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17 Dec 2020, 06:00
| FROM Stacy Blackman Consulting Blog: Tips for Virtual Negotiations |
 “Fresh Ideas from the Blacklight” SBC’s Weekly Newsletter for Professionals For some people, face-to-face negotiations were already tough enough. With no end to the pandemic in sight, it seems negotiating over Zoom may become the new normal. As we master various emerging technologies, Chicago Booth’s George Wu believes virtual negotiations will become commonplace, even after the health threat subsides. You might think in-person negotiations will always reign supreme. But are there times when negotiating over Zoom can actually be easier? Or better? When COVID-19 forced Wu to shift his Advanced Negotiations class online this spring, it provided the perfect opportunity to study what works better in person and where Zoom might offer unexpected benefits. Here are a few of the advantages and drawbacks that Wu and his MBA students discovered in this new negotiating environment. We’ve added in some other tips to help you make the most of your Zoom negotiations. First Big Hurdles Problem: A fear of looking and sounding awkward over Zoom. Solution: Record meetings for feedback purposes. Review and assess your performance. Study your appearance and mannerisms. Do you seem engaged or distracted? Do you sometimes talk over the other participants? Are you following good Zoom etiquette? Think of these experiences as trial runs for a future negotiation, Wu says. Decide whether the image you project matches your intentions. Problem: Getting flustered and staying resolute during negotiations. Solution: Have a negotiation “script” on the screen to get you through challenging conversations. Wu and his students thought that Zoom made it easier to be less emotional, more rational, and to stick with a plan. Often, people have difficulty being tough in negotiations, saying precisely the right words, Wu explains. No matter how much we’ve practiced, we get nervous and choke up in the moment. Try to read your notes in a natural-sounding way, as experienced people do with a teleprompter. “Your desktop can be a form of preparation, and, in some ways, a crutch for you in negotiation that you ordinarily wouldn’t have,” Wu says. A Second Serious Roadblock of Virtual Negotiations Problem: How to build up rapport and trust—critical factors in negotiations—over Zoom. Solution: Take concrete action to compensate for the natural deficiencies of this virtual medium. In real life, you would ease into a negotiation with some friendly chitchat to break the ice. Yet our instinct is to get straight down to business when negotiating over Zoom. Don’t overlook the importance of building in time for small talk initially and to connect on a personal level.  We miss out on a lot of crucial body language online because we only see our counterpart’s upper torso. Most people don’t have their camera positioned at the right level, and they are often looking down. Both this lack of eye contact and visible body language makes it hard to create rapport. The good news is you can minimize these two trust impediments. First, make a conscious effort to look straight at the camera lens. That’s the only way to appear like you’re maintaining eye contact—something Wu says he spent the whole quarter trying to get it right. Second, sit a bit farther back from the screen to see more of your hand gestures and body position. This looks more natural and more like a face-to-face meeting in real life. Plus, you’ll convey a more personable image when your counterpart can get a glimpse of your home in the background. No, You Cannot “Wing It” Problem: Thinking virtual negotiations are inherently more casual. Solution: Be just as strategic in your online negotiations as in person. Negotiating over Zoom requires the same preparation and professionalism as in real life. Yes, you’re at home sitting in front of your computer. But that does not mean you should negotiate with a more cavalier attitude.  Before the meeting, discuss the goals with your team members. Figure out your limits and acceptable alternatives. Decide where you have some flexibility and what things could improve the agreement for you. Write down the information you need to give and get. If you will negotiate with a team, agree who will lead the meeting, make the summaries, and take notes. Remember also that your colleagues still expect you to have a professional appearance. Dress for your video conference as you would for an in-person meeting. And finally, as we come to terms with the place technologies such as Zoom will occupy in our future business negotiations, keep Professor Wu’s parting words in mind. He thinks that instead of focusing on its limitations, we need to figure out how to better leverage Zoom’s advantages. “I encourage people to think about this,” Wu says. “Imagine that Zoom is not only as good as face-to-face. But you are a better negotiator on Zoom than face-to-face.” *** Did you enjoy this post with tips for virtual negotiations? It originally appeared on the Blacklight, our weekly newsletter for professionals. At the Blacklight, we aim to illuminate with every dispatch that lands in your inbox. If you’re thirsty for guidance to help you slay it at work or as a student and move your goalposts closer, sign up today! The post Tips for Virtual Negotiations appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
23 Dec 2020, 09:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Episode #35: Last-Minute Applications |
 Are you a Round 1 candidate who’s decided to apply to a few additional schools in Round 2 now that you’ve heard back from your initial list of programs? Or are you a Round 2 candidate who either has their first batch of applications submitted early and wants to add in at least one more program? Or maybe you’re just finally making time to crack down and work on your initial materials? Regardless of why you may find yourself starting a business school application at this late date before Round 2 deadlines, this episode will help you avoid some common mistakes candidates make year after year. Listen to B-Schooled episode #35 here, or on any of the podcast apps listed below. And don’t forget to enjoy the holidays amidst all your application work! B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Episode #35: Last-Minute Applications appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
24 Dec 2020, 10:00
| FROM Stacy Blackman Consulting Blog: A Holiday Wish from Stacy Blackman Consulting |
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[img]https://www.stacyblackman.com/wp-content/uploads/sleigh-ride-horses-the-horse-winter-734x489.jpg[/img] This holiday season is unlike any other, to cap off a year like no other. As we move toward a new (and hopefully better) year in 2021, we wish you moments of peace amid the difficulties. We hope you make connections with family and friends—even if they can’t be in person. But most of all, we hope you hold on to the warmth of memories from holidays past and celebrate the joy that still surrounds us. On behalf of the entire team at SBC, I wish you all a happy and healthy holiday! Best, [img]https://www.stacyblackman.com/wp-content/uploads/Stacy_sig.png[/img] P.S: Round 2 deadlines are right around the corner. If you’re applying to Harvard Business School on January 5th but feeling a bit intimidated, don’t miss this terrific post on HBS’s MBA Voices Blog about [url=https://www.hbs.edu/mba/blog/post/finding-the-confidence-to-apply-to-hbs]finding the confidence to apply[/url]. The advice is spot-on, and really, it holds true for any elite business school that you may be considering. The post [url=https://www.stacyblackman.com/blog/happy-holidays-sbc/]A Holiday Wish from Stacy Blackman Consulting[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/o1FWGAqWjH4[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
30 Dec 2020, 08:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Episode #36: A Real Application Review (part 1 of 2) |
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Wouldn’t you love to be a fly on the wall when an admissions committee is reviewing candidates? In this episode of the B-Schooled podcast, you can be (well, kind of)! We share all the details about an applicant Stacy Blackman Consulting worked with, explain how the former admissions committee members on our staff assessed her candidacy, what advice they gave to strengthen her materials, and what ended up happening. Listen to B-Schooled episode #36 here, or on any of the podcast apps listed below. And don’t forget to enjoy the holidays amidst all your application work! B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Episode #36: A Real Application Review (part 1 of 2) appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
31 Dec 2020, 07:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Episode #36: A Real Application Review (part 1 of 2) |
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Wouldn’t you love to be a fly on the wall when an admissions committee is reviewing candidates? In this episode of the B-Schooled podcast, you can be (well, kind of)! We share all the details about an applicant Stacy Blackman Consulting worked with, explain how the former admissions committee members on our staff assessed her candidacy, what advice they gave to strengthen her materials, and what ended up happening. Listen to B-Schooled episode #36 here, or on any of the podcast apps listed below. And don’t forget to enjoy the holidays amidst all your application work! B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Episode #36: A Real Application Review (part 1 of 2) appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
31 Dec 2020, 07:00
| FROM Stacy Blackman Consulting Blog: Networking During a Pandemic |
