Wharton’s Dean Robertson Announces End of Deanship

Wharton

Wharton was ranked No. 3 by Bloomberg Businessweek in 2012

Last week Wharton’s dean, Thomas S. Robertson, announced that he’d be stepping down from his post at the end of June 2014. Robertson has been dean of Wharton since August 2007 and saw the top b-school through the Bear, Stears & Co. collapse and the subsequent job market crash. He also revived the school following the departure of the previous dean.

Upon stepping down, Dean Robertson plans on remaining at Wharton in a marketing teaching position and pursuing his research interests.

In a Businessweek article on Dean Robertson’s announcement, he’s quoted as saying: “I feel I’ve accomplished much of what I wanted to do. It’s time to reinvent myself.”

The article continues to recount his many successes at Wharton:

In his time at Wharton, he has increased the size of the faculty by about 10 percent, to 478, and improved student quality….In addition, he helped raise $607 million, overshooting the original $550 million goal. A new MBA curriculum, introduced in the past year, and a new branding campaign are among the highlights of his tenure….Wharton was ranked No. 3 by Bloomberg Businessweek in 2012.

For more about Dean Robertson, also see the P&Q article, “Wharton Dean To Step Down in 2014.”











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Four Tips for the Wharton Interview

Wharton We’ve offered advice on the Wharton team-based discussion a few times (like here and here), but it seems like applicants are still struggling to wrap their heads around this interview experience.

Here I will reinforce some key points, as well as let you know about our mock Wharton interview for both the individual and team based interview (see tip #4).

1. Don’t underestimate your one-minute intro!

Prepare a statement for each of Wharton’s three prompts so that when the timer starts, you’re prepared to deliver a 60-second into confidently and smoothly. Most round 1 & 2 participants reported that the facilitators WILL stop you when you hit the 60-second mark of your pitch, so practice with a stopwatch!

2. Bring a few notes, but don’t bring a 300-page treatise!

You don’t want to be shuffling through notes (even paperless notes on a tablet) while you should be paying attention to the comments of your co-interviewees. The same thing goes for furiously scribbling notes during the interview – keep this to a minimum! Remember, this is a group discussion, not a chance for you to read your monologue from a stack of papers!

3. Put the team’s success first and you will come out a winner.

Those who put the success of their team above that of their own proposal will score in the mock TBD. It’s a team exercise; not an airtime contest. Be prepared to encourage teammates, be flexible, and take respectful initiative when you have something to contribute.

4. Practice makes perfect – by yourself and as a group!

The best way to prepare for the Wharton team-based discussion is by sampling the experience for yourself. Accepted ran several mock interviews (with excellent participant feedback), and is gearing up for its next round soon. Make sure you’re a part of this essential interview prep! See details and register here: mock interviews for Wharton’s group and individual discussions.

We asked participants in previous mock Wharton TBDs what they found most valuable about the exercise. Here is a sampling of their responses:

• “The opportunity to practice discussing the interview topic with other skilled and motivated candidates. I believe after participating in one of these groups, the candidates are much more prepared for the real interview.”

• “The most valuable aspect was to be able to know how the team discussion would go and also experience a really close simulation to it. So I felt much better prepared.”

• “Finding out how the interview is run and seeing it in action. I believe I will be more confident going to the interview.”

When asked if they felt better prepared because they participated in the mock Wharton TBD, 100% said “yes.”








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UPenn JD/MBA Interview with Craig Carter

Craig CarterHere’s a talk with Craig Carter, JD/MBA candidate at UPenn’s Law School and Wharton Business School, who plans on using his dual degree to create change in the public education system. Thank you Craig 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 please tell us a little about yourself: Where are you from? Where and what did you study as an undergrad? 

Craig: I was born in Brooklyn, NY, but I grew up in Baltimore, MD. I studied Industrial Engineering at Northwestern University.

Accepted: Penn’s combined JD/MBA degree program is a three-year program. Can you break it down for us? When do you do what? 

Craig: Sure, the University of Pennsylvania has developed the premier accelerated JD/MBA program, providing a comprehensive education from two leading schools: Penn Law School and the Wharton School.

