Economist Intelligence Unit Full-Time MBA Ranking 2006

It’s a big day for releasing rankings, as the Economist Intelligence Unit has also come out with its annual ranking of MBA programs this morning.  The ranking methodology for this list considers four factors – new career opportunities, personal development/educational experience, increase in salary and networking potential – as evaluated based on data from the schools and surveys from students and recent alumni. Readers can visit the EIU site for a great interactive MBA ranking chart to see how the schools stack up in a number of different criteria, and the overall top 20 is just below:

1. IESE, University of Navarra
2. Dartmouth / Tuck
3. Stanford GSB
4. Chicago GSB
5. IMD
6. Northwestern / Kellogg
7. Harvard Business School
8. NYU / Stern
9. Michigan / Ross
10. Berkeley / Haas
11. Cambridge / Judge
12. Columbia Business School
13. UVA / Darden
14. Henley Management College
15. UCLA / Anderson
16. Instituto de Empresa
17. UPenn / Wharton
18. MIT / Sloan
19. Cranfield School of Management
20. London Business School

Though U.S. schools still dominate the list due to their sizeable endowments (which translate into more opportunities for students) and expansive networks, Barcelona-based IESE tops the ranking for the second consecutive year.  The Economist rankings have historically shaken up the generally held notions about how schools stack up (evidenced by Stern’s #8 status as compared to Wharton’s finish at #17), highlighting the importance of careful research and consideration of what one is looking for from an MBA program.

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Business Week Full-Time MBA Ranking 2006

Business Week has just published its much anticipated 2006 ranking of full-time MBA programs. The list, compiled biannually, is intended to help applicants identify viable target schools and is assembled based on surveys of students at the programs and the recruiters hiring their graduates. Extensive information about the ranking methodology and commentary on the list-topping schools are available on the BW site; but for now, let’s take a look at the results:

1. Chicago GSB
2. UPenn / Wharton
3. Northwestern / Kellogg
4. Harvard
5. Michigan / Ross
6. Stanford
7. MIT / Sloan
8. Berkeley / Haas
9. Duke / Fuqua
10. Columbia
11. Dartmouth / Tuck
12. UCLA / Anderson
13. Cornell / Johnson
14. NYU / Stern
15. UVA / Darden
16. CMU / Tepper
17. UNC / Kenan-Flagler
18. Indiana / Kelley
19. Yale SOM
20. UT Austin / McCombs

Chicago has topped the BW list for the first time in the school’s history – a development that spells great things for the program – based on students’ satisfaction with the facilities and flexible curriculum. Dethroned from the top spot, Kellogg comes in at #3 this year and Wharton, having fallen to #3 in the 2004 rankings after enjoying several consecutive years in the top slot, is back up to #2; this seems to suggest that both schools are holding their own in terms of career services and student contentment. Michigan is looking good at #5 (especially when considered in conjunction with it’s stellar showing on the WSJ list) and Duke has inched its way into the top 10, but the biggest mover is Berkeley, leaping from #17 to #8 on this year’s list.

Rankings are a great starting point for school selection, but we of course want to remind readers that there is simply no substitute for firsthand visits to the program and in-depth information when deciding on issues of fit. Best of luck to everyone entering this phase of the application process!

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Fridays from the Frontline

Another week – and what a week, with deadlines for Wharton, Harvard, Columbia, Tuck and others – has passed, and here we are at Friday, ready, as always, with a new edition of FFF for those looking to catch up on the goings on in the world of MBA blogging.

First, we want to extend our congratulations to those bloggers who pressed “submit” this week! Righty finished up with his ISB application materials and Flexible Image‘s materials are in at HBS. In light of yesterday’s data form advice, we were glad to read that Scarecrow carefully proofread his Harvard application found relief upon completing Wharton. It’s better to wait than to rush, though, a principle that RusGirl – now a Round 2 applicant – understands. She’ll be joined by B-school Diva, who’s just announced her return from reapp retirement and intent to apply to a handful of schools this winter. In other applicant news, Dharu is still narrowing down his school selection, and recounts his Haas visit and reflects on the merits of experiencing a school firsthand. Also in application advice, LBS student Karlitos took some time to reflect on what he was going through this time last year and shares some words of wisdom for applicants.

