FINDING A JOB MBA Internship Hiring Shows Signs of Life Summer internship offers are up at top business schools as consulting, banking, and other industries begin tending to their talent pipelines
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GETTING IN Making the Most of Business School Rankings Choosing a B-school can be a gamble. MBA applicants shouldn't rely on rankings alone, but the data they include are a valuable resource, admissions experts say
Is College Job Market Starting to Thaw? More good news on the undergraduate job front: the latest polling results indicate that employers plan to make big increases in the number of college students they hire this year, both for permanent full-time jobs and internships.
ForumWatch: How Young is Too Young for an MBA? Every few weeks or so, people come onto the Bloomberg Businessweek Business Schools Forum to ask questions about how their age influences their chances of getting into a top program.
NYU Opening New Campus in Shanghai New York University announced yesterday that it's planning to open a new campus in Shanghai in 2013, NYU's second international campus and the first in China with independent legal status
BEST BUSINESS SCHOOLS 2010 Business School, Explained Is business school on your horizion? If so, get answers to all your questions on admissions, careers, and B-school life from the experts
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 Business Schools — Withdraw Enrollment
From: merclit To: All
Hi,
I have two questions closely linked with each other:
I have been working in energy trading firms for most of my career, and have recently been promoted, a couple of months after receiving acceptance to an MBA from a top 10 European B School.
My first question is therefore: How useful is an MBA when you work in the energy trading sector? As none of the top professionals I know in the industry have an MBA, I am wondering whether this is the right next step for me.
Also, and because of my doubts about the usefulness of an MBA to progress further in my career, how do I get out of the enrollment contract which clearly stipulates that I am liable for all tuition fees? The contract itself does not give a cancellation/termination policy. Does anyone have experience in dropping out and have you been "pursued" for the full tuition?
From: bobjay To: merclit
Hi Merclit,
I dropped out of a program last year and am reapplying this year for different schools (cold feet I guess). It is very unusual not to be able to get out of the contract with nothing but a lost deposit.
I was told as well that I was liable for the whole fee, but on closer inspection found that there was actually a withdraw policy at the university which was tied to the number of weeks attending the program. If I dropped out in less than 4 weeks, then I was eligible for only 50% of the tuition. Drop outs before the start of the program and it was only the deposit. Luckily, in the social media age, most schools are far too worried about unhappy customers creating bad press to insist on full payment.
From: JinShil2 To: merclit
merclit, I also wondered what an MBA would do for me. As a current MBA student in a top 5 program, I get asked that question a lot. The true answer is that no one knows what an MBA would do for you and whether it would be worth your effort. BUT we can see it as a probability. So your MBA will PROBABLY help you in your career (whichever industry you choose) and your personal life as well (much of B-school concepts help in all areas of life). And your probability will depend on the quality of the school, skills, determination, luck, and opportunities etc.
As far as withdrawl, you should read the fine print. No school, at least in the USA, would require a student to pay full 2 year tuition for a withdrawl. They do, however, charge a full semester's worth of tuition for LATE withdrawls.
Most likely, your penalty will be limited to losing your deposit.
Getting into Business Schools — Getting In Is My Problem
From: arkr To: All
Hi all, with recent events in the job sector and the economy recovering at a very slow pace I was really thinking about pursuing an MBA. I thinking about it more because it's so hard for me to get a decent job. I am a day trader for a local firm and basically a financial analyst after the markets close, all with horrible pay.
I don't know what I'm worth to these schools. I graduated with a 2.8 GPA from Michigan State University and I feel that I really screwed myself with my undergrad standing and getting accepted to a pretty good school would be possible. I'm interested in pursuing a Master's in Finance and I will be starting to study for my GMAT soon.
Does anyone have any insight or experience that they would be able to share that could potential help me out? Is all hope lost for me and good business schools will just tell me better luck in another life? Even if I get a score above a 700 on my GMAT will it potential out shadow my terrible GPA?
Thanks guys
From: JinShil2 To: arkr
As far as GPA, the longer you have been out of undergrad, the less it matters.
The answer to your question depends on what caliber of program you are pursuing and what other mitigating factors you have. If you do really well on GMAT, your GPA shouldn't prevent you from attending a top 10-20 program. A top 10 program would be harder.
Overall, focus on what is under your control. It is safe to say you need to do well on the GMAT for you to have a decent shot at good programs.
