The MBA Exchange

Atten-TION! Top MBA programs serve military officers with distinction

Mon, 20 May 2013 07:58:00 GMT

A growing number of military officers planning to leave the armed services realize that a business school education offers them compelling benefits that can last a lifetime:

•   Accelerated business knowledge
Many occupational specialties (e.g., infantry, armor, nuclear warfare) in the military have no parallel job in the private sector. So, officers who want future business careers need to climb the learning curve rapidly. While large corporations offer training and rotational programs for vets, an MBA education provides a faster and more comprehensive immersion in the world of business.

•   Expanded professional network
Officers who joined the armed services while in their early 20s find that their current network is limited primarily to old college friends and fellow military personnel. Establishing and growing a business career requires a broader set of allies and resources that is found only at a top b-school.

•   Exploration of future opportunities
In transitioning to the private sector, military applicants may have several career options in mind but no direct understanding of various industries, functions and roles. MBA case studies, career services resources, summer internships, alumni mentors, and recruiter presentations are just some of the ways that these future CEOs can explore and sample the possibilities at no risk.

•   Smooth and structured transition into civilian life
Military life instills a mindset and communication style that can be quite different from civilian life. Through participation in a wide range of student clubs, group projects and social events, military MBA students expand their perspectives and build relationships that will help make this dramatic change more satisfying and enjoyable.

At the same time, MBA admissions committees find that military applicants offer added value to their classmates and to the program itself. Attributes that help make military applicants so attractive to b-schools include the following:

•   Leadership: Military officers have been thoroughly trained in how to lead subordinates. Guiding others to achieve tangible impact is an attribute that most of their civilian counterparts don’t get the chance to develop prior to business school.

•   Understanding diversity: Officers interact daily with fellow military personnel from every conceivable culture and socio-economic group. Furthermore, they have had lengthy overseas deployments where understanding the values, beliefs and customs of the local population is essential.

•   Problem solving under pressure: Making real-time decisions with limited information -- literally and figuratively -- under fire has been an everyday occurrence for most military MBAs. This high level of self-confidence, accountability and maturity is unmatched by most civilian applicants.

•   Confirmed ethics and integrity: The Oath of Enlistment embodies the standards by which military officers do their jobs and live their lives. Raising one’s right hand and swearing ‘to support and defend the Constitution of the United States’ confirms the values and priorities of the individual making that pledge. As role models for ethical behavior, ex-military students can influence their classmates to make more thoughtful business decisions in the future.

With several ex-military officers – including graduates of West Point and Annapolis – on our consulting team, The MBA Exchange is standing by to help armed services veterans to launch their business school admissions campaigns starting with a free evaluation.

Forward, march!

"Self-Marketing 101" for Future MBAs

Mon, 06 May 2013 09:43:00 GMT

By David Topus, founder and president of HelpMeSellMe

As an MBA student, you’ll be reinventing yourself, your career, and your professional brand. Although the finish line for attaining this impressive accomplishment and credential might seem far off, graduation will arrive sooner than you think. That’s why now -- even before you apply -- is the time to begin laying the groundwork so you get the well-deserved return on your substantial investment of time, money and effort.

Your business school admissions campaign offers a rare chance for you to conduct an inventory of your personal, academic and professional background and successes. With the guidance and support of a skilled admissions consulting firm like The MBA Exchange, you’ll uncover the significance of your experiences, your accomplishments, and your connections. You’ll stretch yourself to confront and overcome vulnerabilities, take initiative, and establish meaningful relationships.

During your MBA program you will take courses on strategic planning, marketing and branding. Managing your career and professional brand is no different than managing any other strategic marketing initiative, except in this case you are the “product.” The investment you’re making in this advanced education will be only as valuable as the extent to which you leverage it in the marketplace. It begins with who you know, followed by what you know, all presented in an engaging and compelling package. And in fact, there have never been more resources or opportunities available for designing and promoting your professional brand strategy than there are today.

No doubt, you have plenty on your plate as you contemplate months of intense learning in the MBA classroom. But for those who want to establish and fortify an early competitive advantage, here are some recommendations you can embed into your lifestyle starting today that will put you ahead of the pack upon graduation, and for the rest of your career.

Begin Building Your Network by Considering Everyone You Encounter a Possible Conduit to Opportunity

It doesn’t take an MBA degree from a top business school to realize that who you know is just as important as what you know. Much of your enhanced “marketability” resides in your contact base – a resource you won’t want to start building from a dead stop. To the contrary, this is one you will be glad you started building now, while applying to business school.

That means engaging with just about everyone you come in contact with, first as an applicant and then as a student. Classmates, faculty and alumni, just to name the obvious people. And then there are the random encounters we all have – the people we meet in the course of daily life. Here’s where you are likely to meet some of the most influential contacts. Call them strangers, but there are endless numbers of stories of people making high-yield connections with complete strangers, simply by initiating conversations, learning about one another, discovering possibilities, and staying in touch. It’s that simple, and is one of the fastest and most efficient ways to build a network of influence, as unpredictable and serendipitous as it is.

But whether you deepen your connections with people you already know, establish relationships with people you have a direct reason to know, or turn your everyday random encounters into a big networking opportunity, you’ll be putting in place one of the single most important building blocks of a successful career – establishing and maintaining a network that is the conduit to your future.

Gather Examples of the Outcomes You Produce in the Course of Your Learning

The classes, case studies, assignments, internship, and campus activities in which you are involved during your MBA program will generate deliverables, materials and results of various kinds. Samples, reports and other tangible evidence of your success in these endeavors make ideal ingredients for your post-MBA resume and portfolio. So, consider what you’re working on throughout the next two years, and collect related materials with the intention of highlighting them as part of your personal marketing presentation.

Consider How Your Knowledge, Skills, Experience and Attributes Translate into Value for Others

Your MBA education will equip you with knowledge that few others possess. You’ll learn how to approach business issues and challenges with greater insight. You’ll have the benefit of others’ successes and failures, gleaning the best (and worst) practices that resulted. You’ll have a frame of reference that enables you to identify the root cause of business problems -- and then solve them. You’ll gain confidence in your own expanded abilities. And you’ll refine your personal attributes and emotional intelligence so you can relate to -- and with -- a wide range of people who will surely comprise the fabric of your career success. Ultimately, you’ll have what it takes to make a difference -- across industries and across borders.

