Ask The School Expert

I am considering who to approach for letters of recommendation and wonder...what are some of the things I should think about?

Glenda M Lucas — Mon, 30 Jan 2012 15:32:00 GMT

Provided by Pat Harrison, Associate Director of Admissions at the Tuck School of Business at Dartmouth

Dartmouth University, Tuck School of Business http://www.tuck.dartmouth.edu/admissions/

Letters of recommendation provide the committee insight into your career success/potential, as well as your personal and professional strengths and weaknesses. It is the only part of the application not completed by the applicant – but that doesn’t mean that you can’t influence the letter. By picking the best recommenders to make your case and giving them some guidance, you can have a lot of impact on your recommendations.

Who to pick? Typically, an immediate supervisor - someone who has worked with you closely and can speak to your work experience. Resist the temptation to select the CEO or head of the company, especially if he/she has had little direct contact or interaction with you. It is more important to have someone who has worked directly with you.
In the event that you don’t want your supervisor to know you are applying, a client, previous manager, or contact from an extracurricular organization can be a good option. If you are not providing a letter from your supervisor, we suggest you include an explanation in an optional essay so we do not assume that it is because you don’t have a good working relationship with him/her.

We do not recommend asking family or friends. If you work for a family business, and your supervisor is a parent, consider asking a client, customer, or non-family member in the organization to write a letter for you. Likewise, we do not recommend asking a professor to write the recommendation as they are not usually in a position to provide insight into the areas we are most interested in learning about.

Once you have selected your recommender, you should ask that person two questions: Are you willing to write a positive recommendation for me? Do you have the time to write a detailed recommendation? If his/her answer to either of these questions is “no,” find someone else to write on your behalf.

Preparing your recommender in advance is important. It should go without saying, be sure to give your recommender plenty of time to complete the letter by the school’s deadline. Take him/her out for coffee to talk about your goals and reasons for getting an MBA. Spend some time talking about your recent performance reviews, and talk about your significant accomplishments. This will help them write a more compelling evaluation because they will have specific examples to use in support of their comments. Letters that are brief and state strong feelings either positive or negative without providing examples to support the comments aren’t very helpful. Just saying “Susan is a great team player” doesn’t provide as much insight as a letter that then supports the comment with a specific example.

This is not to say that should tell your recommender what to say. The objective is an honest assessment of your skills. Occasionally, we will hear that a recommender asks the applicant to write the letter for them and they will sign their name to it. If this request is made of you, find someone else to write your recommendation. Make sure that your recommender follows the recommendation instructions for each school.
Finally, be sure to thank your recommender (profusely!).

Why is the GMAT an Important Admissions Requirement for Executive MBA Programs?

Glenda M Lucas — Mon, 16 Jan 2012 16:18:00 GMT

Anjani Jain
Vice Dean, Wharton MBA Program for Executives
University of Pennsylvania, The Wharton School

The GMAT is an important admissions requirement for several reasons.

At Wharton, EMBA students receive the same education as our full-time MBA students. This has been a principle of parity between our full-time and EMBA program since our EMBA program began 37 years ago. They are taught the same classes by the same professors for the same number of hours. Likewise, since we insist on the highest academic caliber of the students we admit, they are held to the same standards of performance and intellectual rigor. They must have the same profile as our full-time MBA students with respect to admissions criteria and academic preparedness.

The GMAT serves as an assessment tool to gauge applicants’ academic abilities; it is an important requirement for applicants to both our full-time MBA and EMBA programs to help predict applicants’ likelihood of academic success. If the score is too low, it’s a signal to us that the applicant is lacking in the required skills or is underprepared.
While it’s important to holistically look at candidates and consider other factors such as prior degrees, work and leadership experience, those are not an adequate substitute for the GMAT in terms of measuring analytical ability, reasoning skills, and aptitude.
Candidates’ willingness to prepare for the GMAT reflects their level of dedication to pursuing a rigorous graduate program.
Those whose undergraduate performance does not reflect their academic abilities have the opportunity to demonstrate that they have the skill set necessary to perform in an MBA program.
And, finally, the GMAT is a good indication for applicants of what to expect when they begin classes. By studying for the GMAT, candidates are not only preparing themselves to do well on the test, they are also preparing themselves to do well in school. And, that is ultimately what we want for all candidates – to be fully prepared to thrive in our program.

