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CATEGORY - SCHOOL: CHICAGO

Wednesday, March 10, 2010

Chicago Booth Won’t Necessarily Scrap PowerPoint Component of Application, Admissions Director Says

The University of Chicago Booth School of Business is currently planning next year’s application, including considering changing or eliminating the PowerPoint presentation requirement that has been one of the school’s application components for the past several years, according to Admissions Director Rose Martinelli.

In a post to her blog yesterday, Martinelli sought to clarify certain points made in a BusinessWeek article earlier this week entitled “Business Schools Revamp the Application.” The BW article cited Chicago Booth and UCLA Anderson as leaders among top business schools that are embracing new technology as part of their application process, noting Chicago Booth’s PowerPoint component and Anderson’s invitation to candidates to answer one essay question in audio or video format. But it went on to report that Chicago Booth had decided to eliminate the PowerPoint presentations starting with the 2010-11 academic year because they didn’t work.

“While the article covered the spirit of my conversation, it unfortunately missed providing the context,” Martinelli wrote on her blog. The BW article suggested that Chicago Booth planned to nix the PowerPoint slides because they didn’t help the admissions committee determine how well a candidate would fit the Booth culture. On the contrary, Martinelli wrote on her blog. “The PowerPoint presentation has been incredibly successful in our evaluation process in identifying students who are great fit and match for Chicago,” she wrote.

Over time, though – as candidates and consultants have become more familiar with the exercise – her office has begun to see more presentations that felt standard or rote, she continued. As it begins to design next year’s application, her team is considering each individual component, but the PowerPoint has not necessarily been eliminated, Martinelli says. “While this may be the last year of the presentation requirement in its current form, we have not yet made any final decisions as to what next year’s application will look like,” she wrote.

Of course, those of us here at Clear Admit will stay on top of the developments in Chicago Booth’s application and update our readers here as soon as any official changes are released.

3 Comments »

# posted by Clear Admit @ 1:00 pm in MBA News, School: Chicago, School: UCLA / Anderson

Tuesday, March 02, 2010

Trivia Tuesday: Lifelong Learning at Chicago Booth, Tuck, Duke/Fuqua and NYU Stern

It’s Tuesday, so that means it’s time for a look at the programs and policies that help to differentiate the leading business schools. Today we’ll examine the opportunities available for MBA graduates at Chicago, Dartmouth/Tuck, Duke/Fuqua and NYU Stern to continue their business training through alumni education programs.

For instance, Chicago Booth permits alumni to enroll in up to three courses free of tuition at any time after they graduate. Most graduates use the courses to hone or sharpen their skills in a particular area, and the grades received in these courses become part of their official Chicago Booth transcript.

In contrast to Chicago’s formal alumni education program, Tuck offers a much more informal continuing education program. In addition to life-long access to the Career Development Office, Tuck alumni may enroll in programs through the Osman Tuck Alumni Lifelong Learning (TALL) Program. TALL’s classes are presented by Tuck faculty in the U.S. and abroad and help keep alumni up-to-date on the newest thinking and trends in business.

At Fuqua, alumni seeking formal continuing education are invited to enroll in the Health Sector Management Alumni Certificate program. Designed for alumni currently working in healthcare or seeking a career move into the field, the HSM Alumni Certificate program teaches students ways to approach the business of healthcare. Participants enroll in either Weekend or Global Executive MBA classes, in person or remotely.

Finally, all Stern alumni are eligible to continue their business education through Stern’s Alumni Students program. Although many leading business schools allow graduates to pursue additional coursework, Stern has one of the most flexible policies, allowing alumni to enroll in three credits per semester with no cap on the number of post-graduate credits they may earn. All Alumni Student participants must pay applicable tuition and fees, and all course grades are recorded on the participant’s official Stern transcript.

It’s important to remember that earning an MBA is about more than just the time spent on campus. Business schools want their graduates to do well not just in their first jobs, but throughout their professional lives, and the leading schools therefore devote significant resources to personal and professional support for alumni.

For more information on the career support, academic opportunities, mentoring programs and other resources available to MBA alumni, be sure to check out the Alumni Network sections of the Clear Admit School Guides!

2 Comments »

# posted by Clear Admit @ 1:42 am in School Guides, School: Chicago, School: Dartmouth / Tuck, School: Duke / Fuqua, School: NYU Stern, Trivia Tuesday

Thursday, February 25, 2010

Chicago Booth Admissions Director Shares Round Three Admissions Tips

Rose Martinelli, the director of admissions at the University of Chicago Booth School of Business, in a recent blog post tackled some myths and shared some advice for prospective applicants considering the school’s upcoming third-round deadline.
 
“Somewhere along the line, R3 inherited the reputation of being somewhat irrelevant in the overall admissions cycle – a round where you made a last ditch effort to gain admission while perhaps believing that your chances for acceptance were very slim,” she wrote. Acknowledging that Round Three can be more competitive because the majority of acceptances go to applicants in the first and second rounds, she stressed that a good portion of the next Chicago Booth class will be admitted from R3. In fact, a good number will even be placed on the summer waitlist to help her team manage class size through the summer, she added.

She then rattled off a list of things applicants should consider when applying in R3. For starters, though Chicago Booth encourages international students to apply in earlier rounds to allow time for such a large transition, international candidates are nonetheless accepted during the third round. And because round-three decisions are released in mid-May, accepted international candidates still have plenty of time to process their visas before classes start in September.

