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APPLICANT RESOURCES
Admissions Director Q&A Clear Admit School Guides Clear Admit Career Guides Clear Admit Strategy Series Clear Admit Interview Guides Below are the upcoming deadlines for admission to top-tier schools. Feb 10: INSEAD R3 Mar 1: Michigan / Ross R3 Mar 3: CBS Mar 3: LBS R3 Mar 4: Kellogg R3 Mar 8: Cambridge / Judge R4 Mar 8: CMU / Tepper R3 Mar 9: Duke / Fuqua R3 Mar 9: Penn / Wharton R3 Mar 10: Berkeley / Hass R4 Mar 10: Chicago Booth R3 Mar 10: Yale SOM R3 Mar 15: NYU / Stern R3 Mar 17: UCLA / Anderson R3 Mar 19: UNC / Kenan-Flagler R4 Mar 30: Cornell / Johnson R4 Mar 31: UVA / Darden R3 Mar 31: INSEAD R4 Apr 1: UT-Austin / McCombs Apr 2: Dartmouth / Tuck R3 Apr 2: Oxford / Saїd R3 Apr 7: Stanford GSB R4 Apr 8: Harvard R3 Apr 14: CBS Essay Topic Analysis Use categories to access all that has been written on each of the topics. We have categorized by school and by subject matter.
Interview Reports MBA.com Manhattan GMAT GMAT Club Princeton Review Test Prep New York Kaplan Beat The GMAT Knewton Writing Resources Guide to Grammar and Writing The Internet Grammar of English English Usage, Style and Composition The Economist Style Guide Paradigm Online Writing Assistant School Rankings The following resources should be useful to those who want to research the careers open to them after (or before) earning an MBA. Vault.com Wetfeet
Business School Resources
If an MBA Program is not listed, please e-mail and we will be happy to list it. Berkeley / Haas Boston College / Carroll Carnegie Mellon / Tepper Chicago Columbia Concordia Cornell / Johnson Dartmouth / Tuck Duke / Fuqua Emory / Goizueta Harvard HEC Montreal Indiana / Kelley Michigan MIT / Sloan Northwestern / Kellogg New York / Stern North Carolina / Kenan Flagler Notre Dame / Mendoza Pennsylvania / Wharton Queens Stanford Syracuse / Whitman Texas / McCombs Thunderbird Toronto USC / Marshall UCLA / Anderson Vanderbilt / Owen Virginia / Darden Washington University in St. Louis / Olin Western Ontario / Ivey Yale MBA Programs: Rest of the World As there is some variety in the length of international MBA programs, we have denoted the length of the program next to its name (1 = one year; 2 = 2 years). If an MBA Program is not listed, please e-mail and we will be happy to list it. AGSM (Australia) 2 Cambridge / Judge (UK) 1 CIEBS (China) 2 Cheung Kong Graduate School of Business (China) 1 Cranfield School of Mgmt (UK) 1 ESADE (Spain) 1 or 2 HEC (France) 2 Hult (UK) 1 IESE (Spain) 2 IMD (Switzerland) 1 INCAE (Costa Rica) 2 INSEAD (France) 1 IPADE (Mexico) ISB (India) 1 London Business School (UK) 2 Manchester Bus. School (UK) 2 Melbourne (Australia) 2 Oxford / Said (UK) 1 Rotterdam (Netherlands) 1 Tsinghua IMBA (China) 2 University of St. Gallen (Switzerland) 1 Additional Resources Here we link a host of additional resources available across the web. E-mail info@clearadmit.com to have resources added to this list. AACSB International Association of MBAs Beyond Grey Pinstripes EFMD gradschools.com (worldwide) Infozee International Student Loans mba.com (GMAT Scores) MBAInfo mbaleague.blogspot.com MBAzone MBA Jungle TOEFL Top MBA MBA Tipline We encourage admissions officers, students and applicants to alert us of interesting news and developments, please send an email to news@clearadmit.com so we can blog it. Blog Archive
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Get a $10 Amazon.com Gift Card! Contribute your MBA interview reports to the Clear Admit Wiki. Taking the GMAT? Download our free, independent guide to the leading test prep companies - includes coupons for savings at 10 leading test prep firms! ARCHIVE FOR MAY 2008 Friday, May 30, 2008 Spain’s IESE Business School Launches Pre-Admission Program for University Students IESE Business School in Barcelona, Spain, recently launched a new initiative designed to attract university students at the beginning of their careers. As with Harvard Business School’s 2+2 program, students pre-admitted to the new Youth Talent Program (YTP) will have a spot reserved for them in the IESE class after they have completed two years’ work experience at a participating firm. IESE developed the program in an effort to attract junior- and senior-year university students at the world’s top universities. Students are invited to apply for YTP after completion of their basic university degree. If chosen for pre-admission to IESE, they are then presented to top companies for recruitment opportunities. Official admission to the YTP program is awarded once a candidate has been offered a contract with a participating firm. Before beginning the workforce component of the program, participants spend the summer following their senior year at IESE for a Next Steps Workshop. Upon completion of the workshop, they then report to work. After fulfilling their two-year contract with their firm, they return to Barcelona for the IESE MBA. Upon graduation, students once again return to their participating firm to put their knowledge to work. Many of the world’s leading corporations have agreed to participate in YTP. Among the firms taking part are McKinsey & Co., Johnson and Johnson, the Boston Consulting Group, Merck Sharp & Dohme, Novartis, BBVA, Santander and CEMEX. To learn more about the new YTP program at IESE, click here.
