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GMAC Survey Reveals New Trends

September 15, 2011 By Leave a Comment

The Graduate Management Admissions Council’s annual Application Trends Survey reveals up-and-down admissions trends in specialized master’s programs in finance and management, as well as MBA programs. While the economy remains shaky and applications are down at full-time MBA programs, graduate business schools continue to receive strong applications from highly qualified applicants. Schools also report an increasing number of applications from international candidates.

Important survey findings include:

  • 67% of full-time, two-year MBA programs report a decline in application volume in 2011. Down approximately 10% from 2010, according to the WSJ.
  • 83% of masters in finance programs report an increase in application volume, as did 69% of masters in management programs.
  • Most schools claim that “applicant quality” has increased or remained the same in 2011.
  • For all degree types covered in this survey, schools report an increase in applications from foreign students, with India and China leading the way.
  • Part-time MBA programs report fairly flat application volume.
  • Executive MBA programs were down from 2010, but up from 2009.
  • Almost 75% of two-year full-time MBA applicants in 2011 were from outside a school’s local area. 45% of applicants come from outside the US.
  • 57% of one-year full-time MBA programs reported a decline in application volume.

So what’s your take on these numbers? Can you explain the sudden attraction of Masters in Finance programs? My guess is that it correlates with an increase in applications from India and China, two areas of the world where applicants tend to excel in number crunching. Many MiFs are also one-year programs, which makes them less costly, although that fact hasn’t saved the one-year MBA programs.

My main take-away: there is opportunity in these numbers, specifically the decline in MBA applications. And while the elite schools may not be hurting for applicants, I strongly suspect that the decline is affecting all programs at least somewhat.

If you are a borderline applicant or even a competitive but not stellar MBA applicant, you will have a slightly better chance of acceptance this year than last.  And maybe even a better chance this year than next year. GMAT volume for the first half of 2011 is up.

“Ah,” you say, “but the economy!” Valid concern.  (See “Look at the Economy! Is Now the Right Time to Apply to Business School?”)

I can’t tell you what the economy will be like in 2014. And I certainly don’t recommend applying if you aren’t ready. I can tell you that those intrepid souls who applied to b-school in 2002 and 2003 when applications were way down, graduated into a growing economy in 2005 and 2006. They had plenty of job offers.

So if you know you need an MBA to achieve your professional goals, this year could be a great year to apply. At least that’s my take. What’s yours?

Linda Abraham By Linda Abraham, president and founder of Accepted.com




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MBA Admissions: Yale SOM and Healthcare

September 1, 2011 By Leave a Comment

  

This post about Yale SOM and healthcare is part of a series of interviews of top MBA programs called “MBA Career Goals and the B-Schools that Support Them.” Please subscribe to our blog to ensure that you receive all the interviews exploring the elements at each school that support career goals in finance, consulting, general management, entrepreneurship, marketing and more.

Here is the interview with the Admissions Office and Career Development Office at Yale SOM.

What kind of background and skills do you like to see in applicants expressing interest in a career in healthcare?

Scientific-oriented companies such as those in pharmaceuticals and medical devices tend to seek MBA’s with technical, biological, or chemical backgrounds, especially for positions in product marketing, product management and business development roles.  Finance positions tend to seek students that have strong analytical and prior finance, accounting, or audit experiences.

What aspects of Yale’s curriculum are best suited to students who want to eventually pursue a career in healthcare?

Students seeking to emphasize in healthcare should consider taking Managing Healthcare Organizations; Healthcare Policy, Finance, and Economics; Healthcare Leadership Seminar; and Healthcare Operations. They may also want to take Policy Modeling and Simulation Modeling to strengthen core skills.

Which school clubs, programs, and extra-curricular events are most relevant to people interested in Healthcare?

The Healthcare Club is essential.  It provide students with a community to discuss career alternatives, share prior experiences with other students (especially 2nd years), and network with companies, alumni, and MBA-e (executive MBA) students.  The Healthcare Club is also active in organizing student-led treks to visit companies in New York, New Jersey, Connecticut, and California.

