tag:blogger.com,1999:blog-62556715046312356322024-03-08T05:03:11.367-08:00MBA Admissions and CareersMBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-6255671504631235632.post-43093341045958806012014-03-18T19:02:00.003-07:002014-03-18T19:03:23.842-07:00TOP 10 BEST PRACTICES FOR PREPARING YOUR MBA APPLICATIONSThis year will be the 10th year (!!) that I've been doing this under my own MBA Apply shingle. Surprising that I never put together something like this, but consider this some best practices I've learned in the 10 years I've been working with tons of applicants from practically all walks of life.<br />
<b><br />1. GET THE GMAT OUT OF THE WAY FIRST BEFORE ANYTHING ELSE.</b><br />
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Preparing for the GMAT exam requires focus, and you owe it to yourself to get the strongest score you can. While a high score won't be an asset, a low score can keep you out. For top 16 schools, aim for a 700 at a bare minimum, and ideally a 720+. For top 30 schools, aim for a 660 minimum and ideally a 700+. It's not impossible to prep for the GMAT while working on your applications (and you may have to do both in parallel if you have to retake it), but the more time you have to prepare for the GMAT, the better. In essence, aim to finish your GMAT by May/June in the year in which you intend to apply (either for the October Round 1 deadlines or January Round 2 deadlines).<br />
<b><br />2. VISIT A FEW SCHOOLS WHILE CLASS IS IN SESSION.</b><br />
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Regular classes are held from September to April (with August being pre-term for some schools, and May being final exam month for most schools).<br />
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School visits can be invaluable. You get first hand experience with what a business school environment "feels like" in a way that no website, brochure, discussion forum, or second hand information can provide.<br />
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Aside from the Q&A info sessions that adcoms may organize as well as sitting in on class, perhaps the most invaluable insight you'll get about a specific b-school (or just b-schools as a whole) is to talk to current students one-on-one, where they will be far more likely to open up "off the record". Offer to buy them a quick coffee, beer or even a meal. They are broke (or heavily indebted) students who will appreciate free drinks and food.<br />
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Again, visiting schools isn't about currying favor with the adcoms at all (the only people they will remember are those who make complete asses of themselves because of the sheer number of people they come in contact with in any given year), but for your own sake. That first hand experience will make it easier for you to write about what you want from b-school in a more personal, specific way.<br />
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Aim to visit a few schools. They don't all have to be your target schools. For example, if you're heading to Chicago to visit Booth, go and visit Kellogg while you're at it even if you don't plan on applying there. Or, if you're heading to Philadelphia to visit Wharton, take a quick day trip to New York and visit Columbia and Stern.<br />
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Visiting 2-3 schools will not only de-mystify what b-school is like, but it'll only help you hone in on what it is you want to get out of the b-school experience.<br />
<b><br />3. APPLY TO 4-7 SCHOOLS TOTAL.</b><br />
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Since there are way more folks of a comparable caliber applying than there are spots available at any one b-school, the admissions process can be a total crapshoot. As such, it's a numbers game. Apply to too few schools, and you won't maximize your odds. Apply to too many schools, and you'll dilute your efforts across too many schools.<br />
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Target around 4-7 schools to maximize your chances, with the expectation that it's unlikely you'll get into every school you apply to. Spread it out across a range of schools: 2-3 stretches, 2-3 sweet spots, and 0-1 safeties. "Stretches" are schools where you have enough of a shot that they're worth applying to, but you'll need a bit of luck to get in. Sweet spots are schools where you have a more reasonable shot of getting into given your profile. Safeties are schools where you are virtually guaranteed to get into.<br />
<b><br />4. AIM FOR A SWEET SPOT OF 5-10 WEEKS TO COMPLETE ALL YOUR APPLICATIONS.</b><br />
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Although completing the applications does take some time, effort and focus - there isn't so much to do that it is a full-time job. Give yourself at least 5 weeks, and at most 10 weeks to complete all your applications, with the expectation that you'll be working on it a few hours each week.<br />
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Anything less than 5 weeks, and chances are you'll be rushing to get them in before the deadlines. Anything more than 10 weeks, and you risk "overworking" and overthinking your essays (polishing them to a point where your second-guessing will actually worsen the quality of your written applications). There is only so much you can do before it ends up being an exercise in rearranging the furniture.<br />
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This means if you're applying for Round 1 deadlines, as long as you begin by mid- to late-August, you should be fine. And for Round 2 January deadlines, you should start on your essays no later than mid- to late-November. <br />
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<b>5. FOCUS ON ONE SCHOOL AT A TIME.</b><br />
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Around 80-90% of your time and effort will be spent on the first 2-3 applications (or even the first 1-2 applications, depending on the degree of overlap in the essays for your target schools).<br />
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You will find that once you've completed a few schools, each additional school will take very little time. In fact, by the time you get to your 4th school and beyond, it can take a week or even just a day or two to get them done.<br />
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Even if the essays or messaging are different from one school to the next, there's a learning curve - once you're "in the zone" after having done a few and you have a more natural feel for writing b-school essays, you'll find that it progressively takes less time to complete each subsequent application.<br />
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Focusing on one school at a time will help you focus, while also giving you the best chance of completing your entire list of schools in the most effective manner. <br />
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You don't have to be dogmatic about completing them one at a time, but avoid working on them in parallel as much as you can. What this also does is it gives you time away from a particular application, and that time away is invaluable, because it allows you to revisit the applications with a fresh set of eyes before you submit. What you may find is that while working on your 5th school application for example, you discover some new insights that you can incorporate into your 1st school application - insights that you may not have come up with had you tried to juggle a bunch of school applications at once and feeling overwhelmed about it.<br />
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<b>6. THINK, WRITE AND SPEAK IN PLAIN ENGLISH.</b><br />
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For many b-school applicants, they have forgotten how to write in plain English, because most if not all of the writing they have been doing since college has been in a corporate work environment.<br />
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Every industry has their own shorthand, jargon, and figures of speech - to the point where in some cases it has morphed into its own dialect that only people in that industry can understand.<br />
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Most applicants can write about their personal lives or anything they do outside of work in plain English (no one would ever say "My spouse and I consolidated into a mutually beneficial union due to our aligned interests"). However, a lot of applicants have never had to write, speak or even think in plain English at work, because everything at work is communicated in an industry dialect or "corporate speak." Just bear in mind that if you are talking about your work in a resume, essay, or interview - you will likely have to act as your own English translator.<br />
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One effective way to help you write in a clear way is to read your essays out loud. If it sounds stiff, abstract and formal - then it probably is. Your essays should sound like YOU outside of work. The language should sound like how you talk, except without the decorative "ums, ahs, you know's, see what I mean, like, yeahs, " and so forth.<br />
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<b>7. HAVE OTHERS READ AND CRITIQUE YOUR ESSAYS.</b><br />
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Feedback is essential. That third person perspective is something you do not have when you're knee deep in your essays.<br />
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Get your friends, colleagues, family members, or even paid consultants to review your writing for clarity, specificity, economy and tone.<br />
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Chances are, you will get conflicting feedback. That's normal. Narrative writing is subjective, and not everyone will have the same opinion about your "story" - what you wrote, or how you wrote it. As the author of your narrative, it is a judgment call (and yours alone) as to what feedback to incorporate and what to ignore. Frankly, the entire application process is a judgment call from both the applicant's and adcom's perspective. However, you can make more informed choices about your essays (in whole or in part) when you get feedback from others who are not in your head.<br />
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<b>8. GIVE YOUR RECOMMENDERS 4-6 WEEKS TOTAL TO COMPLETE ALL THEIR REC LETTERS - NO MORE, AND NO LESS.</b><br />
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This may sound counter-intuitive, but you do not want to give your recommenders too much time. The reason is simple: the more time you give someone, the more time they have to procrastinate. And the more they procrastinate, the more likely they'll rush to submit it at the very last minute. Don't project your own stakes onto others: yes, the applications mean a lot to you personally, so you'll be more motivated and uptight about every single little thing, trying to get everything done and to the tee. Your recommenders frankly don't have those stakes, even if they really like you, and as is human nature - they will procrastinate and sit on it if given the chance. You would too if you were in their shoes and being asked to write them for someone else.<br />
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Having said that, by all means, talk to potential candidates who you would like to write your recommendation letter a few months before the deadlines so that you can finalize who your recommenders will be.<br />
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But give them the materials to submit their recommendation letters around 4-6 weeks from the deadline. That way, they have enough time to write them to the best of their ability, but not so much time that they can completely set it aside and forget about it.<br />
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<b>9. AIM TO SUBMIT IN THE 1ST OR 2ND ROUND; AVOID THE FINAL ROUND</b><br />
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For most schools, they build most of their class from their first two rounds, so by the time the last round comes around, there are few spots left and as such, the decision process is even more subjective and random. This is especially the case if you are a traditional applicant (finance, consulting, engineering, healthcare, corporate) because it's unlikely they will need or want any more traditional applicants by the time they review applications from the final round. If anything, they are hoping to fill the class with more non-traditionals from non-profit, military, arts/entertainment/sports, and so forth. Again, nothing is impossible, but if you can, avoid the final round.<br />
<br />
If you are undecided between the 1st and 2nd round, just know that it makes no difference from an admissions perspective (your chances are the same). However, I have found that applicants who aim for the 1st round tend to be more productive, even if they are busier at work. The reason for this is simple: when you are busy at work, you have no time to navel gaze or to procrastinate. You just execute. <br />
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The 2nd round tends to be a more difficult deadline to aim for simply because of the holiday season: from Thanksgiving to the New Year, it's a dead zone. A lot of applicants mistakenly believe that because they have all the time in the world because they will be with their families or on holiday, they can focus on their application. And they are often wrong, because it's much harder to substitute between "personal time with family/friends" and "b-school applications". It's far easier to procrastinate and waste time when you have that time to waste, and there's this mad rush to complete the application nursing a New Year's hangover.<br />
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So ideally, aim for the 1st round, but know that the 2nd round is also fine (except that it'll likely be more difficult for you in terms of time management). And avoid the last round if you can.<br />
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The only exception to this is Columbia and Sloan - the only schools that have 2 rounds of admission. For both of these schools, treat their 2nd round as the "final round." In other words, for Columbia and Sloan, aim for their Early Decision and R1 deadlines respectively.<br />
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<b>10. TREAT THE ENTIRE APPLICATION PROCESS AS PARALLEL TO YOUR CURRENT CAREER TRACK.</b><br />
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In short, don't quit your job to focus on the GMAT or the b-school application. It doesn't signal to the adcom that you're focused. Instead, it tells them that you're not as competent as the other applicants out there who can still put together strong applications even as they are juggling work, family and extracurriculars.<br />
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If you happen to be unemployed at the time of application, make sure you're staying productive on something, whether it's volunteering, working freelance gigs, or just something that is allowing you to continue moving your life in a forward direction. The last thing anyone wants to see is someone who is in a holding pattern in their life, as if b-school is some panacea they are waiting for before giving themselves permission to make life choices.<br />
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And this goes for those who are also currently employed. Treat the b-school application process as a parallel track. If you get in, it should be an *option* (the option being: "should I go, or should I stay in my current job, or even should I switch to another job?"). It should not be the only door you're waiting for to open.<br />
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B-schools want to accept people who don't need them, just like a bank tends to lend money to those who need it the least. B-schools appreciate enthusiasm, but there can be a fine line between enthusiasm and desperation, and there is no worse turn off than a desperate person.<br />
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The more you treat b-school as an option (and not a necessity), the more likely it'll come across in how you communicate in your essays as well as in your interviews. You're more likely to come across as confident and enthusiastic, as opposed to desperate and needy.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com1tag:blogger.com,1999:blog-6255671504631235632.post-4398272037939612602013-06-28T17:52:00.000-07:002013-06-28T17:54:38.666-07:00AN ALTERNATIVE TO ENTREPRENEURSHIPOne of the most common aspirations of many MBA applicants and students is wanting to start a business of their own one day. In prior posts, I have cast doubts on whether an MBA is even worth it for aspiring entrepreneurs (at least those who are looking to start a business in the short-term), but I also recognize that it's just my opinion that others may disagree with. So what I write below assumes that if an MBA was worthwhile for an aspiring entrepreneur, what is one way to navigate the transition from MBA student to entrepreneur?<br />
<br />
There are many hurdles in making this a reality. The economic cycle certainly matters, since in good times one is more likely to be optimistic and risk taking compared to bad times when it may be wiser to hunker down. Financial circumstances also matter: with many MBAs taking on significant debt to pay for school, it may be too much to take on that much risk in the shorter-term. Another blindingly obvious hurdle is simply not having a compelling enough idea - that one is in love with the idea of entrepreneurship, without a specific enough business concept in which to channel all that love. <br />
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Oftentimes though, as great as all these hurdles may be, the biggest one is simply fear of the unknown. Even those who have started their own side businesses before, there can still be this fear of taking that big leap into becoming a full-time entrepreneur - because the stakes are much bigger if one is looking to make a full-time living from the business.<br />
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And in many ways, the psychological shift from working for someone else to being one's own boss is a big leap not unlike any major life transition (becoming a spouse, to becoming a parent, and so forth). It not only changes the way you work, but changes the way you see your work. And that can be a scary thing because it plants a series of self-sabotaging questions in the back of your head that you may be afraid to answer:<br />
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If it fails, will I be tough enough to cope with the aftermath? If it's successful, what if I don't like being an entrepreneur?<br />
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We are as scared of failure as we are of success, especially when we anticipate that it involves upending our status quo (making a big shift in what we do and who we are in the workplace) to even make that leap. For many aspiring entrepreneurs coming out of business school, it will mark the first time they would be working for themselves on a full-time basis.<br />
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Being one's own boss has been romanticized in our culture, and so much emotional energy can be invested in the fantasy of being the next great pioneer, the next self-made billionaire. And I think most people with notions of starting a business recognize on an instinctive level that it's not all roses, because if it were that romantic and glamorous, there would be a lot more entrepreneurs out there.<br />
<br />
Regardless of which hurdles are the key drivers in preventing you from making that leap, one alternative is this:<br />
<br />
Work for a startup.<br />
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You don't have to start your own business right away. While work cultures can vary from one startup to the next, at many startups the chaotic and fluid nature of your workweek and responsibilities requires a different mentality than working for an established company.<br />
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Working at a startup (or a more established VC-backed company) can give you a taste for what's to come. Not only will you get broader responsibilities that have a more direct impact on the company, you will also have more leeway to define what your responsibilities are, as well as initiate and execute ideas without running into a clusterf*ck of committee meetings and approvals. Even if you officially have a "boss" (usually the founders), it can feel more like you're working WITH them and not FOR them.<br />
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While it's not the same as actually running your own company as a founder/CEO, working at a startup can give you experience in the trenches - allowing you to experience what it truly feels like, while giving you a bird's eye view of what the founders are going through. And experiencing that startup environment will either scare you away from it, or embolden you in the future to start your own. Or you can walk away from it still unsure, but with that experience, there's less "fear of the unknown" should an opportunity to start your own business comes up years (if not decades) down the road.<br />
