CFA out of the way,…for now, time to start thinking about a full-time MBA for next year(09). I’m not sure which school I’ll be applying to, but I’m shooting for the best possible school I can manage to get accepted by. That being said I need every possible advantage I can muster, so what is the best application cycle to submit my application? I’m pretty new to this whole MBA scene, so I have no idea what the advantages/disadvantages are to each cycle. Love for some feedback from people who really shot for the stars for their MBA school. Many thanks,
Shurmon, I recently got accepted to U Chicago’s part time program, so I may be able to help here. -First and foremost, take the GMAT. If you’re looking to get into a top tier school you should hope for a 660 or higher. A 700 would be money at most schools. -GPA isn’t as huge of a factor as you might think. A 3.2 in your undergrad would be acceptable. Obviously the higher the better, but it was probably a few years ago. -How much work experience do you have? 5 years is about standard. -Be prepared to differentiate yourself in interviews and essays. Be specific about your goals, and why that school would help you reach those goals. -You can apply for early decision at most places in November. If you have the time to devote to the application process I would suggest it. If you don’t have the time, hold off until you can put together the best possible application. -Sell the CFA. It shows commitment to your profession as well as academic fortitude. Good luck my friend.
ChicagoPMA, Any words of wisdom regarding the interview? I have the interview for the part-time program at Chicago this week. Thanks.
ChicagoPMA, I’m going to apply to GSB in the next few months and I’d appreciate your advise. Could you shoot me an email at maratikus.maratikus@gmail.com so that we will be able to get in touch without you posting your email address here?
With the interview, you want to be able to really identify yourself and your goals specifically through experiences. Know where you want to go, how you got to where you are, and how an MBA will help you perpetuate those goals in the future. Be able to cite examples of things that you’ve done that relate to the line of questioning. Ideally, every answer you have should begin with some variation of “When I was doing blah blah blah this showed my resolve for whatever.” Most importantly, be friendly and jovial. Act professional, but don’t be stodgy. Maratikus, I’ll try to email you from my personal account when I get home from work.
You really think someone getting an MBA full-time should have 5 years of experience? It makes sense for someone doing a part-time MBA having 5 years experience, but for someone who does it full-time I think the opportunity costs are too high to be out of the work force with that much experience.
part-time programs are quite different than full time, and can have different applicant pools and admissions standards (sometimes easier / harder depending on the program). If you are “shooting for the stars” then a 700+ is a must and 3.2 will not cut it unless you have outstanding work experience (ad went to a well regarding undergrad) Generally 3-4 years of quality work experience showing increased responsibility and professional development are expected. Additionally, I hope you have something that sets you apart outside of work (or at least something that makes your work experience “extraordinary”) I have known many, many investment banking analysts from bulge brackets with top gmats and top grades from very good schools that did get into their top choices. P.S. I would imagine that due to tough economic conditions and the scramble on Wall Street that the next few years could see an uptick in B-School aps. (apps go up when opp costs go down)
ShurmonMcCoy Wrote: ------------------------------------------------------- > You really think someone getting an MBA full-time > should have 5 years of experience? > > It makes sense for someone doing a part-time MBA > having 5 years experience, but for someone who > does it full-time I think the opportunity costs > are too high to be out of the work force with that > much experience. I’ll be heading back to school when I have 5 years of work experience. There are a fair amount of people that go back to school after four years, such as people that worked in a junior sell-side or consulting program for 2-3 years before moving to a private equity program for two years, and then going back to business school. This is a pretty standard career track for pre-MBA PE’s.