Yale University hosts a Healthcare Conference in the spring and students in the Healthcare Club help organize and participate in the conference.  It is a University-wide event that includes professors, researchers, dignitaries, employers, and consultants in the healthcare industry.  Most Yale SOM students in the Healthcare Club participate and many hold leadership positions in organizing this event.

Since “healthcare” is a very broad term, can you break down some of the some of the sub-categories in the field that Yale SOM excels in?

Healthcare at Yale SOM consists of 5 sub-categories: pharmaceuticals (including biopharma), medical devices, providers (hospitals, nursing homes, and clinics), payer companies (insurance companies, Medicare, and Medicaid), and healthcare consulting.

The sub-categories that have been historically most attractive to Yale SOM students are pharmaceuticals, medical devices, consulting, and payer organizations.  Some students pursue “provider” opportunities; most of them are duel-degree students in either the MPH/MBA program or the MD/MBA program. The functional roles vary from product marketing, marketing insight, product management, business development, strategy, and finance.

Which healthcare organizations recruit at Yale SOM? How many graduates of your 2010 class received offers in healthcare?

Some of the companies that recruit Yale SOM students include Aetna, J&J, Covidien, Boehringer Ingelheim, CIGNA, Genentech, Pfizer, Medtronic, Forest Laboratories, Bayer, and Medco.  Many local niche companies and startups pursue our graduates. Approximately 5% of our 2011 graduates have taken full-time positions in companies within the healthcare sector.

Thanks to the Yale SOM Admissions Center and Career Development Center for granting us this interview.

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MBA Admissions: Yale SOM and Management Consulting

August 30, 2011 By 2 Comments

  

This post about Yale SOM and management consulting is part of a series of interviews of top MBA programs called “MBA Career Goals and the B-Schools that Support Them.” Please subscribe to our blog to ensure that you receive all the interviews exploring the elements at each school that support career goals in finance, consulting, general management, entrepreneurship, marketing and more.

Here is the interview with the Admissions Office and Career Development Office at Yale SOM.

What kind of background and skills do you like to see in applicants expressing interest in a career in management consulting?

The backgrounds for prospective management consultants can vary widely from analyst positions at consulting companies to work experience as part of Teach for America.  The generalist model consulting companies are looking for the “best and brightest” regardless of industry background, so strong analytical skills and communication skills (for example, as demonstrated by high GMAT scores) are essential.  The interview process is extensive and is focused on “casing,” which requires candidates to demonstrate business acumen, problem framing and solution development while engaging in a collaborative discussion with the interviewer.

The generalist consulting companies do value to some degree prior experiences in consulting, finance, operations, or marketing; however those experiences are not essential.

More specialized firms expect undergraduate education and prior experiences in related fields.  For example, healthcare consulting companies consider more candidates that have scientific undergraduate degrees and have worked in the healthcare industry prior to Yale SOM and finance consulting companies consider more candidates with a related financial work experience.

What aspects of your curriculum are best suited to students who want to eventually pursue a career in management consulting?

The “core” course for the strategy curriculum is Competitive Strategy. Students can pursue an ‘emphasis’ in strategy; for those students or students interested in consulting/general management, the second “core” course of the strategy curriculum is Internal Competitive Strategy and the Internal Organization of the Firm. Students considering a career in strategy are also recommended to take Statistical Modeling. Other courses to consider include Technology Strategy, Behavioral Economics and Strategy, and Developing Winning Strategies.

Which school clubs and extra-curricular events are most relevant to people interested in management consulting?

Membership in the Consulting Club is essential for prospective consultants.  The club conducts a curriculum that is focused on case interviewing, enabling students to develop essential techniques and offering an environment for practicing case interviewing in groups and one-on-one.  Additionally, the Club holds case competitions in conjunction with prospective employers, which both sharpen skills and build professional contacts for networking.  Club leads and 2nd year members act as coaches to help students sharpen their resumes, prepare for interviews, and navigate employer opportunities.

Since “management consulting” is a very broad term, can you break down some of the some of the sub-categories in the field that Yale SOM excels in?

A wide variety of consulting firms recruit Yale SOM students, including strategic consulting firms, operational consulting, human capital, financial consulting, healthcare consulting, and innovation consulting.

Which management consulting firms recruit at Yale SOM? How many graduates of your 2010 class received offers from each of these firms?

