The chat will take place in the Accepted chat room.

During our most recent MBA admissions chat, we hosted a busy event with the Consortium. Here are a few excerpts from the transcript.

Linda Abraham (Oct 20, 2009 7:05:14 PM)
To all the school reps, does the applicant ranking influence the evaluation of the application?

WendyHuberUVA (Oct 20, 2009 7:06:22 PM)
Linda, applicants should apply as if the schools do not see the ranking. Rankings are only looked at when we are deciding fellowships, they are not used in the admission decision.

JacquelynnDayROCHESTER (Oct 20, 2009 7:09:08 PM)
Linda: While we do consider an individual's rankings, we look at the application as a whole, therefore we encourage students to focus on submitting an overall competitive application

RTorres (Oct 20, 2009 7:05:50 PM)
What happens with applicants that apply to the Consortium and to the specific MBA programs at schools when they are not accepted into the fellowship? How are their MBA applications handled? Are they still considered by the schools?

ErinNicklesburgWISCONSIN (Oct 20, 2009 7:07:59 PM)
RTorres: Each applicant is evaluated independently by each school in terms of both admission and Fellowship decision. An offer of admission does not indicate a guaranteed Fellowship offer, as they are separate. The admission offer will stand regardless of the Fellowship offer. If a Fellowship offer is not given, the applicant will go into the general merit-based aid pool.

AmyPR (Oct 20, 2009 7:12:34 PM)
What is the difference between the November application date and the January application date? Do chances of acceptance increase one date vs. the other?

LaurieShunneyCORNELL (Oct 20, 2009 7:15:21 PM)
AmyPR- Competitiveness for admission and scholarship may increase in later rounds. In general, we recommend submitting the strongest application possible. If you are prepared to apply during the November round, it may help.

• Tepper
• Darden
• Emory
• NYU Stern
• Wisconsin
• Yale SOM
• Washington
• Rochester
• Kelley
• Cornell
• Marshall

If you are interested in the Consortium, its missions, simplified application process, and fellowships, be sure to participate in the chat in Accepted's chat room.

I also want to let you know that we posted the transcript of last week's NYU Stern Admissions Director Chat with Anika Davis Pratt, Assistant Dean of MBA Admissions & Financial Aid; Isser Gallogly, Executive Director of MBA Admission; Paula Steisel Goldfarb, Senior Director of MBA Admissions & Financial Aid; and Emily Zwanziger, NYU Stern Class of 2010. Check it out in full, but for now, here are a few excerpts.:

naman (Oct 14, 2009 11:13:19 AM)
Isser: Stern MBA is traditionally renowned for finance, probably due to its location in NY. This is also supported in the recruitment profile for the last few years. How competitively are Stern MBAs (in other areas, specifically, consulting) viewed by the recruiters when compared with other top business schools?

IsserGalloglyNYU (Oct 14, 2009 11:17:16 AM)
Naman - Stern is great across the board. In consulting, we had recruiters from Bain, McKinsey, BCG, Deloitte & Booz plus many others hire students. In fact, McKinsey and BCG were two of our top recruiters this year for the class as a whole.

IsserGalloglyNYU (Oct 14, 2009 11:19:31 AM)
Naman- Another reason we do so well in Consulting is the students IQ+EQ. Not only are our students really smart, but they have superior interpersonal skills. Part of the reason we do the interview process the way we do is to get people with great EQ (emotional intelligence quotient). Recruiters really notice and appreciate that aspect of our students.

lcpink12 (Oct 14, 2009 11:18:58 AM)
Anika: What % of students does a term abroad on exchange? How much does this affect recruiting/interviewing on campus?

AnikaPrattNYU (Oct 14, 2009 11:24:16 AM)
LcPink12: Over 300 full-time and part-time students participate in our international programs each year. This includes semester exchange, our popular Doing Business in (DBi) program, and short-term opportunities in the summer. About 60 participated in semester exchange, 250 participated in the DBi trips, and 9 participated in short-term study. Students typically choose their semester to go abroad based on the recruiting schedule for their career of interest. If you want to immerse yourself fully in NYC, the DBi program is ideal because it is a one to two week format.

Linda Abraham (Oct 14, 2009 11:20:04 AM)
Isser what is unique about NYU's interview process that hones in on EQ?

