Real World. Real Learning: IMD MBA Admissions Q&A

  

 According to BusinessWeek, “global MBA programs are showing themselves to be more selective, more rigorous, and more desirable to recruiters.” Shouldn’t you explore the possibility that IMD‘s intensive, 10-month MBA will be a better fit for you? Come learn about IMD’s admissions policies, program, and student life in our interactive Q&A on Tuesday, June 14, 2011 at 8:00 AM PT/11:00 AM ET/5:00 PM Swiss time, with Lisa Piguet, Associate Director of Admissions and Marketing. Don’t miss your chance to discover why IMD’s unique business approach, “Real World. Real Learning,” has made the program a leader in the global business scene.

Register now to reserve your spot for the IMD MBA Q&A.

What time is that for me? Click on the link to find out the exact time for your location.

Photo credit: LouisL

Accepted.comAccepted.com ~ Helping You Write Your Best

IMD 2011 MBA Application Questions, Deadlines, Tips

This IMD 2011 MBA Application tip post is one of a series of posts providing MBA application and essay advice for applicants to top MBA programs around the world. You can access the entire series at http://blog.accepted.com/acceptedcom_blog/tag/2011-mba-application-tips. My tips for answering IMD’s essay questions are in blue below.

The Two Questions Before the Essay Questions:

1) Position sought after graduation

Please give us your short term career goal post MBA (up to 5 years). Describe how the IMD MBA will help you achieve this goal and how you will approach your job search.

Forward-looking, connect-the-dots MBA goals question with a twist. To answer this question, you need to know what you want to do after you complete IMD’s short, intense programs, and you also need to relate how that program will help you achieve your MBA goal. Finally, you have to show that you have a plan for your job search. That last element implies that you know what IMD career services provides and how you intend to use and supplement it.

2) Most important achievement

What do you consider to be your single most important achievement and why?

Your single most important achievement should ideally show impact, leadership, and cross-cultural and cross-functional savvy. If you can’t have all the above, make sure you have at least two.

You have room here for a story. Don’t think for an instant that IMD wants the great American novel for this essay. Keep it succinct, but this essay should engage the reader. Afterall, it is your most important achievement. You may want to review a few of these resources before writing:

Finally, realize that the “why” is as important as the “what.” Convey those reasons in your response.

IMD 2011 Essay Questions

Essay 1: Two situations of importance to you

Situation 1 (maximum 1230 characters)

Situation 1 (maximum 1230 characters)

Before responding to any of IMD’s questions, review its criteria for admissions, which are posted on its website and in a video on YouTube.

Then choose two experiences that demonstrate the qualities IMD seeks and complement each other, the other essays, and the other elements in your application.

Realize that the character limits work out to around 200 words, and that is not a lot of room. Be succinct, and include both the challenge and why you think it is worth including in your IMD application. Why do you care about it?

Essay 2: Failure to reach objective

Briefly describe the failure — and make it a real one, taking responsibility for your actions and showing self-awareness. Bring out what you learned and how you have implemented those lessons successfully in more recent situations.

Essay 3: Leadership

Describe a situation where you had to demonstrate strong leadership skills. Explain how effective you were and what you learned. (maximum 1230 characters)

Leadership takes many forms, but it usually involved persuasion and motivation of others. What did you do? What was the impact? And what did you learn — what worked and why? Have you had occasional to repeat the experiment subsequently with equally beneficial results?

Essay 4: Describe yourself

How do you imagine your superior would describe your strengths and weaknesses to someone who does not know you. (maximum 1230 characters)

Take a look as a recent review from your boss. You will probably find a good source there. You may also want to review:

Essay 5: International Exposure

Describe a situation where you successfully worked across cultures and/or nations. (maximum 1230 characters)

This is a very important essay for IMD, a school that values its global culture and cross-cultural experience. Describe the situation briefly, a challenge unique to international work environments, and how you met it. If you have room, lessons learned are always good to include.

Essay 6: Differentiators

IMD receives numerous applications per year. Give us four bullet points that clearly differentiate you from this applicant pool. (maximum 1230 characters)

Your essays up to this point are probably very professionally focused. Several of the bullet points could be personal. Think about that IMD video I suggested you watch. IMD wants to know about you as a person, as well as you as a professional. This may be a great place to inform the reader of distinctive features in your background or personal life. Your resume and the other essays will have already told them about unusual aspects of your professional life.

Essay 7: Alternatives

If you are not admitted, what alternatives will you consider? (maximum 1230 characters)

How will you achieve your professional goals discussed earlier in the IMD application if you are not admitted to an MBA program? How would you acquire the skills you seek?