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Again, if you have a business idea and you're ready to go full steam ahead, go for it! But if you don't have one, you're unsure, or there's hurdles you can't overcome at this point in your life, don't fret -- you can always work for a startup for now, make the most of that experience and take it from there.<br />
<br />MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-21433895344191745322013-04-22T09:11:00.000-07:002013-04-22T09:36:00.214-07:00IS BUSINESS SCHOOL WORTH IT?<style>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">IS BUSINESS SCHOOL WORTH IT?</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">One of the most basic but important question I get from
folks is whether an MBA is worth it (and in particular, a full-time program).</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">The debate seems to have been going on ad infinitum, with
sentiment ebbing and flowing with the state of the economy. </span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">From a practical standpoint for many folks who are deciding
on whether to apply or not (or whether to attend or not * after * they have
gotten admission!), the answer may be clearer than you’d expect.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">1) CONSULTING: AN MBA IS BASICALLY A PREREQUISITE</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Regardless of your prior professional background, if you’re
looking to work as a management consultant at firms like McKinsey, Bain, BCG,
Monitor, LEK, Accenture, Deloitte, etc. then an MBA is worth it, because you
don’t really have much choice: you’re highly unlikely to get hired without one.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Even if you are a consultant looking to upgrade your brand
(i.e. you work at a small no-name consulting firm and hoping to work at
McKinsey), your chances are slim unless you get an MBA. And even if you are
looking to stay at your current firm, you will likely be highly encouraged to
go back to do an MBA (read: your chances of getting promoted to a post-MBA
position are slim unless you have one).</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Moreover, for many of these firms, you essentially have to
shoot for the top 16 US programs (and LBS and INSEAD in Europe), since these
consulting hire the majority of their incoming associates from these programs. You
will get some MBA hires who did not go to these schools, but they are a
minority. They will also hire some folks from law schools or direct industry
hires, but for the most part, consulting firms have a highly structured (and
highly stratified) recruiting process that focuses on a select number of
schools.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">2) FINANCIAL SERVICES: AN MBA IS A MUST IF YOU DON’T HAVE A
FINANCE BACKGROUND</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Regardless of what aspect of financial services you’re
looking to work in – investment banking, equity research, sales/trading, asset
management, private equity, hedge funds, venture capital, commercial
lending/underwriting, insurance, etc. – if you don’t have a finance background
and looking to make a career switch into it (even if you have
corporate/business experience), then you’ll have a very hard time getting these
jobs without an MBA.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">The culture of financial services doesn’t value the MBA to
the same degree as consulting, but it is often seen as a passport to getting in
the door for those with no prior relevant experience. And areas such as
investment banking focus their recruiting efforts almost exclusively on top 16
MBA programs.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Also, if you’re in a “back office” or “middle office” role
at a financial institution (or you’re in any support function such as IT at a
bank), and you’re looking to make that switch into revenue generating functions
as listed above, then an MBA is worth it to re-brand yourself because it’s hard
to make that switch without one.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">While some schools have introduced specialized Masters’
programs in finance, these programs are still relatively new compared to the
established MBA programs. Basically, if you had the choice, the MBA is the
better bet and will give you more access to recruiters than a specialized
masters program.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">3) NON-BUSINESS PROFESSIONALS SEEKING A CORPORATE CAREER IN
THE US</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">If you are coming from a non-business profession (engineer,
science researcher, lawyer, doctor, military officer, teacher, athlete, artist,
etc) and looking to transition into business job function, then an MBA can be
extremely valuable. Although not a must like it is for consulting or financial
services, getting an MBA is certainly worthwhile enough since making that
transition into a business career will be easier and faster.</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">“Corporate life” basically includes the two industries above
(consulting and financial services), but also any job function on the business
side in any industry: marketing, operations, financial planning/corporate
finance, business development, corporate development, human resources, investor
relations, etc. In many of these jobs beyond the college entry level, they
require either relevant prior experience or an MBA (and most of these firms
will not hire you to start alongside fresh college grads at the entry level).</span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">4) BUSINESS PROFESSIONALS SEEKING TO SWITCH INDUSTRIES</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Basically, an MBA makes it much easier if you’re looking for
a fresh start (without having to fully start over) in a new industry. For
example, you’re a brand manager at a consumer products company who is looking
to switch into business development at a green technology firm. Or, you’re an
investment banker looking to work in sports marketing.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">This also applies to social enterprise and non-profit, since
the kinds of jobs you would be aiming for on the admin/managerial side tend to
be staffed by “corporate refugees” who previously worked in the private sector,
and tend to hire people in their own image (i.e. those with business
backgrounds and/or with MBAs).</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Of course, it’s certainly more possible to make this switch
without an MBA (unlike the other three situations above), but an MBA will make
it a lot easier for you to make that switch without having to take a huge step
back in pay and responsibility.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">--------</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">So if any of these four things applies to you, then the
answer is easy: an MBA is worth it (assuming you believe these careers to be
worth pursuing), even without considering any of the intangibles or personal
factors, such as the network, taking two years off for personal “me” time,
discovering new interests, learning more about other careers, and so forth.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">SO WHEN IS THE MBA NOT WORTH IT FROM A CAREER STANDPOINT?</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Simply put, an MBA won’t have much benefit from a career
standpoint if you are already working in a business job function AND you’re not
interested in switching to consulting or financial services.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">For example, if you’re a banker or PE guy who wants to stay
in finance (in any capacity), an MBA won’t be worth it from a career
standpoint, because an MBA isn’t going to make it any easier for you to change
from one firm to the next, or from a PE to a HF and back again. It ultimately
comes down to your transaction experience, network, and the job market in the
industry - when it’s hot, you will have firms coming to you; when it’s cold, an
MBA won’t help you land jobs that don’t exist.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Or if you’re simply looking to move up the ladder in your
industry in a similar job function, then you don’t need to go back full-time:
consider doing a part-time MBA or an executive MBA down the road.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Finally, if you’re looking to start your own business in the
short-term, you are better off investing that money in wise counsel and getting
that business off the ground right away while the idea is still hot in your
mind, rather than spending two years in business school where you will learn
mostly “book knowledge.” The biggest problem with business schools and
entrepreneurship is that business schools unwittingly teach students to
conceptualize their way through problems as a substitute for rolling up their
sleeves and getting their hands dirty. In plain English, they confuse analysis
for execution, and running your own small business often lives and dies more on
the latter than the former. </span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">THE MYTH OF THE LONG-TERM</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Forget about the long-term value or even the medium-term
value of an MBA. The reason why is simple: it’s debatable, it’s a matter of
opinion, and it’s ambiguous. You will get more conflicting and differing
opinions on this than you would on what it will do for you in the immediate
term (i.e. right after graduation). Furthermore, if the value of the MBA in the
short-term is limited at best in your situation, then it’s not going to be any
more valuable in the medium- or long-term.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">When deciding whether an MBA is worth it to you or not,
focus on the short-term benefit: what it will do for you in terms of recruiting
while you’re an MBA student? Will it give you access to the kinds of jobs you
want immediately after graduation? While it may seem cynical to disregard the
academics – the reality is, the MBA is a professional degree whose main purpose
is to turn students into employable business professionals after graduation, so
the academics aren’t an end in itself, but a means to that end. While business
schools would like to say that they want to teach you knowledge that you can
use for your entire career long-term, the reality is, the kind of knowledge and
decision-making you do in the long-term will have little to do with what you
learned ten years prior in b-school, and more to do with your recent
experiences and lessons learned in the past three to five years. <span style="mso-spacerun: yes;"> </span>Again, the value of what you learn in business
school is most relevant (if not exclusively relevant) to your first few years
after business school.</span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"></span></div>
<div class="MsoNormal">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">In plain English, the MBA is ultimately about helping you
secure the kinds of jobs in the short-term you want that you couldn’t have
gotten without the degree (or would at least make it a lot easier for you to
secure those kinds of jobs). That, more than anything else, dictates whether
the MBA will be worthwhile to you.</span></div>
MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-12640344027357882322013-04-22T09:06:00.002-07:002013-04-22T09:34:10.507-07:00WHY BUSINESS SCHOOL ADMISSION IS LIKE GETTING SIX-PACK ABS<style>
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">WHY BUSINESS SCHOOL ADMISSION IS LIKE GETTING SIX-PACK ABS</span><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span>
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">As an
admissions consultant, what I do in a nutshell is to coach people on their
applications – the essays, resume, recommendation letters, application forms,
interviews, and just about any issue under the sun that pertains to business
school: career goals, business school life, and whether even to bother applying
to school at all.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">In many
respects, what I do for business school applicants is analogous to what a
personal trainer does for fitness clients.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">One of the
most common queries I get from prospective clients is this:</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">“I have a
GMAT that is much lower than the averages for my target schools. Can you help
me overcome that?”</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">The quick
answer is, no. Is there a chance you can get in DESPITE a lower GMAT?
Absolutely. But that doesn’t involve “essay magic.” It’s luck and highly
unusual circumstances (you’re sleeping with the adcom, you have the President
of the United States backing you, your parents have a building in the school
named after them, and so forth).</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Believing
that somehow a low GMAT can be easily mitigated by an exceptionally executed
application assumes that there are enough of your fellow applicants who will
have crappy applications. The thing is, regardless of GMAT score, just about
all applicants will be putting in their best effort. A lot of applicants with
GMAT scores that are average or above average are going to be putting in great
applications. Gone are the days where the majority of applicants were submitting
in crappy essays. With all the resources and knowledge out there that are just
a few Google searches away, most applicants have the savvy and know how to put
together specific, clear, organized and polished essays. And yes, quite a
number of these folks who have average to above average GMATs are also getting
help – from consultants, MBA alums, colleagues, and other people who are giving
them feedback on their applications.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">So any
consultant who claims that they can somehow pull the wool over an adcom’s eyes
and get them to admit you in spite of a low GMAT is akin to those TV
infomercials selling abdominal machines with the promise of six-pack abs.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">To claim
that using their abdominal exercise contraptions can give you six-pack abs
isn’t outright lying, but it’s misrepresentation. Yes, you can get six-pack abs
with exercise (crunches, sit ups and any form or combination of abdominal
exercises). But all the exercise in the world won’t give you those six-pack abs
if your diet and genetics aren’t already putting you in a position to make
those exercises effective.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">And that’s
what the GMAT is – it’s like diet and genetics. All the “essay magic” in the
world won’t really help to fundamentally change your chances if your GMAT is
out of range.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">So this may
seem like I am working against my own interests – I mean, as an admissions
consultant, I should be telling you that “hey, if you sign with me, I can help
you overcome your GMAT score!”</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">But that
would again be akin to a personal trainer telling you that your diet and genes
are not important – so long as you follow his/her patented “transcendental metaphysical
crunch!” method, you will get ripped in just 45 days or less. Would you trust
someone who is more focused on sales than on giving you honest advice that
serves your best interest? In other words, are you looking for a sales person,
or an advisor? There’s that old saying that if it sounds too good to be true,
then it probably is (or they are giving you a sales pitch).</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">In other
words, I can certainly help make sure you’re doing the best you can on the
applications so as to maximize your chances – but you’ll still be a stretch if
your GMAT isn’t competitive, plain and simple.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">I know that
the GMAT is a pain in the ass. I hated it myself. I have a greater aversion to
sitting still figuring out multiple choice questions than the average person. But
it’s one of those necessary evils. And if you have tried all you can, taken it
multiple times and still cannot hit the ranges of your target schools, then
it’s something you have to simply man up and live with. This doesn’t mean you
should just give up and not apply at all – but that if you do apply with a
significantly lower than average GMAT score, just have some realistic
expectations of where you stand. That may be hard to hear, but it is the truth.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">Before
embarking on the actual applications, you need to do whatever it takes to score
within range for the schools you’re targeting.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">The irony
is, those who care least about the GMAT are those who probably need to boost
their score, and those who obsess over their GMAT probably need to relax and
focus on the applications.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">In short,
here’s the rule of thumb:</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">You need to
be within 20 points of your target school’s incoming GMAT average, and ideally
at the average or more. That’s it. A much higher than average score will not
help, but a score that is 20 points or more below the average will be a
significant handicap.</span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: Georgia,"Times New Roman",serif; font-size: small;">In sum, the
GMAT isn’t the ONLY factor for admission, but it is an important first hurdle.
In other words, having an average GMAT is just the starting point to determine
whether you are even in the running or not for your target b-schools – much
like a great diet and genes are necessary before even determining whether
exercise can even get you the six-pack abs you want.<span style="mso-spacerun: yes;"> </span>###</span></div>
MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-46252108344943431922011-11-28T19:50:00.000-08:002011-11-28T19:54:50.279-08:00THE ELEPHANT IN THE ROOM: RACE AND PRESTIGE<style> <!-- /* Font Definitions */ @font-face {font-family:"MS 明朝"; mso-font-charset:78; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:1 134676480 16 0 131072 0;} @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:0; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:-536870145 1107305727 0 0 415 0;} @font-face {font-family:georgia; panose-1:2 4 5 2 5 4 5 2 3 3; mso-font-charset:0; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:3 0 0 0 1 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:""; margin-top:0in; margin-right:0in; margin-bottom:10.0pt; margin-left:0in; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"MS 明朝"; mso-fareast-theme-font:minor-fareast; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:JA;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"MS 明朝"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:JA;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.WordSection1 {page:WordSection1;} --> </style> <p class="MsoNormal" style="margin-bottom: 0.0001pt;font-family:georgia;"><span style="font-size:85%;"><a name="_GoBack"><span style=";font-family:georgia;" >Consider this:</span></a></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="font-size:85%;"><a name="_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language:EN-USfont-family:georgia;" ><br /></span></a></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">You walk into a college classroom where most of the faces are Indian and Chinese (or “South Asian” and “East Asian” for the more broad term – and in this context, it’s not really a question of citizenship i.e. Indian-American vs Indian but of race).</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">If you were a recruiter for Goldman Sachs, McKinsey, Apple or any global company, would you perceive this school to be MORE or LESS prestigious? If you were a recruiter where post-MBA jobs are managerial and become more relationship-based (not analytical/technical), and where the key contacts your company corresponds with (investors, Board members, clients, customers, government officials) are mostly white (American or European), or at least a sprinkling of various nationalities and cultures (but still mostly white), would you be more willing to hire students from this classroom, or would you be more inclined to recruit from a similar caliber of school where there were more white faces in the class?</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">Now, if you were an applicant and walked into this very same classroom, would you perceive this school to be more prestigious or have an “exclusive” brand compared to a class that is more diverse (or where at least half were white)? As an applicant, would your opinions be different depending on your own race or nationality (which gets into the ugly truth that even in non-white countries, the perception of prestige and exclusivity is still defined by whether white people will buy it). And if b-school classrooms looked more like MS-Engineering programs (where the overwhelming majority are Indian/Chinese), would that increase or decrease the likelihood of you applying to a highly selective business school? (Note that “highly selective” and “prestigious” can be related but are not synonymous.)