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MBA Applicant Blogger Interview: Motown, Ms. HR, and Mads Mom’s Journey

September 9, 2011 by

  

Next up in our series of featured MBA applicant bloggers are Motown, Ms. HR, and Mads Mom from the blog, “Fortune 800: Our Journey to an MBA.” Please enjoy their thoughtful answers and use them to help you make your way through the MBA admissions process.

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?

Ms. HR: I was born and raised in Michigan. I grew up right outside of Ann Arbor (Canton) so it was no surprise that I wanted to attend the University of Michigan. I graduated from the University of Michigan (GO BLUE!!!) in December 2007 with a BSE in Electrical Engineering.

Mads Mom: I grew up in the suburbs of Cleveland, Ohio, but was never an Ohio State fan, although everyone assumes that I should be because I am from Ohio. Obviously, I did the complete opposite and went to the University of Michigan where I graduated in 2007 with a BA in Sociology.

Motown: I was born and raised in Detroit, MI. I also went to the University of Michigan and graduated in 2008 with a degree in Civil Engineering and minor in History.

Accepted: When do you plan on applying to business school? Which schools will you apply to? Do you think you’ll apply to a “safety school”?

Ms. HR: I’m planning on applying this year in either round 1 or 2. It depends on when I complete the best application possible for me. I have about 7 schools on my list as of now but I plan on narrowing that list down to 5 schools. My top 3 schools are Cornell, Vanderbilt and Kellogg. I’m DEFINITELY planning on applying to a safety school. I know where I want my career to go and I need an MBA to get there so I’m anxious to get started.

Mads Mom: I am planning to apply to business school for Fall 2012, during round 1 or 2. I have not narrowed my list of schools down yet, but some possible schools include University of Michigan, UCLA, Berkeley, NYU, and Cornell. I will definitely be applying to a “safety school” because I ultimately want to go back to school next year no matter what.

Motown: I’m pretty set on Round 2. That’s when I will have my transcript available for the class I am currently taking and when I know I will be very confident in my application. Also, I want to interview and apply at the same time. Not to mention, I want to visit some schools this Fall before apps are due. I feel like a lot of business schools are great, and I will be happy attending any of the schools I’m applying to, which is why I don’t have a ‘top’ choice. I am applying to 6 schools, 2 are Consortium and the rest are a range of safeties and reaches.

Accepted: Why do you want to go to business school? What are some of the factors motivating you?

Ms. HR:  I want to build some fundamental knowledge on business and HR. Coming from an engineering background I feel like it’s a necessity in order to be successful in my career change to HR Management. The main motivating factor for going back to school is most HR leadership rotational programs require an MBA or Master’s in HR. I know that an MBA will give me that fundamental knowledge so I can be successful in my future career. Another motivating factor, is just my pure passion for HR. I’ve had to work on some projects with HR and after every project I felt like running straight over to HR. I know without a doubt that’s where I’m supposed to be.

Mads Mom: I am a career changer, so I want to go back to business school because I plan to break into the new career field of high tech marketing. Some of the factors that are motivating me include the fact that I want to get into a career that combines my two passions for technology and design. Going back to school will give me the foundation I need, and the possible pay increase doesn’t hurt either.
 
Motown: I’ve always had a passion for helping out Detroit. So once I looked at my grad school options and did some research, I realized that an MBA was the best fit for me. I would love to increase my business acumen, expand my network, and hone in on my leadership skills. I desire to first pursue non-profit consulting and then eventually open a non-profit back in Detroit that focuses on urban and economic development.

Accepted: Does cost play a factor in where you’re applying? Do you plan on applying for financial aid or scholarships? Has your current job offered to pick up part or all of your b-school tab?

Ms. HR: Cost is a factor but at the same time it’s not really. If I get into my top choice school I doubt I would turn it down due to cost. I’ve done some research and there is money out there that you can get. I will be working extra hard to try and nail down some scholarships. I also plan on applying for financial aid. My current job does tuition reimbursement but I would have to go to school part time. I would like to take the time off and just focus on school and take in all a full time MBA has to offer as well as expand my network.

Mads Mom: At this point in time, cost is not really playing a factor in where I am applying. I definitely plan on applying for financial aid and scholarships, but I pretty much don’t want the factor of money to deter me from going to a great school. My current job has not yet offered to pick up part of my tab, but I haven’t asked or persuaded them yet either.