How does Tippie use social media in the application process?

Glenda M Lucas — Thu, 05 Jan 2012 14:08:00 GMT

Lydia Fine

Associate Director, Recruiting & Admissions

Tippie Full-time MBA at The University of Iowa

You’re getting ready to apply to your chosen list of top business schools. Is this the time to lock down your Facebook profile? To protect your Tweets? Maybe. If your social media “presence” was applying to B-school, what would it say about you? If you don’t know the answer to that question, you have some work to do.

Googling candidates and visiting their social media profiles is hardly rare; 27% of B-school admissions officers admit to Googling and 22% fess up to checking Facebook and other networks.

Why would a program Google MBA candidates? Two reasons. First, because employers would. A recent BusinessWeek article said “Employers have been checking the online reputations of potential hires for years, and because admissions committees are interested in the employability of the applicants they accept, it is only natural they are following suit.” Reason two: the application tells us a lot about you professionally, but it reveals almost nothing about you personally. And to the business execs who will hire our MBAs, personality matters. Looking you up on social media provides insight into the person behind the paper.

So how does the Tippie MBA use your social media presence in the admissions process? We don’t feel the need to check out a candidate’s online presence often. But there are some situations that might prompt us to seek out more information.

A resume with an unclear job description or hard-to-interpret work experience. When bullet points in a candidate’s resume are full of jargon and acronyms, we’re left wondering, “What does he/she actually do?” The job summaries on LinkedIn profiles can fill in the holes. This can also help us clarify gaps in work experience, so we’re not making guesses about someone’s work record.

When we want to find out more about a candidate we haven’t talked with. If a candidate hasn’t communicated with our admissions team before applying, or if their application leaves us with questions, we may try to find out more through social media. These situations are rare – given Iowa’s intimate class size, admissions connects with nearly every applicant in some way before they apply. But if we want to get a sense of the candidate’s interests, background, personality, etc. – social media or a Google search is a great way to get insight.

Where do you look for information? I mentioned LinkedIn, which offers up varying details depending on your common connections. If the candidate has a public Twitter, we’ll take a peek (for example, this is how we discovered that one applicant, now a first-year student here, had studied pogonology!). If Google turns up a blog or Tumblr, we’ll take a look there, too.

These can give the admissions committee a glimpse of what’s important to each candidate. Last year one applicant took a 10-month trip around the world and posted regularly to a travel blog. We had fun tracking his progress through Asia, Africa, and Europe.

Where does Facebook fit in? Luckily, nearly all Facebook-users-turned-B-school-applicants have learned that leaving their Facebook ‘Wall’ open for public consumption is a bad idea. And with 800 million user accounts (and counting), even the most unique names are represented multiple times on Facebook (there are even two Lydia Fines!). Facebook rarely reveals anything – except that the candidate had the good sense to block content from the public.

Have you ever discovered something you didn’t like? Only twice, and that alone isn’t justification to deny a good candidate. But online behavior can clue you in to a person’s judgment – something we assess in the admissions process.

The line between personal and professional is blurry now, thanks to the permeation of social media in our lives. But the moral of the story is this: do your due diligence before applying to business school. Make sure that “you, online” tells the same impressive story as “you, on paper”.

What is the difference between majoring in Accounting within an MBA program and a Master of Accounting?

Glenda M Lucas — Mon, 19 Dec 2011 15:29:00 GMT

Written by Robert Chabot, Director of Admissions, Specialized Masters Progams

The Ohio State University, Max M. Fisher College of Business, www.fisher.osu.edu/macc

If you’re looking to pursue a graduate degree in business and concentrate in accounting, what should you consider: an MBA with a concentration in accounting or a MAcc? There are a lot of Master of Accounting (“MAcc”) degrees out there and even more MBA programs. And there are differences within each type without even considering the differences between each type. Because there are differences within each type, please know that the differences I list below are generalizations for full time programs and may not always be true in every single instance.