Fridays From the Frontline Welcome back to Fridays From the Frontline, Clear Admit’s regular synthesis of the week’s blogging reactions. With summer rolling in, bloggers were on the quiet side this week, although those who did post had more than enough to report. Let’s hear the notable news from them… JulyDream had a high time in the mile high city, where she packed in several memorable reunions, a fair share of partying offset by ample relaxation, and a 10k race in Boulder to boot! Using time wisely was also a priority for Ameya, who was aided in her efforts by Carnegie Mellon University Professor Randy Pausch’s time management lectures, via Youtube. Speaking of efficiency, Hectic1015 managed to find both an internship (at the United States Green Building Council) and a scholarship (for next year at INSEAD) all at once! Meanwhile, Power Leveler prepared for INSEAD’s finance, accounting and economics curriculum the economical way – as opposed to the school sanctioned way: a weeklong, 1500 Euro Business Foundations course. First-year Iday commemorated his Chicago GSB MBA’s half-birthday this week, which fortuitously coincided with the culmination of his best-performing quarter yet (although he notes the grades to prove that aren’t yet out!). No matter – there’s nothing like jumping out of a plane at 13,000 feet to celebrate forgone conclusions! HairTwirler, who prefers to get her thrills via cable TV, was feeling similarly reflective about the halfway point at Georgetown; she offered up an honest address on the state of her first year in the nation’s capitol. Nose still to the grindstone in Fontainebleau, Necromonger took a moment to write up his INSEAD consulting interview experiences, replete with takeaway tips, and of course, a cartoon! In second-year news, Angie capped off her London Business School adventure with an unforgettable trip to Israel, kindly organized by her classmates, and posted a photo diary to prove it. Ash, on the other hand, wasn’t quite ready to close the book on his MBA experience: he dedicated himself to distilling the essentials of his corporate finance class at the Stanford GSB for the benefit of future students. Mbagladiator can certainly relate. He found himself “in denial, anxious, and in utter disbelief” about the rapidly approaching end of his Yale SOM career, although Tony Blair’s resonant comments on parenting at Yale’s Class Day festivities helped alleviate some of the sting. Last but not least, Stern’s Rubeo Boy reaped his first job offer this week – an action-packed role in the sports sector, although he laments that the salary is far from a professional athlete’s. So that sums up this installation of our Friday feature! Join us next time for the latest and greatest news in the MBA blogosphere from FFF!
Thursday, May 29, 2008 UVA’s Darden School of Business Names New Diversity Chief Robert Bruner, dean of the University of Virginia’s Darden School of Business, this week named Professor Martin Davidson to serve as the school’s next associate dean for diversity and chief diversity officer (CDO). Davidson, who will assume the new role on July 1, replaces Professor Erika James, who has held the position since it was created three years ago and has reached the regular end of her appointment. An internationally recognized though leader in the area of diversity in organizations, Davidson has long been focused in his research, teaching and consulting on looking at how leaders can use diversity strategies to create competitive advantages. In addition to teaching in each the Darden MBA and Executive Education programs, Davidson also consults with Fortune 100 companies, government and nonprofits. “As associate dean and CDO, Martin will work to position the Darden School to be preeminent among business schools in its capability to leverage differences in all its facets,” Bruner said in a statement. In his role, Davidson will serve as chief strategist and advisor to Davidson on all the school’s diversity strategies and programs. Davidson came to Darden in 1998 from the Tuck School of Business at Dartmouth College, where he had previously been a professor.
Admissions Tip: Going Beyond School Websites In keeping with the recent Admissions Tips we have posted for the new crop of applicants to the Class of 2011, today we want to offer some tips on engaging the community of one’s target programs. Communicating with b-school insiders can be beneficial for a number of reasons; in addition to learning about a given school and your potential fit, you’ll also generate material for your essays, demonstrate your interest in the program, and perhaps even make an ally or two. In your efforts to go beyond the schools’ websites and promotional materials, we recommend reaching out to individuals in a few key groups: Current Students - People who are currently enrolled in a given program can obviously provide the clearest picture of the present state of the school community. They are often more capable of evoking their school’s overall culture than brochures put out by the admissions offices, and can describe to prospective students the ins and outs of academic and extracurricular options. In addition to reaching out to friends and acquaintances who are studying at a given school, it’s also wise to get in touch with the leaders of clubs and programs in which you are interested (their contact information is generally available through the website). This will help you to understand the impact you could make while on campus and provide a sounding board for the ideas you plan to share with a certain student group or organization. Alumni - While students offer a great view of the program itself, a school’s alumni can often provide the best perspective on just how far an MBA from a given program can get you in a certain field. Meeting with alumni working in your target post-MBA industry (tracking them down either through your own network or school-sponsored events) may help you anticipate the program’s strengths and weaknesses in setting you on the right professional course. You might also gain some valuable insight that will help you to refine your career goals and better understand what short-term position would best prepare you for your long-term plan. Faculty - The professors at business school tend to be a bit less accessible than students and alumni, but if you’ve identified someone whose research interests you or sat in on a class that you found particularly intriguing, there’s no harm in sending a note to let the faculty member know that you find his or her work appealing and would like to speak if possible. The individuals responsible for designing and teaching the curriculum can offer great insight into the specific skills and lessons you would learn from one class to the next, and help you to refine your understanding of the ways that an MBA would bridge the gap between your current skills and those you will need to achieve your goals. Aspirants to the Class of 2011 should consider each of these options in the months ahead. Not only are many individuals quite pleased to discuss their experiences with prospective students, admissions committees also like thoroughly informed applicants (of course in all cases, patience and manners are of great importance). For more tailored guidance on what sort of programs you might consider, feel free to contact us for a free initial consultation or consider reading the Clear Admit School Guides.
