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MBA Admissions: NYU Stern & Media/Entertainment

March 21, 2013 by Leave a Comment
NYU Stern

NYU Stern

NYU Stern currently ranks in 11th place as one of the best business schools, according to US News & World Report (March 2012). It is known for having a particularly strong media and entertainment track.

Stern’s Class of 2014 and Media/Entertainment

3907 people applied to NYU Stern in 2012; the entering class size was 389. The average GMAT score was 720 and the class has an average undergraduate GPA of 3.51. The average number of years of work experience for the class of 2014 is 4.8 years.

26% of class of 2014 students have undergraduate degrees in business and commerce; 22% in economics; 21% in engineering, math, and science; 17% in social sciences; and 14% in humanities, arts, or other areas.

In terms of pre-MBA work experience, 10% of students came from the entertainment, media, and technology sector, while 8% have industry backgrounds in nonprofit, arts, and education.

NYU Academics Related to Entertainment & Media

There are four phases to the Stern curriculum:

Phase 1: A 2-week orientation program called LAUNCH that introduces students to New York City and to b-school with tours, panel discussions, speakers, and other activities.

Phase 2: First year core classes. All students must take 2 required courses (Financial Accounting & Reporting and Statistics & Data Analysis) and choose 5 courses from the Menu Core (Firms & Markets, Foundations of Finance, The Global Economy, Leadership in Organizations, Marketing, Operations Management, and Strategy). Students can take electives in their first year. Students can obtain waivers for core classes if they have proficiency in the subject matter.

Phase 3: Summer Internship.

Phase 4: Second year core and elective courses. The only core course for second year students is Professional Responsibility. Other than that, students take elective courses.

Students graduate with an MBA in General Management and between 0 and 3 specializations. It is within these specializations that students will choose their elective courses. Students interested in the entertainment industry would specialize in the Entertainment, Media and Technology (EMT) Specialization.
Students with the EMT Specialization must take Entertainment and Media Industries (1.5 credits) and then choose additional electives totaling 7.5 credits.
They may also want to specialize in a related field like Management of Technology and Operations, Marketing, Digital Marketing, or Law and Business.

Sample courses in the Entertainment, Media and Technology (EMT) Specialization include:

• Business of Independent Film
• Business of Music and Film
• Business of Sports Marketing
• Business Strategy for the Digital Economy
• Craft and Commerce of Cinema: The Cannes Film Festival (a global course)
• Corporate Finance and Strategy in Entertainment and Media
• Entertainment Law
• Operations in Entertainment: Las Vegas
• Television Management
• Film Production
• News & Entertainment Media
• Talent Management
• Special Topics: Financial Analysis in EMT
• Corporate Strategy and Finance in EMT

You can view the complete list of NYU Stern courses here.

Students also have the option of taking elective courses at NYU’S Tisch School of the Arts and Steinhardt School of Education’s Professional Music Business program.

There is also an option of obtaining a dual MBA/MFA through Stern and at the Kanbar Institute of Film &Television at Tisch. (See MBA/MFA program details here.)

Between semesters, students may study abroad by participating in the Doing Business in…(DBi) Program. There are also semester abroad programs, global courses (that include trips overseas), and International Club Treks. (More details on these global programs and others can be found here.)

NYU Stern Entertainment-Related Clubs

• Entertainment, Media and Technology Association
• Graduate Marketing Association
• Media, Entertainment, and Sports Association (MESA)

Entertainment & Media Hiring Stats at NYU Stern

The chart below indicates the hiring stats for 2011 entertainment/media careers:

Industry Percent       Base Salary Range ($)  
Full-time positions: Media/Entertainment/Technology 11% $50,000-$140,000
(per year)
Summer internships: Media/Entertainment/Technology 12% $0 – $2,500 (per month)

Top entertainment/media hirers include (an asterisk indicates that the company hired 3 or more students in 2011):

Disney*Google*
HBO
Major League Baseball
Microsoft*
MTV Networks
NBC Universal		 The New York TimesSamsung*
Sony*
Time Inc.
Univision Communications*
Yahoo!*
Zynga

You can read more about Stern and the EMT industries here.



Are you applying to NYU’s Stern School of Business? Please see our NYU Stern B-School Zone and Stern School of Business Application Packages for more information on how Accepted.com can help you get accepted.

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NYU Stern Executive MBA 2013 Essay Tips

March 13, 2013 by Leave a Comment

NYU SternNYU Stern Executive MBA Essay Questions and Tips

The 2013 NYU EMBA questions are almost identical to the questions from 2012 and we have made only minor changes to the tips.

Reflecting the character of the university at large, NYU Stern has always sought applicants who bring not just requisite accomplishment, but also intellectual energy and engagement with the world – people who have something to say. Stern’s EMBA essay questions are consistent with these values. While they cover the standard concerns, they also draw out your ability to self-reflect and to understand yourself in relation to others. The key to acing these essays is not just to write competent and logical essays, but also to present a point of view, a message, a distinctive perspective that will enrich the EMBA table.