Content

An MBA focuses on high level and broad topics, strategy being an example. In other words, MBA usually has, at its core, “business” as the principal area of study. The MBA is designed to be a general business graduate degree – the typical model is year 1 consists of core courses (marketing, accounting, finance, economics, etc.). In year 2, MBA students “major” or focus on a particular area (e.g. marketing, accounting, finance, etc.) General business is the focus in a traditional MBA with the accounting curriculum serving as an addendum to the core.
A MAcc usually has, at its core, accounting as the principal area of study. Other topics may be included in the curriculum (e.g. strategy, sustainability, etc.) but accounting is the core.

Work experience

Most MBA programs put emphasis on prior post-baccalaureate work experience as part of the admission decision.
Most MAcc programs see post-baccalaureate work experience as an added bonus if an applicant has it – but definitely not a detriment if s/he does not have it at time of application.

Prerequisite knowledge

Most MBA programs do not have formal prerequisite knowledge required for successful applicants.
Many MAcc programs have varying levels of prerequisite accounting knowledge (in the form of accounting coursework) as prerequisite to successful applications.

There are exceptions to the differences outlined above. For example, some MAcc programs (including the one at Fisher/Ohio State) require some - but not a lot - of accounting coursework prior to admission whereas others will only review applications from undergraduate accounting majors. Some MAcc programs curricula may consist of 100% accounting courses whereas others will have a lower percentage. (For example, the Fisher/Ohio State allows its students to complete up to 50% of their curriculum in areas outside of accounting.)

Just like the MBA is not the same as the MAcc, each MBA is not the same as another MBA and each MAcc is not the same as another MAcc. Do your due diligence and you will find the best program to suit your personal and professional goals.

What will it take to make me stand out as an applicant?

Glenda M Lucas — Mon, 05 Dec 2011 15:18:00 GMT

Shrim Bathey, Associate Director of MBA Recruitment and Admission

Lorry I. Lokey Graduate School of Business at Mills College (www.mills.edu/mba)

Each contact point that you have with a school is an opportunity to stand out or be remembered. But beware – you don’t want to be remembered for the wrong reasons.

Be Authentic.
The first and most important rule is to be authentic! Whether you are writing your application essay or interviewing with a member of the admission committee, make your words represent who you are and who you want to be. Too many students make the mistake of magnifying an extraneous aspect of themselves because they are reaching for a way to show that they are different – or that they fit in. Acknowledge both your strengths and your non-talents, and use that to demonstrate your readiness for an MBA. Authenticity shows that you have a certain level of self awareness, which is an important quality for strong leadership.

Know the Program.
The first thing I ask prospective students is ‘Why do you want an MBA?” and I expect a clear and focused answer. The second thing I ask is “Why do you want an MBA from Mills?” Research your schools so that you can articulate why your professional goals are aligned with what that specific B-School can offer you. Why is a socially responsible, sustainable, or global MBA important to you? If you know somebody who attended the program, it is acceptable to mention that, but be sure to discuss the relevance of that connection. Pay close attention to detail here, particularly in your essays. The last thing you want to do is write a detailed essay about one program, and submit it to a different school!

Meet the Committee.
You have numerous opportunities to meet members of the admission committee at MBA fairs, on-campus admission events, informational interviews, through social media, and via email and phone. These contacts allow admission staff to put a personality to your name, learn about your interests, and get an idea of your fit for our program. At a small school like Mills, for example, you will meet the same admission staff at each event and have the opportunity to develop a relationship with us prior to your application review. Most schools view such contacts as a heightened level of interest in the program as well. Be careful not to over contact an admission department in an effort to stand out. Remember the rule above and make sure your queries are authentic!

Good luck!

What is the value of a graduate degree in Public Policy?

Glenda M Lucas — Mon, 21 Nov 2011 15:10:00 GMT

Provided by David Eber, Director of Admissions & Financial Aid at Carnegie Mellon University’s H. John Heinz III CollegeCarnegie Mellon University, H. John Heinz III College: www.heinz.cmu.edu

Students who study public policy are driven to serve the public interest. They work in governments, non-profits, consulting firms and international organizations. They are social entrepreneurs, policy analysts, lead consultants to government and they hold public office. These graduates want to address the huge global challenges we face today. They use the same tools as their counterparts in business: quantitative analysis, economics, finance, management skills, etc., but they apply those tools to social problems. As a result, a public policy graduate is someone who can truly the change the world.

A public policy degree is a vital component when it comes to preparing future generations to tackle some of society's biggest problems. By combining public policy with management, students gain strong skills – both quantitative and qualitative – that allow them to thoroughly analyze problems and develop effective solutions.

