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Stacy Blackman Consulting Blog

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Harvard Bumps Stanford in Latest US News MBA Ranking [#permalink]

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New post 16 Mar 2016, 08:01
FROM Stacy Blackman Consulting Blog: Harvard Bumps Stanford in Latest US News MBA Ranking
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U.S. News & World Report today released the 2017 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment.

In the full-time MBA rankings, Harvard University is the No. 1 program in the country. The University of Chicago—Booth moves up two places to tie with Stanford Graduate School of Business at No. 2. This is Booth’s highest placement ever in this list, and the first time in seven years that Stanford GSB has been knocked out of the first place ranking held either on its own or tied with another school.

Yale School of Management, meanwhile, has achieved its highest ranking ever on this list, tied for eighth place with Dartmouth’s Tuck School after finishing at No. 13 last year. For anyone wondering what happened to NYU Stern School of Business, which ranks 20th this year, according to a blog post by US News’s rankings guru Bob Morse, it’s because Stern did not provide complete data in time for use in calculating the rankings.

Among part-time MBA programs, the Haas School of Business at the University of California—Berkeley remains No. 1, Chicago Booth comes in second, Kellogg School of Management is No. 3, UCLA Anderson School of Management is No. 4, and Michigan Ross School of Business rounds out the top five.

Best Business Schools
1. Harvard School of Business

2. Stanford Graduate School of Business

2. University of Chicago Booth School of Business

4. University of Pennsylvania Wharton School

5. MIT Sloan School of Management

5. Northwestern University Kellogg School of Management

7. University of California—Berkeley Haas School of Business

8. Dartmouth College Tuck School of Business

8. Yale School of Management

10. Columbia School of Business

The six graduate disciplines U.S. News ranks annually are evaluated on factors such as employment rates for graduates, starting salary and standardized test scores of newly enrolled students. Because each graduate program is different, the rankings methodology varies across disciplines.

Different output measures are available for different fields, U.S. News explains, saying that in business, they use starting salaries and the ability of new MBAs to find jobs upon graduation or three months later.

“Going to graduate school is a major commitment of time and money,” said Anita Narayan, managing editor of Education at U.S. News. “Our rankings and advice offer guidance throughout the decision-making process to help prospective students and their families find the right fit.”

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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HBS Admissions Director on Applying in Round 3 [#permalink]

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New post 17 Mar 2016, 07:00
FROM Stacy Blackman Consulting Blog: HBS Admissions Director on Applying in Round 3
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To apply or not to apply in the final round, that is the perennial question. Harvard Business School‘s Director of MBA Admissions and Financial Aid, Dee Leopold, recently gave a crystal-clear answer…for college seniors, at least.

“If you are a college senior who has the bandwidth to complete an application, I think that you should,” Leopold says, noting that there’s really no downside risk other than missing out on the last weeks of college life to prep for the GMAT or GRE.

“The worst that can happen is that you get turned down to the very small 2+2 Program. Many current students at HBS found themselves in that situation, went out and joined the work world, and reapplied successfully,” she adds.

As for candidates with a few years of work experience under their belts, Leopold acknowledges the third round is more complicated since most of the seats in the Class of 2018 have already been taken and it may be difficult to get a visa.

Despite those potential challenges, the director clears up a few myths that may be keeping qualified candidates from considering Round 3. Contrary to popular wisdom, needs-based financial aid is just as available for last-round applicants as it is for Round 1 admits.

If you do apply and are not successful, rest assured you can reapply in the future with absolutely no negative repercussions.

One plus of Round Three is the quick turnaround time between interview invitations going out and final decisions coming down. Invites will be sent by April 20th at noon, and your fate will be revealed on May 11th.

As always, we at SBC suggest candidates submit only once they feel their application is as strong as possible. If you apply in the final round, do make use of the optional essay to explain why you waited so that the admissions committee doesn’t come to the conclusion that this is just a last-ditch effort after failing to receive an admit at another MBA program in an earlier round.

“We ALWAYS admit people from Round 3,” Leopold says. “And they are always very wonderful.”

You may also be interested in:
What are My Round 3 Chances?

Should You Consider Applying in Round 3?

Face the Challenge of Round 3 Business School Applications

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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You’re In…Now How Will You Pay for the MBA? [#permalink]

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New post 18 Mar 2016, 12:00
FROM Stacy Blackman Consulting Blog: You’re In…Now How Will You Pay for the MBA?
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While MBA programs typically offer fewer scholarships and other types of “free” money than the non-professional forms of graduate education, many online resources can help you to search for a scholarship or fellowship that fits your background and needs.

First, check with your target program. Once admitted, your school will present you with a package of information about public and private loans and scholarships. In fact, many schools have comprehensive websites on the topic.

In addition, you may qualify for merit fellowships based on your academic credentials, accomplishments and experience that you have already touched upon in your application. Some business schools also offer additional fellowships that you can apply for directly through the program.

Applying for the Money

The application processes differ for financial aid, from demonstrating need to demonstrating merit. Organize the deadlines and submission guidelines to make sure you have a plan to complete the applications, and carefully follow the directions of each scholarship, fellowship or loan you plan to apply for.

If you need to submit an essay, answer the question as thoroughly and succinctly as you would any other MBA essay.

The value of fellowships/scholarships should be fairly straightforward, though you may emphasize either need or merit in your response, depending upon the direction you plan to take in the argument for your own application.

You’ll need to prove serious financial hardship if going the needs-based route. If you did have difficulties with finances throughout your life and could not attend business school without such assistance, you may have a good argument. If not, you should pursue the merit-based direction.