Many consulting firms recruit at Yale SOM.  A sampling of them includes Bain, BCG, McKinsey, Deloitte, PwC, Booz Allen Hamilton, Arthur D. Little, Charles River Associates, PA Consulting, Casey, Quirk and Associates, CCS Fund Raising, Chartis Group, Frankel Group, The Hay Group, Innosight, Mars Consulting, The Parthenon Group, and Putnam Associates.  Additionally there are many firms that recruit Yale SOM graduates through other channels such as diversity programs.  Approximately 20% of our 2011 students have taken full-time positions at companies within the consulting sector.

Thanks to the Yale SOM Admissions Office and Career Development Office for granting us this interview. 

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MBA Admissions: Interview with Nunzio Quacquarelli of QS World MBA Tour

August 28, 2011 By Leave a Comment

  

Accepted.com turned recently to Nunzio Quacquarelli, Managing Director, QS World MBA Tour for his perspective on the MBA scene. In addition to organizing the QS World MBA Tour, Nunzio, who earned his MBA from Wharton, authors TopMBA Jobs & Salary Trends Report and QS Global 200 Business Schools: The MBA Employer’s Choice. He writes and speaks extensively on trends in graduate business education. He has generously shared his thoughts in response to a few questions below:

What do you see as three of the most significant changes in the graduate business education market in the last ten years?

QS World MBA TourIn terms of MBA employment opportunities, the high growth has taken place the emerging markets over the past decade. I think that we’ll see the overall volume of MBA opportunities in Asia out-stripping the US quite soon. Some employers in China and India are literally employing thousands of MBAs every year. There are also multinationals operating, or planning to grow, in emerging markets that are looking to take MBAs from the west and employ them in those economies. So, there is more and more mobility of MBAs – not necessarily candidates from emerging markets coming to the west, but actually candidates from the west going to the emerging markets. What is happening now is quite a fundamental change in the flow of talent and, I think over the next decade, it will accelerate a lot.

Over the decade there has been a sharp increase in demand for MBAs with over six years of work experience, spawning a huge growth in the number of executive MBA programs on offer around the world and yielding far higher average salaries. MBAs are no longer viewed as a homogenous group. As business schools produce ever more pre-experience masters students, employers are increasingly paying premium salaries for more experienced MBA candidates with strength in the ‘soft’ skills, such as leadership, communication, interpersonal and strategic thinking. These skills are often considered a more important outcome of an MBA qualification by employers than say accounting or other traditional ‘hard’ MBA skills, according to QS TopMBA.com Jobs & Salary Trends Report 2011/12, which surveyed over 12,000 employers worldwide.  Local employers will settle for MBAs with less than two years of experience, but they won’t pay much more than a pre-experience graduate. Multinational employers paying $100,000 salaries continue to prioritise MBAs with three to five years of experience, but executive MBA salaries can often be double this level.

Socially responsible careers and social entrepreneurship, in particular, have become a much more important and attractive career priorities for MBAs. The shock of the credit crunch and a loss of confidence amongst young people in the banking sector in particular, has inspired a new generation of MBA candidates to prioritise socially responsible careers, both within the corporate sector and as start ups. In QS TopMBA.com Applicant Survey 2011, 33% of applicants specified an interest in starting their own business, compared to 23% a decade ago, whilst the numbers of applicants reporting a desire to specialise in finance is at an all time low. The Aspen Institute publishes ‘Beyond Grey Pinstripes’ ranking of business schools, based on the extent of their socially responsible course content.

Do you feel that the rise of European and Asian business schools could dethrone U.S. schools as leaders in graduate business education? What are they doing right?

Demand for MBA programs in Western Europe and several emerging markets such as Hong Kong, Singapore, and China continue to rise, as an inevitable result of the burgeoning demand for MBA graduates amongst local, regional and multinational employers.  

The US remains the most popular MBA study destination worldwide with over 60% of MBA applicants considering an US MBA, though this is down from over 80% a decade ago, according to the QS TopMBA.com Applicant Survey. The QS survey also found 30% of full-time MBA applicants from the US are specifying an interest in taking an MBA outside the US, with Europe and Asia the most popular regions.