Today's schools of public administration and public policy offer a range of degree programs to prepare you for launching and sustaining a desirable career in the field. The schools also offer mid-career and executive education programs designed specifically for the ongoing education needs of the working professional.

Degrees related to the field of public policy go by many names- Master of Public Affairs, Master of Public Administration, Master of Public Policy, or a Master of Science in Public Policy and Management.

Regardless of the name, public policy programs offer their graduates an excellent foundation for successful professional careers in the public sector, the nonprofit sector, and those parts of the private sector that supply consulting and other services to governments and nonprofits. Compared with MBA programs, the public policy degree option often is more affordable and better suited to public service. Compared with law school, public policy degrees include training in economics, policy analysis and statistics, and other vital skill areas that make the alumni competitive on the job market. If you seek a career that will "make a difference" then a graduate degree in public policy is the ideal option for you.

Similar to business schools, you will find many public policy programs provide a skills-based curriculum that integrates information technology, quantitative analysis and management skills. This combination prepares students to solve complex policy problems in all levels of government, Nonprofits/NGOs, international organizations, consulting and education. According to PublicServiceCareers.org, “These opportunities provide good pay and benefits, numerous choices of where to work in the United States and around the world, and resources for further training and education”.

A degree in public policy is an excellent option for students who want to make a difference. Whether your focus is the local community or society at large, a public policy degree provides the necessary knowledge, skills and experience to inform the next generation of impact-makers.

It's difficult to determine how much weight I should put on the rankings. What should I consider when reviewing them?

Glenda M Lucas — Mon, 07 Nov 2011 15:47:00 GMT

Written by Carrie Marcinkevage, MBA Managing Director, Pennsylvania State University, Smeal College of Business

Rankings are great to help you get an initial sense of program types, yet dangerous if used to make sweeping comparisons among schools. The most common rankings are U.S. News and World Report, Bloomberg Businessweek, Financial Times, The Economist, and new player in the field who ranks the rankings themselves, PoetsandQuants.com. In fact, John Byrne, former chief editor for Businessweek and Fast Company wrote a thoughtful blog on this very topic entitled “Do MBA Rankings Really Matter?”

Among these rankings you’ll find significant differences in what they value. Some focus on post-MBA employment timing and salaries. Others focus more on a program’s reputation among students and alumni. The most important step in reading the rankings: don’t look at the numbers until you’ve looked at the formulas. Then you’ll know exactly why one school was rated higher than another, and you can be much more discerning about what’s important to you.

One great method of making the rankings for you is to take individual sections from various rankings and make up your own. Is having a small class important to you so you have more faculty access and individual attention? Then take the columns of class sizes and make your own list. Then put in their GMATs and starting salaries to narrow down your choices. Compare back to the original rankings, but don’t let the pre-defined methodologies drive your decision.

One mistake admitted candidates make is choosing their program solely based on which school ranked highest. The first risk – what if that school drops in the rankings next year? You’ve thrown your dart at a moving target. The second risk – what if another school you overlooked is a better fit through its curriculum, culture, or core employment relationships? You may get the degree at the school you chose for the ranking, but the experience you get at a school you chose for the program itself will give you much more opportunity to grow and develop, and that will develop into a great resume and a lifetime network of colleagues.

I have a job gap in my resume. How do I approach explaining this in my MBA application?

Glenda M Lucas — Mon, 24 Oct 2011 14:36:00 GMT

Provided by Pat Harrison, Associate Director of Admissions at the Tuck School of Business at Dartmouth

Dartmouth University, Tuck School of Business http://www.tuck.dartmouth.edu/admissions/

Don’t Leave us Guessing

Over the summer I spoke with an unsuccessful applicant from last year who had a big job gap in his employment history. Now the fact that he had the gap wasn’t what was troubling to the admissions committee (we recognize that in this economy a lot of people unfortunately have found themselves in this boat), rather the bigger problem was the fact that he hadn’t addressed anywhere in his application what he had been doing during his period of unemployment. When I asked him that question, he seemed surprised and said he didn’t think we would be interested. Now, what he had been doing was actually quite compelling, but because he didn’t address it in his application, we didn’t know about it and had to make our decision based on the information we had. In this type of situation, we don’t know if the applicant is doing something amazing or if they are sitting on the sofa watching soap operas. Moral of the story: never make us guess about anything, because we may guess wrong.