Essay 8: Finance

Please explain how you intend to finance your studies at IMD. What would be your budget? (maximum 1230 characters)

Just answer it. Loans, your own funds, parental assistance? Whatever it is, provide the answers. The same is true of the budget question.

Essay 9: Disability / illness 

Do you have a disability or illness that could affect your performance at IMD? If so, please explain. (maximum 1230 characters)

If necessary, describe the disability and how you intend to compensate for it. Also show that you have compensated successfully for this illness or disability in the past.

Essay 10: Additional Information

Optional question: Is there any additional information that is critical for the Admissions Committee to know which has not been covered elsewhere in this application? (maximum 1230 characters)

Between IMD’s nine essay questions and two questions preceding the essay questions, this may be the one application where the optional essay is really unnecessary. Nonetheless, if you have something to explain — a low GPA, a gap in employment, etc. — this is the place to do it.

IMD 2011 Application Deadlines

February 1; April 1; June 1; August 1; September 1 

While you can choose any of the above deadlines, we encourage you to apply as early as possible.

Our rolling admissions process helps us to assemble a unique mix of participants who will maximize your learning. After each deadline, the IMD MBA admissions committee reviews all the complete applications and performs an initial evaluation.

Within 6 weeks, we inform you if we would like to meet you for the on-campus assessment day.

If you would like help with your IMD MBA application, please consider Accepted’s MBA essay editing and admissions consulting or an IMD MBA School Package, which includes advising, essay editing, and a resume edit for the IMD MBA application.

By Linda Abraham, President and Founder of Accepted.com.

 

 

 

 

Financial Times Global 2011 MBA Rankings

It’s the moment we’ve all been waiting for—the Financial Times published its 2011 ranking of global MBA programs!

First the rankings; then some thoughts.

Top 20 Global MBA Programs (last year’s position is in parentheses)

1. London Business School – UK (1)

1. University of Pennsylvania Wharton – USA (2)

3. Harvard Business School – USA (3)

4. INSEAD – France/Singapore (5)

4. Stanford GSB – USA (4)

6. Hong Kong UST Business School – China (10)

7. Columbia Business School – USA (6)

8. IE Business School – Spain (6)

9. MIT Sloan – USA (8)

9. IESE Business School – Spain (11)

11. Indian Institute of Management Ahmedabad (IIMA) – India (unranked)

12. Chicago Booth – USA (9)

13. Indian School of Business – India (12)

14. IMD – Switzerland (15)

15. New York University Stern – USA (13)

15. Yale School of Management – USA (16)

17. Ceibs – China (22)

18. Dartmouth Tuck – USA (13)

18. HEC Paris – France (18)

20. Duke Fuqua – USA (20)

As you see above, this year there are some surprises, although the top 5 haven’t changed much. Among the surprises:

  • Hong Kong UST vaulted to #6 from #16 two years ago and is ranked ahead of MIT Sloan, Columbia, Booth, Kellogg, and Tuck.
  • Indian Institute of Management, Ahmedabad (IIMA), grabbed #11 – even though it wasn’t ranked previously by FT.
  • US leaders like Kellogg (#21) and Chicago (#12) and many other prominent US schools did not fare well, and tend not to do well in the FT global rankings.

A bit on the FT methodology: To be ranked, business schools need to be accredited, to have been open for at least four years, and must have at least 30 students in each class. 156 business schools fit this description this year and participated in the school survey provided. The data for rankings is collected from alumni and from the schools themselves.

To determine the top 100 schools, the following three areas are analyzed: diversity and international reach, alumni salaries and career development, and research capabilities. These three categories are then further broken down into 20 specific criteria that are further analyzed to determine the rankings.

For a more detailed description of the methodology, see “Getting to grips with the method.”

Accepted.com ~ Helping You Write Your Best


A Few of the Mostest at Accepted.com

This is the time of year to look back at the most, best, (worst), etc. I am going to stick to the positive.

Top Ten Most Visited Accepted Admissions Almanac Posts of 2010:

In a nutshell, rankings and application tip posts rule. (I am only listing the current tip post when last year’s tip post also made the list):

  1. Financial Times Global 2010 MBA Rankings
  2. Forbes ROI MBA Rankings for 2010
  3. Harvard HBS 2011 MBA Application Questions, Deadlines, Tips
  4. INSEAD 2011 MBA Application Questions, Deadlines, Tips
  5. NYU Stern 2011 MBA Application Questions, Tips, Deadlines
  6. Common Application Essay Tips
  7. Columbia 2011 MBA Application Questions, Deadlines, Tips
  8. 2010 MBA Rankings Released by BusinessWeek
  9. Kellogg 2011 MBA Application Questions, Deadlines, Tips
  10. London Business School 2011 MBA Application Questions, Deadlines, Tips

Three Most Commented Accepted Admissions Almanac Posts of 2010

  1. Harvard HBS 2010 MBA Application Questions, Deadlines, Tips (269)
  2. INSEAD 2010 MBA Application Questions, Deadlines, Tips (246)
  3. INSEAD 2011 MBA Application Questions, Deadlines, Tips (60)

Keep ‘em coming! (Please post your questions about this year’s applications on this year’s tips.)