Attitudes to MBA study are definitely changing. People are placing greater emphasis on access to local alumni and employer networks, ahead of the long established global reputation of many US business schools.  Australian and European business schools have been particularly successful in building international recognition and reputation to compete with US institutions over the last decade, as well as creating strong alumni networks. Shorter courses, more international classes and ‘live’ consulting assignments are all part of the offerings of these upstart MBA programs. Asian business schools are perhaps a decade further behind in building the faculty and infrastructure required to maintain an international reputation, but few would bet against several Asian business schools developing world class status within the next ten years.

Do you feel that experiential learning is going to replace cases? Or do you feel that case study schools will still use primarily case study in the classroom, but also add experiential elements to their curricula?

MBA curricula are undergoing changes at business schools around the world. The majority of European business schools and many US business schools now include consulting assignments and experiential learning as part of their curricula, whilst retaining some case study delivery.

Where do you see graduate business education going in terms of geography and methodology in the next 5-10 years?

I would identify three trends: 1) Online delivery opens up many innovative opportunities for schools. 2) Recent market failures have placed greater emphasis on delivery of corporate social responsibility and business ethics at the heart of MBA programs. 3) Globalisation is placing greater emphasis on cross cultural learning, languages and leadership.

Business schools seem to be selecting combinations of these three trends when they revise their curricula. For example, recent curricula reform at The Wharton School has included:

  1. Strengthened teaching of the analytics
  2. An integrated focus on ethical and legal responsibility in business
  3. An increased focus on oral and written communication
  4. New methods of leadership development emphasizing self-analysis

How have MBA fairs changed in the last ten years? Are there any lessons for applicants?

Attending an MBA fair like our QS World MBA Tour in a nearby city is a way for a candidate to meet Admissions officers and alumni face-to-face. The format of the Tour has changed little over the last decade. We have typically 70 to 130 of the top business schools from around the world attending, with seminars on MBA admissions, GMAT, MBA Careers and other pertinent topics. The application process starts here, because strong candidates will develop a personal link to the Admissions officer who may ultimately be the person making the decision to admit, or not. Talking to alumni will make sure the cultural fit is right and confirm your school selection.(www.topmba.com/qs-world-mba-tour )

QS has innovated with our TopMBA Connect 121 events which are designed for candidates in the final stages of their MBA selection process. These events are open only to pre-selected qualifying candidates who have taken their required tests and are looking to complete applications and start their MBA in the near future. One-to-one interviews are arranged with admission officers to finally determine the suitability of the candidate and to fast track their application. (www.topmba.com/connect)

Lessons for MBA applicants would include:

  • Lesson one: Consider your career goals from the start – think about why you want to take an MBA and how it can benefit your career? Are you seeking a career change, or career progression? Which industry and function interests you most? Do you want to stay and work in your home country or move overseas? How do you aspirations match up with market trends and opportunities? Even if you are unsure and feel you want to consider your options during your MBA, having clear career goals will help you put together a better application.
  • Lesson two: Conduct an honest self-assessment – Also consider your strengths and the weaknesses you want to develop as a result of your MBA. An honest self-assessment will save you a great deal of time and energy and help you make a more focused selection of schools.
  • Lesson three: Budget and feasibility – Do you have enough savings to be able to give up work and study full-time, or do you need an Executive part-time MBA or distance MBA, so you can carry on working?
  • Lesson four: Research and Selection – undertake a systematic, rational research exercise to narrow down your choice of schools – create your personalised ranking (see www.topmba.com/scorecard for example). Then pick no more than six schools you would seriously consider applying to: perhaps two elite schools which may be difficult to gain entry to but would be your dream, two highly rated schools which are perhaps just a bit more in reach, two high quality schools with lower entry criteria (to make sure you are accepted somewhere decent).
  • Lesson five: Don’t skip the opportunity to meet the Admissions Officers and Alumni face-to face at a fair. An MBA is a huge investment and you really do want to make sure there is a cultural fit and that your assumptions about the school are correct before you make your final decision.

