Self-Assessment Aids MBA Applicants

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August 05, 2008
MBA Express

NEWS  THIS WEEK'S TOP STORY Self-Assessment Aids MBA Applicants From professional exams to simply putting pen on paper, an honest self-assessment can help an MBA applicant target career choices and business school goals -Plus: What One Test Told Us   MORE TOP STORIES SPECIAL REPORT: THE BUSINESS OF COLLEGES For Leaders, Colleges Turn to Business Universities are hiring experienced corporate managers to cope with schools' growing size, complexity—and funding difficulties VIDEO VIEWS What's Next for Berkeley B-School Richard Lyons, former chief learning officer at Goldman Sachs, is a few weeks into his role as dean of Haas Business School at the University of California at Berkeley  B-SCHOOL FORUMS Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages: Getting into B-School: What Is Lack of Quant Preparation? From: VictoryMBA To: ALL I was reading some MBA blog, and according to one top school the number one reason for recieving a waitlist was "lack of quantitative preparation". What does this mean exactly? That you haven't taken enough math courses? That your job isn't quant focused enough? That your GMAT score isn't high enough? Personally, I have only taken 1 college level math course (college level trig to pass my math requirement), as I was a History major. Right now I do budget coordination for a land development firm, but as far as math goes I do pretty basic accounting stuff. If I score well on my GMAT is that enough? I take my GMAT on Sept. 8, so after that I will enroll in a Calc course. However I'm applying R1, so schools won't see my grade until it's almost time for decisions to come out. Will just the fact that I took the initiative to enroll in a math course going to help me?? Or is it useless? ------------ From: RedPhoenix23 To: VictoryMBA I've had similar questions and several of the admissions counsellors on these boards have answered them... RE: Round 1 and taking classes - mention in your optional essay that you are enrolled in X, Y, Z classes and that you will send your transcript upon completion. Initiative is what they're looking for. RE: GMAT - Aim for above 80% on the quant side. Again, the higher your score here, the less adcom will worry about your proficiency. Hope this helps and good luck on the GMAT. ------------ From: VictoryMBA To: RedPhoenix23 Thanks RedPhoenix, that helps a lot actually. I guess I will be enrolling in a calc/acct course right after I finish my GMAT! ------------ From: onmyway To: VictoryMBA Better stats and accounting, unless you're aiming for hedge funds. You will get just as many brownie points and you will either be able to place out of a course (if it's allowed) or cruise through one and focus your energy elsewhere. Anybody out there think that calculus is useful? I took it a year ago and my sense is that, in a mainstream b-school curriculum, it helps you approach marginal analysis quantitatively even though that subject will probably be treated qualitatively in class. ------------ From: teachtomba To: VictoryMBA Oh man, that scenario happened to me. I want to go into investment management but was shut out of B-school this year with the exception of getting waitlisted at Wharton (until recently). I know that my lack of quant experience did me in. I am from an arts background and only took pre-calc undergrad for my math requirement. I did mention in the optional essay that I am working on this weakness. As for the GMAT, I had 97% V and 72%Q so not much help there although I didn't think I was to far from the 80% threshold. As a reapplicant, I've been working to fix this problem. I took calc 1 last semester from a community college and will complete calc 2 next week. I was think about just going for calc 3 in the fall but people have been suggesting probability or accounting. Also, I just found out this morning that I passed the CFA Level 1 Exam so I hope that carries some weight. I will take Level 2 next June. Hopefully all this quant/finance frontloading helps offset my perceived quantitative weaknesses. I think taking calculus and probability will be very beneficial to you. ------------ From: FANATICALFAN To: VictoryMBA I think I disagree a bit with onmyway - calculus is assumed knowledge for most b-schools (in that they require it, but do not teach it), but it is not part of the GMAT. So it often becomes a focal point for adcom if they believe your quant is a bit suspect. And calculus is used as a tool in a lot of places in the curriculum, whether finance, marketing (especially pricing), operations management, etc. FF ------------ From: RedPhoenix23 To: VictoryMBA I forgot to mention this earlier, sorry. When I visited Stanford I asked about quant classes specifically, since I didn't take any in college. The admissions officer told me that they looked for Calc before others as an indicator of whether or not you could handle it. His point to me was there are many versions of statistics, and calc is straight up. So, take that for what it's worth. ---------------------------------------------------------- Getting