1. Question the Status Quo
2. Confidence Without Attitude
3. Students Always
4. Beyond Yourself

Keep those principles very much at the forefront of your mind as you prepare your Haas application.

Ready to get to work on your Haas application? Read on. 

Haas application essay tips

This year, Haas has streamlined its essays a bit. Essay one has transitioned into a video essay, and there is one additional written essay.

Essay #1 – Video Essay

What makes you feel alive when you are doing it, and why? You will be able to test your audio-visual connection before recording. Video essays should last 1-2 minutes and may not exceed 2 minutes. You have two (2) attempts to record your video essay.

This essay question is not just an opportunity for the adcom to gain an authentic perspective of an activity that is important to you, it’s a key to unlocking a deeper understanding of your character and values. It’s a chance for you to share what motivates and energizes you, and why. Beyond what matters to you, this question seeks an answer to why the activity fills you with a sense of being on top of the world. There are no limitations on the areas of your life you can explore for your answer. However, considering the broader application, there are specific areas that serve to highlight your professional experience and academic achievements. This essay is your chance to showcase a side of yourself that might not be immediately apparent in your application, providing a more comprehensive view of your interests and motivations. 

Because this is a video essay, you will be able to convey your enthusiasm verbally. Describe how and why the activity has had an immense impact on you. You might, for example, explain how you feel when you save a life as a volunteer emergency medical technician – from the adrenaline rush of immediately arriving on the scene to the elation and relief you feel when you know your quick thinking and actions have saved a life, your gratitude for the training that provided you with the necessary tools, and the humility that renews your commitment to making a difference in this way. Alternatively, you could share your experience of leading a community effort to save stray dogs from certain death. For a dog lover, this activity is emotionally rich and deeply fulfilling. Driven by empathy, it might be sad, considering the extreme challenges a stray dog faces, but knowing your act of kindness and commitment to help such animals provides you with optimism for the life they have yet ahead. This fulfillment drives the cycle of advocating for stray animals and continued participation in these activities.

Aim to reveal important aspects of your character and values, and highlight the unique contribution you can make to the Haas community. The admissions reader will understand the difference you will make as a member of the next MBA class, bringing your unique perspective, experiences, and skills to enrich the community. 

Essay #2

What are your short-term and long-term career goals, and how will an MBA from Haas help you achieve those goals?

Short-term career goals should be achievable within 3-5 years post-MBA, whereas long-term goals may span a decade or more and encompass broader professional aspirations. (300 words max)

For its goals essay, Haas has clarified that applicants should consider their short-term goal as one they would achieve three to five years post-MBA. The position you desire immediately after graduation isn’t necessarily at play here. Thinking about the short-term goal differently than your post-MBA goal means that while considering what you want to do immediately after the MBA program, you must focus on the steps you’ll follow, in three to five years, toward your long-term goal. Of course, you want to discuss the industry and function in your answer, as well as the developmental milestones you will have achieved since graduation.

To write this essay well, you must first understand and share Haas’s four Defining Leadership Principles (as presented on the Haas website): 

• Question the Status Quo: We thrive at the epicenter of innovation. We make progress by speaking our minds even when it challenges convention. We lead by championing bold ideas and taking intelligent risks.
• Confidence Without Attitude: We make decisions based on evidence and analysis, giving us the confidence to act with humility. We foster collaboration by building a foundation of empathy, inclusion, and trust.
• Students Always: We are a community designed to support curiosity. We actively seek out diverse perspectives as part of our lifelong pursuit of personal and intellectual growth. There is always more to learn.
• Beyond Yourself: We shape our world by leading ethically and responsibly. As stewards of our enterprises, we take the longer view in our decisions and actions. This often means putting the collective good above our own interests.

For your essay, I recommend one of two approaches:

1. Start by describing your long-term goal, and then explain how your short-term goal (three to five years post-MBA), combined with a Haas MBA education, will help you achieve it once you gain a few years working toward your goals.

2. Start by describing your short-term goal (three to five years post-MBA) and build toward your long-term goal, explaining how a Haas MBA education would be the catalyst to achieve both goals.

With respect to your short-term goal, you must convey your understanding of a given career path – that is, how the role you take post-MBA will progress within the first few years to prepare you to achieve your short-term goal in three to five years. For your long-term goal, consider the significant problems you aim to solve using business tools and strategies. 

Regardless of how you start your essay, be sure to address how Haas’s four principles align with your goals. Because the school gives you room for only 300 words and you need to discuss how Haas’s resources will enable you to become a better leader, you can focus on just one or two principles. For example, you could explain how the program’s strong focus on entrepreneurship could help you launch your own business, or how its commitment to social impact could help your future company solve some of the world’s most challenging problems.

Also, explain how Berkeley Haas’s unique culture could help you develop into a better leader. For example, you might discuss how Haas’s emphasis on collaboration and teamwork could help you build stronger relationships with your colleagues, or how its commitment to diversity and inclusion could help you become a more inclusive leader.

Finally, summarize why Haas excites you most and how you will grow personally and professionally by earning an MBA from its program.

Supplemental Information

Distance Traveled – At Berkeley Haas, we consider “distance traveled” as the contextual information that helps us understand the unique circumstances, challenges, or influences that have shaped your personal and professional journey.

We invite you to share aspects of your background, personal circumstances, or significant experiences that have meaningfully impacted who you are today and how you’ve reached this point. Please tell us how these experiences have influenced your perspectives, decisions, and aspirations, and how they contribute to the person you are becoming. (300 words max)

This essay response will benefit from your taking time to reflect on your life and identify key experiences that have influenced your values and character. Each of us has a unique set of life experiences, and when we face challenges, we learn about ourselves and respond to given situations in different ways. 

Haas would like to learn more about how your life circumstances, challenges you have faced, and obstacles you have overcome have shaped who you are and influenced your approach to life. What motivates you? How did a particular situation influence how you see yourself and the actions you take? 

For example, were you raised in a single-parent household? If so, how did that influence your decisions later in life? Are you an immigrant or an international student whose parents arranged your marriage when you were just 2 years old? Have you had to work to help your family thrive since you were 10 years old? Are you a first-generation college student, and if so, what does it mean for your family to see you graduate from school? While these situations might have affected your grades or test scores, the key to this essay is demonstrating that despite your circumstances, you have beaten the odds.

If you have not faced obstacles in your life, describe your commitment to how you have made an impact within your community to benefit others. What was your motivation? How did your actions benefit others? Have you volunteered to help an organization install a playground to benefit the children in your local community? Do you support legislation that would benefit the elderly or those with disabilities? Are you active in an organization that educates children who can’t afford a formal education? As you answer this question, consider how your involvement has benefited others who may have experienced different life circumstances.

Optional Statement 

This section should only be used to convey relevant information not addressed elsewhere in your application. This may include explanation of employment gaps, academic aberrations, supplemental coursework, etc. You are encouraged to use bullet points where appropriate. (300 words max)

Haas’s optional statement allows you to ensure that the adcom does not have to guess the reasons behind any of the following situations (or something similar):

• You had terrible grades in your first year at university. (Perhaps your parent became ill, and you flew back and forth to care for them, or you worked 30 hours a week to make ends meet.)
• You received a subpar GMAT or GRE score. (Maybe you are not a great test taker and can prove it with your inadequate ACT or SAT score alongside your 4.0 GPA. Or perhaps you were initially premed and realized after volunteering at a hospital that medicine is not your thing.)

One word of caution is to make sure your explanation doesn’t sound like an excuse. Own the situation, and discuss how you have rebounded from poor grades or can demonstrate how you will perform well in grad school courses, because you have taken additional coursework and received As.

Other Information

The information below details specifics about what applicants are to share as part of this section. When speaking about extracurricular and community involvement, think quality over quantity and provide those activities that you are passionate about and in which you were deeply involved. This information provides insights into how you might be involved when you join the Haas community. The admissions committee will evaluate both the depth and quality of your involvement and how you fit with the defining principles of the school.

• If you have not provided a letter of recommendation from your current supervisor, please explain. If not applicable, enter N/A.
• List, in order of importance, significant community and professional organizations and extracurricular activities in which you have been involved during or after university studies. Include the following information for each using the format below:

• Name of organization or activity
• Nature of organization or activity
• Size of organization
• Dates of involvement
• Offices held
• Average number of hours spent per week

• List full-time and part-time jobs held during undergraduate or graduate studies indicating the employer, job title, employment dates, location, and the number of hours worked per week for each position held prior to the completion of your degree.
• If you have ever been subject to academic discipline, placed on probation, suspended, or required to withdraw from any college or university, please explain. If not, please enter N/A. (An affirmative response to this question does not automatically disqualify you from admission.)

Haas application deadlines

Source: Berkeley Haas website

***Disclaimer: Information is subject to change. Please check with Berkeley Haas directly to verify its essay questions, instructions, and deadlines.***

Haas class profile

Here is a look at the UC Berkeley Haas MBA Class of 2026 (data taken from the Berkeley Haas website).

Class size: 295

U.S. minority: 51%

Underrepresented minority: 29%

Female: 42%

LGBTQ+: 19%

Veterans: 7%

Average years of work experience: 5.66

Middle 80% range of years of work experience: 3.2-8.5 

International: 38%

Countries represented: 35

Average undergraduate GPA: 3.65

Middle 80% range undergraduate GPA: 3.38-3.9

First-generation college: 15%

Undergraduate majors:

• Engineering: 25%
• Economics: 18%
• Business/Commerce: 13%
• Social Sciences: 12%
• Other: 9%
• Arts/Humanities: 7%
• Natural Sciences: 7%
• Computer Science 5%
• Finance: 4%
• Math/Physical Sciences: 4%

Median GMAT score: 730

Middle 80% range GMAT score: 690-750

Median GMAT Focus score: 660

Middle 80% range GMAT Focus score: 615-675

Median GRE Verbal score: 161

Middle 80% range GRE Verbal score: 155-168

Median GRE Quant score: 162

Middle 80% range GRE Quant score: 154-167

Pre-MBA industries:

• Consulting: 23%
• High Technology/Electronics: 21%
• Financial Services: 17%
• Other: 10%
• Not-for-Profit: 7%
• Health/Pharma/Biotech: 6%
• Military: 5%
• Energy: 4%
• Government 4%
• Consumer Products/Retail: 3%

Related Resources

• Showcasing Leadership in Admissions, a free guide
• Four Tips for Displaying Teamwork in Your Application Essays
• Admissions Straight Talk Podcast for MBA Applicants

The post UC Berkeley Haas MBA Essay Tips and Deadlines [2025-2026], Class Profile appeared first on Accepted Admissions Blog.

For many business degree hopefuls, the MBA remains the gold standard of graduate management education, and not without reason – an MBA can be the start of a new chapter in your life. Professionally, it can help you accelerate your career or make a career pivot. Academically, it can help fill gaps in hard and soft skills. Personally, it can help you discover more about yourself. For these reasons, many cite their MBA experience as being transformative. 

An MBA is the goal for many people who aim to pursue a business career. But what about individuals who have the desire to pursue graduate management study and start making their mark in the business world but don’t meet the work experience requirement of most MBA programs? Is gaining acceptance to business school without work experience possible? The short answer is yes, it is! The two most common paths for candidates in this situation are pre-experience master’s programs and deferred MBA programs.

Pre-experience/Early Career Programs

The terms “pre-experience” and “early career” are used interchangeably, but they both refer to programs that cater to recent graduates (“recent” meaning fewer than three years out of college). While the first offering in this category was the general management MiM (master’s in management) degree, the portfolio of programs now includes master’s degrees in finance, innovation and entrepreneurship, and data analytics, to name but a few options you might find at business schools today. Business master’s (BMs) degrees in data science, accounting, finance, and health administration are generally the most searched BM programs in the United States.

Applicants in this category are commonly referred to as pre-experience or early career candidates, and this market continues to be popular; according to GMAT Geographic Trend Report: Testing Year 2024, while global GMAT scores are most often sent to MBA programs (63% of them are), the proportion of GMAT score reports sent to BM programs has declined from 36% in 2020 to 30% in 2024. Although pursuing an MiM or similar program doesn’t negate the need for an MBA down the road (indeed, you will find individuals with both an MiM and an MBA), these programs are excellent choices for recent graduates looking to explore their options in the business world. 

Candidates who opt to pursue their business studies now, rather than waiting until they’ve earned a few years of work experience, might do so for a few reasons: they might want to specialize early on in a certain area, such as finance or marketing, to enter a specific function; they might want to “convert” their liberal arts or science degree into a business career; or they might come from a business undergraduate degree but want to better understand how theory is applied in the real world so they can hit the ground running in their post-graduate job. Whatever the candidate’s reason, these degrees provide an excellent foundation and help individuals build the skills, knowledge, career support, and network to get a head start in their careers. Additionally, some MBA programs provide a path for their MiM students to return to complete their MBA as a second-year student.

Deferred MBA programs allow students in their final year of study (or just after, if they’re pursuing a master’s without full-time work experience) to secure a seat in the MBA classroom before gaining the generally required work experience. These programs tend to attract highflyers – students with excellent academic credentials and internships, who have demonstrated leadership potential, and who have already started formulating career goals. These candidates understand, and can articulate, how an MBA will help them achieve their goals. These programs are a great option, because they offer security (you don’t have to worry about studying for the GMAT and writing applications while juggling your busy work schedule!) and add some clout to your resume (“Wow, already accepted to an MBA program before you’ve even graduated? Impressive!”). Of course, as with anything, there are pros and cons, so it’s important to determine whether committing yourself to a deferred program makes sense with your career plans. If you decide that a deferred MBA program is the best option for you, bear in mind that they are incredibly competitive. 

Here’s some information to help you better understand which schools offer deferred MBA programs and what these programs are all about. (Information is accurate as of February 2025.)

Harvard Business School 2+2 Program 

Harvard’s 2+2 program is what the name implies – a minimum of two years (four, maximum) of work experience, followed by two years of MBA study. Harvard is looking for “innovative thinkers who have demonstrated leadership and analytical skills and want to develop their knowledge and passion to make a difference in the world.” And this difference doesn’t have to be in a “traditional” business area. In fact, the 2+2 shows some preference for candidates who are pursuing paths “that aren’t as well established”; this could include candidates who plan to work in an operating company, come from a lower socioeconomic background, are first-generation college students, aim to pursue a technically demanding role, or aspire to entrepreneurism. So, if you’re not focused on joining one of the “big three” strategy consulting firms, don’t let that stop you from applying. You might just be what the 2+2 is looking for.

New York University (NYU) Stern NYU x NYU/Stern Program

Undergraduates from NYU’s College of Arts and Science, Tandon School of Engineering, Global Liberal Studies program, Stern School of Business, and Steinhardt School of Culture, Education, and Human Development can opt to join the full-time, two-year MBA program at Stern (without needing to take the GMAT or GRE) two to five years after they graduate. Financial support is a big pull with this program – accepted students are granted an Early Advancement Award of $10,000, which covers part of their MBA tuition. These students are also eligible for other Stern scholarships, including the Berkley Early Advancement Fellowship, which covers all fees and tuition for the year in which they matriculate. Accepted students with an interest in technology or in the fashion and luxury industries, and who have relevant post-undergraduate experience, can enroll in the Andre Koo Technology and Entrepreneurship MBA program or the Fashion & Luxury MBA program, rather than the traditional two-year MBA program.

Columbia Business School (CBS) Deferred Enrollment Program

CBS’s deferred admissions option offers flexibility; admitted students can explore the professional world for two to five years before beginning their MBA studies at a time that works best for them. This is a great opportunity for individuals who are looking to explore their career options and develop a better understanding of their business interests and passions. The flexibility continues once students begin their studies; they can specify in a letter of intent whether they prefer the 16-month (January) program or the 20-month (August) program, the latter of which includes a summer internship. Having spent time in industry or entrepreneurship during the deferment period can help students determine which MBA journey will offer the teaching and experience they need to achieve their desired professional and academic development.

Wharton Moelis Advance Access Program

Wharton’s deferred admissions program offers recent undergraduate or master’s degree students the chance to work for two to four years before joining the MBA program as a Moelis Fellow. The program is meant for “students who are ambitious, innovative, and prepared to use a sense of professional liberty to maximize their early career experiences.” In addition to seeking proactive, motivated students, Wharton encourages admits to take professional risks during the deferment period and take advantage of the opportunity to “pursue [their] early years with increased confidence and risk-tolerance.”   

Stanford Graduate School of Business Deferred Enrollment Program

Stanford’s program offers something that most do not – deferred MBA admits are able to take as little as one year (but no more than four) to gain experience before beginning their MBA studies. It is open to students in either the final year of their bachelor’s or joint bachelor/graduate program, and to those in a graduate program that they started immediately after their undergraduate study. We should note that Stanford uses the same evaluation criteria for deferred candidates as it does for applicants to its full-time MBA program, assessing how they think, lead, and see the world.

Stanford cites deferred enrollment as a good option for candidates who are unsure of their long-term professional path and feel they would benefit from gaining full-time work experience first. The school also indicates that some industries – such as private equity, biotech, and management consulting – recruit only MBA candidates who have either pre-MBA experience in that field or specialized knowledge. So, taking time out to gain that experience and knowledge can be valuable in ultimately achieving your post-MBA career goals. 

Interested in a dual degree option? Some of Stanford’s programs allow you to wait until the first year of your MBA to apply for a dual degree; others prefer that you apply in the year immediately before you matriculate in the Deferred Enrollment Program.

Stanford expects admitted students to “pursue opportunities that enable [them] to build expertise, enhance [their] skills and knowledge, expand [their] perspective, and develop professional judgment and self-confidence” during the deferral period. So you will need to reflect on what activities will allow you to develop and how you should spend your pre-MBA time.

Kellogg Future Leaders Deferred Enrollment Program

“Graduate with the confidence that incredible things are ahead.” Kellogg’s deferred enrollment program allows admitted students to work for two to five years before beginning their MBA journey. The admissions committee wants to get to know you and to understand your motivations and why Kellogg is a fit for you. Master’s and undergraduate students (excluding law, medical, and PhD students, who apply through the standard admissions process) can come from any study discipline and either graduated in the past year, are in their final year, or went straight into graduate study post-bachelor’s.

The usual admissions requirements apply – test scores, essays, letters of recommendation, interviews – for some candidates, but not all. Applicants who are already engaged in undergraduate studies at Northwestern are exempt from having to take either the GMAT or GRE, so that’s one application requirement that can be ticked off the list for candidates already wearing the purple N.

Yale School of Management Silver Scholars Program

Yale’s program works slightly differently from the other deferred admissions programs on this list. College seniors earn their MBA in a fast-tracked, three-year format immediately after they complete their undergraduate degree. The program structure is as follows: Year 1 covers the core curriculum, Year 2 involves a full-time internship, and Year 3 comprises electives. The opportunity to develop academic skills while simultaneously gaining professional experience is a unique one. In addition, Silver Scholars learn alongside students from Yale’s traditional MBA program. Access to knowledge and experience? Check!

Yale says, “Silver Scholars are chosen for their combination of intelligence and common sense, maturity and curiosity, passion and compassion. Each has made a difference and distinguished themselves in a particular field of interest.” You’ll need to ensure that you really stand out through the application process (which is largely the same as for the traditional MBA program). Remember, you’ll be studying alongside students with five years of professional experience. You’ll need to convince the adcom that you have what it takes to contribute to classroom discussion and debate.

Chicago Booth Scholars Program

Chicago Booth’s program is open to students who plan to pursue either the full-time or part-time MBA and allows candidates to apply before they graduate from college, then defer and gain professional experience for two to five years before enrolling in one of the school’s MBA programs. Booth cites flexibility as one of the major differentiators. Booth Scholars have the option of pursuing the Evening MBA or Weekend MBA, if one of those programs is a better fit with their career objectives.

Booth says that candidates for the Scholars Program “demonstrate intellectual curiosity, personal maturity, competitive scores, and leadership” and that they “have a history of substantive internships or part-time jobs and/or an entrepreneurial spirit.” The application essays make clear that successful candidates need to be able to articulate their career goals and where the MBA fits in. The school wants intelligent, independent thinkers with a considered career map. Although one’s professional goals can change during the deferment period, of course, the adcom wants to see that candidates have taken the time to think through their career path and how attending Booth aligns with it.

UVA Darden Future Year Scholars Program

Darden’s program allows final-year undergraduate students, or full-time master’s students without work experience, to work for two to five years before starting their MBA studies. Student backgrounds are diverse, because Darden aims to recruit individuals who bring to campus a range of abilities and professional and academic experience. In 2024, 121 Future Scholars were admitted and were in the deferral period, busy enhancing their professional experience. This group comprises an internationally (20%) and academically (46% non-business degrees) diverse group of students hailing from 16 countries and 43 undergraduate institutions. Applicants are evaluated in three areas: academics, extracurricular involvement, and personal characteristics. While the latter of these criteria is vague, the adcom does say that the school is looking for individuals who “aspire to be future ethical leaders and managers in a global world.” Putting thought into why you have the potential to be this kind of future leader, and whether your values align with Darden’s, would be time well spent.

MIT Sloan Early Admission

If you are an “ambitious and forward-thinking student,” Sloan’s deferred admissions option might suit you. It is open to final-year students who will not enroll in a PhD, MD, or JD program immediately after graduation and to those in graduate study (who started immediately after completing their bachelor’s) without full-time work experience, except for internships or co-op experiences. Accepted students can work for two to five years before joining the MBA program.

The admissions process is slightly different for Early Admission candidates, and the application calendar differs for non-MIT undergrads. Candidates are required to submit a 300-word cover letter demonstrating their fit with the school. MIT is quite specific about who it’s looking for. The school wants “thoughtful leaders with exceptional intellectual abilities and the drive and determination to put their stamp on the world … people who are independent, authentic, and fearlessly creative … who can redefine solutions to conventional problems, and strive to pre-empt unconventional dilemmas with cutting-edge ideas.” There is a lot to think about and squeeze into a one-page cover letter, so carefully consider how you fulfill the program’s stated criteria. Additionally, candidates must submit a resume and a 60-second video in which they introduce themselves to the class. This video is an excellent opportunity to show your personality and bring the person introduced in your cover letter to life. A second video is required in whish applicants must respond to open-ended questions that are randomly generated.

Additionally, interested MIT students who have a cumulative GPA of 4.2 or higher are in luck, because they can waive the GMAT/GRE.

Berkeley’s Accelerated Access Program 

Berkeley’s Accelerated Access Program is open to undergraduate and graduate students and encourages domestic and international candidates with diverse backgrounds and academic areas of study to apply. Admitted students not only have access to the full-time MBA program but are also eligible for consideration for dual degree programs.

Students are required to work for a minimum of two years before beginning their MBA studies but are allotted a maximum of five years in which to explore their career interests. Although Berkeley does not require its deferred students to follow particular career paths, it prods them to pursue “employment that enhances [their] leadership profile and prepares [them] to contribute to the mission-driven business community” at the school. To ensure that admitted students are meeting the required criteria, some admissions offers are conditional, and students are required to attend check-ins with a Berkeley Haas advisor or career coach. Additionally, a review might be conducted prior to the intended enrollment date to ensure that the student has met the required terms. 

Carnegie Mellon Tepper Future Business Leaders Deferred MBA Admissions Program

In February 2021, Tepper joined the deferred admissions space with its Future Business Leaders program, which allows students to defer for up to four years while they gain professional experience. The program is open to college seniors who plan to graduate from a U.S. university in the current academic year and do not yet have full-time work experience. The school says that “competitive applicants will have a strong academic record, professional internships, and undergraduate leadership experience.” Tepper’s adcom also expects candidates to have put some thought into their career goals and why the program format is a good fit for them (essay alert!). The GMAT/GRE is waived for Carnegie Mellon students, and admits are eligible to apply for scholarships, with decisions to be made at the time of matriculation.

