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.

The Top 10 per Aspen:

1. York (Schulich)
2. Michigan Ross
3. Yale SOM
4. Stanford GSB
5. Notre Dame (Mendoza)
6. UC Berkeley (Haas)
7. RSM Erasmus
8. NYU Stern
9. IE Business School
10. Columbia

If you are not the least bit interested in the topics Aspen is highlighting, then this ranking is irrelevant to you. However, if you are interested in sustainable development or social entrepreneurship, then you will want to review the profiles contained in Beyond Grey Pinstripes.

• 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.

• Take 2 -- Accepted is hosting its first-ever MBA reapplicant webinar on Thursday Aug 6 at 1:00 PM ET. The webinar is free. Just register to obtain access information.
• MIT Sloan MBA Admissions Chat. MIT Sloan will launch our 2010 MBA admissions chats on Wednesday Aug 12 at 10:00 AM PT/1:00 PM ET when Jennifer Burke Barba, MIT Sloan's Assistant Director of MBA Admissions, and other members of the MIT community will participate in this chat devoted to MIT's admissions policies, program, and student life.
• GRE vs the GMAT. Wharton recently joined Harvard, Stanford, and MIT in accepting the GRE in lieu of the GMAT. BW provides background on the competition between the GRE and the GMAT.
• NYU Stern gets new dean. NYU named Peter Blair Henry – the Konosuke Matsushita Professor of Economics at Stanford University – as dean of NYU’s Leonard N. Stern School of Business. He will assume the deanship effective January 15, 2010.
• The disappearing international student.  Alison Damast of Businessweek reports on declining international enrollment at MBA programs in the United States.

Normally I post the deadlines for your convenience. However Stern will post its deadlines later this month. The deadlines from last year that currently appear on Stern's website are unlikely to change, but are still not set.

My comments are in red: Stern's tips are italicized.

Please note the following details when completing the Essays section of the standard online application.

The following essay questions give you the opportunity to more fully present yourself to the Admissions Committee and to provide insight into your experiences, goals and thought processes. Your essays should be written entirely by you. An offer of admission will be withdrawn if you did not write your essays. Please note the following:

• Essays 1, 2 and 4 must be typed and submitted using the standard U.S. 8 1/2” x 11” format, double-spaced, in 12-point font.

• Please adhere to the essay word limits provided for each question.

• Word limits apply to the total question. For example, your response to Essay 1 should answer part (a), part (b) and part (c) with a maximum of 750 words.

• Label the top of each essay with the following: Name, Date of Birth (month, day, year), Essay Number and Page Number (e.g.: Joe Applicant, January 1, 2001, Essay 1, Page 1)

Essay 1. Professional Aspirations

(750 word maximum, double-spaced, 12-point font)

Think about the decisions you have made in your life. Answer the following:

(a) What choices have you made that led you to your current position?

(b) Why pursue an MBA at this point in your life?

(c) What is your career goal upon graduation from NYU Stern? What is your long-term career goal?

This version is almost identical to last year's question, with an added long-term goal question in part c.  Stern wants to know about your career decisions in the past, your reasons for an MBA now, and your plans for the future. A classic goals question, this question asks you to show the logic behind your career development and how an MBA at this point in time will help you achieve your short and long-term goals.

The part of the question asking about your "career goal upon graduation" is a critical one. Are you realistic about where your past experience plus a Stern MBA can take you? Stern doesn't want people in la-la-land who will be impossible to place.

Finally make sure you answer all elements of the question within the word limits (not guidelines). No adcom member sits there and counts words, but the readers can tell when you are significantly over. "Significantly" in my book is more than 10%. Write succinctly.

Admissions Tips:

• Listen to our podcast: Writing your Story.
• Proofread your essays carefully.
• Make sure you have fully answered the essay questions.
• Be genuine in your essays - tell us about the real you.
• Follow the essay instructions, including word limits and font size.

Essay 2. Your Stern Experience

(500 word maximum, double-spaced, 12-point font)

We take great care to shape the Stern community with individuals who possess both intellectual and interpersonal strengths. We seek individuals who are highly intelligent, collaborative, and committed to flourishing as Stern leaders. Please answer the following questions:

(a) What is your personal experience with the Stern community? Tell us what actions you have taken to learn about us.

(b) Describe what most excites you about Stern from both an academic and extracurricular perspective.