 “FRESH IDEAS FROM THE BLACKLIGHT” SBC’s Weekly Newsletter for Professionals Even if the pandemic hasn’t put your job in jeopardy, growing your professional network is still a vital activity right now. But what’s the best way to go about networking in an era of virtual everything? Building connections requires out-of-the-box thinking, says Noah Askin, INSEAD assistant professor of organizational behavior. “There’s no magic bullet…Habit formation and goals are going to be essential here,” Askin told participants in the recent INSEAD webinar, Networking in Our New Reality. “This is not something you can now leave to chance.” Start by assessing your current network to determine whether it consists mainly of strong yet homogenous contacts. As our post on relaunching after a career gap explained, strong ties give you “redundant knowledge” because it comes from people doing the same things you do. Instead, Askin suggests we become the bridge between unconnected groups or individuals. If or when you need to look for a new job, Askin says you’ll likely find better intel from your weak ties than your closest connections. Network Building 2.0 Does the traditional idea of networking make you feel icky? Askin recommends reframing it as “relationship building” instead. Focus on cultivating real relationships with people you admire. Curious people are good at forming new ties and at giving and taking value, Askin notes. When curiosity is the motivator for meeting someone new, it comes off as authentic—not gross and self-serving. “They don’t think of establishing new ties as, ‘Oh, I’m going to network with this person.’ They’re like, ‘Hmm, who is this individual, I’d like to know more about him or her’.” When you meet someone, try to learn more about their goals or challenges. Instead of pitching yourself, find ways to meet their needs, even if they’re not asking for anything right now. Askin’s Guide to Networking in the Zoom Era Step 1: Set Your Goals Visualize where you want to be in the next one to three years. Identify the people (or types of people) you’ll need to connect with to make those goals happen. Step 2: Create a List of Contacts Askin recommends you draft a list of 50 to 100 contacts. “What we’re talking about here is not necessarily about establishing totally new ties, although they can be in there. It’s about people that you know reasonably well – contact them three to four times a year,” Askin explains. “It’s about strengthening weak ties – keep them updated on what you’re doing.” Don’t be afraid to take a long shot on someone you find fascinating, adds Askin. Seek out an introduction from a mutual contact if you can. But, he says, cold calling and emailing are also worth a try. Step 3: Start Reaching Out on the Regular You can apply the Kaizen philosophy of consistent, gradual change to networking, too. As Askin puts it: “Think of it like going to the gym. If you think, ‘I just need to psych myself up to do this more often,’ you’re never going to do it. You’re only going to change your attitude by changing your behavior first. Repetition is far more powerful than willpower.” So, if you connect with two or three people a week, you will have added 50 new people to your network a year later. But do your homework before reaching out. “Most people have an array of information about them online, whether it’s LinkedIn or a social media site. Use that to your advantage. Find out who these people are,” Askin advises. “And be prepared with your own story. ‘I’m interested in x and y; you’re somebody who focuses on x and y and would be really helpful to me.’” Virtual Office Hours  Finally, Askin has one other tip tailor-made for the era of Zoom. Since face-to-face meetings are now rare, he’s come up with a novel way to expand one’s network: have virtual “office hours.” Get the word out via LinkedIn or other social media that you’ll host 15-minute Zoom meetings to exchange ideas and give advice. Make sure to state your areas of interest or expertise to invite relevant conversations, Askin advises. Also, interested participants should give you two sentences on why they’re reaching out to you. For Askin, these virtual office hours have been a huge hit. They’ve also led to conversations with people from all over the world—some of whom he had no prior connection to. “You’d be amazed at the reach that you can get if you get enough people that like it and start to share it with their networks – all of a sudden, you expand your network,” Askin explains. “I guarantee there are people around the world who would have an interest in talking to you, whoever you are, about your experience, your background, your expertise.” *** Did you enjoy this post and its out-of-the-box networking tips? It originally appeared on the Blacklight, our weekly newsletter for professionals. At the Blacklight, we aim to illuminate with every dispatch that lands in your inbox. If you’re thirsty for guidance to help you slay it at work or as a student and move your goalposts closer, sign up today! The post Networking During a Pandemic appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
04 Jan 2021, 13:00
| FROM Stacy Blackman Consulting Blog: Exercises to Help MBA Applicants Develop a Personal Brand |
 Some b-school applicants balk at thinking of themselves as a “product” or ” personal brand.” However, by taking the time to really examine your personal qualities, values, and aspirations, you’ll ultimately be able to find out which MBA programs provide the best match for your unique profile. Think of it this way: If you had to create a marketing campaign for a new car, and you decided to focus on the vehicle’s seat warmers and sound system – when these days, potential customers are all about fuel economy – then your marketing messages would miss the mark. The pitfalls in formulating your personal brand messages for your MBA application are similar. Applicants should try three exercises to help them think like a marketing strategist, identify strengths, and develop a personal brand. Exercise 1: Create a “Brag Sheet” In the real world, the practice of bragging is generally frowned upon. For our purposes, it will help generate messages you will ultimately want to convey to the admissions committee. Begin by jotting down every possible unique, exciting, wonderful, dazzling thing you can think of about yourself. Think of it as “brag-storming.”  Don’t worry about anyone seeing your list. Also, don’t try to do this exercise in one sitting. Keep a notebook handy or start a memo on your smartphone, and write down ideas whenever inspiration strikes. This list will do more than jog your memory. It also helps you realize that your hobbies, travels, volunteering, and personal or family life experiences can provide the raw material for brand messages and eventually essays. Admissions committees seek out well-rounded candidates. These people have experienced life, pursued their passions, and achieved as much outside of the professional setting as within it. The brag sheet idea emerged after months of working with a client who insisted he had nothing interesting going on besides work. Just days before the application due date, he casually revealed he had a deep, lifelong interest in martial arts. However, he considered this topic inappropriate for a b-school application. We disagreed. Weaving in this aspect balanced out a work-heavy application and added a lot of color and interest to his profile. Now, we always have clients do a brain dump of everything under the sun. That way, these types of stories don’t slip through the cracks. Exercise 2: Generate Stories In our work with applicants, we’ve learned that it’s better to sift through an array of life experiences and see what emerges as a core strength, rather than lead off with what clients perceive as their strengths and then try to find example stories that back those up. You don’t need to actually write the stories at this time— start by scratching out a few notes. Things like “how I overcame a speech impediment,” “the time I backpacked through Asia for six months on $2,000” or “Have worked in the family business since I was 14 years old,” is fine. To get the wheels turning, consider personal and/or leadership achievements in and outside of work. Think of times when your actions made an impact on a person or group. Remember those instances when you motivated others, or a time you solved a problem with ingenuity. Don’t be afraid to touch upon setbacks or failures. After all, your strategies for overcoming them may be the best indicator of your future success in the business world. How can you determine whether a story is worth fleshing out? See if you can list the concrete actions you took and the results you achieved. The actions you took reveal your approach to a particular problem and provide clues about your strengths, capabilities, and character. The results indicate that your actions made a difference.  Exercise 3: Mine Stories for Strengths Once you’ve winnowed down your list of stories, it’s time to figure out precisely which aspects of your skills, talents, strengths and character contributed to your accomplishments. Ask yourself how this experience shaped your life and made you stronger. Or, think about which strengths, talents or attributes helped you make a difference. These answers will add to the pool of potential brand messages that you might highlight in your application and essays. We had a client applying to HBS who wanted to write about his organizational skills as a core strength. Instead, we advised him to write about his ability to lead and inspire others. After all, he had written on his brag sheet about developing a program to provide vaccinations to the poor in underdeveloped countries—an enormous undertaking he developed from scratch. Sure, his organizational skills helped. But the latter strength was more compelling, and it rose to the surface after viewing his stories. As with a traditional marketing plan, the goal is to launch a product thoughtfully and effectively. In this case, the product is you. The goal is self-awareness, and combing through your list of accomplishments can be an enormous help. Once these elements have been clarified, you can effectively put your best MBA strategy into action. The post Exercises to Help MBA Applicants Develop a Personal Brand appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
05 Jan 2021, 11:00
| FROM Stacy Blackman Consulting Blog: HBS 2+2 Program for College Seniors: How to Get In |
 What comes to mind when you think of business these days? If it’s the stereotype of the grey flannel suit and traditional office environment, then Harvard Business School wants to have a word. To reach college seniors —particularly liberal arts students—HBS launched the 2+2 Program back in 2007. This deferred admissions program targets students who might have otherwise never considered business school. Candidates apply in their senior year of college, and once admitted, work for two years before starting the Harvard MBA program. Graduate students who went directly from undergrad to grad school are also eligible. At SBC, our team includes the former HBS Associate Director of MBA Admissions who helped launch the 2+2 Program targeting college seniors. She explains that the program is all about getting the word out regarding what a graduate business degree can offer. Potential 2+2 candidates may have had few mentors in business. Or, an MBA degree might not be on their radar given their current course of study. “No one ever tells undergrads that business involves areas like nonprofits, government, education and social enterprise,” she says. What should college seniors know about the 2+2 Program? To be considered for admission to the 2+2 Program Class of 2025 (entering fall 2023), you must graduate from your program between October 1, 2020 and September 30, 2021. Your GMAT or GRE test score can be dated no earlier than April 30, 2016. If you wish to take the online GMAT, you must take it no later than one week prior to the submission deadline (April 22, 2021), as this version of the test requires one week for scores to be issued. College seniors outside the US. are welcome to apply. If you are an international applicant attending a non-English speaking undergraduate university, you will need to submit a TOEFL, IELTS or PTE score taken after January 1, 2019. HBS will accept the at-home or online versions of these tests. The 2+2 application is essentially the same as the online application for the traditional full-time MBA program. It has a reduced application fee of $100 vs. the $250 fee for non-2+2 applicants. Note that HBS offers a need-based 2+2 application fee waiver. This waiver is available to all 2+2 applicants for whom the fee presents a financial burden (this includes domestic and international applicants). Notably, 2+2 applications have only one deadline: April 29, 2021. This allows you to submit fall semester grades for consideration. Interviews and decisions happen in May. Although the name implies a two-year work period prior to the MBA, it’s actually more flexible. In fact, the school says in many cases they allow 2+2 admits to defer for three to four years in an HBS-approved professional opportunity. “They always approve a third year of deferral if you are working on something reasonable, i.e. not laying on a beach in Bali,” says our HBS insider.  What is HBS looking for in 2+2 applicants? If you check out the 2+2 class profile for the 2020 cohort, the educational background breaks down as follows:
“Traditional applicants were not initially the main target of this program,” our SBC expert shares. “They are looking for all the same qualities and credentials as they do for the regular pool. But then they’re also looking for scientists, engineers, techies, and entrepreneurs, to name a few.” “They really hoped they would find young people who saw the deferred admission as an opportunity to take a risk and do something a little bit off the beaten path.” Therefore, traditional applicants should embrace the “untraditional” side of their personal story. Rest assured, it can be done. As an example, check out our client case study that highlights the successful 2+2 application journey of Anita, an Economics major from Northwestern University. “For the rest, you want the things that 2+2 is looking for to be the focus – science, engineering, entrepreneurship, risk-taking, etc.,” our HBS insider advises. “It’s ok to get dorky in these areas and go deep.” If you are considering the HBS 2+2 Program and need input from an expert sounding board, we’re here to help! Reach out to set up a complimentary assessment of your candidacy today. The post HBS 2+2 Program for College Seniors: How to Get In appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
06 Jan 2021, 08:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Episode #37: A Real Application Review (part 2 of 2) |
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What in the world happens during an AdCom review of an applicant’s materials? What kinds of things do they consider, and how do they approach the different aspects of a candidates’ materials? In this episode of the B-Schooled podcast, we share all the details about another former Stacy Blackman Consulting client. (You can catch Part 1 here.) We’ll explain how the former admissions committee members on our staff assessed his candidacy, and what ended up happening. Listen to B-Schooled episode #37 here, or on any of the podcast apps listed below. B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Episode #37: A Real Application Review (part 2 of 2) appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
08 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: How Should You Use MBA Rankings? |
Yet, we encourage clients not to focus heavily on rankings when making their MBA program selections. In fact, placing an outsized emphasis on rankings often becomes a distraction for some applicants. Prospective students would do well to focus more on each program’s culture, size, or the strength of its alumni network. If you’re thinking about business school, you should decide the factors that will play a role in where you apply. Consider cost, location, program specialties, faculty’s areas of expertise, and so on. Keep these factors in mind as you research specific programs. This will help you home in on the ones that fit you best. “Applicants see an MBA as a long-term investment in their future,” says Beth Tidmarsh, a former Kellogg School MBA Admissions Officer, now on the Stacy Blackman Consulting team. Most likely, your list will contain a few under-the-radar programs that aren’t at the top of the rankings—provided, of course, that reputation isn’t the only factor that matters to you. Look at data points that are important to your own career path when determining the value of a particular ranking. However, know that if you aspire to a highly competitive position in banking or consulting, a potential employer will likely give an advantage to an applicant from one of the elite schools. Like it or not, that’s the reality in those industries.  That said, we think ranking methodology would be improved by including measures that encompass diversity dimensions such as non-traditional industry students (or career goals) and social impact-oriented students/career goals. MBA Rankings in an Exceptional Season As Find MBA recently noted, business school rankings provide only a limited snapshot of a much larger picture. “Many students have jobs working for social good, which do not always have high salaries but are rewarding in other ways,” says Caryn Beck-Dudley, president and CEO of AACSB International. “The geographic location and cost of living can distort salary reports as well.” “Too narrowly defined methodologies don’t allow for the intricacies of each program to truly shine, and thus can’t give an accurate representation of what the program can do for the learners.” —Caryn Beck-Dudley Given the current state of the COVID-19 pandemic, several schools have opted to forgo participating in MBA rankings this year. We understand and support this decision. Schools shouldn’t be distracted by secondary priorities such as rankings. . At this critical moment, they must focus on program quality and students’ needs and safety above all else. Ultimately, you should choose a program you genuinely connect with. Don’t worry about whether you’ll get into “the best MBA program of all.” Figure out which business school is the best one for you. The post How Should You Use MBA Rankings? appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
11 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: Stanford’s Deferred MBA Program: Get Accepted |
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[img]https://www.stacyblackman.com/wp-content/uploads/Stanford-GBS-Knight-Management-Center-734x486.jpg[/img] [list] [b]Stanford’s Deferred MBA Program launched in 2010.[/b] [/*] [b]Like the HBS 2+2 Program, it seeks to identify and cultivate the next generation of global leaders.[/b] [/*] [b] Our college senior admits say that they have great job opportunities in the two years leading up to their MBA program because of their early MBA admit.[/b] [/*] [/list] Stacy Blackman Consulting has several consultants exclusively dedicated to college senior clients during the first quarter of every year. Their expertise runs deep for the deferred MBA admissions programs across our client pool. In fact, one of the founders of the HBS 2+2 program is now an [url=https://www.stacyblackman.com/consultant/andrea/]in-house advisor at SBC[/url]. A recent college senior client, who we absolutely loved guiding, agreed to share her deferred MBA admissions experience with SBC’s readers. One of our most experienced consultants was dedicated to this client’s success through SBC’s [url=https://www.stacyblackman.com/comprehensive-services/]All-In comprehensive services[/url]. Their focus on strategic positioning included finding ways to meaningfully support the client’s career aspirations using evidence and rich storytelling. Her SBC consultant commented, “We worked hard and took an unusual angle that ended up working well. She’s a very bright woman and highly motivated. I hope she has a wonderful experience at b-school.” We hope you enjoy this exclusive interview with an inspiring young professional who got admitted to Stanford’s deferred MBA program. [b]How did you hear about the deferred MBA program?[/b] I attended Harvard Business School’s Peek Weekend the summer after my junior year, where I learned about HBS’s 2+2 program. After some googling, I saw other schools also offered deferred MBA programs, including Stanford. [b]What made you decide to apply for deferred MBA programs? [/b] I always wanted to get a graduate degree. As my career evolved, I found myself going down the path of private equity, and an MBA seemed like the most relevant degree to get. One of my tenets in life is “frontloading is key.” So, securing early admission to a program was right up my alley. That way, I don’t have to worry about admissions later. I graduated a semester early in December 2019, and then COVID hit in the spring. Suddenly, any traveling plans I had vanished. I took advantage of all the time I had left over and used it to prepare my applications. [img]https://www.stacyblackman.com/wp-content/uploads/COVID-travel-pexels-anna-shvets-4167559-734x665.jpg[/img] To be completely honest, I don’t have a great concrete reason for getting an MBA. I think the conventional reasons for getting an MBA are definitely beneficial (for networking, resume prestige, learning skills, etc.), but I think I am just most drawn to the personal development I’ll get out of the degree. As with many type-A students and high-achievers, we never stop to evaluate the reason why we work so hard. The MBA program will be a great time to reflect on my sense of purpose and motivation for why I do things. Hopefully, that will also help me determine longer-term career goals. The great thing about deferred MBA programs is that you get access to an amazing network of the most interesting, smart people you’ll ever meet—years before you even start your MBA. Connecting with these people early on has enabled me to jump-start that self-reflection process by learning from others. That’s a huge benefit of the deferred programs that I think isn’t discussed enough. [img]https://www.stacyblackman.com/wp-content/uploads/Stanford-aerial.jpg[/img] [b]What do you feel allowed you to be successful with getting admits? Any suggestions on how to stand out?[/b] Maturity and self-awareness are key! Ultimately, your experiences probably aren’t that unique, given the huge number of applications programs will get every year. But it’s how you frame them, reflect on them, and use them to showcase yourself that will set you apart from others. Personally, I highlighted a few experiences that didn’t really seem like they tied together based on the subject. But I used it to show a facet of my personality. (When presented with opportunities in life, somehow, I always end up choosing the more challenging one). If you can [url=https://www.stacyblackman.com/differentiate-yourself-mba-admissions/]showcase your personality[/url] rather than your achievements on an application, I think that’s pretty impressive and memorable. [b]What advice or tips do you have for others applying to Stanford’s Deferred MBA program?