The same advice it true for anything that may not be obvious from the face of your application. For example, many people are hesitant to ask their current supervisor for a letter of recommendation because they fear it might jeopardize their employment. This is not a big problem if you explain that is the reason, but if you don’t explain it, we are left with the equally realistic assumption that you don’t have a good working relationship with your supervisor. Again, don’t make us guess.

Another good example: when an applicant wants to make a major career change. Because you have probably been thinking about it for a long time, the reasons for the change may seem clear to you, but if you don’t explain them to the committee, we are left guessing. Remember, we don’t know you beyond what you put on paper.
My suggestion is after you think your application is ready to go, have someone who doesn’t know you very well read it to see if any lingering questions remain – to make sure you have connected all of the dots. If you haven’t addressed those questions, make sure you do. If that information won’t reasonably fit somewhere in the application, use the optional essay to explain. We are kind people and want to see all of you succeed, so please help us help you by providing all of the information we need to make the best case for your admission.

How do I decide between an MBA and Other Masters?

Glenda M Lucas — Mon, 10 Oct 2011 16:08:00 GMT

Written by Debra Gonda, Associate Director Argyros School of Business and Economics Chapman University

Chapman University, Argyros School of Business and Economics http://www.chapman.edu/argyros/

With the burgeoning number of MS programs, the question often arises as to whether you should pursue the MBA degree or instead go for the MS.   The MS requires fewer years of work experience for admission and, generally, is only a one year program whereas most MBA programs require at least two years of work experience and take 1 ½ to 2 years to complete. But, do they really get you to the same place? The answer is, not really.

The MS degree is designed to give you a set of highly focused skills which you can take into the workforce as a technician.   MS programs provide students with a great depth of knowledge in one specialty area, preparing graduates to go out into the workforce with true expertise in that area and do very well.    But, what happens a few years out when you want to move into a more managerial role? That is when the advantages of the MBA become apparent. Since the MS program lacks the management and leadership focus of an MBA, many MS graduates will find themselves ultimately returning to get an MBA later in their careers. In fact, because the MS programs are shorter and require less experience to get admission, some students will use the MS degree as a stepping stone to the MBA – using it to position themselves to gain admission into a top MBA program.

By contrast, the MBA degree is one of great breadth. I like to say it is the broadest degree out there. It prepares students to work in every type of industry and every size organization - from profit to non-profit, banking to high-tech, the largest corporation to one’s own start-up venture. The MBA program exposes students to all the functional areas of business and then allows the students to concentrate in the area in which they have the most interest.   It generally does not provide the depth in the chosen area that the MS does, but there is the benefit of learning to integrate all of the areas of business and take a more strategic approach. Further, the leadership and management skills gained in an MBA program follow you throughout your career. The MBA degree prepares you for your long term career, not just the first five years – in fact, in many ways the differences become more crucial as you rise in your organization, and as the employment market changes.   Statistics show that individuals entering the workforce now will change jobs/careers more than 10 times over their work lives. The MBA with its broad base of business skills and focus on leadership prepares you to change and adapt as you move through those many years of your career.

I’ve narrowed my search to a few b-schools I’d like to visit. What key questions should I ask during my visit?

Jennifer Gingras — Mon, 03 Oct 2011 20:33:00 GMT

Written by Stephen J. Skripak, Associate Dean for Graduate Programs and MBA Program Director, Pamplin College of Business, Virginia Tech

There are a lot of great MBA programs in the world, but of course you can attend only one. Most offer similar course work, dedicated faculty with deep research and/or industry backgrounds, a nice campus, and support for your job search. How, then, to choose? As I tell my students when they’re trying to decide between job offers, in the end it comes down to one short, simple word: Fit.

But how does one assess fit?

Perhaps you are looking for a very specialized plan of study, such as an MBA paired with a simultaneous degree in an engineering field. In that case, you’ll want to explore how open programs are to you expanding your studies in that direction and how they work with partner departments on campus to assist students in making it happen. You might even look for established cooperative programs between colleges.

On the other hand, you might be looking for placement into a particular field, in which case you’d clearly want to ask about the recent placements of each MBA program into that industry or career track.