Please adhere to the essay word limits provided for each question. Word limits apply to the total essay question. For example, your response to Essay 2 should answer both part (a) and part (b) with a maximum of 750 words.

1. Describe your short- and long-term career goals and how the NYU Stern Executive MBA program will help you accomplish them. (500-750 words, double-spaced)

One simple, straightforward, and effective way to structure this essay is to start with where you are in your career to set the context (and convey a little about your current situation, emphasizing what is impressive and/or distinctive about it), and discuss how the business education will enable you to achieve your immediate MBA goals in your current role. Then move on to your intermediate and longer-term goals, which should logically flow out of this present role. In describing your goals at any point clarify why you would take that step or pursue that role. In discussing how the program will benefit you, be specific: describe what skills and knowledge you need to acquire and how the program meets those needs. Also refer to the structure, curriculum, and/or special features of the program, noting how you will benefit from them. Finally, resist the temptation to detail your career progress — limit yourself to points relevant to your goals.

2. High functioning study groups help to navigate the academics of the NYU Stern Executive MBA program. Students are placed in groups of four to six students, each with a diverse mix of professional backgrounds and skill sets. (500-750 words, double-spaced)

a) What role(s) do you see yourself playing within your study group?

b) What is the ONE most unique personal or professional characteristic that you have that will benefit your group?

I suggest answering part (b) first, at least in your mind, because that point will at least partially shape your answer to part (a).

Discuss a characteristic that is truly telling about you, is manifested in your most significant achievements, AND is relevant and beneficial to the group process. In answering part (b), describe this characteristic briefly and then illustrate it through an anecdote or two. Next discuss how it will enable you to contribute to the study group in concrete terms, with an example. Finally, for (a) briefly discuss another couple of ways you can contribute – they can reflect personal qualities/characteristics, industry perspective/experience, special skills, or compelling personal experiences.

3. The NYU Stern Executive MBA program’s curriculum is designed with a strong global focus. Stern is committed to helping students develop not only a deeper set of professional skills, but also a broader perspective of the role of business in the world. (500-750 words, double-spaced)

a) What is a pressing contemporary issue on which you would like to have an impact?

b) Why is it important to you?

c) How could you, as a business leader, leverage your skills and resources to address the issue?

The most important advice here: select an issue that you truly care and are knowledgeable about. You may research some fine points, but responses to this type of question that are entirely constructed of research on a topic the writer thinks will be impressive for some reason just don’t work. A simple and effective structure for this essay is to follow the a-b-c- points. First talk about the issue in personal as well as objective terms, i.e., how you came to learn and/or care about it, perhaps what experience you’ve had with it if relevant. Take a stand; avoid being bland or abstract. Then describe how as a business leader you can address this issue. This last part will vary greatly from person to person – for some your work will directly address this issue; for others work will be divorced from it, and you will indirectly use your business leadership role as a bully pulpit, as a prominent and influential community leader/volunteer, etc.

Optional Essays

Optional Additional Essay
Please provide any additional information of which you would like the Admissions Committee to be aware. This may include additional details on your academic or quantitative preparedness through academic or professional experience, further explanation of academic history, current or past gaps in employment, or any other information relevant to your application. (500 word limit, double-spaced)

This question’s wording indicates that you can use it not just to explain a problem (low GMAT, employment gap) but also to present new material that you think will enhance your application. However, if you are making the adcom read more than is required, there better be a darn good reason; not just a nice-to-know. First, succinctly explain any points that need explaining. Then, if there is something you feel is important that you haven’t had a chance to discuss elsewhere, write about it, noting why it’s essential to a full understanding of your candidacy.

Optional Scholarship Essay
The NYU Stern Executive MBA program offers a limited number of scholarships each year to applicants receiving minimal or no financial sponsorship. There are many more qualified candidates than there are scholarships available. Scholarships are determined at the time of admission and communicated in the letter of admission if awarded. If you wish to be considered for a scholarship, please respond to the following:

NYU Stern has a strong reputation for fostering entrepreneurial spirit. Imagine the NYU Stern Executive MBA Admissions Committee is a group of potential investors, representing a broad spectrum of stakeholders. Why should the Admissions Committee invest in you as a global business leader? Be sure to articulate your competitive advantage, as well as the personal and professional qualities that make you the most compelling candidate for an NYU Stern Executive MBA program scholarship. (500 word limit, double-spaced)

This essay is essentially your portrait – your candidacy at a glance. Beware of a pitfall: in presenting your competitive advantage and your qualities, do not just list accomplishments that repeat your resume, repeat qualities described in essay 2, or repeat the goals in the goals essay. Also, don’t present everything you think gives you a competitive advantage and/or all relevant qualities; select carefully which points to discuss. Focus on those that (a) are really distinctive and relevant to the MBA and/or (b) support your goals directly or indirectly and also (c) enhance rather than repeat the application. Developing an overarching message or theme for this essay before you write it will help you shape and select the content.