In your first year, you go through the complete first-year law curriculum. During the summer between year one and year two, you have a mini-semester of law school, inclusive of three classes, and a mini-semester of business school, inclusive of two classes. In year two, you go through the complete first-year business school curriculum and take one additional law school class each semester. The second summer is reserved for an internship. In the third year, JD/MBA students split the year between the law and business schools. Typically, students take three classes at Wharton and two classes at the Law School first semester, then do the reverse second semester.

Accepted: So how’s the law school component going so far? Is it as you had imagined it? Any surprises?

Craig: Law school is going surprisingly well! I expected to not enjoy it and just survive until the business school component of the program. However, the material is very interesting, the challenge is exciting, and the people are wonderful! I was surprised by the level of collegiality and cooperation among the students. Penn Law is known to be the most collegial Law School of the top tier institutions, but that reputation is an understatement. As a Penn Law student, you do not feel the high-level of competition that you experience at other institutions. Instead, you are overwhelmed by the family atmosphere that pervades the students, staff, and faculty.

Accepted: What past experiences (work or otherwise) have you had that motivated you go head back to school and pursue this rigorous dual degree?

Craig: Prior to returning to school, I worked two years as a management consultant for Oliver Wyman, and then served for three years as Chief Financial Officer for Urban Prep Academies, a non-profit that operates three Charter Schools for Boys in Chicago.

My experience at Oliver Wyman helped develop my business acumen and desire to hone my “CEO’s toolkit” through a comprehensive management education. My experience at Urban Prep helped give me a profound understanding of the structural inequities in public education. My passion for education and the African American community has led me to obtain legal training in hopes of leading our country’s overhaul of urban education.

Accepted: What do you plan on doing once you receive your JD and MBA?

Craig: In the short-term, I would like to pursue a career in Investment Banking or Private Equity. Long-term, my desire is to leverage the resources, relationships, and experiences acquired at Penn and during a successful professional career to become a public servant who leads legislative initiatives to structurally change public education.

Accepted: Did you consider any other programs? Which ones? 

Craig: I considered the accelerated programs at Northwestern and Yale, and the four-year programs at Harvard and Stanford.

Accepted: Why was Wharton’s program the best place for you?

Craig: Penn’s interdisciplinary curricular focus with an emphasis on experiential learning and leadership development was the best opportunity for me to develop in professional school. Wharton’s preeminent finance education and Penn Law’s cross-disciplinary approach to legal education created an unmatched combination of business and law school. I feel that my peers and I will be invaluably prepared to impact this world and attack some of our country’s most perplexing problems.

Accepted: Can you offer some advice to our applicants who are considering applying to a JD/MBA program?

Craig: All the typical advice applies – do well on standardized tests, write good essays, and get quality recommendations from people who know you well. Some more nuanced advice is create and develop a brand early. Decide who you are/want to be and pursue experiences that will enhance or augment that brand. These experiences will not always be a higher rung on the ladder, but in the end will help create a unique value proposition for professional schools and future employers.

For one-on-one guidance on the UPenn application, please see our Wharton School of Business School Packages. For specific advice on how to create the best application for UPenn, see Wharton 2013 MBA Application Questions, Deadlines, Tips.















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Does Interview Prep Make You Phony?

Wharton 8I was thrilled Thursday to be quoted in The Wall Street Journal’s “Frankly, Wharton Wants Candor,” which focused on Wharton’s Team Based Discussion (TBD) and Harvard’s interview reflections. I disagree, however, with disingenuous arguments in the article that applicants who seek to prepare beyond a school’s recommendation are intrinsically less than genuine.

I sat in on several of Accepted’s mock team-based discussions and was impressed with the evaluative power of the TBD. It is a great tool for discerning differences in interpersonal and communications skills.

I was also pleased with the feedback that we received from our mock TBD participants: 100% of those who provided feedback felt the mock interview to be a valuable practice. A dress rehearsal really. And professionals rehearse.

You can ad-lib a lie, prepare facts.

It is fallacious to think that practice leads to a lack of authenticity. You can ad-lib a lie and prepare facts. Winging it and honesty don’t correlate. In fact, one has nothing to do with the other.

However, practice and preparation do correlate with achievement. They contributed to bringing applicants to the point where schools like HBS and Wharton invite them to interview.

