Category Archives: General
March 24, 2017
If you haven’t heard of it already, it’s time to become acquainted with TransparentCareer, the career management platform and brainchild of Chicago Booth School of Business MBAs Mitch Kirby and Kevin Marvinac. Frustrated by the lack of …
If you haven’t heard of it already, it’s time to become acquainted with TransparentCareer, the career management platform and brainchild of Chicago Booth School of Business MBAs Mitch Kirby and Kevin Marvinac.
Frustrated by the lack of relevant compensation and satisfaction data available to MBA students, they created their company in 2015 to provide both industry and company-specific info on effective hourly wage across a multitude of post-MBA roles, and took the idea through Chicago Booth’s New Venture Challenge (NVC), a top-ranked accelerator program that has helped to fund over 140 successful businesses.
On the website you’ll find out which are the best tech companies and consulting firms, the top companies ranked by women, and the top ten MBA jobs ranked by salary and satisfaction. You’ll also find data-driven career guides, company rankings, and scoring of the top MBA programs based on employment outcomes.
But that’s not all. “Since we started TransparentCareer last year, we’ve received hundreds of inquires about MBA startup compensation, equity vs. salary tradeoffs, work-life balance, and recruiting strategies,” says Marvinac.
To answer those many inquiries, look no further than their newly released MBA Startup Recruiting 101. Billed as, “Everything you’ve ever wanted to know (and probably more) about recruiting for startups and high-growth companies as an MBA,” the guide uses hard data to paint a picture of what the median opportunity for an MBA looks like.
The guide addresses common questions such as:
- What kind of startups hire MBAs?
- Where do MBAs fit within a typical startup?
- How much can a startup pay me?
- What are top MBA programs doing about the trend toward startup recruiting?
The founders share that the platform, less than two-years-old, is already used by 40% of all current US-based MBAs. This is definitely a site worth bookmarking, as the intel can greatly help those considering business school figure out just what type of salary bump they can look forward to based on the industry or company they plan to target upon graduating.
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March 23, 2017
The Stanford Graduate School of Business has named Kirsten Moss as the new Assistant Dean and Director of MBA Admissions and Financial Aid. In this role, Moss will oversee and manage Stanford GSB’s admissions and financial …
The Stanford Graduate School of Business has named Kirsten Moss as the new Assistant Dean and Director of MBA Admissions and Financial Aid. In this role, Moss will oversee and manage Stanford GSB’s admissions and financial aid team and map out a vision for reaching, recruiting and selecting top MBA candidates.
Moss previously served in several roles within the Stanford GSB MBA Admissions team, including Director of MBA Admissions and Associate Director of Evaluation. During her tenure, Moss managed the evaluation, marketing and operations teams and developed a new approach to assessing leadership capability.
Prior to joining Stanford GSB, Moss worked at Harvard Business School as Managing Director, MBA Admissions and Financial Aid. Moss has also held positions in corporate consulting and finance.
“Kirsten has deep experience in admissions and leadership talent evaluation both inside and outside Stanford GSB,” says Senior Academic Dean Yossi Feinberg, who chaired the selection process. “Throughout our search process, Kirsten demonstrated her expertise and commitment to helping Stanford GSB continue to attract and develop the future leaders of tomorrow. I have every confidence that Kirsten will continue the MBA’s strong trajectory.”
Moss succeeds Derrick Bolton, who served as Assistant Dean for MBA Admissions and Financial Aid for 15 years before accepting a new position in September 2016 as Dean of Admissions for Stanford’s Knight-Hennessy Scholars Program.
“Kirsten has a strong understanding of our school’s vision and immediately impressed us with her ideas for connecting with the next generation of students making a positive, measurable difference in the world,” says Jonathan Levin, Philip H. Knight Professor and Dean of Stanford GSB. “Kirsten brings a wealth of knowledge and experience—from top-tier MBA admissions programs to business consulting—and will provide fresh insight as we achieve new levels of excellence.”
“Stanford GSB has a rich legacy of equipping students with the tools necessary to create change—individually, within organizations and throughout the world,” says Moss. “I’m thrilled to join the team in this new capacity as we work together to cultivate the next generation of leaders poised to make an impact.”
Moss earned a Bachelor of Arts degree from Harvard University, an MBA from Harvard Business School, and is currently pursuing a Doctorate of Psychology from William James College.
Moss’s appointment will begin June 1.
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March 17, 2017
Now that most of the top business schools in the United States accept both the GMAT and GRE exam for admission, how do you decide which test you should take? Many elite schools hope to diversify their applicant …
Now that most of the top business schools in the United States accept both the GMAT and GRE exam for admission, how do you decide which test you should take? Many elite schools hope to diversify their applicant pool by accepting the GRE as an alternative in the admissions process. Another favorable aspect for business schools: it creates a more competitive enrollment rate; the number of available spots stays the same but the volume of applications goes up.