(c) How do you anticipate making your mark on the Stern community? Be specific about the roles you will take on and the impact you hope to achieve.

Have you attended MBA fairs? Stern receptions? Have you visited campus, corresponded with or talked to students and recent alumni? Reviewed Stern's web site and printed material? Talked to possible employers? Read blogs of current NYU students? If you take any of those steps, let Stern know what you have done and how that research clarified for you both how you would contribute and how you would benefit by joining the Stern community.

Parts b & c are new, but flow logically from part a. Based on your research, what do you find most attractive? What would motivate you to attend Stern if you have multiple acceptances? And again based on your research, how do you intend to contribute to the rich communal life at Stern. Stern has many avenues for involvement: experiential  learning opportunities, clubs, events, community service. What's your niche?  Show that you have done your homework about Stern.

Admissions Tip:

• To see if Stern is a fit for you, come visit us in New York City.

Essay 3. Personal Expression

Please describe yourself to your MBA classmates. You may use almost any method to convey your message (e.g. words, illustrations). Feel free to be creative.

All submissions become part of NYU Stern’s permanent records and cannot be returned for any reason. Please do not submit anything that must be viewed or played electronically (e.g. CDs, DVDs, MP3s, online links), that is perishable (e.g. food) or that has been worn (e.g. used clothing). If you submit a written essay, it should be 500 words maximum, double-spaced, 12-point font.

If you are not submitting Essay 3 online, you are required to upload a brief description of your submission in your online application. Please note that on the online application checklist, you must select "Submitted Online" for Essay 3 even if you are mailing it.

To submit Essay 3 by mail, please follow the mail and labeling instructions and ensure it is postmarked by the deadline. Also, note that supplemental Essay 3 packages are subject to size restrictions. Essays that exceed the stated size restrictions will not be accepted for review by the Admissions Committee. Please see the table below for the maximum package size guidelines:

Bribes don't work either. Candidates can get very creative with this essay and use different media (other than culinary and electronic), but for the majority of you who will convey your ideas in words, think of how you describe yourself in a social setting, meeting people for the first time. If it's the first day of class or a mixer early in the pre-term, how would you break the ice? Would you try to set up a tennis game or golf match? Would you find someone to explore NYC's museums? Or do you hate museums and prefer the outdoors? What would you say if you were in the campus coffee shop and sat down with some new classmates? Could you create a dialog? A short skit?

Hint: Don't use your four Chicago PPT slides.

Admissions Tip:

• Listen to Isser Gallogly, Executive Director of MBA Admissions, discuss Essay 3 on Public Radio's "Marketplace". (Before listening, note that we now have new Essay 3 size restrictions.)

Essay 4. Additional Information (optional)

Please provide any additional information that you would like to bring to the attention of the Admissions Committee. This may include current or past gaps in employment, further explanation of your undergraduate record or self-reported academic transcript(s), plans to retake the GMAT and/or TOEFL or any other relevant information.

• If you are unable to submit a recommendation from a current supervisor, you must explain your reason in Essay 4.
• If you are a re-applicant from last year, please explain how your candidacy has improved since your last application.
• If you are applying to a dual degree program, please explain your decision to pursue a dual degree.

Obviously if you fit into one of the categories described in the 3 points above, you need to write this essay. If you don't fit into the above categories and have something you want the admissions committee to know that isn't part of the required essays, then you still should write this optional essay.

If you would like help with your NYU Stern MBA application, please consider Accepted.com's MBA essay editing and admissions consulting or a NYU Stern Comprehensive Package, which includes essay editing, interview coaching, consultation, and a resume edit for the NYU Stern MBA application.

Stern has posted its questions and provides extensive directions and tips to help you respond to them. I am just going to post the basic questions for the moment. For the detailed directions, please visit the Stern website.

This year's questions are very similar to last year's;#2 is somewhat changed. My tips will come later.

Essay 1. Professional Aspirations
(750 word maximum, double-spaced, 12-point font)

Think about the decisions you have made in your life. Answer the following:

(a) What choices have you made that led you to your current position?
(b) Why pursue an MBA at this point in your life?
(c) What is your career goal upon graduation from NYU Stern? What is your long-term career goal?