Georgetown McDonough MBA Advanced Access Program 

The most recent player on the MBA deferred admissions scene is Georgetown University’s McDonough School of Business, with its MBA Advanced Access Program (MAAP). The program allows candidates who are either in their final year of undergraduate studies or in graduate school – and have no full-time work experience – to apply for deferred enrollment. Accepted students can secure a place in the class two years out from when they apply, with the option of extending this time period to three or four years.

The application process is thorough. In addition to the standard written application essay (candidates have three question options to choose from) and video essay, MAAP candidates must complete program-specific essays. The prompts for these essays ask candidates not just about their career goals but also about where they stand in working to achieve them. Additionally, applicants are expected to describe their personal and professional development plans. So, you’ll want to take some time to reflect on how you can present yourself as a proactive, principled future leader who will contribute to the school’s community and make an impact in the business world.

If these options sound interesting, but you’re still unsure whether you should study for a master’s now or wait to pursue an MBA, schedule a free consultation with an Accepted admissions expert today!

Related Resources:

• MBA Acceptance Rates: The Selectivity Index
• Admissions Straight Talk Podcast for MBA Applicants
• Retaking the GMAT with a 700 – Should You Consider It?

The post Deferred MBA Programs and Other Options for MBA Hopefuls with No Work Experience appeared first on Accepted Admissions Blog.

Welcome to the 547th episode of Admissions Straight Talk, Accepted’s podcast. Before we join our wonderful guest, I have to mention something. You’ve seen the stats that most people have a great return on their MBA investment, but what about you? Are you going to see that return? We’ve created a free tool that will help you assess where the MBA is likely to be a good investment for you individually. You’ll not only get an assessment, but the opportunity to calculate different scenarios. Again, it’s all free. 

It gives me great pleasure to have back on Admissions Straight Talk Eric Askins, executive director of full-time MBA admissions at UC Berkeley Haas. Eric has a lot of experience in higher ed and admissions. He became the senior associate director of admissions at Haas in 2018 and assumed the role of executive director in 2020. Prior to coming to the left coast, he served in admissions at Fordham’s law and business schools and at The New School.

Eric, welcome back to Admissions Straight Talk. [2:06]

Linda, thanks so much for having me back. Great to be here.

My pleasure, and great to have you. Now, I’d like to start with some general questions about the Haas program and then move into more admissions-related questions. To start, can you give an overview of the Haas full-time MBA program, focusing on the more distinctive elements for those listeners who are probably not that familiar with it? [2:12]

Sure. I’d be happy to. Here at the Haas School of Business, let’s start at the very top, we’re located in beautiful Berkeley, California, just across the bay from San Francisco, a couple short minutes away from Silicon Valley, and really what we often say is that we’re at the heart of what’s next, and what that means is that we’re at the heart of innovation culture. If you were to take the region that we’re located in and put it in the context of global economies, we are in the fifth largest economy in the world. Hopefully, I don’t offend any of you German listeners, but we are on track to overtake Germany to be the fourth largest economy in the world just in terms of all the activity that’s happening.

That’s one of the things that makes Haas unique. Oftentimes, we’re seen from the lens of this is a school nestled in Berkeley, which is this amazing campus. There’s a community of Nobel Prize winners here, the inventions that come from here, but more than that, the focus is on how do people achieve their success while also making an impact on the world? I think one of those things that we captured, this would be the identity of the schools, it’s a little bit of what you asked, was our defining leadership principles. I mean, this has been the core of how we talk about the school over the last, I think it was codified maybe 11, 12 years ago now.

I was just thinking that. [3:44]

Yeah. Yeah, so over a decade, we’ve been talking about the school from the framework of these defining leadership principles, so what are they? They’re a core philosophy that we have about what makes great leaders great leaders. One of the things that makes you a Berkeley leader, one of these great leaders, is that you are pushing boundaries. You’re questioning the status quo. You are developing a sense of confidence, but you’re doing so without pushing others to the side. You’re focused on always learning, always being a student and, beyond all things, you’re thinking beyond just yourself, and that’s really captured in the community here.

I remember talking to your predecessor when those principals were codified, and I was amazed at how well they really captured the ethos of UC Berkeley Haas. They were so succinct and meaningful. I mean, over the years, I’ve seen various branding changes at different schools, and sometimes I think they’re very meaningful and sometimes I think they’re window dressing. I was very impressed, and I have continued to be impressed with the four defining principles at Haas. [4:20]

Linda, one of the things that’s really spoken to us, that it isn’t simply a marketing window dressing or anything along those lines, so when we made a big announcement about them and then, at the 10-year mark where I was already here, we made a sort of a, “It’s been a decade since we’ve launched these.” We had some wonderful feedback, including from a Haas alum, I want to say a 1960s Haas alum, who said, “These aren’t new. We’ve been talking about these in some sense or another since way back when I was at the school.” We’ve got a lot of feedback from our alumni. I think we spoke maybe more succinctly, but the concepts were always here. It’s one of the reasons that the school has lasted. I don’t know if you know this, we’re in our 125th year-

No, I didn’t know that. That’s really impressive. [5:41]

Yeah. We celebrated our anniversary on September 13th. This is a school founded by Cora Jane Flood, one of the only business schools founded by a woman, especially 125 years ago. We’ve just been very proud of all that we’ve accomplished in those last little bit, and we’re looking towards the next 125.

Well, congratulations. Happy birthday. We’ve talked about Berkeley’s past. What’s new? [6:03]

Oh, well, that’s always a great question to answer. What’s new? Now, if we were talking about what’s new in the world today, I think you’re going to find there’s a connection to what’s new at Berkeley Haas. What’s new in the world today? What’s new in the world today? Generative AI. They’re probably the number one topic here especially when we talk about schools that have a touch to the technology sector. Anybody who’s been doing this long enough understands the technology sector has ebbs and flows. It peaks in one, it valleys in another period of time, but the next growth peak appears to be around Generative AI. It’s one of the things that we’ve been working on for years.

Actually, October 8th, I believe, just coming up, we have an AI summit. It’s not our first AI summit. We’ve been doing this for a good long time, but what I love is that we are so connected that we’ve got the folks from IBM Watson, we’ve got the folks from Google, we’ve got the folks who are coming through to talk about what is happening in the world of AI today. The coursework has been there. The coursework will continue to be there, but that coursework has a Berkeley flavor, ethics and AI. It’s one of the biggest courses that we have in this space right now. We need to be talking about that, and we have been. In fact, I won’t plug too many things here because I don’t want people googling and all that stuff, but if you get a chance, our Center for Equity, Gender and Leadership built a playbook maybe 2019, 2020 around ethics and AI. Right now, it’s one of the most downloaded things on our website.

One of the things about being on the cutting edge is sometimes you’re talking about something before people are ready to hear it. That’s AI, but what else are we talking about? We’re also talking about sustainability in business. Now, we have been, again, for several years. Dean Anna Harrison joined us in 2018. She came with three key initiatives. It was innovation, it was inclusion, and it was sustainability. I think that we’ve continued to hit on all those three topics along with all the other things that we do, but within the sustainability, I don’t think there’s another business school that’s doing five topic areas within sustainability, including energy, including agriculture, including corporate accountability, real estate and finance. Oftentimes, when people think about sustainability, it’s hard for them to “What box do I put this?”

What does finance have to do with it? [8:22]

Sustainability and impact finance is one of the courses that people are most interested within the sustainability sector here at Haas, exploring exactly what it means to invest in sustainable business and how to see that grow. At the end of the day, the most powerful sustainability person in any organization are their leaders. It’s the CEO. It’s the CFO. We want to make sure that anybody who comes through our program is getting that level of exposure so that they can be tackling what is probably one of the greatest challenges in the world in front of us, which is climate change, which is how do we grow and continue to thrive without harming the environment around us and actually to go back and maybe fix some of the damage that we’ve already done.

One of the things I noticed in preparing for our call today was something called the Applied Innovation course requirement at Haas. I don’t remember that from the last time we spoke. Can you touch on that a little bit and tell us what it is? [9:06]

Sure. Absolutely. Applied Innovation is the language that we use to describe experiential learning. We launched Applied Innovation coursework. It might be two decades old now. We weren’t one of the first.

Experiential learning I know it’s been there for a long time. You just changed the name. [9:34]

Well, what we did is we focused a little bit on what it is that we actually want to come away with, right? You want to apply what you’re learning, and you want to apply it towards growth and change. Within Applied Innovation, that’s over 20 courses within that subset. You’re required to take at least one, but I know students who’ve taken more than one, have taken two, some have taken three. This is a great place for you to test the hypothesis.

A lot of the learning happens in the ivory tower separated from business, and that’s not what we’re looking for here. We want to make sure that our students have the opportunity to go in market and test these ideas, and so you’ll see that there’s a variety of different courses within Applied Innovation. They include courses like international business development where you have an opportunity to take a consulting project at a global scale, and that includes going in-country to deliver your results. Whether that means implementation, whether that means presentations to leadership, that’s part of that course. It’s probably one of the most popular of our Applied Innovation courses, but then, depending on where you’re looking for, if you’re in a niche market, you may find an Applied Innovation opportunity exists there for you as well.

We’ve got clean tech to market that’s focused on bringing sustainable ideas into the marketplace with a technology focus, social sector solutions, strategic and sustainable business solutions. You’ll find a number of these across the gamut, and what they are is your opportunity to go do work within the context of the actual business space with the guidance of faculty and your group projects and your group work.

What don’t people know about Berkeley Haas that you would like them to know, perhaps a common misconception that you’d like to dispel? [11:09]

Sure. I know that many people find the school’s using a ranking index, something along those lines, and in the rankings, one of the things that actually makes us stand out as unique is that we’re among the smallest business programs in our tier. Top 10, top 20 schools, I think we might actually be the smallest, and sometimes there’s a little ebb and flow with some of the other schools. I don’t always know, and that’s on purpose because we want to build a really strong community with individuals who are connecting with one another. If all you know about us is this, you think, “Well, this is a small bespoke program,” and ultimately, if you dig up just that one surface level deeper, we are located in the heart of one of the major research institutions in the globe.

Our students have the opportunity to take advantage of that, including courses outside of the business school at the School of Public Health even if you’re not doing a joint degree, at the engineering school, arguably the top engineering school in the world, at the high school, at the law school, at the School of Public Policy. If you want to take courses with Robert Reich, you can do so. This is all in the field of opportunity for our students, and that I think is this incredible information exchange. It’s also incredible that you’re connecting into that network.

The joke here is once you’re Berkeley, you’re Berkeley for life, right? Like the Mafia, you can’t get out. This is part of your history forever, but it isn’t just Berkeley Haas and the 50,000 alumni that are connected in that community. It’s Berkeley writ large and the half a million alum in that community. That’s your network, and that oftentimes gets lost because we talk about our corner of campus, but it’s the whole campus that our students have access to.

You have the intimacy of the small business school, but backed by this major research. It is the largest UC campus, I believe, isn’t it? [12:57]

It is the largest UC campus. It is oftentimes-

It’s 30,000 total. [13:09]

Yeah, and it’s oftentimes ranked the number one public institution in the globe.

In preparing for the call, I was reviewing the required core curriculum at Berkeley Haas, and I was struck by the number of classes devoted to both analytics, quantitative side and communications so you’re developing and working and exercising both sides of the brain, I guess. Indeed, business requires quant jocks and leadership, which involves communication, listening, teamwork skills, all that. Is that intentional? Can you elaborate on that a little bit? [13:14]

Absolutely. One of the things that I think we pride ourselves on is that we are educating for the pace of change. The job that you came in to potentially pursue two years ago may not even be here two years from now. That’s the pace at which the world is changing. What’s important for us is to make sure that every student coming through our program has the core and foundational skills to be a leader and to be a successful leader in any industry vertical, in any job function. For that to happen, we need to make sure that that core foundation exists.

I know that there are other schools who choose different models. Some have a more of a choose-your-own-adventure model where you can really narrow in into one specific area. We do give you that opportunity to take advantage of the elective coursework here, but not before we establish a strong foundation which I think puts our students in the exact best position to be able to pivot and adjust to a world that is constantly changing.

Speaking of constant change, one of the things that is changing dramatically is testing admissions. You have the GMAT, the GMAT Focus, the GRE, which now has a shorter GRE. They’re required at this time by Haas. Is there any thought to expand the number of tests that you’ll accept, allow for test waivers, or go test optional? There is a comment -the writing sample component is required, but the GMAT Focus doesn’t have a writing requirement. How are you dealing with all this change, this kind of change that’s right in your basket? [14:43]

Yeah. It’s a great question to ask. Now, I’ll start, Linda, by saying I actually am in support of the changes to the GMAT, the GMAT focus and the changes to the GRE. I think the testing agencies have heard that they need to be more applicant focused. They need to be leaning into what the applicants need in order to succeed. We don’t want the testing agencies to become gatekeepers of great talent that doesn’t reach us in the business school universe.

At the same time, we have to understand that there’s a significant amount of academic rigor in our core coursework, and we need to make sure that the students who come through are going to be successful, so we do need measuring sticks. We do need benchmarks, so where do we land with this world of ever-changing testing landscape and the need for a level of consistency? The way our team operates is we don’t actually evaluate individual application components and then weight them because how do you weight the GMAT versus the GMAT focus versus the new GRE versus the old GRE? Certain schools are taking the EA or any number of other testing-

GMAT, DAT, LSAT. It’s a whole alphabet soup of possibilities. [16:25]

At some point, you have to ask yourselves if you are taking a test that doesn’t cover the material, what is the value to the school? I don’t want to go too deep into that section. What instead I will talk about is what we’re doing. What we are doing is we have a set of competencies that we’re looking for within our evaluative process. One of those competencies includes demonstrated ability to handle the academic rigor of our core. That demonstrated ability, that can show up in your testing, but it can also show up in your undergraduate performance. It could also show up in your professional journey. Because we’re taking that lens, it allows us to then think about these pieces from their actual value components.

I’m not interested in the fact that a GMAT score on the old GMAT is 720 and the concordance tables tell you that in the GMAT focus it’s a 655, and what does a 655 mean versus a 720? It is meaningless. These numbers are in the air. What I am interested in is what is your percentile score on the specific quantitative piece of that? Does that suggest that you will be able to handle the rigor of our core? If that’s not on the GMAT, I’m also going to look at the GRE. Maybe it exists there. If it doesn’t exist there, maybe it exists within your undergraduate performance, maybe the last three years you’ve been working as a data analyst, and that’s where I’m going to see the strength of your skill and ability is. I’m not going to say that one carries more weight than the other. I’m looking for evidence.

This is the dad joke, corny bit of my story. We’re the admissions office. The goal is to admit. We’re not the deny office. We say that’s the financial aid office. That’s the joke. Our focus is on finding evidence in your application that allows us to admit you, and it can exist in a lot of different places. To summarize, I’m in support of any testing agency that’s going to be applicant focused, that’s going to be delivering content that’s useful to the applicants in order for them to succeed, shorter tests. It sounds like a great way to stop them from being the gatekeepers that potentially they have been in the past. For us to receive the most number of qualified applicants or interested applicants that allow us to engage with them meaningfully in all the aspects of their application, any obstacles we can reduce I’m in favor of, but I do think that we still need points of evidence to understand the student’s journey.

Now, going back to one question I had in the last question, there is a comment in that the writing sample component is required, but the GMAT Focus doesn’t have a writing requirement. Will applicants be asked to provide some other writing sample or is it just going to be their essays? How is that? Are you going to remove that comment from the site? I mean, what’s going to happen with that? [18:47]

Sure. We’ve explored that a little bit. The writing section, the AWA section of the GMAT I believe is provided in sort of a raw score format for us as well as an opportunity for us to understand a little bit more about their background. We have writing components within our application. We have the ability to look for those strength areas. That piece of the puzzle, once that disappears from the overall submission, we will backfill because, again, it’s not based on application elements, it’s based on competencies. Within those competency structures, we’re going to look for the pieces that we do have.

Makes sense. [19:48]

One thing I’m actually really excited for, Linda, hopefully I’m not preempting your question, is some of the new things that we’ve brought into this ecosystem, including our video essay. Is that okay for me to talk a little bit about that?

Please go ahead. [19:57]

One of the things that we looked at was what are the challenges to people submitting an application? What are we learning from these pieces of the application, and what could we shift and move around? One of the things is, and I think a lot of schools have this, they have two or three bespoke essays. It’s unique enough and clever enough that you can’t cut and paste the other school’s essay into our essay. We really want you to think about us, and is that a benefit to the evaluative process or is that simply another hurdle or obstacle to the applicant?

We took a close look at what we were doing, but we turned one of our essays into a career goal statement. The career goal statement is it does not need to be unique to Berkeley. It can be. It does not need to be. Theoretically, what you’re looking to do isn’t going to change dramatically by the schools, that you’re going to fit the schools to your journey, not the other way around. That’s probably a best fit for candidates, to fit the schools to their journey and not the other way around. That piece will stay static. We have our “alive” essay. We love our “alive” essay. This is an essay that gives us an understanding of who the student is.

That is custom to Haas. [20:56]

That’s our personal statement. That’s our way to get to know who are you as an applicant. We want to know you. We want to understand how you’re going to show up as a student. We’re going to imagine you in our ecosystem. We love that piece of the puzzle, and then we understood that there was this question that we often got asked. Where do I tell you about Berkeley? Where do I tell you that I love Berkeley? What we didn’t want to see was shoehorning in of a list of courses. Somewhere in the application, I’m going to put a list of courses to show you that I read your website, so we thought what was valuable to us? Linda, you brought it up at the start of this podcast. What was valuable to us is our defining leadership principles? What does it mean to be a leader? How do you think about leadership? How do you engage with these principles?

We thought we’d give a place for students to do that, prospective students to do that, but a place where they didn’t have to sit down and write a whole long thing and try and cut and paste the mission statement from our website and adjust it, ChatGPT it and all the rest of the things that people could do. We wanted an honest engagement with the topic. What we did is we stood up a video. We’re calling it a video introduction. It’s 90 seconds to two minutes. We’re not asking for a prepared speech. Tell us in a sentence about you and then pick a defining leadership principle that’s meaningful to you and engage with it a little bit.

Now, I don’t want to have people be nervous about this, so I’ll be very honest, with the rubric on the other end is we’re judging your understanding of our culture, one of our culture forward pieces, our defining leadership principle. We’re also paying attention to your business communications skills. That’s it. That is the one, two-piece of that whole puzzle. It doesn’t matter. We’re not interested in language skills in this regard. We’re not interested in how you present. You don’t need to be in a suit and tie for this. This is simply an understanding of who you are as an individual, one to two sentences. Here’s this thing about us. We want to know that you know who we are as an institution. Tell us in a sentence or two about it.

I know a lot of the video essays, I’m talking about other schools now, they are assessing the applicant’s presence and poise, but you just said that’s not what this is about. [22:58]

One of the things that’s really important to us is that we don’t use simple disqualifiers, but a simple disqualifier would be, “Oh, well that room is messy,” or, “Well, they didn’t think to put on a tie,” or, “We’ve got normative understandings of what presentation should be.” Those are disqualifiers that are not based in your ability to succeed in the program.

They can also be taught. [23:37]

Now, the student’s communication skills are. Can you articulate a point clearly? That will matter to us. I think, presence, it’s a bit of a gray area, and we don’t ever want to be in the disqualifying business.

Again, it’s an admissions office, not a declining office. Right? [23:52]

Yeah. Exactly. It’s corny, but it’s true.

I think it’s a perspective. On some level, you say you don’t want the test to be gatekeepers, on some level you are a gatekeeper. While I know you want to be in the admissions business, in the end, you have many more applicants than you can admit. [23:59]

Which is true.

I get the focus. I understand what you’re saying, but there is a numerical component to this. [24:18]

I can see the point. It’s true.

Now, you’ve talked and emphasized and we’ve discussed Haas’ four principles as exemplifying, epitomizing the culture and values of Berkeley Haas. Obviously, the video essay asks people to discuss one of those principles that really resonates with them. Do you want to see evidence of all four values in the application or are you willing to admit people who are open to perhaps considering the values and having them inculcated? I’m sure you want some identification, but is it important that all four be present? [24:27]

I don’t see the four as truly being independent ideas ultimately. Questioning the status quo is about a mindset of curiosity. Confidence with that attitude has a lot to do with curiosity of others, wanting to hear what they have to say and making space for them. It’s also a curiosity frame and, going beyond yourself, there’s a curiosity of what matters to others. There’s lots of different through lines and themes within these. These are not four independent ideas.

Humility? [25:39]

Humility is very much a part of all of those pieces as well, right?

Yes. [25:44]

The ability to understand that maybe somebody else has something else to bring, the fact that you recognize that you have more to learn, all of these, they’re ultimately through lines that give us an understanding of the core characteristics of the student. I don’t need you to itemize. Don’t give me a list of the seven ways in which you X in which you are different or beyond.

Show X, right? Show principle one. Show principle two. Right. Don’t do that. Don’t do that. No. That’ll come out a little forced anyways. 

What’s the most common mistake you see applicants making in their applications? [26:07]

Generally speaking, and this is going to be one of those answers that I don’t think is satisfying to a lot of folks, I think there’s a moment in time when students decide that they want to pursue business education at this level when they have an idea in their head, and that idea tends to be their most authentic version of what they want to explore. Then they go ahead and they attend an information session and they get a piece of advice, and then they talk to somebody else and they get a piece of additional advice, and then someone says use this format or use this structure or use these other pieces, and the finished product, if it looks markedly different from the initial idea, I think there’s a loss there.

How do you solve for that, because you do have to refine your work and you do have to bring your best work forward? This is the one that’s always difficult because all of us admissions folks say, “They should be authentic.” Be authentic to that moment. How can you be authentic while also being polished, while also being these things? I think really the piece of advice I would give is to be mindful of that. It’s to be mindful of that original idea because that’s the reason to reinvest in yourself, to take two years out of the workforce if you’re pursuing a full-time program to not only not earn money for two years, but also spend money during those two years because it puts your finances in a deficit in most cases, potentially taking on loans. It’s a risk, and you chose to pursue this journey because something, some moment, whether it can be pointed to as a pivotal inflection point in life or whether it was a slow accumulation of ideas, there’s came a point in time where it tilted and you said, “Yes, I’m going to pursue this.”

That there, that’s to me the most powerful thing that you can deliver to an admissions office. Those get massaged and they get formatted and they get layered, and someone says, “Well, I know that you want to change the world, but if you just wrote that you wanted to be a consultant, you’ll get in.” They get modified away. For those people who hold onto that little nugget, that’s gold in an admissions office because we can see it. It resonates because then it carries through. There’s echoes throughout the application in the journey if it has a meaning.

Also in the interview. [28:34]

I know I’m up here in the little woo woo space, but it’s-

No. It’s much easier to be enthusiastic about something you genuinely believe in, and that comes through in your writing. It comes through in your interview to be sure. It might come through probably in the video if you’re genuinely enthusiastic about something as opposed to just making something up. It can’t be faked. [28:38]

Totally agree, and I will tell you, Linda, that this is not advice that ends at the application stage.

