USC Marshall 2015 MBA Essay Tips & Deadlines

All you need to know about USC Marshall

USC Marshall School of Business

On one hand, the new USC Marshall MBA essay question is very focused: goals, why Marshall.  There is a little twist, however, which gives the question an intriguing complexity: personal and/or professional goals…  What does this twist say about Marshall?  That the adcom trusts you to frame your goals in the most meaningful way, and to reveal or not reveal personal considerations and plans as you see fit. Knowing yourself – what you want and need and why, and knowing how to present and share what’s important about you will be keys to contributing to Marshall’s collaborative community and making productive use of Marshall’s flexible program. In this one essay, convey that knowledge.

Required Essay: What are your short-term and long-term personal and/or professional goals following graduation from USC Marshall? How will USC Marshall enable you to develop or improve your skills in order to reach your goals? (500-700 words)

Most people will want to address professional goals in this essay, and I suggest doing so.  As far as personal goals, there is no one formula that works for everyone; some may address this point extensively, and some not at all – and both approaches may be exactly right for those particular applicants.  That said, there is not necessarily a solid line between personal and professional goals, and so if you address (a) how you intend your career to develop and (b) how you want to grow through the MBA experience, that will likely be just fine, and you needn’t worry about personal versus professional.  

The key is to be specific about whatever goals you do discuss.  Clarify why the goal is important to you, and give some concrete and practical expression of what achieving it will look like.  Don’t forget to discuss both short- and long-term goals, and for the former, for professional goals be specific about industry, function, type of company, perhaps geography.

In explaining how USC Marshall will facilitate these goals, cite particular qualities and aspects of the program that address your learning and growth needs, and/or your academic or professional interests.  Rather than citing 10 things you like about the program, focus on the top 2-4 in some depth, with thoughtful insight about their applicability to you.

Optional essay: Please provide any additional information that you believe is important and/or will address any areas of concern that will be beneficial to the Admissions Committee in considering your application. (250 words)

This question invites you to both discuss points that will enhance your application and explain anything that needs explaining (e.g., gap in employment, choice of recommender, etc.). For the former, if you ask the adcom to read additional material, make sure that it truly illuminates and is germane to your candidacy.  It should not be something that is just nice for the adcom to know.  

Re-application Essay: Please describe any significant professional, personal, or academic growth since your last application to the USC Marshall School of Business. Discuss your specific professional goals and how the USC Marshall Full-Time Program will help you achieve these goals. (500 words)

The key to a successful reapplication is to show growth and that’s the job of this essay. At least one of the growth points you present should be professional – there are the obvious things like a promotion or a new project to lead, and less obvious things like new industry or functional exposure, informal leadership, a challenge or problem that “stretched” your skills and perspective. In describing goals, if they’ve changed from the previous application, note why.

Deadlines:
USC Marshall Deadine

 

 

 

 

Want more school specific MBA application essay tips? Click here!

 Cindy TokumitsuCindy Tokumitsu is the author and co-author of numerous ebooks, articles, and admissions guides, including Why MBA and Best MBA Programs: A Guide to Selecting the Right One. Cindy has advised hundreds of successful applicants in her fifteen years with Accepted.com.

Related Resources:

How to Get Accepted to Top B-Schools with Low Stats
4 Goals of an MBA Application
Why Do YOU Need an MBA?

What’s an MBA Really Worth?

Applying to top MBA programs? Download your free copy of Best MBA Programs: A Guide to Selecting the Right One

How much do MBAs really earn?

This is the question tackled in a recent Poets & Quants article in which John Byrne presents PayScale data provided exclusively for P&Q. In the analysis, PayScale calculates the estimated median pay and bonuses (not including stock-based compensation, retirement benefits, or non-cash benefits like healthcare) of graduates from the top 50 U.S. MBA programs from 2004 to 2014. Here are some of the highlights from the article:

Harvard, Stanford, and Wharton earn the most over a 20-year period (at $3,233,000, $3,011,000 and $2,989,000 respectively), with average income at the former nearly doubling the average income of graduates from Texas A&M’s Mays Business School (at $1,781,820.)

• Some schools “punched above their weight class” like Boston University, whose graduates earned an average of $2,329,000, making the school rank in 19th place on this list, while ranked overall (in the regular MBA full-time rankings) by P&Q in 40th.

• Another high roller from lower down on the list is UC-Irvine Merage, where MBAs earn $2,319,932 over 20 years, putting them in 21st place, though generally ranked in 47th.