If you would like help with these NYU EMBA essays, please consider Accepted.com’s EMBA admissions consulting and EMBA essay editing services.

For the August 2013 class start, the deadline is May 15, 2012

Find more application tips for top EMBA programs here

Cindy Tokumitsu

By , co-author of The EMBA Edge, and author of the free special report, “Ace the EMBA.”acetheemba

 

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MBA Admissions: NYU Stern & International Business

February 17, 2013 by Leave a Comment
NYU Stern

“6th Place for International Business”

A quick glance at NYU Stern currently ranks in 11th place as one of the best business schools, according to US News & World Report (March 2012). It is ranked in 6th place for international business.  

Stern’s Class of 2014 and International Business

3907 people applied to NYU Stern in 2012; the entering class size was 389. The average GMAT score was 720 and the class has an average undergraduate GPA of 3.51. The average number of years of work experience for the class of 2014 is 4.8 years.

26% of class of 2014 students have undergraduate degrees in business and commerce; 22% in economics; 21% in engineering, math, and science; 17% in social sciences; and 14% in humanities, arts, or other areas.

In terms of pre-MBA work experience, the largest group of students came from the financial services industry (23% of the class). This is followed by 11% from consulting, 10% from banking, 10% from entertainment/media/technology, 8% from nonprofit/arts/education, 5% from advertising/public relations, 5% from the military/government, 4% each from consumer products/retail and law, 3% each from pharmaceuticals/healthcare and real estate, and 2% each from energy and engineering industries. The remaining 10% of the class falls under the “other” category.

NYU Academics Related to International Business

There are four phases to the Stern curriculum:

Phase 1: A 2-week orientation program called LAUNCH that introduces students to New York City and to b-school with tours, panel discussions, speakers, and other activities.

Phase 2: First year core classes. All students must take 2 required courses (Financial Accounting & Reporting and Statistics & Data Analysis) and choose 5 courses from the Menu Core (Firms & Markets, Foundations of Finance, The Global Economy, Leadership in Organizations, Marketing, Operations Management, and Strategy). Students can take electives in their first year. Students can obtain waivers for core classes if they have proficiency in the subject matter.

Phase 3: Summer Internship.

Phase 4: Second year core and elective courses. The only core course for second year students is Professional Responsibility. Other than that, students take elective courses. Up to 5 of these courses may be taken at another NYU grad school.

Students may choose between 0-3 specializations. It is within these specializations that students will choose their elective courses. Relevant specializations for those interested in international business are Economics, Global Business, Law and Business, and Financial Instruments and Markets. (Click on the links to see sample courses from each of the categories.)

Since 38% of the Stern class hails from non-US or dual citizenship backgrounds, international business is an extremely relevant topic of study.

International business courses include:

  • Global Perspectives on Enterprise Systems
  • Emerging Financial Markets
  • Global Banking and Capital Markets
  • Globalization of the Entertainment Industry
  • Growth in the Developing World and the Global Economy
  • International Accounting and Financial Statement Analysis
  • International Finance – International Investments Analysis
  • International Financial Management
  • International Macroeconomic Policy: Lessons from the BRICs
  • International Social Impact Strategies
  • Monetary Policy, Banks, and Central Banks
  • Multinational Business Management
  • The Future of the Global Economy
  • Topics in International Finance
  • Advanced Global Perspectives on Enterprise Systems
  • Communication for the Global Economy

You can view the complete list of NYU Stern courses here.

Between semesters, students may study abroad by participating in the Doing Business in…(DBi) Program (with programs in Argentina, Australia, Brazil, China, Costa Rica, Hungary, India, Italy, Israel, Istanbul, Singapore, and Spain – see specific course details here). There are also semester abroad programs, global courses (that include trips overseas, like to Cannes for The Craft & Commerce of Cinema course, and to India for the winter break International Social Impact Strategies course), and International Club Treks. (More details on these global programs and others can be found here.)

There are also dual degree offerings including an MBA/MA in French Studies, an MBA/MA in Politics, and a Dual MBA with HEC School of Management in France.

Global Business Research Centers at NYU Stern

NYU Stern Global Business Clubs

International Business Hiring Stats at NYU Stern

See full-time hiring stats here and internship stats here.

See a list of top hirers at NYU Stern here.

Are you applying to NYU’s Stern School of Business? Please see our NYU Stern B-School Zone and Stern School of Business Application Packages for more information on how Accepted.com can help you get accepted.