[/b] First of all: [url=https://www.stacyblackman.com/finalize-your-list-of-target-mba-programs/]don’t be afraid to apply[/url]! Never in a million trillion years did I think I had a shot at getting into the GSB. But I applied anyway, just to prevent any sense of regret of not trying. And it worked out great. Even if you think you don’t have many concrete accomplishments under your belt, don’t fret. Imposter syndrome is real even for admitted students. Something really enlightening I heard from another admit is that Kirsten Moss (Stanford GSB Admissions Director) said they view applicants as a venture capital investment. The GSB is choosing [url=https://www.stacyblackman.com/guides/strategy/stanford/]a range of people to invest in[/url] because of their future potential to change the world. Perhaps they’ve already shown a history of doing so, but other times they haven’t. Instead, those applicants show a promising trajectory that they’ll get there in the future. Stanford cares a LOT that students have a genuine interest in making some larger, positive, social impact on the world. Yes, the point of business school is for your own career advancement. But GSB wants that career advancement to amount to broader social advancement, too. [img]https://www.stacyblackman.com/wp-content/uploads/clear-light-bulb-planter-on-gray-rock-1108572-734x490.jpg[/img] So, pick an industry that aligns with your past experiences and interests. Talk about why that’s important to you, what your career plans are in that space, and gently weave in how your career will have a ripple effect on the communities around you. [b]Any “don’ts…” to share? What should applicants for Stanford’s deferred MBA program avoid doing?[/b] Don’t go over the word limit on essays, send in additional materials/letters, etc. These are simple rules to follow! But do fill in all the essay/mini-essay sections that are available. Each response is a portion of the larger kaleidoscope that shows how interesting and 3D of a candidate you are. [b]Do you think the college senior round is more competitive?[/b] It’s hard to say. College applicants are definitely people who really have their s*** together. They’re able to pull all the application components together on a shortened and earlier time horizon (study for the GMAT, have strong enough relationships to warrant [url=https://www.stacyblackman.com/recommendation-letter-mba/]great letters of recommendation[/url], etc). But, they’ve also had [url=https://www.stacyblackman.com/younger-mba-applicants-readiness/]less time to accomplish things in life[/url]. This means the average of historical achievements is probably lower than if you look at a group of working professional applicants. I think there’s also something to be said for maturity level. Obviously, seniors, on average, are less mature than older working people. To have a successful application, you must have sharp self-critical and reflection abilities. Also, be unafraid to confront both the good and [url=https://www.stacyblackman.com/turn-failure-into-a-great-business-school-admissions-essay/]the ugly side[/url] of your personality and accomplishments. Use that self-awareness to construct the [url=https://www.stacyblackman.com/exercises-to-help-mba-applicants-develop-a-personal-brand/]best possible marketing package[/url] (your application) that you can. Overall, I don’t think it really matters how much more or less competitive the deferred MBA is. If you’re gunning for top programs, they will all be very competitive regardless of the year and the round and the group of people you go up against. If you are self-aware and can stay on the ball, I’d highly encourage applying for deferred MBA programs. Even if you don’t get in, you have many chances later to apply. Your GMAT will out of the way—or at least you’ll have a base score to work from. Plus, you’ll learn a lot about yourself through the application process. That’s good for self-maturation as well as informing your next round of apps. We hope you enjoyed this exclusive interview with an inspiring young professional who got admitted to Stanford’s deferred [url=https://www.gsb.stanford.edu/programs/mba/admission/application/deferred-enrollment]MBA program[/url]. Check out our How to get into HBS 2+2 overview [url=https://www.stacyblackman.com/blog/hbs-2-2-harvard-program-college-seniors/]here[/url]. Additional college senior tips can be found [url=https://www.stacyblackman.com/top-deferred-mba-programs-mba-without-work-experience/]here[/url]. The post [url=https://www.stacyblackman.com/stanfords-deferred-mba-program-get-accepted/]Stanford’s Deferred MBA Program: Get Accepted[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/-htSWr0l1j8[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
13 Jan 2021, 08:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Podcast Episode #38: For Waitlisted Candidates |
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MBA candidates who’ve been waitlisted can feel like they’re in some sort of admissions purgatory. In this episode of B-Schooled, our host Erika and her fellow SBC consultant and former MBA admissions director Lisa discuss what options waitlisted candidates have to learn more about why they were waitlisted and what, if anything, they can do to increase their chances of admission. Listen to B-Schooled episode #38 here, or on any of the podcast apps listed below. And don’t forget to enjoy the holidays amidst all your application work! B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Podcast Episode #38: For Waitlisted Candidates appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
14 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: Kellogg Interview: Format, Criteria + Sample Questions |
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[img]https://www.stacyblackman.com/wp-content/uploads/kellogg-interview-advice-1-734x413.png[/img] Northwestern University’s [url=https://www.stacyblackman.com/mba-application-advice/northwestern-kellogg/]Kellogg School of Management[/url] has created arguably the most collaborative culture of all the MBA programs. The single most important question your Kellogg interview must answer is whether you will fit in with the school’s team-oriented, “give more than you take” culture. The full-time MBA program also stands out from other elite business schools in that it seeks to interview every applicant. It achieves this impressive feat by tapping into its global network of more than 65,000 alumni. Kellogg extends this unique opportunity to learn more about each candidate beyond what they see on paper. If you’re preparing for your Kellogg interview, read on for SBC’s expert insider advice, culled from three former Kellogg admissions officers who are now on our SBC team: [url=https://www.stacyblackman.com/consultant/caryn/]Caryn[/url], [url=https://www.stacyblackman.com/consultant/beth/]Beth[/url], and [url=https://www.stacyblackman.com/consultant/colette/]Colette[/url]. Each of these experts conducted Kellogg interviews and made candidate admit decisions across thousands of applicant cases. [email=info@stacyblackman.com]Contact us[/email] today to request availability for interview prep with one of our Kellogg admissions experts. [img]https://www.stacyblackman.com/wp-content/uploads/Kellogg-Adcom-1-734x328.jpg[/img] Kellogg Interview Format Kellogg interviewers are a mix of AdCom (Admissions Officers), students, and alumni. The interviewer does not read your application file and will see only your resume before the interview. Interviews are a mix of resume review, career goals, and “why an MBA?” components, along with a behavioral question or two. Career focus is key. Do the career goals make sense? Are they realistic and well-thought-out? Is the need for an MBA clear? These days, they often include a question that will touch on diversity. For part of the interview, Kellogg uses the [url=https://blogs.kellogg.northwestern.edu/inside/2019/08/23/mba-application-interview/]behavioral[/url] interview style – especially focusing on bringing out examples of teamwork and leadership. “I would always ask a couple behaviorals around leadership, teamwork, dealing with difficult teammates, etc. Knowing and utilizing [url=https://www.stacyblackman.com/star/]STAR[/url] is definitely the way to go,” shares Colette. Fellow Kellogg expert Caryn agrees, saying that “the STAR method is still the gold standard for answering behavioral type questions.” Several of our recent clients mentioned feeling like the vibe of Kellogg’s interviewers was more “business-like” than other schools. However, they did warm up and become more casual during the Q&A toward the end of the interview. Interviews are consistently around 30+ minutes. It’s rare to spend an hour interviewing via Zoom. One of our former Kellogg admissions officers says, “For an admission officer interview, about 30 minutes is the norm, sometimes inching up to 40. I once did one in 20 minutes (the interviewee wasn’t talkative at all), but I always try to commit to 30 plus minutes… even if I was asking what color the sky was to keep up the conversation!” [img]https://www.stacyblackman.com/wp-content/uploads/Kellogg-Global-Hub-1-734x513.jpg[/img] Kellogg Interview Evaluation Criteria We asked Beth, who left her Kellogg MBA admissions officer role several years ago, about evaluation criteria. Beth shared with us that Kellogg had moved on from the 2 number/5 point rating scale in the last five years. The new evaluation format for Kellogg interviewers is a drop-down menu, with terms like: [list] [*]Strongly recommend[/*] [*]Recommend[/*] [*]Do not recommend[/*] [*]Strongly do not recommend[/*] [*]Anything miscellaneous[/*] [/list] The Kellogg interview evaluation criteria encompasses the following categories. [b]Career Path and Career Plans[/b] [b]Tips:[/b] Merely demonstrating the ability to perform the tasks associated with your position successfully won’t suffice to get you into Kellogg. Instead, you will need to reveal to your interviewer that you have taken the initiative to solve problems at work, pursued leadership opportunities, advanced at a rapid rate, and so on. You can also use career-related questions to discuss the steps you’ve taken to reach your larger career goals. When your interviewer asks questions about your career-to-date, share your story. Don’t just reiterate what’s already on the page. Instead, craft a narrative highlighting which of your roles and responsibilities have prepared you for your larger career goals. Use this opportunity to explain how a Kellogg MBA will help you address specific gaps in your professional experience [b]Academic/Intellect[/b] [b] Tips:[/b] An impressive undergraduate GPA and high GMAT or GRE scores gives the admissions committee an idea of your intellectual capacity. But they don’t tell the whole story. Therefore, your interviewer will ask questions designed to examine your love of learning and your creativity. Do you follow your passions, even if they may not help you get ahead in your career? Do you find a way to integrate what you learn from those passions into your professional and personal life? Your interviewer will also ask questions designed to get the “inside story” on what has driven some of your big life decisions so far – another method of uncovering your passions and witnessing your intellect in action. [b]Communication and interpersonal skills[/b] [b]Tips[/b]: In any discussion of Kellogg’s MBA program, one of the first words you will hear is “teamwork.” So, it should come as no surprise that your interviewer will assess your interpersonal skills. “People who work best in solo settings, owning just their own work, will not be comfortable in Kellogg’s highly collaborative atmosphere,” says SBC consultant Caryn. Also, you’ll want to come prepared with stories of how you’ve managed conflict in