• More food for thought: At HBS, the average age of graduation is 29 years old. Our 20-year payout here brings these MBAs up to 49 years old, giving them another 16 years until retirement at 65. Based on their 20-year earnings, they may earn another $3.2 million, which combined with their 20-year earnings, brings their total up to $6.5 million. (Remember, this is a conservative estimate as it doesn’t include stock and non-cash compensation.)

• Compare the above HBS figures to the $2.5 million estimated lifetime earnings (age 24 to 64) of people with a master’s degree (non-MBA). (Data from the U.S. Census Bureau.) Someone with an MBA from Harvard will earn nearly three times as much as someone with a master’s degree. And someone with an MBA from Texas A&M will still earn about $1 million more than the average MA/MS holder.

• More comparisons (based on U.S. Census Bureau data): The average high school graduate can expect to earn $1.2 million in a lifetime, compared to the $2.1 million of someone with a bachelor’s degree. PhDs earn $3.4 million on average during their working lifetime. Doctors and lawyers can expect lifetime earnings of about $4.4 million – still less than the lifetime earnings of MBAs from at least 28 business schools.

• According to PayScale data, graduates from BA programs earn a median $1,301,000 20 years post-graduation. All MBAs, on average, earned $1,771,000, with those in the top 50 earning a median $2,266,000. An MBA in general will earn you about half a million more than a BA; an MBA from a top 50 school will get you yet another half a million more.

Looking for admissions advice?
Source: PayScale for Poets&Quants

For MBA admissions tips, check out our MBA Admissions 101 Pages!
Source: Payscale Inc. for 20-year estimate, business schools reporting to U.S. News for 2013 starting pay and bonus.

Learn How to Choose the Best MBA Program for You!

Accepted.com: Helping You Write Your Best

Related Resources:

Best MBA Programs: A Guide to Selecting the Right One
• B-Schools with the Highest ROIs
• Which Graduate Schools Should You Apply To?

2014 Economist MBA Rankings

2014 Economist Full-Time Global MBA Rankings:Download your free copy of MBA Rankings: What You Need to Know

1. Chicago Booth (U.S.)

2. Dartmouth Tuck (U.S.)

3. UVA Darden (U.S.)

4. HEC Paris (France)

5. IESE Business School (Spain)

6. Harvard Business School (U.S.)

7. UC Berkeley Haas (U.S.)

8. NYU Stern (U.S.)

9. Stanford GSB (U.S.)

10. Columbia Business School (U.S.)

11. UPenn Wharton (U.S.)

12. MIT Sloan (U.S.)

13. UCLA Anderson (U.S.)

14. Northwestern Kellogg (U.S.)

15. London Business School (U.K.)

16. University of Queensland Business School (Australia)

17. Emory Goizueta (U.S.)

18. INSEAD (France)

19. Yale SOM (U.S.)

20. Michigan Ross (U.S.)

Top 10 B-Schools with the Highest GMAT Scores:

table

Top 10 MBA Programs for “Potential to Network”:

1. HEC Paris (France)

2. Vlerick Leuven Gent Management School (Belgium)

3. Thunderbird School for Global Management (U.S.)

4. NYU Stern (U.S.)

5. UC Berkeley Haas (U.S.)

6. Notre Dame Mendoza (U.S.)

7. Warwick Business School (U.K.)

8. USC Marshall (U.S.)

9. Melbourne Business School (Australia)

10. UVA Darden (U.S.)

A Poets & Quants article on the rankings states that at least 17 business schools declined to participate in this year’s rankings, many claiming that The Economist’s methodology is faulty. Some of these schools include Babson Olin, Toronto Rotman, Sauder School (British Columbia), Minnesota Carlson, McGill Desautels, Purdue Krannert, and, University of Manchester (U.K.), Imperial College Business School (U.K.), University of Illinois at Urbana-Champaign.

Regarding methodology, 80% of the data used for the rankings is derived from surveys provided by the schools themselves. The remaining 20% of information comes from current students and recent grads.

John Byrne notes that since The Economist rankings launched in 2002, Harvard, Stanford, and Wharton have never topped the charts. This year, the schools rank at 6th, 9th, and 11th place, respectively. In 2005, Harvard and Wharton weren’t included in the rankings as they declined to contribute data. (That year, those two programs also declined to participate with the Businessweek rankings.)

Matt Symonds, who wrote a critique of the rankings, “Leave no MBA ranking unquestioned,” provides these additional points:

• Booth took the #1 spot for the third year in a row, and the fifth time in the last eight years.