Wednesday, May 28, 2008 Business School Grads Set Their Sights on Google Type “most desirable workplace for MBA grads” into Google and what do you get? Funnily enough, you get Google. That’s right. Results from a recent survey compiled by Fortune.com and research firm Universum Communications revealed that nearly a quarter of business school graduates respondents named Google as the company they would most like to work for. Google, which topped the list for the second year in a row, expanded its lead in 2008. This year, nearly 24 percent of survey respondents said that a position at the Mountain View, Calif.-based internet company would constitute their dream job, up from 20 percent in last year’s survey. Consulting firm McKinsey and Company, which held the top spot before Google usurped it, came in a distant second this year, with only 16 percent of respondents naming it as one if their five favorites. As far as investment banks were concerned, not surprisingly, those that have best charted the subprime mortgage storm rank highest in MBA graduate appeal. Goldman Sachs came in third overall, the same spot it held in 2007. JPMorgan Chase shot up 11 spots from last year to No. 10, powering past Morgan Stanley (No. 15), Lehman Brothers (No. 16) and Merrill Lynch (No. 18) along the way. Other banks, though, fell through the ranks. Citigroup slipped 10 slots to No. 21, and Bank of America fell 14 slots to No. 24. Even so, consulting firms and investment banks remained popular overall. According to the 2008 survey results, 20 percent of graduates are seeking positions in consulting, and 19 percent say they want to work for an investment bank. The survey, conducted annually, this year polled 5,769 students at 52 business schools. Survey responses were used to rank the top 100 companies business school graduates would like to work for. For a full list of all 100 companies, click here. So, what’s Google’s allure? According to Claudia Tattanelli, CEO of Universum North America, it’s simple: The internet giant has become “a worldwide name, it is global, and it recruits only the best,” she told Fortune. The employee perks aren’t bad either. As if having time to work on independent projects and talks with visiting authors weren’t enough, at Google, there is such a thing as a free lunch. And it’s gourmet, at that. “They are famous for keeping employees happy,” concluded Tattanelli. To read more on the Fortune.com ranking of most desirable employers among MBA grads, click here.
GMAT Strategies for the Math-Challenged Geometry, algebra, prime numbers, factoring equations – nervous yet? Since the math section of the GMAT may wet some brows and dry some mouths, we’d like to share some strategic math tips from our friends at Manhattan GMAT in order to calm some nerves. Go Proudly Back to the Basics So return to first principles: arithmetic of whole numbers, positives and negatives, simple fractions and decimals. Multiplication tables and square roots. Get the facts, the processes, and the understanding down pat for those early topics, and build upwards from there. Believe it or not, many GMAT problems assume that you’ve internalized various mathematical facts, and without them at your mental fingertips, things will be harder and slower than you’d like. Quick, what’s 11 x 11? 9 x 7? The square root of 225? If this sort of question has you scratching your head or reaching for a calculator, you should prepare yourself for a trip back to rebuild the fundamentals (no, calculators are NOT allowed on the GMAT!). Similarly, there are many mechanical operations that you’re going to have down pat too. What’s ½ + 5/6? 0.001 x 5,260? How about x squared raised to the 3rd power? The GMAT is going to assume that you can quickly and seamlessly perform certain operations to solve problems. For most people, it takes a little (or a lot of) practice to get your math ‘muscles’ back. So, if you didn’t like algebra the first time around, now’s your chance to master it again! Ask Yourself the Polya Question Polya recommends that on every problem, you ask yourself these simple, killer questions: You’ll be amazed at the progress you can make, once you’ve built the habit of asking these questions every time. And who knows – you may even forget that you “dislike” solving math problems. Review + Redo Every Problem Master the Multiple Approaches to a Problem For instance, you can solve many number-properties problems either by plugging numbers or by applying rules. Each method has its advantages. The key is to know both methods well – so that they reinforce each other and so that you can switch between them easily. Be Honest with Yourself, but Dont’ Stop Believing! You CAN do well on GMAT math, as long as you’re prepared to spend enough time and concentrated energy to build up the basics and dig deeply into problems until you know them cold. You are indeed smarter than your 14-year old self! Our thanks again to Manhattan GMAT for sharing their expertise about this exam! Stay tuned for sample problems and more GMAT tips!
Tuesday, May 27, 2008 Harvard, Kellogg, Stanford Profs Top Wall Street Journal Management Guru List Three Harvard professors found spots in the Wall Street Journal’s 2008 Top 20 Gurus Ranking, released earlier this month. Joined them were a smattering of other professors, including one from Kellogg and two from Stanford, as well as a collection of CEOs, journalists, and consultants. The highest ranked professor this year is Howard Gardner, a Harvard professor, though not at Harvard Business School. Ranked number five, Gardner, a professor of education at Harvard, is best known for his theory of multiple intelligences. “Human cognitive competence is better described as a set of abilities, talents and mental skills, which I call intelligences,” he writes. Coming in at number six is Kellogg professor Philip Kotler. In his teaching over the past 40 years, Kotler has helped place marketing at the core of business education. His book, Marketing Management: Analysis, Planning, Implementation, and Control, remains the most popular marketing textbook in business classrooms around the world, according to a release on the Kellogg website. Next up, Stanford Professor Jeffrey Pfeffer comes in at number 11. The Thomas D. Dee II Professor of Organizational Behavior at Stanford Graduate School of Business, Pfeffer currently teaches courses on human resource management, knowing versus doing and the very popular “Paths to Power.” Other Harvard professors in the top 20 include Michael Porter and Clayton Christensen. Porter, who topped the Journal’s ranking in 2003, slipped to number 14 this year. In response, Porter pointed out that his most recent book was on healthcare, not management. “I feel like my recent work continues to have an impact in my various fields,” he told the Journal. Cristensen, who ranked 17th, is the Robert and Jane Cizik Professor of Business Administration at the Harvard Business School and holds a joint appointment in the Technology & Operations Management and General Management faculty groups. He is best known for his study of innovation in commercial enterprises. His first book, the Innovator’s Dilemma, articulated his theory of disruptive technology. Former Stanford professor and Nobel Laureate Myron Scholes came in at number 20. Scholes, the Frank E. Buck Professor of Finance Emeritus at Stanford until he retired in 1996, won the Nobel Prize in Economics in 1997 for his method for determining derivatives. Referred to as the Black-Scholes model, it provides the fundamental conceptual framework for valuing options and has become the standard in financial markets globally. The Wall Street Journal ranking of influential business thinkers is compiled by Thomas H. Davenport, a management professor at Babson College, and H. James Wilson, a senior researcher at Babson’s executive research centers. It is based on Google hits, media mentions in LexisNexis and academic citations for 110 business “gurus” who ranked high in the 2003 survey, also conducted by Davenport, or who have since won a significant following. To read more about the rankings, click here.