The QS World MBA Tour will be in over 60 cities across North America, Latin America, Europe, Asia, India and the Middle East. Participate in an event near you to benefit from $1,200,000 of exclusive scholarships available for attendees, admissions strategy workshops, careers panel with MBA recruiters and alumni and more. Visit QS World MBA Tour in a city near you.

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MBA Applicant Bloggers: Interview with “A” of Mistakes, Lessons, MBA, and More

August 26, 2011 By Leave a Comment

  

I recently had the pleasure of interviewing a number of MBA applicant bloggers. We follow the blogs, and learn from them, so our hope is that by sharing these individual stories with you, that you will also learn more about the MBA admissions process and applicant journey.

Our first featured interview is with “A” of the blog, Mistakes, Lessons, MBA, and more….

Accepted: First, can you tell us a little about yourself – where are you from, where did you go to school and when did you graduate; and what prior degrees do you hold?

A: I was born and brought up in Mawana, a small town of Uttar Pradesh in North India, and did my schooling from CBSE board, Translam International School. Owing to my interest in technology, I joined KIET, one of the most reputed private Engineering colleges in Uttar Pradesh. I completed my studies (Bachelor of Technology) in 2004 with a major in Information Technology (IT) and since then I have gained experience in IT in varied domains. I have been working in Finance for last five years.

Accepted: How long have you planned on applying to business school?

A: I started off with my GMAT preparations in mid 2009, took the GMAT in late 2009 and applied to a few top-notch business schools in fall 2010.

Accepted: Why do you want to go to business school? What are some of the factors motivating you (for example, a pay increase, skill building, prestige, etc.)?

A: I have been working in the technology department of a multinational financial institution for the last five years. During this period, in addition to building my technology expertise, I have gained project management skills and Fixed Income domain knowledge. Now, my short term career goal is to be a part of management team as a head of a Fixed Income technology group. To accomplish my career goal, I need a strong understanding of Finance, Strategy, Technology Management and General Management. An MBA could empower me with these required skills and knowledge.

Accepted: Where do you plan on applying? What sort of criteria did you use in choosing where you’d like to attend?

A: I am getting married in December 2011 and I want to enjoy my marital life for sometime :-) . I plan to apply in the fall of 2012. I would like to attend a one-year business school, reputed for finance and technology that has decent placements and reasonable ROI (depending on my savings, I will have the responsibilities of a married man after all ;-) ).

Accepted: If you don’t get into b-school this year, will you apply again next year?

A: I am still waiting for one of my school’s results, so my fingers are crossed. But as I said, I am not planning on applying this year to any other schools. But for sure, I will apply next year.

Accepted: Why did you choose to blog about the MBA application experience?

A: I chose to blog so that one day I would be interviewed by Accepted.com. LOL :-) . Jokes apart, I chose to blog, as my blog’s name suggests, to keep track of all my mistakes made and lessons learnt during my MBA journey. This has really helped me throughout and I strongly believe that my blog posts help my readers as well.

Do you want to be featured in Accepted.com’s blog, Accepted Admissions Almanac? If you want to share your MBA admissions journey with the world (or at least with our readers), email us at mbabloggers@accepted.com.

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MBA Admissions: Yale SOM and Investment Banking

August 25, 2011 By Leave a Comment

  

This post about Yale SOM and investment banking is part of a series of interviews of top MBA programs called “MBA Career Goals and the B-Schools that Support Them.” Please subscribe to our blog to ensure that you receive all the interviews exploring the elements at each school that support career goals in finance, consulting, general management, entrepreneurship, marketing and more.

Here is the interview with the Admissions Office and Career Development Office at Yale SOM.

What kind of background and skills do you like to see in applicants expressing interest in a career in investment banking?

Yale SOM seeks candidates with experience in a wide variety of industries and functional areas for careers in investment banking. Valuable attributes for applicants include strong quantitative skills and financial acumen, client communication skills, attention to detail, a strong work ethic, and the ability to thrive in a team environment. Desirable applicants must also demonstrate passion for a career in investment banking and be able to articulate reasons for entering the industry.

What aspects of your curriculum are best suited to students who want to eventually pursue a career in investment banking?