IsserGalloglyNYU (Oct 14, 2009 11:29:04 AM)
Linda-There are a few things that are unique about our interview process. It is by invitation only - we only ask to meet you if we are very serious about you after reviewing the application. About 60% of those interviewed are admitted, about 30% of those who apply are selected to interview. The interviews are almost always here in NYC at Stern and conducted by a trained admissions professional. You have 30 minutes to make your case in person to the committee. The interview is not blind. The interviewer will have studied your application and ask you deeper and more specific questions. While you are at Stern, you may visit a class and have lunch with a student (depending on the time of year). If you apply to Stern, save some vacation days and money to fly here for your interview. We take the interview very seriously and it's a unique part of our process.

AnikaPrattNYU (Oct 14, 2009 11:29:09 AM)
Naman: NYU Stern is a great place to be if you want a career change into Consulting. Typically, over half of our incoming class plans on making a career change. At Stern, programs like the Industry Mentoring Initiative (IMI) partner with lead consulting firms and senior executives to mentor students changing careers into consulting. In addition, our student club - the MCA - has a rigorous casing training and prep leading up to consulting interviews -- just to mention a couple of the great resources here at Stern.

If you are interested in NYU Stern, review the chat transcript. The Stern representatives provide meaty, specific answers to a broad range of applicant questions.

• Cornell Chatter, an Accepted.com online Q&A session, on Monday, October 12, 2009 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT when Randall Sawyer, Director of Admissions, along with other staff members will answer your important questions. Use this outstanding opportunity to ask questions about Cornell’s close-knit student life, admission policies, and programs. Join us on October 12th!
• NYU Stern Admissions Directors' Online Chat On Wednesday, October 14, 2009 at 9:00 AM PT/12:00 PM ET/ 4:00 PM GMT, Stern’s impressive adcom team, including Anika Pratt, Assistant Dean, MBA Admissions and Financial Aid; Isser Gallogly, Executive Director, MBA Admissions; and Paula Goldfarb, Senior Director, MBA Admissions and Financial Aid will be available to answer your questions. From NYU's flexible core curriculum, to its exclusive NYC connections, this is your opportunity to find out everything you wanted to know about the NYU Stern MBA.

Both chats will take place in Accepted's chat room.

We also posted last week's Columbia Admissions Q&A with Linda Meehan, Assistant Dean of Admissions and Financial Aid at Columbia Business School. Here is an excerpt:

jonathan (Oct 1, 2009 12:08:16 PM)
Is there any chance Columbia will have a no co-signer loan program for Fall 2010? And is this affecting the volume of non-U.S. applicants?

LindaMeehanCOLUMBIA (Oct 1, 2009 12:08:56 PM)
Columbia continues to explore opportunities for an international non-cosigned loan. Our applications last year increased 15% overall, with an increase both domestically and internationally. Columbia Business School continues to be among the top most international schools, both in terms of its educational offerings and its international diversity. No, this is not affecting the volume of non-U.S applicants. Given that our acceptance rate is exceptionally low, making it one of the most selective schools in the world, we are unable to admit everyone whom we'd like to welcome to our program.

GS (Oct 1, 2009 12:26:02 PM)
Linda: If you are switching careers, then how do you convince the admission committee that you are a strong candidate for MBA? Since you have no relevant experience, and your current field is no where near the business field. What exactly does the Columbia admission committee look for in an application?

LindaMeehanCOLUMBIA (Oct 1, 2009 12:27:47 PM)
GS, most students will probably switch careers. In the evaluation process, we are evaluating how well you know yourself and how your skills and talents will apply to your future goals. Also, we look to determine how Columbia Business School will help you to achieve them. We are evaluating how well you know yourself and how realistic you are about what may be achievable. Also, your job is not to 'convince' us, your job is to 'inform' us.

If you are interested in Columbia, take a few minutes to review the transcript.

We also have posted the transcript from the Notre Dame Mendoza MBA Admissions Q&A with Brian Lohr, Director of MBA Admissions, and other members of the Notre Dame staff:

Ghouse (Sep 24, 2009 12:09:30 PM)
John: Hello - I am looking to specialize in Entrepreneurship and VC. What prospects or career lines do student, with these concentrations, get into after graduations? Do you know off-hand any companies that visited campus looking for these concentrations?