When providing evidence for need-based aid, give a straightforward explanation of your economic situation and why you would have difficulty paying for your MBA education. Avoid any complaining or blame, and instead focus on what you have accomplished in your life with little resources and how you plan to continue that trajectory as you benefit from greater resources.

With a merit-based argument, you should outline your accomplishments, both academic and professional. Sell yourself as you would in a job interview, and provide solid evidence for your accomplishments as you did in your application essays.

The impact of financial assistance may allow you to pursue activities such as travel and leadership opportunities. In addition, your receipt of aid may benefit the people around you. If you have been involved in your community or with charity, you can certainly describe the impact you have made on the lives of others thus far and how that impact will be even greater with a business education.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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Weigh if an MBA Makes Financial Sense [#permalink]

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New post 21 Mar 2016, 10:00
FROM Stacy Blackman Consulting Blog: Weigh if an MBA Makes Financial Sense
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Consider if an MBA will lead to a significant salary bump.

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com
An MBA is a long-term financial investment, so here are three questions to ask when trying to decide whether going to business school makes financial sense: Will the degree result in a significant salary bump? Will the degree help me switch careers? Will the degree help me get to a leadership position faster?

While it can be daunting to pay hundreds of thousands of dollars to earn an MBA, most business school graduates experience a substantial salary increase. The vast majority report having greater job satisfaction and the ability to advance quickly and, therefore, earn more in shorter time.

The Graduate Management Admission Council, which administers the GMAT exam, gathered input from b-school alumni worldwide in late fall 2015 to shed light on the issue of return on investment for its “2016 Alumni Perspectives Survey Report“, released in February.

Among the 14,279 business school alumni who participated in the survey, 75 percent say their graduate management education was financially rewarding, and 93 percent say they would pursue the degree again if given the choice. Although graduates considered three main areas when assessing their return on investment – expansion of knowledge/skills, personal development, salary increase – we’ll stick to just the financial aspect for this post.

Calculating the return on investment requires a simple formula. It’s the return acquired from an investment minus the cost of the investment, divided by the cost of the investment. Students of two-year MBA programs typically have the largest investment expense because they miss two years of employment. They need to recoup the cost of the MBA degree plus the opportunity cost in order to get a positive return on their investment.

Let’s consider the applicant who currently earns $70,000 a year and has landed a seat at the University of Chicago Booth School of Business. Tuition and expenses for the two-year MBA program at Booth will be about $200,000. She earns $15,000 during her summer internship, and her first year post-MBA salary in management consulting is $160,000 plus a signing bonus of $25,000.

This student’s opportunity cost – $143,500 in salary over two years – plus out-of-pocket expenses for tuition, etc. totaling $200,000, minus internship earnings, equals a total investment of $328,500. If she had not gone to business school and earned a typical annual salary increase of 5 percent, five years later she would be bringing home just more than $85,000 annually and would have earned $386,795 during that five years.

If she does the MBA, forgoes salary for two years, and earns at minimum a 5 percent increase over starting salary annually, she will earn $185,000 her first year and at least $529,400 for those same five years. More often, periodic bonuses and larger-than-average salary bumps mean that alumni frequently recoup their business school investment less than four years after graduation, GMAC reports.

GMAC found that more than 20 years after graduation, business school alumni earn a median cumulative base salary of $2.5 million. This is $500,000 more in cumulative base salary than they would earn if they did not go to graduate business school and consistently received 5 percent annual salary increases, and nearly $1 million more than if they did not go to business school and consistently received 3 percent annual salary increases over 20 years, the GMAC report says.

Prospective students should consider payback time with projected cumulative growth, and average growth rate, when looking at return on investment as a motivating factor for pursuing an MBA. But keep in mind, the value of the MBA degree varies widely depending on your post-graduation plans, as well as the brand ?of the business school where you earn the degree.

When it comes to deciding whether business school makes sense for you, remember that the choices you make – ranging from the cost of the city you decide to live in, the field you move into, the school you choose – will all impact your financial return on investment.

Your personal return on investment, however, is something quite different. Having the ability to transition into nonprofit PR marketing or some other lower-paying but more personally rewarding job may be well worth it – and that kind of personal satisfaction cannot be measured in dollars and cents.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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When to Consider Retaking the GMAT [#permalink]

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New post 22 Mar 2016, 10:00
FROM Stacy Blackman Consulting Blog: When to Consider Retaking the GMAT
The GMAT. It’s an acronym that can strike fear into the hearts of many a prospective MBA student. And for good reason: while your GMAT score is still just one data point for the AdCom to consider out of your entire package, it’s often viewed as proof of academic prowess.

If your undergraduate GPA was high and you also earn a great GMAT score, that’s probably enough to convince the AdCom you can hack their program’s curriculum and they’ll move on to weighing other aspects of your candidacy.

But a low GMAT score—especially when combined with a poor GPA—could pose a red flag. So what should you do if a) you’re just an awful test-taker, or b) you’re not happy with your initial score? When does it make sense to try again?

If you have experienced difficulty with taking tests throughout your life, you should try a test prep class or private tutor to see if dedicated guidance helps. And you may also want to look into the GRE (assuming your target schools accept GRE scores), take a few practice tests and see if you fare better.

If not, then we’d advise using the “Optional Essay/Additional Information” field that most applications offer as an opportunity to refocus the AdCom on why you can handle their program, despite a poor test score. Point to your career success or specific quantitative or analytic achievements.