Motown: Cost definitely plays a factor, which is part of the reason I am applying through the Consortium. I also looked into schools that have loan forgiveness programs since I am interested in the non-profit/social enterprise space, which does not pay as lucratively as some other jobs. I will be applying for financial aid and seeking out scholarships/grants as well. My current job doesn’t offer to pay for business school for people that want to go FT.

Accepted: Do you plan on returning to your pre-MBA job (in a more prestigious/lucrative position) after you finish business school? Or do you plan on moving to a new function or industry?

Ms. HR: Eventually I would love to come back and work at my current company. I really enjoy working here but at the same time I would like to work elsewhere for a little bit to gain a different perspective and really see if the grass is greener elsewhere.

Mads Mom: I do not plan on returning to my pre-MBA job because it is in a totally different industry that I want to get into.

Motown: I’ve spoken to a few MBA’s at my company, so it’s not totally out of the picture. But for now, I plan on moving into a new company within a totally new function.

Accepted: What courses or experiences or people have motivated you to go to business school? How?

Ms. HR: The main thing that motivated me to go to business school is the exposure I’ve had to HR at my current company. That exposure made me realize HR is where I would like to go with my career. An MBA will help get me there. Another motivating factor was hearing the career paths my HR colleagues took. Knowing that an MBA helped some of them tremendously I’m more than willing to go back to school so I too can have some of those same opportunities.

Mads Mom: My mother has a number of degrees and if there was someone that motivated me to go to business school it would be her. Personally, I decided that I wanted a career change and to get where I wanted to go I knew I was going to need and MBA to get there.

Motown: As far as coursework, at Michigan I took this really cool class where we worked with a village in the Dominican Republic where we helped them filter their own clean water. That really changed my perspectives on technology and the possibility of leveraging it to help communities. Also, last fall one particular conversation I had with a JD/MBA was really inspiring and made me finally decide that an MBA was for me in order to reach my future goals. For a long time I thought MBA’s were just people that did investment banking, I had no idea about the wide range of careers that MBA’s could have!

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

Ms. HR: At first I was really against blogging. I didn’t think I would have enough time to write or enough things to say. It was Mads Mom that kept on pushing it and I’m so glad she did. Now that I’m in the groove of things I’m really glad we are documenting our journey. Hopefully it will help current and future applicants out and we will always have detailed memories of our journey. Without question, I’ve learned a lot from our readers. I think the collaboration between us and the readers benefits everyone. Also for me, blogging makes me think long and hard about the b-school process and I hope this in depth thinking will help me build a great application.

Mads Mom: While doing all my b-school research I came across a number of blogs, and just figured that maybe someone would want to read about mine. I knew I was going to be extra busy because I have a little girl, so pushed for Motown and Ms. HR to get into it together and it seems to be working out great. It’s fun to just write a quick note, even if no one reads it, so that you can look back and remember what you went through to get to where you want to go.

Motown: I personally love blogs and read them all the time. So when Mads Mom suggested it, I was excited about it. It’s great to just document this whole, introspective process and be able to look back and see how far we have all come!

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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Graduate School News Roundup

September 7, 2011 by

  

  • Inside Higher Ed offers some words of wisdom for graduate students struggling with the challenges of working independently. Nobody wants to hear “nobody cares about you,” but it can be a helpful mantra to remind students that whether you succeed or fail is completely up to you.  If you manage your advisor and believe in your work then you should come out of graduate school alive.
  • While there may be an increasing number of students pursuing graduate degrees, The Chronicle of Education reports that two-thirds of students in master’s programs in the US are receiving financial aid, according to the 2007-2008 National Postsecondary Student Aid Study. The study also showed that 80% of law students, 82% of medical and other health-sciences students, 75% of professional students, 42% of doctoral students in education, and 14% of Ph.D students are also borrowing money to pay for their education.
  • Inside Higher Ed examines the improving employment trends in the political science job market. The number of jobs listed with the American Political Science Association rose 11% in 2010-11, and the number of assistant professor positions rose 15%.  The APSA research also shows which sector of political science has been most successful, who is getting tenure, and follows the placement trends of permanent academics and postdocs.
  • Inside Higher Ed writes about a new movement to create doctoral programs in remedial and developmental education. More than one-third of all students beginning college have taken at least one remedial course, and there is a need for more specialization in the area.  At the moment there is only one existing doctoral program in developmental education at Grambling State University, however, the field is growing.
  • Slate takes a look at the issues facing graduates students who are overqualified for almost all jobs by the time they enter the job market. The article identifies ways that higher education in the humanities could actually pay off in the future by being more public with the information graduate schools share and training students for real careers.