group situations. Try to convey that you feel comfortable playing many roles in team settings: leader, collaborator, mediator. Remember, whether you’re interviewing with a current student member of the admissions committee or with an alum, they will be thinking, “Would I want to work in a group with this person?” [b]Extracurricular involvement and leadership[/b] [b]Tips:[/b] Each of us forms a part of several communities—both inside and outside of work. Those who have a habit of leadership ask themselves, “How can I make this community stronger?” In other words, they engage with the community and enlist others’ help, taking a leadership role to make a lasting impact. Think about examples from your experiences, possibly draw on the leadership you’ve demonstrated in your extracurricular activities or through volunteering. This can help reveal more of your passions and personality to your interviewer. [b]Kellogg knowledge[/b] [b]Tips:[/b] Your interviewer will want to understand which of your unique attributes will allow you to make a lasting impact on the Kellogg community. Let your enthusiasm for Kellogg shine through. If you could substitute the name of any other top business school with your answer, then it won’t convince your interviewer that you can impact Kellogg specifically. SBC consultant Caryn echoes this advice. “Do your research! As Kellogg has two interview components (video and live), you have a tremendous opportunity to display your in-depth knowledge before the Kellogg admissions committee.” [img]https://www.stacyblackman.com/wp-content/uploads/Kellogg-Global-Hub-2-1-734x490.jpg[/img] Sample Interview Questions Preparation is key to a successful Kellogg interview. Expect that the interviewer will ask you a high volume of very specific questions in an attempt to determine your fit with Kellogg. Make sure to have a number of detailed examples in mind. So far this season, our clients have answered a sampling or combination of questions, such as: [list] [*]Why do you want to get an MBA?[/*] [*]Why Kellogg?[/*] [*]What are your short and long-term goals? How does Kellogg get you there?[/*] [*]What do you foresee to be your biggest challenge in an MBA program?[/*] [*]Walk me through your resume.[/*] [*]Tell me about yourself.[/*] [*]What is your favorite part of your current job?[/*] [*]What was your biggest accomplishment in your current role?[/*] [*]Walk me through a typical week in your role.[/*] [*]Talk about a team situation where differences existed between team members.[/*] [*]Tell me about a time you had to pick yourself back up.[/*] [*]Tell me about a time you worked in a team with a group of people from diverse backgrounds. What challenges did you face? Share some of the rewarding aspects of the experience.[/*] [*]What clubs/activities would you get involved in?[/*] [*]In your last performance review, what were three positive pieces of feedback your manager gave you? And, what are two areas they want you to improve on?[/*] [*]What is one weakness the AdCom might see in your application? What strengths would you most want to highlight? [/*] [*]Is there anything we didn’t cover that you would want the AdCom to know about?[/*] [*]Any questions for me?[/*] [/list] [b]Get prepared![/b] Our SBC clients usually take 1 to 2 hours to get prepared for their Kellogg interview. [url=https://www.stacyblackman.com/contact-sbc/]Contact us[/url] today to request availability for interview prep with one of our former Kellogg Admissions Officers. Availability varies depending on the stage of the season. The post [url=https://www.stacyblackman.com/mba-kellogg-interview-format-criteria-sample-questions/]Kellogg Interview: Format, Criteria + Sample Questions[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/ZLa-BxADPoo[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
15 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: How Self-Doubt Can Stall Your Career |
 “FRESH IDEAS FROM THE BLACKLIGHT” SBC’s Weekly Newsletter for Professionals Even the most prepared and accomplished professionals experience periods of self-doubt. Often, these feelings work on a subconscious level. But if left unaddressed, they can limit your potential and can even sabotage your career. For some, the root of self-doubt lies in fear of failure. Others, meanwhile, have a fear of success. So, whether you suffer from full-blown impostor syndrome or need a gentle reminder to push past your insecurities, these proven tactics can help you own your achievements. Doubt kills more dreams than failure ever will. —Suzy Kassem Conquering Self-Doubt Ellen Taaffe, assistant professor of leadership at the Kellogg School of Management, has learned how to manage her self-doubt over a long career in brand marketing. Taaffe offers three tips in Kellogg Insight for how to act decisively, even when you feel out of your league. Tip 1: Don’t stay in the role of observer. Often, the default response in the face of insecurity is to watch the action from the sidelines. Either you’re afraid of making a mistake or feel unqualified to dive in. Taaffe warns against this tendency to hang back and observe. “Staying silent is a self-protection mechanism, but it’s not the best choice.” Instead, she suggests launching in as early as possible. Moments of career transition, such as starting a new job or managing a team for the first time, are ideal times to put this into practice, Taaffe explains. By shifting your perspective from “I don’t know this yet” to “I’m learning here,” you bring fresh ideas to the conversation, she adds. “The more you chime in,” says Taaffe, “the more comfortable you will feel the next time.” Tip 2: Take a cue from those around you. Self-doubters tend not to go for a promotion or head up a project unless they feel 100% qualified. Research shows that men are more likely to throw their hat in the ring for a promotion—even if they don’t quite meet the job description criteria. On the other hand, women often want to feel completely capable of doing the job before they apply.  Overcome your self-doubts by looking at how other people at your company have accepted a stretch assignment and succeeded. Stretch assignments get you noticed and put you in the spotlight in the eyes of management. While there is the potential to fail, more likely, you’ll see a positive impact on your career advancement by taking that risk. “It’s easy to forget that all of us are hired or promoted due to our potential to learn the role versus already being able to do it at an A+ level,” says Taaffe. “If we hold ourselves to a higher bar than others and as a result do not pursue bigger opportunities, we can get left behind, even in roles where we could have developed and excelled.” Tip 3: Watch your language. Your word choices and communication style can telegraph your self-doubts to the world. Common blunders include speaking too fast and using filler words and phrases, such as “you know,” “um,” “uh,” and “like.” Then, there’s the tendency to end a sentence on a higher octave, making it sound like a question rather than a statement. Taaffe recommends avoiding rhetorical questions or opening qualifiers. Phrases like “Does that make sense?” or “This may be a bad idea but…” signal doubt, she explains, and makes listeners think that the statement is less worthy of consideration. Instead, Taaffe suggests using “more confident-sounding open-ended questions, such as ‘What are your thoughts?’ or ‘What questions do you have?’.”  Another helpful trick is to record yourself speaking in a mock presentation or answering job interview questions. That way, you can spot and analyze those verbal ticks. You may cringe while reviewing it, but you’ll also learn at once where you need to improve. Finally, seeking feedback from a supervisor might put an end to a lot of the self-doubt you feel. Hearing the unvarnished truth from a trusted friend or mentor can offer much-needed clarity. Also, Taaffe says, “It can act as encouragement to monitor your own behavior and give you a confidence boost that acts as a kind of permission to jump right in and not hold back.” *** Did you enjoy this post and its tips to conquer self-doubts? It originally appeared on the Blacklight, our weekly newsletter for professionals. At the Blacklight, we aim to illuminate with every dispatch that lands in your inbox. If you’re thirsty for guidance to help you slay it at work or as a student and move your goalposts closer, sign up today! The post How Self-Doubt Can Stall Your Career appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
19 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: Is an MBA Worth It? Here’s Your Checklist |
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[img]https://www.stacyblackman.com/wp-content/uploads/spiral-number-heart-symbol-circle-help-932567-pxhere.com_-734x551.jpg[/img] [list] [*]Block out the noise[/*] [*]See the big picture[/*] [*]Consider your values[/*] [*]Look at costs and financial aid[/*] [*]Know that brand matters[/*] [*]Adjust by location[/*] [*]Define your priorities[/*] [/list] [b][img]https://www.stacyblackman.com/wp-content/uploads/Is-an-MBA-worth-it-Value-of-MBA-checklist-SBC-369x734.jpg[/img] Step 1: Block out the Noise[/b] Young professionals have always evaluated the worth of embarking on a two-year MBA program. This value analysis typically happens well before they commit to the MBA application process. Media outlets from Forbes to the Wall Street Journal sometimes promote a one-size-fits-all approach when speaking about whether the MBA is worthwhile. Even Elon Musk recently got in on the conversation, criticizing the MBA degree to generate headlines or for virtue-signaling. What Musk and the media writers often have in common is that they don’t break down the MBA decision according to the individual’s priorities, aspirations, and desired MBA programs. For example, an MBA from a random, unranked university has nowhere near the same value as an MBA degree from Harvard, HBS. [b]Step [/b][b]2: [/b][b]See the Big Picture[/b] Most top MBA applicants are, by nature, diligent and analytical. So, logic suggests MBA aspirants would always calculate return on investment (ROI) based on costs, tuition, short-term salary potential, etc. Yet, in our two decades of experience, we see that top-tier MBA applicants usually do not run such calculations. Here’s why. So many variables of the “Is the MBA worth it?” analysis are qualitative. For example, you can’t assign an absolute value or number to the networks and prestige afforded by an elite MBA brand. In fact, the spreadsheets we have seen across thousands of applicants aren’t about the ROI of MBA programs at all. For example, applicants rank HBS or Wharton a “10” for career potential. Our client pool focuses much more on “Do I have a chance of getting in?” or “What are my admit odds for a top 10 MBA program?” They are not at all interested in a cost/ benefit analysis of the MBA degree itself. [b]Step [/b][b]3: Consider Your Values and Aspirations[/b] Most high-performing MBA applicants we work with are aspirational and focus on the qualitative upsides of the MBA experience. “I think the conventional reasons for getting an MBA are definitely beneficial,” a recent Stanford GSB admit that we worked with says. “But I think I am just most drawn