If you’ve typically done just fine taking tests over the course of your academic career, a poor GMAT score may just be a fluke—or the result of insufficient preparation, lack of sleep leading up to the test, or nerves. Regroup and try again. You won’t be penalized for taking the test more than once, so if you know in your gut you can do better, it’s worth a try. Just be sure to take a different approach to test prep and test-taking this time.

Remember:

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*** Do you want to stay on top of the application process with timely tips like these? Please subscribe to our weekly newsletter and you’ll receive our expert advice straight in your mailbox before it appears on the blog, plus special offers, promotions, discounts, invitations to events, and more.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

_________________

Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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B-School Deans to Discuss Future of Management Ed. [#permalink]

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New post 23 Mar 2016, 11:00
FROM Stacy Blackman Consulting Blog: B-School Deans to Discuss Future of Management Ed.
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“Focusing on creating flexible, adept leaders is critical for business schools to continue attracting top talent,” says Glenn Hubbard, Dean of Columbia Business School. This underlying sentiment will serve as the foundation for a landmark discussion between the deans of the nation’s top business schools as they come together to address critical questions about the future of management education.

“My fellow panelists are all esteemed leaders in the field, and I am hopeful we will bring forward innovative approaches to bridging theory and practice in the curriculums, experiences, and ideas we offer students,” Hubbard adds.

The panel, entitled “What’s Next in Management Education,” is one of three to be held during Columbia Business School’s Centennial Symposium on May 2nd.

Jan Hopkins, former anchor and correspondent for CNN and owner of the Jan Hopkins Group, will moderate the conversation, which will feature deans from the business schools of Harvard, Stanford, Wharton and Columbia and address critical issues such as:

[*]Will the MBA degree continue to be valued in the future?[/*]
[*]How can business schools evolve to meet the demands of a changing economy?[/*]
[*]What are the challenges and opportunities facing today’s MBA programs?[/*]
[/list]
In addition to the panel on management education, the Symposium will feature two other panels. The first will explore the changing face of global business and examine how multinational companies can continue to flourish in a rapidly changing business environment. The second will focus on how business can define and identify value in the twenty-first century.

As one of the premier events of Columbia Business School’s centennial celebration, this Symposium will commemorate the school’s landmark achievements in key areas of business over the past century, while challenging thought leaders in management education to look to the future and examine the major forces that will impact business in the years ahead.

Photo Credit: Paul Warchol

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

_________________

Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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Plan Ahead and Positively Impact your MBA Application [#permalink]

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New post 24 Mar 2016, 07:00
FROM Stacy Blackman Consulting Blog: Plan Ahead and Positively Impact your MBA Application
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Many b-school aspirants see the spring and summer solely as a time to take a GMAT prep course. They often wait until they are neck deep in the process of writing their essays and compiling all of their other application materials to identify the elements of their candidacy they wish to improve.

But, with a little advanced planning and a commitment of just a few hours a week, applicants can do a great deal to bolster their overall candidacy starting in the spring before they apply.

Community Service
Business schools pride themselves in training future leaders, and look for individuals who are concerned about doing great work and improving the world around them. If you feel that your commitment over the last several years to outside causes does not reflect the balance you want to establish in your life…well, put your money where your mouth is and get involved.

If you have been involved with outside activities over the last couple of years, consider stepping your activities up a notch. One of our clients had helped out for a few hours a month for two years at a local Ronald McDonald House. In the spring, he upped his involvement by organizing some fundraising/recruiting events for young professionals.

It’s true that young professionals work long hours and often have demanding travel schedules, which sometimes rules out activities such as Big Brothers/Sisters or tutoring. But the next person who says he or she cannot spend two hours on a weekend to help clean up a park or paint a school or talk with seniors at a nursing home will be the first.

Reading
Getting in the habit of reading again will pay huge dividends for your candidacy and your application process. You are about to engage in quite possibly the most demanding writing process of your adult life. And you’ve probably forgotten half of the vocabulary words you learned for your SATs.

Reading outside of work will immerse your brain in the English language again, expanding your active/accessible vocabulary, reacquainting you with interesting sentence structures and illustrating great organizational techniques for your essays. Your apps and your GMAT scores will both benefit.

But beyond that, you’ll probably become a more interesting person. You’ll show that you take time to get to know more about topics that are important to you. You’ll have more to talk about with interviewers. You may even gain some material for essays.

Research Schools
You have a better chance of being admitted to any school if it is the right school for you. Many candidates look at rankings and decide to apply to the top few schools. You will be far better off if you do your own research, talk to students and alums and, if possible, visit campuses.

Doing this type of research early on will help you to better understand the schools, and quite possibly change your mind about where you want to apply. You also will be better qualified to answer the question, “Why do you want to go here?” Demonstrating an understanding of what makes a school unique and showing that you are truly passionate about attending will take you far.

If you get a little bit of a jump start on prepping for your GMAT and application-writing process now, you’ll find your fall and winter a much more productive and enjoyable time.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

_________________

Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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Harvard Business School Names New Head of MBA Admissions [#permalink]

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New post 25 Mar 2016, 06:00
FROM Stacy Blackman Consulting Blog: Harvard Business School Names New Head of MBA Admissions
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A five-month search culminated yesterday with Harvard Business School’s announcement that Chad Losee, Harvard MBA Class of 2013, will be its next Managing Director of MBA Admissions and Financial Aid.

Losee will succeed Dee Leopold, who has headed the school’s MBA selection process since 2006. Leopold will remain at HBS as Program Director for 2+2, a deferred admission process for students in college or full-time master’s programs.