Of course. [29:01]

This becomes the story of how you network with the students that you share the space with. This becomes the story that when you attend a speaker series and you wait afterwards to chat up the speaker that, if you’ve got something powerful and exciting to talk about, they’re going to remember you. If you’re into the workforce and you’re starting, you’re trying to secure that summer internship, it’s going to be the thing that’s passionate and exciting when you’re at the other end and you’re looking to settle in that first job and when you realize that that first job isn’t going to get you where you want to go because the real value of the MBA is lifetime, right? It really doesn’t show up till four or five years when you end up in the C-suite. This kernel is going to carry you through the whole way or the enthusiasm behind it.

Now, you started out, you didn’t start out, but you certainly mentioned very early on in the interview artificial intelligence and ChatGPT and, obviously, Berkeley is a leader in that. What about applicants using it? [29:46]

Good question. I think I’ve gone on the journey that a lot of my peers have gone on. The first piece of this journey was, well, I hope our fraud software can catch it. I think a lot of the world has gone on this journey with us where you stop and then you say, “Well, this is a tool. This is a tool like the calculator is a tool.” I think that’s probably the common thread I’ve heard. I’ve already had typing in an email and I’m getting suggested next three sentences. This is where we are. The tool exists.

I am still going to suggest that there’s no tool that’s going to tell me your career goals. Now, that tool might help you articulate those career goals a little bit better, but those goals will have to be yours. There’s no tool that’s going to tell me the moment that made you feel alive or why it gave meaning to you. It may be that that tool helps you frame your thoughts, put those pieces together in a way that’s cohesive. If English is not your first language and you’re trying to organize your thoughts in a way that would give you the tools to succeed, it could very well be that this is a really useful tool to organize, but those core thoughts have to be yours.

I think that’s key here, and I don’t think that we’re going to move on that concept, but those core thoughts and ideas have to be yours, and then if you’re going to use the tool, I hope that you use it well. Maybe the thing you’re demonstrating to me is your expertise in the use of the tool because I will, and we have seen already, poorly framed and poorly worded things that don’t really seem to capture the individual. This is probably the first year that we’re starting to see that.

That makes sense that this is the first year you’re seeing it. I’ve played with it a little bit. I’ve said this before on the podcast. If you use it blindly, you’re going to produce drivel, very generic and not very meaningful. If you use it either to edit your work, perhaps to generate some ideas or to help you structure an essay, but the ideas are your own, perhaps it has value, but you’re still going to spend a significant amount of time on it. [31:39]

Well, you should. Yeah.

Yeah, or you say, “I might as well just write the thing.” [32:09]

I’m one of those folks that believes the magic happens in the editing. I know other people think it happens in the writing, so the idea generation. I think it’s the moment where you come back and say, “Oh, well, now I see how those pieces should fit together.” With that in mind, I understand that the tool may be used.

We have a statement at the bottom of our application. We haven’t changed it. We’ve had it for a while. It says, “The work product seen here is mine and mine alone.” I think folks should be able to answer that honestly. The work product here is mine and mine alone. Now, if that means that they used the tool to take their ideas and put it on paper and then they reorganized it to reflect the story that they wanted to tell and they feel that that is theirs, they were the producer of the ideas, they were the producer of the finished product, they use an intermediary tool the same way you might use a spellchecker or a grammar checker, I’m going to have to just accept that that’s the world that we’re in today. I don’t think there’s any magical tool that solves that one yet. Generative AI is probably the best tool to catch generative AI, but I’m going to focus on the content. As long as the content is strong, I think that that’s going to be in the candidate’s best interest.

Switching gears again, can you touch for a minute on the Accelerated Access admissions program at Berkeley Haas? Who is it for? How can one get in? It was brand new when we last spoke. Have has any of the earlier deferred admits matriculated yet at Berkeley Haas? [33:20]

Yes, they have. Okay, so let’s go-

A lot of questions, I know. [33:39]

… through all those pieces. What is the Accelerated Access program? The Accelerated Access program is a deferred enrollment program here at Berkeley Haas. It is geared for people in their graduating year of undergraduate or graduate school if they did not have more than one full year of work experience in between. This is a pre-experience application focused on folks who are completing their academic journeys and who are committed to going to professional life for two to five years– that’s typically the window of time – for them to gain experience in the world, but to want to get that application admission early, right? This is the time when they’re the best test takers usually because they’re still in their academic space. Oftentimes, this is where they can lock in a future opportunity. Maybe that safety net allows them to take the other job.

I was going to take the two-year consulting stint, but I’ve locked in an admission to a top business school. I’m going to join the robotics startup. That’s not a random example. That’s an example of somebody who did in fact do that. That’s who this is for. It’s for somebody who is certain that business school is in their future, who is going to be strong academically.

I’ll put that out there in front. We have fewer application components, so we’re going to have to look for our competencies across the limited amount of things that you have to offer, so probably a heavier weight on undergraduate performance, standardized testing, internships, extracurricular activity within your experiences there. Those are going to be the pieces of the puzzle that are useful for us.

We are traveling the globe with a member of my team, Verse Gabrielle, who’s out there talking about accelerated access. We’ve gotten into a little consortium with a couple of other business schools so that we can make the most value in the delivery of this content so that we are in front of folks with a sampling, and they can pick which schools.

Of all the deferred programs? [35:35]

Yeah. It just started this year. I’m really excited to actually see what campus recruitment looks like for the MBA in this context. In terms of the other part of your question, what does it look like for those students who matriculated? We matriculated seven in this incoming class.

So that’s the first one. [35:52]

The first set coming through.

That makes sense just judging by, again, time that’s elapsed. [35:56]

Yeah. Two of them ended up in some profiles that we put out into the world so you can actually see some of the journeys for these students. We thought it would be really valuable, as we shared profiles with other media outlets, that we included people who had this type of journey, to see how it looked a little bit different and how they navigated the experience. I think that they complete and total fit with the program. They’re not outliers. They don’t sit outside the experience. In some cases, because they’ve been engaged with the admissions office and the school for three-plus years before they got to campus, they were fully onboarded by the time they got here. They were the best student ambassadors on day one.

It’s been a wonderful experience to be able to actually reach people at this different point in time in their lives. To be fair to those people who’ve been in the professional life, you’ve had a chance to test a couple of hypotheses, figure out what works, what doesn’t. These students, they kind of read as all potential. They blue sky a lot. I can do anything. I can do all these things. We watched them crystallize the idea over the two, three-year time before they get to campus. What a great journey for us in the admissions office to be able to watch them grow into the MBA candidate and then go from there.

How many students are you admitting every year through the accelerated MBA program? [37:14]

It’s going to vary based on application volume. Primarily, we want to be sure that we are giving an equal probability each year to candidates who apply and also being mindful of how we want to balance the class coming on the other end. It’s been somewhere around 20 in that window of space. Again, we’re a small program and we don’t want to overwhelm when students come through. They have different entry points.

You don’t really know what year they’re going to enter. [37:47]

Yeah, between two and five years, so there’s different entry points for those students depending on when they’re ready. We have a student who’s most certainly going to go to full five because they’re in the midst of building something really unique and then they’ll come join us. We get somebody who was ready after two and they really were ready after two. They had done what they needed to do to put themselves in the best position to succeed. In this particular case, it was in the food and agriculture sustainability side. It’s going to be unique to the individual.

Now, you’ve given tons of advice in the course of this interview, but what advice would you give to someone thinking about applying now? They want to matriculate in 2024. They’re probably in the middle of the process. They probably didn’t submit round one. They’re aiming for round two. What should they be doing? What should they be thinking about now as they listen to this podcast? [38:16]

Sure. I’ll put two things out there. The first is that they don’t over-invest in application elements and they focus on the whole story. This has been my message to the whole podcast, but I really do believe that if you hyper-focus on the tests or you hyper-focus on some other aspect of the application, you miss the opportunity to share a bit more about your whole journey. What’s the narrative? What are you hoping to accomplish? What community do you want to serve? What problem do you want to solve? These are the bigger questions that I really want to understand about the candidate.

The other thing is there’s members, myself, my admissions team, we’re all here to answer these questions. We’re here to support people in this journey, and we have a really robust community of student support, so not just for our program, but for any program. Reach out and see if you can connect with the students. I think that’s one of the most valuable things. It has two pieces. The first is they successfully navigated our application process, so they may have interesting things to say about what should be in a strong application.

The second is they’re actually experiencing the experience that you’re looking for. What does the student experience look like? What does on-campus life look like? Are faculty approachable? Are the things that you’re learning valuable for you? What type of speakers come to campus? How often are you getting to connect with industry outside of your campus community? All of those questions are questions that could be answered and, in particular, are set up with our student ambassadors is that they are the go-betweens. They are available if you want to ask them a question. If you want to ask something very specific like, “I’m really interested in understanding about how climate and finance interact, and I’m looking to talk to somebody specifically who understands that context in a certain part of the world,” we may have that pathway for you.

You can speak to somebody like Arno, one of our second year students who actually just spoke to a Belgian newspaper about his climate finance journey. These really unique pieces, they seem niche, but there may actually be somebody doing that, and so ask it. We may be able to put you in touch with exactly that right person.

Now let’s look a little bit further ahead. What advice would you give someone thinking ahead to a fall 2024 or fall 2025 application? They’re not part of the accelerated access program, but they do know that they want to go for an MBA and they’re thinking seriously about pursuing that MBA at Berkeley Haas. [40:47]

I think the first thing to do is to really crystallize why you want an MBA. Before you’re thinking about, “What do I need to do to get into an MBA program,” you’re going to want to have a really strong narrative for, “What I want to do when I come out of an MBA program.” What do I want to accomplish?

I know I’m repeating myself, but what do you want to see beyond that? It’s not just at grad, right? I will tell you that every stinking ranking and survey out there is going to focus on what does it look like at grad or three months past graduation. That’s not where the value of an MBA kicks in, right? I’m not going to throw rankings out there because I’ve been digging on them all day, but if you think about what are the frameworks for some of the strongest rankings, they’re around what does it look like four or five years out, not just compensation.

What is your position within the organization? What are you able to actually change about the world based on your level? That happens four or five years out. That’s the part of the story that we want to work back from, and then understand, okay, now I know what I want to achieve or I know what I want to engage with. I think I have a sense of what that journey’s going to look like post MBA. What do I need during the MBA to get there and then what do I need to get into an MBA program? What are the pieces there? If that’s a clear narrative all the way through, it just carries so much more weight. It has a lot more value. It has the value of being true and authentic to what the student wants to accomplish. Yes, there’s going to be a lot of work in putting together an application, but if you know your story, then it’s just about putting the pieces together.

Two comments, I frequently advise applicants that that post-MBA goal, and I’m usually talking about the immediate post-MBA goal, but I do agree completely that there should be a longer vision because the cost is high and the payoff has to justify it. I refer to that as the North Star. It should just guide you. It should guide you in the school you choose, the program you choose. Maybe it’s not an MBA. Maybe it’s a different program. The schools you choose to apply to, the schools you ultimately choose to attend, the courses you take, the things you get involved in.  Yes, it can evolve. Of course, it can evolve. My goodness, at 25, you don’t have to feel locked into a profession. That’d be true at  28, whatever, 30 even. You don’t have to be locked in.

That’s one point just in support of yours. The other point is I got my MBA and, for a variety of reasons, I don’t really think I started using it and really getting value out of it until 14, 15 years later. It’s just how my life worked. Now, I did not pursue the typical, the traditional MBA path, well, certainly not at that time, but I’m glad I got it. It just took a while for it to pay off for me. Anyway, just a couple of points there. 

What about reapplicants? Do you have any pearls of wisdom for reapplicants? [45:52]

Well, I’ll start with the fact that the data that we have suggests that reapplicants have a higher rate of admission than candidates who are applying in the first round out. Why is that? I think part of the reason is you’ve had a chance to really think about what are the strengths and where are my areas of growth and how I might focus on my areas of growth.

Now, because of the volume of applications we receive, we’re not able to give direct feedback to candidates who don’t get in in the first pass. What we are always able to do is engage with people who are applying this year, whether they can sign up to Q&A session. Most of this is available both in-person and virtually so that there’s an opportunity to connect with us no matter where you are within the globe. You can ask questions about the forward piece. You have the benefit of actually having a foundation that you can build on. Right?

Again, back to the idea that the magic happens in the editing. Like, okay, I’ve done it once. I know where I can tweak, where I can adjust, where I can change. The biggest miss is when reapplicants don’t tell us what they’ve been doing since the last application. You’ve got another year around the sun. What have you accomplished? Have you leveled up within your professional journey? I mean, sometimes the updated resume will tell us a little bit about that. Have you refined your goals? Have you explored more and different opportunities to test some hypotheses and rethink some of your journey?

These are all really valuable to us, and then of course, we should speak plainly. We’re also looking for evidence of your ability to do well in the program. If you think that that was the area of growth, the first submission, then other evidence. Now, you can’t go and change an undergraduate journey that’s typically fully baked by the time you apply, but you can take graded short courses. You can demonstrate other places where you’ve shown that you can succeed when it comes to the academic component of the application process.

Great advice. I think the saddest thing is when the reapplicant comes to me and says, “I know it was my GMAT score, so I retook the GMAT. I got a much higher score. My essays were great. I’m not going to change them at all.” That makes me sad. [46:13]

Yeah. There’s so much opportunity there.

Exactly, and like you said, I’m not joking, that does happen. I’m sure you sometimes see those applications. You’re showing little initiative. Yes, you studied before and you got your higher GMAT. Okay. Great. You’re not showing what you did in the past year. You’re not showing any growth whatsoever, and you are demonstrating a certain laziness and lack of commitment to the process, so don’t do it is the bottom line. [46:31]

I’m going to both agree with you and slightly disagree, Linda.

Okay. Go ahead. [47:01]

I will agree with you. I would love to see folks who are making those levels of commitment. I don’t always call it laziness. I think sometimes folks don’t have a full understanding of the process. I think folks who engage with you, they’re getting the benefit of their knowledge. Those who engage with us get the benefit of ours. Those who are operating out there independently, they may not know that they’re missing a great opportunity. Hopefully, those listening on this line, if you know somebody else who’s applying and doesn’t know this, share this message along.

Sounds good. I’ll be kinder next time. 

Okay. What would you have liked me to ask you? [47:30]

Sure. I think one of the challenges that we face here at Berkeley is that we’ve done really well in some spaces and, in some corners of the market we’re known for these one or two things. “Well, Berkeley is really great in the tech sector because, look at their access, a third of their students go into tech,” or, “Berkeley is really great in the entrepreneurial sector. According to PitchBook, there’s only three programs at the top, and it’s Stanford, Harvard and Berkeley,” or, “Berkeley’s really great in the sustainability space. No other school is doing five different sustainability topics,” but we’re also the second most placed students into consulting, the third most place students into finance. When it comes to our finance students, the number of students who end up in internships on the West Coast, we top all other schools in that space. We are a great school for a lot of different things.

When I was looking back and thinking about what are we going to talk about with 125 years worth of history here, the technology sector doesn’t go back 125 years. What’s been sustaining the school this entire time, what’s the common thread really is that we’ve been educating for the pace of change. The world keeps changing, and we want to make sure that people are prepared for that. That hits in all sectors, and so we would love for people to know that about the program, not to put us in a little corner, but if you’re interested in a topic and you didn’t think Berkeley was that, come find out. Maybe it is.

Eric, I want to thank you so much for joining me today. This has been delightful and highly informative. Where can listeners and potential applicants learn more about Haas’ full-time MBA program? [48:59]

Absolutely. The easiest thing to do is visit the Haas MBA website.. Come check us out. Once you land on that page, there’s a lot of resources that’ll put you in a lot of different places. I would encourage you to go to the events section because you’ll get an opportunity to see all the different places that we are in the globe as well as all the different things that we do virtually. No matter where you are in the world, you can get a connection to our community.

More great advice. Thank you. [49:37]

Relevant Links:

• UC Berkeley Haas MBA
• Accepted’s MBA ROI Calculator
• UC Berkeley Haas Expands Deferred MBA Program
• When Should I Plan to Apply to Grad School? NOW!!!

Relevant shows:

• From the Military to Haas MBA – podcast Episode 223
• University of Michigan’s Ross MBA Program: Everything You Need to Know – podcast Episode 479
• UCLA Anderson MBA Admissions According to Dean Alex Lawrence – podcast Episode 215

The post How to Get Accepted to UC Berkeley Haas Full-time MBA Program [Episode 547] appeared first on Accepted Admissions Blog.

[powerpress]

Are you looking for a highly respective quantitative program that will prepare you for a career in the most demanding, analytical, and data-driven areas of financial services? Today’s guest, Jacob Gallice, Executive Director of Berkeley Haas Master in Financial Engineering program, shares what it takes to get accepted to this highly competitive program. 

Welcome to the 540th episode of Admissions Straight Talk. Thanks for joining me. Before we dive into today’s interview, I want to mention a resource at Accepted that can help you prepare your statement of purpose to a Master in Financial Engineering program as well as the other graduate programs. Download 5 Fatal Flaws to Avoid in Your Grad School Statement of Purpose to learn how to avoid the five most common mistakes we see in grad school statements of purpose, as well as tips on how to write a statement of purpose that makes your story memorable and highlights your qualifications for your target graduate program.

Our guest today is Jacob Gallice, Executive Director at UC Berkeley’s Haas School of Business’ Master of Financial Engineering. Jacob earned his bachelor’s at Binghamton University and his MBA at NYU Stern. He has worked for Goldman Sachs and Heidrick & Struggles in the financial services world. In 2017, he pivoted to admissions as Associate Director and then Senior Associate Director of Admissions at NYU Stern before deciding he preferred west coast weather and moving to Berkeley in 2021, first as Program Director of the MFE, then he became Executive Director of the MFE in March 2023. 

So I can still, I think, congratulate you on your promotion, right? Still within 12 months. [1:56]

Sure. Thanks.

Congratulations, Jacob, and welcome to Admissions Straight Talk. [2:02]

Happy to be here.

Now let’s start with a really basic question. What is the Master in Financial Engineering program at Berkeley Haas, and what does it prepare one to do? [2:06]

Excellent question. A financial engineering degree is a specialized master’s degree here that prepares one to enter the field of quantitative finance and more largely, can prepare someone to enter the fields of financial technology, namely in roles such as data science, machine learning. But largely speaking, what we’re talking about here are individuals who are interested in the intersection of technology and finance and working within the ecosystem of what we kind of call the niche field of quant finance.

Can you provide an overview of both the full-time and the part-time options at the MFE program and roughly how many students participate in each of the programs? [2:48]

I can indeed. So we enroll about 80 students in our flagship full-time program. We’re one of the only programs out there in the market that is a one-year or 12-month program. So the program is intensive, it’s immersive, but it prepares students very well to enter and break into this field. So that is the one-year program. We can certainly get into that a little bit more in due course.

I contrast that with the part-time program, which gives students the flexibility to do their studies over a two- to three-year period, and it’s a much more small specialized cohort. Typically you’re looking at roughly 7 to 10 students in that cohort. It’s really designed for working professionals who are simply looking to augment their education, their studies, and apply that real world knowledge directly on the job. So we started that program a few years ago to sort of allow those students who otherwise did not feel it was necessary to leave their job, but still wanted to tap into the great education here at Berkeley Haas.

Do they basically have to be in the Bay Area for the part-time program? [3:59]

Actually they do not. No, we do allow students in that option to take their courses remotely if they so choose.

Is there an in-person component to the part-time program, and do both the online and offline students ever meet? [4:10]

The part-time is sort of what we kind of call a flexible first model. So students sort of have the option to do things in person. Of course they can come in person, they can be online, they can take components of it. So it’s sort of a choose your own adventure, if you will, on that side of things. And then of course, a lot of the information sessions, a lot of the lecture series, many things have continued to shift towards a digital first world as we figure our way out of this post-Covid era as you were. So a lot of our full-time students are also participating in things virtually. For that reason, the full-time and the part-time students do interact, whether it’s in person, whether it’s through their projects, whether it’s in classrooms. There’s a variety of different ways for them to interact.

I interviewed your predecessor in 2018. At the time she indicated that the MFE was going to focus more on data science. Today data science is much more prominent on the MFE website than it was five years ago. What’s the difference between a Master’s in Business Analytics or Data Science and the Master’s in Financial Engineering? [4:59]

Great questions. Business analytics is typically not even nearly as technical a degree as, let’s say, a financial engineering or a data science degree. So a business analytics degree would be the closer cousin of an MBA, let’s say, but gives students the opportunity to understand large data sets, obviously have an understanding of how to work in those roles, but they will not necessarily require the same sort of technical rigor that a financial engineering or a data science degree would.

Now data science, of course, is a large component of the financial engineering industry and ecosystem and having an understanding of data science and how to utilize big data sets is increasingly important for an aspiring quant finance professional, which is why we have continued to make that a part of our curriculum. And of course recently we’ve hired a fantastic new professor, a gentleman by the name of Professor Ali Kakhbod, who has taken over our deep learning courses, our data science courses here. So that’s been a great addition.

And then finally a data science program would be more industry agnostic. So someone who is pursuing that type of a degree might be interested in utilizing data science for healthcare or energy or another industry. So they might not necessarily have aspirations to work in finance per se.

So this is still very finance-oriented, obviously the financial engineering. [6:52]

Correct.

What distinguishes Haas’ MFE from other MFEs or more commonly, an MS in finance? [6:56]

Yeah, absolutely. I’ll answer the first part of the question first. I already alluded to one thing earlier, which is one of the only programs out there on the market, which is to say we are a 12-month program as opposed to the traditional 18 months. Now, of course, that has huge implications with respect to a student’s return on investment, less time out of the workforce, quicker time to get back into the workforce.

Lower opportunity cost. [7:28]

Lower opportunity cost, right. So it’s all about that ROI. What we also do here is we’re one of the only programs that’s at a business school. Of course, that means that you have the opportunity to network with MBA students. You have the opportunity to tap into a business school’s resources as opposed to being, let’s say, hidden within a math department or an engineering department. So you have that amazing networking opportunity to be amongst the business school.

Then I’ll mention also location. So right now, there is such innovation going on within this industry. If you look at what’s happening with respect to new advances in the fields of artificial intelligence, all of that is happening right here in Silicon Valley, right here in the San Francisco Bay area. So the proximity to learn from people and to tap into all of that great innovation right here at your fingertips.

Now your second question was, how does it compare to a finance program? And that comes back to what we were just discussing earlier about business analytics, which an MS in Finance is a very different degree. It is not necessarily going to need the statistics, the mathematics or the computer science skills that a financial engineering degree would, right? Someone who’s going into an MS in Finance degree might be going into more of a traditional investment banking role, i.e. mergers and acquisitions, capital markets, corporate finance.

Wealth management. [8:48]

Wealth management. Right, exactly. So that will not prepare one for the rigorous field of quantitative finance.

What kind of academic background are you looking for in applicants to MFE, either the part-time or the full-time programs? I assume it’s going to be quantitative, but I’ll let you answer the question. [8:57]

It certainly will be quant, right? We can’t say that enough. I would say that you’re looking at some core themes. Math and stats, right? Rigorous math and stats training. Economics and finance. What do you know about financial markets and economics? Computer science, namely computer languages such as Python, C++. I would say these are the technical areas. Any coursework in machine learning is going to be helpful. What we typically look for though is those applicants who can combine that technical aptitude with strong strategic thinking and great intuition. How do you actually apply those things to a business setting? So it’s those applicants that we want to see apply to our program. Those applicants that we see could be really difference makers within their organizations after they do this degree.