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Financial Times’ 2013 Global MBA Rankings

January 30, 2013 by Leave a Comment
B-School Rankings

Harvard Business School

Drum roll please…The Financial Times ranks the top 25 global b-schools as follows…

1. Harvard Business School
2. Stanford Graduate School of Business
3. University of Pennsylvania – Wharton
4. London Business School
5. Columbia Business School
6. INSEAD
7. IESE Business School
8. Hong Kong UST Business School
9. MIT Sloan
10. Chicago Booth
11. IE Business School
12. UC Berkeley Haas
13. Northwestern Kellogg
14. Yale School of Management
15. CEIBS – China
16. Dartmouth Tuck (tied)
16. Cambridge Judge (tied)
18. Duke Fuqua
19. Switzerland (tied)
19. NYU Stern (tied)
21. HEC Paris
22. ESADE Business School – Spain
23. UCLA Anderson
24. Oxford Saïd (tied)
24. Cornell Johnson (tied)

(You can read about the FT’s ranking methodology here.)

A few points of interest (from the FT’s lead article)

  • 51 of the top 100 schools are located in the U.S. including 6 schools in the top 10.
  • 26 of the top 100 schools are located in Europe. London Business School is the top school in that region.
  • 14 of the top 100 schools are located in Asia (up from 12 last year). Hong Kong University of Science and Technology is the top b-school in that region.
  • Since 1999 when the FT began publishing MBA rankings, only four schools have ranked in first place: HBS, Stanford GSB, Wharton, and London Business School.
  • The male-female salary gap this year has narrowed for the first time. Instead of the traditional $20,000 pay gap (three years post-graduation), the gap is down to $10,000 at $126,000 average salary for women and $136,000 average salary for men.

FYI: Poets & Quants published a critique of the 2013 FT ranking in “Stanford Alums Make the Most Dough.” In this article, John Byrne, rankings savant and designer of the original BW rankings, points out anomalies and weaknesses in the FT results.

MBA50 provides additional analysis in “The FT Full-Time MBA Ranking 2013 – Winners and Losers.” Its final line sums up all the hub-bub about rankings – any rankings – beautifully: “Only you can work out the best business school in the world…for you.” ,

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MBA Admissions: NYU Stern & Accounting

January 10, 2013 by Leave a Comment
NYU Stern

“8th Place for Accounting”

A quick glance at NYU Stern currently ranks in 11th place as one of the best business schools, according to US News & World Report (March 2012). It is ranked in 8th place for accounting.  

Stern’s Class of 2014 and Accounting

3907 people applied to NYU Stern in 2012; the entering class size was 389. The average GMAT score was 720 and the class has an average undergraduate GPA of 3.51. The average number of years of work experience for the class of 2014 is 4.8 years.

26% of class of 2014 students have undergraduate degrees in business and commerce; 22% in economics; 21% in engineering, math, and science; 17% in social sciences; and 14% in humanities, arts, or other areas.

In terms of pre-MBA work experience, the largest group of students came from the financial services industry (at 23% of the class). This is followed by 11% in consulting and 10% in banking.

NYU Academics Related to Accounting

There are four phases to the Stern curriculum:

Phase 1: A 2-week orientation program called LAUNCH that introduces students to New York City and to b-school with tours, panel discussions, speakers, and other activities.

Phase 2: First year core classes. All students must take 2 required courses (Financial Accounting & Reporting and Statistics & Data Analysis) and choose 5 courses from the Menu Core (Firms & Markets, Foundations of Finance, The Global Economy, Leadership in Organizations, Marketing, Operations Management, and Strategy). Students can take electives in their first year. Students can obtain waivers for core classes if they have proficiency in the subject matter.

Phase 3: Summer Internship.

Phase 4: Second year core and elective courses. The core course for second year students is Professional Responsibility. Other than that, students take elective courses. Up to 5 of these courses may be taken at another NYU grad school.

Students graduate with an MBA in General Management and between 0-3 specializations. It is within these specializations that students will choose their elective courses. Students interested in accounting would probably specialize in Accounting and one or two other specialties related to finance (Finance, Banking, Corporate Finance, Financial Instruments and Markets, Financial Systems and Analytics, and Quantitative Finance).

Sample courses in the accounting specialty include:

  • Accounting for Mergers, Acquisitions and Related Matters
  • An Integrated Approach to Financial Statement Analysis
  • Auditing
  • Business Law for Managers
  • International Accounting and Financial Statement Analysis
  • Managing Investment Funds

You can view the complete list of Department of Accounting courses here.

Between semesters, students may study abroad by participating in the Doing Business in…(DBi) Program. There are also semester abroad programs, global courses (that include trips overseas), and International Club Treks. (More details on these global programs and others can be found here.)

NYU Stern Accounting Clubs, Events, and Research Centers

Accounting Hiring Stats at NYU Stern

There is no data specifically for full-time job industries or functions related to accounting, but the following charts show the breakdown in the related finance sector:

Industry Percent Base Salary Range ($)
Investment Banking 28 80,000-175,000
Diversified Financial Services 11 92,000 – 140,000
Investment Management / Hedge Fund 4 75,000 – 150,000
Private Equity / Venture Capital 3 N/A

***

Function Percent Base Salary Range ($)
Investment Banking 18 80,000-175,000
General / Corporate Finance 7 70,000 – 135,000
Sales / Trading 5 100,000 – 105,000
Investment Management 2 75,000 – 115,000
Private Banking / Private Client Services 2 100,000 – 125,000
Private Equity 2 N/A
Structured / Project Finance 1 N/A

***

For summer internships for the Class of 2012, 31% received jobs in the investment banking industry, 9% in diversified financial services, and 8% in “other” which includes accounting.