Five Most Popular Articles on Accepted.com of 2010:

  1. Go for the Goals in your Statement of Purpose
  2. Tips for Writing Letters of Recommendation for Medical School
  3. 4 Must-Haves in Residency Personal Statements
  4. MBA Admissions: Low GMAT or GPA 
  5. Sample MBA Interview Questions

Most Popular Resources of 2010:

Our Absolute, Best, Most Superlative Asset: YOU, our readers, followers, fans, subscribers, and most of all, our clients.

On behalf of Accepted’s staff, this post is where I

Thank you, all of you Acceptees, for making 2010 our best year ever!

By Linda Abraham, President and Founder of Accepted.com.

Top 10 European Business Schools: Financial Times 2010

The Financial Times just released its 2010 European b-school rankings, along with a number of analytical articles explaining how the results were determined. Please see “The ranking decoded” for the full list of ranking criteria, with salary data at the forefront.

10 Best European Business Schools

  1. HEC Paris
  2. London Business School
  3. INSEAD
  4. IMD
  5. IE Business School
  6. Rotterdam School of Management, Erasmus University
  7. ESCP Europe
  8. Esade Business School
  9. IESE Business School
  10. EM Lyon Business School

Other articles in the report of interest include:

Are you thinking about pursuing an international MBA? Check out our new special report, Internationalizing the MBA, by Accepted’s internationally-based consultant and editor, Tanis Kmetyk. (P.S. It’s free!)

Accepted.com ~ Helping You Write Your Best

2010 MBA Rankings Released by Businessweek

 

Businessweek just released its biannual full-time MBA rankings. There were some minor shifts in this year’s U.S. top 30 compared to those of 2008, and some more significant changes in the international rankings, as you’ll see below.

Top 30 U.S. Business Schools of 2010 (2008 rankings are parenthetical.)

  1. Chicago Booth (1)
  2. Harvard Business School (2)
  3. Wharton (4)
  4. Northwestern Kellogg (3)
  5. Stanford GSB (6)
  6. Duke Fuqua (8)
  7. Michigan Ross (5)
  8. UC Berkeley Haas (10)
  9. Columbia (7)
  10. MIT Sloan (9)
  11. UVA Darden (16)
  12. Southern Methodist Cox (18)
  13. Cornell Johnson (11)
  14. Dartmouth Tuck (12)
  15. CMU Tepper (19)
  16. UNC Kenan-Flagler (17)
  17. UCLA Anderson (14)
  18. NYU Stern (13)
  19. Indiana Kelley (15)
  20. Michigan State Broad (2T)
  21. Yale SOM (24)
  22. Emory Goizueta (23)
  23. Georgia Tech (29)
  24. Notre Dame Mendoza (20)
  25. Texas-Austin McCombs (21)
  26. USC Marshall (25)
  27. Brigham Young Marriott (22)
  28. Minnesota Carlson (2T)
  29. Rice Jones (NR)
  30. Texas A&M Mays (NR)

Top International Business Schools

  1. INSEAD (3)
  2. Queen’s (1)
  3. IE Business School (2)
  4. ESADE (6)
  5. London Business School (5)
  6. Western Ontario Ivey (4)
  7. IMD (7)
  8. Toronto Rotman (8)
  9. York Schulich (2T)
  10. Cambridge Judge (2T)
  11. McGill Desautels (2T)
  12. IESE (9)
  13. Cranfield (NR)
  14. HEC Paris (2T)
  15. HEC Montreal (HR)
  16. Oxford Said (10)
  17. Manchester (2T)
  18. SDA Bocconi (NR)

BW bases its rankings on employer and student surveys, as well as what they call “intellectual capital,” or school research output. For more information on how the rankings are determined, read BW‘s How We Rank Business Schools.”

Other articles in the report that may interest you include:

  • The Best U.S. Business Schools 2010” – This article highlights ways that business schools are dealing with the sour job market—putting a new emphasis on job placement, reaching out to alumni for job leads, using technology to connect with recruiters, and bolstering career services departments.
  • Top Global Business Schools” – Read about how the Great Recession has affected the international MBA scene, why new schools have popped up on the top 10, why students are being drawn to emerging markets, and more.