to the personal development I’ll get out of the degree. As with many type-A students and high-achievers, we never stop to evaluate the reason why we work so hard. The MBA program will be a great time to reflect on my sense of purpose and motivation for why I do things. Hopefully, that will also help me refine longer-term career goals.” Business school aspirants know that top MBA programs have a wealth of resources to ensure they will stay at the forefront of industry developments. “Many MBA students have mesmerizing visions for their future,” says Stacy Blackman, President of Stacy Blackman Consulting. “As such, MBA hard costs are truly trivial relative to their grand professional goals.” [b]Step 4: [/b][b] Look at Both Cost and Financial Aid[/b] The face value of this degree is easily over $100,000, making the question “Is an MBA worth it?” a vital one. But, we recommend looking at adjusted costs after financial aid or scholarship. Let’s look deeper: Costs vary by program and are adjusted once you factor in scholarships and financial aid. For example, HBS emails this explainer to prospective MBA applicants: “HBS offers admission to the strongest applicants without any knowledge of their financial situation. In return, students are expected to take responsibility for the expense of earning the degree and determine how best to pay for their studies. Taking the responsibility for the financial aspects of earning an MBA is a fundamental part of each student’s obligation.” “Students are encouraged to draw on personal resources wherever possible to minimize debt,” writes HBS admissions. HBS shared in an email to a prospective MBA student, “approximately two-thirds of HBS students receive some assistance.” [img]https://www.stacyblackman.com/wp-content/uploads/HBS-financial-aid.png[/img] MBA programs guide post-admit financial aid resources. To illustrate cost and aid scenarios, see the one-year cost analysis summary at the left from the [url=https://www.hbs.edu/mba/financial-aid/tuition-assistance/Pages/cost-of-attendance.aspx]HBS site[/url]. Across our client pool, we have seen many applicants receive [url=https://www.stacyblackman.com/mba-scholarship-trends-m7-schools/]full-ride scholarships[/url]. Any scholarships extended along with the initial offer of admission are the best way to defray tuition costs. Once you submit your application, it is automatically considered for a scholarship based on school-specific criteria. But fierce competition exists for these fellowship and scholarship dollars. [b]Get the Insider Edge[/b] The SBC team has former Admissions Officers (AdCom) from every top program, including HBS, Stanford GSB, and Wharton. We know how to help applicants build a strong pitch for why they deserve a coveted spot in the program. That pitch should be clear and compelling enough to generate both an admit outcome and scholarship generosity. Is an MBA worth it? “Our clients receive literally hundreds of thousands in financial aid every year,” says Blackman. “We hit close to $4.8 million from last season, and 25% of clients received scholarships last year based on the high quality of their applications.” Laura, a recent SBC client, shared her scholarship outcomes that resulted from an optimal application strategy. “I am an international applicant with a non-traditional background. I applied to several programs last year but failed to get admittance. Before approaching SBC, I did not understand my strengths or feasible career goals because I didn’t know the vast MBA applicant landscape. Through the all-in engagement with the SBC team, I was admitted to two schools with a large amount of scholarship to cover 50-80% of the tuition,” Laura says. [b]Step 5: Know That Brand Matters [/b] Lately, there’s more emphasis on the MBA program’s rank, especially within the traditional cohort of finance and consulting applicants. MBA demand has surged since the COVID-19 pandemic started. Opportunity costs have diminished in these tenuous economic times, and applicants have become more willing to leave their positions for reputable MBA programs. A former MIT Admissions Officer on the SBC team shares, “Those top MBA programs will give the best and the brightest access to the top employers, top salaries, and fantastic networks. All of that is very valuable.” “There’s no better example than one of our female candidates this past season,” says Esther Magna, Principal at Stacy Blackman Consulting. ”She received scholarship dollars to many top MBA programs, including a 100% scholarship to an M7 program. She declined the free tuition at two other programs ranging between $100,00-$200,000 and instead chose Wharton, where she will pay the full tuition. The Wharton brand, for her specific career path and ambitions, was that valuable.” Blackman concurs, adding that “MBA applicants are more focused on MBA program brand now than ever before. Brand predicts rigor of student peer group, enhanced legitimacy of the degree, and long-term professional networks.” [b]Step 6: Assess Worth by Location and Program Type[/b] The program’s location should also influence your decision. “Geography is key, especially for international candidates but also to an extent US candidates,” says Christine Hawkins, a London-based Senior Consultant on the SBC team. [b][img]https://www.stacyblackman.com/wp-content/uploads/pexels-andrea-piacquadio-3769138-734x481.jpg[/img] [/b] Post-MBA career preferences should drive location choices. For example, a professional who wants to work in the US should focus on US MBA programs. Likewise, an applicant interested in the EU for post-MBA work should look into INSEAD and LBS. “Think carefully about where you plan to be long-term. Consider the reputation and the network of each program in your target geography, both now and where you believe it will be in 10 or 20 years,” Christine advises. Also, career location outweighs program length. Note that one-year programs often lack summer internships, so there isn’t a “better” format between the one year vs. two years. Instead, it is about the individual candidate’s profile and priorities. [b]Step 7: Define MBA Worth by [/b][b]Your [/b][b]Priorities[/b] “With our clients, we really dig into actual career goals in deciding which MBA program applications are worth pursuing,” shares Caryn Altman, a Senior Consultant on the SBC team. “We do an in-depth discussion of post-B-school location preference, as that can be a huge factor. We counsel our clients to network with those who have an MBA in the chosen field so they can frame not only short-term career placement but also longer-term career trajectory and the importance of a particular MBA program in their successes. Also, we encourage our clients to engage with current MBA students to define the MBA’s value for their needs further.” [img]https://www.stacyblackman.com/wp-content/uploads/sign-you-have-been-looking-for-734x531.jpg[/img] The MBA’s worth depends entirely on your professional profile and career aspirations and what you do once you are at the program. Fit with and performance at the program are essential. For example: [list] [*]a low-performing Wharton student won’t get the full ROI from the program [/*] [*]a high-performing Cornell student who hustles to get the right-fit summer internship at an elite company will enjoy a great ROI for his or her MBA experience[/*] [*]a liberal-arts-educated applicant who needs the MBA to learn hard skills will find a strong ROI at almost every top 20 MBA program[/*] [*]a healthcare-minded professional who uses the specialized healthcare experts/coursework—at Wharton’s Healthcare Management program or the comparable at Duke Fuqua—will create incredible professional opportunities regardless of the specific ranking of the program for a given year[/*] [/list] If you have completed this checklist and feel inspired to embark on the MBA journey, then go for it! Contact us for a free candidacy evaluation [url=https://www.stacyblackman.com/contact/]here[/url]. The post [url=https://www.stacyblackman.com/is-an-mba-worth-it-heres-your-checklist/]Is an MBA Worth It? Here’s Your Checklist[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/ckusVcuy-Jg[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
20 Jan 2021, 08:00
| FROM Stacy Blackman Consulting Blog: B-Schooled Podcast Episode #39: Deciding Between MBA Programs |
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Are you in the extraordinarily enviable position of having to decide between two or more MBA programs? (If so, congrats! That’s HUGE — this year, especially.) Now that you’ve pulled off such a miraculous feat, are you nervous about your choice or unsure of how to go about making such a huge commitment? Well, never fear, for this episode of B-Schooled pulls together advice from the entire Stacy Blackman Consulting staff on how to approach this decision and what factors to consider (both short-term and long-term). Listen to B-Schooled episode #39 here or on any of the podcast apps listed below. B-Schooled is available on most major podcast apps, including: Apple Podcasts Spotify Stitcher TuneIn Please be sure to subscribe to B-Schooled so that you don’t miss a thing. If there’s something you’d like for us to cover in a future episode, please email podcast@stacyblackman.com. We’d love to hear from you! The post B-Schooled Podcast Episode #39: Deciding Between MBA Programs appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
21 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: HBS 2+2 Deferred MBA Program: Get Accepted |
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[img]https://www.stacyblackman.com/wp-content/uploads/HBS-sign-734x490.jpg[/img] Stacy Blackman Consulting has several consultants exclusively dedicated to college senior clients during the first quarter of every year. Their expertise runs deep for the deferred MBA admissions programs across our client pool. In fact, one of the founders of the HBS 2+2 program is now an [url=https://www.stacyblackman.com/consultant/andrea/]in-house advisor at SBC[/url]. A recent 2+2 client who worked comprehensively with one of our college senior experts agreed to share her experience applying for the HBS deferred admissions program. She put herself in her own shoes and thought about what would have helped her back when she applied. Her insights below are encouraging. Enjoy this interview, and reach out if you’d like feedback on your deferred MBA program admission chances. You can inquire about availability for comprehensive All-In support from one of our college senior admissions experts [url=https://www.stacyblackman.com/contact-sbc/]here[/url]. How did you hear about the deferred MBA programs? I found out about deferred programs while doing online research about MBA programs toward the beginning of my senior year. At that point, I had no idea that deferred programs existed for college seniors. I was just looking ahead at my future career options, which I thought might involve an MBA. A couple of weeks later, I saw that HBS was hosting a 2+2 info-session at my university. Attending that gave me more insight into the program and process. What made you decide to apply for deferred MBA programs? Honestly, I was not 100% sure about applying until halfway through my senior year. The deferred