In addition to the core Integrated Curriculum which includes Accounting, Economics, and Spreadsheet Modeling, students can declare an ‘emphasis’ in Finance.  The many finance-oriented elective courses include Advance Financial Analysis, Capital Markets, Venture Capital & Private Equity Investments, Financial Instruments & Contracts, Corporate Finance, and Security Analysis & Valuation.

Which school clubs and extra-curricular events are most relevant to people interested in investment banking?

The Finance Club at Yale SOM supports the career pursuits of students focused on investment banking through weekly meetings and workshops in practical areas like resume writing, interview preparation, and gaining insights on specific roles, career tracks, specific banks, and the industry in general. Treks, visits from alumni, and other events are also sponsored by the Finance Club and other finance-related clubs. Related clubs cover Sales & Trading, Investment Management, Private Equity, and Real Estate.

Since “investment banking” is a very broad term, can you break down some of the some of the sub-categories in the field that Yale SOM excels in?

Yale SOM excels in a wide range of areas within an investment bank. “Investment Banking” typically refers to mergers and acquisitions and other financial advisory work. Approximately 50-70% of first-year student students who intern at investment banks work in investment banking. This figure is representative of most top business school programs. The other 30-50% of students who are hired by investment banks work in a variety of areas including research, sales & trading, capital markets, direct investments, investment management, and operations.

Which investment banking firms recruit at Yale SOM? How many graduates of your 2010 class received offers from each of these firms?

Over a dozen investment banks recruit at Yale SOM, including the large banks like Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch, Citi, Credit Suisse, and UBS, as well as more regionally-focused and boutique banks including Nomura, Houlihan Lokey, Lazard Middle Markets, Celfin, and Banco Santander. Other banks without an on-campus presence also recruit Yale SOM students as well. Among them are Rothschilds, Brown Brothers Harriman, Jefferies, Macquarie, Piper Jaffray, Bank of New York, and Royal Bank of Scotland. In 2011, the largest employer for summer interns was Goldman Sachs.  15% of the class of 2010 pursued careers in Investment Banking.

Thanks to the Yale SOM Admissions Office and Career Development Office for granting us this interview.

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MBA Admissions: Yale SOM and Environmental Management/Sustainable Development

August 23, 2011 By Leave a Comment

  

This post about Yale SOM and environmental management/sustainable development is part of a series of interviews of top MBA programs called “MBA Career Goals and the B-Schools that Support Them.” Please subscribe to our blog to ensure that you receive all the interviews exploring the elements at each school that support career goals in finance, consulting, general management, entrepreneurship, marketing and more.

Here is the interview with the Admissions Office and Career Development Office at Yale SOM.

What kind of background and skills do you like to see in applicants expressing interest in a career in environmental management/sustainability?

Yale SOM seeks candidates with a clear and demonstrated interest in environmental management and sustainable business practice.  Ideal applicants will have a mix of private sector experience coupled with exposure to the nonprofit and/or public sectors.  Desired skill sets include strategic management, ability to influence senior management, and analytical skills.  Technical skills in the environmental/science area are a plus.

What aspects of Yale’s curriculum are best suited to students who want to eventually pursue a career in environmental management/sustainability?

In addition to the core curriculum, students can declare an ‘emphasis’ in environmental management.  There are numerous courses of interest, including the Public and Private Management of the Environment, Environmental Management and Strategic Advantage, Energy Markets Strategy, Private Investment and the Environment, and Valuing the Environment.  In addition, Yale SOM students are able to enroll in classes at the Yale School of Forestry and Environmental Science to further develop their skills and expertise in this area.

Which school clubs, programs, and extra-curricular events are most relevant to people interested in environmental management/sustainability?

The most relevant student professional clubs include the Business and the Environment Club, the Energy Club, and Yale SOM Net Impact.  There are additional ways to participate in environmental management activities through Yale’s Center for Business and the Environment, and/or via the School of Forestry and Environmental Science.

Since “environmental management/sustainability” is a very broad term, can you break down some of the some of the sub-categories in the field that Yale SOM excels in?

Yale SOM excels in the functions of Environmental Sustainability and Corporate Social Responsibility.  Other related areas of expertise include Carbon Finance, Sustainability Consulting, Renewable Energy, and Green Real Estate.