Trivia Tuesday: Global Management at the Stanford GSB Welcome back to Trivia Tuesday! As our regular readers know, Trivia Tuesday is our weekly examination of the programs and policies, details and distinctions of the leading business schools. Today we turn our attention to Stanford’s Certificate in Global Management, a specialized program that supplements the traditional MBA curriculum. Established by students and faculty in 1994, the Global Management Program (GMP) is the student-facing arm of the Center for Global Business and the Economy. Complementing the faculty research that the center facilitates, the GMP offers both academic and experiential opportunities for students interested in global management. As part of the GMP’s offerings, Stanford MBA students have the option to pursue a Certificate in Global Management, which among other benefits, serves as a signal to employers that the student studied business issues spanning geographies and cultures. To earn the certificate, students must enroll in the course “International Business” and complete 16 additional credits (usually equivalent to four courses) that have a global focus. To fulfill these elective requirements, students may choose from among 30 or so courses across the full range of GSB disciplines, as well as from Stanford University courses in history, foreign language and international culture. About 30% of recent GSB students pursued the certificate, reflecting the global focus of the school and student body. For more information on Stanford’s specialized academic programs, be sure to check out the school’s website, and the Clear Admit School Guide to Stanford!
Friday, May 23, 2008 Upcoming Info Sessions Introduce International Students to INSEAD’s One-Year Accelerated MBA Program INSEAD, which pioneered the one-year accelerated MBA program almost 50 years ago, now draws 900 students from more than 150 countries to its campuses in Fontainebleau, France, and Singapore. In an effort to maintain its international focus – and recognizing that not all prospective applicants will be able to visit the school prior to applying – the school will host several upcoming information sessions at locations throughout Europe. Four sessions are scheduled for next week, two in London, one in Lisbon and one in Paris. The London events, which will take place on May 25, include both a women’s brunch/panel discussion/MBA information session and a Master Class & MBA/EMBA information session. The Lisbon and Paris events, scheduled for May 28, are both general MBA information sessions. Additional events will be held in June in Moscow, Munich and Athens. Though none are currently scheduled, information sessions in other parts of the world may be added throughout the year. For a calendar of all scheduled events, please click here. For prospective students who can travel to INSEAD’s campuses, open houses are scheduled in each Fontainebleau and Singapore on June 13. Advance registration is required for all events. To register, click here.
Fridays From the Frontline Welcome to Fridays From the Frontline, Clear Admit’s record of the week’s most significant MBA blogging activity. Current students certainly spiked our b-school radar in the last seven days, with a string of memorable goodbyes, some for the summer and others for good. Many applicants also transmitted a loud and clear farewell – to their applicant blogging peers, their pre-MBA employers and likely a good deal of their possessions, to boot. Others found comfort where they were. Let’s hear about it from them… Vidiviciveni bid farewell to the applicant blogging world this week, promising to reconnect as a student blogger at London Business School this fall. On the other hand, Mike was just getting ready for another go-around, eyeing Harvard’s precocious essay release as he made the transition from applicant to reapplicant. Tinydancer was also scoping out similar surroundings, moving into Philadelphia proper to attend Wharton, after years of living in the nearby suburbs; she soon realized that despite its many pros, city living does not cater to the full-wardrobed – or to those full of any kind of possessions, for that matter. Wrapping up four years on the job, JulyDream finally basked in a break from work, and yet with all the other activities she has to attend to – from soccer in Vegas to fashion shows and dinner dates – it’s proving to be break from the ordinary that hardly feels like a break. First-years were also keeping busy. GSB Sutras offered a thoughtful and thorough synthesis of Chicago’s fourth annual TATA India Business Conference – a must for anyone who regretted missing the event. In Singapore, Necromonger responded to the recent host of his readers who’ve pitted the Hong Kong University of Science and Technology’s MBA against INSEAD’s by letting the numbers speak for themselves. On a more relaxed note, Anand returned to Barcelona without the formal backing of the Darden course (the spring break Global Business Experience) that first brought him there and headed straight for the beach! Meanwhile, in an uncharacteristically emotional post, CS@HBS explained that while her first year at Harvard Business School may not quite have been the best year of her life, thanks to her section mates, it has been one of the most meaningful and memorable. Maybe MBA weighed in with considerably less celebration, lamenting that mothering a child this quarter has left her feeling a “fraction of her former self” – at least in terms of how much time she has to devote to her coursework at the Chicago GSB. Out of the proverbial forest of assignments at long last, second-year bloggers were more upbeat. La Laudiaria waved goodbye to Wharton and Lauder, recounting a graduation day made extra memorable by both planned and unplanned outbursts, while Rubeo Boy described his Stern graduation at Radio City Music Hall as similarly twofold: it was both the culmination of a dream and an American dream dashed – that latter in that no one tossed up their caps at the end of the ceremony like in the movies! To cap it off, John shared some heartwarming pics of the CBS class of 2008 on their graduation day (in which all caps appear firmly atop heads or in hands!). And that about finishes off this week’s line-up… Don’t forget to tune in next week for the latest MBA blogging updates from FFF!