• There are only six European schools in the top 25; in 2008, there were 11. This year, Cambridge Judge and Oxford Saïd both dropped 15 places, to 52nd and 69th place respectively.

• The breakdown of the criteria used to rank the schools goes as follows: personal development/education experience (35%), open new career opportunities (35%), increase salary (20%), and potential to network (10%).

• This year, more than 20 schools rose or fell by double-digits (and thus the rankings have been criticized for their volatility).

• Big droppers include University of Bath School of Management which fell 23 spots from its previous 20th place; York Schulich fell to 41st place from 22nd last year.

• Big jumpers include Kellogg and Yale which both jumped 9 places up to 14th and 19th place respectively; Rochester Simon and Temple Fox both jumped 20 places to 58th and 57th place respectively.

Are You Misusing the B-School Rankings?

Accepted.com: Helping You Write Your Best

Related Resources:

• MBA Rankings: Why Should I Care?
MBA Rankings: What You Need to Know
• Top 10 B-Schools with the Most Satisfied Graduates

Consulting at Top MBA Programs

MBA In Sight: Focus on Management Consulting - Click here to download your copy!Entrepreneurship is the sexy post-MBA job, but the reality is that less than 5% of grads from top MBA programs start a business at graduation. Per GMAC’s just released Prospective Students Survey Report, 34% of all graduate business students seek consulting positions after they earn their degree. My suspicion is that the figure is even higher among full-time MBA candidates. True, many will work as consultants for a few years, and then down the road start their own business.

If you are in that vast mass of MBA wannabes planning/hoping for a job in consulting immediately after you earn your degree, this ranking is for you! We’ve examined US Newstop MBA programs and the number of grads who have gone into consulting from each one. (The data here is from U.S. News.)

Schools Ranked by Percentage of Grads Going into Consulting

Schools Ranked by Number of Grads Going into Consulting

The biggest surprise is how low Stanford places on these lists. I would attribute that low ranking to the relatively high percentage of MBAs going into entrepreneurship (approximately 18%, the highest of any of these programs by far.).  Yale’s placement as #1 in percentage as well as Duke Fuqua’s, CMU Tepper’s and Emory’s as respectively #2,#6 and #8 on the percentage list also indicate real strength in consulting placement, which sometimes isn’t recognized.

Similarly Wharton’s #1 placement and Chicago Booth’s #4 spot in total numbers call into question the meme that these two programs are “just” finance powerhouses.

Certainly a high ranking in either of these lists indicates that the program has the recruiting ties, placement track record, and alumni network, as well as the curriculum, to support your consulting goals.  However, these numbers don’t tell the full picture. Dig into the schools’ class profile, placement stats, curriculum, extra-curricular activities and opportunities to determine which schools to apply to.

Ultimately you want to apply to programs that will take you where you want to go and that are likely to admit you.

Click here to download your free copy of Focus on Management Consulting

Linda Abraham By , president and founder of Accepted.com and co-author of the new, definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.

FT’s Best Global MBA Programs in 2014

The Financial Times released its 2014 global MBA rankings! Read on for the list, the facts, the analysis, and the sources.

The List:

2014 Rank

3 Year
(Avg) 

School Country 
1 1 Harvard Business School USA
2 2 Stanford Graduate
School of Business
USA
3 4 London Business School UK
4 3 U Penn Wharton USA
5 5 Columbia Business
School
USA
6 6 INSEAD France/Singapore
7 8 IESE Business School Spain
8 8 MIT Sloan USA
9 10 Chicago Booth USA
10 15 Yale School of Management USA
11 12 UC Berkeley Haas USA
12 15 IMD Switzerland
13 11 IE Business School Spain
14 11 Hong Kong UST
Business School
China
15 15 Northwestern Kellogg USA
16 19 Cambridge Judge UK
17 17 Duke Fuqua USA
17 18 NYU Stern USA
17 19 CEIBS China
20 18 Dartmouth Tuck USA

To truly understand the rankings, much less use them, please see the methodology so you’ll know what’s being ranked. While there are twenty factors considered in the FT rankings, the FT methodology puts the most weight on increase in salary in $US PPP (Purchasing Power Parity) and weighted salary in $US PPP.

Poets and Quants criticizes the FT rankings for absurd results in calculating “Value for Money” as well as for having too many criteria and several criteria that really don’t reflect the quality of education. Others say that it is biased against U.S. programs.

Regardless of the criticism’s validity, the FT ranking is arguably the most cited ranking of global programs because it compares U.S. and international programs in one ranking and seems to do a better job of it than the alternatives. That prominence doesn’t mean these rankings are Gospel. It does mean you have a lot of data in a format where you can easily compare MBA programs from around the world on designated criteria.