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4 Ways You Should NOT Use the MBA Rankings

August 5, 2011 by

  

You’ll find loads of articles online enumerating the ways in which you can use the MBA rankings to your benefit. Most of these articles are found on the ranking websites. I’m not saying that you shouldn’t trust what you read on BusinessWeek, The Financial Times, or U.S. News – after all, the rankings do offer data comparing top MBA programs – but I do believe these sites are not offering you a complete picture.

So now I’d like to present you with the other side of the story – the rankings’ limitations. Blinding yourself to the rankings’ flaws could lead to an expensive, time-consuming mistake: choosing the wrong MBA program for you.

  1. They don’t measure your priorities.
  2. General rankings hide strengths (and weaknesses) in specific areas. There are numerous “gem” programs that thrive outside the top ten or top twenty. Many MBA students have a great chance of gaining acceptance PLUS receiving financial aid at these gem schools.
  3. Averages are exactly that. Average. They aren’t a cut-off and don’t reflect extenuating circumstances or the interplay between myriad factors in an admissions decision. At every school there will always be applicants who are accepted with below-average stats and who are rejected with above-average stats.
  4. Surveys, especially surveys of students and alumni, can be gamed. Students and alumni know that higher rankings increase the value of their degrees and have an incentive to think kindly of their schools.

In short, don’t give the rankings too much importance. Don’t replace school research and self-reflection with rankings to determine where you should apply or attend.

For more tips on how you should and should not use school rankings please see Accepted’s free, instantly downloadable special report, MBA Rankings: What You Need to Know.

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Interested in ISB? Indian School of Business MBA Admissions Q&A This Thursday!

August 2, 2011 by

  

Indian School of BusinessAre you considering applying to the Indian School of Business? Do you have questions about this top Indian MBA program’s admissions process or curriculum? If so, you won’t want to miss Accepted’s upcoming Q&A on Thursday, August 4, 2011 at 8:00 AM PT/11:00 AM ET/8:30 PM IST with Associate Director of Admissions and Financial Aid, Hima Bindu. During this interactive chat, you will learn the how, the when, and the why of applying to the ISB. Come prepared with questions about the ISB’s curriculum, student life, the experience in India for non-Indians, scholarship opportunities for international applicants, and more—Hima Bindu has the answers at her fingertips and is excited to share her extensive knowledge with you.

Register now to reserve your spot for the ISB’s MBA 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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College Admissions News Roundup

July 28, 2011 by

  