Top finance hirers include (an asterisk indicates that the company hired 3 or more students in 2011):

  • American Express*
  • Bank of America Merrill Lynch*
  • Barclays Capital*
  • Citi*
  • Credit Suisse*
  • Deutsche Bank*
  • Federal Reserve Bank of NY*
  • GE*
  • Goldman Sachs*
  • HSBC*
  • JPMorgan*
  • MetLife Investments
  • Morgan Stanley*
  • Nomura Securities*
  • PIMCO
  • RBC Capital Markets*
  • Standard & Poor’s
  • UBS*

Are you applying to NYU’s Stern School of Business? Please see our NYU Stern B-School Zone and Stern School of Business Application Packages for more information on how Accepted.com can help you get accepted.


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MBA Admissions: NYU Stern & Marketing

December 14, 2012 by Leave a Comment
NYU Stern

“9th Place for Marketing”

A quick glance at NYU Stern currently ranks in 11th place as one of the best business schools, according to US News & World Report (March 2012). It is ranked in ninth place for marketing.  

Stern’s Class of 2014 and Marketing

3907 people applied to NYU Stern in 2012; the entering class size was 389. The average GMAT score was 720 and the class has an average undergraduate GPA of 3.51. The average number of years of work experience for the class of 2014 is 4.8 years.

26% of class of 2014 students have undergraduate degrees in business and commerce; 22% in economics; 21% in engineering, math, and science; 17% in social sciences; and 14% in humanities, arts, or other areas.

In terms of pre-MBA work experience related to marketing, 5% of the class come from the advertising/public relations industry and 4% come from the consumer products/retail industry.

NYU Academics Related to Marketing

There are four phases to the Stern curriculum:

Phase 1: A 2-week orientation program called LAUNCH that introduces students to New York City and to b-school with tours, panel discussions, speakers, and other activities.

Phase 2: First year core classes. All students must take 2 required courses (Financial Accounting & Reporting and Statistics & Data Analysis) and choose 5 courses from the Menu Core (Firms & Markets, Foundations of Finance, The Global Economy, Leadership in Organizations, Marketing, Operations Management, and Strategy). Students can take electives in their first year. Students can obtain waivers for core classes if they have proficiency in the subject matter.

Phase 3: Summer Internship.

Phase 4: Second year core and elective courses. The core course for second year students is Professional Responsibility. Other than that, students take elective courses. Up to 5 of these courses may be taken at another NYU grad school.

Students graduate with an MBA in General Management and between 0-3 specializations. It is within these specializations that students will choose their elective courses. Relevant specializations for those interested in marketing are Marketing, Luxury Marketing, Digital Marketing, Product Management, and
Entertainment, Media and Technology. (Click on the links to see sample courses from each of the categories.)

You can view the complete list of NYU Stern courses here.

Marketing Electives at Other NYU Grad Schools

Electives at Steinhardt School of Culture, Education and Human Development:

  • Marketing the Music Industry
  • Music Industry Broadcast Promotion/Publicity
  • Visual Arts Markets

 Electives at NYU Wagner School of Public Service

  • Marketing for Nonprofit Organizations

Between semesters, students may study abroad by participating in the Doing Business in…(DBi) Program. There are also semester abroad programs and International Club Treks. A Global Courses that may appeal to marketing students (that include trips overseas) is A Craft & Commerce of Cinema. (More details on these global programs and others can be found here.)

NYU Stern Marketing-Related Clubs, Competitions, and Conferences

Marketing Hiring Stats at NYU Stern

The chart below shows the hiring stats for 2011 MBA careers in marketing/consumer products:

Function/Industry Percent Base Salary Range ($)
Function: Marketing 18 60,000 – 120,000
Function: Research 5 100,000 – 150,000
Industry: Consumer Products 8 65,000 – 108,000

Top consumer products/beauty and marketing hirers include: (an asterisk indicates that the company hired 3 or more students in 2011):

  • American Express*
  • Avon
  • Bayer Healthcare*
  • Colgate-Palmolive*
  • Dannon
  • Diageo
  • Estee Lauder*
  • General Mills
  • Johnson & Johnson*
  • Kraft*
  • L’Oreal*
  • PepsiCo*
  • Pfizer*
  • Post Foods
  • Procter & Gamble
  • Reckitt Benckiser*
  • Unilever*

Are you applying to NYU’s Stern School of Business? Please see our NYU Stern B-School Zone and Stern School of Business Application Packages for more information on how Accepted.com can help you get accepted.


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MBA Admissions: NYU Stern & Finance

December 9, 2012 by Leave a Comment
NYU Stern

“3rd Place for Finance”

A quick glance at NYU Stern currently ranks in 11th place as one of the best business schools, according to US News & World Report (March 2012). It is ranked in third place for finance.  