Most of that information, though, can be obtained in advance through discussions with the admissions offices or reviewing websites. When visiting the campus, the key is to investigate the sense of community in the program; you’re about to spend two years on a campus and will probably retain many lifelong friends from your days as an MBA student.

Ask to talk to current students and explore their experiences in the program.
Ask about alumni involvement. Do the alumni leave and never look back, or are they engaged in things like mentoring current students or guest lecturing in MBA classes?
Take a tour of the campus and be observant. Is there a sense of energy and an “esprit de corps” among the student body? Can you see yourself spending almost two years of your life in this environment—and loving it?

The key to being happy with your choice: Know what makes you tick and find a program with matching characteristics. Every campus and every MBA program has its own personality. Finding the one that most closely matches your own is critical to enjoying your years as an MBA student.

I am a couple of years out of undergrad and am planning to pursue an MBA in the next year or two, what should I be thinking about/focusing on as I plan for an MBA?

Glenda M Lucas — Mon, 12 Sep 2011 14:22:00 GMT

Provided by Pat Harrison, Associate Director of Admissions at the Tuck School of Business at Dartmouth

Dartmouth University, Tuck School of Business http://www.tuck.dartmouth.edu/admissions/

Take quantitative classes while you still have the opportunity – an MBA program is very quantitative. If you haven’t taken many, or any, quant classes, consider taking some while you are still in school or after you graduate. Helpful classes are financial accounting, statistics, and microeconomics. Taking classes demonstrates your ability to handle the work and having familiarity with the concepts will make you a more confident student once you start business school.
If you are still in school, take the GMAT your senior year or as soon after graduating as possible. Your scores are valid for 5 years so get it out of the way while you are still in school and still in test-taking mode. If you are out of school, take it as soon as you can and well in advance of your application. If you find you need to take it again, you will have plenty of time.
Follow your passions and do what you really want to do, even if it’s non-traditional. Every year I get questions from college students asking what job they should take to get into business school. My advice is: don’t take a job just because you think it will help you get into business school. In the eyes of the admissions committee, work from one sector or profession does not have more value than another. If you do what you are really interested in and have a passion for your work, you are more likely to be successful, and that is what is important.
Develop your career. When you start working, work hard and challenge yourself. Take the stretch assignments, volunteer for leadership opportunities, take initiative and look for ways you can contribute.
Develop relationships with mentors. They are valuable advisors and there is a lot to learn from them. Plus, these are the people you will look to for letters of recommendation when you are ready to apply. You want them to know you and your talents well. As you move on to other jobs, keep in touch with past supervisors and colleagues.
Get involved/stay involved in the community. We like to see people who have been active in their communities and are likely to be involved when they get to Tuck. When you graduate and start a new job, it’s easy to get caught up in work, but try to make time to stay involved in outside activities. It’s a good outlet for you, an opportunity to develop additional leadership skills and something valued by schools.
Get your finances in order. Business school is an investment. But don’t be put off by the price tag. There are ways to finance your education. Schools offer scholarships, there are student loans available, and the return on investment is definitely worth the cost. BUT right now, work on your financial health. Save money, pay off credit cards, don’t buy an expensive car, etc. Loan opportunities may be better with a better credit history and you don’t want cost of attendance to be the deciding factor for where you can go to school.
Research schools. Do your homework to figure out which school best meets your needs. There are lots of ways to do this, and I caution you against just relying on rankings, though they are a great way to start. Talk to alums and current students from lots of different schools, attend school information events and fairs, and absolutely visit the schools you are applying to.
Give yourself time. The application process is not easy and should not be rushed. The things we’ve talked about take time, and you should also make time to do some serious self-reflection. What do you want from your career, your life, why do you need an MBA, why now? What are your strengths and weaknesses? How will your past experiences help you on this journey? This level of introspection really pays off when you do start the application because you will have a better sense of your personal story.

Do schools care how recently a GMAT exam was taken when evaluating candidates?

Glenda M Lucas — Tue, 30 Aug 2011 12:41:00 GMT

Written by Cristina M. Raecke, Director of Recruiting and Admissions, Graduate Business Programs, University of Miami School of Business Administration

The University of Miami requires full-time MBA applicants to have taken the GMAT within the last five years; therefore the test date is built into the evaluation model. The more recently a candidate has taken the GMAT, the more accurately the admissions team can evaluate the strength of the applicant’s current quantitative and verbal skills.