Just as applicants have been busy working toward pressing that “sumbit” button, business school students have occupied with a number of issues, but seem to be enjoying themselves on the whole. Kilgore Trout is glad for the opportunity to think about his ideal career due to an Econ prof’s unique approach at McCombs, while Le MBA has made definite plans to pursue his actual dream job after HEC and j$ has decided to accept his full time offer and enjoy his second year at Haas. Over in Palo Alto, Ash offers a comprehensive rundown of pre-term at Stanford and, to really give you the full circle picture, alumnus Marquis shares his experience returning to campus for McKinsey recruiting. On the academic side, Martha runs readers through a week of classes at LBS, while MJ is sweating statistics at Duke and BeenThereDoneThat is worried about broader performance issues and the NUS bell curve. LL updates the blogosphere on Wharton Cohort H‘s week, much of which was spent studying, and bskewl weighs in on the demise of GND and suggests that the first-year students might be too focused on their studies, citing as evidence Wharton’s being shown up by INSEAD students in a recent interactive game.

If the INSEAD bloggers are representative of the school at large, then there does seem to be a good deal going on in the social department. DomoDomo shares some party pictures and describes his classmates’ networking skills, while Hallonman highlights the international element, relating some popular weekend destinations and getting excited about Aussie-Kiwi Week. IESE students are also out and about, as Noelle shares some photos from a recent trip to the Pyrenees. Finally, lone representative of American leisure brownoski has been enjoying the fall weather and Yale’s golf course.

That’s all for this week. We hope that our superstitious readers make it through Friday the 13th unscathed, and that everyone has a wonderful weekend!

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Admissions Tip: Data Forms

As many applicants are burning the midnight oil to put the finishing touches on their applications, we wanted to offer some words of advice about an often overlooked element of one’s file that is often overlooked: the data forms themselves. Most candidates leave the forms for the last minute or rush to fill out online applications from work on Deadline Day, but the truth is that a weak effort on these forms can do serious harm to your candidacy. This being the case, here are a few tips for those who are in the midst of completing this component of the application:

1) Follow instructions. If the schools asks you to list activities in chronological order, then do not list them in order of importance to you (as you may have done for another school). If the school asks for a contact person, title or the number of hours/week, do not leave these fields blank. Attention to detail is very important; a reality that makes spell checking another important step in this process.

2) Make things clear. The last thing you want is for your reader to have to play detective in determining your career progression (like making sense of gaps in employment) or undergraduate career. Admissions officers are busy people and they don’t have time to connect the dots on your background. If your listings are not clear, the reader may assume you are hiding something – a conclusion that could seriously damage your chances. By the same token, you should avoid using jargon and be sure that all of your statements will make sense to a reader who is not familiar with your industry or function. Given the level of competition in the applicant pool, the admissions office can afford to avoid files that seem a bit confusing or difficult to follow.

3) Don’t be lazy. Since it’s likely that you’ll be ‘burned out’ from your essays, the temptation will be to zip through the application forms and provide a bare minimum of information. While it’s fine to use your resume as a starting point, make sure that you think beyond this ready-made content and consider other information that might be of interest. In many cases, the forms are a great opportunity for you to list outside activities in depth, offer a quick explanation for a bad grade, share the significance of some professional awards you’ve received, and so on. In fact, your application forms will often be the starting point for the admissions officer’s review of your file. Put your best foot forward.

