On behalf of everyone here at Stacy Blackman Consulting, today we’d like to wish our U.S.-based readers and clients a lovely Thanksgiving and a joyous holiday season. In this time of gratitude, we give thanks … →
On behalf of everyone here at Stacy Blackman Consulting, today we’d like to wish our U.S.-based readers and clients a lovely Thanksgiving and a joyous holiday season.
In this time of gratitude, we give thanks for you, our loyal blog readers. We appreciate your confidence in our work and are grateful that you’ve chosen us as a trusted resource to help you achieve your MBA goals.
Many business schools call their MBA admissions process holistic, and the University of Michigan Ross School of Business is no exception. We think admissions director Soojin Kwon‘s latest blog post really helps clarify that point … →
Many business schools call their MBA admissions process holistic, and the University of Michigan Ross School of Business is no exception. We think admissions director Soojin Kwon‘s latest blog post really helps clarify that point for applicants who may be wondering what, exactly, does a holistic review mean?
In a nutshell, a holistic review means taking into account several different factors when making admissions decisions: test scores, professional achievements, essays, and fit. This provides some comfort to applicants worried their chances will get torpedoed by a low-ish GMAT, or a lack of job titles that indicate an obvious leadership position. But, Kwon cautions, holistic review doesn’t mean all of those elements are weighted equally.
“For applicants who are agonizing over the essays, let me put it into perspective,” the director writes. “Spectacular essays won’t outweigh weak competitive academics or work experience. That said, a high GMAT isn’t everything. Last year, we denied hundreds of applicants with GMAT scores higher than 700. Rest assured, we read and evaluate all pieces of your application as we’re getting to know you.”
With the Round 2 deadline just after the New Year, applicants still have time to polish their essays, have one more go at the GMAT or GRE, or tweak their MBA resumes. Kwon is known for placing heavy emphasis on the candidate’s resume, and she reiterates that fact in this post.
Go over your resume carefully and banish any industry-specific acronyms or jargon that a lay person wouldn’t recognize, and make sure to highlight the achievements that identify results and impact, Kwon advises. As for the essays, she says make sure they are clear, sound like you, and fully answer the question, leaving no doubts in the reader’s mind.
Michigan Ross plans to hold an application webinar with last-minute tips for Round 2 on Monday, December 14th at 12:30 pm EST. If you need guidance—or reassurance—mark your calendars for that valuable info session.
Round 1 decisions come out on December 18th, so good luck to those applicants still interviewing and awaiting their outcome.
This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com There is no single right time to go to business school. Every MBA applicant has his or her own unique professional goals and … →
Without an established career trajectory to highlight, younger applicants must be able to point to a stellar academic record.
There is no single right time to go to business school. Every MBA applicant has his or her own unique professional goals and timetable, and while the vast majority of candidates still log three to five years on the job before applying, required work experience has been trending downward over the past decade.
We’ll likely see age and work experience requirements continue to shift, as data show that test-takers under 24 have been the fastest-growing demographic for the GMAT exam.
There are, however, certain types of applicants that set their sights on an MBA right after graduation. Some applicants do so because they don’t want to have to leave the workforce and put their life on hold for two years. The opportunity cost is the largest cost component of an MBA, and that financial sacrifice is lowest in the early career stage.
Other candidates may be thinking about when to start a family, and early entrance to business school would allow many women to establish their careers before having children. Female enrollment in elite business schools lags significantly behind men and tops out at around 40 percent in this year’s incoming class?, but the number of men and women enrolling in medical and law school is fairly evenly split, partially because both of these graduate programs continue straight after university.
Those thinking of applying to business school immediately after college or those with less than three years of work experience, should make an honest assessment of their academic profile, career goals and most crucially, examples of leadership. Also, research which business schools are open to younger, less experienced applicants.? Not all are welcoming to this group, and you don’t want to waste time applying to MBA programs that really value significant work experience.
School websites typically state their preference where work experience is concerned. Additionally, the class profile may also include data on where students fall in terms of their professional background.