Is there a leadership component also to the degree or not really? [10:07]

We have added some-

Strategic thinking or something like that? [10:13]

Yeah. No, it’s a great question. So this comes back to maybe the business school comment, which is you have an opportunity to participate in a variety of different workshops. We have also developed new workshops here in the areas, namely of negotiation, communication skills, and public speaking. So that is where we have tried to supplement some of the great technical skills that our students have.

My husband is a retired actuary, and he got to a fairly high level in his field. His biggest complaint or the thing that he felt was most missing, and again it’s a very technical field, was the ability to see the big picture. [10:36]

It is a very common theme. Yes, absolutely. Those who tend to be very technical sometimes have struggles to get out of the weeds.

What kind of experience do you like to see in your students? I’m talking about work experience now specifically. Are you looking for early career applicants, mid-career applicants, older applicants, especially in the part-time program? [11:01]

Yeah, absolutely. So I would say on average we’re looking at about two years of prior work experience. Again, there is a range. We do have applicants directly from undergrad. We have applicants with about five years of experience. Certainly on the part-time program, it does skew a little bit more experienced. Again, just because that is more for individuals who are just looking to stay within their current career paths as it were.

As far as what we look for, well, the best kind of work experience is at least related to what it is that you want to do. So any work experience that’s related to quantitative finance will be favorably looked upon, whether that’s research, whether that’s trading, whether that’s working as a software developer, these are all the things that would be helpful. Of course, working at a large financial institution would also be helpful as well.

Do you ever get career changes? Let’s say somebody who was working as a consultant and now says, “I really want to dive deep. I like the quantitative stuff.” [11:57]

Certainly we have seen… I would say that they have to be extremely committed given the niche nature of this field and given how technical you need to be, but supposing someone was working as a consultant, as a data scientist, then certainly that could be sort of a step in the direction here to make that kind of a change.

Can you describe the application process for the MFE? [12:27]

Yeah, absolutely. Very straightforward. We are going to be taking a look at a variety of different criteria. So we take a look at your standardized test scores. We’re going to take a look at your prior academics. How did you do in undergraduate? How did you do in any prior grad school? I will note that many of our applicants do already have existing graduate degrees. Again, not a requirement though. We’re going to be taking a look at your essays. We’re going to be taking a look at your prior work experience, which we just spoke about. Any internship experience. We’ll be taking a look at your letters of recommendation.

And then effectively what happens is we take a look at that completed application, and then there’s a round two, again, very different part of our process compared to some of our peer schools. Round two would be an alumni interview. We think it’s a very important part of our process. You would be asked to answer questions in all of the relevant areas, namely math, statistics, computer science, finance, to sort of simulate what it would be like to be in a job interview. We do that to make sure that you can be successful in this highly competitive field.

And in terms of the academics, can you just go into that a little bit more? [13:34]

Absolutely. So we’re looking for… Typically we like to see someone who has studied some kind of STEM background at the undergraduate level, math, stats, computer science, mechanical engineering. These are the kinds of things that we would look for. If you studied finance and economics, it’s not to say that we would not look at you, but how have you developed your math, stats, and computer science skills outside of your prior studies then, right? Have you taken CFA Level I? Have you learned it on the job? Have you taken online courses? Right? Because again, you will need those to be successful in this program. So that’s what we’re looking for in the academics. Have you taken the critical mass of coursework and studied discipline that’s relevant for this field?

And I assume done well in the courses? [14:22]

Doing well in the courses is also looked favorably upon for sure.

I noticed in preparing for the call, and you mentioned just a second ago that a lot of your students have graduate degrees, and I saw that it was roughly one third of the class has either a master’s or a PhD. While, it’s understood that graduate study is not required. Do you like it? I mean, is it something that helps? I would assume it helps people demonstrate the quantitative skills that you’re looking for, the computer skills that you’re looking for? [14:29]

We certainly do like it, right? We do think that it’s looked favorably upon, right? Because again, it shows that you have continued to demonstrate academic proficiency or gone deeper in a certain area. So if you already have a graduate degree in statistics, certainly that will serve you well for a program like this. So again, not a requirement, but certainly something that our admissions committee does take a look at.

It can also help with a little undergraduate grade repair, I assume. I’m going to guess that sometimes plays a role. 

Are you planning to change the essay questions or have you changed essay questions this year and when will the applicants get them? [15:17]

Sure. So once you start an application, you will see the process. So you’ll get a sense of the essay questions. Largely, they are going to be pretty straightforward. They’re going to be around why are you deciding to apply for the program and what sort of path within this field would you like to pursue? We like to get a sense as to your understanding to making sure that you understand the field, to making sure that you understand that your goals are in line with your experience.This is sort of the question there that we’re looking at. There’s an opportunity for students to talk about any sort of issues that they faced prior with respect to their academics in case there was maybe a story or something like that that they’d like to share with the admissions committee. We’re going to have a question here about what do you think your strengths and weaknesses are? That is pretty straightforward.

Then we do have a video essay question as well. And this comes back to what we were talking about earlier, which is the most common thing that we see is extremely strong technical proficiency. But where we see our students sometimes lacking is, again, in those communication skills. The video essay is  – little secret here: It’s less about what you say, and it’s more about how you say it. We want to see how you’re communicating. We want to see the little things. How are you speaking? What’s the tone of your voice? How are you enunciating your speech? Again, these are all critical factors to being successful in today’s highly competitive labor market.

The real question here really is to get a sense for your baseline communication skills. What we will sometimes see is that it’s very clear that someone is reading a piece of paper. So if they’re reading a piece of paper, that’s an indication to us that, hey, you’re not necessarily going to have the ability to think on your feet. You’re not going to necessarily have the ability to impress a portfolio manager if they are asking you a question you don’t know the answer to. We want you to take that question very seriously.

More about poise and presence? [17:30]

Absolutely.

Are you concerned at all about the impact of ChatGPT on the essays and the application process? [17:34]

Concerned, I don’t know if it is the operative word there. I think this is the new reality in which we are all sort of living in. It’s obviously quite easy to use a tool like that to have it write your essays, as it were. It’s pretty obvious to someone when they’re reading that to see if it was done by a computer, or if it was done by a human. So again, don’t try to outsmart the admissions committee here. They’re going to know very quickly that it was written by ChatGPT.

But what I’ll say more broadly is these are new tools that people have at their disposal. So you need to be able to… The bar is now higher. You now need to be able to ask the right questions, put in the right prompts, recognizing that the answers are going to be very easy to get to. Right? Again, I’m not talking about our essay questions right now. I’m just talking about more sort of high level. The bar has been lifted, and it’s now going to be about asking the right questions. Again, that comes back to strategic thinking,

In terms of asking the right questions, you also have to check that ChatGPT is giving you the right answers. [18:44]

Yeah. Absolutely.

It doesn’t always do that. The other risk is that if you try and get it to think for you, you might get something that’s very generic. [18:52]

Absolutely.

And plus, you have the video essay to confirm somebody’s communication skills, and if the video essay and the writing sample are completely disconnected, it’s not going to be good. [19:03]

It would not. No.

What can an interviewee expect if lucky enough to be invited to interview? [19:17]

Treat that interview the same way you would a professional job interview. Right? It will be conducted with one of our alumni. They will ask a series of questions, technical questions in some of the relevant areas, which I won’t repeat. They will ask questions about your resume. They will be given your resume. You need to be able to talk about those projects. You need to be able to talk about past internships. Treat it as you would a job interview. And again, they will also be getting a sense for your communication skills vis-a-vis that interview.

Do they have access to the other parts of the application or just the resume? [19:50]

Typically we would just have access to the CV.

Now, you mentioned the kind of jobs that MFE graduates are getting, but how does Berkeley Haas help them find those jobs? I assume some of the jobs are back east. They’re not all going to be on the west coast. [19:56]

Yeah. Actually a higher percentage of students end up back in the east than they do here in San Francisco, just given the number of finance jobs out in the east in New York, Boston, in those areas. So a lot of our students are out there in the market now. Because we run a one year program, we are running an idiosyncratic internship program. What does that mean? That means we don’t plug into the traditional summer internship. That means the program office here, myself and my staff, are sourcing bespoke opportunities for our students. That means they are not competing on the open market for a lot of those internships. It’s a huge differentiator, huge benefit to those students who like that model where rather than applying to, let’s say JP Morgan’s summer internship where you’ll be competing against every other student out there, thousands and thousands of applicants, we’re running an off-cycle internship.

So you’re basically given that opportunity to interview for bespoke opportunities on this off-cycle internship. These are posted directly on our job board, only available to our students, so it’s much less demand for those jobs. Then students are doing those internships. A certain number of students are converting those internships into full-time jobs while others will continue to recruit on the open market, as it were, for a variety of other different opportunities.

That is interesting. So is it January to March or something like that? January, February? [21:34]

Great question. This is what I spend most of my time doing is explaining this to employers. We run an internship cycle from October to January every year.

All right. [21:44]

October to January every year. Yep.

I can see that really being an advantage. Yeah. A tremendous advantage. 

Now this interview is scheduled to air on September 26th. Your final deadline is October 5th, but the site says that applications will be accepted October 20th at I think 2:59 Eastern time or midnight, 11:59 Pacific time.

All this leads me to have two questions. One, do you really accept people this late in the application cycle? Because usually seats are given out earlier. That’s number one. And number two, most listeners to this show will be applying for the cohort starting classes in spring 2025. In other words, applying the following year. And what advice do you have for them? So it’s two different classes really that we’re talking about in these questions. [21:46]

Okay. Do we accept people after October 5th? Yes, we do.

How about just prior to October 5th also? [22:40]

And just prior to October 5th as well, right. So yes. I think that we are a rolling basis, but again, quality over speed, right? If there is a quality applicant that decides to apply late, we will absolutely have a spot for them in this program. We want to get the very best and brightest students. We do accept late applicants to this program.

Second question is what advice do I have? Prepare, prepare, prepare. Do not be the individual who is fortunate enough to get into this program or another amazing opportunity to study at grad school and then three months in or even a month in, frankly, start figuring things out. You need to do that preparation early. I’m not just talking about the technical preparation. I’m talking about trying to figure out what direction you want to go in.

We all recognize that grad school in and of itself is a time to do that kind of exploration. But again, because of the rapid nature of this program, you have to have at least a good sense of what you want to do to optimize your time here. Too often I would see a student come to me, let’s say a month before the internship starts and say, “Well, I all of a sudden want to do this, or I think I want to do that,” and by that time it’s too late. So prepare, prepare, prepare, and you would need to make sure you’re prepared in the technical areas. Make sure you have an understanding of the different areas within this field. That would be my biggest advice to you.

That’s great advice. I think one of the biggest differences between graduate school in general and undergraduate is when you start your college years, your undergraduate education, nobody expects you to know what you want to do. [24:09]

Sure.

You just go to college. I think when you go to graduate school, you have to have a goal. Otherwise you might be spending a lot of time and money on an education that you don’t want or won’t use. So I think the” prepare, prepare, prepare” is outstanding advice. [24:21]

Listen, I’ll be the first to say, right? Some of the most interesting 50-year-olds I know don’t know what they want to do with their lives. But again, you need to be able to at least have a good understanding and sort of what we say, “Fake it until you make it.” So I think do that preparation. Life can always change. You can always make pivots, but you want to have the confidence in yourself to know the direction that you’d like to take.

And in terms of other preparation, I guess it would be making sure that you have the academic background that you’re looking for, right? [24:54]

Absolutely.

What question would you have liked me to ask? What question would you like to answer that I haven’t asked? [25:02]

Well, I would say that one of the things that maybe we could get into here is just maybe a little bit more specifics of: I’ve just said to prepare. Well, that begs the next question, which is how?

So I think that what we do, and I’m happy to share some links here with this audience afterwards.

That’d be great. [25:26]

We have https://haas.berkeley.edu/current-mfe-students/requirements-conditions/ You need more work in math. We have some courses we recommend you take. You need more work in computer science. We have a list of courses that you can take to further prepare, right? Another thing that you can do, take the CFA Level 1, right? Great exam to get you prepared in some of the core foundational areas of finance. Other things, participate in competitions. You just can’t get yourself an internship. You’re not making it. There’s so many free ways now that are open to anyone and anyone. The opportunity is out there. You just need to go out and grab it. So I think just in terms of, okay, yes, you need to prepare. How? That’s how. Right? Go and do that.

I love that link. [26:09]

Yeah. Absolutely.

If you send the link, I’ll post it in the show notes for sure. [26:12]

I can do that.

That was a great answer. I’m so glad you asked that question.

Jacob, I want to thank you very much for joining me today. I’ve really enjoyed learning more about Berkeley Haas’ MFE program. Where can the listeners learn more about the MFE program? [26:15]

Yeah. Absolutely. And I will again share these, but I’ll just read the link out here. If you would like to learn more about our program, go to our website. All of those links will be shared with you in the show notes. Our website is a wealth of knowledge. I have yet to see a question that cannot be answered on our website, so please go ahead and take a look at that website. We’ve got student testimonials, alumni testimonials, our student blog, employment reports, including a full list of employers that have hired our students for both internships and full-time jobs. So just a great resource there for people who are interested in this program.

I agree. It is a great resource. So thank you again, Jacob. [27:06]

Relevant Links:

• Berkeley Haas Master of Financial Engineering Program
• 5 Fatal Flaws to Avoid in Your Grad School Statement of Purpose – a free guide
• Prerequisite courses for Haas MFE program

Related shows:

• Admissions Directors Reveal the Most Common Mistakes Applicants Make – podcast Episode 538 
• What You Need to Know to Ace the GMAT (and the new GMAT Focus!) – podcast episode 534
• All You Need to Know About the New, Shorter GRE – podcast episode 531
• What’s New at Cornell’s Masters in Engineering Management – podcast Episode 516  
• CMU Tepper’s MS in Business Analytics: All You Need to Know – podcast Episode 510 

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The post How to Get Accepted to Berkeley Haas’ Master of Financial Engineering Program [Episode 540] appeared first on Accepted Admissions Blog.

Our consultants receive a lot of questions from clients about applying to MBA programs through The Consortium for Graduate Study in Management. I’ve heard myths that suggest that applying to one (or more) of the 22 Consortium schools through The Consortium’s application is disadvantageous. But as the former director at two Consortium schools, I can assure you that nothing could be further from the truth — provided you meet The Consortium’s minimum qualifications.

Though the requirements, participating schools, and corporate partners have changed over The Consortium’s 57-year history, not only is the organization the best deal in town but it also gives its members an alumni network that extends throughout the 22 member schools.

The Consortium history and mission

Initially, The Consortium provided opportunities for young African-American men to have a fair chance at rising up the corporate ladder via the MBA. Later, The Consortium added Hispanic Americans, Native Americans, and women to its mix. Membership came along with the fellowship.

However, after the Supreme Court decided the Gratz v. Bollinger and Grutter v. Bollinger cases, The Consortium opened its doors to offer membership to selected applicants that further The Consortium’s mission to promote the “inclusion in global business education and leadership . . . of African Americans, Hispanic Americans and Native Americans.” Members do not need to belong to one of these groups but must demonstrate the mission through community and professional action and impact. Thus, membership is no longer race based but rather mission driven. Applicants must also demonstrate the ability to succeed in a Consortium member school’s MBA program.

Consortium member benefits

Like the undergraduate Common App, candidates can apply to up to six schools with only one application for a fraction of the cost that the candidate would incur by applying to each school separately. The Consortium membership grants the candidate access to the orientation and corporate partners. Many members receive internship offers before the start of school.

To summarize the benefits:

1. Applicants can use a single application for up to six schools at one low cost.
   
2. Members gain access to a vast alumni network of 22 schools, including mentorship from among the approximately 9,000 Consortium alumni (formal or informal).
   
3. Students gain access to corporate sponsors at orientation if selected as a member.
   
4. If selected as a fellow, students receive full tuition and a stipend.

READ: The Consortium Application: Tips for Your CGSM Essays >>

Consortium member schools

* School’s class profile presents a score/GPA range rather than an average.

To learn more about applying through The Consortium, please contact me for a consultation.

By Natalie Grinblatt, the former admissions dean/director at three top business schools. Natalie has reviewed more than 70,000 applications, interviewed more than 2,500 candidates, and trained nearly 700 admissions directors and alumni volunteers to select outstanding candidates for admission. Her clients gain admission to top programs, including those at Harvard, Stanford, Wharton, MIT, Cornell, Columbia, Berkeley, Chicago, Northwestern, and NYU. Natalie holds an MBA from Michigan Ross. Want Natalie to help you get Accepted? Click here to get in touch!

Related Resources:

• Top MBA Application Essay Questions: How to Answer Them Right
• The Consortium Application: Tips for Your CGSM Essays [2022 – 2023]
• What the Consortium for Graduate Study in Management Can Do for MBA Applicants – podcast episode 395

Can the Consortium Help You Get Accepted and Fund Your MBA? [Episode 532]

[powerpress]

In this episode, the Director of Recruiting at CGSM details the benefits – and opportunities! – available to Consortium members, what it takes to become a member, and why applying in Round One may not always be an applicant’s best strategy.  [SHOW SUMMARY]

There’s an organization that can help U.S. citizens and permanent residents get accepted to top MBA programs, fund their MBA, and even provide career support post-MBA – provided the applicants support the organization’s mission. Let’s learn all about it from the Consortium for the Graduate Study of Management’s (CGSM) Director of Recruiting.

An interview with Bianca Keys, director of recruiting at the Consortium for the Graduate Study of Management. [Show Notes]

Welcome to the 532nd episode of Admissions Straight Talk. Thanks for joining me. 

Sometimes I’m asked, is the MBA worth it? And my answer is, it depends on your individual circumstances. But I’ve got good news. We’ve developed a tool that will help you evaluate whether an MBA is worth it for you and your individual circumstances and by how much. Just go to accepted.com/mbaroi and check how much you’re likely to benefit, or not, from earning an MBA. And using it won’t set you back even one cent, it’s free. 

I’m delighted for the first time on Admissions Straight Talk to talk with Bianca Keys, Director of Recruiting at the Consortium for Graduate Study in Management. Bianca earned her bachelor’s degree from Lindenwood University and her master’s in Business Management and Leadership from Webster University. She has worked in enrollment management, DEI training, and admissions in different capacities since 2008. She became CGSM’s Director of Recruiting in September 2022. 

Bianca, welcome to Admissions Straight Talk. [1:53]

Thank you. Thank you for having me.

I’m delighted to do so. Now let’s start with something really, really basic. What is the Consortium? [1:59]

All right. So, the Consortium, we are pretty much an alliance of top graduate business programs and also top corporate partners, and we’re supported by alumni and students. We were founded in 1966 by Washington University’s professor, Sterling Schoen. And his one driven mission was actually inspired by him noticing a lack of African American men in leadership in American corporations.

So, with the partnerships of some corporate partners and some founding schools, they were able to pretty much create this alliance to give African American men the business skills to be able to secure positions in American corporations. So, now we’ve grown.

And I assume it’s no longer limited to African American men. It’s now African American men and women, right? [2:59]

Yes, men and women. And our target pops are African American men, Native American and Hispanic American, but our applications are open to all.

How does one become a CGSM member? [3:16]

In order to become a member, you would have to, of course, apply. And three of our requirements are that you must be a U.S. citizen or U.S. permanent resident of any race or ethnicity, you must demonstrate a commitment to our Consortium’s mission, and hold a four-year bachelor’s degree from an accredited college or university in the U.S. or equivalent. So, to be approved for Consortium membership, an applicant must demonstrate the commitment through their resume, our essay, and their letter of recommendation.

I have in front of me your mission, so I’m just going to read it off. “The mission of the Consortium for Graduate Study in Management, an alliance of leading American business schools and some of our country’s top corporations, is to enhance diversity in business education and leadership by helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in both the member schools’ enrollments and the ranks of management.” 

So, again, there’s no racial requirement in terms of membership as long as you support and identify with and support and have supported that mission in the past. [3:59]

Yeah.

All right. So, one of CGSM’S benefits is the ability to apply through CGSM and pay one application fee, and I think it goes to a maximum of six schools, correct? [4:33]

There’s no max anymore.

There’s no max anymore, ooh! [4:44]

So, two things, two updates. We’ve removed rankings. So, there are no rankings, and you can apply to as many member schools as you would like. So, from one to two schools is $150, up to six schools which is $300, but each additional program is $25. Yeah, so they can apply…

And so, in the past with our ranking system, the top ranking school, they were the only school that was able to offer a fellowship opportunity. And now if you applied to all six schools or more, they have the opportunity to offer you… they each have an opportunity to offer you a fellowship. And we empower the student to be able to make the better choice of what school best fits them.

Wow, that’s a big change. When did this change take place, like last year? [5:38]

This last application.

Last cycle. Should’ve interviewed you then. No, I’m teasing. That’s great news. I somehow missed that announcement. Okay, good to know. Good to know. So, there’s no more ranking and there’s no more maximum, and multiple schools could offer a fellowship. [5:43]

Yes.

Now you apply for membership at the same time that you submit your application, correct? [6:00]

Yes. It’s a one stop shop,

It’s a one-stop deal, one application. So, it is possible to use the CGSM application process and ultimately not be approved for CGSM membership, is that correct? [6:09]

Yes, that is possible. But the application is still considered an application, so you won’t get rejected from the member school just because you didn’t get membership. They still go through their standard process of admissions. And a lot of times they’ll offer you other fellowship opportunities or scholarship opportunities that they may have available at the schools.

And the schools don’t even see your decision in terms of CGSM membership. They don’t see the membership essay, correct, the membership application essay? [6:46]

They don’t see any of the membership application essays or letters of recommendation. All they see is the decision once we’ve made it.

Now I saw on your website that Stanford partnered with CGSM last year and became the 22nd school to become a partner school. Have any other schools partnered since then? [7:02]

Yes, I’m excited to say that…

Well, you got lots of news today. [7:17]

Yeah, I do. I do. Northwestern Kellogg School of Management, they are our newest, our 23rd school, which we are so excited to have them. They will begin July 1st, actually, and they will be on our application this upcoming cycle. And this upcoming cycle is for students fall 2024, that will begin fall 2024.

What is the benefit of applying through CGSM as opposed to just using the school’s portal? Portals, I should say. [7:45]

We, one, save you money. An average application for any grad program can be up to about $300 for one application, where six applications is $300 applying through us. So, it’s definitely a win for the students. Whether they get membership or not, it’s saving them money and they are allowed to go by our application deadlines as well. So, if maybe Columbia or one of the schools, maybe their application deadline may be September 15th, they still would recognize the application on our deadline, which our Round One is October 15th.

And I believe it’s also easier to apply. Aren’t there fewer essays required or is it pretty much the same at this point? [8:50]

Right, so it is the core essay which asks the applicants to discuss their MBA goals, and then there’s a second core essay that the applicants are able to detail any additional information that they may want to add that they weren’t able to explain in the application.

Right. And is there typically a supplemental per school essay, or do the schools ask for their own essays in addition to the Consortium essay? [9:20]

Sometimes they ask for their own supplementals that are added in addition. We are going through that process of application updates as we speak.

But it’s not all schools that do that? [9:38]

No, no. No, no.

Usually the student has the mission essay and then the two GMAC format essays.

Are you worried about CGSM’s applicants using ChatGPT and preparing their essays? [9:51]

Oh, the ChatGPT.

You got it. I’m asking everybody this question. [10:03]

And that’s a good question. So, with it being such a newer phenomenon right now, I just want applicants and students to be mindful that there are advantages and disadvantages to using ChatGPT, because what we’re looking for is consistency in their demonstrated commitment to the mission. And I doubt it if they’ll be able to convey that in an interview based off of a ChatGPT essay.