programs seemed like a fantastic opportunity to secure my spot in business school while I pursued a more technical role in the short-term before pivoting to a more strategic / leadership-oriented position in a few years. I didn’t know if I was qualified enough to be admitted, given what I had heard about the programs’ competitiveness. After talking to some consultants, including my initial consultation with SBC, I gained a little more confidence in my profile. I learned that these programs welcomed students from STEM backgrounds. Plus, I realized that I really had nothing to lose. After all, I could always apply again in a few years if I didn’t get admitted. [img]https://www.stacyblackman.com/wp-content/uploads/HBS-classroom-WikiCommons-734x487.jpeg[/img] What do you think led to your admissions success? Any ideas of how to stand out—especially for HBS 2+2? One thing that helped me was sitting down to reflect on my path and taking time to connect the dots. Why did I pursue the internships and opportunities that I did in college? How did they relate to who I was and what things mattered to me personally? It ended up being an insightful and revealing exercise that helped me convey my story throughout my essays and interviews. What advice or tips do you have for others applying to the HBS 2+2 program? It is okay if you don’t know EXACTLY what you want to do in the future, post-MBA. I was hung up on this for a while in the beginning because I felt like I should only apply if I knew the answer to this question. You will probably have a couple of hypotheses for what you want to do. As you self-reflect, you will gain more clarity. Then, if you can pick one that really matters to you and aligns with your story, and that you can write about, run with it. You might change your mind in a few years, and that’s okay. But if you are passionate about it now, there’s a reason for it, and that will come through when you are writing and talking about it. Secondly, HBS lists out their evaluation criteria on their website, which are: 1) a habit of leadership (note: does not mean formal leadership titles only); 2) analytical aptitude and appetite; and 3) engaged community citizenship. Make sure that you’ve demonstrated each of these in some way or another across the entire application—from your resume to the essay to the short answers within the application itself. [img]https://www.stacyblackman.com/wp-content/uploads/Aerial_of_the_Harvard_Business_School_campus-1-734x487.jpeg[/img] What should applicants to HBS’s 2+2 MBA program avoid doing? Don’t underestimate yourself or compare yourself to others too much. Recognize that your values, your lived experiences, and your interests are what make you YOU. Focus on letting that shine through your application. And definitely don’t NOT apply because you feel like you’re not qualified enough. I could have missed out on getting admitted to HBS 2+2 had I let my initial self-doubts get the best of me. One thing that helped give me an extra boost of confidence to apply was telling myself that even just the application process itself was a tremendous growth opportunity—a chance to reflect and figure out my future goals. And it truly was a fantastic experience. I feel like a more self-aware person now than before I applied, and in the end, it worked out well! What networks or access does being an HBS 2+2 admit give you? Being a 2+2 admit means you are a part of the larger 2+2 community. This includes both current admits (for multiple years, since admits can defer for 2-4 years) and past 2+2 alumni. One of the first admit events HBS hosted was a panel with previous 2+2 students. We had the opportunity to hear their stories and ask them questions directly. You can also attend other quarterly events such as networking events and mock cases exclusive to 2+2ers. [img]https://www.stacyblackman.com/wp-content/uploads/Harvard-Business-School-Peek-Weekend-734x375.jpg[/img] Do you think the college senior round is more competitive? I’m no expert on this, but I think it’s competitive in different ways than the regular admission rounds. So, you can’t compare it in a straightforward way. In this round, all the other applicants are college students like you. This underlying similarity means that you’ve all had some of the same opportunities and experiences. It also means you need to demonstrate a strong commitment to and passion for your outside involvements. Explain why they made sense for you in light of your goals to “stand out.” The good news is, adcom understands that you are a college student. They don’t expect you to have the same level of accomplishments as someone who’s been out of college for a couple of years. In the regular rounds, the applicants might have had a bit more of a blank canvas to start with. They’ve had a greater variety of experiences that they can talk about, but that also means the standard is higher. Though I would reiterate not to let the competition scare you. Just focus on what you can control— building and communicating the strongest application you can. *** We hope you enjoyed this exclusive interview with an inspiring young professional who got admitted to the HBS 2+2 MBA program. Don’t miss our How to Get Into HBS 2+2 overview [url=https://www.stacyblackman.com/blog/hbs-2-2-harvard-program-college-seniors/]here[/url]. You can also read an interview from a successful Stanford GSB deferred MBA admissions client [url=https://www.stacyblackman.com/stanfords-deferred-mba-program-get-accepted/]here[/url]. Learn more about the deferred MBA program at Harvard on the 2+2 program [url=https://www.hbs.edu/mba/admissions/application-process/college-students-2-2/Pages/default.aspx]website[/url]. The post [url=https://www.stacyblackman.com/hbs-2-2-deferred-mba-get-accepted/]HBS 2+2 Deferred MBA Program: Get Accepted[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/ULToA1pzThI[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
25 Jan 2021, 06:00
| FROM Stacy Blackman Consulting Blog: How Has COVID Affected MBA Applicants? |
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COVID affected MBA applicants profoundly in 2020 and continues to do so as we enter the home stretch of this admissions cycle. It seems there’s nothing like a pandemic to spark interest in going to business school. [img]https://www.stacyblackman.com/wp-content/uploads/COVID-travel-pexels-anna-shvets-4167559-734x665.jpg[/img] MBA demand is countercyclical to the economy, as we witnessed following the [url=https://www.stacyblackman.com/insead-mba-crisis-time/]2008 financial crisis[/url]. Many young professionals see the MBA as an escape from unemployment or furlough status. But many of the applicants we’ve recently met say they need the sophisticated knowledge from a top MBA program to navigate the dynamic business changes ahead. MBA aspirants look to the degree to gain vital tools and frameworks to thrive in the radically-changing business landscape. Business schools are reimagining their approaches to technology, supply chain, and other disciplines, which is a considerable lure. It’s an exciting time for young, MBA-aspiring professionals. The career visions we have heard from recent applicants range from inspiring to jaw-dropping. Many view the 2023 and 2024 MBA class as symbolizing new beginnings and hope. How Has COVID Affected MBA Demand Long-Term? We predict the 2020-2021 application cycle will set records for interest in the top MBA programs. Also, the applicant pool’s caliber with respect to diversity, leadership, industry, and career visions will skyrocket. SBC has witnessed year-after-year growth in demand across our client pool—even when the US economy was at its pre-pandemic peak. That’s because our clients are focused on only the very top US and EU programs. When the economy turns around—which may take several years—we will see overall application volumes decrease. However, we also anticipate significant interest in the most elite business schools. [img]https://www.stacyblackman.com/wp-content/uploads/chart-3373119_1920-734x413.jpg[/img] Recruiters favoring MBA grads to solve complex problems will always drive demand for top-ranked MBA programs. Schools have already pivoted in innovative ways to help students confront radical, pandemic-induced changes to business and the economy. We’ll likely see an even stronger preference among employers for MBA graduates who have trained to navigate rough waters. [b]Additional Influences on MBA Demand[/b] Demand for US-based business schools took a hit due to the strict immigration measures imposed by President Donald Trump. International interest in US MBA programs will likely surge because of the [url=https://www.mba.com/business-school-and-careers/student-experience/six-implications-of-bidens-policies-for-international-students]Biden administration’s friendlier immigration policies[/url]. Geographic hubs of major MBA employers, such as tech companies based in Silicon Valley, also influence where MBA applicants apply. And with [url=https://www.businessbecause.com/news/mba-degree/6693/brexit-uk-business-schools-future]Brexit[/url] now finalized, we may see its impact on MBA demand geographically, too. MBA applicants must weigh their priorities and make adjustments as needed. [img]https://www.stacyblackman.com/wp-content/uploads/pexels-andrea-piacquadio-3769138-734x481.jpg[/img] [b]Standing Out When Competition is Fierce[/b] Anyone applying to a top MBA program in the US or Europe must prepare themselves for stiff competition. The key is to know your niche relative to the applicant cohort in which you’re competing. You must: [list] Define the industry in which you are competing. Identify industry strengths and vulnerabilities.[/*] Identify the ways you are unique relative to your industry applicant pool. Find an angle that is current and engaging, as well as authentically aligned with your identity and passions.[/*] Showcase strengths through an overarching framework. Highlight your differentiating features throughout every application component.[/*] [/list] To overcome the odds, follow this advice shared by Meghan, a former Wharton Lauder admissions officer on the SBC team. “Share a unique/ interesting/ personable set of stories in your MBA applications, in support of a reason why you would be a great addition to the MBA incoming student class,” she recommends. COVID affected MBA plans adversely for many incoming students in 2020—especially international students. But, with in-person instruction anticipated for fall due to vaccine availability, the future looks bright for those entering in 2021. With the economy on the upswing, we expect to see strong recruiting for 2024 graduates. All of these factors make 2021 an ideal time to pursue an MBA degree. The post [url=https://www.stacyblackman.com/covid-affected-mba-applicants/]How Has COVID Affected MBA Applicants?[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/MDAgxsy0yf8[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
25 Jan 2021, 12:00
| FROM Stacy Blackman Consulting Blog: What COVID Has Done for the MBA |