</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">And herein lies the ugly truth of race, prestige and admissions.</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">For business schools, and especially those in the very top tier like Harvard, Stanford, Wharton, and so forth – a big part of ensuring that their MBA programs stay relevant is to maintain their perceived prestige (exclusivity), because as we all know – while having an MBA can be of value, it’s not necessary for success in business, as amply shown by countless examples of incredibly successful entrepreneurs and executives out there without any formal business education. The perception of exclusivity for b-schools is rooted in the assumption that blue chip white males/females are the people others (regardless of background) want to be associated with. And that feeds on itself – the more of these people who apply, the more it will attract others to apply (including Asians), which creates a “network” which b-schools will then trumpet as something invaluable to its students (who are then networking with each other).</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">That’s why b-school admissions is more like the selection process for a private club: a country club, the freemasons, a hot nightclub (bring in all the hot girls, groups of guys are left standing in line), motorcycle club, or any sort of private organization. They can admit and reject whomever they want, and constantly change the parameters for admission to suit their needs (which isn't to graduate the "best and brightest" but to maintain that perception of prestige). Business school admissions is NOT a meritocracy, and it never really was, since the admissions process by nature is subjective and a "black box" if there ever was one.</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">When it comes to race and admissions, it’s not about trying to marginalize white or Asian applicants in the name of diversity – that seems to be a common refrain from many detractors who feel that adcoms are on some socialist, pinko, leftist agenda to admit as many “blacks, Hispanics and lesbian paraplegics” (of course, all mentioned in a derogatory tone by these very detractors) into b-school over more qualified white and Asian candidates –which is simply not the case because that is not what recruiters want, and it’s not what will ensure that applicants see these b-schools as “prestigious” (which will ensure that these schools continue to receive a crapload of applications each year).</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">In short, top MBA programs want their schools to be *diverse* (read: mostly or at least half white) rather than *ethnic* (read: mostly non-white) – that helps to ensure perceived prestige and exclusivity in our current culture of how we view the relationship between race and status symbols, which then helps to attract the maximum number of applicants as well as the most “exclusive” (read: highest paying) corporate recruiters. That is partly why they also are looking at younger candidates: it’s a way of reaching into the blue chip American pool (white kids with Ivy/equivalent backgrounds) to ensure that their numbers don't drop off to the point where b-school has to start looking like an MS-Engineering program – the less white people in the applicant pool, the more “ethnic” they have to go. This is ugly to say, but it's what is bubbling underneath all of this.</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">The one big silver lining to all this is that how we perceive race changes over time – it’s not static, but fluid. Even now, for many b-schools, the incoming classes are no longer overwhelmingly white, but again, the schools are “diverse” and not “ethnic”.</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;font-size:10.0pt;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style=""><span style="font-family:georgia;font-size:10.0pt;">One example of how perceptions changed is that of the Jewish community – from “ethnic” to “mainstream.” Ivy League schools in the post-WWII era had a reputation for an unspoken two tiered admissions standard as a way to stem the influx of Jewish students for the very same reason: the perception of prestige. Many of these Jewish kids had as strong if not stronger credentials than their white counterparts to the Ivy League’s law and medical schools (b-schools back then were a bit of a backwater), but would still be underrepresented in these classrooms relative to the applicant pool. And yet, within a generation, that bias (at least when it comes to university admissions) has all but disappeared by the early 1980s.</span></span></p><p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack;font-size:85%;" ><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;" ><br /></span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack;font-size:85%;" ><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;" > </span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack;font-size:85%;" ><span style=" mso-bidi-Times New Roman";mso-fareast-language: EN-USfont-family:georgia;" >With race and prestige today, I am confident it will change as the economic and cultural input of non-Western communities is considered mainstream, but this is where we’re at right now. So who knows, maybe in 10-15 years time, these biases may disappear altogether at least in this context of university admissions.</span></span></p> <p class="MsoNormal" style="margin-bottom: 0.0001pt; font-family:georgia;"><span style="mso-bookmark:_GoBack"> </span></p>MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-27458267612873203762011-03-03T09:15:00.000-08:002013-04-26T15:33:17.518-07:00How would you differentiate the top schools? (updated)I assume you’ll do your own research, and since there’s so much info out there on the websites, discussion forums, etc. which take a pretty dry approach in comparing schools, I’ve decided to stick with the car analogy – when you strip away all the discussion about GMAT averages, salary stats, career placement profiles, student satisfaction surveys, rankings, etc. you’ll find that these analogies are pretty apt (if I must say!). The reality is, these schools are far more similar than they are different, so here’s a bit of a tongue-in-cheek comparison of the schools’ reputations:<br />
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<span style="font-weight: bold;">HARVARD BUSINESS SCHOOL</span><br />
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<img alt="" src="file:///Users/axchu/Documents/01FILES/ARCHIVE/Archive%20-%20Website/MBA%20Apply/images/a0000001.jpg" />HBS is like a British exotic car of varying quality – Rolls Royce, Bentley, and Aston Martin. They are Establishment, top hats and all. Like British exotics, HBS is really known for its heritage and prestige (with sport performance and classic styling to back it up). Some drivers are able to break the "unapproachable" mold and will take their cars for a bit of a joyride, but some are trapped in the pomp and circumstance of their cars. Only drawback is that they are incredibly high maintenance (more reliable than Italian exotics, but the repair costs are astronomically high) and insist on being noticed. And watching an HBS alum “fail” a la Jeffery Skilling is like seeing a Bentley stranded on the side of the road – everyone else can’t help but gloat.<br />
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<span style="font-weight: bold;">STANFORD GSB</span><br />
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Stanford is like an Italian exotic – from iconic marques like Ferrari, Lamborghini, and Alfa Romeo, to super exotics like the Pagani Zonda, as well as the “all style and no substance” that are the Maseratis. In terms of styling and performance, they are bold, distinctive, and anti-authoritarian much like Stanford – built as if to be a complete counterpoint to the British exotics. They aren't the most reliable cars, but they sure look good, and they are the ultimate joyride car, risks be damned (few cars can replicate the exhaust note of a Ferrari). If HBS is about prestige, Stanford is about rebellious sex appeal. Just like not every Stanford GSB alum is of the same caliber, knowledgeable “car guys” know that there’s a huge difference between Ferarri and Maserati – the former is a real sports car, while the latter is a piece of sh*t. But to the uninitiated, they draw attention in equal measure.<br />
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<span style="font-weight: bold;">WHARTON (UNIVERSITY OF PENNSYLVANIA)</span><br />
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Wharton is like a German exotic – Porsche, AMG, Maybach, Alpina, and Ruf, which represents a long history of performance that is analytical, clinical and precise, with styling that has always maintained a sporty middle ground, in between the conservative or even stodgy styling of the Brits and the more extreme elements of the Italians. They combine the quality/reliability of German engineering that the British and Italian sports cars don't have, with the cachet that rivals only the British and Italian luxury cars. The styling for the most part hides some of the best engineering under the hood, so the cars tend to draw less attention on the road. For example, most people may not even know the difference between an AMG or a regular Benz, much like most people may not have heard of Wharton, but when you say “Penn”, they respond, “oh, Penn State.” Moreover, they don't quite have the same cachet of the British and Italian luxury cars, even though many drivers would still kill to say “I drive a Porsche” even if it’s just a Cayenne (i.e. a Toyota SUV with a Porsche stamp).<br />
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<span style="font-weight: bold;">BOOTH (UNIVERSITY OF CHICAGO)</span><br />
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Booth is like Mercedes-Benz – one of the preeminent luxury car brands, but without as much of the sex appeal and prestige of an exotic car. Underneath the hood, the performance is as good and sometimes even better than its more “prestigious” counterparts in the UK, Italy, or its neighbor in Zuffenhausen. In fact, while a Ferrari, Aston Martin or Porsche owner will talk about the driving experience as “fun”, “raw” or “holy f*ck yeah!!!”, Benz owners will whip out spreadsheets of performance statistics to quantify how their cars are just as good as the others. Styling wise, it’s even more conservative than its German counterparts, perhaps a bit stodgy, boxy and awkward at times (and some models are just downright ugly). But hey, it's built like a tank - impenetrable to any kind of criticism.<br />
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<span style="font-weight: bold;">KELLOGG (NORTHWESTERN UNIVERSITY)</span><br />
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Kellogg is like a Volkswagen - they aren't the most reliable cars, but they are sure fun cars to drive. They also have a very young, hip and aspirational image - but one that is within reach of many people. When you think of the Beetle, Golf GTI, Jetta, Cabrio, Rabbit, Vanagon/Westfalia (hippie van!!), Passat or Touraeg, you think of a hip young couple who shop at farmer’s markets on their way back from CB2 to pick up funky kitchenware to decorate their so-hip-it-hurts exposed brick loft space – in the suburbs. They are very good at promoting and managing its reputation as a “cool and hip” car to drive. Oh, and they are always smiling, showcasing their Crest Whitestrips ™ bleached teeth. But damn, they are a good looking bunch of people who manage to out party every other school and still look good doing it.<br />
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<span style="font-weight: bold;">SLOAN (MIT)</span><br />
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Sloan is like an Audi - more people have them than you'd expect, and for a German car, they are a bit younger and hipper – and more accessible. They are mentioned alongside the other great auto manufacturers, but still fly under the radar in most discussions. They are reliable workhorses that hide its performance and luxury behind a very understated and unassuming exterior – much like Sloanies and their abilities. Even their sportier versions (S-series, R8) are understated compared to its direct competitors. If its peers are a combination of style and substance, they are almost focused entirely on substance, if at the expense of style (if you have ever been to the MIT campus, you’ll know what I’m talking about).<br />
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<span style="font-weight: bold;">COLUMBIA BUSINESS SCHOOL</span><br />
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Columbia is like a BMW - an amazing machine that combines performance, quality and cachet, but it also attracts a disproportionate number of overly aggressive drivers who believe they own the road, and act accordingly (blasting horrendous techno music, cutting people off in traffic, honking their horns, etc.). Like the BMW, the “New York advantage” of Columbia has a Jersey Shore element to it. Cheesy club music, overpowering cologne, and drivers who love challenging every single luxury/sports car at a stop light. Or if you happen to drive a Honda (Stern), the BMW driver will rev up his engine and give that look of disdain. I’m sure there are some laid back and friendly BMW drivers, but they seem to be drowned out by the sheer number of a**holes – much like the loud minority at Columbia that give the school a bad name. But hey, across the board, they are still amazing machines and an astute person will know it’s not the car, but the driver behind the wheel. Just don’t get the X5, which is known to explode for absolutely no reason, much like a few loose cannon Columbia alums out there.<br />
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<span style="font-weight: bold;">TUCK (DARTMOUTH COLLEGE)</span><br />
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Tuck is like a Swedish car, from the pedestrian (Saab and Volvo) to the exotic (Koenigsegg). It's quirky, relatively small in number, but has a fiercely loyal following of aficionados. Not many people know about these cars, but those that do rave about it. Some Tuckies, like the Koenigsegg, are truly exceptional and can stand toe to toe with any other exotic in terms of performance, styling and cachet. Beyond that, if there is any reputation it has, it’s the family-oriented cars for hippies. Volvos and Saabs like Tuck seem to scream “I am a liberal outdoorsy vegan who collects bumper sticker slogans!” Strap some skis and bikes on its luggage rack, and you’re off camping! Don’t forget to bring your weed and Phish paraphernalia.<br />
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<span style="font-weight: bold;">LONDON BUSINESS SCHOOL</span><br />
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LBS is like Jaguar and Land Rover. A luxury British car that is high performance, but with some reliability issues that vary from one car to the next. Styling is decidedly refined and sophisticated, much like how LBS grads see themselves. They have that muscular feel of American cars with more European styling and refinement, much like how LBS has that American-style 2-year MBA structure but with a decidedly European student body. Also, when you think of Jaguar and Land Rover owners, you think of upper middle class blokes of all ages (including the geriatric) who love to drink, and drink lots of anything alcoholic – much like LBS which might as well own a chain of pubs for its students.<br />
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<span style="font-weight: bold;">INSEAD</span><br />
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INSEAD is like Peugeot-Citroen. Not because they are both French, but because they are both very well known everywhere in the world but the US. Similar to how Peugeot-Citroen is one of the world’s largest car makers, INSEAD is one of the largest business schools – but if you lived in the US you’d never know it. While they have a reputation amongst the public as “the everyday car for Europeans,” to those in the know they have the reputation for building supercars that have dominated the Le Mans (which again means nothing to the NASCAR/Indy centric US). Similarly, INSEAD grads are found in all sectors of industry from middle management upwards, but that has a reputation as Europe’s preeminent business school, and one of the most respected names within those who know business schools.<br />
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<span style="font-weight: bold;">ROSS (UNIVERSITY OF MICHIGAN)</span><br />
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Ross is like General Motors. A bit of everything for everyone, but not really anything in particular that makes them really stand out, other than the fact that it has the feel of a quintessential college town. When you think GM, you think America. When you think Michigan, you think Americana. And like GM cars, quality will vary, but for the most part the cars are down the middle when it comes to styling, performance, and reliability. It’s a solid, good choice for a buyer with a modest budget and who isn’t interested in flash or being super urban and hip – much like how Ross is a solid middle-of-the-road top school for those who want some of the prestige of the other top 8 schools, but who aren’t too fussy and caught up in keeping up with the Joneses. It’s a utilitarian choice that gets you from point A to point B – a degree that helps you get a decent job so you can enjoy your family life. And if you want a bit of flash, you get their Cadillac.<br />
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<span style="font-weight: bold;">FUQUA (DUKE UNIVERSITY)</span><br />
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Fuqua is like Chrysler, because it’s hard to tell the difference between GM and Chrysler cars, just like it’s hard to separate out Ross and Fuqua, and they seem to be interchangeable amongst applicants anyhow. Sebring or a Buick? Which one is Chrysler and which one is GM? I thought the PT Cruiser was GM? I’m confused. Just like Ross, Fuqua is a solid middle-of-the-road choice when you see the MBA for what it is (get a better job) while you get on with your life. It’s for people who don’t have hang ups about what school they go to, but want a good school – and unlike NYU and Haas (see below), for people who want a more quintessential American college town experience. Basketball. Football. Cheerleaders. Suburban Americana.<br />
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<span style="font-weight: bold;">DARDEN (UNIVERSITY OF VIRGINIA)</span><br />
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Darden is like Ford because it prides itself on being “built tough”. From the Mustang to the F-150 to the Crown Victorias, their bread and butter are cars that can withstand all kinds of grit, grime and abuse – much like how Darden students pride themselves on their ability to survive their infamous workload. Just like the Big-3 US automakers, applicants tend to apply to Michigan, Darden and Duke (below) collectively because they are similar to one another. The difference is, Darden is the macho brother of the three. Not known for their refinement, but the cars most likely to withstand nuclear war. Don’t mess with Darden, because they will grind you up, spit you out, and crush you with their boots of steel. Boo-yah!<br />
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<span style="font-weight: bold;">STERN (NYU)</span><br />
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Stern is like Honda – similar to Duke/Darden/Michigan, it’s a solid choice for people who want a good program that gets them from point A to point B in relative comfort, but whose style is a bit more fun and peppy than its Detroit counterparts. From the Civic to the Accord to the Pilot, it’s about practicality first and foremost. However, there are obnoxious owners of all marques, and Honda is no different – there is the minority of folks who constantly proclaim in that smug way that they could’ve gotten a BMW or Benz, but chose a Honda because of blah blah blah, just like a few Sternies here and there will claim they could’ve gotten into Columbia or Booth, but chose Stern instead. I don’t doubt that it’s true, but methinks the lady doth protest too much. Going to Stern is just like buying a Honda – no one is ever going to fault you for it, and for many who go there, they are happy with it being an enjoyable means to an end.<br />
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<span style="font-weight: bold;">HAAS (UC – BERKELEY)</span><br />
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Haas is like Toyota, much like Stern is like Honda. It’s for the practical minded who simply want to get a good degree so they can get a better job. Nothing more or less than that. And Haas fits that bill, much like a Corolla, Prius or a Tacoma. While some may be curious about why you would buy an American car, no one will question why you bought a Japanese car – just like many internationals may have more explaining to do when it comes to “why did you go to Ross/Fuqua/Darden?” but fewer if any outside the US will question why you chose Haas. Or Stern. In other words, Haas and Stern are like Toyota and Honda because they are all very well known worldwide, whereas American cars have more limited traction, especially outside of North America.<br />
