U.S. News 2016 Best Graduate Business Schools

U.S. News released its graduate school rankings today. Let’s see how our top b-schools fared…

Top 20 U.S. B-Schools – 2016

Visit our b-school zone page for info on the top business schools.1. Stanford GSB (1)
2. Harvard Business School (1)
3. UPenn Wharton (1)
4. Chicago Booth (4)
5. MIT Sloan (5)
6. Northwestern Kellogg (6)
7. UC Berkeley Haas (7)
8. Columbia Business School (8)
9. Dartmouth Tuck (9)
10. UVA Darden (11)
11. NYU Stern (10)
11. Michigan Ross (11)
13. Duke Fuqua (14)
13. Yale SOM (13)
15. UCLA Anderson (16)
16. Cornell Johnson (17)
17. Texas McCombs (15)
18. UNC Kenan-Flagler (19)
19. Washington Olin (22)
20. CMU Tepper (18)

25% of US News rankings is made up of survey responses from business school deans and directors; 15% is based on recruiters’ survey responses. The remaining 60% is based on statistical data reflecting program selectivity and placement success. (For details, read up on U.S. News methodology.)

Here are some highlights from the Poets & Quants article on the rankings:

• Last year’s three-way Stanford/Harvard/Wharton tie was broken this year with each school taking one of the first three spots (Stanford in first, HBS in second, and Wharton in third).

• The P&Q article states that Wharton’s slip to third is due to lower peer assessment and corporate recruiter survey scores.

• Wharton also reported an acceptance rate of 20.7%, up from last year’s 18.7% — this is another metric used by U.S. News in their methodology.

• Another factor contributing to Wharton’s position this year is its position regarding salary and bonus. Last year it took top slot at $141,243, while this year it slipped to fourth place at $142,574 – yes, higher than last year, but this year, Harvard, MIT, and Stanford reported even higher salaries/bonuses (HBS took the cake at $144,936 this year).

• Stanford’s top stats this year: average GMAT – 732; average GPA – 3.74; acceptance rate – 7.1%.

• In the top 20, there weren’t significant changes beyond a given school moving up or down a couple places. But further down in the rankings there were some big shifts. Texas A&M jumped 10 places to 27th place (tied with Carlson); Wake Forest jumped 13 places to 45th place; and Louisville moved up at least 31 places to 71st place – it was previously unranked.

• Big drops include Missouri Trulsake which fell 21 places from 58th to 79th place; Pepperdine Graziadio which fell at least 25 places, from last year’s 76th place to its unranked position this year.

Wondering how much rankings should play a roll in determining where you apply? Watch the video below for Linda Abraham’s answer:

Are You Misusing the B-School Rankings?

Accepted: The Premier Admissions Cosultancy

Related Resources:

• Financial Times Global MBA Rankings 2015
• What’s an MBA Really Worth?
• PayScale: How Much Can You Earn, and How to Earn It?

How to Ace Your Team Based Interview [4 Tips for the Big Day]

Learn more about Team Based Interviews!

The key to a good TBD is balancing what to say, how much to say and when to say it.

Last week we shared our tips for preparing for Team Based Interviews. Today we’re going to move forward and offer 4 tips for acing the interview itself:

1. Don’t be confrontational. This is not a debate in which you’re trying to score points. It’s not Crossfire. It’s not a verbal battle. It’s a simulation of what you may encounter in a b-school classroom or group project, and so it’s that vibe and model that you’ll want to emulate. Interviewees should build on one another’s points, contributing to the conversation; they shouldn’t cut each other down with rude or judgmental remarks. Of course you’re allowed to disagree, and you should be persuasive and enthusiastic about your positions, but do so with respect and grace.

2. Think quality, not quantity. Participants are judged on the quality – and not the quantity – of their comments. You should add to the conversation, but certainly not dominate it. Refrain from speaking for the sake of being heard. Thoughtful and succinct comments are appreciated; chatter is not.

Don’t let this tip backfire on you! Qualitative comments are a must, so don’t hold back from speaking because you’re worried that your contributions won’t hit the mark. You need to find a balance – don’t blab on incessantly, but don’t be too shy to open your mouth either. You’re there to contribute; make sure you do!