JohnRooneyNOTREDAME (Sep 24, 2009 12:13:34 PM)
Ghouse - Entrepreneurship students go into three main areas: 1)Companies that value entrepreneurship (P&G, J&J, IBM are a few that come to campus. 2) They start their own ventures/businesses. 3) They work with start-ups (this is the smallest segment since start-ups look for more functional support vs. MBA graduates. The Gigot Center for Entrepreneurship is the center of this activity and the recently opened ND Innovation Park is an area of growth--be sure to check out the Gigot Center and ND Innovation Park on the web.

phoenix27 (Sep 24, 2009 12:15:48 PM)
Brian: Has your school had an increase in applications or decrease of applications since the recession?

BrianLohrNOTREDAME (Sep 24, 2009 12:16:31 PM)
Phoenix, we had a 33% increase in our domestic applications last year.

You can review the full Notre Dame Mendoza Q&A transcript by clicking on the link.

My comments are in red.

To ensure the depth and dynamism of the Johnson School education, we seek to enroll a class composed of students whose insights are distinct and whose actions are penetrating. The essay portion of your application gives you the opportunity to candidly demonstrate your attributes and your compatibility with our rich and vibrant program.

MBA/AMBA - Essays 1, 2 and 3 are required essays. Essay 4 is optional. All re-applicants are required to complete essay 5. Please observe the 400 word maximum limit for each essay.

The essay portion of your application gives you the opportunity to candidly demonstrate your attributes and your compatibility with our rich and vibrant program. Formatting suggestions: 12 pt. font, Times New Roman, single spacing. Please observe the 400 word limit for each essay.

*indicates a required field:

Essays Required for All Applicants:

1) Describe your greatest professional achievement and how you added value to your organization. (400 word limit) *

Your greatest needs to have had impact -- saving money, raising revenue, increasing prestige, adding clients/customers, or contributing to the achievement of some other organizational goal.

As you answer this question, keep in mind Johnson's general management, team, and project orientation. I am not saying that sitting in a lab in isolation and elegantly solving a long-standing mathematical problem won't help you at all. But I suspect that working with multiple stakeholders on a marketing plan that resulted in gang-buster sales would carry more weight.

2) What career do you plan to pursue upon completion of an MBA degree and why? How will the Johnson School help you achieve this goal? (400 word limit) *

Goals question. I recommend you try to choose an achievement for #1 that can be a corner stone of your future career, demonstrate your talent for it, or at least relate to it. Doing so will save you precious words when answering the "why" of this question. You still need to discuss your reasons for your goals, but if #1 partially answers the question or provides context, then most of #2 can focus on what you want to do and why Johnson.

3) You are the author for the book of Your Life Story. Please write the table of contents for the book.
Note: Approach this essay with your unique style. We value creativity and authenticity. (400 word limit)*

Have a little fun with the question. You can reveal something about your youth, influential experiences or people, challenges, hobbies, interests, passions... It's Your Life Story. 

Essay Required for All Re-applicants: How did you strengthen your application since you last applied to the Johnson School?(400 word limit)

This is the key question that has to be addressed by all MBA re-applicants. Why are you a better applicant now than you were when they rejected you last time?

Optional Essay: Complete this essay if you would like to add additional details regarding your candidacy. For instance, if you believe one or more aspects of your application (e.g., undergraduate record or test scores) do not accurately reflect your potential for success at the Johnson School. (400 word limit)

Given how little Johnson requests, I encourage you to write the optional essay. Just make sure you are submitting an informative optional essay that complements the required essays and adds to the reader's knowledge of you and your qualifications.  If you do not have something to explain, this optional would be a great place to explore in depth a non-professional interest or commitment of yours.

If you would like help with your Johnson, application, please consider Accepted.com's MBA admissions consulting and essay editing and specifically our Cornell Johnson Comprehensive Packages.

REMINDER: Cornell Johnson's Randall Sawyer, together with other Adcom Reps, will be Accepted's guests at an admissions chat on October 12th at 10:00 AM PT/1:00 PM ET/ 5:00 PM GMT.