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And don’t even start on the supposed luxury brands such as Lexus or Acura – as good as they may be, they’re just “nicer Toyotas” and “nicer Hondas” – and there’s nothing wrong with that.<br />
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<span style="font-weight: bold;">JOHNSON (CORNELL UNIVERSITY)</span><br />
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Johnson is like Subaru – a high quality and practical car, for those who know about it. The marque is typically not on the top of people’s minds at first, although if you were to ask them to track how many Subarus they see in a day, chances are there are more out there than they ever realized. You see, Subarus don’t like to draw attention to themselves, they simply get on with their business, and they attract buyers who want a reliable import/Japanese car, but want something different for the sake of being different (and something a bit more rugged). In a way, they are quirkier than the other Japanese marques, using boxer engines instead of an inline or V. Similarly, Johnson is sort of out there in rugged upstate New York – there’s more of them working amongst you, but you wouldn’t realize it unless you actually asked people where they went to school.<br />
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<span style="font-weight: bold;">YALE SOM</span><br />
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Yale is the Mazda of business schools. What causes a person to go to Yale over NYU? It’s a toss up, really just like a Honda versus Mazda. Oftentimes, it comes down to who gives you the better deal and better financing. Similar to Honda, Mazdas are known for being fun and sporty economy cars that don’t take themselves too seriously. For example, who chooses Miatas? While I’m sure some could afford the more expensive European cars, most want a comparable quality experience that is within their reach. Again, if given the choice with no constraints, I’m sure most Miata owners would rather drive a German or Italian sports car, but few if any are complaining about driving that zippy little Miata around town. Similarly, while few would choose Yale over other top 8 schools, it’s a place where people seem pretty happy about being there – they could certainly do a lot worse.<br />
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<span style="font-weight: bold;">ANDERSON (UCLA)</span><br />
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Anderson is the Nissan of business schools. Like Nissan would be compared to other Japanese marques, Anderson tends to fall under the radar, even though it’s known worldwide and they’re everywhere. Similar to Toyota and Honda, for the most part they are solid cars that appeal to the practical minded buyer who just wants to “get on with it.” Likewise, Anderson attracts students who simply see the MBA as a means to an end, and want a high quality school that will help them get a good job – it’s the practical choice for many who want or need to stay in California for their careers. While it doesn’t get the same level of exposure as Toyota or Honda, no one is going to fault you for ever getting a Nissan. At worst, it elicits no opinion, and at best, a positive one.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com2tag:blogger.com,1999:blog-6255671504631235632.post-5185950675229310782011-02-03T11:45:00.000-08:002011-02-03T11:54:03.861-08:00What Can I Do To Improve My Chances?<div class="post-header"> </div> <div class="post-body entry-content"> One of the most common questions I get from readers is "What can I do to improve my chances in the next few months?"<br /><br />In short, there are really four things:<br /><br /><span style="font-weight: bold;">(1) Get a "good enough" GMAT score.</span> Your GMAT needs to be within range: for top 16 schools plus INSEAD and LBS, you realistically need at least a 700 or greater for it not to be a significant handicap. If it is below 680, your chances at a top 16 are going to be slim. However, trying to eke out 10-20 more points when you already have a competitive score (700+) is a waste of time. For top schools, a below average score is a liability, but a high GMAT is not an asset. Or to put it another way - the GMAT can only hurt your chances if it's way below the school's averages, and can never help you if it's way above average. Focus on "good enough" and move on. However, if your score is below average, do whatever it takes to improve it, even if it means taking it multiple times (although after 3 attempts, chances are your score probably isn't going to get better).<br /><br />Again, the magic number for the top 16 + INSEAD/LBS these days is 700 or greater. Move down a tier to the top 30, and the magic number is around 670-680 (in other words, there isn't much of a difference in GMAT scores amongst applicants to any decent schools these days).<br /><br />I think the GMAT is a silly way to evaluate career professionals, but it's a necessary evil. If you can't get a competitive score for your target schools, then you will either have to reassess your list by including lower ranked schools, or go into it rolling the dice knowing that your GMAT score will be a handicap.<br /><br /><span style="font-weight: bold;">(2) Visit 2 or 3 schools.</span> You don't have to visit every single school you're applying to. However, visiting a few of them can give you a real feel for what business school is all about in a way that no website, blog, magazine or second-hand information can do. There really is no substitute for sitting in on a class and seeing how b-school works with your own eyes and ears, talking to current students "off-the-record" about their experiences, and just spending a few hours to a full day just soaking in what it means to be a student at that particular school. This will not only help you with your essays and interviews, but will also give you a stronger reality check for where you feel you stand compared to asking strangers on the Internet for validation on "my chances". It's worth the time and money.<br /><br />In a subtle but important way, when you've visited some schools, there's a tone of authority and confidence when talking about what you want and why you want it in a specific way that just naturally comes through in your writing which others without that experience can fake.<br /><br />And this is ESPECIALLY important for those applicants who aren't surrounded by post-MBA colleagues in their workplace.<br /><br /><span style="font-weight: bold;">(3) If your undergrad GPA sucked, take a few extension classes.</span> This is more important for those who went to US colleges. Those who studied outside the US are given way more leeway, and practically a free pass on their GPA, since it's harder to benchmark and assess -- so for those who studied abroad, it really comes down to your GMAT and to some extent the prestige of your undergrad institution in your country. Anyhow, if your GPA sucked and you went to a US college, take 1-2 extension classes, either locally at an accredited college/university or online from an accredited institution (doesn't matter which one). If your GPA was below 3.1, definitely consider taking 1-2 classes. If it was below 3.3, only do it if you have time. As for what classes to take, so long as it's a freshman level or 100-level quantitative course (calculus, stats, accounting, algebra, etc.), you're fine. You won't get extra brownie points for taking advanced classes.<br /><br />One last thing. If you studied engineering, adcoms will be more forgiving because they know that engineering programs tend to grade on a much harsher curve. So long as your GPA is above 3.1, you probably don't need to take extension classes so long as your GMAT is competitive.<br /><br /><span style="font-weight: bold;">(4) Do the best you can on your written application.</span> In short, aside from getting a "good enough" GMAT and visiting a few schools (and taking extension classes if your GPA sucked), all you can do beyond that is wait for the applications to come out in June, and do your best on the essays and coaching your recommenders.<br /><br />If you're only a few months to a year away from applying, all you can do is to tell your story about what you've done to date. You don't really have time to create "new" stories that are substantive enough. Avoid window dressing because you're not fooling anyone. The reason why is that you can't fundamentally change who you are in just a few months. Real change takes years, not months. If you "start" something, you will have nothing to say about it other than you "started" something, because any significant achievement usually takes time, and doesn't happen overnight.<br /><br />If you've known anyone who has achieved extraordinary things or are "outliers" - it was often years if not decades in the making. Becoming a nationally ranked athlete is a culmination of years or a full decade of work. Getting admitted to an Ivy League undergrad isn't some casual thing, but a culmination of healthy school habits and focus since elementary school. No matter what it is (athletic, artistic, academic, career, political, etc), doing something you're truly proud of usually is a culmination of a LOT of blood, sweat and tears (literally and figuratively), which isn't something that you casually pick up on the fly. Don't be arrogant to think you can just turn on "exceptional" when you want it, on demand.<br /><br />A lot of business school websites now emphasize that they want to know who you really are, they want you to be authentic, sincere, and genuine. Its basically code word for "we have seen so much bullsh*t over the years from applicants. We are not easily fooled - we can detect bullsh*t faster than you can write it." Keep in mind the fact that while the adcoms are typically not that much older than you (mostly in their late 20s to late 30s), they are still older than you and likely have more life experience than you - they aren't absent-minded seniors who will believe everything you say. Don't bullsh*t them. </div>MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com2tag:blogger.com,1999:blog-6255671504631235632.post-67171371104324519692010-04-08T17:14:00.001-07:002010-04-08T18:54:08.471-07:00The Ultimate B-School Essay QuestionsOver the years as an admissions consultant, I've worked with all kinds of applicants and seen all kinds of essay questions from a wide array of schools. Some of the questions are certainly enlightening ("what matters most to you and why") and some are unintentionally comical and ridiculous ("if you were to choose the school mascot, what would it be and why?"). And other times, the essay questions tend to be more relevant or insightful for certain kinds of applicants vs others ("what are your career goals and why" may yield more insight from someone who isn't a banker/consultant).<br /><br />But the point of these essays (as well as the recommendation letters and interviews) really is to get a sense for who the applicant is BEYOND the resume. In other words, adcoms really hope to gain more insight into who you are as a person that may not be immediately obvious or reasonably inferred from your resume (i.e. if you're an engineer, it's reasonable to assume that math and analytical skills aren't a problem for you compared to most non-engineering b-school applicants).<br /><br />Some schools ask too many questions. Others don't ask enough. Some ask too many questions that overlap. Others simply don't ask questions as directly as they should. And yet others ask a mix of questions that may reveal more from certain kinds of applicants vs others.<br /><br />If I were to come up with the essential list of questions, it really would be these five things (sort of a condensed "best of" or rewording of some of the "best" questions from various schools):<br /><span style="font-weight: bold;"><br />(1) Introduce yourself to the admissions committee in a one-minute (or less) audio or video recording (mp3, mpg, mov, wmv).</span><br /><br />UCLA is the first to introduce an audio/video essay, and I personally think it's a great idea. Most if not all b-school applicants will have video cams or audio recording capabilities in their laptops or desktops, so there shouldn't be any technical constraints.<br /><br />In my view, having a one-minute "elevator pitch" is a great way to get a sense for who the applicant is that perhaps 1,000 written words can't fully capture. An adcom may not be able to get an in-depth understanding of the person in one minute or less, but they can certainly get a sense of the person's essence, personality, and most importantly - their speaking skills.<br /><br />Given that managers spend most of their day in meetings talking to colleagues, vendors, customers, investors, Board members, and so forth - speaking skills are essential in business. In addition, business professionals (in any industry or job function) are constantly introducing themselves (or their companies) to new people. Being able to succinctly introduce yourself in a clear, specific and succinct way is an invaluable skill - that's how people remember you.<br /><br />Moreover, this one-minute elevator pitch gives the applicant the chance to distill and synthesize who they are (sort of an "executive summary" of their entire application or what some may call a "positioning statement") in a dynamic and personable way.<br /><br />Also, it could even help the adcom cut down on the number of interview invites as well.<br /><br /><br /><span style="font-weight: bold;">(2) What is your biggest accomplishment to date and why? (400 words)</span><br /><br />I personally think asking for three accomplishments is unnecessary. Asking for just one accomplishment allows the adcom to understand what your biggest talent is -- and what aspect of your life you've worked the hardest at, because no substantive achievement happens overnight. It's usually the culmination and the apex of many years (if not decades) of sustained commitment and dedication. In other words, is there at least *one* thing in the applicant's life that they have really dedicated time, effort and passion towards - with the accomplishment being the byproduct of all that.<br /><br />Also, one "showcase" accomplishment is less prone to "positioning" -- with three accomplishments, it becomes very cliche to "mix it up for the sake of mixing it up" by including one work example, one extracurricular achievement, and one personal milestone - when for a lot of applicants they may be exceptional in one area (i.e. a decorated military officer). Whether they have a variety of accomplishments or not is really besides the point. For example, is it more impressive that Michael Phelps could write three accomplishments about all the swimming medals he's won, or the random person who "positioned" his essays by writing a variety of notable but non-unique achievements? What is more "impressive" or compelling is finding out through their ONE biggest accomplishment how high they've reached - to what degree are they an outlier or not.<br /><br /><span style="font-weight: bold;">(3) Describe a time when your choices, decisions, actions or behavior cause the entire group to fail. What did you learn about yourself? (400 words)</span><br /><br />A lot of b-schools ask variations of this theme - describe a time you failed, screwed up, made a mistake, etc.<br /><br />It's a great question. The reason is it reveals a person's true character. Some will come across as defensive. Some will avoid the subject by turning the essay into something else entirely. And others will come up with a bona fide screw up, own up to it, and describe how they responded to it or recovered from such a disappointment.<br /><br />And forcing the applicant to talk about how their mistake caused a group to fail ensures that the example has stakes (if the applicant answered the question at face value) - by describing a time where their failures had real consequences for others.<br /><br />Character is about how one responds to a crushing or humiliating disappointment. And this essay can help to reveal that (or reveal that the person isn't mature enough or unable to admit his/her own flaws).<br /><br /><br /><span style="font-weight: bold;">(4) Based on your own experiences, what do you think are the differences between being an effective team member vs an effective leader? Reference examples from your professional or extracurricular history. (600 words)</span><br /><br />This is really a distillation of the various questions that many b-schools ask.<br /><br />In short, every single business school is a collaborative environment. Students go there to network and make friends. A lot of the projects are done in groups. Many students study for exams together (or help one another out during informal tutorial sessions). What makes the business school environment overwhelming or difficult isn't the actual work itself, but the sheer volume. There are simply way more readings, problem sets, spreadsheets, etc than one can possibly do alone. And that is just the academics. On top of that, there are way more extracurricular activities, speaker events, recruiting presentations, and so forth than one has time for. Students at virtually every b-school learn very quickly that one can't get through business school alone. Which in many ways mirrors life, career, and any business. Everything is done in teams.<br /><br />And an essay like this asking for an applicant's experience with team work and leadership (whether formal or informal) can help reveal whether the applicant is ready for a highly collaborative environment like b-school.<br /><br />In my view, it's certainly more effective than asking "how can you contribute to b-school?" because it's easy for that kind of question to become a cliched narrative and laundry list the applicant cherry picked from various websites and forums.<br /><br />Asking for the applicant's prior history and experience with team work and leadership is certainly a stronger indicator of whether they will be an active contributor - because if they are used to working in highly collaborative teams AND they are highly accomplished and willing to admit their flaws -- they will get involved without the adcom having to read through a random list of things. The applicant will figure it out once they're in school - so long as based on their past they have the capacity to do so.<br /><br /><br /><span style="font-weight: bold;">(5) Is there anything else you'd like to tell us that will yield more insight into who you are as a career professional? (i.e. goals, personal history/backstory, etc.)</span> <span style="font-weight: bold;">(400 words)</span><br /><br />A lot of b-schools are giving applicants a choice (i.e. choose 3 of 4; choose 2 of 5, etc.) because applicants come from so many different backgrounds - certain questions or themes reveal more about that person compared to other questions.<br /><br />An open-ended question like this just distills it further, without having to list a bunch of questions to choose from. Give the applicant the blank canvas to "fill in the blanks" so to speak - they aren't children, but working professional adults after all who should have some opportunity to choose what they want to talk about, rather than being so constrained by questions that don't always yield what the adcoms may really want.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com1tag:blogger.com,1999:blog-6255671504631235632.post-22281806424042744152010-04-04T19:19:00.000-07:002010-04-04T20:46:00.243-07:00The Blind Spot: How Cultural Differences Impact AdmissionsI don't often write about admissions geared towards specific cultural groups, since the admissions criteria for business schools transcend any nationality or occupation -- an applicant needs to have a combination of strong leadership potential (career progression and extracurriculars that over time suggest greater responsibility for teams of people), exceptional communication/interpersonal skills, and analytical aptitude (with GMAT, GPA, and other quantitative-oriented responsibilities in the workplace).<br /><br />However, after seeing the same sorts of questions and recurring themes particularly from Indian and other Asian applicants, this subjective process to admissions seems to be a particular blind spot, due to cultural differences (note here that I mean those whose were raised in and attended high school in Asia). This may be a sensitive topic, but it needs to be said rather than whispered behind closed doors, after seeing so many applicants and MBA students over the years from many backgrounds.<br /><br />Why would knowing this blind spot be useful? If you are an Indian or Asian applicant, even being aware of such a blind spot may at least help you avoid some huge pitfalls in the application process, the business school classroom, recruiting and your post-MBA career. (But then again, the irony is if you're reading this article and you "get it", then I'm preaching to the converted, to those who are already aware of it and may not have such a blind spot; and those that really need to be made aware of it are the ones who may not understand what I'm saying here).