So, a lot of the admissions advisors and committees, they’re looking for authenticity. They’re looking for unique perspectives and their applicant’s ability to be able to express themselves. So, I don’t know if they can… It probably is a good tool to help guide them in forming their essay, but I don’t think it should be something that can express exactly your commitment.

I’ve played with it a little bit, and sometimes there are outright errors in it. It’s wrong. [11:09]

Right, right.

And other times it’s just very generic, and it has to be generic. You’re not going to get a lot of authenticity. But it does sometimes help. [11:17]

Yeah, yeah.

But to rely on it blindly I think is a big mistake. [11:28]

Yeah. Yeah. Especially if you don’t check.

Absolutely. Absolutely. [11:35]

Attention to detail.

Are there other elements to the CGSM application? We discussed you pay a fee. You have the core essays. You might have supplemental essays. Are there short answer essays or anything like that or is it pretty straightforward? [11:40]

Yeah, it’s pretty straightforward. If the school has any changes or supplements to each essay, that may be the different shift or change. But pretty much transcripts, resume. We always advise students to make sure that your experience, if you’re a part of organizations like Forte or MLT, Big Brothers Big Sisters, Teach for America, making sure that that’s actually on your resume. That definitely helps. Your test scores, GRE, GMAT or Executive assessment, letters of recommendation. One for the mission, and then there are two for the schools. Yes. And making sure you get the right recommender.

What makes a right recommender? [12:41]

Someone who can explicitly… Especially for the Consortium mission letter of recommendation, somebody who can explicitly pretty much show your demonstrated commitment to our mission and they know about that.

They’ve observed it. [13:01]

Yeah, they’ve observed it, and they can actually speak to it. And they’re not saying, “Well, I don’t know about their demonstrated commitment, but Jane is a great person and we love her personality. She’s very professional.” It’s like, what?

That’s not the question. [13:17]

So, definitely communicate with your recommender about expectations. And with us, it doesn’t have to be your supervisor with the Consortium mission letter of recommendation. It can be as long as it’s not a family member. It could be anyone who can speak to it.

That you’ve somehow supported that mission. Makes sense [13:40.

Yes.

What are the non-admissions benefits of being a CGSM member or fellow, and what is the difference between being a CGSM member and fellow? So, there’s really two questions there. Why don’t we start with the non-admissions benefits of membership, and then we’ll get to the difference between being a member and a fellow. [13:46]

So, the non-admission benefits are pretty much the early access to corporate partners. A lot of our students, we just had OP, our orientation program this past June, and it was amazing. It was amazing.

I know you’re working very hard on it. [14:20]

Yeah. Oh man, it was definitely a job, but it’s worth it. And just to see all of the students that we worked with from the beginning up until that point, from all their stress points, their pain points, to see them, they made it, and they’re at the orientation program. So, them having early access to our corporate partners.

They also have access to our system that is… We have a platform that is called Hello Fellow that allows them to join different groups that are industry groups. And our corporate partners have access to them as well, and they’re able to apply to positions that are open to those corporate partners.

Also, at our orientation program, we had a corporate open house that’s not like your traditional job fair. All of our corporate partners actually already had our students’ resumes, they already had a student look book, they’ve already seen the students and they already know the students prior to them even coming to the expo.

So, they definitely have a great advantage by being a Consortium fellow. And then the camaraderie, the support that they have with each other, there’s nothing like it. I love how each campus had… they call themselves CFAM.

Campus family, yeah. [15:53]

Yes. Each campus, each Consortium cohort on each campus, they’re so close. A lot of our alumni mention that the connection, that’s like a trending thing with us here at the Consortium is connection. Being able to connect students with not only each other, but also with our corporate partners and with our top MBA programs.

So, they have lifelong connections with all three of those different entities, and they enjoy being able to talk with someone who understands them, someone who may be going through the same even issues at their jobs or anything like that, and that connection. And if there’s a job loss or anything like that, we do provide the support to help those students to be able to reconnect with corporate partners and find another opportunity.

So, just to clarify, the orientation program is open to all Consortium members, not just fellows, correct? [16:54]

So, Consortium fellows, you’re applying for membership, but the membership allows you to become a Consortium fellow. So, whether you received a fellowship or not, you are considered a Consortium fellow.

So, you’re a Consortium fellow whether you get a scholarship or not? [17:16]

Right.

Got it. And all the fellows/members can go to the orientation program. How long is the orientation program? [17:26]

So, it’s a four-day conference, and it consists of a lot of hands-on career development. We have diversity theater, which is amazing. A lot of our corporate partners, they have private interviews with a lot of the students. So, a big portion of our students leave with internships or career opportunities.

For next year, for next summer, or for this summer? For next summer? [17:56]

Yes. For this upcoming year –

For summer 2024, let’s say? [18:03]

Yes.

And what is diversity theater? [18:06]

Oh my goodness, diversity theater. This was actually my first year to experience it. Hearing it from other coworkers and staff was not the same as experiencing and seeing those difficult conversations displayed on stage.

So, there’s actors that are on stage, and they may act out a scene where some coworkers that may deal with microaggressions or different challenges that you may face at work and how to address that, and just having those conversations amongst your peers. And it really was eye opening for not only the students, but for staff, for a lot of our corporate partners and admissions representatives as well. So, it was pretty amazing, and we have it annually as well.

And it seems like the orientation program is very much career oriented. Is there any prep for the actual study of the MBA, or is that assumed that the schools will handle that? [19:09]

So, the schools, the admissions representatives and career services representatives are present. So, they do have an advising session that they get to work with them and meet with them one-on-one for prep with the corporate partners, but also any questions that they have about the upcoming program that they’re about to start in the fall. They have all of that one-on-one time, a lot more one-on-one time than they would normally get during the school year.

Sounds like a very busy four days, very full. [19:54]

Yeah, it is very full.

Okay. How does CGSM help its fellows in career placement, both during and after the MBA? [20:00]

So, during the MBA, again, we have the Hello Fellow and our annual program, our annual orientation program and career forum. Like I mentioned before, they have the opportunity to interact with the corporate partners. The corporate partners get to review their resumes and their backgrounds early on before even meeting them face-to-face. Our alumni network, our Hello Fellow system, allows them to, again, engage with these corporate partners.

And then our student and alumni relations department, they are amazing with connecting with the students. They engage with student liaisons as well in providing that support that they may need throughout the year. And if there’s a student, like we just had tech layoffs recently. And our alumni development department, they were able to help and assist with reengaging with those students or those alumni to be able to help them to get placed in other career opportunities.

A few weeks ago you had the OP. It was mostly geared towards people starting the MBA in 2023, but it also had people who started the MBA in 2022. Is that correct? [21:18]

We had some second year. Like if something happened last year, I know dealing with the pandemic and other issues, some students were not able to attend last year, and so they were given the opportunity to attend this year.

But it’s usually just for the people about to start the MBA, the OP? [21:48]

Right, it’s usually first year students.

What do you see coming down the pike for the Consortium? [21:54]

Oh my goodness. Continued growth, continued engagement with a lot of the students. We’re working on increasing our exposure and engaging. This year we shared a lot of our OP activities on our social media and got a lot of good feedback and engagement. So, definitely I think we have a good momentum right now to be able to get all of the good things that we do at the Consortium out to the public and to the world.

What advice would you give to someone applying to apply via the Consortium in this, the 2023-2024 application cycle? [22:34]

Definitely begin your MBA journey. And beginning your MBA journey does not start with the application. It starts with the preparation.

Yes, that’s right. [23:13]

Definitely starts with the preparation. So, researching a lot of the schools that you’re interested in, finding out if you’re interested in the Consortium, finding out what that Consortium culture looks like on each campus to see what best fits you. Also, looking into preparation for GRE, GMAT, or the Executive Assessment and finding out what the class profiles are for each school that you’re interested in so you can have a good idea of where you stand. And don’t rush your application. Don’t rush it.

Yay! [23:54]

I always have some overzealous students that want to, “I’m getting it in for Round One.” Wait a minute. Make sure that you’re submitting the strongest application and that this is the right time for you to start a program. There’s no rush. There’s no rush. There’s no rush. Make sure you have the strongest application. Utilize all resources that you need to support you through your application process.

We always advise students to attend our events. We have member school webinars that are… We actually have one coming up on July 10th, which will have Washington University, University of Rochester Simon, and UCLA Anderson. And they will be talking about their MBA programs, but also talking about their Consortium cohorts on their campus as well.

And we also have our MBA application preparation seminars, which is MAPS, which will be in person this year. So, we will be in New York, Philadelphia, Chicago, Los Angeles, San Francisco, Houston, and DC.

Wow. You’re getting around. [25:16]

Yes.

Not all Consortium schools require a test score. Does the Consortium require a test score even if the school does not? [25:21]

So, for membership we don’t require a test score. But if you are applying and they offer a test waiver, we would need to have that test waiver submitted, or you would need to submit that in the application. And then we just confirm it with the member school whether that test waiver was actually approved. Yeah. And then if it wasn’t approved, then they would have to submit a test score.

Are any of the programs or any of the partner schools entirely test optional? Do you know off the top of your head? I wasn’t sure as I was thinking about it. [26:03]

I don’t think so. Well, it depends on the school and what policies they have in place this upcoming school year.

I think most of them have a test waiver option, and I also would have to go through each one. [26:19]

Yeah. I always advise students to talk with them early about it, because last year I ran into the issue of students who just missed it. It was like they just missed the test waiver window. So, definitely talk with your school of interest to find out when that test waiver timeframe is and get that in if that’s an option for you.

Wonderful advice even if you’re not applying through CGSM, by the way. [26:51]

Right, absolutely.

What would you have liked me to ask you? [26:56]

These were all great questions.

What would you like to share that I haven’t asked? [27:02]

I would like to share just my… In my position as Director of Recruiting, what my passion and desire and vision is for the Consortium moving forward is to be able to expand our exposure to those who definitely need the opportunity, to be able to expand our exposure to those areas, because sometimes we are in this collegiate bubble.

Aacademia. [27:37]

Yeah, absolutely. And to be able to… We do so many great things.

You do. [27:45]

And just being able to see just the energy that I get from the students, just being around them, and just the positive nature of it all, being able to give that to others who don’t know about the Consortium. So, that’s my mission and goal is to increase exposure and to really share about the great things we’re doing here at the Consortium.

Well, today in this podcast, you did it. [28:14]

Thank you. Thank you, Linda.

You’re very welcome. Bianca, I want to thank you so much for joining me today. Where can listeners and potential applicants learn more about CGSM? [28:21]

They can check us online at www.cgsm.org or on our LinkedIn page and our Instagram page and on Twitter.

Relevant Links:

• The Consortium for the Graduate Study of Management
• Applying For Your MBA Through The Consortium: Best Deal In Town
• MBA ROI Calculator   

Relevant shows:

• How to Get an MBA at Columbia Business School – a podcast Episode 528
• How to Get Accepted to NYU Stern – a podcast Episode 525
• How to Get into Dartmouth Tuck – a podcast Episode 514
• How to Get Into Georgetown McDonough’s MBA Program – a podcast Episode 512
• How to Get Accepted to UNC Kenan-Flagler Full-Time MBA Program – a podcast Episode 496

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The post Applying for Your MBA Through The Consortium [Episode 532] appeared first on Accepted Admissions Blog.

U.S. STEM MBA Programs: An Overview

STEM certification programs have proven application bonanzas for top business schools. STEM certification may have begun pre-pandemic as a way to alleviate uncertainty in the visa process, but the programs have proven to be a robust inducement for MBA applicants, particularly from foreign countries. According to Poets & Quants, “At Cornell University’s Johnson Graduate School of Management, the move to designate its entire MBA program STEM in early 2021 paid dividends this year. . . Its applications rose by an incredible 21%, an increase of 450 to 2,555, even though Cornell presumably felt the same domestic squeeze as its peer schools.”

[List of top STEM OPT U.S. Business Schools >>]

Cornell’s new MBA class has students from 43 countries, a dramatic rise from 30 countries from 2021. Cornell is receiving roughly double the number of international applications as domestic applications. Poets & Quants also reported strong upticks in foreign student enrollment among 27 B-schools surveyed: “In the top 10, the average gain was 10.2 percentage points, or 36.6%, with Dartmouth College Tuck School of Business the biggest by points — 18, or 72%, to 43% — and the Wharton School at the University of Pennsylvania the biggest by percentage: 84.2%, or 16 points, to 35%.

“Across all 27 schools, the average gain from 2020 to 2022 was 14.6 percentage points, or 69%. The biggest gain was at CMU Tepper, which doubled its total from 28% to 56%; notably, UNC Kenan-Flagler Business School gained 23.5 points, or more than 200%, to 35%. Three other B-schools more than doubled their international ranks in two years.”

Are you an international MBA applicant? We’ve helped hundreds of applicants get accepted to top MBA programs! CLICK HERE TO FIND OUT HOW WE CAN HELP YOU GET ACCEPTED >>

The GMAC’s survey from 2019 was the first to inquire about a program’s STEM-certification, and found that these programs were more likely to report growth in international applicants. A total of 195 of the 804 U.S. programs responding reported that their programs were STEM-certified (24%). Among them, the most common program types were Master of Data Analytics (28%); Master of Finance (22%); and Master of Information Technology (14%). And while a majority of both STEM-certified (53%) and non-STEM (57%) programs reported declines in total applications during this period, STEM-certified programs fared better among international applicants. In the 2019-2020 academic year, 43% of STEM-certified programs grew their international applications, compared with 26% of non-STEM programs.

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Given ongoing concerns over visa status and one’s ability to work in the U.S. after business school, programs that are STEM-certified are sure to be more appealing to this applicant pool.

While some MBA programs – such as Chicago Booth, Wharton, Virginia Darden – now offer specific concentrations that qualify international students for STEM OPT, others – such as Berkeley Haas, Carnegie Mellon Tepper, and Rochester Simon – qualify MBA graduates of all majors in their MBA programs for this extension.

During 2021, MBA programs have seen a rebound in international applicants, and many schools (NYU Stern, Darden, and Yale) are touting this return. Still, they are maintaining their STEM certifications because it will pave the way for their graduates to get jobs and stay in the U.S. long enough to pay off or pay down their loans. Despite its cost, the MBA degree continues to pay robust dividends right off the bat. According to a recent Wall Street Journal article: “At about 98% of universities that offer master’s of business administration programs, graduates typically made more money two years out of school than they had borrowed, a Wall Street Journal analysis of federal student loan data for nearly 600 programs found.”

STEM MBA Programs

Name of MBA Program	Majors That Are STEM Designated	MBA Essay Tips
Arizona State Carey	All MBA Platforms	Tips
Babson MBA	1) Business Analytics and Machine Learning 2) Quantitative Finance	Tips
Berkeley Haas	All Majors	Tips
Brigham Young Marriott	Management Science and Quantitative Methods	Tips
Carnegie Mellon	All Majors	Tips
Chicago Booth	All MBA programs	Tips
Columbia Business School	MBA and EMBA programs	Tips
Cornell Johnson	1) Two-Year Management Science MBA 2) One-Year Management Science MBA 3) Tech MBA 4) MPS in Management 5) MPS in Management - Accounting Specialization	Tips
Dartmouth Tuck	STEM track	Tips
Duke Fuqua	Second Major in Management Science and Technology Management (MSTeM)	Tips
Georgetown McDonough	Management Science major	Tips
Harvard Business School	Management Science track	Tips
Indiana Kelley	Accounting, Business Analytics, Finance, Marketing or Supply Chain and Operations	Tips
Lehigh University College of Business	Business Analytics (a concentration within 1-MBA)	Tips
Michigan Ross	STEM track	Tips
MIT Sloan	MBAn	Tips
New York University	Tech MBA Two-year full-time MBA	Tips
Northwestern Kellogg	Management Science MMM Program for Dual Engineering/MBA Degrees	Tips
Notre Dame Mendoza	MBA/Master of Science in Business Analytics Dual Degree	Tips
Pace University	MBA in Information Systems	Tips
Purdue Krannert	MBA-STEM	Tips
Rice Jones	All MBA Programs	Tips
Rochester Simon	All Specializations	Tips
Rutgers	STEM designation	Tips
Stanford GSB	1) All MBA majors 2) MSx	Tips
Syracuse	FT MBA, M.S. in Business Analytics, MS in Finance, MS in Marketing and MS in Supply Chain Management	Tips
Texas McCombs	14 of the 22 concentrations for the full-time MBA program	Tips
University of California, Davis	All Majors	Tips
University of California, Irvine	Analytics in Digital Leadership concentration	Tips
University of California, Los Angeles	All Specializations	Tips
University of California, Riverside	All MBA Programs	Tips
University of California, San Diego	1) Full-time MBA 2) FlexEvening 3) FlexWeekend	Tips
University of California San Francisco	1) Financial Analysis, MS 2) Information Systems, MS 3) Full-Time MBA 4) Marketing Intelligence, MS 5) Energy Systems Management & MBA 6) Environmental Management & MBA (4+1), BS/MBA 7) Financial Analysis & MBA (4+1), BSBA/MS	Tips
University of Connecticut	1) Business Analytics 2) Digital Marketing Strategy 3) Financial Analysis and Investments	Tips
University of Delaware Lerner	Major in Business Analytics	Tips
University of Georgia Terry	Only open to U. of Georgia undergraduates; includes 45 majors	Tips
University of North Carolina Kenan-Flagler	All MBA Programs	Tips
University of North Texas Ryan	MBA in Business Analytics	Tips
University of Washington Foster	Management Science	Tips
University of Wisconsin - Madison	1) Specialization in Operations and Technology Management 2) Supply Chain Management	Tips
USC Marshall	Specialization in Management Science	Tips
Vanderbilt Owen	Finance Concentration	Tips
Wharton	1) Business Analytics 2) Business, Economics & Public Policy (BEPP) 3) Business, Energy, Environment & Sustainability (BEES) 4) Operations, Information & Decisions (OID) 5) Quantitative Finance 6) Statistics	Tips
Washington University in St. Louis (Olin)	Full-time MBA	Tips

We’re going to do our best to keep this table current. However, please do not rely on this table; confirm the STEM designation yourself to make sure that the MBA programs you apply to really have that designation. And if you find out a school has attained STEM certification and is not on the list, please let us know by emailing blog@accepted.com.

If you would like to learn how to get into top MBA programs that offer STEM OPT eligibility and are a good fit for you, register for a free consultation with me. 

At Accepted, we’ve helped hundreds of applicants get accepted to top MBA programs and look forward to helping you too! CLICK HERE TO GET STARTED.

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By Jennifer Bloom, admissions consultant at Accepted for 20 years and Certified Professional Resume Writer (CPRW). She is an expert at guiding you to produce application materials that truly differentiate you from the rest of the driven applicant pool. If you would like help with your application, Jennifer can suggest a number of options that work with any budget. Want Jennifer to help you get accepted? Click here to get in touch!

Related Resources:

• STEM Applicants: Why Your Statement of Purpose is So Important
• Top MBA Application Essays: How to Answer Them Right (school-specific essay tips)
• The Questions You SHOULD Be Asking – ANSWERED!, a podcast episode

The post Top STEM MBA Programs: A Comprehensive STEM-OPT Eligible List appeared first on Accepted Admissions Blog.

Distance learning and unstable market conditions due to the Covid pandemic have not hurt the fortunes of MBA grads from top programs. The 2022 employment reports released in recent weeks from top schools, including NYU Stern School of Business, University of Michigan Ross School of Business, UC-Berkeley Haas School of Business, MIT Sloan, Harvard, and other peer programs have all announced record-breaking starting salaries for grads. 

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NYU Stern MBA Salaries Soar

Median base salaries for NYU Stern were $170,000–the highest ever–up $15,000 from the previous year. Median signing bonuses of $35,000 were on par with 2021, and average total compensation rose by $14,340 to an unprecedented $196,143. 

Within three months of graduation, 94.1 percent of Stern graduates had accepted job offers; 86.6% had accepted job offers by graduation. Top hiring industries remained consistent: consulting (31.2 percent), investment banking (27.2 percent) and tech (17.0 percent). 

Brian Ruggiero, Associate Dean of Career Services, boasted that the Class of 2022, which had begun their MBA studies during the pandemic, “adapted quickly to the resulting paradigm shifts. The demand for these skills is clear,” he said, pointing to the high acceptance rates for jobs three months after graduation being on par with pre-pandemic levels, as well as the highest compensation on record. Early data for the Class of 2023 also show “strong demand for Stern talent,” he added, evidenced by a 100% success rate among seekers of internships. 

Michigan Ross MBA Class of 2022 Almost at 100% Employment

Similarly, University of Michigan Ross School of Business reported that an eye-popping 99% percent of their 2022 grads were offered jobs within three months of graduation, landing median salaries of $165,000 and a $192,270 median salary package. Both salary figures reflect a $21,000 increase over the previous year.

The B-School Selectivity Index:
Are You Competitive at Your Dream School? >>

UC Berkeley Haas, Dartmouth Tuck, and Georgetown McDonough Report Great Employment Outcomes

On the West Coast, the 2022 class at UC-Berkeley Haas School of Business had a 93.8% job offer rate, up 4% from the prior year, returning that figure to among the highest of the pre-pandemic years. The median base salary for Haas MBAs was $155,000, up by 3.7% from the previous year.

Dartmouth Tuck’s employment data released November 22 for the Class of 2022 showed that 98% of Tuck grads had job offers within three months of graduation, with median base salaries rising by 16.7% to $175,000 from $150,000 in 2021. Ninety-three percent of grads received a median signing bonus of $30,000, bumping median total compensation to $202,900, up more than 15% from last year.

Georgetown MBAs enjoyed average base salaries of $138,552, up from $126,107 last year, and an average signing bonus of $36,342. A statement from their website noted that “96% of students received a job offer within three months of graduation and 95% accepted their offers – tying last year’s placement records as the highest levels ever achieved by Full-time MBA graduates. The record-setting average salary marks a 10% increase from 2021, with bonuses increasing by 6%. 

“The outcomes presented in this report are a testament to the extraordinary talent in the Class of 2022,” said Christy Murray, associate dean and managing director of career services at Georgetown McDonough. “These students began their MBA journey amid ongoing disruptions and uncertainty from the global pandemic, yet through their hard work, perseverance, and commitment to excellence, they were well positioned to secure impactful roles in business across a wide range of industries and sectors.” 

Wharton MBAs pocketed their highest-ever median base salary of $175,000, a jump of 12.9 %. Salaries had been flat at $150,000 in 2019 and 2020, rising only to $155,000 in 2021. Within three months of graduation, 98.7% of Wharton’s MBAs seeking jobs received offers. Wharton’s 20222 employment report, released November 17, also revealed that more grads than ever found jobs in tech, despite the current flurry of layoffs and hiring freezes at tech giants Meta, Amazon, and Twitter. 

However, an article in Poets&Quants cautioned that Wharton’s impressive results in landing tech jobs may be a bit of an outlier: 

“. . . techies should be wary of seeing Wharton’s success in tech as a sign of rebound. While the raw number of Wharton MBAs finding jobs in tech is higher than ever, the percentage of the class in the industry is down slightly, as the number of job-seeking graduates in 2022 (633) is 8.2% more than in 2021 (585) as a result of Wharton enrolling larger classes at the start of the coronavirus pandemic.

“Moreover, Whartonites’ success in landing tech gigs runs counter to many of their peer schools, where tech hiring is down — and in some cases down big — and likely points to a very different tech landscape graduates faced this summer as they rounded out their offers.”