  • The Chronicle of Education looks at how the new King Abdullah University of Science and Technology (Kaust) in Saudi Arabia plans to transform itself into a world-class research graduate university, despite the fact that it is located in one of “the most restrictive countries in the world.”  The campus has cost King Abdullah $10 billion dollars, and it is a big step for Saudi Arabia society, because it is the first institution in the country to have men and women in the same classroom.
  • Seniors who are in college and looking for an MBA or a business education should read Businessweek’s article on universities offering MBA programs for students who have just graduated undergrad. Recent graduates should look at the Silver Scholars program at the Yale School of Management (Yale Full-Time MBA Profile), the Momentum MBA program at Xavier University Williams College of Business and the Emerging Leaders MBA program at Loyola University Maryland’s Sellinger School of Business. Although not mentioned in this article, Duke Fuqua’s and London Business School’s Masters in Management programs are also options for recent college grads who want a foundation in business to launch their careers.  And of course there’s Harvard’s 2+2 program which is accepting applications this year from current seniors who are willing to postpone their matriculation for two years.
  • The Chronicle of Education announced that Yale raised a record-breaking $3.881-billion in their 5-year Yale Tomorrow fundraising campaign. Although this amount of money is a record for a college or university campaign, many more universities are expected to raise similar amounts by the end of the year.
  • The Chronicle of Education looks at the results of the 2011 College Decision Impact Survey, which showed that 63% of seniors graduating go to their first choice colleges, 35% are not accepted to their first choice, and 31% could not afford their first choice (whether they were or were not accepted). The survey shows that the cost of education is increasingly becoming a major factor in what colleges students choose to attend.
  • There is a slight shift towards “no-loan” financial aid and a Washington Post article lists the 12 colleges with the best financial aid policies: Amherst College, Bowdoin College, Claremont McKenna College, Pomona College, Davidson College, Harvard University (possibly the most generous), Haverford College, Princeton University, Swarthmore College, University of Pennsylvania, Vanderbilt University, and Yale University.
  • People expected the recession to transform college enrollment. However, an article in The Chronicle of Education looks at whether this is in fact the case.  According to a report released by the National Student Clearinghouse Research Center, the number of enrolled students rose as a result of the recession. Yet many believe it will take years to truly discover the ways in which the recession has affected students’ college choices.
  • The Chronicle of Education blog examines how academia will be forced to change in response to innovation in the coming years.  The post suggests that if changes are not made, families will be paying higher prices for education and be unprepared for the cost. Those on the cutting edge of education look at these possible changes in academia and the drawbacks and benefits of overhauling the current higher education system.

5flaws-college

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July’s Featured Ebook: Financing Your Future

July 18, 2011 by

  

When we ask prospective students for their biggest concerns when choosing a graduate program, the most common answer is: tuition.

But there are ways to lessen the burden of loans.  Financing Your Future: Winning Fellowships, Scholarships and Awards for Grad School can help you find the financial support your need to attend the graduate school of your choice.

Too many students are choosing their programs based on financial restraints and not what school is best for them.

In Financing Your Future you’ll learn about scholarships and financial aid, how to put together a strong application, and the program tips and interview advice that will help you on your way.

Save 20% on Financing Your Future: Winning Fellowships, Scholarships and Awards for Grad School during July when you use coupon code: FUTURE20.

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Colleges Lend a Helping Hand with Student Loans

July 11, 2011 by

  

For many future college students the price of a private liberal arts education is just too high. An annual survey conducted by UCLA’s Higher Education Research Institute shows that the economy has an impact on 62% of college students choosing where to enroll.  This means that two-thirds of college applicants make decisions based on cost.

But some colleges are trying to change the situation.  An article in USA Today (“Colleges Offer Graduates Help Repaying Loans”) looks at how Alma College in Michigan and others are promising to help some accepted students pay off their loans after they graduate. The financial aid will be directed specifically at students who plan on entering low-paying public service fields. Jeff Abernathy, president of Alma College, explains: “When we have an excellent student we know will be successful here (but) who has that anxiety about student loans, this is one more tool for us.”

To help these students the college gives around $1,200 per student per year to an association that pools the funds to repay the loans for qualified students who are expected to need it.

  Get the Financial Support

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4th Annual AIGAC Conference: An Inspiring Way to Kick Off the New MBA Application Season

June 23, 2011 by

  

In the first week of June I had the great pleasure of getting together with colleagues from around the world for the Association of International Graduate Admissions Consultants’ annual conference.  This year it was in Palo Alto – thanks to the conference organizers for arranging 3 days of perfect weather! Here is a summary of highlights.