Cornell Johnson 2010 MBA Application Deadlines

* Suggested application deadline for international applicants
# Last date for scholarship consideration

Source: Cornell Johnson 2010 MBA Deadlines (http://www.johnson.cornell.edu/academic/mba/guide/dates.html)
Source: Cornell Johnson 2010 MBA Essay Questions (https://emt.askadmissions.net/johnson_cornell/emtinterestpage.aspx?ip=startapp)
Related: Cornell Johnson B-School Zone (http://www.accepted.com/mba/CornellJohnson.aspx)
Related: Cornell Johnson Comprehensive Editing Packages (http://www.accepted.com/services/servicesdetails.aspx?serviceid=255)

For the US, the top 10 is:

1. Stanford
2. Dartmouth (Tuck)
3. Harvard
4. Chicago (Booth)
5. Pennsylvania (Wharton)
6. Columbia
7. Cornell (Johnson)
8. Northwestern (Kellogg)
9. Virginia (Darden)
10. Yale

The lead article associated with the rankings has additional noteworthy data-points:

• Although most graduates at top MBA programs see a significant return on the MBA investment, rising tuition and pre-MBA salaries mean that breaking even (not to mention profiting financially) takes a little longer than it has in the past.
• "Europe is home to the seven best business schools when it comes to a return on your investment, led by top-ranked INSEAD, whose graduates had a five-year gain of $192,000."
• Forbes plans to publish its Best Business Schools report annually in the future, instead of biannually as it has in the past.
• Excellent piece on "How to Get Into Business School" by Matt Symonds.

The rankings also includes articles about the individual programs including a worthwhile piece on entrepreneurship at INSEAD.

If you're curious about my views on rankings, please see The Rankings.

This post introduces a new weekly feature intended to help MBA applicants to assess their readiness for the quantitative elements in the first-year MBA curriculum.

Thousands of incoming admitted students each year use the self-paced, online MBA Math quantitative skills course to build a solid quant foundation for the MBA core curriculum. Of greater interest to readers of this blog are the many MBA applicants who complete the course and submit their MBA Math transcript as part of their admissions package.  Some applicants do so at the recommendation of admissions officers; others complete the course on their own initiative.

As a complement to the GMAT's aptitude focus, MBA Math's focus is proficiency with the most MBA-relevant quantitative basics of finance, accounting, economics, statistics, and spreadsheets.

Let me briefly introduce myself. My name is Peter Regan. I created the MBA Math course based on years of teaching multi-day pre-orientation quant skills courses at Dartmouth's Tuck School and Cornell's Johnson School. I also teach second-year decision consulting courses at Tuck and Duke's Fuqua School.

Each Monday, I'll post a sample exercise and a step-by-step solution with audio commentary. Exercises will cycle through finance, accounting, economics, and statistics, becoming progressively harder with each iteration.

Business School Rankings and methodology

1. Harvard
2. Stanford
3. Northwestern Kellogg
3. Wharton
5. MIT Sloan
5. Univ. of Chicago
7. UC Berkeley Haas   
8. Dartmouth Tuck
9. Columbia
10. Yale

Law School Rankings and  Methodology
1. Yale
2. Harvard
2. Stanford
4. Columbia
5. NYU
6. UC Berkeley
6. Univ. of Chicago
8. Penn
9. Univ. of Michigan
10. Duke
10. Northwestern
10. University of Virginia

Medical School Rankings (Research) and Methodology
1. Harvard
2. Johns Hopkins
3. Penn
3. Washington U (St. Louis)
5. UCSF
6. Duke
6. Stanford
6. Univ. of Washington
6. Yale
10. Columbia

A few caveats: My strong recommendation is to use the rankings as a library of raw data conveniently compiled in one location and not as a tried and true guide of educational quality. They are not the latter. They are the former. To the extent you are going to use the rankings as a guide to school reputation and brand value, you must understand the methodology behind them and what they are measuring. Be cognizant of the differences between what is important to you and what is important to the rankings.

A few observations on the rankings themselves:

1. There are many ties in the rankings, which implies that the differences in reputation are almost imperceptible when talking about closely ranked programs. For example the difference between being "in the top ten" and out of the top ten (i.e. #11) for medical (research) programs is 1 point, for the top law and business schools it's  2 points. Don't get hung up on these differences.
2. The "top ten" changes little from year to year. In most cases, if you compare these rankings to the 2009 version, it looks as if US News just reshuffled the deck a tiny bit.

For more on rankings, please see:

• The Rankings (Part 1 of 5) A multi-part series that just concluded.
• Rankings: Controversy and MagazineSales
• Thoughtful Dean Looks at Rankings
• Law School Admissions: Study Says Rankings Influence DecisionMakers

You will find in the special report articles on:

• Applying while or after a layoff.
• The series "MBA in Finance: Forget It?"
• The disappearance and reappearance of financial aid options.
• The wisdom of applying during times of financial uncertainty.