<br /><br />Frankly speaking, while there are still a lot of Indians and Asians in business school, as a whole it seems that they are having a harder time getting in -- in spite of the fact that they have reasonable to even high GMAT scores, solid work experience and so forth.<br /><br />For many Indians and Asians, they've spent their entire lives being bench marked almost exclusively on their academic and analytical abilities. In plain English, its one big math competition with exams and certificates being the arena of competition from a very early age. And with an almost exclusive focus on math and sciences (especially for the boys) where there is often a "right" or "wrong" answer, there is little opportunity to develop that ability to voice interpretive (or subjective) viewpoints that are often the focus of humanities and liberal arts subjects - subjects which are simply taught to a greater degree in the West.<br /><br />So it would seemingly make sense for Indians and Asians to come into the b-school admissions process expecting to be judged in the same way. If I were in your shoes, I'd probably think the same way too because that is all I would know or all that I have been judged and evaluated on to date - by schools, employers (for technical jobs), peers, etc and maybe even by friends and family. <br /><br />For many Indian and Asian applicants, business school admissions is a completely different (and perhaps entirely new) world. It will likely be a bigger re-orientation in terms of mentality, perspective and approach for many Indian and Asian applicants compared to those who have grown up in Western countries.<br /><br />B-school admissions isn't a math competition. The technical stuff - your GMAT scores, your GPA, etc. matter only up to a certain point -- and once you've reached that threshhold (which is actually not very high), no exceptional GMAT, GPA or academic/technical/analytical achievement will compensate for mediocre or even poor interpersonal and critical thinking (i.e. imagination, lateral thinking, etc.) skills.<br /><br />Being able to communicate and articulate a *subjective* point of view in a compelling, engaging and persuasive manner is what it's about -- not just for the business school application, but also in a case method class (and all schools use it to some degree, and even lecture-based classes have that collaborative, discussion-oriented ethos ingrained in the learning experience). Moreover, it's likely THE most important skill to have for one's business career - it's how you convince the Board to approve a merger. It's how you get a key customer to commit to your new beta product. <br /><br />On the surface, "being able to convince someone of my opinions where there is no clear right or wrong - just opinions" may then appear to be a personality contest, a test of one's creativity or imagination -- when to others who grew up in the West who are more accustomed to this in their lives would see this simply as "having my own opinion" without the validation of right or wrong. Being conditioned to cram for exams from an early age can certainly create a blind spot to this sort of frame of mind.<br /><br />Now, one may say "well why does all this personality, interpersonal stuff matter?!?!" -- because b-schools are looking for future managers. Future bosses. And a great boss to work for isn't necessarily the smartest (academically speaking) person in the room. But they have 'street smarts' - the ability to influence people's behavior. Managing people isn't a math competition - it's about your people skills. Your ability to settle people down when they are in a pissy mood. Getting them riled up and motivated to do something where the chances of success aren't high, but are still worth a shot. In essence, influencing other people's behavior. The curricula you learn in b-school is really there to support you in that -- when you learn all the technical things in accounting, finance, operations, etc. it's not for the purposes of you actually having to do that analysis in the real world, but to help you *understand* and *interpret* this sort of analytical work that your subordinates do so that you as a manager can make more judicious and informed decisions where there often is no "right" or "wrong" answer.<br /><br />So it's this entire aspect of yourself that you have to be able to portray effectively and compellingly to an adcom, professor/classmate, recruiter, and hopefully as you up in your career - a Board member, politician, or other leader. That is what will make or break you - and not all the computational and analytical skills you may have focused on all your life.<br /><br />In a sea of other exam- and academically-obsessed Asian applicants who simply don't "get it", the best chance you as an Indian or Asian applicant have (regardless of your "test scores" in college, high school, on your GMAT/GREs, etc) is this:<br /><br />Dare to be different. Dare to stand out. Chances are, you're simply not going to win the "my grades/GMAT is better than yours" competition against a lot of other applicants (and again in an admissions process that doesn't care as much about academics beyond a certain basic threshhold). Be able to convey that you're better with people than numbers - because ultimately in business your ability to lead, manage and supervise people is what will make or break your career -- not your ability to do math.<br /><br />Here's another way to put it in economic terms.<br /><br />With a continent that is highly focused on analytical skills, Asia is creating a labor force that is effectively making such analytical skills a commodity. There is simply a much greater supply of this than there are those with strong leadership, interpersonal, and critical thinking skills ("right brain" activities) in *any* country. <br /><br />For many of you, I assume you're applying to business school so that you can get to a point in your career *soon* where other people are doing the math for you (and unfortunately get paid next to nothing for it because their math skills are a commodity), so you can focus on being the "decider". Math skills gets you to middle management, but people skills gets you into the executive suite.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com2tag:blogger.com,1999:blog-6255671504631235632.post-31867850792557828212009-11-02T09:43:00.001-08:002009-11-02T09:43:58.793-08:00HOW TO BEST PREPARE FOR AN INTERVIEWNow that some of you folks are getting your interview invites, one of the common things I get asked is how to best prepare for an interview.<br /><br />It's quite simple, if a bit unconventional.<br /><br />Practice talking about your candidacy OUT LOUD. Either talking about it to someone (friend, family member, spouse, dog, cat, hamster, etc.) or to yourself (yes, it will sound strange and weird at first).<br /><br />Interviews aren't intellectual exercises. They aren't carefully rehearsed speeches. A great interview is one where BOTH the interviewer and interviewee are fully engaged in conversation (but obviously with the interviewee doing most of the talking). Conversation = talking.<br /><br />You don't get "good" at interviews by reading books, writing notes, or doing anything where it's all in your head. You have to get used to hearing these very themes coming out of your own voice - your career goals, why "b-school X" is the right place for you, what you've accomplished, your strengths and weaknesses, and so forth.<br /><br />If you're not used to actually talking about this out loud - it's going to come across as awkward no matter how much you've "read" your notes or "written down" stuff or memorized complete threads of "monologues" in silence. The interview room is NOT the best place to be vocalizing this stuff for the first time.<br /><br />It's got to be in your body, not just in your head -- so that it comes across as natural and engaging. If it's all in your head and not fully in your body (i.e. so that your body language responds to what you're actually saying), you WILL come across as disconnected, disengaged, distant, and dull.<br /><br />Talking is a physical activity. Nervousness is a physical condition. The more comfortable you are talking OUT LOUD about these things we normally don't talk about everyday in our lives (why MBA, goals, accomplishments, failures, etc.) the less nervous you will get no matter how big the stakes are because YOU are the expert on yourself, and you are used to talking about it.<br /><br />It's not about coming up with carefully scripted answers to specific questions - because an astute interviewer will pick up on the fact that it's carefully scripted. Insincerity or lack of authenticity is what KILLS you in an interview more than a stumble of a word here or there. No one, including the adcom or interviewer, likes to feel that they're being played or that you are putting on an artificial front - no matter how substantive you think you are, if you come across as insincere or "scripted", it is death.<br /><br />So how do you "prepare" for something where you're supposed to come across as spontaneous and authentic as if you were answering their question for the first time? You do so by practice, practice, practice -- until you're so used to talking about it out loud that you can improvise around it.<br /><br />Anyone who has done sales will know what I mean. An interview is basically a sales pitch - with the product being YOU. A great sales pitch isn't one that sounds carefully scripted, but one where the sales person knows the underlying sales points and product so well that he/she can respond in the moment without thinking and improvise -- the more one physically talks it out, the smoother and more comfortable one becomes with the material.<br /><br />Interviewing is a physical activity - treat your preparation as such (and this goes with MBA recruiting as well -- i.e. you get better at case interviews by physically talking it out - being good at case interviews isn't purely about your "thinking process" but about being good at "verbalizing" your thinking process).MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-38548753684517105232009-06-07T13:48:00.000-07:002009-06-07T14:13:10.736-07:00Do The Right Thing: Taking an OathA recent story about Harvard Business School students taking an oath of business ethics seems to have caught wind with a few media outlets. The Huffington Post picked it up, NPR interviewed two HBS students about it, and even Michael Lewis ("Liar's Poker") referenced it on CNN's Fareed Zakaria.<br /><br />In my opinion, I'm all for it. Why not? What is the harm in pledging to act in good faith? At worst, it won't do much good, but at best it can have a marginal effect.<br /><br />Again, an oath alone won't solve all of our problems, because the underlying problems are complex and multifaceted. However, from a human standpoint I think it's a great thing that some business school students are trying to do the right thing.<br /><br />Or to put it another way, the cyncism and jaded mentality of human behavior ("assume the worst, always") is what I call the Dick Cheney School of Psychology. That kind of negative, fatalist view of the world may not be the primary cause of bad behavior, but it certainly can be an important lubricant used to justify bad behavior.<br /><br />It's the common refrain and tone you'll hear from those who were part of the problem:<br /><br />"it's human nature to be greedy and bad"<br />"people will always cheat and steal if there's incentive"<br />"between my own ass and someone else's, I'd save my own ass at all costs"<br /><br />All of which is true. But the cynic's world view (i.e. many MBAs and business types of the past) is to see that before anything else. To be far more willing to see the bad in people, and less willing to see the good. And that, in itself, is a naive view. Because everyone has the capacity for both, given the appropriate circumstance and frame of mind.<br /><br />It's sort of that view that "if the whole world is a race to the bottom, why fight it, join that race!" which precisely leads otherwise upstanding people to justify why they're doing bad things.<br /><br />That's why if an oath at least helps to be even a small counterpoint to the cynicism that could creep in over time, then I'm all for it.<br /><br />Because I am willing to bet that those who have misbehaved or will misbehave do so because they don't want to see the good in themselves or in others -- regardless of whether such misbehaviors are "illegal," or legal but ethically questionable. They are more willing to discredit the good, and amplify the bad in others as way to justify why their misbehavior is "par for the course". Because if they did see more good than bad in themselves, the misbehavior would be incongruous to who they are -- and they would simply own up to their wrongdoing when caught, and apologize without making any excuses for it. And even if they weren't caught for their misdeeds, they would at least feel guilty or remorse for what they did IF they didn't have such a cynical view of themselves and of others.<br /><br />Again, an oath is a good appetizer, but not the "main course." The main course is still a change in regulation and corporate governance. But that doesn't make the appetizer worthless.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-55319307520426340182009-04-18T14:00:00.000-07:002009-04-18T15:37:13.033-07:00Business As A Service Profession: A RantI normally don't do this, but I felt I should share some of my thoughts about what I've seen as a big problem with the whole MBA culture.<br /><br />As expected, I usually get people emailing me their profile, or posting it on the various discussion forums where I post. It's usually the same fundamental question: "What are my chances at school X, Y, or Z?" or "How can I improve my profile to get into school X, Y, Z?"<br /><br />No issues with that whatsoever. In fact, I welcome it. I do get a bit of a kick when in my own way I find that my work has helped others for the better (not just with b-school admissions, but to see their life's work or who they are or who they *could* be in a way they may not have thought of before). And it can be incredibly humbling too because quite a number of the people I've worked with are so incredibly talented and accomplished at such a young age.<br /><br />However, I did get one inquiry that frankly shocked me, but pointed to a larger problem that seems to be pervasive in the kinds of people who are attracted to business school and to business careers.<br /><br />This person basically asked me whether joining the US military will help him get into business school. This person laid out the reasons for enlisting in the same self-interested manner that any other "MBA-type" person would for any business career. It was mostly about him and his self-development.<br /><br />I would hope that you understand why this is a problem when it comes to deciding whether to serve in the military.<br /><br />Anyhow, I wanted to use the "to join the military or not" as an extreme example of what I mean about SERVICE.<br /><br />The concept of service isn't some feel-good, morale boosting concept. It's a very practical thing. So much of what the military does whether on the front line or in a support role is dependent on TEAM. No one fights alone. No one does anything alone. Everything is co-dependent. You put your life in the hands of others, as they put their lives in your hands. That level of trust and integrity between officers and their enlisted men is essential for survival. Yes, it's principled, but it's also practical and ensures the greatest chance of success and survival.<br /><br />That very concept of service -- to serve others -- not just to "serve your country" in the abstract, but to serve the men and women that are working under you and above you is ingrained in the military.<br /><br />Of course, as human beings there is always some element of self-interest and self-preservation, but for the military apparatus to be effective, the people involved in it have to be driven by far more than saving their own ass and wondering "what's in it for me?"<br /><br />And that is precisely the problem with the MBA culture and the mentality.<br /><br />There is absolutely no sense of service or selflessness -- because, for some reason, in the business world it's supposed to be "every man for himself". Some Darwinian race to the bottom of what people are willing to do to one another. It's all about ME. And not about US.<br /><br />You don't have to all of a sudden quit your high flying job, or forgo going to Harvard Business School and join the Marines. Nor do you need to work in nonprofit full-time. Nor do you even really need to volunteer at a nonprofit.<br /><br />It's not about "jobs" or what you can put on your resume.<br /><br />It starts with the mentality that IT'S NOT ALL ABOUT YOU.<br /><br />You don't have to change anything about your current situation. But a change in how you see your situation and how you approach your current situation is where the real difference lies.<br /><br />Of course there will be self-interest. You want to make more money. We all do. You want a more prestigious job. Those are nice things to have. And you don't have to give up any of those desires at all. BUT, it's got to be far more than that.<br /><br />You can be self-interested while still approaching your current job, volunteer activity, career aspiration, school, etc. with the mentality of:<br /><br />What can I do to contribute?<br />What can I do to help [him/her] on my team do a better job?<br />What can I do to be more giving of my time, more compassionate, more empathetic?<br />What can I do to truly listen to what others have to say (and not just *hear*) and to understand, even if I don't necessarily agree with them?<br />What can I do to be the one *holding* the spotlight to shine on others, rather than waiting for the spotlight to shine on me?<br /><br />Now, I'm sure I'll get some cynical business type (and the business types other than lawyers relish in being cynical) assuming that what I am suggesting here is somehow naive or unrealistic.<br /><br />To which I challenge you -- the more self-absorbed and self-interested you are, the thicker the walls you will build around you over time. The more you care only about yourself, the less people will care about you. If you want to know why there's such a backlash against MBA types and the business community, it's precisely that. The perception is that MBAs only care about themselves, they are greedy, they are obsessed with money and prestige, and they care far more about themselves than they do about their contributions. And while such broad brush strokes may be unfair, it is rooted in some truth. Yes, med students want money. Yes, law students want money. Yes, even film students want money. We all want the same things no matter what profession we're in. We want nice houses, nice cars, a comfortable life, a powerful and respected position in our community, awards and accolades that boosts our ego, etc. The problem with the MBA culture is that it often doesn't go beyond that -- and the excuse is always "I don't have time" or "I need to pay off my loans" or "my family comes first" -- problems that for some reason some MBAs feel are unique to them and them only. We all have problems.<br /><br />Many other professions have some sort of "higher cause" ingrained in the ethos of that profession - an ethos that even the most cynical and jaded doctor, lawyer, filmmaker, journalist, etc. at least acknowledges (and perhaps even a little grain of it remaining somewhere). In business school, that lack of ethos that points to some sort of SERVICE is a major problem and source for why we end up with such a nihilistic and amoral business culture. <br /><br />None of the other professions are perfect by any stretch, but at least medicine has "to heal others". For law, it's "to serve the law, to bring justice to others". For film/writing/dancing/music, it's "to make art". For journalists, it's "to uncover and communicate the truth". For teachers, it's "to enrich the minds of others with wisdom and knowledge". Even for sports, no matter the hijinks or egos of some athletes, few if any athlete feels they are bigger than the sport they play.<br /><br />What is the ethos of business? To simply enrich our own pockets? (the "shareholder value" argument is a masquerade for self-interest). To say that it's self-interest or to maximize profit isn't an ethos rooted in anything human or aspirational. It's simply nihilistic.<br /><br />Maximizing profit or shareholder value is HOW we stay in business. But it's not WHY we do business. And so many of us in the business world have failed to separate that.<br /><br />Who knows, maybe with this economic crisis, a new idealism and ethos may become codified within the business community to replace "shareholder value as the sufficient end in itself". Business schools have a part to play in that, as do MBA students and applicants alike. It starts with all of us.<br /><br />Service. Business as "service". Business leadership as "service" - to serve others, to serve constituents. I'll let you ponder and decide what that means to you specifically.