The Facts:

Here are some fun facts about FT’s 2014 rankings:

• 7 of the top 10 and 12 of the top 20 programs ranked are US schools.

• Big jumpers this year include Boston University’s business school and Washington Forster, which each jumped 20 spots, to 75th and 58th place, respectively. Another big US jumper this year was USC Marshall which jumped 17 spots to 65th place. UNC Kenan Flagler jumped up 12 slots this year from its 3-year average rank, moving from #45 to #33.

• The biggest losers this year include Dublin’s Smurfit School (dropped 27 spots to 91st place) and Vlerick Business School (fell 16 places to 100th place), as well as the schools which disappeared off the list entirely: U of Iowa’s Tippie School (74th last year), Korea University Business School (86th last year), Incae Business School in Costa Rica (90th last year), Case Western’s Weatherhead School (94th last year), and others.

• Newcomers to the list include: UC Davis (98th), Wake Forest (94th), BYU’s Marriott School (93rd), and ESMT European School of Management and Technology in Germany (89th).

• In terms of geographic representation, the top 20 schools are all in the US, UK, Europe (France, Spain, Switzerland), China, and Singapore, but further down the list, other countries gain their spots: India comes in at 30th place with the Indian Institute of Management in Ahmedabad; SDA Bocconi in 31st place represents Italy; South Korea appears in 45th place with Sungkyunkwan University’s GSB; Canada’s first school on the list is Toronto Rotman at 51st place; Portugal follows with The Lisbon MBA in 52nd place (new to list); South Africa’s U. of Cape Town GSB comes in at 59th place; in the 62nd slot we have Australia’s Australian Graduate School of Management; and Brazil’s Coppead is in 79th place.

•  The city with the highest concentration of schools in the top 100 is (of course) Boston with six top b-schools – Harvard (1), MIT Sloan (8), Hult International Business School (61), BU School of Management (75), Boston College Carroll (82), and Babson Olin (95).

The Analysis:

While it’s fun to look at the changes – who climbed and who sank – for me the real lessons from this ranking are:

1. The top programs move and change very slowly. That lack of drama in these rankings is a better reflection of reality than the gyrations one sees outside the top twenty. Significant change takes time so sharp jumps and dives probably mean nothing. Sustained change in ranking has greater credibility – if you value the same qualities as the FT.

2. The one point made repeatedly in the commentary on this ranking, and it is the same conclusion I draw from both the FT ranking and the Forbes ranking, which both emphasize ROI and increase in salary, is this: The MBA education at top programs provides a solid return on investment for most students. The MBAs surveyed for the FT rankings started their MBA in 2008, just as the Great Recession hit, and graduated in 2010. These MBAs still report on average a 100% increase in salary over what they were making before they started business school.

There are obviously critics of graduate business education, specifically the MBA, and those detractors either believe an MBA isn’t valuable or that the value has declined. I agree with the latter group. However, the questions for today’s applicants are:

1. “Given my current professional background and salary and my anticipated salary after I earn an MBA, do the anticipated financial rewards plus increased job satisfaction justify the investment (both out of pocket and opportunity costs)?” The fact that those entering b-school ten or twenty years ago could anticipate a higher ROI is irrelevant. It is merely a historical curiosity and for you an unfortunate one.

2. “Is the full-time MBA – or whatever flavor you are considering – the optimal way for me to attain my MBA goals?”

FT, to its credit, also has an article on those claiming the MBA is not worth the effort. Sometimes they are right. Each one of you individually needs to examine your circumstances and goals to see if for you the MBA is an expensive waste of time and effort, or if for you it is likely to be worth both. Clearly, most of the people surveyed by Forbes, the Financial Times, and GMAC are in the latter group.

In this video  Della Bradshaw, FT’s Business Education Editor, discusses the results of this year’s FT Global MBA rankings including the finding that MBAs in the class of 2010 are now enjoying salaries double those they were earning before they entered b-school.

The Sources

• FT Global MBA Ranking 2014

•  FT: MBA Ranking 2014: Key & Methodology

•  FT: Big Names Dominate FT MBA Ranking Top Spots

•  P&Q: Winners & Losers in 2014 FT MBA Ranking

•  Accepted: 4 Ways You Should NOT Use the MBA Rankings

•  Accepted: MBA Rankings: What You Need to Know

Learn how to evaluate your profile to determine the best business school for you!

Linda Abraham By , president and founder of Accepted.com and co-author of the new, definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.