Should students not study or practice so they can be candidly ignorant when asked to give a class presentation? Take a test? Should they wear jeans and t-shirts so they can be more “authentic”?

Would Wharton or Harvard want their students to ad-lib and improvise for job interviews? Would they advise applicants to go to a job interview for, let’s say McKinsey or Goldman, and just “relax, be genuine,” and “enjoy the opportunity for [the prospective employer] to get to know you?”

Yeah, right.

And what about employers? Why aren’t they upset when MBAs, with the schools’ support and urging, spend hours prepping for interviews? As Accepted’s Todd King, author of Handling Wharton’s Team-Based Discussion, notes in an internal discussion:

“So, what do consulting and banking firms do in their hiring that allows them to bring on great people without complaining about ‘over-prepared’ recruits?  … they knew good and well that every candidate had thoroughly reviewed and practiced whatever big case-study book had been compiled by the school’s management consulting club.  Those firms found good people – and they didn’t complain about those people being extremely prepared; they expected it.”

Those elite firms want it. They seek employees who come to interviews practiced and prepared. They want employees who will check and double check their work. And they certainly demand that employees train and rehearse for roadshows and client presentations.

The ease of writing an email or carrying on a discussion isn’t the issue. Candor and honesty aren’t the question.

Applicants prepare, practice, and rehearse because they perceive the benefits of getting into a school like HBS or Wharton to be worth the effort and worth the $500 for Accepted’s Wharton Premium Interview Preparation. (This fee provides both a mock team and personal interview as well as written feedback and an individual post-interview consultation.)

Confusing winging it and wisdom

Perhaps, just maybe, as a result of the information freely given away by admissions consultants and applicants, as well as yes the increasing numbers of applicants seeking paid advising, admissions committees have a harder time differentiating between applicants. (See Looking Back on the Shrinking MBA Application)

Frankly, something is amiss when a business school confuses non-preparation and honesty, winging it and wisdom. Is that something a lack of candor on the school’s part?

___________

(Please see a Wharton Follies video, The Evolution of an MBA for a student perspective. It predates this discussion, but it’s funnier and relevant. Do you think they rehearsed?)



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.

2014 U.S. News MBA Rankings


U.S. News
published their 2014 best business schools rankings, and we’re here to provide you with the scoop! Below are the rankings and then some additional links for your reference.

Top 20 U.S. Business Schools (Full-Time)

MBA Rankings: What You Need to Know1. Harvard Business School
2. Stanford Graduate School of Business
3. UPenn Wharton
4. MIT Sloan
4. Northwestern Kellogg
6. Chicago Booth
7. UC Berkeley
8. Columbia Business School
9. Dartmouth Tuck
10. NYU Stern
11. Duke Fuqua
12. UVA Darden
13. Yale School of Management
14. UCLA Anderson
14. Michigan Ross
16. Cornell Johnson
17. Texas McCombs
18. Emory Goizueta
19. CMU Tepper
20. UNC Kenan-Flagler

Top 10 Part-Time MBA Programs

1. UC Berkeley Haas
2. Chicago Booth
3. Northwestern Kellogg
4. NYU Stern
5. UCLA Anderson
6. Michigan Ross
7. Texas McCombs
8. Ohio State Fisher
9. CMU Tepper
9. Indiana Kelley

Top 10 Executive MBA Programs

1. UPenn Wharton
2. Chicago Booth
3. Northwestern Kellogg
4. Columbia Business School
4. Duke Fuqua
6. NYU Stern
7. UCLA Anderson
8. Michigan Ross
9. UNC Kenan-Flagler
10. UC Berkeley Haas

Links for more info:

About the Rankings Methodologies (U.S. News)
In Photos: Best B-Schools (U.S. News)
MBA Programs Evolve to Meet Student Needs (U.S. News)
Best MBA Programs: A Guide to Selecting the Right One (Accepted.com special report)
MBA Rankings: What You Need to Know (Accepted.com special report)




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Study Shows that WHEN You Interview Matters

Interview Tips

When You Interview, Matters

New Wharton research shows that interviewees need not only compete against the crowded field of candidates in general, but against those specific candidates who are interviewing on the same day as they are.