<br /><br />Soldiers lay their life on the line for their fellow soldiers. A ship captain lays his life on the line for his shipmates. A pilot who safely crash lands in the Hudson uses his brief celebrity to fight for the rights of his fellow pilots and to lobby for greater safety measures. Firefighters lay their lives on the line to save people everyday. <br /><br />These people are heroes, but many of them will say that they are simply doing their job. Why? Is it purely out of modesty? Or is it because there is an ethos of service embedded in their profession that is hammered into them from the day they sign up, which encourages them to act in such a selfless manner?<br /><br />And to the cynical who feel resigned to the fact that the business world, the MBA, etc. "is what it is" and can't change or that any goodwill you do will be a lost cause, I challenge you as follows:<br /><br />If you are so cynical to have no faith in others, why bother living at all? If you have no hope, then each day you get up your body and mind may be alive, but your soul sure isn't.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com8tag:blogger.com,1999:blog-6255671504631235632.post-67868953686273338432009-02-08T22:41:00.001-08:002009-02-08T22:43:46.004-08:00Why Diversity MattersI originally wrote the following on the Businessweek forums in response to some understandably emotional private equity guys who just received their dings.<br /><br />********<br /><br />I'll try and explain from the b-school's point of view how this admissions process works on a macro level - which may give some of you some insight into how it impacts you as an individual applicant.<br /><br />B-schools are looking to build a dynamic and diverse incoming class. They're not doing this necessarily for politically correct or social engineering reasons, but for one very practical reason:<br /><br />The greater the diversity of the class, the greater the diversity of career choices amongst the students, which means the greater the likelihood of attracting a wider range of recruiters, which then mitigates the risk of becoming a one-trick pony school, especially during tough job markets.<br /><br />Think about it.<br /><br />No matter how disparate the "career goals" are in the essays of individual applicants, in the aggregate you can make some reasonable assumptions. For example, as a group the private equity dudes will more likely than not stay in finance - it's just horse trading from one fund or bank to the next. Those who actually end up in something completely different like nonprofit or marketing are a minority, no matter what they say on their essays.<br /><br />So if you fill up the class with a bunch of private equity dudes and finance types, you're going to have a class that is even more skewed towards finance jobs than before. And this doesn't even count all the IT dudes who want to get into finance.<br /><br />And this can be harmful for a school's ability to attract a wide array of recruiters over the medium- to long-term because it will be known as a one-dimensional school. Moreover, it will have a harder time attracting a wide array of applicants from different backgrounds to apply because of its reputation of skewing towards one kind of applicant.<br /><br />Of course in reality there's going to be skew -- both in terms of the applicant pool and recruiters -- but b-schools do want to minimize the skew as much as they can.<br /><br />You may care about PE recruiting, the *current* crop of students may get "j*zz in their pants" (sorry, had to make the SNL reference) at the sight of a PE fund, but the school really doesn't care. They've seen trends come and go. And PE being a "hot" sector for MBAs is simply a trend.<br /><br />That's why they want to extend as many branches to the widest possible array of industries and recruiters, because it allows them to hedge their bets on which is going to be the next "hot" thing without having to predict which is the next "hot" thing. Having your recruiting and alumni reach across the broadest spectrum of industries and job functions is how they build up an enduring reputation.<br /><br />I'll tell you a brief anecdote. When I was in school during the dot-com mania, certain recruiters like Proctor & Gamble and Johnson & Johnson stopped recruiting at Wharton and only accepted resume dropoffs. Why? They couldn't hire anybody, and their recruiting sessions were poorly attended (in the end, they still hired a couple of Wharton grads from my year, but no dog and pony show). The school was extremely concerned about this because it's not good for the long-term. Everything goes in waves and the school didn't want to be stuck having crappy marketing recruiting in more "normalized" time periods where marketing will attract a dedicated segment of the class (not to mention turning off potential applicants who hear about the lack of marketing recruiting). In the end, they kissed and made up, and things as far as I know are going well. Stanford went through the same issue with investment banking, Fortune 500, leadership rotational programs, etc. for a while because the "yield" for these recruiters was so low that it wasn't worth trekking out to Stanford. Of course, the arrogant dweebs would say "well who wants to work at those crappy jobs anyhow, they're all starting new companies" -- which isn't really true. An administration with foresight can't let the arrogance or selectiveness of the current student body that is based on some "trend" dictate the skew and reputation of the school with future students and recruiters. Stanford's admin was genuinely concerned about this and have tried to reach out with varying degrees of success.<br /><br />It's why schools like HBS have been so successful in the past because of their ability to send their grads to virtually every nook and cranny in any industry. I don't have proof of this, but at least from my personal experience they have the most diverse alumni base in terms of job function, geography, and industry. Their alums were the first to get into VC in the 1960s (not Stanford). Their alums were the early entrants into PE (before it was huge). Their alums were the first to get into medial/entertainment. Their alums were also one of the early entrants into nonprofit and social enterprise. Entrepreneurship as a career path for MBAs was something that HBS and Stanford grads were into well before it become a buzzword amongst all b-schools. They have a longstanding tradition of sending grads into all kinds of established industries. It's about reach, and it's something that other schools have tried to emulate (copy). Even schools like Stanford try really hard, which makes it even harder to get in because they do have to work extra hard to ensure a diverse class -- their alums skew so heavily towards working in tech/VC *and* Northern California that the admissions results can sometimes be downright bizzare - because they are hoping that you all don't stay in Palo Alto - it's Stanford's biggest achilles' heel is the lack of geographic diversity. Wharton also has issues - it's alumni base (particularly those who graduated pre-1992) are overwhelmingly finance. Even though it's less of a finance school now compared to say Chicago or Columbia or NYU, they are also actively building a more diverse alumni base. Because it's that diversity that gives it the real edge when it comes to overall reputation - because you never know where the next big thing will happen. If HBS has one guy in Bhutan, Wharton wants to be there too. Even Chicago is catching onto that (as each year progresses, you will see that the "finance nerd" stereotype to be more a thing of the past as Chicago tries really hard to broaden its applicant pool).<br /><br />That's why they don't want to fill the class with only PE dudes, IT engineers, bankers, and management consultants - even though at most schools they will still make up a healthy chunk of the class. Again, the greater the diversity, the greater the chance of minimizing the skew of post-MBA career paths.<br /><br />So what does this mean for PE applicants?<br /><br />If you come across as a traditional PE dude in terms of profile *and* orientation (everything about you screams "I'm a finance guy through and through" no matter what you say in your applications), it can become more random simply because there's other people who have such similar profiles as you will. And they are NOT going to take all of you in, especially since there's a lot more applicants with PE background now than there was 5-10 years ago (simply because the industry has grown -- more headcount overall means more potential applicants).<br /><br />Anyhow, you can take this as you will - you may not agree with their philosophy, but then again you're the applicant looking out for your own individual career, wheras the school administrations are looking after the reputation and reach of their respective schools - for the current crop as well as future generations. Just keep in mind that universities don't operate in calendar quarters or even fiscal years - but as educational institutions they can afford to operate with their longer-term interests in mind.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com3tag:blogger.com,1999:blog-6255671504631235632.post-50112801395257136902008-12-23T01:47:00.000-08:002008-12-23T02:30:24.566-08:00What is good writing?Over the past few years, I've gotten some questions about what makes a good essay. <br /><br />Good writing first and foremost is not about style or polish. I think that's the biggest disconnect for many people whose office environments are overwhelmingly focused on polish and style that it messes with their notion of what is deemed "good writing." When asked to write outside a corporate context, it can be completely disorienting -- right becomes left, up becomes down.<br /><br />What makes good writing?<br /><br />The most important quality is CLARITY. Unless you're writing a diary for your eyes only, you write to be understood. Your main thesis, opinion, and intentions have to be absolutely crystal clear to a reader. Oftentimes, it's scraping away all the double-speak, buzzwords and cliche phrases learned over the years in an office. When in doubt, use the simpler word because it's likely closer to the heart (which is what an essay with a subjective voice is all about - you are writing in the first person after all).<br /><br />Another important quality is SPECIFICITY. Without being specific about what you're talking about, you can't be precise in your insight. And if you're not precise, what you say has no substance, leaving no impact on a reader. Oftentimes, stripping all the shit away from one's writing into plain English can really reveal what you *really* know because you can't hide behind language.<br /><br />ECONOMY is also paramount. Even award winning novelists (or their editors at least) strive for this. You cut out as much fat as possible - both the words and the content. The more succinct, the greater the impact.<br /><br />And the last one for writing from a subjective viewpoint (first person narrative) is SINCERITY. Tonally, it's got to sound like a real person, not a robotic PR release. Aim for a lack of formality without being casual.<br /><br />Your essays may not sound like the stylized writing you are used to at work, but believe me it will be miles better than the overwhelming majority of shit you'll see in powerpoint presentations, website copy and business correspondence. Corporate speak makes it harder to separate the clueless, incompetent, and spineless from the knowledgeable, talented and ethical - that's why it can be an invaluable "cover your ass" dialect in a bureaucracy.<br /><br />One last thing. All of this doesn't mean that style is irrelevant. Highly stylized writing can certainly be fun to read especially in the hands of a talented writer with keen insight, but only if such writing is clear, specific, concise and sincere. In the context of b-school essays however, it's unnecessary and distracting. That's the underlying problem with language used in many office environments - it's a highly stylized form without the clarity, specificity, economy or sincerity one will see in truly good writing.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-44583286441706777262008-11-16T21:10:00.000-08:002008-11-16T21:25:55.133-08:00How much does brand matter?For many applicants, getting that prestigious name on their resume is one of the many reasons why they want an MBA from a top school.<br /><br />But does the brand of your MBA really matter?<br /><br />Like many aspects of b-school, admissions, recruiting, etc. -- it all depends.<br /><br />In essence, the pedigree of your education matters more the less experienced (read: younger) you are. It matters if you're looking to work in specific industries like management consulting and banking - where these firms do most of their recruiting at select schools.<br /><br />If you're in your early to mid-20s and you're not particularly sure about what you want to do post-MBA, then going to the school with the best overall reputation is likely your best bet.<br /><br />But if you're pretty sure about what you want to do and it doesn't involve investment banking or management consulting, then you want to focus far more on the specific strengths or geographic location of the school.<br /><br />Also, if you're in your 30s and beyond, you already have an extensive body of work that employers will look at no matter how hard you try to run away from it. Of course, there's a difference in opportunities between say an online degree and Darden, but there's not really going to be a huge difference for you whether you got to Darden, Kellogg, or Stanford -- because as a seasoned professional, you will be judged on your entire body of work. In fact, depending on your circumstance, it may not even matter whether you go to a top30 vs. a top16 school.<br /><br />Pedigree matters for kids because they don't have much else. Experience matters for adults - even if such prior experience is not related to your current career aspirations. And other than banking or consulting, just about every other industry values experience above all.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com2tag:blogger.com,1999:blog-6255671504631235632.post-10472427010928733542008-06-24T16:15:00.001-07:002008-07-03T12:49:56.725-07:00The MBA Job Market: Lessons from the PastWith an expected increase in applicants to the top MBA programs coupled with a far tighter job market, the next few years for MBAs is going to be tough. It'll be harder to get in, and it'll be harder to get the jobs that they want.<br /><br />However, this isn't the first time it's ever happened. And it certainly won't be the last. Every time the current crop of folks will say "this time, it's different" -- those who've been through multiple cycles know otherwise. The circumstances may change, but it's been that way since the dawn of time -- there will be good times, and there will be bad times, and neither last forever.<br /><br />So here is some food for thought.<br /><br /><span style="font-weight:bold;">(1) Be pragmatic.</span> You may not get the dream job you want. Frankly, even during boom times, it's hard to get your dream job, especially if you're career switching and need to convince a company that "even though I don't have direct relevant experience, I ...." It's just hard to get a good job, period.<br /><br /><span style="font-weight:bold;">(2) Know what and what not to settle for. </span>This will vary by individual. Some of my classmates in the aftermath of the dot-com bust in 2001 and post 9/11 took whatever job they could get (just anything) because they couldn't bear not being employed and needed the money badly. And they turned out all right. Others were more willing to hold out -- some as long as a year and a half to get the job they wanted (and they turned out all right). The most important thing is to know that everyone has a different threshhold -- and to AVOID getting sucked into whatever peer pressure you may be facing (i.e. "all my friends are holding out, so I should do the same" or "all my friends are settling, so I should do the same"). It's your life, your money, your obligations, your priorities. From a practical standpoint, it comes down to how much risk you're willing to take to hold out, vs settling for whatever it is you have. How long are you prepared (mentally and financially) to survive without a job post-MBA to get the job you want?<br /><br /><span style="font-weight:bold;">(3) There are many paths to the same goal.</span> For example, if you really really want to work in some specific sector in finance, you don't need to necessarily start there right after b-school (although the direct path is usually the preferred route). In a bad job market, you may have to be prepared to reach your goal EVENTUALLY rather than IMMEDIATELY. And if it's really what you want to do, it really shouldn't matter in the grand scheme of things whether you get there now, or get there later through some circuitous route.<br /><br /><span style="font-weight:bold;">(4) There is no template or formula.</span> It seems like so many MBAs are too keen to search for some template or formula to follow whatever it is they want, rather than THINKING FOR THEMSELVES. MBA students (and applicants) seem to be so prone to herd mentality, like they need constant reaffirmation for the choices they make by constantly benchmarking the actions and choices of others. When many of your fellow MBAs act like sheep, it's easy to just fall in line if you're not aware that they're just being sheep and looking to you to figure out what to do. Be aware of the convention, but don't feel bound by it. Forge your own path.<br /><br /><span style="font-weight:bold;">(5) It's not that fragile.</span> As alluded to in (2), most if not all the MBAs I knew from various schools who graduated in '01 turned out all right. Likewise, the 2009, 2010 and 2011 grads will turn out all right - the first few years post-MBA may be a tumultuous and stressful time for many, but in the end it'll be fine - short of armageddon (but then, it wouldn't really matter for any of us if that were the case, now would it?). The direction of your whole life doesn't hinge on whether you get the interview with a particular firm, or whether you make $X or anything else that may seem to cause an MBA to get an unnecessary ulcer. Yes, it can be stressful if you have loans to pay back, and being unemployed sucks, but adding phantom stakes of how this will impact your life long-term only makes it worse. You are getting an MBA (or just graduated with one) to work a desk job at a company -- nothing of real consequence is going to happen to you if it doesn't quite work out. And if it's a matter of survival, no one is going to laugh at you if you have to live with your parents (it's been done by quite a few grads from top schools in the last crash of '01). You're not shut out of some uber-prestigious job because you've had to take your old pre-MBA job to make ends meet, or to work part-time at Starbucks. Yes, it can be trying, it can be tough -- but you'll come out such times a stronger and more wiser person -- wiser about who you are and what you *really* want. And when you've finally been able to strip away the mystique or prestige or whatever it is you've ascribed to whatever career path you so coveted, you'll see that WORK IS WORK. Most people (even those who may have seemed to reach their childhood dreams) aren't exactly thrilled about having to work - but they do the best they can.<br /><br />Some of you may know that careers aren't linear. Life isn't linear. Things happen to you that will change your world forever, causing you to start over. Or you will make that choice. You will more likely go from one career path to another completely unrelated career path -- and do that a couple of times for the rest of your life. This isn't your parent's generation where you work up the ranks as the "company man" or there's clear "exit strategy" for job XYZ which then leads to job ABC and so forth. Lawyers go back to med school. Equity research analysts quit and join a rock band. Many walk away from corporate life to start a mom 'n pop business, with some only to come back to corporate life. Others become full-time parents. A life's work these days is becoming a random series of careers - and in the workplace, a revolving door of newcomers coming in and veterans leaving.<br /><br />That's why there isn't some 10-step plan for getting a job in a tough job market (or any job market), other than keeping your expectations realistic.<br /><br />And most importantly, like many things -- NOT getting what you want can lead to other more wonderful things you never would've even discovered otherwise -- if you're willing to see it that way.<br /><br />As vague as it may sound, you want to be as focused as you can, but open to other things along the way as well - it's a difficult but worthwhile balance to strive for as you enter b-school this fall (or if you're applying to b-school, a good way to get a head start on this before half the MBAs start jumping off the cliff in panic and fear).MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com1tag:blogger.com,1999:blog-6255671504631235632.post-44062624125931522682008-04-27T14:35:00.000-07:002008-07-03T12:51:35.046-07:00Positioning Yourself For Business SchoolAnother common enquiry I seem to get on discussion forums are from recent college grads who wonder how to best position one’s self for business school in a few years’ time.<br /><br />If there is one thing, it is to become talented and accomplished at something other than studying or academics.