All of this subject matter expertise, insight, skill and personal development are the ingredients of your value proposition. But like any good recipe, the key is in putting it all together. As you go through your MBA program you’ll want to think about how your newly acquired knowledge and attributes translate into value for your future employer. You’ll want to understand how these assets position you as the best candidate for the job. Or the new assignment. Or the promotion.

Your value proposition will be in the outcome you are able to deliver. How does your subject matter expertise enable you to develop customer-centric products? What about creating successful go-to-market strategies? How do your newly honed analytical skills allow you to improve operational efficiencies? How do your financial skills enable you to optimize profitability? How about your leadership skills helping you to develop and cultivate high-performing teams? These are the outcomes in which all of your hard-earned knowledge and skills ultimately manifest, and that will get the attention of potential employers.

Promote Yourself So You Are a Recognized Presence in the Marketplace

With an active, influential and readily available network and a clearly defined value proposition, you will be positioned to package and promote yourself. It’s a crowded world out there, so phase three of your successful reinvention entails proactively packaging and promoting yourself and your capabilities so you get the attention you need and deserve. Keeping your new skills and MBA credential a well-kept secret will not work to your advantage; rather, this is the time to let the marketplace know who you are, what you have to offer, and how you will make a difference for whomever you work.

By packaging and positioning yourself in compelling ways, and making yourself visible in the marketplace, opportunities will find you instead of you having to find them. To get there, you’ll need dynamic and engaging personal marketing materials that articulate your professional brand and value proposition.

Most of the action today is online; so as you begin thinking about how to build visibility and recognition, LinkedIn and other web-based platforms will take on new and greater significance. As part of building your professional brand you’ll want to protect and manage your social media profile and engage in positive activities, both online and off, that show up in a Google search. Ideally, you’ll have yourself packaged, positioned and presented consistently in all venues and platforms.

Your acceptance into a top MBA program is a turning point in your life. And while completing the program is an accomplishment in and of itself, the return on that investment comes in your ability to leverage the knowledge, skills, attributes – and credential – that come along with it. Whether you return to current industry, or make a big change, you know one thing: you have your first marketing assignment: it’s called, as Tom Peters so aptly named it years ago, marketing “the brand called YOU”.

David Topus turns reputations into revenue. He is the founder and president of HelpMeSellMe (www.helpmesellme.com), a provider of personal marketing materials and services, and was the founder of ExecuNet’s Career Services Group. His book, “Talk to Strangers; How Everyday Random Encounters Can Expand Your Business, Career, Income and Life” was published by John Wiley in May 2012.

European MBA: A Unique Experience

Tue, 30 Apr 2013 14:18:00 GMT

by Christophe Coutat, CEO and Founder of the Access MBA Tour

When choosing between business schools in Europe and the United States, the main thing to keep in mind is that the decision is very personal. Take a good look at the available options and do not let yourself be influenced by rankings. If your background fits in better with a school that may be a little outside the top 10, 20 or 30, don't let that worry you. Here are some of the advantages European business schools have over their overseas counterparts.

Less Expensive. The two-year program is still considered to be the American standard for the full-time MBA. In Europe, the duration of an MBA program is one year or eighteen months, which becomes less expensive than a two-year program and entails lower overall living costs. Nevertheless the quality of the programs can be very high, which explains the growing number of triple-accredited business schools in Europe.

More Specialized MBA Programs. Europe boasts schools that are known for certain specific core competencies. Ranked the best European business school by the Financial Times in 2012, IE Business School is, for example, the perfect place to develop your career with its focus on innovation, diversity and entrepreneurship.

A More International Network. Reports by GMAC state that 38% of participants in US business school are from foreign countries. The percentage of international students in European MBA programs is 83%. Due to this, the teaching language at most business schools in Europe is English. University alliances and exchange programs contribute to highly diverse and international student bodies, and ultimately expand personal networks and ability to work on a global level. IESE Business School, which offers the fifth best worldwide MBA program according to The Economist in 2012, has between 26 and 28 exchange partners including 16 top US schools, such as Columbia and NYU-Stern. In 2010, IESE became the first European school to open its New York City campus.

High MBA Salaries. During times of economic growth or in times of crisis, it is important to have a diploma that employers favor. 87% of the European business school graduates of the class of 2012 was employed after graduation, according to a GMAC survey. Getting a European MBA is also a great opportunity to change careers or find a better job, as 43% of graduates found new employers after graduation. The median starting salary for all management program graduates in the Old Continent is higher by more than US$22,000. Last year, MBA employees in Europe were even better paid than in America – US$108,355 compared to US$100,000.

Better Return on Investment. The Financial Times value-for-money rankings show that European schools are doing better than their American counterparts. With all due critical attitudes towards such calculations and lists, the top 10 European and American schools would be as follows: The first 10 are made up of European institutions and the second 10 are American. The question of business school quality is open to debate, and can never be fully resolved. Although, in terms of ROI, the European MBA seems to be gaining the upper hand.

More Experienced Classmates. The age of MBA students in Europe is generally higher than that of American schools. This may give experienced professionals who want to go back to school an argument in favour of the Old Continent. On the other hand, US institutions accept more a larger number of students in their programs.

Smaller Classes, More Individual Attention. The size and culture of a school are often overlooked when considering business schools. In general, US business schools are larger, with an average intake of 287 full-time MBA students, compared with 124 in Europe. Professors in the US may therefore have a limited amount of time for individual work with each student compared with professors in Europe.

Better Career Mobility. Thanks to the Bologna higher education accord, European degrees are recognized in most countries within the Eurasian continent, giving unprecedented access to career opportunities worldwide. This also means that MBA graduates are not confined to working in the country they graduated, but can benefit from the pan-European job market.

Cultural Diversity. Cultural differences between European countries shouldn't be underestimated when considering the added value of an MBA program. Historically-built attitudes and social order vary greatly and create a secondary learning environment outside the classes.

Language Learning Options. It is a well known fact that a new language is most efficiently learned when in the foreign country. Even though English i the teaching language of MBA programs, students have the option to perfect their language skills with native speakers outside of the classroom.