Accepted.com ~ Helping You Write Your Best

Financial Times Unveils EMBA Ranking Report

There are a number of interesting articles, charts, and maps included in the Financial Times‘ latest Executive MBA rankings “package.” We’ll share some highlights here, and point you in the right direction for further reading/viewing.

Let’s start with the actual rankings.

Top 15 International EMBA Programs

1.   Kellogg / Hong Kong UST Business School – China

2.   Columbia / London Business School – USA / UK

3.   Trium HEC Paris / LSE / NYU Stern – France / UK / USA

4.   INSEAD – France / Singapore / UAE

5.   University of Chicago, Booth – USA / UK / Singapore

6.   London Business School – UK

7.   IE Business School – Spain

8.   University of Pennsylvania, Wharton – USA

9.   Duke University, Fuqua – USA

10.  Chinese University of Hong Kong – China

10.  City University Cass – UK

12.  IMD – Switzerland

13.  UC Berkeley Haas / Columbia – USA

14.  Kellogg / WHU-Otto Belsheim School – Germany

15.  Columbia Business School – USA

15.  ESCP Europe – France / UK / Germany / Spain / Italy

You can tell simply by looking above where the EMBA “hot spots” are—the USA, UK, China, Singapore, Paris, France, and Spain—or you can take a look at the FT‘s interactive map: Hot spots: the most popular cities in the world for Executive MBAs.

For an analysis on how the rankings were determined, check out “The ranking decoded.”

For an explanation on the challenges business schools face with this executive degree, see the lead article in the report, “Business schools face EMBA challenge.” (Just to give you clue—it has something to do with the economy and companies becoming less than willing to shell out $100,000+ in sponsorship funds. Surprise, surprise.)

Yet challenges aside, many EMBA programs (especially those in countries that have been, until recently, underserved by business schools) are seeing an increase in enrollment. For more on EMBA success, read “Rising demand: executive MBA sector shows healthy growth.”

 

Accepted.com ~ Helping You Write Your Best

Economist MBA Rankings Released!

According to The Economist, this year’s rankings are “probably the most turbulent” in its nine year ranking history. How schools have responded to the difficult job market has greatly affected their position in the rankings since career opportunities for graduates and salaries of graduates account for 55% of The Economist‘s rankings.

This year, Chicago Booth took the cake with the number 1 slot, at least in part, if not entirely, because of its top-ranked career service department. (The $300 million donation by David Booth in 2008 helped the school achieve this goal, something most schools haven’t been able to accomplish in this economy.)

Here are the top ten full-time international MBA programs (2009 rankings in parentheses):

1. Chicago Booth (4)

2. Dartmouth Tuck (6)

3. UC Berkeley Haas (3)

4. Harvard Business School (5)

5. IESE Business School (1)

6. IMD (2)

7. Stanford GSB (7)

8. Wharton (9)

9. HEC School of Management (14)

10. York Schulich (12)

 

Click here to view school rankings by category.

 

For more information on how these schools were chosen, check out the Methodology section of The Economist‘s report.

Meanwhile, a Poets & Quants article on The Economist rankings (“The Economist’s Roller Coaster MBA Ranking“) points to the fact that the this year’s rankings are slightly flawed, mainly in that the job/salary data was gathered from the class of 2009, not the latest graduating class of 2010. The 2010 data, which won’t be ready for a few weeks, would have presented a much more current and fair perspective on how b-school graduates are actually doing job/salary-wise, especially since the economy has improved in the last year.

The P&Q article refers to a number of “roller coaster-like” jumps and plummets, including:

  • UVA Darden “leapfrogged” 13 spots from last year’s 24th spot to this year’s 11th.
  • Columbia moved up 8 spots from 20th to 12th.
  • CMU Tepper jumped 22 spots from 33rd to 21st.
  • London Business School ranked the third best in the UK, a shock that came to most people, especially given its number 1 placement by The Financial Times. According to The Economist, LBS is ranked lower than the Cranfield School of Management and Henley Business School.

P&Q states that of the five major MBA rankings (U.S. News, Businessweek, Forbes, Financial Times, and The Economist), “the Economist‘s methodology is considered the least credible.”

Not sure what the rankings mean to you? How much should you take them into account when applying to b-school? Download Accepted’s special ranking report now to learn about how the rankings affect you.