4) Don’t go overboard. Admissions officers typically review several files in a sitting – devoting much less time than you might imagine to each file. With this in mind, try to avoid listing 18 activities, 22 awards and 17 publications – especially if some of those items date back to high school (or are more than 10 years old). Stay focused on the elements of your background that are most relevant. Also, when asked for a short-answer, do not draft an essay. If your admissions file is twice as thick as the rest, it will not necessarily be twice as good. Remember that the application process is an exercise in marketing, and that the schools appreciate an applicant who is discerning about what details to share and who knows how to present him or herself most effectively.

As always, best of luck to those of you who are applying!

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MBA News: B-School Buzz

Canada’s National Post just announced its second annual MBA Portfolio Management Competition. The competition pits teams of first-year MBA students from 12 Canadian Universities against each other in a “stock-picking slug-fest” that begins this month and runs through the end of March. Contestants are given $1 Million in play funds to invest on behalf of “Mrs. Oldmoney,” whose portfolio lacks exposure to the Canadian markets. Teams may invest in cash or in any stock, income trust, or preferred share traded on the Canadian exchanges, and may alter their allocations at the end of each month. At the end of the contest, the winning team will be chosen based on their ability to generate high returns with low day-to-day volatility. To follow the contest’s progress, visit www.nationalpost.com/MBA.

This week’s Financial Times includes an article based on a recent interview with INSEAD‘s new President, Frank Brown. In the interview, Mr. Brown explains his goals for his tenure at INSEAD, including learning French, promoting the MBA degree as well as the INSEAD brand, and embarking on an extensive fund-raising campaign. For more details on Mr. Brown’s plans for INSEAD and thoughts on leadership, be sure to read the full article.

Finally, it seems students at Wharton are busy analyzing the impact of the school’s decision last spring to drop their long-time policy of Grade Non-Disclosure (GND). For those unfamiliar with the term, GND refers to a policy in place at several business schools that prohibits students from disclosing their grades to recruiters and bars recruiters from asking about grades during the job search process. The Wharton administration did away with GND over the strenuous objections of the Wharton Graduate Association, but it seems the entering first-year class has voted to abide by the new policy and to encourage members of the class to share their grades with recruiters. This week’s Wharton Journal ran an extensive opinion piece on the issue, which has also been a subject of at least one student blog.

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HBS R1 Deadline Extended

Following up on this morning’s announcement of website troubles, Harvard Business School has just notified all applicants aiming for R1 submission that the deadline will be pushed back due to the temporary unavailability of information on the HBS site.

The new deadline for application materials is this Thursday, October 12th at 5pm EST.

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HBS Website Issues

Harvard Business School just notified all Round One applicants that the MBA website is down and that the school’s email server is out of commission due to a problem on the school’s campus.  Fortunately, the online application is hosted on an external site, so applicants are still able to work on and submit their materials.  For those who might not have bookmarked the app and are now unable to access it through the school’s site, the direct link is:

https://app.applyyourself.com/?id=hbs

A deadline extension might be in the works, since applicants putting the finishing touches on their essays and other materials have been cut off from a valuable source of info on the program.  Stay tuned to this blog for more details.

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Trivia Tuesday: Codes of Honor

Welcome to another edition of Trivia Tuesday, where we share school-specific details with the goal of highlighting important nuances of leading MBA programs.

Today, we’re shining the spotlight on Dartmouth/Tuck, which has one of the most-developed student-administered Honor Codes among leading MBA programs. Incoming Tuck students agree to abide by the Honor Principle, which states:

“Integrity and honesty in the performance of academic activities, both in the classroom and outside, are essential to the educational experience for which the Tuck School has always stood. Each member of the Tuck community accepts the personal responsibility to uphold and defend high ethical standards in all academic endeavors, and to promote an atmosphere in which honest and imaginative work may flourish.”

One interesting impact of the Honor Principle on academic life is that many mid-terms and finals at Tuck are unproctored or given as take-home exams – this is true even if the exam is closed-book or has a specific time limit. The trust fostered by the Honor Principle is considered an important component of the close-knit community for which Tuck is known.

For more information on Tuck’s honor code and community, check out our archived blog postings on the school, the Clear Admit School Guide to Tuck, or the Tuck website.