<br /><br />If you haven’t already since childhood, get actively involved in something else other than academics – arts, sports, politics, entrepreneurship, nonprofit, religion, etc. Getting involved in these activities and becoming reasonably accomplished not only is good for your soul (as well as your overall well-being and feeling like you’re part of a community), it will give you something that academics cannot – street smarts. The “real world” (however you want to define it) rewards street smarts more than book smarts.<br /><br />Folks who are preoccupied with window dressing their resumes don’t spend their free time nurturing their talents. These window dressers are more preoccupied with what looks good on a resume than they do actually pursuing something with a remote sense of sincerity. Sometimes it’s hard to separate the window dressers from the bona-fide overachievers, but usually it’s easy to tell. If you spend your time window dressing, chances are you aren’t fooling anybody (other than yourself).<br /><br />Build a life, not a resume.<br /><br />When you’re young and just out of college (or even a few years out) it’s hard – many of us get it. We’ve been there. There’s lots of pressure (either external or internal) and people telling you “what to do.” The best thing you can do for yourself is to do what’s best for yourself (<span style="font-style:italic;">even</span> if you're not entirely sure what that is!), rather than giving up all your decision-making and choices to gatekeepers (adcoms, future employers you would give your left nut to work for, overbearing parents, peers/classmates/friends, etc.). You may not have the full confidence in your decisions because you feel you’re still a little green. But you will learn more from your own mistakes and regret far less later on if you made those decisions for yourself rather than planning out a career/life based on someone else’s terms (whomever that “someone else” may be – peer pressure, parents, imaginary adcoms, etc.).<br /><br />Other than that, there is no real template, other than being as accomplished and talented as you can at whatever it is you do. We all wish there was some cheat sheet or formula for success – that if you do “A” and “B” will get you “C” – how we navigate our careers and lives would be so easy, predictable, and boring.<br /><br />No one can teach you or show you how to be an overachiever, or how to be exceptional at something (whatever that “something” is). You either do, or you don’t.<br /><br />It’s about making the most of your talents – whatever that talent is – believing in yourself, and then having the discipline, thick skin and heart to recover and get up from the many setbacks and failures you will experience along the way to that one notable achievement.<br /><br />Most things that are hard or worthwhile to attain usually take a few years of you hauling ass before you start to see results. Real leadership positions, relationships with important people, exceptional achievements, and so forth all take time to earn.<br /><br />Career choices, what to do with your free time, and so forth aren’t all about “what looks good for adcoms” or “what looks good for a resume.” Children worry about how to impress others. Adults do what’s best for themselves (and the offspring they're responsible for) -- irrespective of what others think.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com3tag:blogger.com,1999:blog-6255671504631235632.post-63826251277541105882008-04-27T14:31:00.001-07:002008-07-03T12:52:35.790-07:00Is A Full-Time Program Really What's Best For You?Some of the frequent enquiries I get are from mid-career professionals in their 30s (and beyond) looking to make a career transition.<br /><br />And the sentiment tends to be, “I’ve done all I want to do with [insert career here] and frankly looking to move on.”<br /><br />I get it. Adcoms – many of whom are in their thirties and beyond – also get it. Careers these days have a much shorter lifespan than they did in our parents’ generation. We will likely switch careers every 10-15 years from now on.<br /><br />However, is a full-time MBA program really the best way for you to make that career transition?<br /><br />It’s a question that I believe is taken for granted across the board, but if you are a mid-career professional, it’s especially important that you have really answered this question for yourself in as informed a way as possible.<br /><br />And I stress INFORMED – because it’s one thing to constantly think about the MBA as the “way out” in your own mind and another to form informed opinions based on comprehensive research and inquiry into what a full-time program can and can’t do for you.<br /><br />That also goes for post-MBA careers, which is the real goal – not the full-time MBA.<br /><br />Too often, it’s easy to make the full-time MBA the “end game” rather than just a transition point to get you from A to B (with many other equally valid ways to get you to Point B).<br /><br />The best thing you can do as a mid-career professional is to invest most of your energy into researching the career goals you are aiming for first and foremost. Some questions you may want to ruminate on:<br /><br /><span style="font-style:italic;">Why are you so interested in this new career path? What is it that attracts you to it? You can never be too specific (and 99% of the time, people answering this question are rarely as specific as they need to be – perhaps because they are afraid of their own insight and introspection).<br /><br />What are you hoping to get out of this new career path that your current job/career isn’t giving you?<br /><br />Conversely, what tradeoffs do you think you’ll need to make – in other words, what are the good things you take for granted now that you will miss in your future career? <br /><br />Is your dissatisfaction with your current job limited to the specific circumstances of the job itself, or would you be equally unhappy at a comparable job at a competitor?<br /></span><br /><br />These are just some of the questions you should be really contemplating and answering for yourself. They are big and broad questions, and more often than not, it’s very easy to keep it at a very superficial level without a lot of thought.<br /><br />The more specific you are about what it is you want, the better you can figure out for yourself what you need to do to get there.<br /><br />And when you do, you’ll likely look at part-time programs, executive MBA programs, or simply forgoing the MBA altogether as equally valid alternatives to full-time programs that you may have irrationally (and perhaps naively) pinned too much of your hopes on.<br /><br />This doesn’t mean that the full-time structure and curricula in theory isn't beneficial to people of all ages, but in reality they are structured for 20-something kids with a few years’ experience who are still very early in their careers.<br /><br />Until business schools have full-time degree programs like what Harvard’s Kennedy School is doing with their Mid Career Master in Public Administration, you will be trying to stick a square peg in a round hole by focusing on full-time MBA programs as a mid-career professional.<br /><br />Moreover, my guess is that 80-90% of mid-career professionals who had originally looked at investment banking or management consulting as entry points into a business career would not do so when they become truly informed about these career paths in the first place.<br /><br />There are many ways to get from Point A to B. There is no template.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com2tag:blogger.com,1999:blog-6255671504631235632.post-54283137628476154242007-12-15T14:44:00.000-08:002008-07-03T12:53:22.665-07:00Why Career Goals Matter For the ApplicationOne of the most common refrains I hear from applicants is "why do adcoms want us to be clear and specific about our career goals?"<br /><br />Isn't that what business school is all about? Spending two years figuring out what you want to do. MBA students know that. Adcoms know that. So why is articulating your career goals such an important part of the application?<br /><br />Put it this way. Every adcom knows that most candidates haven't *decided* on a career path. But they just want you to discuss *one* such path for the purposes of the application -- a path that you would seriously pursue amidst of other alternatives that you may be considering.<br /><br />In other words, there's a difference between being "clueless" and being "undecided". When most b-school students say "I really don't know what I want to do," they are usually undecided, not clueless. They have an idea of the two or three paths they'd like to pursue -- but they just don't know which path to take (and they have given each path some thought and research). The clueless on the other hand simply don't know anything.<br /><br />Asking you to articulate your career goals helps the adcom weed out the clueless, with the implicit understanding that you as the applicant may be undecided.<br /><br />So while it's not really important to have decided on a career path (or to even follow through on what you wrote in your essays), it's important to at least get a clue.<br /><br />It's important because from the moment you step foot on campus for your first day of classes, the signs of recruiting season for the upcoming summer already begin. The campus will be plastered with more company logos than NASCAR, and more trinkets and swag than an industry convention. Company recruiting presentations begin within the first month or two of school - just as you've barely begun to adjust to student life again. In this kind of environment, it's one thing to be undecided, but it's another to be clueless.<br /><br />Most importantly, being able to articulate *one* career plan you would like to pursue in your application also reveals a bit about who you are and what you value. Sure, few people know *exactly* what they want in the long-term, but your ability to envison *something* specific at the least shows you have the ability to imagine beyond your immediate reality, while showing that you have some heart and conviction for something (and a plan on getting there) - that you're not just another worker drone who sleepwalks through his/her life.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com0tag:blogger.com,1999:blog-6255671504631235632.post-36220290896031592202007-08-03T18:21:00.000-07:002008-07-03T12:54:30.888-07:00The Age ConundrumOne of the common themes I hear from applicants these days is why schools are going younger. I don't necessarily agree with it, but I understand why they're doing it. <br /><br />Here's some of the reasons why:<br /><br /><br /><span style="font-weight:bold;">THE MBA, JD or MD?</span><br /><br />Historically, the MBA was the ugly sister of the big three professional graduate programs at most universities. The top science graduates tended to go to medical school, whereas the top liberal arts graduates tended to go to law school. And while this is certainly changing, it still holds true for many of the best and brightest college seniors. Using GPA as a crude proxy for "raw potential", the incoming GPAs for students at the top medical programs and law schools is around 3.7 - 3.9. For the top business schools, it's around 3.4 - 3.6. In other words, the top med/law schools are full of "A" average students, while the top business schools are filled with "B" average students.<br /><br />You may think that comparing business, law and medicine is silly. And in some ways it is. But here's an interesting stat to consider:<br /><br />The average age at matriculation for many of the top med and law programs is 24-25. If most people enter college at 18 or 19, they graduate by the time they're 22 or 23. Unlike the prior generation (1990s and earlier), folks aren't going straight into med or law school anymore - but are taking a break from school for a few years before going back (and the kind of kid with a 3.9 GPA and a super high LSAT/MCAT isn't going to be working as a greeter at the local Wal-Mart, but is likely to find some interesting work). Visit any top law or med school, and you'll likely find that a good number of these students already have 1 - 3 years work experience. For example, at schools like Harvard or Stanford Law, the majority (54 and 69% respectively) did not go straight from undergrad.<br /><br />So business schools know that these college graduates are ripe for the picking. Since at least half of the kinds of people who get into these top law or med programs aren't fresh college grads (but have a few years work experience), they want to encourage these kinds of people who wouldn't normally consider business school to apply. They want to be competing for the "best and brightest" that normally would be applying to law or med school - which only increases the caliber of applicants and therefore the caliber of incoming students.<br /><br /><br /><span style="font-weight:bold;">THE US MINORITY FACTOR</span><br /><br />Going younger also may have an impact of attracting more high caliber US minority applicants. Traditionally, minorities in the US have seen medicine and law as the primary means for social and economic mobility. In other words, whether you're Asian, Hispanic or African-American, it's the one thing that can make your parents beaming proud. Law and medicine within most US minority communities still holds a certain cachet that a business career doesn't yet hold (even to this day, although that is changing).<br /><br />Why it holds cachet comes down to opportunity. Law and medicine has always been perceived to be more meritocratic than the business world - they are professional services professions that are less hierarchal compared to the "traditional" business world of patronage, "relationships" and bureaucracy. Traditionally, business careers (particularly big business, Wall Street, etc.) have been an upper crust white man's world. Business isn't about merit. It's about money, power and contacts. Prior to the 1980s (or some say even 1990s), graduating with an MBA didn't grant you the same access to the business world that a white male would've had - particularly on Wall Street or in the executive suites in virtually any industry (or whether you'd be groomed for upper management) except for perhaps the technology sector. Corporate America has certainly made progress in the last 20 years, but these deep-seeded attitudes with the US minority communities of what professions hold "cachet" that go back generations don't change easily or overnight - even though today, an African-American male wouldn't be out of place at Goldman Sachs. Reality can often change much faster than the perceptions of that reality.<br /><br />More often than not, the overachieving US minority guy or gal is therefore more likely to go to law or medicine than to business. And for business schools to boost (or maintain) enrollment (particularly with rumors that minority applications have decreased in the last few years) of US minorities, it has to go after the minorities who are considering medicine or law - to encourage them to consider a business career, and apply for an MBA instead.<br /><br />So the hope is, by going younger, the natural byproduct will be an increase (or maintenance) of applications from US minorities.<br /><br /><br /><span style="font-weight:bold;">WOMEN, THE GLASS CEILING AND THE BIOLOGICAL CLOCK</span><br /><br />Unlike their medical or law school counterparts, business schools have had a tougher time attracting women applicants. While around half the med or law students are now women, only one-third of business schools are women (or less at some schools). Some of the main obstacles that discourage women from applying for an MBA are:<br /><br />(1) The glass ceiling - while the global workplace has become far more diverse in terms of ethnicity and nationality, it's still largely a man's world at the top. Women aren't dumb. They see so much of the business world as an old boys club (but now with some more color). The glass ceiling is even more extreme outside of North America (curiously, with the exception of China, where everyone is too preoccupied with making money that they don't care whether you're a guy, girl, hermaphodite, etc. so long as there's quick money to be made). Not surprisingly, the overwhelming majority of women in an MBA classroom are either from the US or China. Compared to law or medicine, why bother getting a business degree if you have to work in a profession that stacks the cards against you?<br /><br />(2) Biological clock - with the average ages creeping up to the late 20s and early 30s, women become discouraged from applying because it happens to coincide with family planning considerations. Most working women tend to have children in their late 20s and early 30s, so it makes less sense to go back to school, only to go straight into a maternity leave situation right after business school (and particularly in a profession such as business which isn't friendly to women anyhow as mentioned above). Encourage women in their early to mid-20s to apply, and the calculus makes a bit more sense, as it gives women the opportunity to work for a couple of years post-MBA before having children.<br /><br />Business schools can't do much about the glass ceiling as mentioned in (1) nor can they do a whole lot to bring about better gender parity amongst international applicants, but they can at least try to encourage more North American women to apply. Not only does going younger help with "biological clock" considerations, it allows the business schools to dip into the pool of high caliber women applicants who would be considering law or med school.<br /><br />That's one of the reasons why business schools are touring undergraduate campuses and making a push to seek out "early career candidates" - to plant that seed in these college juniors and seniors that an MBA is also a possibility sooner than you think, particularly amongst women and minorities.<br /><br /><span style="font-weight:bold;"><br />RECRUITERS WANT YOUNG MEAT</span><br /><br />Particularly at top schools, two-thirds of the class goes into financial services and management consulting. Both these sectors employ MBAs starting at a relatively junior level in the organization. Given the nature of these jobs, they want them young and single. It's harder to attract a married 33 year old to investment banking and have him/her excited about working 80 -100 hour weeks. It's harder to attract this same person to maintain the hectic travel schedule of a consultant. Sure, there are some that will do it, but many at that stage in life won't or will do so more reluctantly than a young and single guy/gal who can afford to put his/her personal life a distant second. Again, this is two-thirds of the class (including HBS and Stanford).<br /><br />And let's face it. Younger people are easier to exploit and manipulate. It's easier for a manager to ask a 27-year old single person to go the extra mile, come in on a weekend to do "non-essential but helpful" work. It's harder to do that to a 33 or 35 year old parent with kids - because he/she won't fall for that kind of BS, or the manager will feel too guilty to even ask.<br /><br />Financial services and consulting will continue to be major MBA feeders - because they are the only sectors that will consistently hire armies of MBAs to staff their deals and projects.<br /><br />And as a result, these two sectors tend to be the primary benchmark for MBA starting salaries - which then factors into some of the rankings and let's face it - the perceived "prestige" of the program. In other words, MBA recruiters tend to benchmark their pay packages based on what the banks and consulting firms are paying - and not the other way around.<br /><br />So for business schools, it pays to go younger.<br /><br /><span style="font-weight:bold;"><br />PRODUCT DIFFERENTIATION</span><br /><br />As early as fifteen years ago, most business school students had around 2 - 3 years experience. Twenty-five years ago, most went straight from college. The average ages and years of post-college work experience climbed steadily in the last fifteen years, and largely went unchecked.<br /><br />Remember that business schools also run very lucrative executive programs and part-time programs. Call it product differentiation. The closer the applicant profiles are to the executive MBA programs, the harder it is for business schools to justify why they can charge a huge premium for the executive program.<br /><br />Also, the full-time MBA (at least in the business school's view) was designed for those early in their careers. The overwhelming majority of post-MBA jobs are not executive or senior management positions. Most are junior to middle management positions.<br /><br />For business schools, they want to position the full-time MBA as a program designed for young professionals looking for a early boost in their budding careers, as opposed to an insurance policy for a risk-averse bureaucrat trapped in a profession they want desperately out of.<br /><br /><span style="font-weight:bold;"><br />THE IRONY OF IT ALL</span><br /><br />The irony of business schools "going young" is that they are going after one piece of the pie while ignoring a potentially larger piece that is only growing.<br /><br />As an admissions consultant, I don't see a decrease in older applicants enquiring about MBA programs and "switching into business". In fact, it seems to be increasing.