I’m starting at a top 5 MBA this fall… Here is my advice. 1) It generally doesn’t matter which round you apply (1 v 2)…what matters is strength of application. Do not apply in round thinking that you’ll get an advantage…they will just waitlist you and you’ll be moved to round 2 anyway if u are a good but not great candidate. 2) Whatever you do…do not sound desperate or try to make yourself look unique in an artificial way. Speak the truth about why you want the MBA even if it boring. 3) In the essays, be personal but keep it professional. Don’t be a drama queen. 4) Do not write a generic application. You must make a convincing argument for why a particular school is a great fit…for the elite schools. 5) You must show an acceptable level of interest in the program before even applying. For example, you should visit the school in person and speak with students and visit at least 1 class before applying and you should interview on campus. If you are not willing to put in this effort there is no point in even applying to the school because you will probably be rejected. And let’s face it…you are giving up over $200K to get the MBA…the cost of time off, airfare, and the hotel…are a drop in the bucket. 6) If you have typos in the application, it will be rejected. 7) Get a 700 on the GMAT and make sure the math is in the 80 percentile if you are going into finance…which u probably are…unless you have other ways to prove your quantitative ability like passing the CFA Level III. The people who read your application are a lot like you are…so imagine what you would think of someone with a similar application as the one you write.
good advice from markbot.
Differentiation is one of the key factor. B-School normally look for star in whatever you do whether it is micorfinance or i-bank or poetry or Olympics. Diversity is very important to them. So make sure to show yourself how are you when compared to people in your profession. How do you contribute to school and other students. Emphasize on Leadership skills not execution but how your leadership led to successful execution kind of stuff. And of course GMAT over 700. S
Thanks for the advice. I agree about the interview. I was thinking about it the other day and came to the conclusion that I was going to be myself because it’s not a job interview. School’s about using your brain, not following the leader.
i agree with markbot with the following exceptions (i also got in a top 5 school): you don’t have to interview on campus. i interviewed locally. not getting a 700 on the gmat isn’t a dealbreaker. that being said, if you get a 700, you don’t need to worry about that being a reason you don’t get in. if you’re rejected with a 700, there are other reasons you were dinged. i got in with a 690.
We can all agree on what the top 3 schools are, but who else makes it the “top 5”?
I think top 5 can be any of the following six: HBS, Stanford, Wharton, Kellogg, Chicago, MIT
Really? I would have thought HBS then Wharton, and then MIT/Columbia/Stanford in no particular order.
Here is my take from many months of research…General consensus is Stanford and/or HBS at number one. I’ve heard some people argue for Wharton at the number one spot, but they’re the minority. Wharton is firmly in the number three spot though. Kellogg, Chicago GSB, and MIT are viewed as equals with each having a particular strength (Kellogg with Marketing for example). After these six, Dartmouth, Columbia, Haas, Michigan, NYU, UCLA, Darden, Duke and Cornell round out the top 15. All of these schools, and many more have great programs and depending on your goals, a lower ranked school might be a better fit for you you than a higher ranked one. You can go to the US News and Business Week websites to view their rankings. There are many rankings out there, but these two seem to be taken the most seriously. In any case, you should look at more than just rankings when choosing a school. Like others have said here, it’s important to visit the school and attend an information session if possible. Not only does this demonstrate your interest in the program which is something every admissions committee loves to see, but it also gives you an idea of the kind of people you’ll be around for two years (or longer if you go part time). Also, if you have a good idea of the type of companies you want to work for, look at a school’s career report to find out if those companies recruit there. Good luck on your apps!
yes, and don’t rely on any ranking. There are myriads of way that schools use this to manipulate ranking!! Be a cynics like most analysts.
In my opinion, if you are going into finance (which u are since you are studying for the CFA), the top MBA programs are Wharton, Chicago, Columbia, MIT, Harvard & Stanford. Harvard and Stanford are not known as finance schools though. Personally, I think Wharton and Chicago are the top 2 schools in finance. Columbia is a top school in finance by default since it’s in NYC, although for some odd reason there is so much online hate for the school. Add in Northwestern for general management or marketing…and those are generally considered to be the top schools. My personal appraisal of Harvard grads is that they have a lot of confidence in themselves and are real asses…but really don’t know jack about finance. When I become a MD, I’m going to recruit from Chicago, Wharton, Columbia, & MIT.
forgot to add that NYU is also good in finance. it’s their specialty. however, most lay people and brand conscious snobs don’t like the school. it has great finance recruiting. i think I would direct HR to throw a couple of bones their way also.