ONE-TO-ONE MEETINGS: THE FIRST STEP TO ADMISSION
Created ten years ago, the renowned Access MBA Tour travels to 65 cities every year with a hundred international business schools. Access MBA gives selected candidates the chance to meet individually with Admissions Directors of top-tier MBA programs. MBA candidates have twenty minutes to convince recruiters of their eligibility for admission as well as to determine which MBA program is the best for them.

Being held for the sixth time in New York, representatives of Full Time, Part Time or Distance Learning programs will be present at the One-to-One event on Wednesday, May 22nd 2013 from 4pm to 9:30pm at the Warwick New York Hotel.

Some of the business schools participating in the Access MBA Spring Tour 2013 include: London Business School, INSEAD, Duke University – The Fuqua School of Business, IESE, HEC Paris, IE Business School, Cass, ESADE, Hult International Business School, Manchester Business School, EDHEC Business School, Nottingham University, University of Chicago–Booth, SDA Bocconi, Northwestern University–Kellogg, IMD, University of Cambridge, Copenhagen Business School, Durham University, International University of Monaco. “It is a unique experience and so much better than a traditional fair where you often feel a bit lost. Here we are guided, accompanied and individually oriented at each step. The individual meetings enabled me to think in more detail about what I want and now I know where I wish to apply”, explains John Alvine, who participated in last year’s event in NYC.

How can you take advantage of Access MBA’s exclusive services? All you have to do is register online on www.accessmba.com and bring your CV to the event. Early registration is recommended as places in One-to-One meetings are limited.

Which Graduate Degree(s) for Me?

Tue, 23 Apr 2013 05:03:00 GMT

By Jeff Phillips, MBA Kellogg / MPA Harvard, Senior Admissions Consultant

For individuals seeking a business career, a top-tier MBA education is a powerful vehicle by which to advance. The lifetime value of the knowledge, perspective and network gained by attending a leading business school is undeniable. Graduates are recruited by a wide range of firms, from promising startups to blue-chip corporations, for six-figure opportunities that often lead to a corner office.

In contrast, individuals considering a career in government (the public sector) -- with a lesser interest in the business world -- should consider a master’s degree in Public Affairs. Typically two years in length, these programs award students either an MPP (Master of Public Policy) or MPA (Master of Public Administration) credential upon completion. A long list of administrative and policy-making roles await graduates at the federal, state and local levels in governmental entities desperately in need of talented men and women.

However, there is an alternative to the stand-alone MBA, MPP or MPA degree worth considering. In a world where the for-profit, non-profit, and public sectors are inextricably linked, a dual degree stands as a compelling option.

Do you envision a business career in which dealings with government are par for the course? At one point or another, most business executives find themselves dealing with the public sector. After all, companies of every kind face taxation, many interact with local governments when considering the siting of facilities, and many more must comply with environmental, financial and other types of regulation.

Arming yourself with a broader tool kit so that you can effectively handle such challenges is the reason why prospective MBA students should consider an MBA/MPP or MBA/MPA program. These dual-degree options, offered at many great universities such as Harvard, Stanford, and Penn, allow one to develop a deeper understanding of the for-profit business sector as well as the public/governmental sector. Those interested in senior business roles would be well-served with the additional insights these programs provide, as senior executives must possess a broad, multi-sector perspective.

And those dreaming of a government / public service career would benefit from a solid understanding of the businesses that drive our economy. Candidates with a passion for public service (who might have little interest in ever assuming a business role) would nonetheless be well-served by a deeper understanding of the entities that government regulates and which actively seek to influence public policy.

So, before taking the traditional MBA-only route, carefully consider which of the options available to you -- an MBA program, a Public Affairs program, or a combination of the two -- will best equip you to achieve your long-term career goals. (Of course, for those with career interests requiring a law degree, the JD is also an option.)

The MBA Exchange team has an industry-leading track record in helping applicants gain admission to top-tier MBA, MPP, MPA and JD programs. If you’d like The MBA Exchange in your corner, the first step is a free, expert assessment of your MBA, MPP, MPA or JD candidacy using the free evaluation form on our website. If you have any questions, please email us at info@mbaexchange.com.

March Madness: Six Lessons for MBA applicants

Mon, 01 Apr 2013 15:58:00 GMT

Every year at this time, our thoughts here at The MBA Exchange turn to… basketball.Whether or not you’re a fan of the game, the media bombard us during late March and early April with in-depth stories about college teams competing for the national collegiate championship.Office betting pools test both the insights and the luck of those who fill out tournament brackets. This harmless, seasonal fun has relevance to another major competition that’s near and dear to our hearts – MBA admissions.

In considering the intensity and variability that surround these athletic endeavors, there are 6 valuable lessons that business school applicants can learn for their varsity basketball counterparts.

1. Know your competitors.
Just as every team that takes to the basketball court is determined to win, the same is true for MBA applicants.Success is a zero-sum game.For every winner there is a loser (and in the case of top-10 b-school admissions, it’s more like 6 or 7 losers for every winner!).So, before you rely on advice shared openly by other applicants in online forums, remember that they are seeking to win the same seat that you are pursuing. Be careful about who you trust.

2. Have your game plan perfected, but stay opportunistic.
Practice, practice, practice. The more diligently an athlete or an applicant prepares, the “luckier” he or she gets.However, as the competition for victory intensifies, one’s game plan must evolve. In the case of MBA admissions, this means initiating and seizing every opportunity to strengthen and distinguish the underlying candidacy. Accepting new roles at work and in the community, networking with alumni, attending an on-campus events, etc. These are ways that you can enhance your profile and improve your chances throughout the admissions campaign. Watch for and seize such moments without hesitation. Playing solid defense is important, but only if you score more points than the opposition.

3. Be ready for the unexpected.
In basketball and in MBA admissions -- stuff happens. An unanticipated injury, a bad call by a referee, or a lucky half-court shot by an opponent can instantly change the course of a game. Likewise, having a trusted supervisor decide not to provide a promised recommendation or getting a GMAT score that’s 40 points lower than you expected can feel catastrophic. But it doesn’t have to be disastrous if you’ve anticipated that possibility and prepared for it with “Plan B.” A skilled and experienced admissions consultant is like a “coach” who has seen and helped others overcome such challenges.