After graduating from HBS in 2013 as a Baker Scholar (an academic honor awarded to the top 5% of the graduating class of some 900 students), Losee worked for a year as an HBS Leadership Fellow in the Dean’s Office. In that role, he collaborated with the school’s senior leadership on a range of strategic projects.

One such effort was at HBX, where Losee helped to launch and set strategy for this unique digital learning platform. In particular, he co-led the exam and credential strategy for CORe (Credential of Readiness), which teaches students the fundamentals of accounting, business analytics, and economics for managers.

In addition, he worked with HBS professor Clayton Christensen to develop an HBX course on Disruptive Strategy, an offering designed for executives around the world.

Losee also served as an observer with the HBS Admissions Board, evaluating prospective students during their interviews – an interest that had been piqued during his student days when he was an Admissions Ambassador for his HBS section, helping candidates during their visits to the campus. Losee has remained active as an HBS alumnus, serving a term on the HBS Alumni Board, one of about 70 graduates appointed to provide expertise and input to the School’s leaders.

I am a real believer in Harvard Business School’s mission to educate leaders who make a difference in the world, says Losee.

In 2014, Losee returned to Bain & Company’s Dallas office, where he had worked from 2008 to 2011, including a stint in Stockholm. As a manager at Bain, Losee has led consulting teams in client engagements across multiple industries. He graduated in 2008 from the Honors Program at Brigham Young University, where he earned a bachelor’s degree in international relations summa cum laude.

“I’ve seen firsthand how my classmates, the amazing body of HBS alumni, and the outstanding faculty and staff all strive to shape the world around them for the better,” Losee says.

“The experience of a two-year, full-time MBA at HBS continues to have a great impact on me personally and as a leader. My goal as Dee’s successor is to make sure that each diverse MBA class continues to have a transformative experience at HBS and go on to make a real difference in the world.”

“We are delighted to welcome Chad back to the School and his family back to Boston,” said Jana Pompadur Kierstead, Executive Director of the MBA Program. “He has a deep understanding of HBS and its pedagogy and mission; superb interpersonal, analytical, and strategic skills; and a passion for admissions. That combination of talent and experience positions him well to lead our Admissions and Financial Aid teams.”

Losee will begin his new role in June.

Image credit: Harvard Business School
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

_________________

Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap

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Apply Now for McKinsey Emerging Scholars [#permalink]

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New post 28 Mar 2016, 09:00
FROM Stacy Blackman Consulting Blog: Apply Now for McKinsey Emerging Scholars
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Are you headed to a full-time MBA program at one of the top-tier business schools this Fall? Then consider applying for a McKinsey-sponsored scholarship opportunity for outstanding pre-MBA students.

The Emerging Scholars program offers  a monetary award, individual mentorship with McKinsey consultants, and an opportunity to network with fellow peers across top MBA campuses during a celebratory weekend this summer.

Launched in 2013, this program has already extended scholarships and mentorship to many amazing pre-MBA students in its three years, and McKinsey plans to build upon the program even more this year. They want to get to know people who:

  • Actively seek to maximize their potential
  • Enjoy tackling complex challenges that matter
  • Thrive working collaboratively
According to the company, they are looking for people who yearn to do more than just come to work; they want to create change – for clients and the world around them.

Says one former recipient from Kellogg School of Management, “McKinsey’s Emerging Scholars program was an invaluable experience. We didn’t just hear about their culture, we experienced it over drinks and dinner. They didn’t show slides touting their high-impact work and renowned problem-solving approach they let us actually tackle a prior project with McKinsey facilitators.

In the end, you understand why CEOs and prime ministers call McKinsey first, why the best and brightest work there and, most importantly, whether or not the firm (and consulting) is right for you—all before you step foot on campus.”

The application—a simple process that takes just a few minutes to complete—is open now and has a May 19th deadline for submission. Selected candidates will go through a short interview process and winners will be invited to a unique celebratory weekend in mid-summer.

Learn more at: http://www.mckinsey.com/careers/emerging_scholars

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What to Do if You’re Waitlisted [#permalink]

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New post 29 Mar 2016, 08:01
FROM Stacy Blackman Consulting Blog: What to Do if You’re Waitlisted
All MBA applicants are anxious to learn whether or not they’ve been admitted to their dream schools. For some prospective MBAs, however, those decision dates come and go … and they’re still in limbo. They’ve been waitlisted.

If you’ve been rolled over from a Round 1 waitlist, have recently been informed that you were neither accepted nor denied at one of your Round 2 schools, or get this same news in the coming weeks from a program that hasn’t notified applicants yet, your first question might be, “Well, now what?”

Before you pick up the phone to call the admissions team, take a moment to reread the email they sent. Usually it will contain pretty explicit information and instructions about timelines and next steps. It should also be clear as to whether the program has a dedicated waitlist contact, if they’ll be following up with more information for you in the weeks ahead, and if there’s a drop-dead date by which you’ll have a final answer.

Most importantly, there should be guidance on additional actions you can (or must) take or supplemental materials they’d be willing to consider. Some schools make it very, very clear that they will not look at any more letters of recommendations or candidate updates before they make their decision, whereas other programs encourage applicants to send in additional essays, videos and words of support from colleagues and alumni.

Some people are tempted to bombard the AdCom with more information after they’ve been waitlisted, but the reality is that that probably won’t help your case. If the school has stated that they don’t want anything else from you, now might not be the best time to ignore their instructions.

As frustrating as it is to feel like you’re not doing anything proactive, you need to remind yourself that you already did do everything you could to put your best foot forward in your original application.

If a school welcomes more insight into your candidacy, then give it to them. Let them know what you’ve been up to in the months since your round’s deadline. What else have you done at work? What more have you learned about their program? Have you taken any trips, had any interesting experiences or done something cool in your community?