Which organizations recruit at Yale SOM for environmental management/sustainable development? How many graduates of your 2010 class received offers in this field?

The Career Development Office has built strong relationships with employers considered leaders in environmental sustainability.  Students secure sustainability-related roles in a variety of industries for internships and full-time following graduation.  A few of these employers include Environmental Defense Fund (particularly for their Climate Corps program), The Nature Conservancy, Nestle Waters, National Parks Service, Department of Energy, GE Renewable Energy, DuPont, Redstone Strategy, New York City’s Economic Development Corporation, and Tishman Speyer.

Thanks to the Yale SOM Admissions Office and Career Development Office for granting us this interview.

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MBA Admissions: Yale SOM and Not-for-Profit Management

August 19, 2011 By Leave a Comment

  

This post about Yale SOM and not-for-profit management is part of a series of interviews of top MBA programs called “MBA Career Goals and the B-Schools that Support Them.” Please subscribe to our blog to ensure that you receive all the interviews exploring the elements at each school that support career goals in finance, consulting, general management, entrepreneurship, marketing and more.

Here is the interview with the admissions team at Yale SOM.

What kind of background and skills do you like to see in applicants expressing interest in a career in NFP management?

Yale SOM seeks candidates with a combination of business skills and a passion for social impact.  Specifically, strong program management and time management skills, leadership ability, initiative, and interpersonal skills are crucial for success.  Particularly in the nonprofit sector, employers seek MBA candidates who can navigate throughout an organization and build relationships with all levels of staff, while working within a bureaucratic and resource-strapped organization. Volunteer experience or other ways that demonstrate a commitment to the nonprofit sector is also important to highlight.

What aspects of your curriculum are best suited to students who want to eventually pursue a career in NFP management?

In addition to the core curriculum, students can declare an ‘emphasis’ in nonprofit management.  There are numerous courses of interest, including Strategic Management of Nonprofit Organizations, Financial Statement Analysis of Nonprofit Organizations, CSR: Social Venture Management, Global Social Enterprise, and Program Evaluation.  There are also many courses that focus on specific sub-sectors of the nonprofit industry, such as economic development, philanthropy or education reform.

Which school clubs and extra-curricular events are most relevant to people interested in NFP management?

The most relevant student professional clubs include SOM Net Impact, Arts & Culture, Education, Economic Development, and Business and the Environment.  There are additional ways to participate in social impact events, through the Internship Fund, SOM Outreach, Board Service, Global Social Enterprise and the Program for Social Enterprise.

Since “NFP management” is a very broad term, can you break down some of the some of the sub-categories in the field that Yale SOM excels in?

Yale SOM excels in the private/public partnership arena, including career paths in Corporate Social Responsibility, Corporate Philanthropy, and Nonprofit Consulting.  Other areas of expertise include Education Reform, International Development and Social Impact Investing.

Which NFP organizations recruit at Yale SOM? How many graduates of your 2010 class received offers in NFP management?

The Career Development Office has relationships with hundreds of nonprofit firms interested in recruiting Yale SOM talent. A sampling of these employers includes Achievement First, Acumen Fund, CCS Fundraising, Education Pioneers, Endeavor, Gates Foundation, The Bridgespan Group, and World Bank.  11% of the 2010 class joined the nonprofit sector following graduation. An additional 4% joined the Public Sector, working at firms such as OPIC and the FBI.

Thanks to the Yale SOM Admissions Office and Career Development Office for granting us this interview.



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Current Full-Time Cornell Johnson Student Interview

August 16, 2011 By Leave a Comment

  

Accepted.com is continuing a blog series featuring interviews with current MBA students, offering readers a behind-the-scenes look at selected MBA programs. We hope to offer you a candid picture of student life, and what you should consider as you prepare your MBA application.

Cornell JohnsonHere’s a talk with a student who came to Cornell Johnson with a life sciences/criminology background, then transitioned into an international career in finance.

We hear Ithaca is “gorges” but what about those winters?

I’m a native of Hong Kong and grew up in Toronto, so the winters weren’t a big deal.  Cornell’s proximity to Wall Street was a major advantage during my job hunt.

What did you want out of an MBA program? Did your career goals change once you arrived?