4. Remain aware of the “game clock” but never ignore the “shot clock.”
Every athlete and every MBA applicant knows that the contest is not infinite. The game ends when the buzzer sounds. And the admissions campaign is over after the interview takes place. However, there’s another “clock” that must be watched. Basketball teams have only 35 seconds to complete a play and take their shot, or else the other team gets the ball. For b-school applicants, the equivalent is the completion of the various components of the application. If the resume isn’t perfected, if the recommenders are not working on the recs, if the essays are not taking shape on a timely basis, then the application will not be ready for submission by the deadline. So, each element of your admissions campaign is on a “shot clock” of its own. Establishing and managing a detailed plan is the only way to ensure that you’ll achieve your strongest app by the time the “game clock” hits 0:00.

5. It’s not over until it’s over.
Basketball players and MBA applicants who are determined to win devote every ounce of their energy to achieving this goal.However, just as a hoops game can go into overtime, the admissions campaign can lead to being waitlisted. Exhausted and frustrated, competitors on the waitlist can sit back and say, “Well, at least I did my best.” Or they can dig deep and rally one more time to claim the success that eluded them in “regulation time.”Winning in OT, or being admitted a few weeks before classes being, is a victory in the truest sense of the word.

6. Evaluate your strengths and weaknesses before the season starts.
Only by determining in advance where to improve can someone achieve his or her personal best.Athletes are assessed by their coaches starting at the first practice session. Likewise, MBA applicants can and should determine as soon as possible where they must improve. The earliest and best way to accomplish this is through a free, expert evaluation of the candidacy. The MBA Exchange is standing by to help you do just that for you.

MBA Admissions Interview: Your final step before success

Thu, 21 Mar 2013 12:31:00 GMT

Most MBA applicants would agree: the admissions interview can be the most intimidating part of the admissions process. It’s face-to-face with the one person standing between you and your dream school – with nowhere to run, nowhere to hide.

And interviewers are not always warm and welcoming. Part of their technique is to avoid giving positive reinforcement to the applicant just to see how they handle themselves under pressure.

Many times you don’t even know who will be interviewing you until you arrive. It might be an administrator. Or possibly a second-year student or an alumnus. They each have their own agenda and criteria in mind. 

In order to have a successful interview, an applicant should come across as confident, informed and unique. While you may possess all of these qualities, convincing a total stranger that you do – all while appearing calm and collected – is a giant feat in itself.

It can be very tempting to prepare for an admissions interview using only friends’ suggestions and well-meaning advice. However, the strengths and experiences of others likely won’t resemble yours. The best bet is to engage the services of a professional.

Here at The MBA Exchange, our team of seasoned admissions experts provide far more than just friendly “tips” – our interview prep service includes:
• Proven, proprietary strategies and tactics for interview success
• Online video examples of admissions interviews performed by actual MBA students and alumni from top b-schools
• Password-protected access to a complete video library of MBA admissions interview FAQs with expert analysis
• Unlimited interview practice using our exclusive, web-based video facility featuring 25 interview scenarios
• A real-time mock interview via webcam with insightful, constructive feedback and actionable advice

An MBA admissions interview is your golden opportunity to show the b-school of your dreams that you’re more than just a resume or test score. This interaction allows the admissions committee to connect a personality to the application, and could be your key for entry to your perfect MBA program. Why not give it your very best?

Admissions Consultant’s Corner: Meet Pauline Jennett, ex-Harvard Associate Director of MBA Admissions

Mon, 28 Jan 2013 11:47:00 GMT

Here’s the latest in a series of interviews with Senior Admissions Consultants from The MBA Exchange. Get to know the professionals who devote their experience, skills and passion to helping applicants gain acceptance to top-tier business schools.

Meet Pauline Jennett, Wharton MBA alumna and former Associate Director of MBA Admissions at Harvard Business School

1. What’s your best memory of being a b-school student?
I recall traveling with my fellow Wharton students and the African Business Club on a 3-week trek to Africa. Countries visited included Senegal, Ghana, Zimbabwe and The Gambia. My classmates had direct connections with the President of Ghana, so we received a private tour of the palace grounds and a Q&A session. Our picture with Ghanaian President Jerry John Rawlings, appeared in the national newspaper and when I met him during an educational trip years later in South Africa, he remembered our visit!

2. What was your favorite student club?
The Marketing Club; I was president and, due to my first job in the computer industry, I brought in executive speakers from IBM and other technology speakers. I went on to hold marketing roles in organizations including Gillette, Coca-Cola and HBS.

3. What was an unexpected experience at business school?
I spent a semester in my second year at IESE, in Barcelona, Spain. I recall studying HBS cases and debating in Spanish with my international classmates. My biggest surprise was the average number of languages (five!) most of the Dutch students spoke. I also remember how thoughtful my classmates were, when they insisted on cooking an American Thanksgiving dinner, with turkey and dressing, for the American exchange students.

4. What would your admissions clients be surprised to learn about you?
I also have a Divinity degree in Counseling. It definitely comes in handy as I get to learn the ins and outs of each of my individual clients!

5. What do you enjoy most about admissions consulting?
Listening to clients’ narratives about their goals, hopes and dreams and how an MBA can help achieve their short-term and long-term goals. I still happily remember the phone call from one of my clients who informed me that I was the second person he called after his parents when he received admission to HBS!

6. What are some of the misconceptions you hear most frequently from applicants?
Sometimes they’re nervous to tell me about a misstep they have made in their career. One of the biggest misconceptions is that admissions committees want “fake” mistakes; I constantly state that true, passionate authenticity is one of the most compelling aspects of an application.

7. Which class in your MBA program did you most enjoy?
My major was Strategic Management, but my favorite class was my Entrepreneurial Management class. We researched business plans and outlined our key launch phases, including capital investments, distribution and marketing. My ideas ranged from customized-delivery restaurants to a comprehensive card shop and wedding planning consultancy.

8. What are some of your hobbies?
Tennis, bike riding, piano, and traveling – I have visited 40 states and 34 countries including Russia, Norway, Finland, Amsterdam, France, Switzerland, Barbados, Bahamas, Jamaica, India, Dubai, Mexico, Guatemala, Brazil, China and Belize.