Stern’s Class of 2014 and Finance

3907 people applied to NYU Stern in 2012; the entering class size was 389. The average GMAT score was 720 and the class has an average undergraduate GPA of 3.51. The average number of years of work experience for the class of 2014 is 4.8 years.

26% of class of 2014 students have undergraduate degrees in business and commerce; 22% in economics; 21% in engineering, math, and science; 17% in social sciences; and 14% in humanities, arts, or other areas.

In terms of pre-MBA work experience, the largest group of students came from the financial services industry (at 23% of the class). This is followed by 11% in consulting and 10% in banking.

NYU Academics Related to Finance

There are four phases to the Stern curriculum:

Phase 1: A 2-week orientation program called LAUNCH that introduces students to New York City and to b-school with tours, panel discussions, speakers, and other activities.

Phase 2: First year core classes. All students must take 2 required courses (Financial Accounting & Reporting and Statistics & Data Analysis) and choose 5 courses from the Menu Core (Firms & Markets, Foundations of Finance, The Global Economy, Leadership in Organizations, Marketing, Operations Management, and Strategy). Students can take electives in their first year. Students can obtain waivers for core classes if they have proficiency in the subject matter.

Phase 3: Summer Internship.

Phase 4: Second year core and elective courses. The core course for second year students is Professional Responsibility. Other than that, students take elective courses. Up to 5 of these courses may be taken at another NYU grad school.

Finance Electives at Other NYU Grad Schools
Electives at NYU School of Law: 

  • Corporations
  • Mergers and Acquisitions
  • Survey of Securities Regulation

Electives at NYU Graduate School of Arts and Sciences:

  • Development of Economics
  • Economics/Financial History of Europe
  • Math for Economists
  • Seminar in Econometrics
  • Theory of Economic Development

Electives at NYU Courant Institute of Mathematical Sciences: 

  • Derivative Securities
  • Financial Engineering Models for Corporate Finance
  • Case Studies in Financial Modeling

Students graduate with an MBA in General Management and between 0-3 specializations. It is within these specializations that students will choose their elective courses. Relevant specializations for those interested in finance are Finance, Banking, Corporate Finance, Financial Instruments and Markets, Accounting, Financial Systems and Analytics, and Quantitative Finance. (Click on the links to see sample courses from each of the categories.)

You can view the complete list of NYU Stern courses here.

Between semesters, students may study abroad by participating in the Doing Business in…(DBi) Program. There are also semester abroad programs, global courses (that include trips overseas), and International Club Treks. (More details on these global programs and others can be found here.)

There is also a dual degree offering of an MBA/MS in Mathematics in Finance.

Finance Research Centers at NYU Stern

NYU Stern Finance-Related Clubs

Financial Services Hiring Stats at NYU Stern

The charts below indicates the hiring stats for 2011 finance careers: 

Industry Percent Base Salary Range ($)
Investment Banking 2 80,000 – 175,000
Diversified Financial Services 11 92,000 – 140,000
Investment Management/Hedge Fund 4 75,000 – 150,000
Private Equity/Venture Capital 3 N/A
Function Percent Base Salary Range ($)
Investment Banking 18 80,000 – 175,000
General/Corporate Finance 7 70,000 – 135,000
Sales/Trading 5 100,000 – 105,000
Investment Management 2 75,000 – 115,000
Private Banking/Private Client Services 2 100,000 – 125,000
Private Equity 2 N/A
Structured/Project Finance 1 N/A

Top finance hirers include: (an asterisk indicates that the company hired 3 or more students in 2011):

  • American Express*
  • Bank of America Merrill Lynch*
  • Barclays Capital*
  • Citi*
  • Credit Suisse*
  • Deutsche Bank*
  • Federal Reserve Bank of NY*
  • GE*
  • Goldman Sachs*
  • HSBC*
  • JPMorgan*
  • MetLife Investments
  • Morgan Stanley*
  • Nomura Securities*
  • PIMCO
  • RBC Capital Markets*
  • Standard & Poor’s
  • UBS*

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Top B-School App Volume Plummets

September 13, 2012 by Leave a Comment
applications go down at top b-schools

Applications are down at top b-schools

A recent Bloomberg Businessweek article explains that as Wall Street faces turmoil, applications go down at top b-schools with close finance industry ties, specifically Columbia Business School and NYU Stern.

Half of Columbia’s 2012 graduates entered financial services, with 18 MBAs heading to Goldman Sachs alone. This year, Columbia experienced a 19% decrease in full-time MBA applications.

According to Columbia’s vice dean, Amir Ziv, “There’s merit to the argument that if the financial industry isn’t doing well, it should hit schools that are more exposed to it than others. In the long run, if it’s not doing well, you’ll have fewer students interested in schools that are excellent in finance.”

Last year, NYU Stern sent 46% of its graduating class into the financial service industry. This year, applications are down 12%.