Thursday, May 22, 2008 Record Application Season for Cornell’s Johnson School of Business The most recent numbers from the Johnson School’s Office of Admissions and Financial Aid reveal a notable increase in application volume for its two-year MBA program as well as increasing yield in terms of admitted students who accept. Johnson received 2662 applications from prospective students vying for a spot in the 2010 class, up 22 percent from last year, according to Randall Sawyer, director of admissions and financial aid. As of early May, 286 admitted students made deposits to secure their spots in next year’s entering class, representing a 20 percent increase in yield over last year. The school’s Accelerated MBA program showed even more significant growth. With 60 deposits received from admitted students, the yield for that program this year is 68 percent. “Build a Better Applicant Pool, Build a Better Class” The push seems to be working. Applications last year were up 27 percent, and this year they’re up 24 percent across the board. “We’re getting more exposure, and our message is resonating with more candidates,” Sawyer said. Citing applicant feedback, Sawyer believes that Johnson has effectively differentiated itself from other schools by remaining focused on the value of its immersion program. This unique program features an intense, hands-on semester of integrated course and field work in a specific industry. “That sustainability continues to be an interest mentioned in applications,” he said. The school’s successful completion of its search for a new dean has also energized applicants, Sawyer said. Record Number of Women Headed to Johnson Next Year “Women are a channel strategy,” said Sawyer. Several key women on the admissions staff work particularly hard to attract and retain more women, he continued. “Our students also play a crucial role in attracting and recruiting more female students; they regularly interact with prospective students,” he said. Alumni, too, have lent their voice to the application drive, talking up Johnson among family and friends, according to Sawyer. “We’ve had a great year, I’m very pleased,” Sawyer concluded.
Workbook Wednesdays: Answer As promised, below is the answer to our weekly Challenge Problem. Enjoy! Question One smurf and one elf can build a treehouse together in two hours, but the smurf would need the help of two fairies in order to complete the same job in the same amount of time. If one elf and one fairy worked together, it would take them four hours to build the treehouse. Assuming that work rates for smurfs, elves, and fairies remain constant, how many hours would it take one smurf, one elf, and one fairy, working together, to build the treehouse? Answer The combined rate of individuals working together is equal to the sum of all the individual working rates. Let s = rate of a smurf, e = rate of an elf, and f = rate of a fairy. A rate is expressed in terms of treehouses/hour. So for instance, the first equation below says that a smurf and an elf working together can build 1 treehouse per 2 hours, for a rate of 1/2 treehouse per hour. The three equations can be combined by solving the first one for s in terms of e, and the third equation for f in terms of e, and then by substituting both new equations into the middle equation. Now, we simply solve equation 2 for e: Once we know e, we can solve for s and f: We add up their individual rates to get a combined rate: Remembering that a rate is expressed in terms of treehouses/hour, this indicates that a smurf, an elf, and a fairy, working together, can produce 7 treehouses per 12 hours. Since we want to know the number of hours per treehouse, we must take the reciprocal of the rate. Therefore we conclude that it takes them 12 hours per 7 treehouses, which is equivalent to 12/7 of an hour per treehouse. The correct answer is D.
Admissions Tip: Approaching the Career Goals Essay With essay questions for the coming year already starting to be released by some schools, there are applicants who are eager to get started on their written applications. Though essay questions tend to vary year to year, the two things that nearly every prospective student can count on being asked are “What are your short-term and long-term post-MBA goals?” and “How will Business School X help you achieve these goals?” These are the fundamental questions of the entire application process; identifying clear answers will help in everything from creating a list of target schools to communicating effectively with recommenders and interviewers down the line. As such, it’s a great idea to begin drafting answers to the Career Goals essay early and often! To help you get started, here are some general pointers: Whether the essay is 1,000 or 500 words long, the adcom looks for applicants who offer fully defined long- and short-term career goals, sound reasons for pursuing an MBA at this point in their careers, well-informed interest in School X and specific plans to contribute to the campus community if they are admitted. The key to successfully tackling each of these components is specificity. In presenting future goals and explaining one’s motivation for seeking an MBA, it is crucial to present well-defined and feasible objectives. Unlike the undergraduate experience at many American colleges and universities, MBA adcoms believe that students need a fair amount of direction at the time they enter the program in order to take the right classes, join the appropriate clubs and seek the best internship. Everything is oriented towards preparing for the post-MBA job, so specifying a specific industry and function for the short-term is of the utmost importance. In addition to identifying goals for the adcom, it is also important that applicants explain their interest in their particular plans. Along the same lines, applicants should comment on what they hope to accomplish in their target positions. Admissions officers understand that successful students are focused in their ambitions, and one of the best measures of this is what they have done so far. Not every school asks for this explicitly, however in most situations a Career Goals essay is more compelling when it includes a brief but coherent career history summarizing the applicant’s work history to date. This should reveal the continuity between one’s previous professional experiences and goals for the future. A great essay manages to thoroughly and efficiently address each of these elements, with a nice balance between the ‘career progression’ section, the ‘career goals/why MBA’ section and the ‘why School X’ section. Another critical part of this essay is the explanation of one’s interest in a given program, as the adcom is sensitive to whether or not applicants are serious about attending if admitted. Individuals who name specific classes that are relevant to their goals, recount their impressions of the campus culture based on a class visit, or share what they’ve learned from discussions with alumni and students will be in good shape. The aim is to convey the fact that the applicant has conducted extensive research and is making an informed decision in applying. Beyond convincing the adcom of their genuine interest in the program, it is also important for applicants to keep the following concept in mind: any fair trade necessitates mutual benefit. In other words, in addition to showing that School X is the best MBA program for one’s needs, the applicant should demonstrate to School X that he or she will enrich its community. A strong candidate describes insights he or she could contribute in class, and offers detailed intentions for getting involved in campus activities. These general pointers should set applicants on the path toward crafting a great Career Goals essay, the centerpiece of any compelling candidacy. Happy writing!