  • I particularly enjoyed a session on the “Next Generation GMAT.”  Ashok Sarathy, Vice President, GMAT Program, GMAC, described its content and the process of developing it and rolling it out in detail next year. Essentially the changes address a weakness in the current test as perceived by businesses, in that it doesn’t measure a factor of increasing importance in business: integrative reasoning. GMAC identified four dimensions to test in this area: ability to assimilate disparate information; ability to interpret data; ability to convert data; and ability to recognize and evaluate tradeoffs and outcomes. To my current and prospective clients: I will work with you to find ways to portray your integrative reasoning skills right away!
  • Interactions with admissions directors from a various MBA programs is always one of the most exciting and rewarding parts of the conference. This year we welcomed admissions officials from Tuck, Columbia, Darden, UCLA Anderson, Yale, Cornell Johnson, and IE in Spain. Haas hosted one session on its campus and updated us on numerous points from financial aid to career services, and Tulane participated as an AIGAC member. Finally, we were thrilled to tour Stanford GSB’s new Knight Management Center and talk with a representative about the program. This year, our theme with the admissions officials was “fit,” and we discussed it primarily in the context of essays and interviews.  We learned some of the nuances of these programs’ current concerns and preferences. In the session on fit and the interview process, one concern emerged loud and clear among the various adcom members: the increasing tendency for interviewees to appear too casual in their dress, their speech, their body language, and their grooming.
  • Not least, I enjoyed talking with many of the AIGAC members representing test prep companies including Veritas, Kaplan, and Manhattan GMAT, and related services such as the online social network Beat the GMAT (please check out Accepted’s forum there!). Since GMAT concerns are a significant factor in MBA admissions, it’s valuable for me to learn about their services as well as the needs and trends they perceive in the market. 

Stanford GSB's new Knight Management Center

By Cindy Tokumitsu, author of numerous ebooks, articles, and special reports. Cindy has worked with hundreds of successful MBA applicants in her last ten years with Accepted. She can help you assess your strengths and weaknesses and develop a winning MBA admissions strategy.

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The Times They Are a’ Changin’

June 19, 2011 by

  

Bob Dylan’s song lyrics capture the meaning behind the statistics Harvard Business School just released in the class profile for its entering class of 2013. It appears Harvard has decided to include fewer finance types in its MBA program, more women and more people from scientific/technical and manufacturing backgrounds.

While Harvard provided the profile on its website, Poets & Quants analyzes the numbers in “Harvard Down on Finance Types”:  

  • Individuals accepted from private equity and venture capital firms fell from 18% to 13%, and those from investment banking and investment management fields went from 14% to 12%.
  • 39% of accepted applicants were women, up 3% from the last two years and the highest percentage of women EVER in a Harvard Business School class.
  • The median GMAT score has hit a new high –a record 730.  Last year’s median was 724, and that score was a record last year.

While these statistics are striking, Harvard’s director of admissions and financial aid, Deirdre Leopold, sent an even more surprising e-mail to round 1 interviewed applicants a day before decisions were released.  This e-mail explained, “that the diversity of Harvard’s class was more important than the quality of the candidates in the admission process. ” Hmmm. Retrospectively, it’s clear Leopold was hinting that, “the times, they are a’ changing.”

Other observations in comparing the class of 2013 vs 2012:

  • Applications to HBS declined approximately 4%. Every little bit helps, but it’s not a big deal when Harvard’s acceptance rate is 11-12%. See next point.
  • Harvard’s yield increased 1% to an eye-popping 90%.
  • The average age edged up from 26 to 27. My take on this stat and HBS’ announcement that it will not admit anyone straight from college and without full-time work experience: Harvard’s infatuation with the “early career candidate” is cooling. I predict other schools will follow suit.

MBA Action Plan

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

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MBA Admissions News Roundup

June 3, 2011 by

  

  • MBA Crystal Ball recently interviewed Accepted.com founder, Linda Abraham, on admissions and how to choose the right business school.  MBA applicants who are interested should read the informative interview here.
  • 2012 MBA applicants should definitely look at US News’s article on financial aid options.  Tuition for some of the top programs can swell to over $100,000, and having to pay that amount is never an easy pill to swallow.  The article suggests that you research the resources your target program offers for merit-based or need-based scholarships.  The programs may also help with loans or lines of credit, especially for international students. Finally, the article urges students to also examine general sites like FastWeb, Peterson’s, and FinAid.
  • The Financial Times announced that London Business School has received a gift of about £10 million from the Deloitte accounting firm.  This is the largest gift ever given to the school, and it will go to sponsor a research center in innovation and entrepreneurship over the span of 10 years.  Most of the money will go towards research funding, but it will also help create a new core course in entrepreneurship, which will hopefully also increase the study of entrepreneurship amongst LBS MBA students.
  • Zoom Interviews has launched a new area on its site to help students prepare for job interviews. This section provides videos with expert interviewers and gives great advice for students about to enter the job market.
  • The Indian School of Business (ISB) announced that it will increase the size of its class from 560 to 770 when its new campus in Mohali is commissioned next year.  

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