From: FrancescaBW To: arkr
Hi,
Your pay and title aren't as important as the experiences you've had. If you've overcome challenges, led a team, or helped on a project, you can discuss that in your application. Getting involved in voluntary organizations for charity might also provide examples of your leadership and skills.
To make up for a low GPA, you should study hard for the GMAT and do the best you can. You can also take courses - especially quant ones if those were your weakness - to show that you can perform well and handle the academic rigor. Of course, you'll have to study hard and get good grades to make them count in your favor.
You can get an idea of the types of students, their GMAT scores, and other demographics at various programs by looking at our Rankings and Profiles. Here's the link - http://www.businessweek.com/bschools/rankings/
What do you want to do post MBA? Good luck!
Thanks, Francesca
From: arkr To: FrancescaBW
Francesca,
You know what I really haven't given it much thought on what I would do post grad. I wouldn't mind going to work Federal or for any company as a matter a fact. Every company has a finance department but to say that I have thought about it more in depth I would be lying.
Thank you for the fast post.
From: FrancescaBW To: arkr
Hi,
Thanks for your honesty. Before you decide which schools would be a good fit, you really need to reflect on what you want to get out of an MBA and what your career goals post MBA would be. It's the only way you can be sure to get the best ROI and that you're choosing a program that will help you make your specific dreams a reality. I recently wrote a story about researching the MBA, which many consider to be the first step in the process. Here's the link -
Another story that might be useful after you've given thought to what you want out of an MBA program is this article on how to make the most of the business school rankings -
Getting into Business Schools — Too Young For An MBA?
From: acrossley To: All
Hi Everyone,
I'm writing to ask your opinions on my applying to an MBA program. I am currently:
- 21 years old
- Will be graduating from the University of Massachusetts Dartmouth in May — 3.5 GPA — B.S. Ops Mgmt
- I have been president of a group called Students in Free Enterprise for a year; we focus on using business knowledge and expertise to apply toward community service. I spend approx. 15 hours a week with that. www.SIFE.org
- I started my own business 3 years ago; I have a pilot's license which I received at 16 so I decided to start an aerial photography company. I am the sole proprietor, and provide aerial photography to the New England area, and have gained valuable hands on experience from that. I work full time there while attending classes full time. My website: www.NortheasternAerial.com
I'm applying to the following programs: UVa Darden, HBS, and Kellogg (I've already been accepted into the MBA program at UMass Isenberg School of Management, but would absolutely take the other three over it)
Some of the applications ask for work experience since undergraduate graduation. I've been working full time running my own business since I was a sophomore in college. But if I say i've had 3 years experience, I guess it's technically not correct since they ask for work experience since graduation right? Should I put 3 years in the box or should I say 4 months since that would be the time between undergrad graduation and matriculation into the MBA program in September? Do you think they will take professional work experience during college as seriously?
How would you approach the situation, and what do you think my chances of getting into to Darden, HBS, or Kellogg are?
Thanks for your inputs in advance!
From: FrancescaBW To: acrossley
Hi,
Schools will find your entrepreneurial spirit exciting and promising. But they might also want to know what your rush is and why you don't want to get your feet wet working after graduation rather than going directly to an MBA program. You'll have to explain all this in the essays and interview. Still, you may face rejection because business schools - and the classmates you aspire to join - prefer people who bring a certain maturity and level of work experience to the classroom. So, what is your rush to get to business school?
Good luck, Francesca
From: bobjay To: acrossley
You are absolutely too young for an MBA. Take your time, see how the business grows and what other opportunities are out there. If you are as entrepreneurial/successful as your profile looks, then you may find you don't need an MBA (or the 6-10 year payback period).
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Spring arrived in New York, theoretically at least, about two weeks ago, but you'd be hard-pressed to find any evidence of it. To most of us, it doesn't feel like spring has truly arrived until the first buds start opening in Central Park or MBAs start landing summer jobs.
With temperatures in the 40s, we may have to wait a bit for the former, but not the latter. As Francesca Di Meglio reports, schools are reporting a surge in summer placements as companies that let their talent pipelines go dry during the recession are suddenly on the prowl for new talent. At least a half dozen schools reported increases of 10 percentage points or more, and those twin peaks of MBA hiring, consulting and financial services, are both seeing gains.
Spring has sprung.
Louis Lavelle Business Schools Editor Bloomberg Businessweek
UCLA Anderson: Admissions Q&A MBA Admissions Director Mae Jennifer Shores explains what UCLA's Anderson school has to offer and what it takes to get in
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.
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