowledge of experienced professionals and evaluate business school readiness.

At this time, Berkeley Haas, Chicago Booth, Columbia Business School, Duke Fuqua, INSEAD, London Business School, MIT Sloan, Kellogg, NYU Stern, UCLA Anderson, UVA Darden, Wharton and Yale SOM programs accept the EA for Executive MBA candidates. Columbia Business School, Duke Fuqua, MIT Sloan, NYU Stern, and UVA Darden also accept EA scores for full-time MBA applicants.

Personal MBA Coach provides dedicated one-on-one EA tutoring. The EA is a shorter test so if you are short on time, it may be a good option to take advantage of our Executive Assessment test prep.

About Personal MBA Coach:

Founded by a Wharton MBA and MIT Sloan graduate who sits on the Association of International Graduate Admissions Consultants Board of Directors, Personal MBA Coach has been guiding clients for 14 years and is consistently ranked #1 or #2, currently holding the #1 ranking in the US on Poets&Quants.

We help clients with all aspects of the MBA application process including early planning, GMAT/GRE/EA tutoring, application strategy, school selection, essay editing and mock interviews. Our team includes a former M7 admissions director and former M7 admissions interviewers.

Last year, our clients earned more than $6M in scholarships!

You also may like these other MBA application tips and updates:

Bouncing Back from an MBA Rejection

Personal MBA Coach's Take on the 2021 FT Global MBA Rankings

Berkeley Haas, UVA Darden, Michigan Ross, USC Marshall & Texas McCombs Admit with $70K Scholarship
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The Wharton School has confirmed the 2021-2022 MBA application essays. This year, Wharton has decided to slightly change the first essay while leaving essay 2 the same. Wharton has an additional required application essay for reapplicants along with an optional essay.

Below, please find this year’s deadlines along with Personal MBA Coach’s analysis of the Wharton MBA application essays.

The Upcoming Wharton Application Deadlines Are As Follows:

Round 1: September 8, 2021

Round 2: January 5, 2022

Round 3: March 30, 2022

2021-2022 Wharton MBA Essays:

Founded by a Wharton MBA graduate, Personal MBA Coach is intimately familiar with the Wharton MBA program and the culture at Wharton. We advise candidates to think about each question differently, ensuring answers complement each other AND show readers multiple aspects of their candidacy.

Essay 1: How do you plan to use the Wharton MBA program to help you achieve your future professional goals? You might consider your past experience, short and long-term goals, and resources available at Wharton. (500 words)

With this first Wharton essay question, you should discuss your specific short-term goals, but also think more broadly. Essay 1 allows you to reflect at a higher level on your aspirations. Think about where you see yourself in 10, 20 or even 30 years. Consider the path you will take to get there.

It is also expected that you touch upon your past successes, explaining how they are relevant to your future objectives. This question does not require you to walk through your entire resume, and candidates are advised not to do so. Instead, focus only on your past to establish what your key skills are as well as how and why you will succeed in the future.

As you think about your future, also think about your skill gaps and how a Wharton MBA, specifically, will help you to close these gaps. It is important that you allow adequate time to research all that Wharton has to offer. Personal MBA Coach suggests being very specific in detailing the opportunities you plan to take advantage of on campus.

Discuss classes you are particularly interested in or perhaps professors you are looking to study with, etc. Do not include a laundry list. Instead, carefully think through how each offering will allow you to fill in your skill and/or experience gaps. Be sure to show an understanding of Wharton’s culture here. Avoid writing vague statements and copying and pasting content from other MBA application essays.

Essay 2: Taking into consideration your background – personal, professional, and/or academic – how do you plan to make specific, meaningful contributions to the Wharton community? (400 words)

Essay 2 gives candidates the opportunity to share past accomplishments and detail potential contributions to the Wharton community. Think about what you have done beyond what is in your resume. Consider items you wish you had space within your resume to elaborate on. Ask yourself what makes you special.

This question gives you the freedom to consider talents, impressive extracurricular accomplishments and/or unique professional skills. We advise candidates to think broadly here about what makes them unique and how they have succeeded both professionally and personally in the past.

Then, consider how you might share these passions, experiences, and successes with your future peers. Tell the reader how you will improve and enrich the Wharton campus. Be sure to do your research on all that Wharton has to offer and to be specific on the contributions you will make. Is there a club you want to join? Perhaps there is a talent you want to share?

As with essay 1, avoid listing items. Instead, select a few unique areas where you will contribute and discuss the mark you hope to leave. Then, as you discuss the specific contributions you will make, tie these to the past experiences you have just brainstormed. A strong essay will cover multiple contributions that flow naturally from your personal story, your passions and your career goals.

Required Essay for all Reapplicants: Please use this space to share with the Admissions Committee how you have reflected and grown since your previous application and discuss any relevant updates to your candidacy (e.g., changes in your professional life, additional coursework, and extracurricular/volunteer engagements). (250 words)

Reapplicants should use the required additional essay to demonstrate growth. We advise candidates to review our tips for reapplicants before tackling this essay.

Optional Essay: Please use this space to share any additional information about yourself that cannot be found elsewhere in your application and that you would like to share with the Admissions Committee. This space can also be used to address any extenuating circumstances (e.g., unexplained gaps in work experience, choice of recommenders, inconsistent or questionable academic performance, areas of weakness, etc.) that you would like the Admissions Committee to consider.

Finally, the optional Wharton essay should only be answered by those with extenuating circumstances. Read more on our approach to optional essays here.

About Personal MBA Coach:

Founded by a Wharton MBA and MIT Sloan graduate who sits on the Association of International Graduate Admissions Consultants Board of Directors, Personal MBA Coach has been guiding clients for 14 years and is consistently ranked #1 or #2 by leading sources including Poets&Quants.

We help clients with all aspects of the MBA application process including early planning, GMAT/GRE/EA tutoring, application strategy, school selection, essay editing and mock interviews. Our team includes former M7 admissions directors and former M7 admissions interviewers.

Last year, our clients earned more than $6.5M in scholarships!
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