The hit on application volume is much lighter, the article goes on to say, at schools that rely less on Wall Street jobs. At Harvard Business School, for example, applications are down only 2%, and at Wharton, only 1%. These schools, as well as Chicago Booth which has also experienced only a slight decline in applications, report that about 40% of 2012 graduates entered the financial services industry.

The Graduate Management Admission Council (GMAC) reported that interest in financial jobs has been down since 2008 (with a short upward jump in 2010).

A Poets & Quants article shows that despite these declines, Columbia has a silver lining to celebrate: It just received an anonymous $25 million gift. And let’s not forget the $100 million gift CBS received two years ago.

For more information on the current application volume drops, please see “Chicago Booth Apps Down 3%” and “Columbia MBA Apps Plunge 19%,” two more recent P&Q articles.

My Take + Takeaways for Applicants:

I’m not convinced that the sharp plunge for Columbia and serious drop for NYU is solely due to their ties to Wall Street. Chicago, Wharton, and Yale, for example, send and receive similar percentages of their classes to and from Wall Street and suffered much smaller drops in application volume. Lack of no-co-signer loans for international applicants certainly is likely a contributing factor at CBS. I also saw some speculation that the documentary Inside Job, which does not portray Columbia’s dean favorably, may also have hurt the school.  Dependence on Wall Street accounts for some of the drop, but I don’t believe that it accounts for all of it.

However, as both Poets and Quants and Bloomberg Businessweek point out, the drop means a higher acceptance rate at Columbia and NYU. It means that if Columbia is to maintain its high average GMAT score, it will need to be a little less choosy about grades or extra-curriculars. It may welcome (and again be a little less choosy) about non-financial types so that it can diversify. (FYI: Diversification is one of those things b-schools say is a good thing.)

At the same time, it’s too early to break out the champagne in anticipation of an easy acceptance at this Ivy League program. If Columbia admits the same number of applicants as it did in previous years, even with the drop in applications, it will still have only an acceptance rate slightly above 20%. While significantly higher than Columbia’s 15.9% acceptance rate in 2011, CBS will still reject roughly four applicants for every one that it accepts.

If you take the purpose-driven approach to admissions that I advocate, apply to Columbia, NYU, and any other program if you feel it supports your goals and that you have a reasonable chance of acceptance. Columbia has excellent programs in value investing, private equity, real estate, luxury goods marketing, retail, and a host of other fields. If those programs will help you achieve your goals, your chances of acceptance have improved and the quality of those programs has not changed. BUT, you will still need to do better than the competition. You can just expect less competition than those applicants who applied two years ago, when Columbia accepted approximately one out of six applicants.

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MBA Admissions: Creativity Lessons from Pogue’s Wedding Proposal

September 2, 2012 by Leave a Comment

You may be familiar with David Pogue, who writes articles for The New York Times about technology (and writes dozens of books about technology, and hosts many television programs about technology, and so on).  Recently he proposed to his fiancée in a most unusual way: through a fake movie trailer he created and showed at a theater where she was in attendance.  (She said yes.)  People in the audience liked the trailer and asked him to post it online so they could show their friends.  With his fiancée’s approval, he did so—and now it’s gone viral.  He tells the story of his trailer in a New York Times blog post that accompanies his video.  How he did it is impressive.

More, how he did it holds lessons for business school applicants, because at least two major schools ask for presentations as creative as his.  NYU Stern asks applicants to “please describe yourself to your MBA classmates.  You may use almost any method to convey your message.  Feel free to be creative.”  Chicago Booth similarly asks applicants to give “a four-slide presentation” that “broadens our perspective about who you are.  The content is completely up to you.  There is no right, or even preferred, approach to this presentation.”

If you are applying to these or other schools that prompt you for a wide open response, then you must come up with your own creative proposal that gets your audience to say yes.  How?  Let’s look at David Pogue’s approach for some helpful lessons.

  • Get others to help you come up with a great idea.  Pogue got his idea for a fake movie trailer from his kids.  Your idea too can come from family—or from friends, coworkers, or even strangers you hear in passing.  Don’t limit the source of your ideas to yourself.
  • Plan, plan, plan.  Pogue clearly thought out his whole movie trailer in intricate detail, right down to the timing of his on-screen actors’ responses to his live proposal.  Because of all the thinking up front, shooting took just two days.  Map out your own plan for your presentation; it will save you time when you execute it and the quality will show in the results.
  • Use the technology you have on hand, and use it creatively.  Some who saw Pogue’s video thought it cost him thousands of dollars, but it didn’t: he used friends as actors, moving cars as dollies, and still cameras as video recorders.  Creativity doesn’t end with the idea for your presentation; it continues through the execution of your presentation.
  • Know your audience.  David Pogue impressed his audience—his fiancée—simply by being David Pogue.  Through your presentation, the admissions committee wants to know you—the kind of person you are.  Give them that!  Don’t give them a list of accomplishments, or a full chronology of your life, or some made-up persona—just give them you, the person your closest coworkers see, the person your friends see, the person your family sees.  If those close to you can recognize you in your presentation, then the admissions committee will as well.