Other MBA 2022 Jobs and Salary Stats

The following data is from Poets&Quants and underscores that whatever hardships and uncertainties students experienced while applying and earning MBAs during such a volatile period, their investments are paying off handsomely now.

• Harvard Business School grads saw a 16.3% year-to-year increase in median salary to $175,000 and median performance bonuses increase to $40,000 powered a leap in total median compensation to $223,100, a one-year jump of 17.5%.
  
  
• Virginia Darden School of Business MBAs made a median $175,000, up 21% from the Class of 2021;
  
  
• At MIT Sloan School of Management, average base salary increased 7.6% from the previous year, to $159,391, and median base salary grew 10% to $165,000; total median compensation was $204,700, up 4.7% from $195,600 last year;
  
  
• At Northwestern Kellogg School of Management, median salary for the class jumped $15,000, to $165,000, and is up 18% since the last pre-pandemic graduating class in 2019; bonuses stayed at a median $30,000, and with 87% receiving them, median total pay came out to $191,100, up 8.7% from $175,800 last year.

Soaring MBA Salaries’ Significance for Applicants

These stats reflect several factors: 

1. The enduring value of the full-time two-year MBA degree from top MBA programs.
   
   
2. Inflation, which increases salaries and will allow most of those who borrowed their tuition to pay off their debt with cheaper dollars.
   
   
3. A tight labor market in which businesses – even if we are in a recession – are willing to pay for top talent.

Many of the 2022 MBA grads applied to business school in winter and spring 2020 at the height of COVID lock-downs, social isolation, and distance learning. Unemployment hit 14.8% in April, 2020 and remained above pre-COVID levels until Fall 2021. These grads looked at the dismal events of the time, swallowed hard, and concluded that the environment is paving the way for them to obtain their MBA. As you consider whether to apply at a time of rising layoffs, possible recession, and general instability, consider the payoff that these grads have experienced by taking the plunge when they did.

Are you considering an MBA to maximize your earning potential? The stats show that the investment is worth it, but it takes an outstanding application to impress the elite schools. Our experienced MBA admissions consultants work with you one-on-one, throughout the process, to help you get ACCEPTED!

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For 25 years, Accepted has helped business school applicants gain acceptance to top programs. Our outstanding team of MBA admissions consultants features former business school admissions directors and professional writers who have guided our clients to admission at top MBA, EMBA, and other graduate business programs worldwide including Harvard, Stanford, Wharton, Booth, INSEAD, London Business School, and many more. Want an MBA admissions expert to help you get Accepted? Click here to get in touch!

Related resources:

• Starting Salaries for MBA Grads Climbing
• M7 MBA Programs: Everything You Need to Know in 2022
• Is an MBA Worth It, or Is the Sky Falling Down on the MBA Degree?, a podcast episode

The post Class of 2022 MBAs Earn Bullish Starting Salaries appeared first on Accepted Admissions Blog.

If you are a recently laid off and otherwise competitive applicant, MBA programs want YOU!

Are you a tech worker who just got laid off from Meta, Twitter, Facebook, Stripe, or a similar company? Were you thinking of getting an MBA before and/or since the layoff? Well, what started as a trickle with Northwestern University–Kellogg School of Management and MIT Sloan has turned into a river, and may turn into a flood.

Here is a list of the changes full-time MBA programs are making to accommodate and attract recently laid off workers.

MBA Programs Seek Laid-Off Workers

School	Who's Eligible	Accommodation
Cornell MBA & Johnson Cornell Tech MBA	Qualified candidates who have recently been laid off by a U.S. company, applying for the January 2023 MBA deadlines	Application fee waiver & GRE/GMAT test waiver
Dartmouth Tuck	Any worker laid off since Aug. 1, 2022. For more info visit tuck.dartmouth.edu	Can request a GMAT/GRE test waiver. Deadline: March 1, 2023
Duke Fuqua	All applicants	Added new round with Feb. 13, 2023 deadline -- Can take test for this deadline prior to Feb. 28
Georgia Tech Scheller	Professionals who have been affected by recent layoffs, applying to the full-time program	A select number of designated fellowships, application fee waiver & test waiver
Indiana Kelley	Laid-off tech employees	Application fee waiver & GRE/GMAT test waiver
MIT Sloan	Laid-off workers	Extend its Round 2 deadline to Feb 23, 2023
Northwestern Kellogg	Employees who were laid off this quarter at a company in the tech sector and are applying to full-time graduate degrees, including the two-year M.B.A., by a mid-January deadline.	Waive GMAT/GRE
NYU's Andre Koo Technology and Entrepreneurship MBA	Class entering in May 2023 (applying either to its Jan.15 or final Feb. 15 deadline)	Waive entrance exams
Rice University Jones Graduate School of Business	Open to U.S. citizens, U.S. permanent residents, or those who currently reside in North America	Round 4 added with a deadline of May 1
SCU Leavey School of Business	Those who work in the technology industry, especially those affected by recent layoffs, applying to the following on-campus graduate programs: • Part-time Evening MBA • Executive MBA • MS Business Analytics • MS Finance and Analytics • MS in Information Systems	1) Waive application fees 2) Lift GMAT/GRE requirement for those with tech backgrounds 3) Award scholarships of at least $3,000 4) Accept applications for the Spring Evening MBA through January 20, 2023
UC Berkeley Haas	Prospective candidates who have been laid off between June 1, 2022 to Feb. 2, 2023 , applying to the full-time MBA program	Application fee waiver & deadline extension to Feb. 2, 2023
UCLA Anderson	Recently laid off due to a organizational restructuring or downsizing and apply by R2 Jan. 4, 2023 deadline	1) Can submit test scores and recommendations by Feb. 4. 2) Application fee waivers. 3) If admitted through this process and later find new employment, may be eligible to switch to Anderson’s part-time fully employed MBA program.

* If you know of other schools that are taking special steps to attract laid off workers this cycle, please email blog@accepted.com and let us know.

Here’s the background.

Kellogg Waives GMAT/GRE for Sub-set of Applicants

On November 14, 2022, Lindsay Ellis of the The Wall Street Journal broke the news that Kellogg is waiving its test requirement for “employees who were laid off this quarter at a company in the tech sector and are applying to full-time graduate degrees, including the two-year M.B.A., by a mid-January deadline.”

Kellogg, like many top MBA programs, experienced a surge in applications when COVID hit due the soaring unemployment rate. At the same time, and due mostly to difficulties in accessing a test, it waived its test requirement. That year, applications to Kellogg and other top-ranking M.B.A. programs, including University of Pennsylvania’s Wharton School, Columbia Business School and MIT Sloan School of Management, rose significantly.

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Since then Kellogg restored the test requirement and unemployment took a deep dive. This past cycle, like many other top MBA programs, it experienced a drop in applications. With a very tight labor market and the test requirement back in place, Kellogg experienced an 18% plunge in application volume last year. Many in admissions expect either flat application volume this cycle or a further drop depending again on the economy.

Quoting the WSJ article, “Accustomed to jobs with six-figure salaries, big equity packages and other perks, many tech workers have had a particular incentive to stay on the job in recent years.” Now, with tech workers losing their jobs by the thousands, MBA programs are seizing the opportunity to recruit students from an already talented pool of candidates. 

Kellogg’s associate dean of degree programs, Greg Haniffee, said that the school decided to waive tests earlier in November after Twitter began cutting its workforce in half. Again from the article: “These folks were high performers and are now at a pivot point in their life,” he said. “If they’re considering business school, removing this barrier could benefit them.”

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Kellogg’s offer to waive the GRE or GMAT requirement for applicants recently laid off from the tech sector is open to Kellogg’s Round 2 applications for full-time and part-time programs. In a blog post from November 14, Hanifee wrote that these newly available candidates “can apply to Kellogg by providing their transcripts, resume and application which will also include a brief essay on their work experience and most recent role as well as what they hope their transformation will be and how it will advance them. . . We hope this offer will allow some people to speed up their career transformation process.”

Unlike in 2020, when Kellogg waived the test requirement for all applicants, Kellogg is treading more carefully now by targeting a select applicant pool with proven capabilities who will be competitive job seekers. These recently laid-off workers had demanding roles until just a few weeks ago, and their skills, when combined with an MBA, will probably be in demand. It’s understandable that Kellogg is comfortable relying on their transcript as evidence of academic ability (or lack thereof). They probably don’t need the test score. 

Kellogg’s move presents an opportunity for laid-off tech talent who would do well to consider what may be a rare and perhaps fleeting offer. Kellogg is already a techie haven, with seventeen percent of its newest MBA class coming from tech, and one-fifth of its 2022 graduating class having gone into the sector.

As Accepted founder and CEO Linda Abraham noted in Poets and Quant’s “For these recently laid-off workers, who until the last few weeks had positions that were demanding and whose skills when combined with an MBA will probably be in demand, Kellogg is comfortable relying on their transcript as evidence of academic ability (or lack thereof). They don’t need the test score. Getting these kinds of jobs is in and of itself a test.”

With this move, Kellogg is hoping to boost its pool of qualified applicants while easing the decline in application volume.

MIT Sloan has its own approach to attracting and accommodating recently laid off workers.

Work with a seasoned consultant to polish the presentation of your work experience and your entire application >>

MIT Sloan Offers Later Round 2 Deadline to Laid-Off Workers

In an interview on November 17 with Linda Abraham, who is also the host of the Admission Straight Talk podcast, MIT Sloan’s Assistant Dean of Admissions, Dawna Levenson announced that MIT Sloan will extend its Round 2 deadline to Feb 23, 2023 for laid off workers. The move gives potential applicants who were not anticipating a layoff and are interested in the MBA time to prepare for the GRE or GMAT, take the test, and submit an excellent application this cycle.

In addition to having the data point that the test score provides, MIT Sloan may also be attempting to avoid the criticism that Kellogg received for its test waiver. In a lively discussion on LinkedIn about Kellogg’s move, many felt that it is unfair to require the test for some applicants and not for others. People who worked or work at those same companies and applied for Round 1 must take the test. Employees of those firms who were not laid off still must take the test. With its extended deadline, MIT Sloan is getting the data it values, showing understanding for recently laid off workers, and probably increasing its applicant pool.

The complete interview with Dawna Levenson aired on November 29.

With so many changes in the world of MBA Admissions, why not get expert guidance that is tailor-made for you? Our consultants have helped thousands of applicants get ACCEPTED to top MBA schools–and they can do the same for you. Check out our menu of MBA services to pick the one that is just right for you! We’re here to help you GET ACCEPTED.

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For 25 years, Accepted has helped business school applicants gain acceptance to top programs. Our outstanding team of MBA admissions consultants features former business school admissions directors and professional writers who have guided our clients to admission at top MBA, EMBA, and other graduate business programs worldwide including Harvard, Stanford, Wharton, Booth, INSEAD, London Business School, and many more. Want an MBA admissions expert to help you get Accepted? Click here to get in touch!

Related resources:

• Why MBA? The Winning Ingredients of a Dynamic MBA Goals Essay
• Northwestern Kellogg 2022-23 MBA Essay Tips & Deadlines
• From Example to Exemplary, a free guide to writing outstanding admissions essays
• 5 Fatal Flaws to Avoid in Your MBA Application Essays, a free guide

The post MBA Programs Seek Recently Laid Off Tech Workers appeared first on Accepted Admissions Blog.

UC Berkeley Haas is perhaps best known for its highly selective MBA program, but this business school also offers a one-year Master of Financial Engineering degree for those applicants interested in computational finance focused on business and economics. 

Haas’s MFE shares the MBA program’s high selectivity – the MFE program received 749 applications while only 109 offers were made in 2022 – and its high post-graduation salaries – after graduating from the one-year MFE, last year’s graduates earned an average first year base compensation of $119,297.

In fact, 98% of the MFE students looking for jobs were placed, and 87% succeeded in staying and working in the US when they graduated. One reason for that high placement rate is the practical experience that graduates enjoy in their mandatory 10-12-week internships in the fall/winter (October to January), filling banks’ needs for interns in the wake of those MBA students returning to their programs following their summer internships. 

Another reason for that successful placement rate in the US is that this is a STEM program, so international students are eligible for up to 36 months of optional practical training in the US after graduating. Haas MFE grads apply the computational proficiency and complex financial modeling & strategy skills they gain predominantly to careers in asset management, investment banking and fintech. 

The MFE application contains several components, including listing all courses you have taken in the required prerequisite areas (Finance/Economics: Corporate Finance, Macroeconomics; Math: Calculus, Linear Algebra, Partial Differential Equations, Numerical Analysis; Statistics: Advanced Statistics, Econometrics; and Programming: C++, Python, R, and Machine Learning). 

Here are Haas MFE’s essay questions, each with a 250-word maximum length, with my tips for responding. 

UC Berkeley Haas Master of Financial Engineering application essays

Haas MFE essay #1

Please discuss why you have decided to apply to the MFE at this time and what career path you intend to pursue post MFE. (250 words maximum per question)

If your answer is “To make a lot of money,” then stop right now. Sure, graduates of this program will be offered high salaries, but Haas is seeking applicants who are passionate about finance, not just about making money. Where is your passion? What questions or problems do you look forward to tackling with your MFE? Be sure to address the “at this time” element of the question by including how your previous experience has inspired and prepared you for these challenges.

Haas MFE essay #2

If you have ever been placed on academic probation, been dismissed from a school, or received a failing grade (including non-graded courses for which you received an assessment of unsatisfactory or “not pass”), please explain. (250 words maximum per question)

Haas’s MFE program is challenging, so only those with strong academic records will thrive here. If you experienced a course or period in which you did not perform to that standard, here is your chance to explain why the admissions committee should not worry that this is indicative of poor future performance in their program.

Supplemental information

These questions address additional aspects of your application and should be answered as succinctly as possible.

Haas MFE supplemental question #1

What do you view as a particular strength of yours? What do you view as a particular weakness? (250 words maximum)

Haas students are self-aware; they have Confidence Without Attitude, so you are allowed to be proud of your strengths as long as you recognize your areas for growth. Use this space to share an example that illustrates a strength you have developed as well as your effort to address a weakness. 

Haas MFE supplemental question #2

Do you feel that your academic record is an accurate reflection of your ability and potential? In comparison to your college friends and classmates, do you feel that you were particularly advantaged or disadvantaged? Please explain. (250 words maximum

For every grade there is background, and Haas does want to understand it. If you faced challenges that most students do not – illness, physical challenges, family financial difficulties that you were helping with, trauma – you can share that detail here to lend context to your story.

Haas MFE supplemental question #3

Provide an account of any gaps in your employment since your undergraduate degree. (250 words maximum)

Gaps of 3 months or more require some explanation. Show that you used the time between employments for your personal edification and/or the benefit of the community.

Haas MFE video essay

Here you will be shown a question, have 20 seconds to think and organize your ideas, then have up to 2 minutes to respond (though you may stop the recording earlier than that). If you don’t feel your first response went well, you will be allowed to delete that attempt and redo the video. 

Keep in mind that there is no right or wrong answer to this question. Haas is using this video to put a face and tone to your application, so while your words will matter, presence and poise matter also. You need to speak slowly and clearly, look openly at the camera, and speak as if there were a person sitting in front of you. I recommend placing a drawing of a smiley face or even a picture of the program’s executive director, Linda Kreitzman, next to your camera so you have an easier time imagining this personal engagement.

UC Berkeley Haas Master of Financial Engineering Spring 2023 application deadlines

*Late applications will be accepted until October 28, 2022, 3:00AM ET

Applicants typically hear admissions decisions within 4-8 weeks of applying.

Source: Haas MFE website

If you would like help with your Berkeley Haas Master of Financial Engineering program, register for a free consultation with me. 

At Accepted, we’ve helped hundreds of applicants get accepted to top Masters programs and look forward to helping you too!

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By Jennifer Bloom, admissions consultant at Accepted for 20 years and Certified Professional Resume Writer (CPRW). She is an expert at guiding you to produce application materials that truly differentiate you from the rest of the driven applicant pool. If you would like help with your application, Jennifer can suggest a number of options that work with any budget. Want Jennifer to help you get accepted? Click here to get in touch!

Related Resources:

• The Berkeley MFE: One Tough Program with Amazing Opportunities for Grads, a podcast episode
• The Ultimate Guide to Applying to Master’s in Finance Programs, a free guide
• Deferred MBA Programs and Other Options for MBA Hopefuls With No Work Experience

The post Berkeley Haas MFE (Master of Financial Engineering) Application Tips appeared first on Accepted Admissions Blog.

Chicago Booth and Wharton (University of Pennsylvania) share the #1 spotlight in U.S. News’ Best Business Schools of 2023 rankings, released March 29.

The metrics for the rankings are based on career placement success, student excellence and qualitative assessments by experts. MBA rankings are studied voraciously by applicants, students, and alumni but remain controversial. 

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Notable changes this year

• Chicago Booth’s rise reflected improvements on several metrics: a class GMAT score up by six points to 730; an acceptance that fell by five points to 22.6%; a higher score by corporate recruiters that now matches Harvard and Wharton; and a spike in average salary and sign-on bonus for last year’s MBA grads of $7,300 to a record $180,144–the second-highest of any business school. (NYU Stern had the highest of all schools at $181,803.) Placement for the Class of 2021 jumped five points three months after graduation, at 96.4%. 
  
  
• Wharton’s acceptance rate dropped by 4.9 percentage points to 18.2% and their average GMAT score rose by one point. Wharton MBAs enjoyed a jump in average salary and signing bonuses by $6,600 to $179,692, the second-highest of all schools behind only Booth. Job placement three months after commencement moved up by 3.3 percentage points to 96.8%.
  
  
• Top-ranked schools continued to jostle for position, with some flagship programs rising and others falling. Stanford’s GSB dropped by three notches, tying with Kellogg (Northwestern) for #3. Harvard and MIT Sloan remain tied at #5–no change from last year. Yale University’s SOM notched its highest ranking ever at #7, with Columbia and Haas (UC Berkeley) nipping at its heels, sharing the #8 ranking. Yale’s rise stemmed from a six-point rise in its average GMAT score to 726; a drop of six percentage points on its acceptance rate to 23.6%; and a dramatic 8.8 percentage improvement on its placement rate three months after graduation to 94.1%.
  
  
• Harvard Business School’s fifth-place showing reflects a surprisingly low employment at graduation of 69.0%, lower than any other Top 10 school. Its placement rate three months after graduation was 92.3%, the second-lowest for a Top 10 program. And the average salary and bonus for Harvard’s MBAs last year was $172,774, lower than seven other U.S. business schools. Harvard lost out on other metrics as well, including a higher admit rate of 12.5%, up from 9.2% last year, and average GMAT and undergrad GPAs that were lower than many other competitors. 
  
  
• Ross (University of Michigan) ascended into the Top 10 from #13, while Tuck (Dartmouth College) dropped to #11. Stern (NYU) and Fuqua (Duke University) share the #12 spot. Many other programs in the top 25 leaped forward, including Emory University’s Goizueta Business School, rising five places to #21 and Mendoza College of Business (Notre Dame) gaining 11 places to rank 25th. 
  
  
• Outside the Top 25, Washington University’s Olin Business School in St. Louis rose seven spots to #29 and the University of South Carolina’s Moore School of Business rose eight positions to place #47.

While U.S. News had dropped standardized test scores from its online MBA ranking earlier this year, it kept the average class GMAT and GRE scores in its formula for the full-time program rankings. 

The rankings were based on a survey of all 493 institutions with master’s-level business programs in the U.S. accredited by AACSB International. A total of 363 survey recipients responded; the final rankings are based on 134 business schools that provided enough data on their full-time MBA programs and had large enough 2021 graduating classes seeking employment for valid comparisons. The rankings also include some programs conferring degrees such as Master of Science in Management and Master of Science in Industrial Administration.

U.S. News 2023 Top 10 Full-Time MBA Programs

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U.S. News 2023 Top 10 Part-Time MBA Programs

Hoping to start business school in 2023 at one of these top-ranked programs? Check out our MBA Admissions Consulting & Editing Services and work one-on-one with an expert consultant to create an application that will get you ACCEPTED!

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Related Resources:

• Do MBA Rankings Matter?
• Top 10 or Bust: Dispelling 2 MBA Myths
• Is an MBA Worth It, or Is the Sky Falling Down on the MBA Degree?
• Financial Times Ranks Wharton as #1
• M7 MBA Programs: Everything You Need to Know

The post U.S. News MBA Rankings 2023 [Full-Time & Part-Time] appeared first on Accepted Admissions Blog.

The Financial Times has released its global rankings of the best MBA programs and has considerably shuffled the deck. Several top-ranked programs fell several notches, while others rose considerably. For the first time since 2011, Wharton has returned to its status as #1 in FT’s list. 

Other programs that made giant strides in the rankings include Columbia Business School (ranked 8th in 2020), and Kellogg (Northwestern), now #5 (11th place in 2020). One reason for such huge fluctuations was that five of the top U.S. programs (Harvard, Stanford, Wharton, MIT, and Columbia) were not listed at all last year at all, skewing that year’s results. 

Other highly rated programs that suffered serious tumbles in the rankings include London Business School, Tuck (Dartmouth), and UVA Darden. In fact, 69 of the 91 schools ranked fell in the rankings, many of them by double digits.  

Compared with last year, many of these schools’ rankings looked like riders on a roller coaster, with some plunging far below and others rising by as much as 20 points to unprecedented heights. 

As we have cautioned before, it’s vital to keep these rankings in perspective. They are based on many variables that have little or nothing to do with the quality of the curricula per se.

Do you see yourself in one of these top programs? Find out how working one-on-one with one of our Admissions Consultants can help get you ACCEPTED!

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Related Resources:

• Top 10 or Bust: Dispelling 2 MBA Myths
• Top MBA Programs Get STEM-Certified to Attract Int’l Students
• B-School Selectivity Index: Discover the Schools Where You are a Competitive Applicant

The post Financial Times Ranks Wharton as #1 in 2022 Rankings appeared first on Accepted Admissions Blog.

Looking for the best possible admissions advice?

How about admissions advice from the admission committee members themselves?

Linda Abraham, founder of Accepted and host of the Admissions Straight Talk Podcast has a collection of highly enlightening interviews with directors of admissions and adcom members of top business schools!

Listen in as Linda asks her adcom guests pointed and to-the-point questions about the schools, the admissions process, how to get in, and…how to get rejected.

Listen, enjoy, and apply successfully!

For a varied menu of thought-provoking and informative conversations with business leaders, entrepreneurs, MBA students, and more, check out the Admissions Straight Talk Podcast:

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The post From the Mouths of MBA Adcom Members: How to Get Accepted appeared first on Accepted Admissions Blog.

The Haas EMBA essay questions reflect the importance of fit with the program. This fit includes being a mature, self-aware person who is open and will engage productively and meaningfully with the Haas EMBA cohort. Keep on the radar screen as you conceive and draft your essays Haas’s Defining Leadership Principles: “Question the Status Quo, Confidence Without Attitude, Students Always, and Beyond Yourself.” Don’t view these principles as elements you “check off” as you write but, rather, holistically: together they create a culture and values that you can reflect back in your own unique way.

UC Berkeley Haas EMBA application essays

Haas EMBA career goals question (embedded in the application):

Briefly describe your career goals in the next 3-5 years. (150 words)

Be specific – what position, what company/industry, where, what you will be accountable for. Also, add a sentence or so about what impact you’d like to achieve during this time. Don’t make it just about what you hope to learn and how you hope to grow – talk about the footprint you want to leave at this phase of your career.