3. Keep it real. While many of the topics or prompts given may lead you to a world of theoretical thought, you need to work to push through the theory to arrive at concrete points that are supported with evidence from your own firsthand experiences. Business schools are interested in students who have paid attention to their life stories and who are able to draw deep understanding and practical results from them.

4. Keep notes to a minimum. Just as a treatise of pre-interview notes will distract you from the interview action (as we mentioned in last week’s article), so will scribbling notes furiously during the interview. You definitely want to have a pen and clipboard or a tablet available if you need to quickly jot something down, but remember – this is a group discussion and you want to keep the flow of the conversation natural. Taking notes and then reading your monologue will certainly disrupt that flow.

Good luck!

Have a TBD Coming Up? Practice with the pros before your big day! CLICK HERE TO REGISTER FOR A MOCK WHARTON TBD!
Accepted: The Premier Admissions Cosultancy
Related Resources:

• Get Ready, Get Set, and ACE that Team Interview Challenge!
• Four Tips for the Wharton Interview
Wharton B-Scool Zone

4 Tips for Team Interviews

Click here for more TBD tips

Win an Academy Award for your interview performance

Since so much of b-school life and learning includes team discussions, the adcom needed a tool for assessing how applicants will fit in the team-based discussion culture of their programs. Thus, the Team-Based Discussion (TBD) was born.

In team-based interviews, applicants need to use a different set of skills than they use during traditional, individual interviews. Personal interviews require one-on-one presentation, interpersonal skills, and self-awareness, while team interviews require critical thinking, listening, persuasion, and leadership.

Here are four to-do’s to help you win an Academy Award for your performance in an interview:

1. Review school material. This includes the specific materials that the school provides prior to the interview, as well as all other material about the program. As with an individual interview, you need to know the school well – its mission, curriculum, teaching style, etc. Review the school’s website and speak with current students and recent grads so you get a clear picture of what it’s like to be a student at B-School X.

2. Read Case in Point. This is an excellent book by Marc Consentino that will teach you how to state your position during team-based interviews, and then clearly and succinctly support your position.

3. Role-play. Use family, friends, colleagues, and consultants at Accepted.com to role-play with you. The more in-the-know your mock interviewer and peers are, the better idea you’ll get of how the interview will run on the big day.

4. Take notes. You are allowed to bring notes to the interview, and while you don’t want to read off a piece of paper or even refer to it frequently, it may help you feel more confident knowing that some of your key points are written down in case you need them. You never know how performance anxiety may set in, and if your brain freezes and you completely forget your plan, you’ll be glad you jotted some ideas down beforehand.

TIP: Don’t bring a 400-page stack of papers! You don’t want to spend the whole time shuffling through your notes, making noise and ignoring your co-interviewees while they speak. Paperless notes on a tablet may reduce the shuffle, but they won’t reduce the distraction – keep paperless notes to a minimum as well.

Coming up next: 4 Tips for the Interview Itself  

Have a TBD Coming Up? Practice with the pros before your big day! CLICK HERE TO REGISTER FOR A MOCK WHARTON TBD!
Accepted: The Premier Admissions Cosultancy
Related Resources:

How to Ace Your MBA Interviews
7 Tips for MBA Interview Prep
The 10 Commandments of MBA Interviews

Are Schools Reducing Their Number of Admissions Essays?

Applying to Stanford GSB? Check out our Stanford application essay tips!

Is Stanford a trendsetter?

Elite schools like Yale, Wharton, and Stanford looked like they were starting a trend in cutting the number of required admissions essays for applicants, but according to Kaplan Test Prep’s 2014 business school admissions officers survey, most U.S. MBA programs haven’t followed their lead. The survey indicates that just 13% of the participating 204 business schools say they reduced the number of essays for this admissions cycle, compared to last year. Only 3% of schools plan on further reducing the number of required essays for the next application cycle.