Second, she encourages applicants to consider letting the application review team know why you’ve chosen to apply in R3 if it’s relevant. “It can ease the reader’s questions about your intentions,” she wrote. “Don’t be afraid to be honest – we’ve been in your shoes,” she added.

Finally, shake the “last ditch” mentality and make sure that your round-three application is as strong as it can possibly be, Martinelli advises. “We can tell if your application is rushed or if you’re just hedging your bets by throwing one more application together,” she wrote. Indeed, because there are fewer slots left by the time R3 rolls around, your application needs to be as strong and well thought through as you can make it.

Applicants considering a round-three run at Chicago Booth won’t want to miss the live chat Chicago Booth has scheduled for March 3rd. To learn how to join, click here.

0 Comments »

# posted by Clear Admit @ 1:00 pm in Admissions Tips, School: Chicago

Wednesday, February 24, 2010

$2.5 Million Alumni Gift Will Endow New Faculty Chair at Tuck School of Business

Impressed with the advancements at the Tuck School of Business in the past two decades and moved by the camaraderie of classmates during a recent reunion, a Tuck alumnus recently made a gift of $2.5 million to endow a new faculty chair at the school.

The new Bakala Professor of Management faculty chair is named for Zdeněk Bakala, a member of the Class of 1989 who returned to campus for his 20th reunion this past fall. In enabling Tuck to expand its faculty of thought leaders, the establishment of the new chair advances one of the primary goals of the school’s ongoing Tuck 2012 initiative.

A Czech native, Bakala has been involved in finance and business in the Czech Republic and the CEE since the early 1990s and is an established figure in the business community there. Among his many achievements, he established the Prague office of Credit Suisse First Boston in 1991 and founded Patria Finance, one of the largest investment banking boutiques in the Czech Republic, in 1994. He credits Tuck with helping him get to where he is today. “The skills I learned at Tuck translated into success in entrepreneurship,” he said in a statement announcing his gift.

Though the recent reunion marked only his second return to Tuck’s New Hampshire campus since his graduation 20 years ago, Bakala’s ties to the school have remained strong. “The contacts I made are still important to me – they are some of the people I speak to everyday,” he said. “I want to help make sure this experience continues for Tuck students.”

Bakala’s gift to Tuck is one of several sizeable alumni donations at leading business schools in recent months, signaling renewed generosity following a period of more constrained giving associated with the global economic crisis. Most notable is the $50 million gift last year to the University of Chicago’s Booth School of Business from alumnus David Booth, for which the school was renamed. Even more recently, New York University’s Stern School of Management received a $20 million gift in November 2009, and the Yale School of Management received an alumni gift of almost $9 million in January 2010.

0 Comments »

# posted by Clear Admit @ 1:00 pm in MBA News, School: Chicago, School: Dartmouth / Tuck, School: NYU Stern, School: Yale

Friday, February 19, 2010

NYU Stern, Chicago Booth Partner with Deutsche Bank on Risk Management

New York University’s Stern School of Business this week announced a multi-year academic partnership with Deutsche Bank to expand research and education related to risk management and financial regulation, according to a recent Financial Times report. Earlier this month, Deutsche Bank announced a similar partnership with the University of Chicago Booth School of Business.

At Stern, the program will be coordinated by the school’s Volatility Institute, which is directed by Nobel Laureate Robert Engle. Deutsche Bank’s funding will support research at the Volatility Institute and the Salomon Center for the Study of Financial Institutions, as well as a series of conferences and other events.

At Chicago Booth, Deutsche Bank will underwrite a new speaker series for MBA students and a new summer conference for PhD students. The “Risk and Regulation in Financial Markets” speaker series for MBA students is already underway. Its inaugural event, which took place on February 9th, featured Douglas Diamond, the Merton H. Miller Distinguished Service Professor of Finance.

The new PhD program, meanwhile, will consist of a multi-day summer conference focused on the regulation of financial markets. Designed to complement Chicago Booth’s existing PhD curriculum, the conference will be open to PhD students as well as invited junior faculty from other top business schools.

Deutsche Bank’s decision to partner with leading business schools around risk management and regulation comes in response to the recent global financial crisis, which resulting in the collapse of major financial institutions, bail outs of other banks by national governments and downturns in stockmarkets around the world. ”The financial crisis has shown that risk management and a strong regulatory framework are critical to healthy markets and economies, so it is imperative we work together to educate tomorrow’s business leaders,” Hugo Banziger, Deutsche Bank’s chief risk officer, said in a statement announcing the Chicago Booth partnership.

0 Comments »

# posted by Clear Admit @ 1:00 pm in MBA News, School: Chicago, School: NYU Stern

Tuesday, February 16, 2010

Trivia Tuesday: MBA and Master’s Joint Degree Programs

Welcome to another edition of Trivia Tuesday! Today we’ll consider the options available to students interested in complementing their MBA studies with an advanced degree in another academic area. Often referred to as either joint or dual degrees, most business schools partner with other graduate programs at their home universities to offer one or more of these joint study options. Dual degree programs differ from other certificate programs in that students earn two degrees – often an MBA and a Master’s. Although studying for a dual degree typically takes 3-5 years instead of the normal two years of the MBA, it is almost always faster than completing the degrees separately.