Candidates who have not taken the GMAT recently can also demonstrate the strength of their quantitative and verbal skills through their GMAT scores, however, the university will also evaluate current quantitative and verbal/interpersonal skills based on the candidate’s professional endeavors and through an interview.

It is important to note that regardless of when the GMAT is taken, the GMAT is only one tool that the University of Miami Graduate Business Programs office uses to determine how academically and personally successful an applicant will be in its MBA program. The University of Miami takes a holistic approach in determining admission by also closely evaluating the quality of work experience, academic achievements, leadership skills, letters of recommendation, and the performance in an admission interview.

What should I know about student and other loans that can help me pay for my graduate degree?

Jennifer Gingras — Tue, 02 Aug 2011 19:16:00 GMT

Written by Brian T. Lohr, Director of Admissions, MBA Program, Mendoza College of Business, University of Notre Dame

At most universities, loan opportunities can be broken down into two primary buckets: Federal Loans and Private Loans.

Federal Loans

Graduate business students have essentially two options here:

Federal Direct Subsidized/Unsubsidized Loan
Federal Direct Graduate Plus Loan

Students must fill out the FAFSA (Free Application for Federal Student Aid) to determine eligibility.

The Federal Direct Subsidized/Unsubsidized Loan (formerly the Stafford Loan) is available in a subsidized (an interest subsidy is paid by the federal government while the student is in school) and unsubsidized (interest payment is made by the student while in school) form.

Repayment begins six months after the student’s enrollment ends and generally lasts about 10 years.
Annual borrowing limits are $20,500 with no more than $8,500 coming from the subsidized direct loan.
Aggregate borrowing limits are $138,500 with no more the $65,500 from the subsidized direct loan.

The Federal Direct Graduate Plus Loan is also available and it is a non-need based loan program that is based on the student’s creditworthiness. Students are encouraged to apply for the full amount needed for the entire school year. Annual loan eligibility is limited by the cost of attendance and other financial aid the student may be receiving.

Repayment begins 1 month after graduation or when the student drops to less than half time enrollment. Generally, the Direct Graduate Plus Loan has a 10 year repayment term.
Annual borrowing limits are determined by the student’s demonstrated financial need and other financial aid rewards.
Aggregate borrowing limits are determined by cost of attendance and other financial aid awards.

Private Loans

After exhausting loan opportunities from federal aid programs, many students turn to private loan programs. Taking on loan debt should be done with a great deal of deliberation and for only the amounts needed. There are three keys to selecting private student loans—research, research, and research! The terms and conditions vary with each individual lender. Your thorough investigation and understanding of these terms and conditions will help to ensure a complete awareness of each program. Consider items such as interest rates, fees (both at the time of borrowing and during repayment), and loan limits when evaluating programs. Oftentimes a credit worthy cosigner can help to lower interest rates.

Many colleges and universities will have a list of lenders that past students have used to fund their educations. As part of the application process, you will be required to complete the Private Education Loan Applicant Self-Certification Form, which is typically provided by the lender and also may be obtained from the Financial Aid Office of each school. You can compare lender discounts and other benefits with College Board Student Loan Comparison Calculator and Loan Discount Analyzer from FinAid.org comparison tools.

I’m starting graduate business school this fall. What should I do to prepare academically?

Jennifer Gingras — Mon, 18 Jul 2011 13:50:00 GMT

Written by: Frank Fletcher, Executive Director of Graduate Programs, Baruch College Zicklin School of Business

One of the aspects of graduate management education that makes it truly unique is the diversity of academic and professional backgrounds its students bring to the program. It is the aim of nearly all business schools to enhance this diversity by continuing to blend students with strong foundations in the fundamentals of business education with students whose backgrounds are more steeped in the liberal arts, humanities, sciences, engineering, etc. Of course, this diversity also creates one of the great challenges of graduate management education: No program can expect its students to enter day one on an even playing field. Creating an academic experience that keeps those who are more technically advanced interested while responding to the needs of those with less exposure to the language of business is no easy task.