Essay 2. Your Stern Experience
(500 word maximum, double-spaced, 12-point font)

We take great care to shape the Stern community with individuals who possess both intellectual and interpersonal strengths. We seek individuals who are highly intelligent, collaborative, and committed to flourishing as Stern leaders. Please answer the following questions:

(a) What is your personal experience with the Stern community? Tell us what actions you have taken to learn about us.
(b) Describe what most excites you about Stern from both an academic and extracurricular perspective.
(c) How do you anticipate making your mark on the Stern community? Be specific about the roles you will take on and the impact you hope to achieve.

Essay 3. Personal Expression
Please describe yourself to your MBA classmates. You may use almost any method to convey your message (e.g. words, illustrations). Feel free to be creative.

All submissions become part of NYU Stern’s permanent records and cannot be returned for any reason.Please do not submit anything that must be viewed or played electronically (e.g.CDs,DVDs, MP3s, online links), that is perishable (e.g. food) or that has been worn (e.g. used clothing). If you submit a written essay, it should be 500 words maximum, double-spaced, 12-point font.

Essay 4.Additional Information(optional)
Please provide any additional information that you would like to bring to the attention of the Admissions Committee. This may include current or past gaps in employment, further explanation of your undergraduate record or self-reported academic transcript(s), plans to retake theGMATand/orTOEFL or any other relevant information.

If you are unable to submit a recommendation from a current supervisor, you must explain your reason in Essay 4.

If you are a re-applicant from last year, please explain how your candidacy has improved since your last application.

If you are applying to a dual degree program, please explain your decision to pursue a dual degree.

Certain terms came up in almost every presentation. Co-author with me of MBA BlastOff: 45 Terrific Tips to Launch Your MBA Application to Acceptance and MBA I.V.: Mainline to Top MBA Programs MBA Interview Questions and Tips, Maxx Duffy, has a useful term for words that tend to be overused in admissions because they represent important values: "umbrella words." As a consequence of this overuse, qualities like leadership are best broken down and demonstrated than talked about in their umbrella form.

Similar treatment is appropriate for umbrella-words-in-training -- the terms that came up over and over again in connection with almost every school at the conference. It's important for you to know how to relate to the latest and greatest buzz on the MBA scene. Merely parroting it won't do. Like the school representatives, you need to go deeper. Let's examine the most common of these terms:

• Experiential learning. Almost every school touts its experiential learning opportunities. So don't write or talk about "experiential learning." Discuss how each school's particular experiential program is right for you. Reveal how Haas@Work will help you achieve your goals in your Haas application; or why Stern's Industry Mentoring Initiative is the perfect program for you because you are a career changer committed to a particular direction; or how Columbia's Master Classes represent the ideal opportunity to put theory into practice, a process you have enjoyed on a previous, specific occasion. Understand the nuances and points of difference between these programs to show that you have done your homework and really belong at your target schools.
• Sustainability. Green is the color of the day, and I'm not just talking about Twitter avatars in sympathy with Iranian demonstrators. Don't write vaguely about "sustainability." Will you participate in INDEAVOR, The Energy Club, The Africa Initiative, or all the above at INSEAD to further your interest in renewable energy and entrepreneurship? Which of the almost twenty courses that study sustainability at Darden are you most interested in? How will you take advantage of the Batten Institute's resources as you dive into sustainable development in emerging markets?
• Global. Global everything was everywhere at the conference. Ross sends roughly 50% of its MAP projects outside the US to roughly 30 countries. Yale has a required International Experience in its core and hosts a Global Leadership in Healthcare Conference with other professional schools at Yale. Which aspects of your target schools' global offerings are relevant to your goals and interests? If they are relevant, don't talk about study abroad or international projects; talk about the particular programs that are attractive to you, and why they appeal.
• Flexibility. Several programs emphasized the increased flexibility of their programs. Both Tuck and Columbia have decreased the number of required courses and introduced mini-courses or seminars. Stern gives you a wide range of options in terms of designing your program. Yale allows you to take almost all second-year electives outside of SOM. How does your school's flexibility assist you in reaching your MBA goals? What level of flexibility is important to you?

These terms reflect important concepts in graduate business education today, but if you write about them superficially, you will appear .... superficial. Don't reflect merely the shallow buzz in your application. Study and understand the points of difference by scouring school web sites and attending presentations. Just as the AIGAC presentations went beyond the superficial to the substantive, so will your receptions and presentations.  

Ensure your applications reveal a profound grasp of the distinctive currents among outstanding MBA programs, like those that presented to and hosted AIGAC last week. 

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.