The study measures the success of applicants who interviewed at the end of the day, rather than early on in the interviewer’s schedule. The results show that a qualified candidate who would have scored high earlier in the day, ended up scoring lower if interviewed at the end of the day. This low scoring, however, resulted only if our highly qualified candidate followed other highly qualified candidates. If our end-of-the-day highly qualified candidate interviewed late in the day following a series of WEAK candidates, then his end-of-the-day timing would work with him to increase his interview score.

The theory behind the data here is that if an interviewer goes into the day knowing that he will probably accept or score highly 50% of his interviewees (for example), and if by the end of the day he’s already reached his quota of “good interviews, then even if our highly qualified candidate does extremely well, the interviewer will be less likely to accept him.

According to Uri Simonsohn, Wharton operations and information management professor, “The effect very well could be an unconscious one,” or “it could be very conscious. It could be an agency thing. It could be you don’t want your supervisors to think you’re doing a bad job when they see a bunch of [candidates rated as] fives in a row.”

The flipside of all of this is that a weak candidate who interviews later in the day, really lowers his chances of scoring high during the interview.

See “Why Being the Last Interview of the Day Could Crush Your Chances” for more information.

Takeaways

Obviously, you don’t know the strength of the candidates scheduled to interview on any given day. Therefore, you don’t know whether you are better off scheduling in the morning or late afternoon.

I asked a few of Accepted’s former admissions directors about the study, and they were skeptical of this data, and they disagreed with any conclusion that interviewing in the morning is an advantage.

I have always wondered or perhaps assumed that there are certain random factors no one can control in this highly subjective application evaluation process. What if the reader has a fight with his or her significant other that morning? Or conversely if something wonderful happens just before the reader opens your file?

The irrational, random aspects of the evaluation process can contribute to what outsiders see as anomalous results: applicants rejected at less selective programs and admitted to more selective programs; or less “qualified” competition accepted at your favorite program when you are “more qualified” and your answer is a sympathetic but definitive denial.

Perhaps the real takeaway from this study is not when you should interview, but a reminder that the MBA application process is a subjective process imperfectly evaluating your application, not you. It is not an authoritative analysis of your worth as a human being; it isn’t even an omen of professional triumph or a sign of success in the business world.

The study also serves as a reminder, given the subjective and even capricious elements in the application process, that applying to one highly selective school runs a high risk of rejection. Unless you really can’t leave the city where this school is located, apply to several schools that meet your needs.


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New Wharton Interview Prep Service

Wharton Interview Prep

Wharton

Due to frequent requests, Accepted.com is adding a new interview prep service to its always-growing menu of business school admissions consulting services. The new package, Wharton Premium Interview Preparation, is available to Wharton applicant interviewees and helps them prepare for the new team interviews, as well as the traditional individual interviews.

The Wharton Premium Interview Preparation package provides:

  • One Wharton team interview simulation with 3-7 other Wharton applicants and two Accepted consultants/facilitators. (There will initially be three simulation dates to choose from.)
  • One mock one-on-one interview.
  • Professional written feedback on the client’s performance during the simulation and the individual mock interview.
  • One phone consultation to discuss feedback on both team and one-on-one interviews.

Linda Abraham, CEO and founder of Accepted.com, talks about the company’s new addition: “We decided to offer this service because recently we have been bombarded with questions about the Wharton interview and requests for specific coaching for the top b-school’s unique interview procedure. We’ve already coached applicants for the Wharton team interviews and have also offered the simulation to clients.”

Accepted surveyed the applicants who participated in the team simulation — 100% felt better prepared. When asked what they found “most valuable” in the mock team interview, this response was typical “The opportunity to practice discussing the interview topic with other skilled and motivated candidates. I believe after participating in one of these groups, the candidates are much more prepared for the real interview.”

Team interview simulations will be held starting the last week of February. Applicants are encouraged to purchase the Wharton Premium Interview Package as soon as possible to secure a spot on one of the interview teams.





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Tips for Tackling Team Interviews

MBA Interview

“Take a stand and support your position.”