Wednesday, May 21, 2008 Business Schools, Students Stay Upbeat Despite Economic Downturn According to a recent article in the Economist, business schools and MBA students are notably upbeat despite an economic downturn impacting organizations that are often their prime recruiters – namely those in the financial services and banking industries. According to the Economist report, several factors fuel this unusually hopeful outlook: No one knows for sure just how bad the economic situation is (or isn’t), MBA students themselves seem more realistic and pragmatic than in downturns of the past, and though top job offers are down, MBAs have not yet faced having their internship or job offers withdrawn (save the particular case of Bear Stearns). News from the schools and elsewhere echo the Economist report. Berkeley’s Hass School of Business Career Center reports that job opportunities for Berkeley MBA students during the 2007-2008 recruiting season actually increased by 5 percent over the year before and that salaries are holding steady. “It is a tighter employment market, but we have seen MBA hiring continuing,” said Abby Scott, executive director of MBA Career Services. “Some of the firms who are laying off are continuing to hire fresh talent.” Summer internship hiring has also increased over last year, according to Scott. London Business School also reported high job placement rates among its students this recruiting season. “We are thrilled to that 2007 has been another strong year for our hugely talented MBA class with an impressive 97 percent receiving an offer of employment within three months of graduation,” Diane Morgan, director of LBS career services, said in a January statement. Findings from the annual Corporate Recruiters Survey conducted by the Graduate Management Admissions Council reflect the same optimism. That said, there could still be hard times ahead. According to Haas’s Business Career Center, online job postings have dropped, suggesting that companies are resorting to “just-in-time hiring” as a result of weakening economic conditions. “As we look forward to next year, we’re anticipating a little bit of a downturn as we experienced during the last cycle,” said Haas’s Scott. What impact does this have on MBA admissions? Often, business school admissions run counter-cyclical to the economy – spiking during downturns as some look to MBA programs as a place to ride out the storm. Sometimes, though, those with jobs choose to hang onto them. Application rates so far have shown no sign of decrease. In fact, almost 60,000 students took the GMAT in the first three months of 2008, a 12 percent increase over the same period a year before. Generally speaking, the perceived value of an MBA doesn’t usually fall even if job prospects for current MBA grads do begin to falter. In fact, the MBA degree can under those conditions be the factor that helps secure a job for candidates in an increasingly competitive market. The Economist report praised students and schools for their level-headedness. “Overall, business schools and their students seem to be displaying a laudable maturity, refusing to panic—at least for now—and stressing that the MBA degree has long-since stopped being a golden passport to a well-paid and secure job,” read the report. “Many are well aware of the economic downturns of the past, notably the global recession of the early 1990s and the dotcom crash a decade later. Neither did much to dent the long-term attractions of the MBA.”
Workbook Wednesdays: Smurfs, Elves and Fairies Welcome to this year’s first edition of Workbook Wednesdays, where we offer our readers a shot at one of Manhattan GMAT’s ‘challenge problems,’ the caliber of problem you’ll see if you’re scoring above 700 on the GMAT exam. Check back with us on Thursday when we’ll work through the answer! Question One smurf and one elf can build a treehouse together in two hours, but the smurf would need the help of two fairies in order to complete the same job in the same amount of time. If one elf and one fairy worked together, it would take them four hours to build the treehouse. Assuming that work rates for smurfs, elves, and fairies remain constant, how many hours would it take one smurf, one elf, and one fairy, working together, to build the treehouse?
Tuesday, May 20, 2008 MIT Sloan School of Management $100K Entrepreneurship Contest Top Prize Goes to Diagnostics For All MIT awarded top prize in its annual $100K Entrepreneurship Competition was last week to Diagnostics For All (DFA), a nonprofit proposing new diagnostic tools that promise to dramatically improve healthcare management in developing countries. Since its launch 19 years ago, the MIT $100K has served as an indicator of which emerging markets are getting funded by venture capitalists. More than 85 companies with an aggregate market capitalization of approximately $10 billion have been born as a result of the competition. For the first time this year, entrants competed in seven distinct industry tracks – astro/aerospace, biotech, development, energy, mobile, products and services and Web 2.0/IT. The introduction of industry tracks was intended to help foster VC partner-level and industry specific mentorship and to encourage sponsored prizes. “The competition’s finale marked the culmination of a new era of the MIT $100K in delivering the specific industry level support and knowledge required to compete in today’s market,” Jeffrey Sabados, a competition co-lead organizer, said in a statement. With its patent-pending technology providing rapid and accurate diagnostic tools for liver, kidney, and metabolic diseases, DFA beat out the six finalists in other industry tracks for the overall competition title, walking away with $100,000 in start-up funds. Its offering, based on technology developed in world-renowned chemist George Whitesides’ laboratory at Harvard University, provides a platform for simple, portable, low-cost paper diagnostic tools that are easy to dispose. A panel of expert judges awarded the grand prize after watching presentations by each of the finalist teams. Judges this year included venture capitalists Gururaj “Desh” Deshpande, co-founder and chairman of Sycamore Networks, and Robert Metcalfe, inventor of the Ethernet and founder of 3Com, who also served as the evening’s keynote speaker. Audience Picks $10,000 Prize Winner This year’s competition drew 232 initial entrants. Along with DFA and Convalent Solar, the majority of the finalists and many earlier entrants report that they plan to launch businesses built around their competition entries. To learn more about the MIT $100K, click here.