Let’s take a look at a few of the options for students seeking a Master’s degree in conjunction with their MBA, as well as the admissions requirements governing these degrees.

Like most leading MBA programs, Columbia Business School offers dual degree programs through which students earn another degree concurrently with their MBA (e.g., Master’s in International and Public Affairs, Master’s in Social Services). Applicants are required to apply to and receive admission to both programs and may apply to both programs simultaneously or to the second program if they are less than halfway through their studies at the first school.

Students in a dual degree program at Columbia register at one school per term and may take courses in either program in each term, as long as they meet each school’s course, residence, and sequencing requirements. CBS recommends that candidates complete the first two terms of the MBA program consecutively to maintain the integrity and full benefits of the cluster system.

Similar systems are in place at Chicago, which offers two joint MBA/MA programs, at HBS, which offers concurrent degrees with the Kennedy School of Government, and at Stanford, where there are joint MBA/MA options. A few business schools offer slightly different options for students interested in joint degree study. For instance, Kellogg does not offer a set list of MBA/MA programs, instead opting to allow students to create their own joint program through application to their two programs of interest. Meanwhile, although Tuck and Wharton offer dual degrees on their own campuses, each also teams up with other universities (including Tufts, the Kennedy School, and Johns Hopkins School of Advanced International Studies) to offer a more extensive list of dual degree programs.

While dual degree students make up a relatively small percentage of the overall MBA population, some admissions officers report that combination degrees are becoming increasingly popular as students seek to customize their educations and take advantage of the opportunity to earn two degrees in less time, and for less money, than if they pursued separate programs. For MBA applicants interested in applying their business education to fields such as public policy, education, social work, the environment, public health, international policy or another specialized field, a joint degree program can offer both the area expertise and business knowledge needed for a successful career.

To learn more about MBA/MA dual degree options, be sure to check out the Dual Degrees section of the Clear Admit School Guides!

1 Comment »

# posted by Clear Admit @ 1:56 am in School Guides, School: Chicago, School: Columbia, School: Dartmouth / Tuck, School: Harvard, School: Northwestern / Kellogg, School: Penn / Wharton, School: Stanford, Trivia Tuesday

Wednesday, February 03, 2010

Submit an MBA Interview Report for Columbia Business School, Cornell / Johnson, NYU / Stern or UCLA / Anderson, Win a $10 Gift Card to Amazon!

Welcome to February’s first installment of Wiki Wednesdays, in which we set a spotlight on the latest submissions to the Clear Admit Wiki, an online repository for MBA applicants to share their experiences with admissions interviews.  We’ve received a number of interview reports this past week – for Chicago Booth, Cornell / Johnson, Dartmouth / Tuck, IESE, Michigan / Ross, Northwestern / Kellogg and UVA / Darden – and we’d like to thank everyone who has been sharing their experiences this season!

Before getting into contest details, let’s take a peek at a few snippets from some of the latest contributions!  A Round 2 applicant to IESE shared the following questions from an adcom member:

1. Tell me something about your family.
2. Describe your school life.
3. When is the last time you met your college friends?
4. How would your friends describe you?
5. Describe the characteristics of your best friend.
6. What is your take on the trade situation in China?
7. Are you comfortable talking in front of/ addressing large audiences of 70-80 people?
8. How will you finance your MBA, if you don’t get a scholarship?

On behalf of Booth, an alumnus interviewed a Round 2 candidate:

1. What do you expect from Booth?
2. Which other schools are you applying to?
3. What leadership experiences you have? How is your interaction day to day with your team?
4. What do you expect from your MBA in the long term?
5. What are the differences you’ve found between different nationalities while working in a multinational?

Thank you to everyone who has helped fellow applicants by sharing your interview experience!  If you’re eager to contribute, we’ll be awarding a $10 Amazon gift certificate to applicants that submit interview reports for Columbia Business School, Cornell / Johnson, NYU / Stern or UCLA / Anderson through next Tuesday, February 9th!  In other words, all you have to do is send us your interview field report for the selected schools for inclusion in the Wiki and we’ll send you a $10 Amazon gift certificate.   You must send your interview report to wiki@clearadmit.com to be eligible; we’ll post it to the Wiki and notify the winners by e-mail (Limit: one iTunes or Amazon gift card per person).

The most helpful and informative reports usually include the following information:

1. Date/Admissions Round
2. Description of visit and/or interview atmosphere
3. Type of interview (alum vs. adcom, blind vs. application-based)
4. List of interview questions
5. Commentary (What did you think of the interview? What surprised you? What didn’t surprise you? What might you conclude about the school based on this experience?)

Applicants who would like to supplement the information available on the Wiki can check out our Clear Admit Interview Guides, which provide school-specific insight about admissions interviews.  Best of luck to those undergoing Round 2 interviews!

0 Comments »

# posted by Clear Admit @ 2:17 pm in School: Chicago, School: Columbia, School: Cornell / Johnson, School: IESE, School: NYU Stern, School: UCLA / Anderson, Wiki Wednesdays

Half of Chicago Booth Round Two Interview Invitations Still to Go Out

Haven’t received an invitation to interview as part of the University of Chicago Booth Scool of Business’s second round? Don’t despair, says Dean of Admissions Rose Martinelli. Many invitations are still to go out.