Without an established career trajectory to highlight, younger applicants must be able to point to a stellar academic record that includes an exceptional undergrad GPA and GMAT or GRE scores that are through the roof. Any noteworthy scholarships or awards received in college should be included as well.?
The MBA is often used as a way for people to switch careers. Since younger applicants aren’t yet on a firm path, those with little experience need to be able to clearly articulate both short and long-term professional goals, and convince the admissions committee that the degree is critical to helping them reach those goals.
MBA programs that court younger applicants do so because they know that the degree is an excellent way to accelerate the development of rising leaders. Early-career applicants may have fewer work experiences, but the admissions committee is more interested in the quality than the quantity.
Leadership examples should therefore be exceptional. Maybe you worked for the family business in a pivotal role, started your own company or have shown strong leadership in an extracurricular setting.
When we first met our client Anita, she was a college senior at Northwestern University and thought that Harvard Business School‘s 2+2 program for younger applicants was perfect for her, as she would get two years of real-world work experience before returning for a two-year MBA program.
As an economics major, Anita knew that she would be competing with other students with great stats, so she and her consultant chose to emphasize her leadership experiences instead. While in college, Anita had organized a casual group of fellow long-distance runners to raise money for charity, and after several successful runs, she joined up as a local chapter of a national charity running organization.
Anita and her consultant created a narrative of leading younger people that started with Anita’s time as a Girl Scout leader, followed by her Big Sister mentorship, and continued with her resident adviser and orientation leader positions as a college junior and senior.
By highlighting Anita’s leadership qualities and showing how Harvard’s 2+2 program would help shape Anita’s future in the business world, she and her consultant created a strong application that ultimately earned her admission at her dream program.
While younger, less experienced candidates have a tougher time landing a seat at a top business school, MBA programs are definitely becoming more open to including them in the mix. Admissions committees put much consideration into who they will admit each year, and these days, creating a rich and diverse classroom experience often means including the voices of strong early-career students as well.
Have you been invited to a group interview—or hope you will be? Some of the world’s top MBA programs use a team-based interview format, and we won’t be surprised if this trend grows in the … →
Have you been invited to a group interview—or hope you will be?
Some of the world’s top MBA programs use a team-based interview format, and we won’t be surprised if this trend grows in the future. Business schools want students who will play nice with others, and so watching how someone interacts with peers before anyone’s even admitted can be very telling.
Here’s what you don’t want to do during a group interview:
Dominate the conversation
Cut others off or dismiss someone’s idea entirely
Raise your voice
Roll your eyes, cross your arms, or display any other kind of negative body language
Take out your phone or any other electronic device
Those may seem like obvious tips, but in the heat of the moment you’d be surprised how easy it is to forget you’re being judged. (Once again, this is exactly why some schools like this approach!)
Here’s what you should try to accomplish:
Demonstrate you’ve done your research (if given a topic in advance)
Listen—truly listen—to the others in your group when they speak
Seize any opportunities to either build upon or refer to someone else’s point
Put the group’s goal ahead of trying to get airtime
Offer to summarize if the conversation has reached a point where the group would benefit from a quick recap
As many MBA applicants are born leaders who are used to taking charge, you’ll need to be conscious of the fact that you might be surrounded by lots of Type A personalities and adjust your style accordingly.
However, if you tend to be on the shy side, don’t let others intimidate you. If no one’s given you the chance to get a word in, you’re going to have to find an appropriate way to join the conversation before it’s too late.
Do you want to stay on top of the application process with timely tips like these? Please subscribe to our weekly newsletter and you’ll receive our expert advice straight in your mailbox before it appears on the blog, plus special offers, promotions, discounts, invitations to events, and more.
Poets & Quants released its 2015 MBA ranking this week, and Harvard Business School has reclaimed the title of world’s best business school after rebounding from second place last year. HBS has landed the top … →
Poets & Quants released its 2015 MBA ranking this week, and Harvard Business School has reclaimed the title of world’s best business school after rebounding from second place last year. HBS has landed the top spot for five of the six years P&Q has published its composite ranking.