Trivia Tuesday: The First Year Experience at UVA/Darden Welcome to another edition of Trivia Tuesday, our weekly look at the policies and practices that differentiate the leading business schools. This week’s focus is the structure of Darden’s first-year class and the way it impacts the first-year experience at the school. Darden’s entering class is divided into five sections of approximately 60 students each. As at other business schools that break their classes into smaller groups, Darden’s sections are designed to represent the professional and demographic diversity of the full first-year class. Each section takes all of its core curriculum courses together and therefore shares a common set of faculty. Given the relatively small size of the sections and the intensely participatory nature of Darden’s case-based learning style, the school has taken the unusual step of reassigning sections at the conclusion of the first semester. This allows students to benefit from the ideas and perspectives of a new group of classmates during second semester case discussions. Section loyalty runs deep at Darden, despite the mid-year reshuffling of the class. Inter-section athletic events and other competitions take place each year, with students’ first semester sections holding their allegiance. In addition, alumni returning to campus often identify themselves by their section affiliation. Darden first-years are further divided into 50-60 Learning Teams of 5-6 students apiece. As with the sections, learning team assignments are made with an eye to the diversity of students’ professional, academic and geographic backgrounds. However, Darden’s Learning Teams differ from those at most schools in that they are made up of students drawn from different sections of the class. Because class participation counts for such a large percentage of the grade in each course, case-based schools such as Darden and Harvard ensure that Learning Team members are not in the same class sections. This arrangement allows students to share their insights freely without having to compete against teammates in the classroom. Unlike the first-year sections, Darden’s Learning Teams work together throughout the first year. Students are expected to use the teams as a resource for sharing and testing ideas, but above all, the teams are seen as an exercise in learning to lead a diverse group toward a shared goal. The school expects students to be committed to their Learning Teams and these teams play a central role in the lives of first-years. To support the work of the Learning Teams, Darden reserves a study room for each team from 7-10 p.m. on Sunday through Thursday evenings. This practice is unique to Darden among its peer programs; few business schools have enough study rooms to provide their learning teams with dedicated meeting space throughout the week. To learn more about the first-year academic experience at Darden or other leading MBA programs, be sure to check out the schools’ websites or the Academics section of the Clear Admit School Guides!
Monday, May 19, 2008 Campus Chronicles: Virginia/Darden and Northwestern/Kellogg Winning ideas have value, especially at business schools. As graduation and summer internships loom ever nearer, we wanted to share a look at the successful ideas and the pots of money being won by student projects at several top schools. Two students of University of Virginia’s Darden School of Business have been winning accolades and business plan contests this spring using rice husks. So far they have been awarded almost $100,000 in prize money, including $50,000 for winning the Social Innovation Competition at the University of Texas on May 2, $35,000 for taking second place at MIT’s Ignite Clean Energy competition on May 12, and a $10,000 top prize from the University of Virginia on April 7. The two students started a project with an India-based partner to supply electricity to villages in Bihar using rice husks as the source of fuel. So far two pilot rice husk generators are providing power to about 10,000 rural Indians, which will save 200 tonnes of emissions annually compared to diesel or coal power. The business plan of Husk Power Systems calls for a rapid expansion that will put the miniature power plants in hundreds more villages within a few years. Apart from electricity,the ash of the burnt husks can be sold as a high quality ingredient for cement, making even the waste from this project valuable. The Kellogg School of Business celebrated five Kellogg students who brought home top honors from the 2008 Walter V. Shipley Business Leadership Case Competition. Along with their triumph, these Kellogg students received a prize of $20,000. The case study in this year’s competition focused on the Environmental Defense Fund’s proposed negotiation strategy with two private equity firms who had plans to buy out a large energy company. One winning student credits the team’s success over peers from other schools to Kellogg’s emphasis on collaboration. Another illustration of successful collaboration in the Northwestern region resulted in a team of Kellogg School and Feinberg School of Medicine students winning first place in the CHEST Foundation Case Competition held on May 8. The event was co-sponsored by the Social Entrepreneurship Lab at Kellogg, the Kellogg Social Impact Club, the Health Industry Management Program, and Healthcare and Biotechnology Club. The winning business plan was a hybrid for-profit and nonprofit business model designed to attack key asthma triggers in the home through an effort to educate patients and help them reduce exposures in their homes. The for-profit arm of the enterprise would raise revenue through a residential cleaning service that specializes in eliminating indoor asthma triggers, while the not-for-profit organization would use these funds to drive a community-based “train the trainers” asthma education program. The students’ polished presentation and attention to financial details earned them top marks and a $2,000 prize. Hopefully this idea will also help thousands of Chicagoan’s breath easier!
Job Outlook Good for MBAs Despite Weak Economy, Survey Says Despite a faltering economy, job prospects remain good for MBAs, according to a recent survey by the Graduate Management Admissions Council (GMAC). The number of employers seeking to hire MBA graduates is up and projected to climb even farther, base salaries are reported to have increased this year over last and many firms expect their on-campus recruitment efforts to remain steady, although some firms do project a slowdown in this area. These and other findings were released as part of the 2008 Corporate Recruiters Survey, an annual survey conducted by GMAC in partnership with the MBA Career Services Council and European Foundation for Management Development. Mo’ Money On an industry by industry basis, not a lot of change in terms of the employers paying top dollar: The highest average total annual compensation for recent MBA graduate hires is in consulting ($111,539), followed by finance or accounting ($110,114). Recruiters on Campus As with pay, consulting and finance firms top the list in terms of recruitment efforts as well. But there is also hiring strength in several other industries, including healthcare, pharmaceutical, and products and services firms. In fact, in these sectors, recruiters report that they are more likely to hire MBA graduates in 2008 compared to 2007. Meanwhile, while nonprofit and government organizations were least likely to be involved in on-campus recruitment (44 percent) in 2007, they were the most likely to report plans to increase their on-campus recruiting effort in 2008. Across industries, the MBA continues to be more attractive to corporate recruiters than any other degree or background, according to survey results. Seventy percent of respondents reported being more likely in 2008 to hire MBA graduates (70 percent) than graduates with a bachelor’s or first university degree (54 percent), experienced direct-from-industry candidates (50 percent), graduates from disciplines other than business (40 percent), specialized master’s in business graduates (34 percent), or graduates who hold MSc degrees in business or management (21 percent). According to the survey results, part of what makes employers look upon MBA graduates so favorably is their staying power. Employers report that 65 percent of their 2003 hires, 74 percent of 2005 hires, and 90 percent of 2007 hires have continued working for the company. In addition to projected high retention rates, the survey also found that employers value MBA graduates for business management knowledge, communication skills, technical or quantitative skills and ability to apply business discipline to any job or function. To learn more about GMAC’s annual Corporate Recruiters Survey, click here.