<br /><br />Unlike prior generations, we don't live in a world of linear career paths anymore. And given how accelerated everything is these days, it's safe to say that most people will hit a plateau or peak within 5-15 years in a career. The 20-year career path for most people is dead -- it's more like 10 year cycles. So that means college graduates these days should expect to switch careers about 3 - 5 times in their lifetime - a huge change from the prior generation where 1 - 2 careers in a lifetime was the norm.<br /><br />And these career switches likely won't be linear. With the way so many career paths are structured these days, your knowledge, skillset and contacts quickly become obselete. Or the job is so demanding that you are destined to burn out within 10 years. Once you hit a plateau where you don't think you can do much more or move up the chain any further, you have the choice of either staying in that plateau, or finding something else to do. And most probably won't have a choice. So chances are, it means having to (and wanting to) start over. Being able to reinvent yourself and your career(s) every decade or so.<br /><br />The investment banker in his 30s who then opens a restaurant in his 40s, and then becomes a school principal in his 50s, and then a writer in his 60s. The corporate marketing professional in his 20s who goes back to med school to become a doctor in his 30s, who then becomes a realtor in his 50s. The actor in his 30s who goes back to law school to become a lawyer in his 40s, who then starts a business in his 50s. The CEO of a telecom company in his 50s who starts a shrimp farming venture in his late 50s.<br /><br />In many ways, business schools have to think beyond the MBA if they want to truly stay relevant. Because there will be plenty of highly accomplished 30, 40 and 50-year olds in the future who will be looking to start over on their 2nd, 3rd or even 4th careers. And this group will dwarf the early 20-somethings looking to dive into their first careers.MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com4tag:blogger.com,1999:blog-6255671504631235632.post-70907158583677650722007-07-06T14:49:00.000-07:002008-07-03T12:56:00.151-07:00What kinds of people get into HBS, Stanford or Wharton?One of the most common inquiries I get is "what are my chances at Harvard/Stanford/Wharton? What kind of people do they look for?" The mythical "HBS, Stanford and Wharton" trifecta represents the epitome of what many applicants view as the Promised Land, or the quest for the holy grail (or maybe their own version of the 72 virgins in heaven).<br /><br />These schools look for the same things as any other school - strong academics, quality work experience, strong interpersonal skills, and "depth" (i.e. no androids or worker drones). The difference is, these schools can afford to be more picky simply because they have a stronger pool of applicants to choose from.<br /><br />There are essentially three kinds of people (regardless of nationality, ethnicity, gender, religion, etc.) at the Sweet Sixteen schools (see my prior post for what I mean by Sweet Sixteen):<br /><br />(1) Blue Chips - these are folks with pedigree. They went to top undergrads and worked at highly sought after jobs (by those at the top undergrads). There's nothing particularly special about them as people, but they have a strong blue chip background. They are the Princeton undergrad to McKinsey kids, the Westpoint grad who serves in Iraq, Wharton undergrad to Goldman kids, and so forth. They didn't just work in IB, but they work at Goldman or Morgan Stanley. They didn't just work at no-name private equity fund, but they worked at Carlyle or TPG. They didn't just work in consulting, but at McKinsey/Bain/BCG. They are smart and accomplished kids who did as well as they could taking a traditional and well-trodden path.<br /><br />(2) Vagabonds - these are folks who went to the same colleges as the Blue Chips (i.e. top undergrads), but rather than work at Goldman or Bain, they decided to take the road less traveled. They did the Peace Corps, worked as a theater producer, played on the PGA tour, became a clergyman (of whatever religion), worked in nonprofit, etc. Or they may have spent a year at Morgan Stanley, hated it, and decided to work as a personal aide to a Senator or Congressman.<br /><br />(3) Average Joes -- they went to okay colleges, worked in decent jobs (IT, accounting, some random corporate job, 2nd tier consulting, etc.). Or they went to top undergrads, but ended up in decent but unremarkable jobs (i.e. a lot of the IIT folks who are applying, or the Harvard undergrad who works at a Big-4). Or they are they went to okay undergrads, and worked at no-name hedgefunds. Or they went to a state school and ended up in IB or MC. And so forth.<br /><br />The difference with HBS, Stanford and Wharton is that you'll see far more Blue Chips and Vagabonds (and by extension, less Average Joes) than you'll see at other schools, and particularly at HBS and Stanford. That's partly self-selection (a good chunk of the Blue Chips and Vagabonds apply only to these schools), but also the fact that they are more sought after by all b-schools. Schools outside of these three will still get their share of Blue Chips and Vagabonds, but not to the same degree. And by extension, there are quite a few Average Joes at these three schools but not to the same degree as other schools.<br /><br />One other thing: age range matters too. A Blue Chip who is more than 5 years out of undergrad sees his/her chances at these three schools diminish. Most of the Blue Chips you'll find at these schools are roughly 24 - 27 years old (but you can get away with being a little older at Wharton, and it's not really an issue outside of H/S/W). With Average Joes, there is also a limited window where you have a fighting chance -- around 2 - 5 years experience (and outside of H/S/W it's less an issue). It's only with the Vagabonds and US military personnel where age is less an issue (and if you look at the older folks in these classes, most are Vagabonds and US military officers (and if you're thinking that being in the Korean, Taiwanese, Singaporean, Israeli military for the 1 - 2 year stint as part of your mandatory service is seen in the same light - it's not; they dynamics are simply not the same as choosing the military as your career path in a volunteer army). While schools like to talk about getting "all kinds of people from all age ranges", the reality is at HBS, Stanford or Wharton, the window of opportunity is a bit narrower, and if you're an outlier (especially on the older side), you better have something special and unique to bring to the table.<br /><br />Of course a lot of people don't fit neatly into one of these three buckets, but it's a good rough way to determine how an adcom will see your profile.<br /><br />One way to look at it is that at H/S/W, if you are a Blue Chip or Vagabond, you are competitive so long as you submit a strong application. However, if you are an Average Joe, you need to be very lucky as well in addition to submitting a strong application (because of your Average Joe background, it becomes a far more subjective and random process).<br /><br />Also, one thing to keep in mind is that for most of the Blue Chips and Vagabonds, going to HBS or Wharton or Stanford isn't the best thing that's happened to them - they have a long enough list of pedigree and/or accomplishments in their lives already that it's not that big a deal for them whether they have the HBS name or not. They don't dream about having a prestigious degree, because many of them already have one (their undergrad), or have done some pretty interesting things in their lives that it trumps whatever brand name they have on their resume. That's why you'll see that the biggest proponents of "brand" and what it does for your career on this board (and to some extent in real life) are people who didn't go to these schools (i.e. they don't get it) - brand doesn't come before achievement and talent; achievement and talent comes first, and "brand/pedigree" is a nice dessert that may or may not result.<br /><br />Adcoms tend to admit people who don't need the "brand" on the resume - they would've been successful without it. It's like health insurance where they provide insurance only to the superhealthy, or banks lending only to those who don't need the money.<br /><br />The real acid test for applicants is this: if getting into HBS or Stanford would be the best thing that's ever happened to you professionally or personally, your chances are probably pretty slim (because you don't have enough to bring to the table, which is why HBS/Stanford/Wharton would be the best thing that's happened to you).MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com14tag:blogger.com,1999:blog-6255671504631235632.post-13932071096444917572007-06-08T17:09:00.000-07:002008-07-03T12:56:42.028-07:00The Next Big ThingEvery decade or so, one "hot" sector captures the imagination of MBAs looking to be the Masters of the Universe - that big payday or that job that would be the envy of their classmates and peers. It's this glory seeking, trophy hunting and status-seeking mentality that drives the herd mentality within the MBA jet-set. <p>In the 60s, it was advertising. In the 70s, it was conglomerates. In the 80s, it was bond trading. In the 90s, it was dot-coms and venture capital. And in this decade, it's private equity/hedge funds.</p> <p>It wasn't long ago when people were arguing that dot-coms were going to be hot for a long time. Even b-schools introduced ecommerce majors, as if business fundamentals were somehow different in a virtual world (well, they are when you are in a stock market bubble). Before that, quite a few assumed that bond trading would continue to be the darling of MBAs, and Silicon Valley was scoffed at as just a bunch of geeks in a garage. If history is a decent guide, you can probably fill in the blanks. Things change, but human nature never changes.</p> <p>While some of the interest certainly is genuine, most of it is, like any market bubble, driven by greed and fear. Like any asset market, greed makes you buy when you should be selling, and fear makes you sell when you should be buying. The smart money got in before the sector got hot.</p> <p>You probably know that the private equity market is overheated right now. Same with hedge funds. Too much cheap money chasing too few deals. Bad times never last forever, but good times never do either.</p> <p>If you're looking for a career in the "hot" sector, by all means go for it. But if you're looking for glory, you're too late to the game. By the time you have a shot at glory, the party's over. All that talk of billion dollar bonuses at hedge funds and private equity shops are about 10 - 30 years removed from where most MBAs (and aspiring MBAs alike) are at today. Working as an underling *for* a big swinging d*ck isn't the same as *being* the big swinging d*ck. The former is like being a chambermaid for royalty - just because you help make someone's bed, doesn't make you part of the family, nor does it mean you have anywhere near the same benefits and perks either.</p> <p>Like celebrities in People Magazine (and MBA herd mentality is like People Magazine), all hot sectors "jump the shark" before it's replaced by something new.</p> <p>And private equity has jumped the shark. What used to be the playground for burnt-out investment bankers in the past has now become the dreams of IT engineers - just as the market has peaked. It's like schoolteachers talking about the latest penny stock.</p> <p>Like advertising, conglomerates, bond trading and dot-coms -- private equity won't disappear. But it sure won't garner the attention or glory in the future that it does now. And it may even institutionalize even further, making the "big swinging d*ck" in private equity as obsolete as it is in investment banking. The nature of the job is gatekeeping. You are a gatekeeper of money. The folks who made it big didn't make it big because they were good gatekeepers. They made it big because they got in early before others caught wind.</p> <p>Again, if you're banking on glory, status or even just a huge financial windfall, don't count on it if you're this late in the game. By the time you make partner, People Magazine would've moved onto something else much sexier, trendier and more lucrative - you'll be yesterday's news by the time you've made it. All the press, accolades, and money that showered the partners today will be on some other industry by the time you've climbed the ladder.</p> <p>The folks who generate the enormous windfall have one thing in common -- they get in early. Whether it's real estate, stocks, art collections, or even careers - they managed to stay ahead of the uninformed masses. </p> <p>It's not about being smart, educated, pedigreed, or rich - it's about being early. Most of the personal wealth amassed by Google staff isn't concentrated in the Stanford MBA alums - most of it goes to those who were there in Google's early stages - from the CEO all the way down to the customer service rep. In most cases, the early birds have the largest piece of the pie in any venture.</p> <p>Buy low, sell high. MBAs who are part of the herd mentality unfortunately tend to buy high and sell low.</p> <p>So what is The Next Big Thing? It could be healthcare. International porn. Or it could be all about Eastern Europe, China and India (note to international students, and particularly the Indians who seem to be the most adverse to repatriating compared to other internationals -- if you believed this, is there any reason why you need to be an H1B indentured servant post-MBA, rather than being the early bird entrepreneur back home -- as an aside, the few folks who are going back now will likely reap greater rewards long-term than any H1B employee ever will who believes "someday I'll go back"; mark my word on this).</p> <p>Personally, I have no idea what the Next Big Thing is nor do I really care. And you probably don't. That's the point. You're chasing your own tail if you do. It's not about trying to time the market or to play market contrarian with your career. It's simply about being brutally honest with yourself about what it is you enjoy doing, and sticking to it. Because everything will have it's day in the sun if you enjoy the job enough to stick through the tough times. Who knows, maybe even insurance or accounting may be The Next Big Thing... stranger things have happened. And if you're too risk averse that you have to stick with what appears to be safe, then don't expect much - greater returns come with greater risk.</p>MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com9tag:blogger.com,1999:blog-6255671504631235632.post-82184537254368645672007-06-08T16:44:00.000-07:002007-06-08T17:05:58.127-07:00The Top MBA Programs<h1 style="font-weight: bold;font-family:arial;"><span style="font-size:78%;">WHAT ARE THE TOP MBA PROGRAMS?</span></h1> <p class="MsoNormal"><!--[if !supportEmptyParas]--> <o:p></o:p></p> <p class="MsoNormal">If you've read my postings on the <a href="http://forums.businessweek.com/n/pfx/forum.aspx?tsn=1138&nav=messages&webtag=bw-bschools&tid=66879">Businessweek</a> or <a href="http://www.vault.com/community/mb/mb_main.jsp?forum_id=6095&ch_id=255">Vault.com</a> forums, you'll undoubtedly know that I try to avoid the rankings talk. Rankings debates usually disintegrate into pissing matches, with the resulting discussion exaggerating the differences that no one else but applicants and students would actually care about.<br /></p> <p class="MsoNormal">What I've posted below isn't something I care too much about, but it seems like enough people are curious about my opinion as an admissions consultant. This is the first and last place I will post anything about rankings.<br /></p> <p class="MsoNormal">Here’s how the tiers more or less break down:</p> <p class="MsoNormal"><u>Top Three:</u> HBS, Stanford, Wharton (some say Wharton is just a rung below HBS and Stanford but above Kellogg, MIT, Chicago, Columbia or Tuck, which I won’t dispute – opinions vary).</p> <p class="MsoNormal"><u>Elite Eight:</u> Top 3 plus Kellogg, MIT, Chicago, Columbia and Tuck. Some say Tuck is just a rung below; again opinions vary.</p> <p class="MsoNormal"><u>Sweet Sixteen:</u> Elite 8, plus Michigan, Duke, Darden, NYU, Berkeley, UCLA, Cornell, Yale (some will say that Cornell and Yale are just a rung below, but again opinions vary).</p> <p class="MsoNormal"><u>Rest of the Best:</u> These are the top regional schools including (in no particular order) UT-Austin, Georgetown, USC, UNC, Emory, Babson, Indiana, Purdue, Notre Dame, Maryland, Carnegie Mellon.</p> <p class="MsoNormal"><u>Big Two International:</u> It’s basically INSEAD and London Business School (LBS), and then everyone else. The caliber of the student body and reputation of both these schools are comparable to the US Elite Eight.<br /></p> <p class="MsoNormal">There is no material difference in reputation between schools within the same tier. In other words, don't ask whether Columbia has a better reputation than Chicago or Kellogg, because other than the alums and students, no one cares!<br /></p> <p class="MsoNormal">To use a car analogy (you’ll notice I like to use analogies), the US Elite Eight and the Big Two International are like the reputable European cars (i.e. the French cars like Renault and Peugeot are thus excluded). The bottom of the Sweet Sixteen are like Japanese cars – they don’t quite have the cachet of the Euro cars, but they are usually just as good.<span style=""> </span>The Rest of the Best are like American cars – they don’t have the cachet or quality of either the Euro or Japanese cars, but they’re still pretty decent. Once you go beyond the Rest of the Best, the schools become pretty spotty, much like a Russian or Chinese car.</p> <!--[if !supportEmptyParas]--><!--[endif]--><o:p></o:p> <h1 style="font-family:arial;"><span style="font-size:78%;">HOW WOULD YOU DIFFERENTIATE THE ELITE EIGHT SCHOOLS?</span></h1> <p class="MsoNormal"><!--[if !supportEmptyParas]--> <o:p></o:p></p> <p class="MsoNormal">I assume you’ll do your own research, and since there’s so much info out there on the websites, discussion forums, etc. which take a pretty dry approach in comparing schools, I’ve decided to stick with the car analogy – when you strip away all the discussion about GMAT averages, salary stats, career placement profiles, student satisfaction surveys, rankings, etc. you’ll find that these analogies are pretty apt (if I must say!). The reality is, these schools are far more similar than they are different, so here’s a bit of a tongue-in-cheek comparison of the schools’ reputations:</p> <p class="MsoNormal">HBS is like the British luxury car of varying quality - Bentley, Aston Martin, MG, Rolls-Royce. They are Establishment, tophats and all. Some drivers are able to break the "unapproachable" mold and will take their cars for a bit of a joyride, but some are trapped in the pomp and circumstance of their cars.</p> <p class="MsoNormal">Stanford is like the Italian sports car - Lamborghinis, Ferraris, Alfa Romeos, Maseratis. They are bold, distinctive, and anti-authoritarian. They aren't the most reliable cars, but they sure look good, and they are the ultimate joyride car, risks be damned.</p> <p class="MsoNormal">Wharton are like the German sports cars - Porsche and AMG-Benz. They combine the quality/reliability of German engineering that the British and Italian sports cars don't have, with the cachet that rivals only the British and Italian luxury cars. However, they don't quite have the same cachet of the British and Italian luxury cars, even though many drivers would still kill for a Porsche 911 turbo or AMG.</p> <p class="MsoNormal">Chicago GSB is like a Volvo - the quality, performance and reliability is probably as good as any luxury automaker, but it doesn't do as good of a job at marketing itself. It has a reputation for being a bit staid, boxy, boring. But it's like a tank - impenetrable to any kind of criticism because its owners will try really hard to explain why its car is as good as any German car out there.</p> <p class="MsoNormal">Kellogg is like a Volkswagen - they aren't the most reliable cars, but they are sure fun cars to drive. They also have a very young, hip and aspirational image - but one that is within reach of many people. They are very good at promoting and managing its reputation as a “cool and hip” car to drive.</p> <p class="MsoNormal">Sloan is like an Audi - more people have them than you'd expect, and for a German car, they are a bit younger and hipper. Particularly it's S-series. They are mentioned alongside the other great auto manufacturers, but still fly under the radar in most discussions.</p> <p class="MsoNormal">Columbia is like a BMW - an amazing machine that combines performance, quality and cachet, but it also attracts a disproportionate number of aggro drivers who believe they own the road, and act accordingly (blasting their music for everyone to see, cutting people off in traffic, honking their horns, etc.).</p> <p class="MsoNormal">Tuck is like a Saab. It's quirky, relatively small in number, but has a fiercely loyal following of aficionados. Not many people know the car, but those that do rave about it.</p> <p class="MsoNormal"><!--[if !supportEmptyParas]--> <!--[endif]--><o:p></o:p></p>MBA Applyhttp://www.blogger.com/profile/03845975274006682317noreply@blogger.com15