into B-School: U.S. Brand Name Vs. International Brand Name From: amit111978 To: All Hello, I am an applicant for Fall '09. I am originally from India, but have stayed in USA for about 6 years. In the long term, I plan to return to India after getting some post-MBA W/E in US. I wonder how much importance should one give to brand name of the school internationally. I like some schools such as Tuck, Darden, but they do not have a brand name in India. Even in US, most people know the Dartmouth brand more than Tuck one. Can anyone answer? ------------ From: youngPhD To: amit111978 All around Asia, I have seen people getting impressed with H/S/W more than other names. As you may understand, the brand name could get you inside the door for a entry level job, but if you plan to join a company in a leading senior position anywhere then the HR will dig up your achievements and potential far beyond your degree. For these jobs it is more important to convince them that "You are good"!!! ------------ From: cool_mba To: youngPhD For the first door to dig us with the recruiters of MNCs, the degree from top schools ranked high in global MBA ranking like FT, Economist, BW, USNews, WSJ will be helpful. According to my friends' and my impression, FT seems to be most well known as global MBA ranking. This is my impression from my friends around though. Thanks  B-SCHOOL BLOGS View over 4,500 blogs in our MBA Blogs community today! Share your journey, meet new friends, and expand your network. Connect with MBA students, applicants and alumni from Columbia, Kellogg, Notre Dame, and more! Become a blogger today! Here's an excerpt: Biz Show: Does It Really Matter? By Andrew Musgraves Comments: 0 Stars: 0 I heard a rumor that it matters work-wise what you do when you graduate from college and before you go to business school. Does it really matter? Perhaps... What I can say with total confidence is that going straight to business school, or any masters program, right out of college is a big no-no. There is definitely a lot of personal growth that takes place in the first few years out of college which, dare I say, is the real world (sorry to my high school teachers who told me college was the real world, but I don't consider binge drinking a decent way to make a living). It's in the balance of work-life that you really gain an appreciation for the responsibility you take on when going for, and spending upwards of $100k on, a masters degree. However, the point that I struggle with is this: there are people who get into phenominal schools who have had a handful of different jobs or experience in business and, simultaneously, those who have spent their time elsewhere. Sure the businessman have a lengthy resume and something to discuss with respect to this in interviews, but might they have just been better off spending their time gaining experience elsewhere? I'd amost venture to say that, yes, just about any experience you have outside of the academic setting might be just as meaningful. (Ok, ok, so not ANY old experience). I almost regret not having spent some time traveling around the world and doing something that, though it wouldn't quite give me the 9-5 (or more like 7-7) experience of an office job, allowed me to gain a different perspective. There is a tale to be told in landing big multi-million dollar deals, but there is an equally attractive and perhaps more enjoyable story in the bilingual barganing tactics used to convince a Peruvian man to exchange housing for washing his dishes. My two cents (in hindsight, mind you): if you are going to decide what to do for a few years before going back to school, don't let the rumor about an office job dictate your choice. FOR THE FULL VERSION  WORDS OF WISDOM Admissions Directors Answer: "In an average year, how many times does the school call on its waitlist? What can applicants placed on the list do to better their chances of admission?" ------------------------------------------- We call upon the waitlist about 10 times per year. Applicants should make sure their application file is as detailed and precise as possible, and substantiates the candidate's management potential. Also, applicants placed on this list can work on some of the weaknesses the admissions committee pointed out during the review of their files. This may include improving a low GMAT score compared to the class average, improving his or her level of English (if the applicant is not a native speaker) or certain abilities such as quantitative skills. --Admissions team, Theseus International Management Institute In an average year we revisit the waitlist approximately six times. An applicant on waitlist should interview if s/he has not done so within the last nine months. Also, applicants who have engaged in coursework (e.g. statistics or calculus) can provide us with a transcript of coursework that has been recently completed. Additional letters of recommendation/support are unnecessary. --Linda Baldwin, UCLA Our waitlist normally starts around June. Candidate on the waitlist may call our Office to find out how strong his or her profile is in comparison with the rest of the pool to evaluate chances. Frankly, there is rather limited opportunity to improve his/her chance due to the imminent start of the program in the fall. --Connie Tai, RSM This really varies widely from one year to the next, depending on the applicant pool. An applicant on a wait list should try to strengthen the application in any way possible to improve his or her chances of moving into the class. --Laura Parks, University of Florida This newsletter is a FREE service provided by BusinessWeek.com. To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page. 