For Yiwei Wang Rusling of China, Howard Soh of Australia, Eyob Kinfe of Ethiopia and Carla Ganiel and Cindy O’Brien of the United States, the path to business school just became a lot smoother and more affordable. These individuals were named winners of the “Beat the GMAT 2008” competition, and were awarded business school scholarship packages valued at $15,000. The Beat the GMAT competition is designed to help business school candidates achieve their full potential on the GMAT and in the business school application process.

• Here’s the rundown on the five winners for the 2008 Beat the GMAT Scholarship competition:
  First prize was awarded to Yiwei Wang Rusling, a native of China, who came to the U.S. as a 17-year old freshman at Seattle University. The prize ($7,890 value) includes GMAT registration ($250 cash), one full Manhattan GMAT course, and a 4-school consulting package with Stacy Blackman Consulting, a business school admissions consulting firm.
• Second prize was awarded to Carla Ganiel of Maine, who has managed a variety of successful non-profit programs and completed two terms of AmeriCorps service. She provided health and safety training to migrant workers and established reading and math tutoring programs in Maine.
• Third prize was awarded to Cindy O’Brien of Detroit, a life insurance specialist who wants to obtain her MBA at the University of Michigan.
• Fourth prize was awarded to Howard Soh, a native of Australia, who is now an investment banker based in Kuala Lumpur.
• Fifth prize was awarded to Eyob Kinfe of Ethiopia, who earned his B.S. degree in Mechanical Engineering from Bahir Dar University, and is now working for Ethiopian Airlines.

To be eligible for the scholarship, applicants must have completed college or be in their final year of college and plan to attend business school within two years. The sponsors of the scholarship competition include Beat the GMAT, Stacy Blackman Consulting and Manhattan GMAT.

Fortune 500 companies, take note: Google’s free gourmet food goes a long way in keeping employees happy. Or so say almost a quarter of all MBA students polled on where they most want to work after graduation.

Asked to name five sought-after employers, 23.65% cited Google, according to the poll of 5,769 students at 52 business schools by research firm Universum Communications in an exclusive Fortune.com list. Management consultant McKinsey & Co. came in second, appearing on 15.84% of students’ wish lists, and investment bank Goldman Sachs was selected by 14.98%.

Catherine Clifford’s recent CNNMoney.com article finds that MBAs are attracted to Google because they “really get a lot of responsibility right at the outset,” says Yvonne Agyei, Google’s director of global university programs. “MBAs are looking for the opportunity to make an impact.”

But management consulting and financial services remain popular among MBAs, with 20% seeking work in consulting and 19% in financial services, Universum found. Meanwhile, smaller firms, companies with strong retail brands, and even some government agencies have inched upward in the rankings.

This year, the CIA ranks no. 37, up from no. 74 last year. Meanwhile, the FBI is in 47th place, up from 89 last year. And among women MBAs, the Department of Defense – Missiles and Weapons Division ranks No. 99.

Clifford points out some big differences between the sexes when it comes to where MBAs want to work. Among women, companies with recognizable brand names like Apple (ranked no. 3 by women, vs. no. 6 by men), Disney (7 vs. 14), Nike (9 vs. 13), and Starbucks (10 vs. 28) ranked higher. Among men, however, the survey shows that finance and consulting firms like JPMorgan (ranked no. 7 by men, vs. 13 by women) General Electric (8 vs. 16) and Morgan Stanley (10 vs. 19) tended to be more popular.

Now, if these guys would institute a fully subsidized canteen, their numbers would surely skyrocket!

This week’s GMAT challenge from PrepForTests.com is a problem solving question.

Have a go at answering this and then review your answer.

In our blog, we provide news, tips and tools to help you navigate the MBA admissions process. Despite the high volume of information that gets printed every week, we do not regularly address the fact that many applicants face a set of challenges that are very different from GPA, GMAT and resume. I want to help applicants work through road blocks to success that may include self-doubt, anxiety, procrastination and generally feeling overwhelmed by this process. Hopefully with a bit of “Vitamin MBA” I can help you to overcome these challenges so that you can put our other resources to work and truly excel on your applications. I now present you with a dose of “Vitamin MBA”:

It’s incredibly challenging to navigate the demands of MBA applications while also working full time, continuing with outside activties and oh yes – sleeping every once in a while. As we proceed through the application season and essay questions are published, there is increased pressure to crank out outlines and essay drafts, and move forward.  I know that many applicants struggle with this and end up procrastinating.  When we encourage our clients to send us a new draft or produce a deliverable, our ambitious, hard working, well intentioned clients often state that they will try to send us something by X date.  And, occasionally it does not happen because they are BUSY.  And…they really are busy.  But somehow you need to squeeze in these pesky applications if you intend to go to business school.  The following piece by Marie Forleo is amusing and inspiring…I hope it encourages some of you to stop trying and just get to work!

Do you find yourself trying to do lots of things, but never making any of them happen? For example, have you ever tried to make it to an event, or tried to lose weight, or tried to write a book? If so, then keep reading.

Part of the problem lies in a sneaky, 3 letter word. This little rascal is kryptonite to success and well-being. Until you become aware of it, and discover all the ways it’s already impacting your life, you’re destined to keep a tight lid on your profits and pleasure.

Want to know what it is? I’ll let my wise, green shorty friend fill you in.