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COVID affected MBA applicants profoundly in 2020 and continues to do so as we enter the home stretch of this admissions cycle. It seems there’s nothing like a pandemic to spark interest in going to business school. [img]https://www.stacyblackman.com/wp-content/uploads/COVID-travel-pexels-anna-shvets-4167559-734x665.jpg[/img] MBA demand is countercyclical to the economy, as we witnessed following the [url=https://www.stacyblackman.com/insead-mba-crisis-time/]2008 financial crisis[/url]. Many young professionals see the MBA as an escape from unemployment or furlough status. But many of the applicants we’ve recently met say they need the sophisticated knowledge from a top MBA program to navigate the dynamic business changes ahead. MBA aspirants look to the degree to gain vital tools and frameworks to thrive in the radically-changing business landscape. Business schools are reimagining their approaches to technology, supply chain, and other disciplines, which is a considerable lure. It’s an exciting time for young, MBA-aspiring professionals. The career visions we have heard from recent applicants range from inspiring to jaw-dropping. Many view the 2023 and 2024 MBA class as symbolizing new beginnings and hope. How Has COVID Affected MBA Demand Long-Term? We predict the 2020-2021 application cycle will set records for interest in the top MBA programs. Also, the applicant pool’s caliber with respect to diversity, leadership, industry, and career visions will skyrocket. The MBA degree seems to have emerged stronger from the pandemic. “Students held up and schools stepped up,” Sangeet Chowfla, head of the Graduate Management Admission Council (GMAC), tells [url=https://www.economist.com/business/2021/01/23/the-mba-class-of-covid-19]The Economist[/url]. He notes that GMAC’s latest annual global survey of more than 300 business schools found that 66% of programs saw applications rise. Likewise, SBC has witnessed year-after-year growth in demand across our client pool—even when the US economy was at its pre-pandemic peak. That’s because our clients are focused on only the very top US and EU programs. When the economy turns around—which may take several years—we will see overall application volumes decrease. However, we also anticipate significant interest in the most elite business schools. [img]https://www.stacyblackman.com/wp-content/uploads/chart-3373119_1920-734x413.jpg[/img] Recruiters favoring MBA grads to solve complex problems will always drive demand for top-ranked MBA programs. Schools have already pivoted in innovative ways to help students confront radical, pandemic-induced changes to business and the economy. We’ll likely see an even stronger preference among employers for MBA graduates who have trained to navigate rough waters. [b]Additional Influences on MBA Demand[/b] Demand for US-based business schools took a hit due to the strict immigration measures imposed by President Donald Trump. International interest in US MBA programs will likely surge because of the [url=https://www.mba.com/business-school-and-careers/student-experience/six-implications-of-bidens-policies-for-international-students]Biden administration’s friendlier immigration policies[/url]. Geographic hubs of major MBA employers, such as tech companies based in Silicon Valley, also influence where MBA applicants apply. And with [url=https://www.businessbecause.com/news/mba-degree/6693/brexit-uk-business-schools-future]Brexit[/url] now finalized, we may see its impact on MBA demand geographically, too. MBA applicants must weigh their priorities and make adjustments as needed. [img]https://www.stacyblackman.com/wp-content/uploads/pexels-andrea-piacquadio-3769138-734x481.jpg[/img] [b]Standing Out When Competition is Fierce[/b] Anyone applying to a top MBA program in the US or Europe must prepare themselves for stiff competition. The key is to know your niche relative to the applicant cohort in which you’re competing. You must: [list] Define the industry in which you are competing. Identify industry strengths and vulnerabilities.[/*] Identify the ways you are unique relative to your industry applicant pool. Find an angle that is current and engaging, as well as authentically aligned with your identity and passions.[/*] Showcase strengths through an overarching framework. Highlight your differentiating features throughout every application component.[/*] [/list] To overcome the odds, follow this advice shared by Meghan, a former Wharton Lauder admissions officer on the SBC team. “Share a unique/ interesting/ personable set of stories in your MBA applications, in support of a reason why you would be a great addition to the MBA incoming student class,” she recommends. COVID affected MBA plans adversely for many incoming students in 2020—especially international students. But, with in-person instruction anticipated for fall due to vaccine availability, the future looks bright for those entering in 2021. With the economy on the upswing, we expect to see strong recruiting for 2024 graduates. All of these factors make 2021 an ideal time to pursue an MBA degree. The post [url=https://www.stacyblackman.com/covid-affected-mba-applicants/]What COVID Has Done for the MBA[/url] appeared first on [url=https://www.stacyblackman.com]Stacy Blackman Consulting - MBA Admissions Consulting[/url]. [img]http://feeds.feedburner.com/~r/StacyBlackman/~4/MDAgxsy0yf8[/img] |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
26 Jan 2021, 07:00
| FROM Stacy Blackman Consulting Blog: Pandemic Has Little Impact on MBA Tuition |
 Last spring, students at Stanford, Wharton, and Harvard Business School petitioned for MBA tuition discounts once schools went entirely online. Networking with peers is a significant draw of the MBA experience, and they felt that virtual interactions didn’t cut it. While some schools offered extended payment periods in response, elite programs have not reduced MBA tuition fees due to COVID-19. A couple of different reasons might have affected their calculus. First, no one knew how long the pandemic would last. Schools didn’t want to lose revenue during an economic downturn that has affected them, too. Top MBA programs are not taking a reputational hit in any way from the pandemic. So, the value of the degree remains the same. Students everywhere covet the top-tier schools because their educational value translates well across the globe. Second, tuition price contributes to perception. If you pay more for something, then it must be worth more, right? If programs cut prices, even for an online experience, the move might have impacted their brand reputation and quality perception. “Throughout my 20-year career in MBA admissions, the one constant is the incredible allure of top programs, the high caliber of students that pursue those programs, and the core attributes that those programs seek,” says Stacy Blackman, President of Stacy Blackman Consulting. MBA Tuition Not Affected by Move Online Moving online hasn’t diminished the value of the elite b-school brands. Think about the best online MBA programs, which also have limited residency requirements. You’ll see a hefty price tag for those as well. UNC Kenan-Flagler Business School’s MBA@UNC is a prime example. Tuition at this top-ranked online MBA program exceeds $125,000 for the July 2020-July 2021 academic year. Learning environments have changed in an unprecedented way due to COVID-19, but the perks of a top program have not. Elite business schools still give the best and the brightest access to the top employers, top salaries, and fantastic networks. All of that is unbelievably valuable, and people will continue to pay for that exclusive access. Plus, as Stanford GSB lecturer David Dodson pointed out last March, going through COVID-19 together might become a tremendous bonding experience for the class.  The Silver Lining of COVID’s Timing If COVID-19 had struck before the digital age, its crippling effects on education would have been profound. Thankfully, students of this generation are tech natives and feel completely at home in an online environment. They deftly use their virtual and in-person options to maximize opportunities for advancement, enrichment, and engagement. Because of this pandemic, we’ve learned that interacting online can provide distinct advantages. With technology, we can connect with anyone, anywhere much more easily, quickly, and economically. Elite business schools had already begun to boost integrated digital teaching into core MBA courses prior to the pandemic. Vijay Govindarajan of Dartmouth College’s Tuck School of Business tells The Economist that “digital technology can help a top school ensure its gold-plated MBA programme shines even brighter.” Critics who believe schools should reduce MBA tuition as online learning continues should step back to examine the bigger picture. With vaccine distribution ramping up, we know the pandemic won’t last forever. Meanwhile, programs continue to strive for ways to offer students the best experience possible. As The Economist notes, “business schools deserve credit for adapting their business models—as their professors preach others to do. Many delayed the start of semesters, offered generous scholarships, waived exam requirements and liberalised policies on deferrals.” A top MBA admissions director whom we interviewed about this topic said, “No one has been phoning it in during this pandemic—that’s just not the mindset of these elite programs. Their dedication to their brands and their students is deep and wide. COVID-19 was a unique business problem, and both students and programs (and employers) have risen to the occasion.” Long-Term ROI of the MBA Despite uncertainties in the job market caused by the coronavirus, the MBA still offers a strong return on investment.  “Applicants understand an MBA as a long-term investment in their future,” says Beth Tidmarsh, a former Kellogg MBA admissions officer who now works on the SBC team. “Thus, the long-term brand reputation and credential of a top-tier B-school is appealing.” The reason leading U.S. business schools remain in demand, despite high MBA tuition fees, is that top employers continue to source their talent from these pools of students, explains one MBA career coach on the SBC team. This is especially critical for students planning to make an industry and/or functional pivot post-MBA. Between the recruiting opportunities and broad-reaching alumni networks, there is tremendous value in the MBA even amid a pandemic. “Top schools are committed to creating a class that brings in diverse perspectives from around the world to enhance student learning and the overall classroom experience,” Beth notes. “Managers and leaders of the future will tackle problems in a highly interconnected world, do business on a global scale, and the issues are only getting more complex…especially in this current climate.” The post Pandemic Has Little Impact on MBA Tuition appeared first on Stacy Blackman Consulting - MBA Admissions Consulting. |
Stacy Blackman Consulting is the only MBA admissions firm with a complete panel of former Admissions Officers from every M7 program and the elite European MBA programs. If you are looking for guidance on your MBA application, we can help with hourly and comprehensive consulting services. Interested in a free 15-minute consultation with the Stacy Blackman Team? Contact us to learn more.
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