Prospective grad students of the arts and sciences have typically submitted GRE scores, so applicants deciding between business school and other graduate programs appreciate having one less test to study and pay for. Meanwhile the GMAT, long considered the gold standard for the specific academic skills needed in graduate business school, is more expensive and offered in fewer locations worldwide.
One essential difference between the tests is that the GRE requires you to do the arguing, whereas in the GMAT you analyze what has been argued. The style expected from GRE test readers is more abstract and draws from various sources and disciplines for examples or references, whereas it is more concrete and analytical for the GMAT. This supports the suitability of the GRE for the more academically-minded student.
A recent US News and World Report article weighs in with the following five factors MBA applicants should consider when choosing between the GMAT and GRE:
- Does the school have a strong preference for the GMAT?
- Are your math skills especially strong? The GMAT is generally more difficult in the quant section
- Are you a wordsmith at heart? The GRE is more challenging in verbal, particularly for non-native English speakers.
- Consider your post-MBA career goals. Some firms require applicants to submit GMAT scores.
- Test anxiety is generally lower with the GRE, which allows you to save and return to questions to check your work.
In general, top business schools will be looking for fairly high percentile scores on the GRE, especially on the quantitative section. I had one client who, while phenomenal in many ways, could not achieve a GMAT score above 600. Her quantitative percentile came in around 40—half of the target score.
Although I’ve seen applicants admitted with very low GMAT scores in the past, we decided to take advantage of this new option and submit her application to Harvard Business School with the GRE instead. Despite a lower overall performance, her GRE results boasted a much higher quant score, and in the end, she was admitted to HBS.
Ultimately though, the GMAT remains the “tried and true” entrance exam for business schools—the admissions team will have no questions about why you chose it. If you are a great test-taker and it’s all the same to you, I would stick with the GMAT.
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March 15, 2017
Harvard Business School interviews just 25% of applicants each season. On the bright side, HBS admits about half of interviewed candidates, so if you can successfully pass this hurdle in the application process, your chances …
Harvard Business School interviews just 25% of applicants each season. On the bright side, HBS admits about half of interviewed candidates, so if you can successfully pass this hurdle in the application process, your chances of admission skyrocket.
As I explained in my recent article published in Business Insider, the admissions team seeks applicants who can demonstrate that they share the values central to HBS culture: passion, self-awareness, maturity, integrity, focus on solutions, high-impact leadership, and case-method compatibility.
While you can’t predict which specific questions will come up during your interview, you can expect the types of questions to fall into three broad categories representing your past, present, and future. The interviewer will probe in great depth about your career goals, professional choices, and interest in the MBA program. He or she will be very familiar with your essays — so familiar, in fact, that your interviewer will seem determined to find a “hole” in your story.
The anecdotes you share about your past experiences — both successes and failures — will give the interviewer some insight into your self-awareness and maturity. Your story should reveal how you confront life choices, the values and principles that help you negotiate complex situations, your beliefs, and your worldview.
Expect to receive a number of questions that will help interviewers gauge how life has tested you, and how you responded to that test.
As you prepare for the interview, focus on the experiences, anecdotes, and answers that will showcase your strengths. To learn exactly how to successfully wow your interviewer for a shot of admission at this ultra-elite school, click on over to Business Insider to continue reading my article with the best HBS interview tips.
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Image credit: Flickr user Florian Pilz (CC BY 2.0)
March 14, 2017
U.S. News & World Report has released the 2018 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment. In this year’s full-time MBA rankings, …
U.S. News & World Report has released the 2018 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment.
In this year’s full-time MBA rankings, Harvard Business School and the University of Pennsylvania’s Wharton School have tied for the No. 1 program in the country. The University of Chicago Booth School of Business holds the No. 3 spot, and the Stanford Graduate School of Business drops from last year’s second place to share fourth place with MIT Sloan School of Management and Northwestern’s Kellogg School of Management.
Among part-time MBA programs, the UC Berkeley Haas School of Business once again retains the top spot, followed by Chicago’s Booth School of Business at No. 2. The NYU Stern School of Business and UCLA Anderson School of Management tie at third place.
US News’s Best Business Schools
- Harvard Business School (#1 tie)
- Wharton School (#1 tie)
- Chicago Booth School of Business (#3)
- Stanford Graduate School of Business (#4 tie)
- MIT Sloan School of Management (#4 tie)
- Kellogg School of Management (#4 tie)
- UC Berkeley Haas School of Business (#7)
- Tuck School of Business (#8)
- Columbia Business School (#9 tie)
- Yale School of Management (#9 tie)
The six graduate disciplines U.S. News ranks annually are evaluated on factors such as employment rates for graduates, starting salary and standardized test scores of newly enrolled students. Because each graduate program is different, the rankings methodology varies across disciplines.