Berkeley EMBA essay #1

A person’s identity is shaped by many different aspects, including family, culture, personal interests, and surrounding environments. Please share a facet of your identity or story that is essential to who you are. (300 word limit)

This adcom wants to get to know you in a deep way – this question minces no words; it gets right to the essence of what makes you tick. Be strategic but not overly so in selecting a topic – okay, that really does sound like a contradiction! What I mean is: DO consider what essential formative experience or factor will shed new, relevant light on your candidacy and/or will reflect a valuable dimension of experience for Haas. But DON’T make this strategic lens the only consideration; DO “listen to your gut” – if a topic rises to the surface immediately on reading this question and seems to be the “natural” answer for you, it probably means you should go with it – that naturalness will power and inform your essay for the better. And you can still be strategic in how you present the story. 

I suggest a simple structure: present the “facet” as part of a story, and then, at the end, add a short reflection on its continued meaning and relevance in your life.

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Berkeley EMBA essay #2

As a working professional, you have developed unique skills, knowledge or experience in your career. Please summarize your primary area of professional expertise or knowledge. Highlight any aspect(s) that makes you unique or sets you apart from your peers. (150 word limit)

It’s a great opportunity to spotlight key strengths. From “skills, knowledge and experience” I suggest presenting 2-3 examples, ideally each reflecting different categories noted. Use one paragraph for each. And, for each: make it concrete, present an example (this may be as brief as a sentence or even a phrase), and ensure it really is special in some way. For that last point, you must have a good grasp of the Haas EMBA students. What would make you stand out and be unique among this group of people? Beware of 2 pitfalls: 1) Being too generic and broad in your points; 2) using examples that are similar or overlap. Specificity is the key to a vivid and memorable short essay.

Additional Optional Information

This section should only be used to convey relevant information not addressed elsewhere in your application. This may include explanation of academic aberrations, supplemental coursework, etc. You are encouraged to use bullet points where appropriate. (250 word limit)

Address any issues that require explanation. Only add additional information if it is truly essential to the adcom’s understanding of your candidacy. And use those bullet points.

For expert guidance with your UC Berkeley Haas EMBA application, check out Accepted’s MBA Application Packages, which include comprehensive guidance from an experienced admissions consultant. We’ve helped hundreds of applicants get accepted to top EMBA programs and look forward to helping you too!

Berkeley EMBA application deadlines for 2021-22

Source: Berkeley Haas Website

***Disclaimer: Information is subject to change. Please check with individual programs to verify the essay questions, instructions and deadlines.***

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Related Resources:

• Why MBA, a free guide to writing about your MBA goals
• School-Specific EMBA Application Essay Tips
• 7 Simple Steps to Writing an Excellent Diversity Essay

The post UC Berkeley Haas EMBA Application Essay Tips and Deadlines [2021 – 2022] appeared first on Accepted Admissions Blog.

Most grad students take out student loans to finance their higher education and can end up saddled with debt running into hundreds of thousands of dollars by the time they graduate. According to a Wall Street Journal analysis of federal student loan data for nearly 600 programs, graduates of approximately 98% of universities that offer MBA programs usually made more money two years after graduation than they had borrowed. Contrast this with law schools, where approximately 6% of programs had grads with higher median salaries than debt for the same time period.

There are many reasons that students pursue an MBA – the promise of a significantly higher salary, the ability to enter a new industry, or the pursuit of an executive track to name a few. However, the high cost of getting an MBA, which can range from $100,000 to $250,000 or more after living expenses are added to tuition and fees, can be enough to change many potential students’ minds. Despite the relatively low-interest federal loans available to grad students, the amount that students can borrow is fixed at $41,000, leaving some students with no choice but to take out additional higher-interest (but unlimited) Grad Plus loans. So it is encouraging to potential MBA applicants to see that what has long been thought of as a “no-brainer investment” does essentially pay off.

However, there are other factors which skew the data somewhat. There have been efforts to diversify the applicant pool for business schools, yet a significant proportion of MBA applicants still enter programs with professional experience, often in finance or other high-earning industries, thereby accelerating their career paths and making the post-MBA cohort a financially healthy group. Moreover, the data in the Wall Street Journal’s analysis reflects federal government loan programs and does not include private loans.

Not everyone who graduates with an MBA sees significant increases in salary. According to Paulo Goes, dean of Tulane business school, 2020 grads have had an especially difficult time since a lot of companies stopped recruiting MBA graduates during the pandemic. The impact of this slow-down is seen in graduates’ placements and salaries.

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For-profit business schools had a lower rate of students who repaid their loans after two years. Strayer University in Washington, DC had 2% of students fully repay their loans during the two-year period following graduation, with about 33% asking to temporarily stop payments. Strayer students borrowed a median of $74,000, but half of the grads earned less than $57,000 two years post-graduation.

Approximately a dozen other business schools revealed median debt loads that were greater than grads’ median salaries. Several schools stated that this is because students attended their expensive dual-degree programs. Roseman University of Health Sciences reported the highest debt to earnings of any program, with students borrowing a median of $172,000.

Even so, there is much to be gleaned from the data that would make an MBA worth the time and investment. Analysis shows that at several elite programs, including Harvard Business School and the Stanford Graduate School of Business, the median starting salary after graduation permitted more than half of grads to pay off their federal student loan debt within two years. 

Interestingly, some of the most expensive MBA programs had some of the lowest debt load. Graduates of Dartmouth’s Tuck School of Business borrowed a median of $41,000 in federal loans without turning to more expensive Grad Plus loans. Harvard Business School graduates had a median of $41,000 in debt, and median salaries of about $172,000. According to Chad Losee, Harvard’s managing director of MBA admissions, approximately 56% of the class of 2020 graduated with some debt, averaging $79,000 in combined federal and private loans. 

As Poets & Quants points out in its analysis of the Journal’s article, earnings are a reflection of the graduate’s chosen industry and the job’s location. Harvard reported a record pay year with 7% of the latest class taking positions in hedge funds and investment management jobs. The median total compensation for last year’s grads was $203,307, including a median salary of $152,682, sign-on bonuses of $27,500 reported by 54% of grads, and $132,500 in other guaranteed compensation reported by 27% of grads.

It is also worth noting that business schools have been increasing the number of scholarships they award to students over the last decade. Harvard distributes scholarships to defray the cost of its MBA program, distributing $40 million in fellowships to its MBA students last year. Approximately half of the enrolled students received scholarships averaging more than $42,000 per student in fiscal 2020.

P&Q top 10 business schools debt-income ratio

There seems to be much reassurance in the data that an MBA from a top school will indeed open doors to a lucrative career and allow one to pay off debts sooner than other programs.

Are you considering an MBA to maximize your earning potential? The stats show that the investment is worth it, but it takes an outstanding application to impress the elite schools. Our experienced MBA admissions consultants work with you one-on-one, throughout the process, to help you get ACCEPTED!

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Related Resources:

• Is an MBA Worth It, or Is the Sky Falling Down on the MBA Degree?, a podcast episode
• Top MBA Application Essays: How to Answer Them Right
• Top 10 or Bust: Dispelling 2 MBA Myths

The post MBA Students Pay Off Student Loans Faster Than Other Grad Degrees appeared first on Accepted Admissions Blog.

The U.S. News 2023 ranking is now live! Click here to check it out >>

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U.S. News has just released its 2022 rankings of the best full-time and part-time MBA programs. The rankings are based on surveys sent out to the 486 business schools with master’s-level business programs in the US, accredited by AACSB International. 

According to Poets & Quants, unlike the Economist and the Financial Times, only the U.S. News list ranks all the major U.S. business schools. All the M7 business schools opted out of the Economist’s ranking, and five of the M7 chose not to participate in the Financial Times ranking. 

Of the 486 business schools that received surveys, 364 replied, and 143 supplied sufficient data and had large enough 2020 graduating classes looking for employment for valid comparisons. Schools were ranked in eight areas. The data collected was standardized in order to compare them with the mean and standard deviations of other schools. U.S. News weighted and added the indicator standardized scores (z-scores) and gave the top school a score of 100. The remaining schools received a percentage of the highest score. The final ranking is in descending order based on these scores. MBA specialties were also ranked again this year.

[Read: Do MBA Rankings Matter?]

Highlights of the 2022 MBA Ranking

These were some of the significant changes in the full-time MBA rankings: 

• Stanford University and University of Pennsylvania (Wharton) retained their first and second place rankings this year. Stanford was able to do this despite dropping in four of the specialty MBA rankings. 
  

• Harvard Business School crept up to fifth place from last year’s sixth, which was its lowest position ever in the U.S. News ranking. 
  

• Dartmouth College (Tuck) advanced two spots and unseated New York University (Stern) to take the number ten spot.
  

Part-time business school rankings also showed some movement:

• University of Chicago (Booth), University of California, Berkeley (Haas), and Northwestern University (Kellogg) maintained their leading spots in the top three positions. 
  

• Carnegie Mellon University (Tepper) (eighth last year) and University of Texas, Austin (McCombs) (seventh last year) exchanged places and share the seventh spot.
  

• Indiana University (Kelley) is a newcomer to the top ten this year, taking the spot from Emory University (Goizueta).

U.S. News 2022 Top 10 Full-Time MBA Programs

U.S. News 2022 Top 10 Part-Time MBA Programs

Hoping to start business school in 2022 at one of these top-ranked programs? Check out our MBA Admissions Consulting & Editing Services and work one-on-one with an expert consultant to create an application that will get you ACCEPTED!

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Related Resources:

• The Ultimate Guide to Becoming a Competitive MBA Applicant, a free guide
• Business School Selectivity Index [Can I Get Into My Dream School?]
• Do MBA Rankings Matter?

The post U.S. News MBA Rankings 2022 [Full-Time & Part-Time] appeared first on Accepted Admissions Blog.

Haas has expanded its Accelerated Access program beyond UC Berkeley students, according to Haas’ Newsroom website. Accelerated Access enables students to apply for deferred admission to Haas’ full-time MBA program.

Accelerated Access was introduced in January 2020 as a pilot program open to UC Berkeley students only. It was hoped that, if successful, the program would be expanded beyond UC Berkeley students. Its great success is evident in the decision to now allow all undergrad seniors or final-year grad students from any college to apply.

According to Eric Askins, executive director of full-time MBA admissions, “We wanted to provide a new opportunity for young professionals who are planning to make an impact earlier in their careers through earning an MBA. Deferred admissions is the perfect option for many of these students, and we’re looking forward to meeting them.”

Accelerated Access allows undergrad and masters students in their final year to apply to the MBA program. Students are granted a conditional admission, enabling them to enroll following a 2–5-year deferment. This time will be used to expand their professional experience and to “do work that aligns with their passions with the reassurance that they will be able to return to a top-ranked MBA program within a few years,” Askins stated.

It is hoped that opening the program up to students outside of UC Berkeley will increase the diversity of the class. International students and those studying outside the traditional pre-MBA track are encouraged now to consider pursuing a Haas MBA. The chance to acquire 2–5 years of professional experience will provide these non-traditional students with the business foundation needed for their studies.

[READ: No Work Experience. Want MBA. What Should You Do?]

Once admitted, students will be able to join a Slack community, meeting with other deferred students to keep up with the admissions process and bond with future classmates. They will also meet yearly with an admissions officer to ensure they have the necessary support.

Accelerated Access’ first admissions deadline is April 5, 2021. Applicants must submit a resume, two letters of recommendation, two short essays, undergrad transcripts, and either GMAT or GRE test scores. There will be an interview as well. 

Non-traditional students may not be able to demonstrate work experience, but this will not keep them from being admitted. According to Askins, “We’re looking for strong academic indicators paired with clarity of purpose. If you know an MBA will be useful in your future goals, it means you’ve thought about a plan. We are looking for clarity on that plan.”

The Accelerated Access Program was also discussed in the recent Admissions Straight Talk interview with Eric Askins. For more of his perspective on that program and what Haas is seeking in Accelerated Access applicants, click here. 

Is a deferred admission program the right choice for you? We can help you evaluate your options, whether you are interested in Haas or another top-tier business school. Check out our MBA Services Packages to give yourself the edge and get ACCEPTED!

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Related Resources:

• Berkeley Haas MBA Class of 2022 Profile
• MBA Life at UC Berkeley Haas, From Its New Executive Director of Admissions, podcast episode
• UC Berkeley Haas MBA Essay Tips & Deadlines

The post UC Berkeley Haas Expands Deferred MBA Program appeared first on Accepted Admissions Blog.

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Learn what’s new at Berkeley Haas, as well as tips for crafting admissions-worthy applications. [Show summary]

Eric Askins, the newly appointed Executive Director of Admissions at UC Berkeley Haas, explores the school’s full-time MBA program and its admissions policies, as well as how it’s adapting the MBA experience to COVID-19.

Interested in applying to Berkeley Haas? Read on for info about special programs and application advice. [Show notes]

UC Berkeley Haas has a new Executive Director of Admissions: Eric Askins, formerly Haas’s Senior Associate Director of Admissions. He’s here today to explore Haas’s full-time MBA program, as well as how the school is adapting to COVID-19.

Can you give an overview of the Berkeley Haas full-time MBA program for those listeners who aren’t that familiar with it and focus on its more distinctive elements? [2:37]

The first place to start is our location. Based in the San Francisco Bay area, our program is incredibly close to the center of innovation that exists out here. I think some of that is probably evident if you look at our outcomes. Berkeley Haas has graduates in tech. About 15 to 20% of our students each year are going into startups. But if you were to ask us for the most defining feature of our program, it’s likely our defining leadership principles (Question the status quo. Confidence without attitude. Students always. Beyond yourself.). It’s a set of culture-forward initiatives that we have here, about 10 years old now, that really hold our core values up-front. You’ll find, I think, very few programs that lead with values, and we’re certainly one of them.

What’s new at Berkeley Haas (other than lockdown, the pandemic, and smoky air)? [4:08]

Certainly, all of those things are new, and they are challenges. But there’s a silver lining in there too. Let’s talk about some of our academic programs first. Chief among the things that we launched in pilot mode last year that are truly new this year are a joint degree with our school of engineering, an MBA/MEng program. This program is two years, so no additional time. It is a cohort model that is part of the MBA cohort, so it doesn’t operate separately, which is really a great opportunity to continue to stay connected with the broader community here at Haas. Additionally, the students select from among seven different engineering programs to really give you that niche opportunity that you might be seeking and give you the skills that you need to take advantage of some of the great opportunities that exist in the career world.

You can go, let’s say, into electrical engineering/MBA, artificial intelligence/MBA, all kinds of different engineering specialties, including nuclear engineering, if that’s what you’re looking for. Chemical engineering. We took a nuclear engineer this year. This program launched in pilot mode last year. We didn’t recruit heavily for it. We simply listed it on our website. We are beginning to look at expanding it. We now have a cohort of about 30 students, 15 in each class here. There is a community. Although it’s new, it’s new with a community, which we think is really essential. Again, we’re very community-focused here at Haas, and we want you to be learning alongside others and learning from others as well as from our faculty.

How do you see the MBA/MEng program growing for the entering class of 2021? [6:00]

I think 15 feels like a pretty healthy number for us. We may move it up to 20 if we see qualified candidates in and around that space. We probably won’t move it beyond that. We have a successful joint degree already with our MBA/MPH, which is a master’s in public health. That’s been running for about 10 years and has an incredible community around it, and we typically don’t go over about 20 students in that group either. The goal here is not to create little segments of the MBA, but really to add value to the whole.

What don’t people know about Haas that you would like them to know? [6:36]

What’s known about our community is that a broad array of students come to this campus from multiple regions of the world and with diversity of perspective, personal backgrounds, and experience. And yet our outcomes seem to look very narrow to certain segments of the community. In fact, a lot of folks look at us and say, well, that school is very tech-heavy. Located in Silicon Valley, there’s that opportunity there, and certainly about 30% of our students are going into that space, but that leaves 70% of our students that are going into a wide variety of different things. Oftentimes, we find it difficult to raise those up in terms of visibility because entrepreneurship leads or tech leads. But you know, of course, as a top business school, consulting is a factor here. Sustainability, finance. We probably don’t talk about finance enough. We’re not in the conversation in some cases when it comes to schools that are considered finance schools. And yet the data that I see shows that our inroads for investment banking on the West coast are huge.

Approximately what percentage of the class went into investment banking? [8:09]

In terms of the percentage of the class and finance, about seven or eight percent of the class each year go in that direction. But if we flip the script there and take a look at the number of opportunities that are available in investment banking on the West coast, as I’m looking at internship data over the last couple of years, we’re holding about 20% of the market share when it comes to internships in investment banking out here. And every major investment banking institution has a West coast office located here in the region. In fact, if you want to look at where the IPOs are happening, where the big M&A is happening, it’s happening out here.

How can prospective students engage with the Haas community, given the fact that everything is virtual now, and the community can’t go to them, and they can’t go to the community? [9:35]

You hit upon exactly the right word, which is “community.” As a culture-forward, community-oriented program, this was the main challenge. We began exploring this back in March and April of this past year, along with other programs. I’m sure we weren’t alone. We feel that we’ve hit a nice stride with this. We have created opportunities for folks to engage with our admissions team through Q&A sessions with admissions officers. It happens twice a week. We have our virtual recruitment events where we are “traveling.” We are engaging with folks at different regions around the globe, through partner organizations, through our own events. Our students made themselves so available through a number of different platforms, including Slack, including Zoom. Specifically, they’re available through coffee chats that can be scheduled by any prospective student by just going to our Haas student ambassadors page, selecting which Haas student ambassador they want to talk to (their bios are listed there), and then scheduling one-on-one or small group time, depending on the amount of interest that’s available.

What I love about this is if you look at the silver lining on this, we were getting touch points only for folks who could make it to an event or who could travel all the way to the Bay area to visit with us on campus. We’ve seen an increase in the number of people that are getting one-on-one time with our community simply by being virtual. And by virtue of that, we’ve gotten opportunities to connect broadly with regions of the world that we didn’t travel to regularly. It’s really been a great opportunity for us to get to know the community out there who are interested in Haas and be able to deliver a one-on-one or a small group connection.

How has the coronavirus affected the Haas MBA experience? [12:04]

It’s been challenging. I’ll be honest with you. In June of this year, we announced a hybrid model program. That hybrid model was to entail small groups, which we defined as “pods,” shifting through campus at various intervals to keep within the health guidelines and regulations. By the start of our semester, the health circumstances here in our region of the world had deteriorated, and we were forced to shift to a completely remote model. Now this has been challenging, absolutely. We invested heavily in the technology to deliver our academic programming at the level that our students felt comfortable with, but it is the co-curricular and the personal engagement where we’ve struggled.

Now, I’m excited to share that we are finally in a phase in our health guidelines in our region where we can begin the process of bringing people onto campus in small groups. That phase we hit this past Tuesday. We’re excited for that, and we’re looking forward to what those phases will look like. They will not be as robust as we initially intended as we stay within the health guidelines that are in our area. But we’re excited, and our student body is excited. Everyone is anxious to connect again.

Let’s move to the application process. The Haas application has essays. It requires a resume, interview, and letters of recommendation. What is the purpose of those different elements? [13:50]

We start with the student’s story, their narrative. Where are they in their life today, their career, their motivations, their personal life, and where are they going to? Within that narrative, we see each of these components of our application as the structural elements of that narrative arc, the scaffolding. If you look at our essays this year, our first essay is asking you, “What makes you feel alive while you’re doing it and why?” It’s a personal essay. We’re seeking to understand your motivations. What’s driving you towards your future goals?

Our second essay is a leadership essay. It specifically asks for an opinion. What do you think the future of leadership holds? We are at an inflection point. We were framing this question as an inflection point based on the decade, because it’s a nice line to draw in the sand and say, “This is looking back. This is looking forward.” But even further, with this pandemic, this is a moment in time where business is going to look different in the future. We’re asking folks with that second essay, what does the future hold? Where are you heading? How do you see yourself in it?

If we started with the beginning, and we’re settled there and where you’re headed, everything in between is the structure that supports that narrative. That resume, that work experience, they give us an opportunity to understand the professional experiences that have triggered those motivations, that have supported those initiatives, that have built the skills towards your future goals.

When we come to the academic section, how have you demonstrated through your application the academic rigor necessary to manage our program? What are those indicators? What do those look like? We navigate those spaces in a holistic fashion. And by that, I mean, if within your standardized testing, you’re not demonstrating strong understanding of quantitative ability, but your professional experience is chock-full of data, work, and analysis, you have that quantitative exposure. We’ll look there, and we’ll look in the counter as well. If your professional experience does not demonstrate supervisory, but you demonstrated leadership attributes through extracurriculars or through clubs and initiatives that you participated in during your undergraduate, it adds there. I think to your point earlier, the candidates look at the application in a linear fashion. We pull that completely apart within our review process. We find that narrative journey that the candidate has shared with us, and we plug these pieces in where they fit. How do they support this narrative arc?

What is the most common mistake that you see in the applications that you review? [17:06]

I would say it comes down to that same narrative journey, but I’ll put it in the reverse. Candidates will look at our essays and they will wonder what we are looking for. If you don’t do that first step of self-reflection, “What story do I want to tell?”… You have to do some self-curation as well because all of us hold multiple identities and we seek to accomplish multiple goals. But we want to tell one story in this application. If you’re seeking what you think we’re looking for, already you’re starting in a false place. It’s almost impossible to construct a narrative that’s complete if you’re not starting from that first space of self-reflection and curation.

That curation shouldn’t bring you down to the elevator pitch. We’re not looking for the one-liner. There are over 300 words that you can give us in each of our two essays, 600 words in total. That doesn’t even account for all the free spaces within our application. There is space for you to tell us the multiple dimensions of who you are. But what we ask is that you provide a unified story across those dimensions.

In light of the pandemic and the crazy end to last year’s admission cycle (that never ended), are you going to read applications with a slightly different perspective, looking or weighing certain qualities more or less than in previous application cycles? [19:13]

Each year, we review our essay questions. This year, we spent a lot of time with our leadership essay, trying to decide whether or not we were going to explicitly aim towards asking a question about what people did during this particular period in time. We chose not to do that because not every story is for telling. Some stories are personal. Some stories are not appropriate for business school, and not everybody may feel that they have the same type of experience during this time. What we do know is that this is one of the few times where there has been a globally shared experience, where every person who is interacting with others in the universe is experiencing some effect of this experience.

We’re hopeful that in that process of self-reflection, our candidates will look at the leadership attributes and those defining leadership principles that we’ve got them written all over our application on our website, and carved into the cement outside of our campus, that they’ll look at those frames and look at this personal experience and see opportunities to reflect on some of those leadership principles. Whether or not they were in a leadership role or not, everyone has been called upon to be resilient in some way, shape, or form during this period of time. We’re going to be looking for that in the application. We’re going to be looking for people to tell us true and honest stories about their experiences. It would be surprising for us if folks don’t incorporate some component of what this experience has been for them.

What about applicants who can’t take the GMAT or GRE, in China or Iran? Do you have any plans to go test-optional? Or if you don’t, what should they do? [21:11]

I appreciate this question. We have certainly thought about it often at Haas. What does access mean, and how do we provide an opportunity for others? In the short-term, what we’ve done is extend our submission deadline for testing in our round one. Our round one deadline was September the 24th. We allowed students until October 15th to submit a test as we closely monitored the testing availability around the world. Through the data that we’ve looked at, it seems that many of the regions of the world do have some access to testing, although limited, although there are certain other complications there. And so at this time we are considering a test waiver.