“Do or do not. There is no try.”- Yoda

 

That’s right. “Try” is a sneaky little 3 letter word that sabotages success and keeps you locked in a state of mediocrity.

Of course, none of us are perfect. But the more you can catch yourself using this failure word and “drop it like it’s hot”, the easier it will be for you to produce the excellence you’re capable of.

Here’s 5 reason’s why you need to stop “trying” to do anything.

1. Trying keeps you constipated and stuck.

If you’re sitting down, I want you to try to stand up. Go ahead. TRY to stand up. If you’re following the direction, you should look…well…constipated. You’re probably stuck somewhere between sitting and standing with a slightly, um, strained look on your face. Whenever you “try” to do anything, you’re undermining your ability to just make things happen. When you remove the word “try”, you can just do it. There’s immediacy, power and action at your service.

2. Trying gives you permission to quit on yourself.

If you tell yourself you’re going to “try” to lose weight, do you think you’ll be successful? Probably not. When you “try” to do anything, whether you realize it or not, you’re giving yourself permission to quit. And having the “backdoor open” on any new venture is a surefire way to let yourself down when the going gets tough. Instead, get clear on what you intend to do and just do it. You’ll be far more likely to produce what you say you want.

3. Trying makes you “flaky.”

Did you ever have a friend that “tried” to make it to a party and never showed? Anytime someone tells me they’ll “try” to come somewhere, I know they won’t make it. And to be honest, when someone say’s they’ll “try to be there” enough times, I stop asking. They get slotted into the flaky, not count-on-able category. It’s much better to simply say yes or no. And if you’re really unsure, be transparent and let people know what your circumstances are. This way your “try” will have honestly and validity behind it.

4. Trying erodes your trust in yourself.

After you “try” enough times and fail, you have no trust in YOU. When you don’t trust yourself, it’s very difficult to make more money, grow your business and have the kind of magical life you DESERVE. Why? Because whether you realize it or not, your success in life hinges on your ability to give and keep your word. When you give your word and keep it consistently, you gain a tremendous amount of personal power. Then you can trust YOURSELF to make things happen.

5. Trying makes Yoda sad. Please be kind.

Even though he’s tiny, wrinkly and green, Yoda’s got feelings too. When you “try”, you shove Yoda’s priceless Jedi wisdom back in his face. Sources tell me his feelings get so hurt that he sits on the couch and eats an entire pint of Ben & Jerry’s Mint Cookie Chip ice cream. In case you didn’t know, Yoda is lactose intolerant. It’s not a happy evening for him. So if none of the other reasons are compelling enough for you, please stop “trying” for Yoda’s sake. OK ?

Remember, the first step in any transformation is awareness. The fastest way to stop “trying” is start noticing all the ways you do! Then it becomes easy to shift out of “try” and into powerful action.

Lifestyle entrepreneur and bestselling author Marie Forleo, publishes the weekly ezine ‘The Good Life Secrets’ helping women entrepreneurs be RICH, HAPPY and HOT. If you’re ready to make more money, grow your business and have more fun in your relationships and life, get your FREE advice now at www.marieforleo.com

A weak global economy hasn’t staunched employers’ interest in hiring MBAs, a recent survey by the Graduate Management Admission Council (GMAC) reports. In fact, the proportion of respondents to the annual GMAC Corporate Recruiters Survey who are preparing to hire new MBAs is higher this year than it was in 2007.

“Through economic slowdowns, as well as expansions, organizations see value in the skills that MBAs bring to the table,” says GMAC’s president and CEO David A. Wilson. “Even as there is serious retrenchment going on at investment houses, more companies in the finance and accounting industry plan to hire MBAs than did last year.”

There’s good news on the salary front as well, the survey has found. Most employers expect salaries to rise at the rate of inflation or better despite a rough economic climate that is seeing many firms cut back. “The preliminary salary projections are encouraging and do speak to the value of the skill and experience MBAs bring,” says Tom Kozicki, president of the MBA Career Services Council and executive director of MBA career services at the Paul Merage School of Business.

Corporate recruiters told GMAC researchers that this stable employment outlook for business school graduates reflects widespread respect among employers for people with MBAs. According to the press release, employers especially value business school graduates for their management knowledge and communications skills—traits that are as prominent among MBAs in a weak economy as they are when times are flush. The technical and quantitative skills typically emphasized by MBA programs also are selling points for recruiters.

So don’t let the economic slowdown get you down. Turns out that mega B-school debt will still be worth it.

Columbia Business School has partnered with the Frankfurt based Center for Value Investing to offer a value investing course in Europe. The course is open to investors at all levels who want to refine their understanding of value-based investing principals for professional or personal use. Registration for this course closes July 4, 2008 (enrollment is limited).

Investopedia defines value investing as “[t]he strategy of selecting stocks that trade for less than their intrinsic values. Value investors actively seek stocks of companies that they believe the market has undervalued.”

Participants will learn quantitative valuation techniques such as asset valuation and earnings power method to calculate intrinsic value. Methods of franchise valuation and calculation of investment risk will also be explored.

As Charlie Munger (Buffett’s egregiously rich side-kick) remarked: “All intelligent investing is value investing.” So if you’ve always wanted to visit Germany, treat yourself, and learn some important skills at the same time.