9. What is the most surprising thing you ever learned about a client?
I have had several clients with military backgrounds. It’s always surprising and inspiring to hear about the extreme scenarios they have successfully navigated in the midst of very intense situations. There’s a long line of military involvement in my own family, so I remain grateful for the personal sacrifice that serving our country entails.

Pauline Jennett is a valued member of The MBA Exchange consulting team. She’s one of the 60 MBA graduates and former admissions officers who have helped over 3,300 applicants gain admission to leading business schools worldwide. If you’re a business school applicant who would like to enlist the experience, energy and talents of our exceptional team, please visit us at www.mbaexchange.com.

MBA Applicant's Dilemma: Round 3 vs. Round 1?

Wed, 09 Jan 2013 08:00:00 GMT

Have you looked at the calendar of MBA admissions deadlines? Round 2 Winter deadlines have passed at most top-tier business schools.

So, if you haven’t submitted your applications by now, you’re facing a major decision. Should you prepare apps for Round 3 deadlines in March/April? Or is it wiser to extend your campaign and aim for Round 1 in October?

Let’s compare the rationale for each of these options:

REASONS TO TARGET ROUND 3 FOR 2013 ENROLLMENT
-   You’ll enroll and graduate one year earlier than you would by waiting for Round 1.
-   If you don’t anticipate earning a promotion or if your current job is in jeopardy, why wait?
-   It’s good timing for non-traditional applicants, even those with a modest GPA and/or GMAT, since adcoms want to “round out” the class profile.

REASONS TO TARGET ROUND 1 FOR 2014 ENROLLMENT
-   6 extra months to build a stronger candidacy for more selective schools; add professional accomplishments, bolster non-work leadership profile, mitigate low GMAT or GRE, etc.
-   More seats in the class available since there is no prior waitlist.
-   Conveys to adcoms that earning an MBA is your top priority, not an afterthought.
-   More merit-based financial aid available.
-   If not admitted immediately, there’s an opportunity to be waitlisted for consideration in next round.

SO, WHAT’S BETTER FOR YOU?
The key question is how long will it take you -- 3 months vs. 9 months -- to build a candidacy and produce applications that maximize your chances for admission to your targeted schools. The pros and cons impact different applicants in different ways. However, a qualified admissions consultant like The MBA Exchange -- starting with a free, expert assessment of your strengths, weaknesses and admissions potential -- can help you determine the right timing for your situation and then help you achieve your goals.

And remember,”doing nothing” is also a choice -- one that will only constrain your chances for MBA admission no matter when you apply.

When you think your Round 2 MBA application is finished, think again

Thu, 20 Dec 2012 12:45:00 GMT

•    Are you a Round 2 applicant targeting top-tier business schools?
•    Have you written your applications for submission by the January deadlines?
•    Would you feel more confident if your applications were thoroughly critiqued by former MBA admissions officers and skilled grads of your targeted schools?

If you answered "yes" to all 3 of these questions, then you’re not really done with your applications.

What you think may be a great set of essays might actually constrain your candidacy. Only by having a thorough review and candid feedback from an experienced observer can you say with certainty that you’re ready to present the b-schools with your strongest case for acceptance.

Perhaps you have colleagues or friends with MBA admissions backgrounds who can provide such a review for you. Otherwise, consider AppCheck ™ from The MBA Exchange. Their ex-admissions officers and experienced b-school grads will examine your work and provide specific advice for improvement. Even if you’ve worked with an admissions consulting firm, this service adds substantial value by confirming or improving the way you’ve positioned your candidacy.

A thorough review with actionable comments, provided in 48 hours or less, will help you refine your app so you can hit the January deadlines with greater confidence – and a greater chance for success.

For more information about AppCheck application review service, visit www.mbaexchange.com.

Level the "playing field" for your MBA candidacy

Fri, 14 Dec 2012 11:16:00 GMT

Fact: the most prestigious business schools favor applicants from the most prestigious companies. For example, according to PoetsAndQuants.com, more than 1/3 of the MBA Class of 2013 at Stanford GSB came from the same six employers: McKinsey, Bain, BCG, Goldman, Morgan Stanley and JP Morgan.

Large companies like these feature professional development programs to support their junior employees in understanding and pursuing graduate school.Such programs are found most commonly in companies that hire a large entering “class” directly from college with the understanding that most will depart after 2-3 years. So, these firms thoroughly guide their young professionals on MBA-application strategies and tactics. Some even host closed-door briefings by the admissions directors from leading business schools.

What if I don’t work for a “McKinsey” or “Goldman”?

So, how can you compete for admission if you do notwork at a blue-chip company with a built-in mentorship program and support network for MBA applicants?

Since the top business schools admit such an inordinate number of applicants from the top consulting and investment firms, those applicants who lack that pedigree need information, advice and resources. These individuals are on their own to figure out which schools to apply to, what aspects of their background are or aren’t relevant, what are their most salient strengths from an admissions standpoint, how to mitigate vulnerabilities, and what to expect from the often unpredictable application process.

If that sounds like your current situation, consider how a professional consultant could help you level the playing field in this zero-sum game of MBA admissions.

Is engaging an admissions consultant the right alternative?

Do admissions consultants really lend an edge? Do they help applicants think through their application platform and career goals? Is it ethical to work with a consultant? If you do thorough due diligence and pick a truly professional resource, the answer to all three of those questions is a resounding yes. When choosing a consulting firm, look for independent verification of their performance and integrity. Then, carefully consider the skills and experience in the profile of the specific consultant advising you.

While professional admissions consultants can add value for applicants from any background, their guidance and support are even more valuable for applicants who lack corporate backing. For instance, an Internet entrepreneur, software programmer or marketing manager for a small company may face an uphill path to b-school if he or she has had little or no prior exposure to MBA applications. However, the right admissions consultant can serve not only as a strategist but also as a mentor, a professional development resource, and a repository of useful information.

At The MBA Exchange, our clients come from more than 40 industries and hundreds of different companies, large and small. Blue chippers and otherwise. Regardless of your background, we’ve helped others like you to optimize their candidacies and achieve their MBA admissions goals.