Make your communication with them count, because even if a school does accept new information on waitlisted candidates, they’re not going to want to be contacted every single day. One solid update will likely come off better than several emails or uploads that don’t have much meat.

At some point (and that point might already be here), there’s nothing you can do but wait. Try to keep your mind off of it and hope for the best. A number of waitlisted candidates are ultimately accepted into top programs each year, so there’s reason to remain positive!

Remember:

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4 Times Pursuing an MBA Makes Sense [#permalink]

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New post 30 Mar 2016, 07:00
FROM Stacy Blackman Consulting Blog: 4 Times Pursuing an MBA Makes Sense
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This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com
For many people, business school is the ideal platform to continue their professional and personal development and achieve their career goals. Take a look at these common motivating factors to determine whether you, too, should head back to the classroom for an MBA.

1. You want to switch careers. By some estimates, at least two-thirds of MBA applicants look to business school as a surefire way to launch their career in a new direction.

One past client, Sheila, worked as a real estate attorney focused on commercial transactions when she decided that she found working with the financial details of transactions more interesting than the legal intricacies. She passed the first level of the Certified Financial Analyst exam and had a great deal of financial knowledge, but a very limited understanding of other areas of business management.

Sheila had come to a point in her career where she knew what she wanted to work on for the rest of her professional life. Though the CFA program is a tremendous resource, she had enough experience to know that she needed to develop the skills best provided by earning an MBA. Going to business school became the next logical step toward her objective of working in real estate banking at a Wall Street firm.

2. Your target company demands it. If your sights are set on working for companies such as Goldman Sachs, JPMorgan Chase & Co., McKinsey & Co. or Boston Consulting Group, know that having the MBA credential is typically an unspoken requirement. These top banking and consulting firms mandate MBA degrees for upper management positions.

While they hire employees with bachelor’s degrees for entry-level positions, the understanding is that associates will work for a few years and then head to business school to earn the degree that will open doors to senior management and partner positions.

Even if smaller firms don’t require the MBA outright, employees find they advance up the ladder much faster with the graduate management degree.

3. You hit a ceiling. When Constance first came to us, she had already spent six years working in consulting and banking, but in her current role her contributions were narrowly focused on one piece of the client’s puzzle. To broaden her role and shift to strategic consulting for financial institutions, Constance needed an MBA.

She knew her experience with strategy and working for banks would enable her to participate in the classroom, but MBA courses in financial accounting, financial engineering and risk management would expand her knowledge and give her the full toolkit for landing a position as an associate at a top-tier consulting firm in the U.S. or Europe.

Constance’s long-term goal involved eventually taking a partner role at a smaller, niche consulting firm. Business school was a crucial next step for transition.

4. You need new skills. Our former client Peter’s undergraduate degree was in art history from a small liberal arts college. While most of his classmates had pursued Ph.Ds for a career in academia, he had always wanted to find a way to combine his creative interests within a team-based environment.

Peter began his career in an entry-level position at the Museum of Modern Art in New York in the arts education group. Within a few years he was on a strong trajectory within MoMA, but Peter really wanted to focus on entrepreneurial activity within the arts world. He decided he needed an MBA to gain the hard financial and management skills required to meet that goal.

As you can see, every individual’s needs and motivations are different. When you map out your medium- and long-term professional goals, think about what gaps you have and whether an MBA could be that transformational experience that changes your career trajectory forever.

Image credit: Flickr user Stefan(CC BY-NC-ND 2.0)
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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4 Times Pursuing an MBA Makes Total Sense [#permalink]

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New post 30 Mar 2016, 23:00
FROM Stacy Blackman Consulting Blog: 4 Times Pursuing an MBA Makes Total Sense
Image

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com
For many people, business school is the ideal platform to continue their professional and personal development and achieve their career goals. Take a look at these common motivating factors to determine whether you, too, should head back to the classroom for an MBA.

1. You want to switch careers. By some estimates, at least two-thirds of MBA applicants look to business school as a surefire way to launch their career in a new direction.

One past client, Sheila, worked as a real estate attorney focused on commercial transactions when she decided that she found working with the financial details of transactions more interesting than the legal intricacies. She passed the first level of the Certified Financial Analyst exam and had a great deal of financial knowledge, but a very limited understanding of other areas of business management.

Sheila had come to a point in her career where she knew what she wanted to work on for the rest of her professional life. Though the CFA program is a tremendous resource, she had enough experience to know that she needed to develop the skills best provided by earning an MBA. Going to business school became the next logical step toward her objective of working in real estate banking at a Wall Street firm.

2. Your target company demands it. If your sights are set on working for companies such as Goldman Sachs, JPMorgan Chase & Co., McKinsey & Co. or Boston Consulting Group, know that having the MBA credential is typically an unspoken requirement. These top banking and consulting firms mandate MBA degrees for upper management positions.

While they hire employees with bachelor’s degrees for entry-level positions, the understanding is that associates will work for a few years and then head to business school to earn the degree that will open doors to senior management and partner positions.

Even if smaller firms don’t require the MBA outright, employees find they advance up the ladder much faster with the graduate management degree.

3. You hit a ceiling. When Constance first came to us, she had already spent six years working in consulting and banking, but in her current role her contributions were narrowly focused on one piece of the client’s puzzle. To broaden her role and shift to strategic consulting for financial institutions, Constance needed an MBA.