Can you touch on the accelerated access admissions program at Haas? Who is it for, and how can one get in? [22:11]

How can one get in? That is the million-dollar question. I’ll start with who it’s for. As I’ve mentioned earlier, we ran some pilots last year. Odd year to run a pilot, to be honest with you, with everything else going on. But what I will tell you is we offered the deferred admission program, the accelerated access program, simply within the Berkeley community. If you went to UC Berkeley and you were in a graduating position, you’re either undergraduate or in a graduate school and had less than one year with work experience, you were an eligible candidate for this program. We wanted to see who’s out there, and we also wanted to teach ourselves how to read those applications. It’s a different story. We’re not looking at work experience in quite the same way. We’re offering the same essays, but the rubrics are different. 

Update: As of January 2021 Haas has expanded its deferred admissions program and is now allowing all undergraduate seniors or final-year graduate students to apply for deferred admittance to the full-time MBA program.

We want to understand the different pathways for these individuals. I will call that pilot a success. We identified some amazing candidates, and it’s time to expand. As of now, the program is offered throughout the entire UC program, the entire UC system. Any undergraduate program here in the UC system is eligible. We are in discussion about that expansion. That expansion may in fact happen this cycle, or it can happen next cycle as we begin to figure out where our resources are available and how we can deploy them.

I do want to answer this other part of your question, which is, how does one present themselves to get into a program like this? What I love about this program is instead of reading the story of what you did, we’re finding that we’re reading the story of what you want to accomplish, what you hope to do. Being as an admissions officer and reading something like that brings you so much energy. Big people have lofty goals, certainly, but achievable goals, and the way candidates present that becomes very important to us. A successful candidate to this type of program, at least within our frame, is someone who has a clear sense of what they’re hoping to accomplish and can tie that back to what is present in their application. Their academics chiefly are going to be a larger portion, just based on what we have to work with. But also what else they’ve done during their time in undergraduate. What extracurriculars have they done? Have they begun taking steps towards this future goal? That all becomes part of the analysis for us.

In terms of the deferred admit program, when you’re talking about goals, are you talking mostly about the period before they go for the MBA? Or the period after they get their MBA? [25:24]

The question that we ask is about the period after the MBA. We do an interview for all candidates for that program. In those interviews, we go into a little more in depth about what they’re hoping to do in the time in between or what jobs they may have secured during that period of time, what they’re hoping to accomplish. They tend to, again, build a narrative for us, and it should be cohesive.

We lean into storytelling heavily within our academics, within our career management group. Storytelling is client relations. Storytelling is interviewing. Storytelling is selling yourself and getting yourself in the best position. 

What would you say to potential applicants who want to apply this year who might feel they’re ready but are concerned about graduating into a weak economy or applying when deferrals have shrunk the number of available seats? [27:13]

That’s a challenging position for folks to be in: to decide, is this the time? I’m going to counter that and say that if the concern is a challenging economy two years from now, there’s an increased benefit to retooling and re-skilling and putting yourself in the best position to succeed. If the economy is in a challenging position, I think that’s going to affect folks differently based on the tools that they have and the skills that they have. And certainly here at Haas, we’ve put a lot of work towards ensuring that we are educating folks with that in mind, to navigate that new economy.

As far as the chances of being admitted in a timeframe in which there’s an increased number of applicants, I think that’s certainly the case. Applications to business school run counter-cyclical to the economy, so we do see a ton of that, an increase in the number of applications. We’ve seen it in our first round. But qualified candidates will always be under consideration. We make sure that we’re looking at opportunities, and if applicants are coming with strong candidacy, they’re going to have an opportunity here at Haas. In terms of the deferred program, those who deferred, we did a case-by-case basis this year. We didn’t do a blanket deferral. While we do have a larger number of deferrals than we’ve had in prior years, we don’t have a huge number to absorb as some other programs might.

What advice would you give to someone thinking ahead to a fall 2021 application, those that don’t feel they’re ready now? [29:56]

I think if you’re looking ahead towards business school, you have the benefit of understanding what business schools are looking for and how you might strengthen your opportunities when you do decide to apply. Within the professional sphere, I encourage folks to look at where progression and job growth can exist. Again, there’s some limitations based on the way the economy looks today. The other space that I encourage folks to look at is, if they’re thinking of a career pivot, this is the opportunity to test the hypothesis. Either through volunteer work, through small projects, maybe through communities and networks that they have, take a close look at what you might think about pivoting into and ensure that you’re aligned, that there is not just a return on investment but a return on fulfillment for those types of opportunities because we do seek clarity of purpose in our review process. We hope that you’ve done that work, and sometimes it takes some time. You may not get it right on the first time, and this is a great opportunity to test it.

What would you have liked me to ask you? [31:14]

I would love to be able to share a little bit about what our community has done during the time of this pandemic with Haas faculty academics. We started a speaker series, New Thinking in the Pandemic. We’ve run this about monthly for a few months now. It’s an opportunity for academics within our community, both our faculty and members of our alumni network, to share ideas on how we’re navigating this new world. Leadership in times of crisis. Taking advantage of our executive programs. Unfortunately, we’re not able to deliver some of their executive education due to the constraints of coming to campus, but we’re offering some of them within the free speaker series. You have the opportunity to think about how you lead teams that are dispersed or remote. We think that’s an incredible opportunity to begin to unpack what the future is going to look like and how we might leverage that. Members of our alumni network and members of our student community are actively engaged in supporting others during the time of this pandemic as well.

A recent grad from our program, Elisse Douglass, started a business, originally started as a GoFundMe for relief for Black-owned businesses in Oakland. It has now shifted to an investment vehicle to grow entrepreneurship within Black-owned businesses in Oakland. This is a reflection of the challenges that face small businesses during this time of pandemic when things are closed. Many of our current students are engaged in volunteer activity for communities outside that are challenged. I was really moved by this. Our admitted students who were not able to come to campus were able to create a sense of community during this summer, before they joined campus, including building out Haas swag Instagram filters, the opportunity to put a hat on or a glove on or a scarf on that you wouldn’t otherwise have been able to do because you can’t come to campus. The vendors are all closed, and we can’t produce these items the way we would have and to send them out to folks. It was student-driven, entirely admitted students who felt pride in the institution and wanted to share that with their community and their peers. I love the innovation that this has brought about and the sense of reinvesting in our communities.

Where can listeners and potential applicants learn more about Haas’s full-time MBA program or some of the other programs that we discussed? [34:34]

If you’d like to learn more, you’re welcome to visit us at Hass: haas.berkeley.edu.

Related Links:

• UC Berkeley’s website
• UC Berkeley Haas MBA Essay Tips & Deadlines [2020 – 2021]
• Berkeley Haas MBA Class of 2022 Profile
• MBA Deadline Updates: How Will COVID-19 Affect the MBA Application Process?
• Leadership in Admissions, a free guide
• Accepted’s MBA Admissions Consulting Services

Related Shows:

• What MBA Students Can Expect at UCLA Anderson
• What Prospective MBAs Should Know About Applying to Michigan Ross
• Michigan Ross’ Brand-New Online, Part-Time MBA
• How the ESADE MBA Program Aspires to Make a Positive Impact
• Toronto Rotman MBA: The Spike Factor
• NYU Stern: An Insider’s Perspective on Getting Accepted
• How to Present a Winning Wharton Application

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The post MBA Life at UC Berkeley Haas, From Its New Executive Director of Admissions [Episode 391] appeared first on Accepted Admissions Blog.

With the unprecedented reality of a worldwide pandemic, it is reasonable to be concerned about the MBA admissions process. Universities have emptied out their campuses, and both students and teachers are rapidly trying to adjust to remote learning and a host of other modifications in traditional education. Additionally, job prospects are dwindling as the economy dips and layoffs begin. The lack of clarity around MBA programs with deadlines in summer 2020 or fall 2020 can be anxiety-provoking, so here at Accepted, we want to provide you with the best guidance possible as you consider your application options.

You’ll find below a roundup of MBA deadline extensions and changes. Check back soon for more advice and insight into pursuing an MBA during the current health crisis.

<< How Will COVID-19 Impact Your Admissions Journey? [Watch the Webinar] >>

Surveying the deadlines

Here’s what you need to know: [Please note that this list is not all-inclusive, and that the schools listed below may change their policy again in response to change circumstances; please check school websites for updates.]

Chicago Booth

The Chicago Booth Round 3 deadline remains April 2, 2020. However Booth will continue to accept applications through May 31, 2020 with decisions released on a rolling basis.

For all Round 3 applicants, test scores can be submitted as late as July 1, 2020. Admissions decisions will not be made until the score is received.

Check out Chicago Booth’s website for more information.

CMU Tepper

CMU Tepper is waiving application fees through July 31st and is accepting applications on a rolling basis from June 1 – July 31, 2020. They are also allowing applicants with “robust quantitative backgrounds” to apply without a GMAT or GRE. (They will need to meet other requirements to start and stay in the program.)

Check out CMU Tepper’s website for more information.

Columbia Business School

The deadline for August admission at CBS has been extended to June 1, 2020. The deadline for submitting test scores has been extended to July 1, 2020.

Check out Columbia Business School’s website for more information.

Cornell Johnson

Johnson is maintaining its application submission deadlines, but allowing applicants to submit test scores later.

• One Year MBA Applicants: Application deadline is April 15, 2020. Test scores must be submitted by April 30, 2020. If not, your application will be moved to the 2020-2021 application cycle.

• Two-Year MBA Applicants: The application deadline is April 8, 2020. You will have until June 1, 2020 to submit your test scores. If you are unable to do so, your application will be moved to the 2020-21 application cycle. 

Check out Cornell Johnson’s website for more information.

Dartmouth Tuck

Tuck is maintaining its Round 3 deadline and adding a Round 4 this year for applicants who need additional time. Round 4 will work on a rolling basis, and applicants can submit any time between April 1 – June 1, 2020.  The applications will be processed as they come in, and Tuck will provide decisions within “several weeks” from submission from May 11 – July 1, 2020.

Tuck’s criteria and required materials, including required test scores, are unchanged.

Check out Dartmouth Tuck’s admissions blog for more information.

Duke Fuqua

Duke Fuqua’s new Round 4 application deadline is May 19, 2020.

Duke has also postponed the orientation start-date for the Class of 2022 by approximately one month in response to the pandemic.

Check out Duke Fuqua’s website for more information.

Georgetown McDonough

Georgetown has relaxed its testing requirements and added a rolling admissions deadline of June 24 (following it’s Round 4 deadline of April 27th).

Check out Georgetown McDonough’s website for more information.

Harvard

The deadline for Harvard Business School’s 2 + 2 Round was postponed to June 1, 2020 in light of COVID.

Accepted Harvard Business School students have the option to request a deferral to start their full-time MBA studies later than this fall. Deferral requests must be made between May 15th and June 1st.

Check out Harvard Business School’s website for more information.

Indiana Kelley

Kelley will accept applications from domestic candidates on a rolling basis after its April 15th deadline.

Applicants who were unable to take the GMAT or GRE are welcome to submit their applications. Final admissions decisions will be made once test scores are received by the school.

Check out Indiana Kelley’s website for more information.

Kellogg

There are currently no delayed start dates for any of Kellogg’s programs. Decision release dates are similarly unchanged. Day at Kellogg for newly admitted students will take place virtually instead of in person.

While Kellogg’s Round 3 deadline of April 8, 2020 still stands, it will accept applications on a rolling basis through June 1st. (Applicants who submitted by the Round 3 deadline will receive admission and scholarship decisions on May 13th.)

Updated April 14: Kellogg is waiving the GMAT/GRE/TOEFL/IELTS requirement for those applying to Round 3.

Those who were either waitlisted or denied in Rounds 1 or 2 will be able to submit an appeal to have their application reconsidered.  Kellogg will provide instructions on how to file the appeal “in the coming days.”

Check out Kellogg’s website and admissions blog for more information.

Michigan Ross

Ross is extending its Round 3 deadline. Soojin Kwon wrote: 

“The priority deadline will remain March 30, but we will accept applications until May 29. Applications received after the priority deadline will be evaluated on a rolling basis. International applicants are highly encouraged to apply by the priority deadline.”

Applicants taking advantage of the extended deadline are reminded that scholarship funds are still available.

Ross is accepting applicants without test scores, though scores must be received by the program before a final admission decision can be made.

Check out Michigan Ross’s website for more information.

MIT Sloan

MIT Sloan has added an Extended Round 3 Deadline and will accept applications until June 15, 2020 on a rolling basis.

Check out MIT Sloan’s website for more information.

NYU Stern

The March 15 deadline has been pushed to May 1st, 2020. International applicants should strive to apply sooner to allow time for visa arrangements.

Check out NYU Stern’s website for more information.

SMU Cox

SMU Cox is waiving the GMAT/GRE requirement for all graduate programs beginning May 2020 and August 2020. It’s also extending its deadline to August 2, 2020 .

Check out SMU Cox’s admissions blog for more information.

UC Berkeley Haas

Haas is opening a new Extended Deadline of May 4, 2020. Applicants for this deadline will receive decisions on June 4. 

Haas has also announced the launch of The Cal Advantage Program, which will enable UC Berkeley seniors and alumni of all undergraduate and graduate programs to apply to Haas for fall 2020 entry. Cal Advantage applicants will enjoy a shortened application process, featuring one essay, one recommendation and optional test scores. Applicants to this program must apply in May or June of 2020 (click here for more info).

Check out UC Berkeley Haas’s admissions blog for more information.

UCLA Anderson

UCLA Anderson extended its application deadline to June 1, 2020.

Check out UCLA Anderson’s website for more information.

UNC Kenan-Flagler

UNC Kenan-Flagler will delay start of its full-time MBA program to August 31, 2020. It has also extended the Round 4 deadline through July 13th. Decision will be made on a rolling basis. 

Check out Kenan-Flagler’s website for more information.

UVA Darden

Darden is transitioning to rolling admissions for the 2019-20 application cycle with a final deadline of July 15, 2020. The sooner you apply, the sooner you will receive Darden’s decision.

UVA Darden already accepted any graduate admissions exam including the GMAT, GRE, LSAT, and MCAT. In light of COVID19 and closed testing centers, it will evaluate your application with an ACT or SAT or country-specific university entrance exam.

It encourages you to apply even if you are missing one or two elements in your application. Darden will begin the evaluation process, but hold your application until all elements are submitted. 

Check out UVA Darden’s admissions blog for more information.

Wharton

Wharton extended the Round 3 and Advance Access application deadlines to:

– Round 3: April 15, 2020

– Advance Access: May 27, 2020

Round 3 and Advance Access applicants can submit applications without having sat for a standardized test. However, if you do have scores to report, please do so.

Check out Wharton’s website for more information.

Yale SOM

Giving Round 3 applicants an extra ten days to submit their test scores. So if you submit your application by SOM’s Round 3 April 14 deadline, you will have an additional 10 days to submit your GMAT/GRE scores (until April 24). You will receive an answer by May 19.

In addition, Yale SOM is adding a Round 3 Extended deadline of May 27, 2020. You will receive an answer in the second half of June.

Check out Yale SOM’s admissions blog for more information.

We’re going to do our best to keep the changing deadline information current. However, please do not rely on this post; confirm the deadlines yourself because the situation is so fluid.

In addition, if you find out a school has changed their deadlines and is not on the list, please let us know by emailing blog@accepted.com.

The consultants at Accepted are here and ready to help guide you! All of our experts are available to work remotely and business is in full swing in spite of the current global circumstances. Check out our services and let us help you get accepted!

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With 30 years of career/admissions experience at four universities, including Cornell’s Johnson Graduate School of Business and College of Engineering, Dr. Karin Ash has met with thousands of recruiters seeking to hire the best students from leading schools. She has served as a member of the admissions committee, ensuring that the applicants who ultimately enroll are a good fit for the program and prime candidates for employers. Karin has been a Consultant with Accepted for 8 years and has facilitated students’ entry into top engineering, data science, MBA, and other STEM graduate MEng, MS, and PhD programs. Her clients have been accepted into MIT, the University of Chicago, Harvard, Stanford, Columbia, UPenn, and USC. Want Karin to help you get Accepted? Click here to get in touch!

Related Resources:

• Get Your Game On: Prepping For Your Grad School ApplicationGet Your Game On: Prepping for Your Grad School Application, a free guide
• How to Write Your Master’s in Engineering Statement of Purpose
• How This Student Got Accepted to MIT’s Engineering Program and Landed a Job at Apple, podcast Episode 460

Related resources:

• School-Specific MBA Application Essay Tips
• How Will Coronavirus Impact Testing? [GRE, GMAT, LSAT, MCAT, ACT, SAT, TOEFL]
• 7 Steps to MBA Acceptance in 2021, free webinar

The post MBA Deadline Updates: How Will COVID-19 Affect the MBA Application Process? appeared first on Accepted Admissions Blog.

The U.S. News 2023 ranking is now live! Click here to check it out >>

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U.S. News just released its 2021 ranking of full-time and part-time MBA programs. The rankings are based on expert opinions about the quality of each program and statistical indicators that calculate the quality of a program’s faculty, research, and students. The reputation surveys were sent to academics and professionals in fall 2019 and early 2020. This year, for the first time, the specialties of business analytics, real estate, and project management are ranked.

In order to rank each school. U.S. News assessed the data for each quality indicator and then standardized the value of each indicator about its mean. Each indicator has a weight assigned to it, which indicates U.S. News’ judgment about their relative importance, after consulting with experts in the field. 

<< Are you competitive at your dream school?
Check out the Selectivity Index to find out! >>

These final scores were rescaled to give the highest-scoring school a score of 100, with the other schools’ scores recalculated as a percentage of the top score. A school with a score of 100 did not necessarily receive the highest score on every indicator, it merely accrued the highest composite score.

Highlights of the 2021 MBA Ranking

• The biggest news of all is that Harvard Business School slipped down to sixth place this year from third in the 2019 full-time rankings. 
  
  
• Stanford University gained a position this year to tie the University of Pennsylvania for the top slot for full-time MBA programs. 
  
  
• Northwestern University jumped from a three-way tie for 6th place last year to a two-way tie this year at #3 with the University of Chicago. 
  
  
• New York University broke into the Top 10 this year, jumping from a three-way tie for #12 to the #10 spot. 
  
  
• Further down in the rankings, North Carolina State University leapt more than 30 spots, from a tie at #85 to #52 this year.
  
  
• Chicago Booth maintained the top position among part-time MBA programs. 
  
  
• Also in the part-time rankings, the University of Washington joined the Top 10 this year, rising from a two-way tie at #12 to #10 this year.  

2021 Top 10 full-time MBA programs

Rank	School	Location
1	Stanford University	Stanford, CA
1	UPenn Wharton	Philadelphia, PA
3	Northwestern Kellogg	Evanston, IL
3	Chicago Booth	Chicago, IL
5	MIT Sloan	Cambridge, MA
6	Harvard Business School	Boston, MA
7	UC Berkeley-Haas	Berkeley, CA
8	Columbia Business School	New York, NY
9	Yale SOM	New Haven, CT
10	New York University Stern	New York, NY

2021 Top 10 part-time MBA programs

Rank	School	Location
1	Chicago Booth	Chicago, IL
2	UC Berkeley-Haas	Berkeley, CA
3	Northwestern Kellogg	Evanston, IL
4	NYU Stern	New York, NY
5	UCLA Anderson	Los Angeles, CA
6	Michigan Ross	Ann Arbor, MI
7	UT McCombs	Austin, TX
8	Carnegie Mellon University Tepper	Pittsburgh, PA
9	Indiana Kelley	Bloomington, IN
10	Emory Goizueta	Atlanta, GA

Would you like to be a member of the class of 2022 in one of these top programs? Check out our MBA Admissions Consulting & Editing Services and work one-on-one with an expert consultant to create an application that will get you ACCEPTED!

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Related Resources:

• The Ultimate Guide to Becoming a Competitive MBA Applicant, a free guide
• Business School Selectivity Index [Can I Get Into My Dream School?]
• Do MBA Rankings Matter?

The post U.S. News Announces 2021 Ranking of Best MBA Programs appeared first on Accepted Admissions Blog.

Harvard Business School has taken the top spot away from Stanford Graduate School of Business in the Financial Times 2020 global MBA ranking. 

Although the Financial Times ranking is designed to favor non-U.S. programs, 15 of the top 25 MBA programs are based in the U.S. This result comes despite the decline in applications to U.S. MBA programs – now in its sixth straight year.

The 2020 top 5 schools have not changed since last year, although their rankings have. Following Harvard are: #2 – University of Pennsylvania’s Wharton School (up 2 spots); #3 – Stanford Graduate School of Business (down 2 spots); #4 – INSEAD (down 1 spot); and #5 CEIBs in Shanghai, China (unchanged). 

Volatile rankings

Financial Times global ranking methodology is based on 20 different metrics, including some that are inclined to favor non-U.S. schools. Some metrics that add to a school’s position include the percentage of students, faculty, and trustees who possess passports from a country where the school is not located, whether students and alumni worked in foreign countries, whether students had international class experience, and whether the school has a requirement to learn an additional language before graduation. 

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A new metric was added this year – Corporate Social Responsibility. This metric has a weight of 3%, and is based on the percentage of teaching hours from core courses devoted to CSR, ethics, social, and environmental issues.  

The FT’s most heavily weighted metric is salary data (40%). its use of “purchasing power parity”, or PPP  favor schools whose grads go to work in countries with lower cost of living. This hurts U.S. schools since most grads of U.S. MBA programs want to live and work in the U.S. 

The ranking does not take incoming student quality into account. GMAT and GRE scores, as well as undergraduate GPA’s, are ignored. 

<< Watch: Linda Abraham and Marco De Novellis of BusinessBecause discuss the value of MBA rankings >>

FT’s ranking is known to be volatile, which reduces its credibility because there are few year-to-year changes at schools that explain big changes in the rankings. This means that there were big winners and big losers again this year. 

Twenty-seven of the 91 returning b-schools had double-digit increases or decreases in their standings. Fully half of the MBA programs ranked by FT five years ago (39 of 78) have felt double-digit changes, and 23 of those changes have been adjustments in 20 or more spots.

Top 25 International MBA Programs

2020 Rank	School	2019 Rank	Y-O-Y Change
1	Harvard	2	+1
2	UPenn Wharton	4	+2
3	Stanford GSB	1	-2
4	INSEAD	3	-1
5	CEIBS	5	---
6	MIT Sloan	8	+2
7	London	6	-1
8	Columbia	9	+1
9	HEC Paris	19	+10
10	Chicago Booth	7	-3
11	Northwestern Kellogg	14	+3
12	UC-Berkeley Haas	10	-2
13	IESE	12	-1
14	Yale SOM	11	-3
15	Nat’l Univ. of Singapore	17	+2
16	Dartmouth Tuck	15	-1
17	Duke Fuqua	19	+3
18	Virginia Darden	23	+5
19	Cambridge Judge	16	-3
19	Hong Kong UST	18	-1
21	Oxford Said	13	-8
22	New York Stern	25	+3
23	Cornell Johnson	27	+4
24	ESADE	21	-3
25	IMD	22	-3
25	UCLA Anderson	26	+1

Do you see yourself in one of these top international programs? Find out how working one-on-one with one of our Admissions Consultants can help get you ACCEPTED!

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Related Resources:

• Navigate the MBA Application Maze: 9 Tips to Acceptance, a free guide
• Top MBA Programs Get STEM-Certified to Attract Int’l Students
• B-School Selectivity Index: Discover the Schools Where You are a Competitive Applicant

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