Different output measures are available for different fields, U.S. News explains, saying that in business, they use starting salaries and the ability of new MBAs to find jobs upon graduation or three months later.
“A graduate degree can lead to professional advancement and a potential salary increase,” says Anita Narayan, managing editor of Education at U.S. News. “Whether you are interested in pursuing a full-time program or taking classes part-time, the grad school rankings and advice offer guidance on finding programs that help you fulfill your personal goals.”
March 7, 2017
This week, the University of Michigan’s Ross School of Business kicks off its annual Multidisciplinary Action Projects (MAP) program, which embeds teams of students into a company or nonprofit to enhance their leadership skills and …
This week, the University of Michigan’s Ross School of Business kicks off its annual Multidisciplinary Action Projects (MAP) program, which embeds teams of students into a company or nonprofit to enhance their leadership skills and apply concepts from the classroom to real life business challenges.
Now in its 25th year, the entire class of 400 first-year full-time MBA students will embark on a seven-week project, spending time in the field and traveling to meet with executives on-site to tackle complex problems or uncover new opportunities for their sponsor organization. MAP student teams undertake a variety of projects, including evaluating market entry opportunities, developing long-term strategic plans and analyzing branding efforts.
To celebrate this important milestone in hands-on learning, the team at Michigan Ross has come up with a list of 25 things that make the MAP course unique and impactful learning experience.
- MAP is the longest such hands-on learning program, sending our entire class of first-year MBAs out into the field for seven weeks during the winter semester.
- It’s also one of the biggest.
- This year, students will be working on 83 simultaneous projects, while working with 74 different companies and organizations.
- These projects are with some of the biggest, most influential companies on the planet(Amazon, Google, Microsoft);
- with some of the most impactful nonprofits (Make-a-Wish, CARE International, Ocean Conservancy);
- and with some of the most promising startups (Vayu, Jeevtronics, VerseAI).
- Students will work hand-in-hand with the organization’s executives, gaining firsthand insights into business operations and expanding their networks.
- Companies often implement student suggestions, giving our MBAs incredible new resume credentials.
- And setting them up for success on day one of their summer internship.
- MAP is a unique opportunity to explore the global world of business in an entirely immersive way.
- Nearly 70-percent of MAP students will be participating in a project outside of their home country this year.
- Projects are taking place in 115 cities and 25 countries around the globe.
- There will be teams of Michigan Ross MBAs on almost every continent.
- Projects are taking place in six countries in Africa (Egypt, Ghana, Kenya, Malawi, South Africa, Tanzania);
- in seven countries in Asia (Cambodia, China, India, Israel, Japan, Nepal, Vietnam);
- in four countries in Europe (Finland, Germany, Ireland, United Kingdom);
- in four countries in South America (Brazil, Chile, Costa Rica, Peru);
- and in four countries in North America (Canada, USA, Mexico, Jamaica).
- This is the first time MAP students will be working in Nepal. They will be helping a company there develop financial models that can end the use of slave labor in the brick industry.
- MAP projects give students a chance to choose which industry they want to experience.
- From finance and technology to healthcare and marketing, many students choose to work in an entirely new industry than their previous job in order to build important new skills.
- MAP has already impacted an entire generation of business leaders.
- In 25 years, 10,852 Full-Time MBA Ross students have participated in MAP.
- They’ve worked with 1,391 sponsor companies, helping them solve some of their most pressing challenges.
- And the best part is, MAP is just getting started.
Although initially associated exclusively with the Ross Full-Time MBA Program, in recent years MAP has expanded to include other Ross degree programs. Global, Weekend, Evening, and Executive MBA students participate in projects similar in scope to the Full-Time cohort.
Highlights of this year’s Full-Time MBA Ross MAP projects include:
- A project with Java House, a chain of 44 coffee shops throughout Africa, where students will be working to provide a roadmap to help the company successfully enter the Tanzanian market.
- A project with luxury brand, Shinola, where students will assist the company in developing new product categories.
- A strategy project with GE Power in India, where students will help develop a framework for bringing new products and services to emerging markets.
- Nineteen different technology projects, including one with Hotels.com, in which students will be developing a portal for sharing consumer research, and one with Microsoft, where students will investigate collaborations between universities and tech companies.
- Several healthcare projects, including one with Jeevetronics, a medical device startup in India asking students to help them bring it’s affordable, innovative hand-cranked defibrillator to new markets.
For the next seven weeks, Ross students will be sharing their experiences on Instagram using the tag #RossMAP. The school encourages anyone interested to follow along and see the MAP experience through their eyes by following @MichiganRoss.
Image credit: Michigan Ross School of Business (CC BY-NC 2.0)
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