“I want to assure you that we are still evaluating applications,” she wrote on her blog yesterday. “ In fact, we’ve just crossed 50% as of today,” she continued, adding that her office will need every day between now and the February 17th notification deadline for the round to evaluate the remaining applications and extend interview invitations.

She reminded applicants about what they should expect from the interview, encouraging them to be prepared to answer basic questions about the MBA and their own future goals. As examples, she offered the following:

• Can I clearly articulate my career plan and future goals? 
• What do I really want from my MBA experience? 
• What is my motivation to obtain an MBA? 
• Why is Chicago Booth the right place for me, and why am I right for Booth? 
• How do I plan to use my MBA in my career? 

Beyond these types of questions, the interview will be behaviorally-oriented, calling on applicants to discuss how they approached a situation or challenge in the past, she wrote. “Think about experiences that you can use to address these types of questions,” she suggested, and practice a few times with friends or colleagues.

Finally, relax and just focus on having a conversation with your interviewer, she said. “Remember, the interviewer knows Booth well, but not you. So feel free to allow the conversation to be two way,” she suggested. The interview is just one of many components of your application, she concluded.

Don’t forget that you can follow other applicants’ progress through the interview process – and share your own experience – on the Clear Admit Wiki. And you can check out the Clear Admit Chicago Booth Interview Guide for valuable insight on exactly how to prepare for your own interview. Good luck!

0 Comments »

# posted by Clear Admit @ 1:00 pm in Interview Tips, School: Chicago

Thursday, January 21, 2010

Chicago Booth Dean Snyder to Assume Deanship of Yale SOM in July 2011

Yale School of Management (SOM) President Richard Levin announced last night that Edward Snyder, former dean of the University of Chicago Booth School of Business, has been appointed as Yale SOM’s new dean, effective July 1, 2011.

Snyder, who is currently dean and George Shultz Professor of Economics at Chicago Booth, last month announced his decision to step down as dean there effective June 30, 2010. Snyder will take a year’s leave before assuming the deanship at Yale, during which time Sharon Oster will continue as SOM interim dean. 

“Ted Snyder is widely regarded as the most successful business school dean in the nation,” Levin said in a statement announcing the appointment. “He brings experience, enthusiasm, and vision to the Yale School of Management, and he looks forward to maintaining the school’s tradition of preparing students for leadership in business and society by raising their awareness of the context in which business operates,” he continued.

Levin added that Snyder was especially drawn to SOM because of its openness to collaborate across schools and its focus on global experiences and awareness and that he is committed to pushing forward curricular changes begun by the SOM faculty three years ago.

Yale SOM seems happy indeed to have snagged Snyder. The release announcing his appointment ticked off the list of achievements Chicago Booth had under his leadership. Indeed, since Snyder became dean in 2001, Chicago Booth has almost doubled its number of endowed professorships, more than tripled its scholarship assistance to students, moved to a new Hyde Park campus, expanded its presence in Singapore, established a new campus in London, successfully completed a capital campaign and more than doubled its endowment. And in 2008, Snyder announced the unprecedented $300 million gift to the school from alumnus David Booth, for which the school was renamed.

At the time of his announcement that he would step down as Chicago Booth dean, Snyder intimated that he would be open to being dean of another school. “My guess is, I’ve got one more big leadership job,” he told the Financial Times on December 10th. 

In his next role, Snyder will have a new set of efforts to lead. In addition to the curricular changes begun three years ago, Yale SOM is planning the construction of a new campus of its own. In his announcement yesterday, President Levin noted that site clearance and final drawings are underway for the new campus, designed by acclaimed architect Norman Foster, and that construction will begin in summer 2010. Buoyed by a $9 million alumnus gift earlier this month, Levin expressed confidence that the school was on track toward having sufficient funds to proceed with construction on schedule.

To learn more, click here.

0 Comments »

# posted by Clear Admit @ 8:30 am in MBA News, School: Chicago, School: Yale

Tuesday, January 19, 2010

Trivia Tuesday: Chicago Booth’s First-Year Class

Welcome to another edition of Trivia Tuesday, our weekly look at the policies and programs that impact the student experience at the leading business schools. Today we turn our attention to Chicago Booth’s incoming class, taking a closer look at the smaller groups that help to structure that school’s first-year experience.

Chicago organizes its approximately 550 first-year students into 10 cohorts, and within the cohorts, into 8-9 squads. New students learn their cohort and squad assignments on the first day of CORE, the two-week Chicago pre-term program. Later in the pre-term, the cohorts take a three-day camping trip, during which they participate in teambuilding activities and get to know one another better before the beginning of the academic year in late September.

Cohorts
Cohorts are purposefully assembled so that each represents the diversity of the class as a whole, with an eye to varying age, gender and professional and ethnic backgrounds within the group. Chicago’s cohorts maintain their names from year to year – Rockefeller, Nobels, Phoenix, Walker, Gargoyles, Bond, Maroons, Harper, Davis and Stuart – creating connections between the students and alumni from each cohort.

Students take the required LEAD class with their cohorts, and the cohort is also the base unit from which members of the Graduate Business Council, Chicago’s student government body, are elected (two per cohort per class). Inter-cohort competitions, such as a series of poker nights with a year-end tournament, take place throughout the first year at Chicago. Despite these activities, Chicago’s cohorts do not seem to foster the strong links created in cohort systems at other schools. This is likely due to the flexibility of Chicago’s core curriculum; at Wharton and Columbia, for instance, cohorts take almost all of their first-year courses together, while Chicago first-year students follow individualized schedules.

