Wharton MBA Admissions Q&A Tomorrow!

  

Do you have questions about U Penn Wharton‘s flexible yet rigorous curriculum? Do you want to hear more about the school’s emphasis on “leadership in action,” its collaborative environment, or its strong alumni network? Ask all your pressing MBA admissions questions to Wharton’s Ankur Kumar, Deputy Director of Admissions & Financial Aid, and Anthony Penna, Associate Director of Admissions, in an interactive admissions Q&A, on Monday, September 12, 2011, at 10:00 AM PT / 1:00 PM ET / 5:00 PM GMT. If you are applying to Wharton – one of the top three business schools – then this is an outstanding opportunity to ask all your questions and learn more about what life is like at the top.

Register now to reserve your spot for our View from the Top: Wharton MBA Admissions Q&A.

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

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MBA Admissions News Roundup

  

  • Georgetown University’s McDonough School of Business announced that David A. Thomas will become Georgetown McDonough’s new Dean and William R. Berkley Chair starting October 1, 2011. One can learn more about Dean Thomas by watching a video that has been posted on McDonough’s website.
  • Fortune.com’s interview with Ankur Kumar, Wharton’s deputy director of admissions, reveals the full story behind the rise in female enrollment at Wharton School of Business. Kumar explains how the school worked hard to get to the point where 45% of the incoming class is women. Kumar spearheaded many new initiatives in the past two years to attract more women to visit campus and convince them to apply.
  • The Financial Times describes how the Anderson School of Management at UCLA has restructured its curriculum to help students stay career focused and become experts in their fields of interest. The incoming class in September will have the flexibility to acquire skills early in the program that will allow them to contribute in their specialty even during their internships.
  • Businessweek announced that Blair Sheppard will be stepping down as the dean of Duke University’s Fuqua School of Business on August 1st. Sheppard will remain at the school and work in the fundraising and business development department for Duke’s new campus in Kunshan, China.  Duke Kunshan University is expected to open in 2012.
  • Fortune.com looks at how China Europe International Business School’s new dean, John Quelch, wants to transform the Shanghai business school into one of the top 10-ranked, research-focused business schools. Quelch plans on changing CEIBS by focusing on what he calls the “Four F’s”: Faculty, fame, fortune and fun. Although he struggles with recruiting faculty, Quelch feels fortunate that the Chinese government has given CEIBS “tremendous scope and freedom when it comes to curriculum design and delivery.”

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The Spiced Up MBA

  

When one applies to business school they typically worry about whether they have enough work experience under their belt, or whether they can compete with Ivy League graduates and 4.0 GPAs.  But statistics show that since the financial crisis MBA programs are no longer looking for cookie cutter students. “Diversity” is the name of the game.

The Spiced Up MBAAn article in the Financial Times (“Variety is the Spice of Life”) looks at how recruiters are now focusing on finding all different kinds of students to enroll in their MBA programs.  Schools like Harvard, Wharton and Stanford are enrolling fewer investment bankers and more women, entrepreneurs, military personnel, environmentalists and not-for-profit managers in future classes. In fact, only 12%-14% of the admitted students at Harvard and Wharton in 2011 had investment banking backgrounds.

Even the average age of incoming MBA students is changing! The typical incoming Harvard Business School student is now 27, up from 26 a year ago.

Wharton is also working to diversify its student body. Ankur Kumar, deputy director of admissions at Wharton, explains, “This has been a focal point for the past few years. We wanted to dispel some of the stereotypes and misconceptions [about MBA programs].” Wharton has gone so far as to reach out to high school students and teach them about the importance of a business education.

Stanford has even developed its own approach to incorporating diversity into its program. The school has ensured that one in six accepted MBA students is studying for another degree alongside their MBA.
Although American schools still need to incorporate more international students into their student body (Wharton is only 36% international and Harvard is only 34%), the MBA programs have made enormous strides towards accepting more women, applicants in a wider age range, and out-of-the-professional-box MBA candidates. This openness to diversity, if not commitment to wider definition of diversity, allows future applicants to think more creatively about how to market themselves to business schools.  Getting into MBA programs no longer requires fitting into the investment banking mold, but is more about breaking the mold altogether.

I have seen several articles about the increasing diversity of accepted MBA applicants and we have seen less emphasis on the classic professions with our clients as well. I recently spoke, however, to one admissions director who told me that this openness is driven as much by a change in the applicant pool as by the increased openness touted in this article.

Since the financial crisis and the subsequent layoffs of a few years ago, there are fewer investment bankers, and there are fewer investment bankers applying to MBA programs. There were also fewer college grads hired into investment banking in 2008 and 2009. But over the next few years members of those college classes will apply in increasing numbers. It will be very interesting to see if the trend discussed in this article represents a real increased commitment to professional diversity in MBA admissions, or simply a response to necessity combined with spin.

If the latter, investment bankers will once again have the inside track, and we’ll read that an MBA is a typical stop on the investment banking career track; if the former, professional diversity will continue to reign.

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Linda AbrahamBy , President and Founder of Accepted.com

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Another US News Top Ten!

US News is at it again!  The magazine’s newest top ten list is the top 10 Business Schools That Receive the Most Full-Time Applications. Not surprisingly, almost all the top 10 programs listed in US News’s rankings of the best business schools were also on the list of the top 10 business schools that received the most applications for full-time admissions in the 2010-2011 academic year (Dartmouth College’s Tuck School of Business was the only exception).

A total of 261 business schools provided US News with application data. On average, programs received 525 applications for admission.  But Harvard Business School surpassed them all with 9,524 applications, 32% more than the Stanford Graduate School of Business, which received the second highest number of applications.

However, the US News data does not reveal the number of students accepted into the class, making application numbers misleading. For example, Stanford has a class of fewer than 400, whereas Harvard’s class size is approximately 930. These statistics are also just a close approximation of the upcoming US News’ top 10.

Other schools that made the list of “the 10 business schools that received the most applications for full-time admission in 2010” were: University of Pennsylvania (Wharton)Columbia University, Northwestern University (Kellogg), Massachusetts Institute of Technology (Sloan), New York University (Stern), University of Chicago (Booth), University of California—Berkeley (Haas), and Duke University (Fuqua).

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Forbes Announces Top Ten Business Schools

  

Forbes has just released its list of the top business schools in America. The Forbesranking methodology is based on the return on investment achieved by the class of 2006. They surveyed 16,000 alumni at over 100 schools and received feedback from 30% of those grads. They then compared the earnings of the respondents from 2006-2011 to the cost of business school.

While Forbes lists 74 top schools, the top ten are:

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

Poets and Quants analyzes the Forbes’ data in terms of winners and losers, those who went up in the Forbes’ rankings and those who went down; it provides a useful table comparing the salary data by school to previous years’ salary data.

Of greater interest to me is the overall profitable MBA picture presented by the Forbes data: every single program in the top 74 has positive ROI, admittedly less in more expensive locales and a few in single digits, but the overwhelming majority showed a greater than 20% gain after five years. And that’s despite the recession.

So for those of you who have professional goals that require an MBA, it looks like a solid investment.   

Linda AbrahamBy , President and Founder of Accepted.com

 

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