Next step?

To learn more about how The MBA Exchange can help you “level the playing field,” visit us at www.mbaexchange.com

Admissions Consultant’s Corner: Meet Marina Glazman, Wharton MBA

Fri, 07 Dec 2012 06:30:00 GMT

Here’s the first in a series of interviews with Senior Admissions Consultants from The MBA Exchange. Get to know the professionals who devote their experience, skills and passion to helping applicants gain acceptance to top-tier business schools.

Marina Glazman, Wharton MBA

1.    What’s your best memory of being a b-school student?
One of my favorite experiences in business school was a “Field Application Project” in which four of my classmates and I formed a team and embarked on a 6-month consulting project for the Chief Marketing Officer of Dow Jones’ Consumer Media Group and his team. Pitching the project, working closely with classmates, following our own strategic direction, and ultimately presenting our recommendations for the Wall Street Journal to the CMO, the CFO, and a number of other senior people at Dow Jones was an incredibly rewarding experience to have as a student.

2.    What was your favorite student club?
I really enjoyed the Entrepreneurship Club. This club brought incredibly interesting speakers to campus including tech moguls, media personalities, and a wide range of successful entrepreneurs who had taken unique paths. Beyond this, some of my favorite moments were in the live, venture capital pitch sessions at Entrepreneurship Club conferences, in which VCs provided real-time feedback—and sometimes funding—to the students whose ideas they liked most.

3.    What was an unexpected experience at business school?
During a day trip to New York City with Wharton’s Media and Entertainment Club, we met with a number of media companies and listened to and discussed strategy with their executives. We met with The New York Times, The Wall Street Journal, Warner Brothers Studies, CBS, and several other publications and studios. The biggest surprise happened at CBS where we all ended up on-air, live on the Nancy Grace show!

4.    What would your admissions clients be surprised to learn about you?
They might be surprised to learn that I studied Russian Literature during my undergraduate years. I tell this to clients from non-traditional backgrounds to remind them there is no single path to business school. In fact, there’s no reason for people with “qualitative” backgrounds to fear applying to business school.

5.    What do you enjoy most about admissions consulting?
I love watching my client’s story come together. Many applicants have had quite interesting experiences, but initially these experiences can seem a bit disjointed. Helping a client develop comfort with his or her own story, and identifying the underlying strengths and passions, is a privilege that I value tremendously.

6.    What are some of the misconceptions you hear most frequently from applicants?
A common misconception is that without a blue-chip background (e.g., Ivy League diploma, Fortune 100 job experience) there’s no chance of gaining admission to a top-10 school. But while a blue-chip background has its benefits, there’s a significant opportunity for candidates from other backgrounds to tell differentiated and compelling stories that resonate with the admissions committees.

7.    Which parts of the application do clients typically find the most challenging?
Some clients seem to struggle to define their long-term goals. In many ways, the goals statement is the backbone of an application, yet its importance is underestimated by a large number of applicants who focus exclusively on past achievements.

Marina Glazman is a valued member of The MBA Exchange consulting team. She’s one of the 60 MBA graduates and former admissions officers who have helped over 3,000 applicants gain admission to leading business schools worldwide. If you’re a business school applicant who would like to enlist the experience, energy and talents of our exceptional team, please visit us at www.mbaexchange.com.

Reapplicant realities: How to get it right the SECOND time

Fri, 30 Nov 2012 07:44:00 GMT

Among the thousands of MBA applicants to top business schools every year is a special group: re-applicants. These individuals tried their best to gain admission the previous year, but ultimately were rejected. It’s a humbling experience, made even more stressful by the fact that the adcoms rarely provide any specific feedback explaining the rejection. But reapplicants are tenacious, energized by a fierce desire to overcome defeat with a second try.

If you intend to reapply, you’re probably trying to figure out how to reconstruct your application, capitalize on strengths and mitigate weaknesses for a better outcome. However, the reapplication process is riddled with misconceptions. Three of the most common fallacies are listed below…

Misconception #1: “Re-applying will automatically improve my chances for admission.”

Even if you were interviewed – maybe even waitlisted ¬– during your first application attempt, the mere act of “reapplying” is not enough to overturn the original decision. While preparing and submitting a reapp does show determination, that alone will not make your case. In many ways, this road is even more difficult than it is for first-time applicants since the candidacy is already “anchored” in the initial application and the reapp confirms rejection by comparable schools.

Our advice: Go back to the basics, and ensure that the underlying candidacy is rock solid – professionally, academically and personally. If you find it difficult to be objective and decisive, enlist the help of an expert. After all, the only thing worse than being rejected once is being rejected twice!

Misconception #2: “I have my essays and recommendations from last year, so that’s done.”

You put your heart and soul into last year’s essays. And your recommenders wrote positive reviews about you. However, assuming that your original essays and recs are sufficient for re-application success is a mistake. It’s essential that the content is updated with fresh examples that showcase strengths and address vulnerabilities in your previous application.

Our advice: Identify missed opportunities and unresolved weaknesses in your story, then use the essays and recommendations to help dismiss doubt in the eyes of the adcoms. If you have to start from scratch, so be it. After all, the original application didn’t produce the outcome that you were seeking, so why assume it will do so this time?

Misconception #3: “I was interviewed last year, then waitlisted. So surely I’ll be admitted this year.”

It’s very encouraging to have been invited to interview, and even more so to have been waitlisted. That implies that you satisfied the requirements for admission, but lost out probably due to the limited number of seats available. However, there’s more to it. There was probably something about your candidacy or application that gave the adcom cause to pause. To ignore that in the reapplication is like telling the adcom that they made a mistake in not admitting you.

Our advice: It’s essential to “zero base” your reapplication campaign. Ask yourself – and those you trust – why your first effort was good enough to merit strong consideration, but not sufficient to produce an offer of admission. The reasons can be very subtle and very addressable.

CONCLUSION:

The biggest mistakes reapplicants make involve failing to identify and reverse weaknesses in the previous application, not looking at the entire package from a bird’s eye view, and taking too many shortcuts to avoid re-work. A skilled admissions consultant can guide you through the unique reapp landscape and make sure you take full advantage of your second chance. That’s why we offer an expert ding analysis, and why our Comprehensive Consultation for reapplicants starts with an assessment of the original rejected app.