Squads
Within each cohort, students are assigned to squads, also designed with diversity of members in mind. Squads generally consist of about 6-8 people, and serve as the primary study group during the required first-quarter LEAD class. Students work within their squad on role plays and team projects, and also compete against other squads throughout the course.

Upon completion of LEAD, however, the role of the squad dissipates as students pursue their own paths through Chicago’s core curriculum. Squad members sometimes find themselves in the same courses and reunite as study partners, but the official academic role of the squad ends with the LEAD program.

For more information on the first-year experience at Chicago Booth or other leading business schools, be sure to check out the Clear Admit School Guides!

0 Comments »

# posted by Clear Admit @ 3:00 am in School Guides, School: Chicago, Trivia Tuesday

Monday, January 04, 2010

Round 2 Reminders from Chicago Booth Admissions Director

In a post to her blog yesterday, Rose Martinelli, admissions director at the University of Chicago Booth School of Business, offered a few reminders to applicants who are busy working toward the school’s upcoming January 6th Round 2 application deadline.

First, Chicago Booth has extended the deadline for submission of letters of recommendation a full week beyond the application deadline, to January 13th. “With the holidays so close to our deadline, we wanted to remove some of the pressure you may feel in having your recommenders submit on time,” Martinelli wrote. Applicants’ portions of the application must still be in by January 6th at 5 p.m. Central Time in order to be accepted as part of Round 2, but it’s okay if recommender are a few days late, Martinelli explained. Having said that, her office can’t begin to review a candidate’s application until all elements – including the recommendations – have been received, she added.

Second, there’s no need to send an official transcript at this stage, Martinelli reminded candidates. A scanned copy as part of your application is all the school needs now. Only candidates who are admitted will need to send official transcripts.

Finally, as long as you have taken any relevant entrance exams (GMAT/TOEFL/IELTS) prior to the deadline, all you need to do is self-report your scores in your application, Martinelli wrote. “We will receive the official score reports directly from the test providers as long as you identified Booth as one of your schools,” she added.

Beginning today, Martinelli’s full admissions team will be back in the office ready to answer any last-minute questions. Best of luck to all round-two applicants to Chicago Booth from those of us here at Clear Admit. Remember to share your experience and learn from those of others on the Clear Admit Wiki.

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# posted by Clear Admit @ 1:00 pm in Admissions Tips, MBA News, School: Chicago

Wednesday, December 23, 2009

Chicago Booth Admissions Director Provides Guidance for R2 Applicants

In a recent post to her blog, University of Chicago Booth School of Business Admissions Director Rose Martinelli answered some questions and offered some tips to prospective round-two applicants.

For starters, she cleared up one question she hears often, namely, whether applicants in the second round are at a disadvantage versus those in the first. “The answer is no,” she writes. “While your fellow Round One applicants have set the bar, so to speak, we get the majority of applications in Round Two. So overall the level of competition between the rounds is not that significant.”

Having said that, the same is not true if you’re deciding between rounds two and three, she continued. By round three, there are fewer slots left in the incoming class and most scholarships and fellowships will already have been awarded. She also pointed out that international students who apply in the third round still have ample time to apply for visas, but the timing may be more stressful for those who are placed on the waitlist.

In the end, Martinelli advises applying when your application is at its best. “Timing is all about tradeoffs and so we do our best to be clear about what those might be. Now the decision is yours,” she writes.

Beyond timing, preparation is critical to a strong application, Martinelli continues. Make sure you’ve done a thorough self-assessment and also do your research on schools. “While there is only one MBA degree, no two MBA programs are exactly the same,” she writes. You must understand why a particular program fits your specific needs and goals and then demonstrate that fit in your application, she advises.

Martinelli also urged careful attention to detail in answering essay questions. “Many schools have quite similar essays this year, so if you want to stand out from the pack, it is absolutely important that you answer the questions each school is asking,” she writes. Despite their similarities, the questions are not all the same, she warns.

Finally, she encourages applicants to pay a visit to campus, attend one of the more than 70 student-hosted events in cities around the world or participate in a live chat with the admissions staff as part of your research process. And for answers to last-minute questions, she invites applicants to email the admissions office directly at admissions@chicagobooth.edu.

Best of luck to all round-two applicants to Chicago Booth! If you haven’t already, don’t forget to check out Clear Admit’s Chicago Booth School and Interview Guides, which can help you in  your research and preparation.

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# posted by Clear Admit @ 1:00 pm in Admissions Tips, Interview Guides, School: Chicago

Friday, December 11, 2009

University of Chicago Booth School of Business Dean to Step Down in June

Another business school will be looking for a new dean come June, according to a report yesterday in the Financial Times. University of Chicago Booth School of Business Edward Snyder will step down as dean in June 2010 after nine years in the role.

Snyder’s news comes just 10 days after Harvard Business School’s Dean Jay Light announced that he, too, will step down in June, ending a 40-year tenure on the HBS faculty. Meanwhile, officials at Northwestern’s Kellogg School of Management are conducting a search of their own to find a successor to Dean Dipak Jain, who stepped down in September. 