HBS Essay Topic Analysis 2008-2009 Perhaps in anticipation of another increase in application volume, the number of HBS essay questions that candidates must answer has gone down – from 5 last year to 4 this season, down from 6 or 7 essays a few seasons ago. Further, at just 1800 words total, Harvard’s has become one of the shorter b-school applications. This underscores the importance of choosing among essay options judiciously, and using the limited words in each essay as beneficially as possible. That said, let’s take a look at the questions for this year: Essay 1: What are your three most substantial accomplishments and why do you view them as such? (600-word limit) HBS has traditionally been very impact-oriented in evaluating applicants’ credentials, so one way to determine which three accomplishments to describe in this essay is to think about the end results. Experiences in which you made a lasting and quantifiable impact can lend themselves to concise, factual narratives, and considering that each accomplishment must be described in approximately 200 words, this can be an important consideration. However, this isn’t to say that the process followed, skills gained, and lessons learned along the way aren’t important, too; these factors could be a great way to address the second half of the question: why you view these accomplishments as your most significant to date. A final point is that it’s also important to select stories with an eye to balance. An applicant who describes two professional successes and one extra-curricular accomplishment, or perhaps one each from the professional, academic and activities realms, can show that he or she excels in any environment. Essay 2: What have you learned from a mistake? (400-word limit) Another important element to touch on is that you’ve experienced some growth or development since the initial mistake. While applicants should not ‘gloss over’ their mistakes, it is important to emphasize positive growth and the learning experience that can come from missing the mark. An effective essay will present this growth in terms of thoughts and feelings, while balancing comments about internal reflections with descriptions of more external actions and changes in behavior. Please respond to two of the following (400-word limit each): Essay 3.1: What would you like the MBA Admissions Board to know about your undergraduate academic experience? Essay 3.2: Discuss how you have engaged with a community or organization. Essay 3.3: What area of the world are you most curious about and why? This question could be an excellent choice for joint or concurrent degree applicants as a substitute for the “career vision” essay; an MBA/JD applicant might elect to discuss his or her deep interest in the intersection of business and law, for example. For the vast majority of applicants, though, there are a number of strategic considerations that go along with this prompt. Because the adcom hopes to get to know its applicants better through the essays, it’s natural for them to wonder what most interests them. It doesn’t seem extremely likely, though, that one would have a passion worth covering in this essay that wouldn’t be more constructively discussed in response to one of the school’s other prompts. Because it doesn’t make sense to write an essay about what one doesn’t know, the subject of this response should ideally be an area of curiosity that one has already explored to some extent. One might therefore find that an academic interest is more naturally covered in “undergraduate experience” option, that a professional or regional interest fits better with the “career vision” essay, and that a hobby or cause shared with others works best with the response about engaging a community or organization. This essay does lend itself well to covering a solo activity or interest (making it a good platform for World War I buffs and amateur astrologers to discuss this aspect of their lives), but these are seldom crucial elements of one’s candidacy. We don’t mean to say that there’s no way for the average applicant to answer this question well, only that he or she should take a good look at this year’s other options before proceeding. Essay 3.4: What is your career vision and why is this choice meaningful to you? Harvard’s adcom tries to identify future business leaders, so applicants presenting a directed vision will make a positive impression. Because this essay is about your career vision, you might summarize your past experiences in a very concise manner (i.e. just a few sentences) before moving on to a detailed discussion of your future plans and the reasons that these plans are meaningful to you. Whereas many schools request a clear description of the candidates immediate post-MBA program, this particular question lends itself to a long-term, big picture outlook. Of course, you might also touch on the ways in which HBS will help you achieve your vision. Think about how Harvard’s program (specific classes, classmates and clubs) would prepare you for your future. Conclusion
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MBA Twitter Index! We've created the MBA Admissions Twitter Index, a directory of applicants, current MBA students and b-schools on Twitter.Wiki MBA Admissions WikiThe Clear Admit Wiki is designed to allow b-school applicants to share their experiences through the application process. You can learn from others' experiences and contribute your own reports to the community. Below are the five most popular pages in the wiki: Wharton Interview Field Reports HBS Interview Field Reports Kellogg Interview Field Reports Chicago Interview Field Reports Columbia Interview Field Reports Discussion Boards BusinessWeek ForumsThe BusinessWeek Discussion Boards are another way to learn about the issues applicants face. Clear Admit hosts the Ask Clear Admit thread, which should help answer your questions. Here is a link to the original interface (for those of you who didn't like the recent upgrade). Also, here are the five most recent discussions taking place in the forum: Clear Admit is a featured expert in the BeatTheGMAT forums, answering questions from applicants across the globe. Feel free to ask us your questions in this forum! Here are the most recent posts: Clear Admit manages the Applying section of the StudyLink MBA discussion boards. Below are the five most recent posts to the GMAT Club message boards.
The student-2-student Discussion Boards are managed by Wharton. Here are the five most recent discussions. School-Hosted Blogs Straight from the source: aggregated posts from students and administration. Below are the seven most recent posts in school-hosted blogs. Individuals' Blogs A selection of the latest updates to MBA blogs compiled by Hella.MBA Applicants Bloggers by School The following are links to bloggers at each of the schools listed.Chicago Columbia Dartmouth / Tuck Duke / Fuqua Harvard Kellogg Michigan MIT / Sloan New York / Stern North Carolina / Chapel Hill Stanford Virginia / Darden Wharton Yale ESADE IESE INSEAD London Business School Community Blogs Bshoolers.comCommunity blog with MBA student and alum contributors. Forté Foundation MBA Diaries Video blog entries posted by women MBA students. Owen Bloggers Independent blog with content by Vanderbilt MBA students. Best of Blogging 2008-2009 Top Ten:
Best of Blogging 2007-2008 Top Ten:
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