According to Kaplan Test Prep’s executive director of pre-business and pre-graduate programs, Brian Carlidge, “Our survey finds that the overwhelming number of MBA programs continue to see value in applicants submitting more information about themselves. From what we’ve seen, the business schools that have cut their number of admissions essays are doing so to streamline the process, believing they can get what they need from applicants through fewer, more focused essays. While it may sound counter-intuitive, some applicants may find fewer essays and lower word counts difficult as it forces them to be more succinct. We encourage all aspiring MBAs to put effort into their essays, no matter the number or word count, as this piece of the application gives them the opportunity to show admissions officers why they’d be a good fit for the school in a way that their GMAT score, undergraduate GPA and work experience cannot.”

Analysis.

I certainly agree with Kaplan that MBA applicants need to put serious effort into their essays regardless of how many there are, but I found the disconnect between the highly publicized drop in essays for top-ranked programs vs. the relatively constant number of essays for lower ranked programs curious.

I’m going to indulge in speculating about the causes of this discrepancy:

The competition among the elite programs is intense. Application volume is a factor in rankings and also in perception of a school’s panache. Since more application work essentially raises the cost of applying, more essays could mean fewer applicants for these highly competitive programs. And they don’t want the hit to their application volume.

Perhaps lower ranked programs are more concerned about yield than about application volume. They want to accept people who put a little more effort into their applications. That effort implies the applicants are more invested in the application and are signaling more strongly that they really are interested in attending the programs they are applying to.

Finally another thought that really calls into question the validity of the Kaplan conclusions: While the Kaplan survey asks specifically about essays, it doesn’t discuss information being collected in short-answer responses and in boxes in the application. Many schools, notably HBS, have moved much of the information gathering to these boxes and short-form answers as opposed to the essays of a few years ago.

It’s a mistake to assume that those short-form answers are any less important than the essays.
MBA 5 Fatal Flaws
Linda AbrahamBy Linda Abraham, president and founder of Accepted.com and co-author of the definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.

Related Resources:

School-Specific MBA Application Essay Tips
MBA Rankings: What You Need to Know
How to Answer “Mini” MBA Essay Questions

The Wharton Executive MBA Program: An Insider’s View

Click here to listen to the show!

Diane Sharp & Kathy Lilygren

In this week’s podcast episode of Admissions Straight Talk, Linda Abraham speaks with the Wharton EMBA program admissions directors, Diane Sharp and Kathy Lilygren.

Be sure to listen to the full recording to learn what they are looking for in applications, when to apply, and what the EMBA program has to offer.

00:01:00 – You asked. Linda answers! She provides 5 key steps to help an MBA applicant prepare to get accepted in next year’s application cycle.

00:07:20 – The Wharton Executive MBA: What is it and whom is it for?

00:08:00 – Enjoy electives? Wharton EMBA has lots to choose from!

00:10:00 – Global Experience Element: What is it? Where will it take you?

00:12:29 – Global Modular Program – What is gained by this program?

00:15:20 – FT MBA vs PT EMBA Wharton programs.

00:19:34 – How much do MBA, EMBA and Wharton alumni network?

00:22:00 – Philadelphia and San Francisco Wharton Programs. Which campus is best for you?

00:24:50 –  Stand out Wharton executive MBA grads: Steve and Don.

00:28:50 – How a Wharton EMBA can facilitate career change.

00:31:50 – Time management: Absolutely critical.

00:34:00 – How to make your Wharton application stand out (in a good way!).

00:40:20 – What NOT to do on your application

00:43:00 – Fact or fiction:  A 700 GMAT is necessary for acceptance?

00:45:00 – The GMAT is your friend?!

00:46:55 – Diane’s and Kathy’s parting words and great advice.

Listen to the full conversation to learn more!

Related Links:

• Liveslow’s comment
• Wharton 2015 EMBA Essay Tips
• The Wharton EMBA
• Contact Wharton EMBA

The next (and last for 2015 admission) Wharton EMBA deadline is February 10, 2015. So if Wharton EMBA appeals and you are reading this around the time we post this podcast, you still have time to apply.

Related Shows:

• Wharton’s Health Care Management Program with June Kinney
• Globla Business Leadership at Wharton’s Lauder Institute
• Nexus of Business & Law: Penn/Wharton’s JD/MBA
• Mike Hochleutner of Stanford’s MSx
• A Transformation Year: The MIT Sloan Fellows Program

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