The school will continue to have a huge head start in maintaining that lead given its $3 billion endowment, which is three times the size of Stanford Graduate School of Business, its nearest competitor, notes P&Q editor John A. Byrne in Fortune. HBS has already raised more than $860 million toward the school’s $1 billion capital campaign, which still has three years remaining.
“No rival beats Harvard in the formidable resources it brings to the game: more superstar professors than any other school, the diversity of its course offerings, the stellar quality of its students, the size and scope of its campus, and the career achievements of its alumni spread all over the world,” writes Byrnes.
Top Ten U.S. MBA Programs
Harvard Business School
Stanford Graduate School of Business
Chicago Booth School of Business
University of Pennsylvania’s Wharton School
Northwestern’s Kellogg School of Management
Columbia Business School
MIT Sloan School of Management
UC Berkeley Haas School of Business
Dartmouth’s Tuck School of Business
Yale School of Management
Top Ten International MBA Programs
London Business School
IESE Business School
IE Business School
Cambridge Judge Business School
Oxford Saïd Business School
According to Poets & Quants, the lineup of the best U.S. MBA programs combines the five most influential rankings but each is weighted separately to reflect P&Q’s view of their authority: U.S. News & World Report is given a weight of 35%, Forbes 25%, Bloomberg Businessweek 15%, The Financial Times 15%, and The Economist receives a weight of 10%.
“The list is far more stable–and reliable–than most rankings published elsewhere, taking into account a massive wealth of quantitative and qualitative data captured in these major lists, from surveys of corporate recruiters, MBA graduates, deans and faculty publication records to median GPA and GMAT scores of entering students as well as the latest salary and employment statistics of alumni,” Byrne explains.
The Robert and Myra Kraft Family Foundation has pledged $20 million to Harvard Business School to create the Kraft Endowment for Advancing Precision Medicine, the school announced this week. The pledge, which is part of … →
The Robert and Myra Kraft Family Foundation has pledged $20 million to Harvard Business School to create the Kraft Endowment for Advancing Precision Medicine, the school announced this week. The pledge, which is part of Harvard University’s $6.5 billion capital campaign, was announced at the Partners Precision Medicine Conference yesterday at Harvard Medical School, with foundation president Robert Kraft in attendance.
(LtoR): Jonathan Kraft, Richard Hamermesh, Robert Kraft, Todd Golub, Robert Huckman Photo: Justin Knight
The Kraft Endowment will be used to support research and other activities that advance the field of precision medicine. Precision medicine is a growing movement in patient care that allows scientists and physicians to use genomic and other information to understand a disease based on its biological mechanisms and to precisely diagnose and develop tailored treatments.
The growth of the industry is hampered by gaps that exist between scientific discoveries and the development and commercialization of medical solutions for public benefit. The rising cost of clinical trials and a lack of collaboration among scientists, the pharmaceutical industry and investors also hinder growth.
Harvard Business School will collaborate with the Broad Institute, a pioneer in precision medicine, and others in Boston, to find ways to accelerate breakthroughs and advance commercialization of precision medicine by harnessing the energy and ideas of the medical, science and entrepreneurial communities in the city.
Myra Kraft, the wife of Robert and mother of Jonathan (MBA 1990), Daniel, Joshua (EdM 1993), and David (MBA 1999), died of ovarian cancer in 2011. Through her illness, the Kraft family came to understand firsthand the promise of precision medicine.
“At heart, many of the challenges facing the advancement of precision medicine today are business challenges,” says HBS Dean Nitin Nohria. “We are honored that the Krafts, who epitomize Harvard Business School’s mission of educating leaders who make a difference in the world, see the potential for HBS to work with world-class organizations like the Broad to develop innovative and integrative new models — from organizational structures to collaborative data centers — that will position Boston at the epicenter of this arena in the future. The endowment is a wonderful and fitting tribute to Myra Kraft, who throughout her life devoted herself to helping others.”
To learn more about this gift, and the upcoming initial research pilots designed to accelerate the discovery and trials process, please click here.