With the emerging trend of group interviews at schools like Wharton, applicants need to understand that team interviews require a different set of skills than individual interviews.  I liken individual interviews to blind dating.  With individual interviews and blind dating, both parties are trying to figure out if they want to spend more time together. Personality, passion and concise, yet interesting stories will pique the interest of the admissions committee.   Group interviews and activities reflect the skills you will learn in an MBA case class (example of HBS case classroom).  You will be asked to take a stand and support your position.

Prior to a team/case-based interview I recommend:

  • Review the materials the school offered you prior to the interview.
  • Read Marc Consentino’s Case in Point and use the material in the book to help you build frameworks that support your theory.
  • Use friends, family and colleagues as well as our consultants at Accepted.com to role-play with you.

During the interview I recommend that you:

  • Participate.
  • Support your point.
  • Build on other applicants’ ideas if they support your theory.
  • Use evidence to refute (without being confrontational) other applicants’ points if they don’t support your point.
  • Don’t take over the conversation, but engage others and persuade them toward your opinion.
  • Base your comments on your expertise. (“When I was working at XYZ company, we had a similar situation…)

Both types of interviews measure skills that are equally necessary to achieve success at school.  Team interviews require critical thinking, listening, persuasion, and leadership.   Personal interviews require one-on-one presentation and interpersonal skills as well as self-awareness.

Please don’t hesitate to contact me at natalie@accepted.com with any questions you have regarding interview preparation.





Natalie Grinblatt EpsteinBy Natalie Grinblatt Epstein, an accomplished Accepted.com consultant/editor (since 2008) and entrepreneur. Natalie is a former MBA Admissions Dean and Director at Ross, Johnson, and Carey.

 

Financial Times’ 2013 Global MBA Rankings

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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Admissions Trends to Watch in 2013

2013 Trends

Trends for 2013

2012 has been an exciting year. Experimentation in applications including interviews and essays has marked the most recent admissions cycle. In addition, the recession, growing concern about rising tuition and student debt, and the promise of MOOCs is shaking the world of higher education.  But let’s leave the 35,000 foot view of last year and gaze into the crystal ball for next year.

Trends for 2013

  1. Increased use of MMI in medical school admissions will continue.
  2. For law school, an increasingly practical approach to legal education with more opportunities for externships, internships, and coursework related to legal practice.
  3. More new one-year specialized masters programs like UM’s Masters in Entrepreneurship or Rochester Simon’s menu of one-year specialized masters programs as well more accelerated MBA programs or expansion of existing ones, like those at Kellogg, Columbia, and Cornell. These shorter programs, as well as part-time programs and one-year programs abroad, will present increasing competition to the traditional full-time, two-year U.S. MBA programs.
  4. More experimentation with the MBA interview.  I predict more group interviews, as was introduced by INSEAD and Wharton in the last two years. I also predict continued experimentation with essays and attempts to find alternatives to essays, probably using media other than the written word.
  5. Continued growth of Asian MBA programs as continuing economic contraction in Europe, increasingly restrictive visa policies there, and the relatively strong Asian economy encourage Asian business schools’ growth and competitiveness.

How did I do in 2012?

So that’s what I foresee for this year, but how did last year’s predictions stack up?  How cloudy was my crystal ball. Well I predicted:

  1. Interview experimentation, specifically more use of team interviews for business school. On the money!  :-D
  2. “The trend towards more openness with data (in law school admissions) will spill over to MBA programs.” Not sure here. I think so, but can’t point to anything specific.
  3. “Expect more focus on realistic, well-reasoned goals in all areas of graduate admissions.” Again, I think this is true, but I can’t point to any specific evidence. Jan. 3 2013 News Flash (Edit): I now have some evidence. Today’s Wall Street Journal article M.B.A. Pop Quiz: Are You Employable? reports on increasing number of business schools that are have career services weigh in on admissions decisions.
  4. Increased Flexibility in B-School Curricula.” I expected more schools to move toward the Chicago Booth, UCLA and Wharton models where general requirements can be taken later in one’s b-school career.  Frankly, I haven’t seen this development.

And what did I miss entirely? The shrinking of the MBA application. There have been fewer essays almost across the board.

So my crystal ball definitely had some inaccurate refraction last year. Let’s see how I do in 2013.

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.



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