Chicago Booth’s Snyder will leave before the end of his second five-year term as dean, which would have finished in June 2011. “Given the strong state of our school and what we have accomplished, I believe now is the right time for the school to search for its next dean,” Snyder wrote in a letter to the Chicago Booth community. “On the personal side, I look forward to taking some time to reflect on the challenges facing management education, analyze some major public policy issues and consider my future,” he continued.

In a separate letter to the community, Chicago Booth President Robert Zimmer and Provost Thomas Rosenbaum praised Snyder’s dedication and all he has achieved over the past near decade. They credited him with helping to draw many of the world’s leading faculty to Chicago and doubling the number of endowed professorships at the school, while also maintaining the highest retention rate for senior faculty in five decades.

Also under Snyder’s leadership, student scholarship assistance has more than tripled, the dean and provost wrote. The school’s global footprint, too, has expanded to include a planned campus expansion in Singapore, a new campus in London and a key role in the University’s new Center in China. Meanwhile, at home on the Hyde Park campus, Chicago Booth moved its central operations into a dramatic new building.

Who will fill all of these open deans’ positions is sure to have the business school community buzzing, the FT noted. At HBS, which has always appointed its deans from within, the two current frontrunners are Rakesh Khurana and Nitin Nohria. The dean’s search committee at Kellogg is slated to propose candidates to the president and provost in early 2010, and interim dean, Sunil Chopra, is considered a potential frontrunner, the FT reported.

Meanwhile, Chicago Booth will establish its own dean’s search committee in the next few weeks, the president and provost wrote.

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# posted by Clear Admit @ 1:00 pm in MBA News, School: Chicago, School: Harvard, School: Northwestern / Kellogg

Tuesday, December 08, 2009

December Update from Chicago Booth’s Admissions Director

In a post to her blog Sunday, Rose Martinelli, director of admissions at the University of Chicago Booth School of Business, took a moment during one of the busiest times of the year to update anxious round-one applicants about what’s going on in the admission office right now. 

“After wrapping up over 900 interviews in Chicago and around the world last week, we’re now diligently reading… and reading and reading,” she wrote. In the two weeks left before Chicago Booth issues round-one decisions on December 16th, her team will spend a good portion of its time in committee working to assemble a strong, diverse group of admits, she continued.

If you’re among the lucky applicants to be admitted, expect your phone to ring. “In Chicago tradition we’ll make every effort to call each and every admit personally to welcome you to the community we’re so proud of,” Martinelli wrote. 
 
Meanwile, Martinelli had the following information to offer round-two applicants. Her office will host an online chat to answer any last-minute application questions on December 17th. (Click here for more information.) And campus visits will be available throughout the winter break, though they’ll offer an abbreviated schedule since students will be on break. (To sign up for a campus visit, click here.)

Finally, she reminded applicants that the admissions office will be closed for the holidays on December 24th and 25th and again on December 31st and January 1st. Regular office hours will resume on Monday, January 4th.

Best of luck from all of us here at Clear Admit to round-one applicants awaiting notification on December 16th. Don’t forget that you can share your news and learn others’ fates on the Clear Admit Wiki.

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# posted by Clear Admit @ 1:00 pm in MBA News, School: Chicago

Tuesday, December 01, 2009

Trivia Tuesday: International Study Trips at Chicago, Columbia, Harvard, NYU Stern and Wharton

Welcome back to Trivia Tuesday, our weekly exploration of the details, distinctions and developments of the leading MBA programs.

Over the last decade, most business schools have sought ways to provide relevant, hands-on international business exposure within the confines of a two-year degree. The solution that many schools have arrived at is “study trips,” which allow students to spend 1-2 weeks exploring the business environment of another country over the summer or during a mid-semester break. Depending on the school, these trips may be organized through an elective course, by an administrative office, or through a campus student group.

For instance, the Chazen Institute at Columbia works with individual students and clubs to organize study trips to countries or regions of interest, while Chicago’s International Programs Office coordinates short-term summer exchanges to Austria, Brazil, France and Germany. Several other business schools offer students academic credit for their travel abroad. At HBS students are able to earn 1.5 credits for their work abroad over the summer between the first and second year, provided they keep a weekly journal and submit a final paper. At Wharton, however, study trips are often closely integrated into full-semester elective courses, with students participating in hands-on consulting projects with firms from outside the U.S.

At NYU Stern, the school’s one- to two-week long Doing Business In… (DBI) programs offer an appealing short-term alternative to spending an entire semester abroad. The program is usually offered in three selected locations each year and takes place outside of the normal academic calendar, usually between semester breaks or during Spring Break, making it easy for students to fit the program in at some point during their MBA. Each DBI includes one pre-trip class session and 8-10 full days of scheduled activities in the host country. Admission is by lottery, and classes are taught by the faculty of the host university; these faculty members also award the final pass/fail project or paper grades for the course.

In addition to the DBI programs, Stern also offers students the unusual opportunity to study abroad for 1-6 weeks with one of four partner universities in Argentina, Denmark, Germany, or South Korea. These courses usually take place in early- to mid-May, making it possible to arrange a summer internship start date around completion of the course. The one-, three- and six-week programs may earn students 1.5 to 6 credits toward graduation. Although many MBA programs allow students to study abroad for a full semester or to travel abroad as part of a course, few provide summer exchanges through which students can earn credit toward graduation.

As knowledge of other cultures and business practices becomes more important to the daily life of business, it will become ever more important for students to gain exposure to international business during the MBA program. Since study trips range from informal and self-directed to formal consulting engagements for academic credit, applicants may want to consider the type of study trip that would best complement their prior international experience and keep this in mind as they apply to MBA programs.