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Clear Admit's Upcoming Events

For those applicants who are still in the research and school selection phases of the application process, we wanted to mention that Clear Admit will be appearing at two events this week.

First up will be the Economist.com Online MBA Fair, happening tomorrow and Wednesday on the Economist site. Here’s a rundown of tomorrow’s agenda:

9:00 AM EDT TRIUM Global Executive MBA
Professor Matt Mulford, Assistant Dean of the TRIUM Global Executive MBA Program.

10:00 AM EDT Bill Ridgers: Which MBA?
Bill Ridgers, editor of “Which MBA?”, published by the Economist Intelligence Unit, discusses the latest business school rankings.

11:00 AM EDT e-learning: Perceptions & Reality
Professor of e-Learning in the Department of Computer Science at the University of Liverpool, and Director of the University’s e-Learning Unit.

12:00 AM EDT Creating a quality application
Graham Richmond, the co-founder of Clear Admit, an admissions consulting firm, discusses admissions strategies and the benefit of using a consultant.

1:00 PM EDT Getting in to a top school
Rod Garcia, the director of MBA admissions at MIT’s Sloan School of Management, talks about what it takes to get into a top-ranked school.

2:00 AM EDT Why do the MBA in Montreal?
Dr. Jerry Tomberlin, Dean of the John Molson School of Business, Concordia University, Montreal and Dr. Isabelle Dostaller, Program Director, International Aviation MBA Program, John Molson School of Business, Concordia University, Montreal.

The event is free, interested prospective applicants need only register here.

The next event will be the World MBA Tour‘s stop in France this coming Saturday, October 14th. This is a great chance for Paris-based MBA aspirants to learn about the top programs and glean some application insights from representatives at the Clear Admit table. The fair will be held at Hotel Concorde La Fayette from 2-6pm. Admission is just €5 for those who register online in advance, or €10 on the day of the event.

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Round One: A Closer Look

As many applicants are all too aware, the round one deadlines for several of the top MBA programs are close at hand. As the application submission dates close in, many find themselves wondering about precisely when their materials are due. While we certainly do not recommend taking things right down to the wire (especially since the online application systems are often sluggish due to high volume), here’s a quick rundown of the exact deadlines coming up over the next few weeks:

Monday, October 9th
- Cornell/Johnson: all materials must be received by the admissions office on this day*

Wednesday, October 11th
- Columbia ED and J-term: all materials must be submitted by 12:00am EST**
- Harvard: all materials must be submitted by 5:00pm EST

Thursday, October 12th
- Tuck ED: all materials must be submitted by 5:00pm EST
- Wharton: all materials must be submitted by 5:00pm EST

Wednesday, October 18th
- Chicago GSB: all materials must be submitted by 5:00pm CST
- INSEAD: all materials must be submitted by 12:00am EST

Thursday, October 19th
- Darden ED: all materials must be submitted by 11:59pm EST

Friday, October 20th
- LBS: all materials must be submitted by 5pm (London Time)
- Kellogg: online materials should be submitted by 11:59pm CST, hard copy materials should be received at the Office of Admissions by 5:00pm.

Wednesday, October 25th
- UCLA: complete application must be submitted online by 11:59pm PST or postmarked (not faxed) by this date.
- Stanford: all materials must be submitted by 5:00pm PST
- Yale SOM: all materials must be submitted by 5:00pm EST

* For schools that claim that all materials must be received “on the deadline date,” our assumption is that applicants can submit their online application up until 11:59pm that day.

** For schools claiming midnight deadlines on an appointed date, this equates to 11:59pm that day or 12:00am on the next.

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Admissions Tip: Take a Break

While this isn’t quite a full-fledged admissions tip, we wanted to take a moment this afternoon to remind those applicants who are feverishly working toward the upcoming R1 deadlines that sometimes the most productive thing you can do is to take a step back and focus on something else for a little while. When you’ve hit an impasse with an essay or have spent so much time scouring a school’s website that you can’t see straight, even a fifteen minute vacation from the admissions process can work wonders.