She knew her experience with strategy and working for banks would enable her to participate in the classroom, but MBA courses in financial accounting, financial engineering and risk management would expand her knowledge and give her the full toolkit for landing a position as an associate at a top-tier consulting firm in the U.S. or Europe.

Constance’s long-term goal involved eventually taking a partner role at a smaller, niche consulting firm. Business school was a crucial next step for transition.

4. You need new skills. Our former client Peter’s undergraduate degree was in art history from a small liberal arts college. While most of his classmates had pursued Ph.Ds for a career in academia, he had always wanted to find a way to combine his creative interests within a team-based environment.

Peter began his career in an entry-level position at the Museum of Modern Art in New York in the arts education group. Within a few years he was on a strong trajectory within MoMA, but Peter really wanted to focus on entrepreneurial activity within the arts world. He decided he needed an MBA to gain the hard financial and management skills required to meet that goal.

As you can see, every individual’s needs and motivations are different. When you map out your medium- and long-term professional goals, think about what gaps you have and whether an MBA could be that transformational experience that changes your career trajectory forever.

Image credit: Flickr user Stefan(CC BY-NC-ND 2.0)
Image
ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
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Deciding Which MBA Program is Right for You [#permalink]

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New post 31 Mar 2016, 07:00
FROM Stacy Blackman Consulting Blog: Deciding Which MBA Program is Right for You
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Are you gearing up to apply for an MBA program this fall? I can’t stress enough how important it is to put significant thought into which programs you’re going to dedicate dozens of hours to over the coming months, so here are just a few of the things you should be thinking about.

First and foremost, you should look beyond the MBA rankings and give serious consideration to your own preferences regarding teaching methods, curriculum flexibility, rural or urban setting, large or small program, general management approach or concentration-focused, as programs vary widely and the MBA is not a one-size-fits-all degree.

Many people wonder whether  they should pursue a general or specialized MBA. Personally, I feel that a general MBA prepares you better to be a business leader, because running a business involves an understanding of all aspects of the business. It also allows networking and an exchange of ideas with all different types of people with different backgrounds and goals.

Next, do your research to come up with a shortlist of business schools that meet those requirements, and then focus on how these programs can deliver on each of those attributes. Speak to alumni and current students at each school, and don’t forget to pick the brains of your mentors and colleagues who have MBAs to learn about their personal experiences.

Much of your list can be determined as you progress through the process. As you become more invested in going to business school, and your story solidifies, you may decide to add additional schools. As you clarify your goals, you may consider schools that you had never looked at in the past. Similarly, this process may cause you to drop schools.

Once you clearly see what makes each school different, you’ll understand which schools may best fit your needs. This will help you write your essays in a way that clearly shows fit by linking your needs to the schools’ culture.

But fit goes both ways. Schools are also seeking candidates that fit their unique culture. You can better understand the school’s culture by attending events this summer and fall. Also, don’t forget to keep up with those school-hosted online chats that provide admissions advice as well as insider knowledge about specific career paths or concentrations on offer.

Part of preparing a strong application includes knowing yourself well by doing a self-assessment. Know what you want to get out of your MBA experience and why a particular program fits your educational and personal needs.

Finally, I suggest creating a timeline of the deadlines of when you plan to apply. Working backward from this timeline will help you set goals in terms of GMAT preparation, essay writing, planning to attend events, etc. The sooner you hash out these details, the better prepared you’ll be to fine-tune your application and polish those essays.

Image credit: inertia NC (CC BY-NC-SA 2.0)
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Tuck MBA Has 3 Tips for Military Applicants [#permalink]

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New post 01 Apr 2016, 07:00
FROM Stacy Blackman Consulting Blog: Tuck MBA Has 3 Tips for Military Applicants
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Coming from the armed forces rather than a civilian career path prior to business school can give rise to certain difficulties when drafting an application. Luckily, the Tuck 360 MBA Blog at Dartmouth’s Tuck School of Business has published a post with advice targeted toward veteran applicants just in time for its upcoming Military Visit Day on April 18th.

Earlier this week, first-year MBA student David Donahue described his own journey from the Marines to b-school, and now shares three tips for business school candidates with military backgrounds.

Here’s an overview of his tips, but definitely check out Donahue’s story through the link above for more details.

Tip 1: get comfortable talking about yourself. “What sets you apart from other applicants? It’s okay to replace the ‘we’ with an ‘I’ here or there in an effort to really explain your impact,” says Donahue.

Tip 2: Decide which learning environment suits you best. “Understanding the environment in which you would be most successful is crucial to narrowing down the schools that appeal the most to you,” he notes.

Tip 3: What’s your story? Donahue says applicants should be able to answer these questions: “Why did you join the military? Why do you want to go to business school? What do you want to do after business school?”

An MBA is a great next step for transitioning veterans no matter what branch of service they come from. Applicants from the military should know that business school admissions teams highly value their experience, so if that’s your background, make sure your  applications highlight those powerful and unique qualities.

You may also be interested in:
Attention, Military Applicants

Overcome 3 MBA Application Challenges Facing Military Veterans

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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To-Do List for Admitted, Waitlisted or Denied MBA Applicants [#permalink]

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New post 04 Apr 2016, 08:01
FROM Stacy Blackman Consulting Blog: To-Do List for Admitted, Waitlisted or Denied MBA Applicants
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With round two notifications pouring in from many schools, MBA hopefuls need to know what to do now, no matter which status group—admitted, waitlisted, denied—they fall into.

Once the celebrating has died down, admitted applicants should focus on two things: getting their finances in order, and tactfully informing supervisors of their impending departure, especially if the news will come as a surprise.