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B-School Insider Dear Reader: Looking in the mirror is often a tough endeavor, but it can be very useful when you're contemplating business school and, perhaps, a career change. This week's lead story, "Self Assessment Aids MBA Applicants," looks at the various self-assessment tools MBA applicants can use to get a picture of who they are and hints at career direction. The tools range from sophisticated online tests to simple pen and paper exercises. Writer Francesca Di Meglio also checked out one of the online self-assessments and wrote about the results on our "Getting In" blog. Can a 40-minute online test accurately describe someone? Read the blog post and find out. Also this week, we offer the first installment of a multi-part online Special Report, "The Business of Colleges." Our initial story explains how universities are hiring experienced corporate managers to cope with schools' growing size, complexity and funding difficulties. You can read future installments online at BusinessWeek.com/bschools, and, of course, in upcoming issues of the MBA Express newsletter. Until next week, Phil Mintz B-Schools Channel Editor E-MAIL A FRIEND  |  GET RSS  |  NEWSLETTERS B-SCHOOLS NEW ON MBA INSIDER >> Amazon's Recruiting Plans for MBAs The e-commerce company's MBA recruiting manager says hiring remains robust as Amazon's global growth continues MBA Insider Subscribers Only Advertisement B-SCHOOLS MULTIMEDIA MBA >> Chicago GSB Podcast: CEOs Need Tougher, Not Softer Skills to Succeed This broadcast features Steven Kaplan, Neubauer Family Professor of Entrepreneurship and Finance, speaking at the 2008 Management Conference. He shares his research on how successful CEOs are efficient, proactive, and persistent What’s Your Problem? We all have workplace problems. Share with us, and your fellow readers, the hurdles you've faced—and how you've tried to clear them.  IN YOUR FACE: THE FROZEN U.S. ECONOMY Reader Cody Writes: "It can't stay like this forever....can it? I'm buying gold bricks and burying them in my back yard. When currency goes south, I'll dig those out and start to barter!" Tell Us: Are Your Assets Shivering?     Tools & Features MBA Insider Check out this feature-rich area for advice and tools that will help you choose the right B-school -- and develop a strategy for getting accepted Full-Time MBA Rankings & Profiles BusinessWeek's Top 30 U.S. programs and Top 10 international programs. Plus, scan in-depth profiles of more than 300 full-time programs around the world The Best Undergraduate B-Schools Undergrad business programs are getting MBA-like respect, and competition to get into them is hotter than ever. Here's how the top schools stack up B-School Calendar BusinessWeek.com's scheduling tool will give you an idea of upcoming events at B-schools in the U.S. and around the world. You'll find information on admissions receptions, application deadlines, networking events, alumni events, conferences, and much more. EMBA Rankings & Profiles BusinessWeek's biennial Executive MBA rankings grade 25 programs worldwide. Plus, you'll find profiles of nearly 200 programs Exec Ed Rankings & Profiles Here are BusinessWeek's top 20 Executive Education programs. Plus, profiles of more than 100 programs worldwide Advertisement   FEATURED SPECIAL REPORT >> Graduating into a Recession Slide Shows Survivors' Stories Commencement Speakers It's Looking Grim for New Grads Recession-time MBAs face tough choices—and more modest earnings over their lifetimes Scant Pay Growth for Business Grads Recession Grads' Survival Tips Job Searchers Face a New Reality Job Hunting Tips Graduation Talks Accentuate the Positive READER COMMENTS > MORE SPECIAL REPORTS >  BW MALL   SPONSORED LINKS Find Online MBA Schools  Compare top ranked Online MBA programs. Flexible Options for working adults. Free information. Fear the GMAT? Veritas offers More of Everything  99th percentile GMAT instructors, 15 practice tests, and twice the hours of Kaplan: 42-hour evening and 36-hour weekend courses, private tutoring, free GMAT seminars, and customized MBA admissions help from HBS, Stanford, Wharton, and Kellogg grads. Score higher, faster with GMAX Online or CD Course  Find out why so many GMAX students love the course and do so well on the GMAT - take a demo lesson. ExxonMobil  Taking on the world's toughest energy challenges. Capitalize on the Recession with…Sandwiches?  Diners going "fast-casual" to save $$. Proven franchiser Spicy Pickle poised for high growth future. Buy a link now!