Here’s a piece of MBA humor that we at Clear Admit headquarters have been enjoying during our own breaks: a “Wedding Crashers” spoof about uninvited Admit Weekend attendees created by Stanford GSB students!  We hope this will provide applicants with some laughs, relieve some stress, and highlight the fact that while the application process and school itself are a good deal of work, there’s some fun ahead as well.  Good luck!

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Fridays from the Frontlines

We’re taking a break from pre-round-one-deadline craziness to bring you another edition of FFF, catching you up on all of the week’s happenings in the MBA blogosphere.

It’s been a quiet week for applicants, which isn’t suprising given the swiftly approaching Round 1 deadlines, but a few checked in to share their progress. StressTensor is working on Stanford, MIT and Michigan applications and wishing for “clear minded, yawnless, fully-awake time” to edit essays (a sentiment shared by many applicants!). Suser McLoser shares her realization (with visuals) that “wow, writing is hard” and B-School Diva is starting to have second thoughts about her decision to wait a year to reapply. Meanwhile, several bloggers are celebrating completed applications. ScareCrow submitted Cornell’s application this week, and should have Harvard’s, Wharton’s, Kellogg’s and Chicago’s submitted shortly while Juggler lost her fear of the submit button and sent in the applications for Kellogg, Chicago, Harvard and Wharton, leaving her free to focus on Stanford’s essays. Congratulations!

Our first-year bloggers have been busy this week, updating us on the classes and mid-terms – and happy hours, of course! On the academic front, UCLADawg reports on his first meeting with his Anderson study group, Kilgore Trout is enjoying his experiences at McCombs, especially the fact that professors are actually excited by office hour visits, and Angel Angie and Ashwyn share their first impressions of core courses at LBS and at IESE (respectively). While many first-years are just getting started, some are already tackling mid-term and projects. AxeChick checks in from Columbia to discuss mid-terms, grading philosophy and the surprising realization that the GMAT IS important. Hallonman shares the details of several game theory competitions involving INSEAD-Fontainebleau, INSEAD-Singapore and Wharton students, and after only a few weeks on campus, DomoDomo reports that it’s already time for INSEAD students to decide which academic period to spend on an exchange with the other INSEAD campus (or with Wharton). As for the social scene, never fear that exams or problem sets will keep our intrepid first-years from exploring the full business school experience. Though DomoDomo and MGALBLUE both had to buckle down for recent mid-terms, they report that the INSEAD house parties and Ross theme parties are in full swing, while rsr.pt is thankful that the Happy Hours at LBS are only two hours long. Meanwhile, from northern New Hampshire, Benny reports that the famed New England foliage is in full color and that Tuck’s campus looks beautiful.

Second year students have also been busy, though several wrote to express their happiness at having some control over their course schedules this year. NoellieBellie shares her excitement over her electives at IESE, and celebrates having the time to take a nap after a busy class. In other sleep news, though things at Chicago are “overscheduled,” The Dirty Canuck still reports being able to grab a solid 6 hours of sleep each night (despite eating expired dairy products). In Ann Arbor, Nate wonders why people say the second year is the time to coast, since he hasn’t seen any let up in Ross’s academics. Jerry Blank agrees, reporting that the second year at Yale’s SOM is just as demanding as the first. The New York City exchange student contingent weighed in this week, too, with George offering a review of his Columbia classes, The Divine Miss N sharing her tales of her surprisingly painful exercise classes at Stern, and Natasja tells of the adjustment from London to New York and LBS to NYU/Stern.

That’s all for this week! Good luck to all of our readers how are busily preparing Round 1 applications!

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Cornell / Johnson Essay Topic Analysis 2006-2007

With the first of Cornell’s four deadlines coming up next Monday, we wanted to take some time today to offer our thoughts on that school’s application essays.