Many programs respond to this challenge by creating pre-program activities. Whether they’re called Boot Camps, Pre-Term, Quick Start, or any other variation thereof, the goal is the same: prepare students for the academic rigors that lie ahead. You’ll find that content across these programs are also very similar. Typically, these pre-programs prepare students in the areas of basic accounting, statistical analysis, and quantitative methods. Others may offer economics and finance courses that serve as introductions and refreshers.

If your program doesn’t offer or require this pre-program content, there are other ways to obtain it. If you would like a quick and fun assessment of your knowledge base, the Financial Times (FT.com) offers the MBA Gym, which provides 15-minute “exercises” in economics, financial accounting, finance, and many other areas. If you recognize that you need more training in specific areas, mba.com offers its Business Ready Collection in Accounting, Statistics, Finance, and Quantitative Methods. And there isn’t a bookstore around that doesn’t have a reference section filled with MBA preparatory titles.

What else can you do to prepare for the MBA experience?

Business Productivity Software: A certain level of fluency in Excel is expected at most programs. Don’t be too stressed if you can’t build the beautifully intricate models that are second nature to some of your classmates. But, if you have trouble building a spreadsheet, don’t understand the formulas available to you, or have no idea what a Pivot Table is, then you should invest some time this summer in becoming familiar with the Excel product. In fact, proficiency in the entire Microsoft Office Suite will make life easier. You may find that your program teaches its Statistics and/or Market Research courses in a statistical software package like SAS or SPSS. If so, it wouldn’t hurt to familiarize yourself with that software as well.

Financial Calculator: Most finance courses will require the use of a financial calculator. If your program requires a specific product, then buy it, learn it, and…well, love it. The more intimate you are with the functionality of the calculator from day one, the easier your life will be.

Read: If you’re not accustomed to reading hundreds of pages a day, then you should training yourself to be able to do so now. I have found that the students who struggle the most are not those who come in with no traditional business education, but the students who have difficulty managing the depth and breadth of the readings. This summer will be your last opportunity to read what you want to read. Take advantage of it by reading a lot. Replicate the academic experience by reading multiple titles at once and finding a book or two that doesn’t necessarily fit your area of interest.

The most important piece of advice I can offer is never be afraid to ask for help. Regardless of your preparation, you may find yourself falling behind in areas. If this happens, do not fear. But, more importantly, don’t try to get through it alone. In addition to faculty support, your classmates are an incredible resource that should be tapped into. Programs are made to be diverse so that the learning process leads students to become teachers. You’ll walk away having gained a great deal from your classmates if you’re willing to reach out.

And, remember, they will have learned a good deal from you as well.

You have been accepted to more than one MBA program. Now how do you choose?

Glenda M Lucas — Mon, 13 Jun 2011 21:17:00 GMT

Written by Gail DePriest, Director Corporate Relations & Leadership Development, Clemson MBA, Clemson at the Falls

First of all, congratulations on your decision to get an MBA! Here are two key areas to think about: will the program meet your overall learning objectives, and will it provide the support you need for achieving career success?

Investing time at each institution will help you make your best decision. In addition to your discussions with the Director of Admissions, I would suggest that you interview:

The Dean, Associate Dean or MBA Director (depending on the size of the program.) They can give you the history of the program as well as the current direction in terms of special areas study and emphasis. You want to find out what makes this MBA unique. What makes their graduates stand out?

The Director of Career Services can tell you about corporate connections and networking opportunities. Is there a career management class? What corporations hire from this program? If you are going to be a working professional, what kind of career support will be available to you in meeting your career goals? At the Clemson MBA we work diligently to know each student and create networking opportunities and job leads tailored to the individual. We also hold an annual MBA Networking Forum with key employers. We have a monthly speaker series and incorporate subject matter experts into many classes throughout the year.

Graduates of the program will give you the “skinny” on the program. They are a great resource to begin networking even before you arrive.

The Director of Student Experience will show you the facilities and introduce you to other students with similar backgrounds and interests. He/she can arrange for you to meet professors and observe classes. Students don’t always take advantage of these valuable resources.

If you are going to invest the next year or two with an MBA program, you want the best ROI and hopefully an enjoyable culture. Just like any corporation, every school has a personality. Compare your special goals and interests with what is being offered and supported in the program. The time you invest will be worth it.

All the best, and may you enjoy your journey to earning your MBA.