To learn how The MBA Exchange can help you, please visit us at www.mbaexchange.com.

Should I Rely on Friends for MBA Admissions Advice?

Fri, 23 Nov 2012 09:20:00 GMT

You have friends who have applied to business school. And you have friends currently in business school or who are recent grads. They all have strong opinions what it takes gain admission. Sounds like a real goldmine, right? Actually, this could be more of a landmine if you rely on them as the primary source of guidance for your admissions campaign.

Despite their good intentions, relying on friends, friends of friends, and acquaintances is not a strategy for success. We have identified three critical reasons why it is more prudent to seek the guidance of a professional counselor than the well-meaning advice of your buds:

1. The “If it worked for my friend, it will work for me” myth

The trouble with this common assumption by applicants is that every candidacy is different. Unless a story, an angle, a lesson learned, or an experience described complements the other components of your application, re-purposed content shared by someone else will not work for you. Well-meaning friends draw from their own experience in advising you. But their background does not reflect nearly enough “data points” to make their approach right for you.

2. When you mix too many ingredients you get a mess, not a “cake”

So, maybe your admissions strategy is to ask a long list of friends for advice. The more the merrier, right? But “application by aggregation” is very risky. Just because several ideas sound good does not mean that combining them will produce the optimal final product for you. A challenge that MBA hopefuls face is preparing an application that is a cohesive whole rather than just a collection of disconnected stories. Jamming together “borrowed” ideas only confuses the reader on the other end.

3. Your friends’ loyalty and positive bias can hurt you

Friends know you well. And they like you — perhaps too much. Thus your limitations and vulnerabilities, from an MBA admissions standpoint, are diminished or even ignored by those who are drawn to you based on your positive qualities. In most friendships, maintaining objectivity is difficult. In the eyes of a buddy, you shine. However, one of the essential steps in a successful admissions campaign is the early, accurate identification of weaknesses and the implementation of proven strategies to mitigate them. Unfortunately, the people closest to you are often the most poorly equipped to handle that vital task.

So, if I can’t rely on friends for admissions advice, what do I do?

A professional admissions consultant understands the priorities and preferences of MBA admissions committees and can help you sort through the strong, the weak and neutral elements of your background. You’ll get honest, objective, and focused feedback and guidance drawn from years of admissions success. To learn how you might benefit from the support of The MBA Exchange, please visit us at www.mbaexchange.com.

And tell your caring friends that they’ll be the very first to hear the good news once you achieve your b-school admissions goals!

6 tactics for success in Wharton “team-based discussion”

Tue, 20 Nov 2012 10:47:00 GMT

Having facilitated 6 groups of Wharton applicants practicing for this new admissions test, The MBA Exchange has observed first-hand how individuals can succeed and fail. Simulating the actual sessions held at Wharton, we introduced a discussion topic and then scored applicants’ performance on several dimensions. There was no single technique that prevailed, but rather a variety of approaches to be considered.

How do I do my best?

Here are 6 suggestions for tactics and behaviors for the team discussion that we believe could make all the difference to your Wharton candidacy:

1. Prep for the prompts, but don’t overprepare

Wharton provides two “prompts” or discussion topics in advance. Study these and prepare a compelling 60-second opening statement. But don’t script additional comments because you’ll never use them. The focus and dynamics of the conversation change instantly and dramatically based on comments from teammates. So, stay nimble and conversational. And don’t rely solely on your opinions or theories. Have some hard evidence, personal examples and facts to share.

2. Be succinct, gracious and flexible

How you say it is just as important as what you say. So, don’t make pronouncements!

Rather, pose questions to your teammates that tee-up the NEXT comment and facilitate group discussion. And don’t fight for “air time” – earn it. Interrupting others or totaling disregarding what the prior speaker said is just plain rude.

3. Break silences and bridge gaps

There will be moments when the discussion hits a dead end. The silence can be deafening! And, at other times, viewpoints expressed can be so different that the dialogue comes to a screeching halt. Leaders step up to energize the conversation when it bogs down. Be the one who finds the common ground and “re-boots” the discussion for the team.

4. Challenge others, professionally and productively

Confront teammates who are most vocal or who advocate the strongest position. Everyone sees them trying to dominate, so be the hero who looks them in the eye and asks them – politely but firmly -- to validate their position. Also, you’ll score bonus points for being the one who draws out those who are quietest. Invite them to share their thoughts with the rest of the group.

5. Manage your body language to go beyond your words

You never know when the adcom is observing you. Attentiveness, self-confidence and enthusiasm are demonstrated in your posture and facial expression. Lean forward, establish eye contact, and don’t be afraid to smile! Show sincere interest in teammates when they speak. They’ll return the favor in kind.

6. Drive consensus and closure for all

Team discussions can be spirited, even competitive at times. As the clock winds down to 10 minutes, 5 minutes, then 1 minute, it’s essential for someone to synthesize what’s been said and to present a hypothesis for a shared conclusion. If you sense that the session is coming to an end without closure, help your teammates reach a positive ending together.

What do I do next?

If the above 6 tips resonate with you, consider the value of our Wharton team-based discussion sessions. Participation is anonymous (through the use of nicknames). Not only will you gain real-time experience interacting with other applicants, you’ll also receive individualized feedback from admissions experts and have the chance to review your own performance in a password-protected video recording of the session.

The Wharton team-based discussion is an exciting opportunity for serious applicants to distinguish themselves and impress the adcom. For more information, email us at info@mbaexchange.com.

Why should you attend The Economist’s "Which MBA?" Online Fair on November 14-15?

Fri, 09 Nov 2012 11:11:00 GMT

Take the next step in your MBA journey by connecting with dozens of business schools around the world. Here are the top 4 reasons you should attend the "Which MBA?" Online Fair:

1. Talk to admissions officers and get immediate answers.

When you enter a group chat room or start chatting privately with an admissions officer, you can get answers to all your questions right away. Plus, you can see what other prospective students are asking.