David Pogue could have proposed to his fiancée in a traditional way.  No one would have noticed.  Similarly, a business school applicant could respond to the NYU and Chicago questions in a traditional way, with a straightforward essay and a standard slide set.  No one would notice—and that’s a problem, because the worst thing you can do as a business school applicant is not be noticed.  No doubt it scared David Pogue to take a big, creative risk; it scares my clients too when they answer creative questions like these.  But if he can do it well, so can you: taking a creative risk got him noticed, and it will get you noticed in a good way too.

By R. Todd King, an MIT MBA, who has worked with MBA applicants since 2001. Todd can help you make the most of your strengths and mitigate your weaknesses.

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Current Student Interview – Richard from NYU Stern

August 24, 2012 by Leave a Comment
NYU student - Richard Liao

NYU student – Richard Liao

Here’s a talk with Richard Liao, who is about to start his second year at NYU Stern. Thank you Richard for sharing your thoughts and experiences with us!

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

Accepted: First, can you tell us a little about yourself – where are you from? What and where did you study as an undergraduate and when did you graduate? Do you hold any other degrees?

Richard:  I was born in the States, and I went back to Taiwan to go through my childhood until the age of 13, and came back to LA to study for high school. I then decided to go to the east coast to check out the different dynamics, so I enrolled in Cornell University first in Operations Research & Industrial Engineering, and then did a Master of Financial Engineering in Cornell as well as preparation for transition into Finance, investment banking. After a couple of years of stink at Wall Street I decided to pursue an MBA at Stern to transform myself into a management consultant.

Accepted: Why did you choose NYU Stern? 

Richard: I think there are three pillars about NYU Stern that really attract me.

  1. Smart, driven, yet down to earth people - Every top 10 business school is full of smart people, and we all know that. So nothing too particular about it. What really sets Stern apart from the rest is that we are a very practical, realistic group of people. We execute on what we said, and we walk the talk. You can be a charismatic leader but if all you do is talk, in the long-run it won’t work when the business condition shifts. Therefore. NYU Stern is about a practical, executionable attitude when they select future MBAs.
  2. New York City – I am a city person, and there are just so many resources you can leverage in a city. No matter if it is networking for recruiting or just socializing with friends and classmates, NYC has so much to offer…this is important if you can be level-headed yourself in a more intense yet energetic environment.
  3. Finance & Strategy focus curriculum - NYU Stern has great strategy & finance professors. Professor Marciano is a famous strategy professor and she is one of the best at teaching strategic management. Professor Demodaran is a frequently quoted speaker from CNBC and the Wall Street Journal, and his corporate finance course is a must. I think if you want to work in finance or consulting, you can’t go wrong with NYU Stern.

Accepted: Can you tell us a bit about your MFE from Cornell? What is financial engineering?

Richard: If you think about engineering, it is about assembling individual components and constructing something out of this creation. For example, mechanical engineering assembles different components such as an engine or pipeline into a car. Similarly, financial engineering is about constructing the financial instruments by using derivatives to feed into enterprising clients’ needs.

Accepted: What are some of your favorite things about living in New York City? 

Richard: New York City can satisfy all different kinds of palates. You can go for Indian food one day and the next day you can enjoy Brazilian BBQ. In addition, if you enjoy meeting new people and going out, there is no better place than NYC to do so. It can be quite intense when you go out on a consecutive basis…but it is a life-style that you can pick and decide. Of course, a lot of cultural stuff happens in NYC as well such as museums, street fairs, Broadway shows, etc.

Accepted: How does studying in the Big Apple compare to studying in Ithaca?

Richard: It is quite different. And I will be honest – I love every aspect of living in a city, and don’t really enjoy Ithaca.

Accepted: I see you’re now interning at IBM. What is your position there and what role did NYU play in helping you secure that position?

Richard: I am a Summer MBA consultant at IBM’s Strategy & Transformation (S&T), which is a management consulting arm for IBM Global Business Services. My role is to become a capable consultant to support my team in the industrial sector in all strategic initiatives when we engage with our client. I will say NYU Stern opens the door for you to recruit with IBM S&T, but it is more about you needing to nail your interviews to be able to get in.

Accepted: Do you have any advice for some of our applicants who will be applying to NYU Stern?

Richard: I think it is more about really understanding why you want an MBA. You should spend 75% of your time brainstorming and understanding what you wanna do and what you wanna get out of it. Put in consulting jargon, what is the value added from an MBA and particularly for you, because every case is different just like different core client engagement. And be prepared to present yourself to your interviewer because NYU really cares about the interview; a perfect resume does not get you in, but a well-conducted interview will.

For one-on-one guidance on the Stern application, please see our NYU Stern packages. For specific advice on how to create the best application for NYU see Linda’s NYU Stern 2013 Essay Questions, Deadlines, and Tips.

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