I did want an Ivy League school — maybe it’s Asia — but people are way more aware of names than rankings, and that helps with the job search. I was deciding between Brand Management and Finance, but realized all the good brand management jobs were restricted to Americans. So I dedicated my search to finance, since I don’t have a green card and was not going to add an additional challenge to an already tough process.

What strategies helped you find a job?

Face to face time is so important.  I basically commuted to New York City a lot, made countless phone calls, even flew out to Hong Kong to meet people.  But the effort paid off.

What are you doing now?

I’m working in finance with the cash sales trading group in Citigroup in Hong Kong.

How did you sell yourself to them, without having a finance background?

Honestly, I think my life sciences familiarity gave me a different perspective and helped me sell myself as a special candidate. With life sciences, I’ll have a strength when selling equities in bio tech, pharmaceuticals.

What was your best day on campus at Cornell?

My best day was when I got my internship and full time offer! From then on, I could focus on my classes and social life. I was just cruising by then.

What was your worst day?

There were a few — mostly during the initial job search, when i was looking for an internship. The process was competitive, and first semester is always intense. It was very difficult to balance the academics and the job search.

Who were your favorite professors and why?

My Chinese professor was fantastic, because she really, really took the time out to make sure I learnt my Chinese well in preparation for class. I also really liked my accounting professors Margaret Shackell Dowell and Mark Nelson. Accounting wasn’t my forte, but they let me take my time to make sure I really understood the concepts.

Can you recommend any cozy places to warm up, and fill up?

Plumtrum, Sangam and State Street Diner.

And finally why do you think you got the job you want?  Any tips for incoming students on the job hunt?

Yes, network early! Get your resume ready early, be confident in yourself, be realistic, and also have backup plans.

Michelle StockmanInterview conducted by Michelle Stockman, who worked in the Columbia Business School admissions office, has a Masters in Journalism from Columbia, and has assisted Accepted.com clients applying to top business schools since 2007.  She is happy to help you with your application.

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Resume Tips 101

August 3, 2011 By Leave a Comment

  

Pyarapopat recently wrote about the challenges of preparing an MBA application résumé and included the key factors of readability, impact, and uniqueness. Here are a few tips on how to achieve each of those.  
Readability:

  • Eliminate extra lines: Keep your address and contact information on one line if possible, avoid listing your job titles and company names for each position on 2 separate lines, and trim the writing of each bullet point to keep it to a maximum of 2 lines.
  • White space: Make margins no less than around 0.8 inches and instead of pressing the Enter key twice between positions or sections, use MS Word’s Format, Paragraph, Spacing Before box to add a bit of white space between lines and sections more compactly.

Impact:

  • Think in terms of numbers: How many people did you lead? What value budget did you manage? What percent of costs did you eliminate? What rate of productivity improvement can you point to? By how much did market share jump? These numbers and others give the reader a strong sense of the size of your impact.

Standing Out:

  • Professionally: Look around at your peers within your own organization, its peers and competitors. Do you fill a role traditionally filled by someone much older than you? Have you become one of only a few to transition to a coveted department or role? Have you earned awards for your work that far surpass the average rate of recognition? You can list these types of data points in a Highlights section at the top of your document.
  • Personally: Fight negative stereotypes about your profession to show that you are exceptional. If you are an accountant, admissions committees tend to assume you are risk averse, so you need to add material that shows some of the bigger risks you’ve taken: entrepreneurial efforts, motorcycle racing, etc. If you’re a finance type, you might be perceived as conceited or aloof, so you should be sure to include evidence of your social skills and humility: community service efforts, mentoring, etc.

Accepted has several MBA resume resources to guide you in these and other key areas so you present a killer résumé.

best-mba-guide 

Jennifer Bloom is a Certified Professional Résumé Writer. She actually gets excited about the challenge of putting everything that is special about you into one document!

Do you have a blog that chronicles your MBA admissions journey? Do you want to be featured in our blog, Accepted Admissions Almanac? Do you want to have Linda & her staff of talented MBA admissions consultants answer your pressing MBA admissions questions? If so, email us at mbabloggers@accepted.com.

Filed Under: MBA Admissions Tagged With:
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