For more information on the details of schools’ study trip offerings, be sure to consult the Clear Admit School Guides! For applicants who are sure of their career goals and want to find out which MBA programs offer international study trips that best support these goals, check out the Clear Admit Career Guides!

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# posted by Clear Admit @ 8:50 am in Career Guides, School Guides, School: Chicago, School: Columbia, School: Harvard, School: NYU Stern, School: Penn / Wharton, Trivia Tuesday

Wednesday, November 11, 2009

Last Day for Round 1 Interview Invites from Chicago Booth

Today is the final day that the admissions committee at the University of Chicago Booth School of Business will issue interview invitations to round 1 applicants. In a post to her blog yesterday, Rose Martinelli, Chicago Booth director of admissions and financial aid, provided some tips to applicants who have been invited to interview on how best to prepare.

For starters, she advises applicants to be ready to answer basic questions about personal goals as they relate to the MBA in a clear and organized way. To prepare, Martinelli suggests thinking about and even writing down answers to the following questions:

• Can I clearly articulate my career plan and future goals? 
• What do I really want from my MBA experience? 
• What is my motivation to obtain an MBA? 
• Why is Chicago Booth the right place for me, and why am I right for Booth? 
• How do I plan to use my MBA in my career? 

She went on to remind applicants that much of the Chicago Booth interview is behaviorally-oriented, which is to say that many of the questions will ask you to describe how you behaved in certain situations in the past. So think about some key experiences you might want to use to address these types of queries, she suggests.

Last but not least, remember that the interview should be a two-way conversation between you and the interviewer. “Remember, the interviewer knows Booth well, but not you,” Martinelli writes. “Getting to know the person sitting across the table will help you to relax and relate your stories more effectively.” 

If you’ve landed an interview invitation at Chicago Booth, congratulations! For additional preparation tips, don’t miss the Clear Admit Chicago Booth Interview Guide, available in our shop. Also remember that you can share your experiences and learn from those of other applicants on the Clear Admit Wiki. Good luck!

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# posted by Clear Admit @ 1:00 pm in Interview Tips, MBA News, School: Chicago

Thursday, October 22, 2009

Global EMBA Programs Top Financial Times 2009 Rankings

Executive MBA (EMBA) programs have had trouble attracting as many students this year as they did last, with the exception of programs that feature classes taught across multiple continents. This according to data collected for the Financial Times’ 2009 EMBA ranking, released October 19th.

Among schools surveyed by the FT, overall enrollment in EMBA programs has dropped 9 percent – and it is believed to have dropped even more among lower-ranked schools. But multi-continent EMBA programs are proving the exception. They are the only programs to have increased enrollment this year, the FT reports.

Unlike regular MBA enrollment, which is often counter-cyclical to the economy, EMBA enrollment generally drops when times get tough, especially as corporate sponsorship dries up. But multi-continent programs are bucking the trend this year, and topping the FT rankings.

Each of this year’s top four programs is taught on at least two continents. They include partnerships between Kellogg and Hong Kong UST Business School (No. 1); HEC Paris, London School of Economics and NYU Stern (No.2); Columbia and London Business School (No. 3); and a program at the University of Chicago Booth School of Business taught in the United States, the United Kingdom and Singapore (No. 4).

Even with a price tag of more than $100,000, these and other multi-continent programs are still attracting students, including many who opt to sponsor themselves. According to Vince Frillici, a Washington, DC-based political lobbyist, his decision to pursue an EMBA now through the OneMBA program at the University of North Carolina’s Kenan-Flagler school is already paying dividends. ““I feel it is adding value for my clients already,” he told the FT.
 
Taught at five schools in Brazil, China, Mexico, the Netherlands and the United States, Kenan-Flagler’s OneMBA was particularly attractive to Frillici precisely because of its global scope. “It’s a cliché, but the whole world is like a global village,” he told the FT.

A change in format for part-time EMBAs has helped support the growth of multi-continent programs. In place of the evening and weekend format of years past, EMBAs now often feature a modular structure in which students study in one-week blocks.  “We find that people will fly one hour for each day [of the module],” dean of EMBA programs at INSEAD, told the FT.

To read the full FT Global EMBA special report article, click here. To view the interactive 2009 EMBA rankings, click here.

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# posted by Clear Admit @ 2:30 pm in EMBA, Part-Time/Executive MBA, Rankings, School: Chicago, School: Columbia, School: INSEAD, School: London Business School, School: NYU Stern, School: Northwestern / Kellogg, School: UNC / Kenan Flagler

Monday, October 19, 2009

Economist 2009 Business School Rankings Released

The Economist this week released its annual rankings of top business schools, with European schools IESE and IMD taking the first and second spots respectively, followed by Berkeley’s Haas School of Business, the University of Chicago Booth School of Business and Harvard Business School – in that order – rounding out the top five.

In an accompanying article, the Economist helps make sense of why business schools seem to fall in such different orders depending on the ranking you choose. For example, the University of Pennsylvania’s Wharton School barely made it into the top ten in the Economist’s ranking this year (up from 17th last year) but ties for number one (with London Business School) in the Financial Times’ 2009 rankings.