Please feel free to download and share Applying to Business School in Times of Crisis.

Please also use the comments to share your thoughts on the topics discussed in this special report.

• Duke's Fuqua School of Business will offer a master's program aimed at recent graduates with little or no work experience starting in August 2009. The program will provide a Masters in Management Studies ("MMS") and consist of 12 business courses taught over four six-week terms or nine months.  Participants can have a bachelors, masters, or doctoral degree, but little or no formal business education. It is in direct competition with London Business School's Masters in Management program.
• Natalie Grinblatt Epstein and I took questions from waitlisted applicants during a lively MBA waitlist chat last week. The first topic : The ABC's of Getting Accepted from the Waitlist. For the whole alphabet, see the transcript. 
• Thank you. Thank you. We have crossed the 1000 vote threshold in Start-Up Nation's Leading Moms in Business contest. You can still vote, and please do. The contest ends March 31, and I have no idea if we are among the winners.
• We will announce the judges for the Beautiful B-School Photo Contest next week. Whether you visited a school earlier, are attending an admit weekend in the next few weeks, or just got invited to interview, please submit your pics. You could win a $200 Amazon gift certificate. 
• If you are on a law school waitlist, buy The Nine Mistakes You Don't Want to Make on a Law School Waitlist and save 20% through March 31, 2009. That's Tuesday.
• London Business School's MBA/MiF chat transcript is now online. 
• 2009 Cornell Johnson MBA Waitlist Chat transcript is now online.

Maverick refers to a "waitlist appointment" in his post.  If you are lucky enough to be waitlisted at a school that provides feedback to waitlisted applicants, then by all means follow the advice he gives. Review your application for weaknesses, discuss how you can address them during your appointment, and follow the meeting with appropriate action.

However, many if not most, top schools do not provide such feedback.  They rely on you to do your own self-assessment and act on it.  In that case:

1. Follow the instructions provided by the school.
2. Review adcom blogs and chat transcripts for additional tips for waitlisted applicants. Accepted has 25 chat transcripts devoted to MBA waitlist topics going back to 2000, including several so far this year. In addition, you may find tips for waitlisted applicants in recent general MBA admissions transcripts.
3. If you believe there is a weakness in your application, let the school know what you have done to improve in that area. Have you raised your GMAT score? Have you taken a class in math or writing to prepare for b-school and address a weakness? Have you taken a leadership position in community service, which you had neglected since college?
4. Inform the school of recent positive developments like a promotion, new project, published article, community service initiative or success, etc. The schools want to admit dynamic, growing individuals.
5. Show fit and interest -- provided the school is interested in hearing from you.
6. Be considerate of the adcom's time. Send in relevant, meaningful, and succinct information. You are not paid by the word to write, and they aren't paid by the word to read. If you send in reams of garbage -- a cross between spam and junk mail -- you will earn yourself a ding. 

We are hosting several chats devoted to the MBA waitlist in the next several weeks:

• Accepted's MBA waitlist chat is this Thursday March 19 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT. Natalie Grinblatt Epstein will join me in responding to questions. Natalie served previously as Director of Admissions at Michigan's Ross School of Business, Cornell's Johnson School of Business, and Arizona State's W. P. Carey School of Business.
• Cornell MBA Waitlist Chat with Randall Sawyer on March 25, 2009 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT.
• Michigan Ross MBA Waitlist Chat with Soojin Kwon Koh on March 30, 2009 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT .
• MIT Sloan MBA Waitlist Chat with Jennifer Burke Barba on April 7 at 10:00 AM PT/1:00 PM ET/5:00 PM GMT.

Please feel free to join us on Thursday if you are on an MBA waitlist and for the school-specific chats if you are waitlisted at any of these programs.

You can obtain more detailed advice in The Nine Mistakes You Don`t Want to Make on an MBA Waitlist, our bestselling ebook ever. And of course, Accepted's experienced staff is available to help you one-on-one with your MBA waitlist strategy and correspondence.

Source: The Nine Mistakes You Don`t Want to Make on an MBA Waitlist (http://www.accepted.com/Ecommerce/MBAWait/MBAWaitList.aspx)