 

Accepted.com ~ Helping You Write Your Best


Dipak Jain hits the INSEAD rumor mill

Word has it that Dipak Jain, former dean of Kellogg, is tipped to become the next dean of INSEAD. According to a recent Financial Times article, Dipak Jain is the front-runner for the position and is awaiting approval from the INSEAD board and faculty from both the French and Singapore campuses. (INSEAD has another, smaller campus in Abu Dhabi.)

A little about Prof. Dipak Jain:

  • Prof. Jain was born in Assam, India.
  • He is 53 years old, making him one of the youngest business school deans on the international scene.
  • While the vast majority of his teaching experience has been in the U.S., he has also taught in India and has been known to have a “vision of developments in Asia”—one of the qualities that appealed to the Insead board.
  • He was dean of Northwestern Kellogg for eight years, until he stepped down in 2009.
  • He is a prolific marketing scholar.
  • He was responsible (according to Jain himself) for altering the Kellogg culture from being an individual-driven program, as it was when Don Jacobs (his predecessor) was dean, to an institution-driven program, “with multiple associate deans and devolved responsibilities.”
  • Prof. Jain is “a thoroughbred academic,” in contrast to INSEAD’s current dean Frank Brown, who is more of a business professional. INSEAD, London Business School, and IMD, top international business schools, all hired non-academic deans in the recent past, and are all now—after deeming that strategy a mistake—replacing them with academic deans.

The appointment process should be completed in the next few weeks.

(Source: Financial Times, “Dipak Jain Tipped for Insead“)

Accepted.com ~ Helping You Write Your Best



MBA Admissions News and a Little College, Too

  • Top European b-schools continue making the same mistake: First, in 2008 London Business School ousted their new dean, Robin Buchanan, for being too much of a businessman and not enough of an academic dean. Now IMD‘s president, John Wells, is stepping down due to similar criticism. Finally, Frank Brown, Insead‘s current dean, also plans to step down in 2011 because of similar accusations. Each of these three b-school leaders will have held their posts for just a few years. According to a Financial Times article on the subject, Professor Wells “ruffled faculty feathers at IMD from the start, principally by introducing an Anglo-American management team”—while there are several French or Belgian professors at IMD, none were appointed to any of the five senior positions. IMD and Insead were both hit hard by the economic crisis since both rely heavily on revenue earned through running short executive programs, which took a serious toll these last few years. IMD faces other challenges, including the fact that its former president, Peter Lorange, recently established another business school close by in Zurich. Like IMD, the Lorange Institute focuses on executive education.
  • Another recent Financial Times article, “Shift to international standards happening, but slowly,” reports on some of the challenges b-schools have been facing in the area of global business harmonization, particularly with regards to accounting. The rules of accounting have traditionally varied by jurisdiction, yet the EU has been attempting to include accounting in its international financial reporting standards (IFRS) since 2005. The U.S. Financial Accounting Standards Board, however, have confirmed that they will not meet the June 2011 deadline, creating educational limits for providers who are seeking to standardize and internationalize their accounting programs. Accounting professors must juggle both American and international standards until the two merge following what may be many more years of debate and planning. According to the FT article, soon, localized accountancy training will disappear with the “globalization of accounting practices and the eventual adoption of IFRS.”
  • Big GMAT test prep books have gone the way of bulky dictionaries and encyclopedias—they’ve gone digital. Future MBA hopefuls will no longer need to tote oversized paper GMAT books, but will be able to download easily accessible GMAT apps for their smart phones, reports a Businessweek blog post. iPhone apps include Kaplan GMAT Flashcards, GMAT ToolKit, and the new GMAT Pill, a month-long study plan developed by GMAT high-scorer, Zeke Lee. The benefit of such programs—besides for the amount of space they’ll save in your bag—is that they implement more visual explanations through video tutorials. As Lee explains, “What’s special about these videos is they are really helping students change the way they think.” Android and BlackBerry users will also have GMAT options at their fingertips, for affordable, on-the-go GMAT prep.
  • Rising college costs are a source of anxiety and anger for many students and their families. According to a recent Businessweek blog, tuition and fees for private nonprofit universities and colleges has increased by about 4.5%, about 0.2% greater an increase than last year. While these increases may wreck havoc on your bank account and retirement plans, it is interesting to note that these tuition hikes (last year’s and this year’s) are actually the two lowest increases since the 1972-1973 academic year. 4.5% may seem unmanageable, but it beats the pre-recession increase average of 6% per year. Another silver lining: Grant and scholarship programs received a 6.8% average increase this year.

Do you need help financing your future college or graduate school costs? Buy our featured ebook, Financing Your Future, by July 31, 2010 and receive 20% off when you use coupon code FUTURE20 at checkout.

Accepted.com ~ Helping You Write Your Best