Why such disparity? Because the different publications that produce rankings – which include BusinessWeek, the Wall Street Journal and U.S. News & World Report as well as the FT and the Economist – employ different methodologies to compile their lists. According to the Economist article, that publication’s rankings rely heavily students’ own assessment of their time at business school and how their earning power and marketability increased upon obtaining a degree. This year at IESE, 98 percent of graduates found jobs within three months of graduation with an average basic salary of $125,000, propelling the Spanish school to the top of the list.

The FT’s rankings, meanwhile, focus on academic research as well as graduates’ salaries. And BW ranks U.S. and European schools separately. Hence the wildly different rankings of schools all in a single year. But as the Economist article point, even as different as they are – or perhaps, because they are so different – the rankings still serve a valuable purpose, which is to highlight the many different ways in which business schools can excel.

As always, those of us here at Clear Admit encourage you to consider the rankings as you try to decide which business school will best help you meet your individual goals, but only as one part in a comprehensive evaluation of schools.

To view the Economist’s rankings in their entirety, click here.

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# posted by Clear Admit @ 1:00 pm in School: Berkeley / Haas, School: Chicago, School: Harvard, School: IESE, School: IMD, School: Penn / Wharton

Tuesday, October 13, 2009

Attention: Future Investment Bankers!

If you want to pursue a career in investment banking, it makes sense to choose a business school program with a banking focus and an exceptional track record for placement in the field, right? That’s why we created the Clear Admit Career Guide to Investment Banking—a detailed guide to the programs that best support a career in i-banking. Based on extensive research into the nuts and bolts of a wide range of b-school programs and data about recruitment and placement after graduation, we selected fifteen top schools and provide detailed information for each about academics, extracurriculars, and career support.

For example, here is an excerpt about the faculty at Harvard Business School:

“Thirty-four professors identify investment banking as an industry of interest, and 15 of these specifically target investment banking as an area of focus for their research activities. The finance faculty includes a number of noted researchers, including one winner of the Nobel Prize in Economics.”

A grid of selected HBS Finance faculty—including the aforementioned Nobel Prize winner—is included in the guide, as well as course information and professional experience for each professor.

Another excerpt talks about recruitment at the University of Chicago Booth School of Business where recruitment events start early:

“Twice a year, the Chicago Booth Career Services Office organizes a Corporate Networking Night focused on financial services and corporate finance. Representatives from industry firms are invited to campus to meet students at an informal reception. One of these networking nights is held in late September for second-year students only, while both first- and second-year students are invited to attend the mid-November reception, More than 25 firms generally send representatives to these function.”

Early in the application process this guide will help identify a group of schools worth exploring, while later on it can serve as a basis of knowledge for essays and interviews, as well as a rich source of information about career outcomes and club activities. At the end of the process, this guide can ultimately help candidates make an informed decision about where to enroll.

So check out the Clear Admit Career Guide to Investment Banking for guidance at any stage of the application process—available for immediate purchase and download from the Clear Admit shop!

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# posted by Clear Admit @ 4:40 am in Career Guides, School: Chicago, School: Harvard

Thursday, October 08, 2009

Financial Times Reports Record Class Sizes at Top Business Schools, Drops at Other Schools

According to a Financial Times article last week, many top business schools are reporting record numbers of students this year, the result of higher-than-normal enrollment yields among admitted students. But still other schools are reporting drops in traditional yields. Overall, an unusual combination of factors this year seems to have made predicting class enrollment sizes far trickier than usual.  

The FT credited Edward Snyder, dean of the University of Chicago Booth School of Business, with predicting accurately that it would be unusually difficult to predict student enrollment this admission season. “This year, I think you can throw out traditional yield information,” he told the FT.

Indeed, yields at most top schools have surged this year, which is to say that higher-than-usual percentages of admitted students have chosen to enroll, resulting in record student numbers. Chicago Booth’s enrollment swelled to 592 full-time students, up from 577 last year and higher than ever before. The Wharton School at the University of Pennsylvania, which usually enrolls between 800 and 820 students, this year welcomed 862. Harvard, Stanford, the University of Michigan’s Ross School, and INSEAD also all report record-high enrollments this fall, according to the FT report.

At the same time, some schools have seen their yields fall off. An example is the Anderson School at UCLA. Admissions Director Mae Jennifer Shores attributed this year’s lower-than-normal yield to the fact that some prospective students opted to accept offers at schools with bigger brands. “There’s a lot of crossover between UCLA Anderson and the other top schools,” she told the FT.

Whether up or down, yield has been unusually difficult to predict this year in part because of competing theories about business schools and recessions, the FT reports. Some argue that an economic downturn makes for an opportune time to go back to school. Others counter that if you have a job, now’s the time to hold tight to it.

A drop in international student applications – the result of uncertainty around the availability of student loans and/or post-graduation jobs – has also made it more difficult for admissions offices’ to accurately gauge yield. Columbia Business School saw its yield drop this year, which Assistant Dean Linda Meehan attributes at least in part to a drop-off in overseas applications. Even so, she finds the overall drop in yield hard to understand. “This last year was a very different year and different from other downturns,” she told the FT.

To read the FT article in its entirety, click here.

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# posted by Clear Admit @ 2:24 pm in MBA News, School: Chicago, School: Columbia, School: Harvard, School: INSEAD, School: Penn / Wharton, School: Stanford, School: UCLA / Anderson

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• Top 10 Students:
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