Admitted students will receive a package of information from their school about public and private loans and scholarships. Many top schools offer varying types of financial support, though the majority of students will need to figure out how to pay for the bulk of their graduate management education.

The program may have access to loans or lines of credit for both domestic and international MBA students and will sometimes act as the guarantor for private loans. Getting your credit in order before applying for a loan is crucial, so make sure to regularly check your credit report and fix any errors that appear before it’s time to begin the loan application process.

When it comes to letting your bosses know of your plans, diplomacy and professionalism are key. In an ideal world, you would have already included your supervisor in the process by asking her or him to act as a recommender for your application.

If that was not possible, use good judgment to determine how much notice your employer should reasonably expect. Present your resignation in writing, and explain why you’re moving on. Remember, your supervisor and colleagues form a part of your developing network, and you should make every effort to avoid burning bridges from this point in your career.

Applicants who have just received word that they’ve landed on the wait list of their dream school need to manage this state of MBA limbo well. Follow the rules of your particular school and know that the wait list is often a test of your judgment.

If the program does provide the option of submitting additional materials, be judicious when deciding what to send. Exercise restraint in communications, but also convey your enthusiasm whenever possible, as they want to be sure you’ll say yes if admitted.

For those facing the dreaded “ding” from their program of choice, the blow can feel devastating. If possible, seek feedback from the admissions committee to learn precisely what, if any, were the weaknesses in your application.

Give yourself time to detox and cool off, but not too long. Planning needs to start as soon as possible, so you can show improvement before you apply in the next Round 1, which is only six months away. Schools look quite favorably upon re-applicants, as it shows a strong interest in the program.

Be ruthless in assessing the good and the less-than-stellar aspects of your application, and act on the feedback you receive so that when you do reapply, the admissions committee will be able to see real growth and commitment to strengthening your candidacy.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
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How to Decide Between MBA Programs [#permalink]

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New post 05 Apr 2016, 06:00
FROM Stacy Blackman Consulting Blog: How to Decide Between MBA Programs
If  you’ve been accepted into more than one MBA program, congratulations! Let’s just take a moment to appreciate how many people wish they were you right now. We certainly hope you understand how impressive this achievement is and have taken some time to celebrate accordingly.

But, now you have a tough decision to make. You probably only applied to schools you were truly interested in, and soon it will be time to choose between two of them (or more). How should you figure out where to spend eighteen months of your life—not to mention tens of thousands of dollars?

Step one is to attend each program’s Admit Weekend. Spending time on campus and around current students and other admitted applicants will go a long way in helping you decide which program is the better fit. If you cannot find a way to go to the Admit Weekend for each school you’ve been accepted to, do everything else you can to at least visit campus and sit in on a few classes. Worst-case scenario: try to speak or Skype with alumni and current students.

Then think about where you want to end up geographically after graduation. Is one program in your desired city—or at least in the same overall region? Does one program have a reputation for helping its students land jobs in the area you want to live?

If location isn’t a concern, then focus on what does matter most to you: recruitment stats for certain industries? Diversity? International opportunities? We know you reviewed all of this information when you were deciding where to apply in the first place, but now it warrants a second, closer look.

In the end, this may be the best advice of all:

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***

Do you want to stay on top of the application process with timely tips like these? Please subscribe to our weekly newsletter and you’ll receive our expert advice straight in your mailbox before it appears on the blog, plus special offers, promotions, discounts, invitations to events, and more.

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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
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Georgetown McDonough Partners with Peace Corps for MBA Scholarship Pro [#permalink]

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New post 06 Apr 2016, 06:00
FROM Stacy Blackman Consulting Blog: Georgetown McDonough Partners with Peace Corps for MBA Scholarship Program
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The Peace Corps has chosen Georgetown University’s McDonough School of Business to join its Paul D. Coverdell Fellowship Program, the school announced this week. Coverdell Fellows will receive a rigorous business education that also prepares them to make a positive impact on the community through careers in for-profit, non-profit, or non-governmental organizations.

Georgetown McDonough says it will waive the application fee for all returned Peace Corps volunteers who apply to the program, and those admitted to the full-time MBA program as a Coverdell Fellow will receive a minimum of $10,000 in tuition scholarship funding per year as well as the ability to apply for graduate assistantships.

Once enrolled, all fellows complete internships in under-served American communities, allowing them to bring home and expand upon the skills they learned as volunteers. A highlight of the Fellows program is the required Global Business Experience, which allows students to consult for an international company and solve real-world problems for a client. This six to eight-week experience culminates in a one-week global trip to meet with and present recommendations to the client.

“Georgetown University has a longstanding commitment to being men and women for others, as well as understanding the intricacies of different cultures around the world,” said David A. Thomas, dean of Georgetown McDonough, in a statement announcing the news. “By joining the Coverdell Fellows Program, we can reward incoming MBAs who already have the global mindset and value for serving society that we teach in our programs.”

In Georgetown’s optional application essay, eligible volunteers should note that they would like to be considered for the fellowship. Visit the Peace Corps website for more information.