The format of the school’s questions, with just two pointed inquiries of just 400 words each, make this one of the shorter – and more challenging – of the top programs’ applications. The relatively short format might be a welcome change for those applicants who have become accustomed to composing 4-6 essays per school, but also makes it significantly harder to present a comprehensive and truly rounded picture of one’s candidacy. It is therefore important to approach these essays carefully and arrive at topics that are truly representative of your most important qualities.

Essay 1: Describe your greatest professional achievement and how you were able to add value to your organization (400 words).
This is your fairly standard workplace achievement question. When selecting a topic, make sure that you are choosing a story that highlights your interpersonal skills and ability to work with others in addition to your capacity to affect positive change. Keep in mind that there are two main points you’ll need to cover: the impact you made on your organization, and the process by which you brought this about. It’s important that you provide quantifiable details and present the reader with a before and after picture in order to really illustrate the significance of your contribution. In addition to this, you’ll want to explain the thought process behind your approach and the steps you followed, as the explanation of your reasoning is really what’s going to show the adcom that you possess the skills and knowledge that would enable you to replicate this level of impact in another job and make a valuable contribution to the business school itself.

Essay 2: What career do you plan to pursue upon completing the MBA and why? How will the Johnson School help you achieve this goal? (400 words)
This typical career goals essay requests that you articulate your professional objectives and reasons for your interest in the school, and poses the added challenge of doing so in 400 words. Economy of language will be key here, as you’ll need to provide a very brief overview of your career to date in addition to the requested information, as this will hopefully establish a basis for your goals and demonstrate that you would bring a valuable perspective to the MBA classroom. There won’t be any room for a discussion of the general merits of a business education here – it will be crucial to include a significant amount of school-specific information to prove that you’ve done your homework on Cornell and are sincerely interested in the program.

Optional Essay: Complete this essay if there is other information you would like to add regarding your candidacy. For instance, if you believe one or more aspects of your application (e.g., undergraduate GPA or test scores) do(es) not accurately reflect your potential for success at the Johnson School (400 words).
This essay is set up as a place to address extenuating circumstances or issues with your application, but you might also consider including a brief comment on an important activity outside of work and suggesting that you would be an active member of the student community.

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MBA News: B-School Buzz

This has been a busy week at Tuck, with the launch of the new Back in Business program and the advent of the annual Women in Business Conference. Back in Business is designed for professionals with MBAs (or “MBA-level experience”) who are seeking a condensed update and refresher on management and leadership skills in order to re-enter the workforce. The program will be held on Tuck’s campus in Hanover, NH and taught by members of Tuck’s faculty. Meanwhile, the second annual Women in Business Conference promises to be an exciting event. This student-run gathering brings together women of all ages and stages to build the skills and relationships needed to create successful lives and careers. For more information on the event’s programming, visit the WiB Conference website.

In other school news, Hispanic Business recently released their rankings of the Top 10 MBA Schools for Hispanics. Although there are a lot of familiar faces in the top spots, a few less-well-known business schools also feature prominently. Leading the list are Stanford, UC-Berkeley/Haas and Dartmouth/Tuck, with UT-Austin/McCombs, NYU/Stern, Yale SOM, the University of Miami, Duke/Fuqua, Columbia, and Florida International University/Chapman rounding out the top 10. While the article does not go into detail on the methodology used to create the rankings, it does include overviews of each program that highlight the schools’ resources and their commitment to developing communities of Hispanic MBA students and alumni.

Finally, for those who just can’t get enough of Harvard, there is 02138, a new magazine celebrating “The World of Harvard.” The inaugural edition features a list of Harvard’s 100 most influential alumni, who include Harvard Business School alumni such as President George H.W. Bush, GE Chairman and CEO Jeffrey R. Immelt, eBay President and CEO Meg Whitman, and high-tech venture capitalist L. John Doerr III. Free registration is required to view the full list, which reads as a veritable who’s who of the business and political worlds.

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