Image credit: Georgetown McDonough School of Business

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
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INSEAD Deadlines for September 2017, January 2018 Intakes [#permalink]

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New post 08 Apr 2016, 07:00
FROM Stacy Blackman Consulting Blog: INSEAD Deadlines for September 2017, January 2018 Intakes
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INSEAD has posted the MBA application deadlines for the September 2017 and January 2018 intakes. They are as follows:

September 2017 Intake (Class of July 2018)
Round 1

Deadline: September 21, 2016

Interview Decision Notification: October 21, 2016

Final Decision Notification: November 25, 2016

Round 2

Deadline: November 30, 2016

Interview Decision Notification: January 13, 2017

Final Decision Notification: February 17, 2017

Round 3

Deadline: January 25, 2017

Interview Decision Notification: February 24, 2017

Final Decision Notification: March 31, 2017

Round 4

Deadline: March 1, 2017

Interview Decision Notification: April 7, 2017

Final Decision Notification: May 12, 2017

January 2018 Intake (Class of December 2018)
Round 1

Deadline: March 15, 2017

Interview Decision Notification: April 21, 2017

Final Decision Notification: May 24, 2017

Round 2

Deadline: May 3, 2017

Interview Decision Notification: June 2, 2017

Final Decision Notification: July 7, 2017

Round 3

Deadline: June 14, 2017

Interview Decision Notification: July 13, 2017

Final Decision Notification: September 8, 2017

Round 4

Deadline: July 26, 2017

Interview Decision Notification: August 26, 2017

Final Decision Notification: September 25, 2017

Applications must be completed and submitted by midnight French Time on the day of the deadline. For more information, please visit INSEAD’s admissions website.

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Chicago Booth Alum Gifts $10M for Veteran MBA Scholarships [#permalink]

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New post 11 Apr 2016, 07:00
FROM Stacy Blackman Consulting Blog: Chicago Booth Alum Gifts $10M for Veteran MBA Scholarships
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Military veterans seeking an MBA degree at the University of Chicago Booth School of Business will have a significant leg up, thanks to the $10 million gift from alumnus Eric Gleacher to fund a groundbreaking scholarship program for U.S. veterans.

The Gleacher Veteran Scholars Fund will provide a permanent source of scholarship support to help veterans bridge the gap between the benefits they have earned from the government and the remaining costs associated with receiving their MBA degrees from Booth.

The number of veteran students in Booth’s programs has increased substantially over the past several years, and currently, there are 78 veterans enrolled.

The Marines taught me a great deal about leadership, which is crucial to the success of every business.  A Booth MBA can inspire veteran students as future business leaders, preparing them for successful careers as entrepreneurs and executives in major companies.

“It was a winning combination, and I want to make it possible for those who have served our country to have the same opportunity,” Gleacher said.

Booth has built a reputation for providing veteran support through participation in the Yellow Ribbon Program, a voluntary program that allows universities to enter into an agreement with the U.S. Department of Veterans Affairs to fund tuition and fee expenses that exceed the established thresholds under the Post 9/11 GI Bill.

The Gleacher Veteran Scholars Fund will allow Booth to sustain and expand its financial support for veterans.

“Military veterans bring a great deal to the Chicago Booth community in terms of their experience, commitment to service, and maturity. I’m delighted we have significantly increased the number of veterans in our programs,” said Sunil Kumar, Booth Dean and George Pratt Shultz Professor of Operations Management.

“Eric’s gift will make pursuing an MBA at Booth significantly more affordable for many of these veterans, and thus will have a substantially positive impact on the Booth community as a whole.”

To learn more about Gleacher’s gift, please click here.

Photo by: Mackenzie Stroh for Chicago Booth School of Business
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Seemingly Similar MBA Applicants, Different Outcomes [#permalink]

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New post 12 Apr 2016, 06:00
FROM Stacy Blackman Consulting Blog: Seemingly Similar MBA Applicants, Different Outcomes
If Round 2 results from your dream school are in and you didn’t get the news you were hoping for, it can be pretty devastating. After months of hard work on your application and then a few more months of anxiety-ridden waiting, finding out that you weren’t accepted is tough.

When you’re already feeling confused, down or angry, learning that a friend or co-worker did get in is like having salt poured in your proverbial wound. If you believe you’re actually more qualified than the person you know who was accepted, it’s even worse.

Why do scenarios like this come to pass? How can it be that two people who work at the same place or are similar “on paper” meet such different MBA fates? How can someone who’s a stellar candidate receive a ding when a seemingly so-so applicant is accepted?

There are three main answers to those questions:

The MBA application process is subjective. Admissions committees consider thousands and thousands of qualified applicants each year and have developed a strong sense for who will fit best with their program. While you may think you’d be more of an asset to a certain school than an acquaintance who got in, the admissions committee felt differently.

You don’t know absolutely everything about your friend or co-worker’s candidacy. If you did your homework on the MBA process, you know that AdComs are looking for what makes applicants tick. They want to understand your personality. They are interested in more than just your career experience and “stats.”

Even if you read your friend’s essays, you probably don’t know every single detail that was included in their applications and recommendation letters, nor do you know everything that was discussed in their interview. Chances are your demographics, backgrounds and motivations are not as similar as you might have thought, and the AdCom saw something in your friend that they were looking for.

You may not have even been competing with your friend for a spot in the first place. As alluded to above, we know that each program strives to put together a diverse class of impressive people. However, no one knows the magic formula that any given AdCom uses to fill open spots.

But what we do know is that it’s not as straightforward as most applicants assume—meaning that everything from your gender to your industry to your nationality to your career aspirations, community service and personality comes into play when an AdCom attempts to build a graduating class.

We know how tempting it is to play the comparison game. But unfortunately, doing so won’t change anything or make you feel any better. The best thing you can do is try to be objective about how you could improve your candidacy if you reapply next year—or consider additional programs that might improve your odds.

Think of it this way:

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

_________________

Interested in a free 30 minute consultation with the Stacy Blackman Team? Sign up here: http://stacyblackman.com/contact

Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
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Seemingly Similar MBA Applicants, Different Outcomes   [#permalink] 12 Apr 2016, 06:00

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