2. Get all the information you need in one place, at one time.

Researching business schools can be a lengthy and time-consuming process. The online fair gives you the information you need in one place, accessible from the comfort of your home or office. Watch videos, browse photo galleries, engage with webinars and download brochures instantly.

3. Find out which schools are right for you.

Complete a compatibility profile that will tell you which schools at the fair best match your preferences – from location, to class size, to program type.

4. Engage with live webinars, or watch on-demand

At the online fair, you’ll have access to over one dozen new webinars and Q&A sessions with business schools. If you can’t attend a live event, the webinars are available on-demand to watch when it’s convenient for you.

So what are you waiting for? Register FREE today to save your spot: http://registermbafair.whichmba.com/mbaexchange

It's your call: Full-time or Part-time MBA Consultant?

Thu, 04 Oct 2012 07:25:00 GMT

A common question that many MBA applicants face when comparing admissions consulting firms is whether to choose a full-time or a part-time consultant. At first blush, full-time may seem like the way to go: you supposedly have your consultant’s undivided attention, while a part-timer has “another job.” So, we decided to dig deeper -- and our conclusion may surprise you.

First: consider the economics. Graduates of top-tier MBA programs earn an average of $100K+ as a base salary. On top of that are bonuses. Now, here comes the real question: How many clients would a top MBA who is a full-time admissions consultant need to earn a six-figure salary like his or her peers? 30 clients? 40? No serious MBA applicant would want to be on a client roster that long.

By comparison, part-time consultants typically serve just a handful of clients at any given time. (That means more attention and faster response.) With substantial income from other sources, part-timers are motivated more by passion and dedication.

Next question: How do you know if an admissions consulting firm really believes in your qualifications and potential before accepting you as a client? Consider their motivation. Firms that feature only full-time, salaried consultants are incentivized to take any and all clients so they can cover the fixed cost of consultant salaries. By comparison, firms with part-time advisors have only variable costs, which frees them to accept only those clients who they truly believe will succeed.

Finally: consultants with daily professional exposure beyond admissions consulting bring real-world, real-time business savvy to their client engagements that full-timers -- insulated from the marketplace -- simply do not have. After all, this is BUSINESS school, right?

So, before assuming that a full-time consultant is the best choice for you, think twice. You may be getting less value than you would with a talented, dedicated part-time consultant.

If you’re shopping for an admissions consulting firm, the 60-member team of part-time AND full-time advisors at The MBA Exchange merits your serious consideration. If you’d like a free evaluation of your candidacy, we’ll also suggest a few consultant matches that would be ideal for you.

MBA admissions essays: Getting it right before you write

Thu, 20 Sep 2012 14:15:00 GMT

What the admissions committee really wants…

The professionals who read, evaluate and cull MBA admissions essays at the top business schools are looking for something far beyond your test score, transcript and your résumé. They want to know what makes you unique. What are your professional goals? How would this education enhance your plans to achieve those goals? How would your candidacy contribute more to the student body and campus life than those of other equally qualified applicants?

Don’t write yet!

Think about all of that and take some time for self-reflection. Before you write anything:

Be objective and focus on your strengths. How do your accomplishments and values mesh with the abstract notion of leadership? Think about other things that set you apart and that would contribute to future classmates, but don't overly dwell on the abstract and anecdotal or you'll get bogged down and quickly use up your word limit.

What are your weaknesses, and how can confronting them turn into opportunities for improving your potential? Don't beat yourself up here. Just be honest and try to relate to the reader, who possibly has gone through the same personal and professional challenges as you.

What about your aspirations? Where do you see yourself 5, 10, or 25 years from now? Can you describe your ideal work routine in terms of how your qualifications lead to professional fulfillment? Don't be generic on this one. Dream big but always connect it to your past or present for credibility.

In sum, what do you bring to the business school and just how can their MBA program help you? Important: Be sure to do your research to identify the aspects of each MBA program that relate most directly to your candidacy. Think about why you and the particular school would be a great match. A great way to get started is with a free, expert evaluation of your strengths and weaknesses.

When you do write, don’t make it like a term paper!

Experts advise that your admissions essay should be fun to read and all about self-discovery. Pity the admissions committee readers who have to read stacks of essays and, above all, try not to bore them. Again, lay off minutiae and write from the heart and the head!

Remember, you need to make sure that your admission essay does not read like it could be recycled for other schools and programs. Your story has to be personalized or else the admissions committees won’t be able to distinguish you.

Answer the question!

Stuck on where to start? Just answer the question or address the scenario posed in the essay instructions. One sure way to aggravate the adcom is to ignore them -- and lots of applicants, sadly, are guilty of that. And, when you’ve drafted the essays, have someone you trust read them and try to figure out what questions were asked in the instructions.

Above all, be honest.

Remember that the admissions committee really wants to know you as a person. Trying to conceal yourself behind a flowery or overly stilted essay will only lead to failure. Also, be certain and consistent in your message about your career plans and how you intend to achieve your career goals. Don't generalize. And never, never, never state facts that are untrue or can’t be documented. Background checks are becoming more common at the top schools prior to matriculation.

What admissions essays do.

Your essay shows how capable a communicator you are. Communication is a necessary attribute of a leader and writing skills are indicative of strategic thought process. So, stay on track and use a structure that makes it faster and easier for the reader to comprehend and remember the content.

Get expert help if you need it.

Essay editing is an exceptional strength of The MBA Exchange. With our input, clients produce powerful outlines and then narrative drafts that we carefully critique and refine for clarity and impact. Our editors are far more than proofreaders or grammarians -- they are communications professionals with credentials from Fortune 500 companies. They understand business and business schools. And, unlike other consulting firms that may boast of being “speech writers” or “published authors,” The MBA Exchange never jeopardizes the authenticity of your essays by replacing your own unique voice with ours.

Every set is thoughtfully reviewed by experienced, skilled professionals from an admissions committee perspective. We help you turn good essays into great ones that capture your value proposition for each school. In fact, our editing skills have earned inclusion in the book, “65 Successful Harvard Business School Application Essays.”

So, contact us for the very best in MBA admissions consultation. Our team includes 9 former MBA admissions officers and 50 top graduates. We’ve been there and we help serious applicants get there!

"Thank you notes" from The MBA Exchange

Tue, 14 Aug 2012 06:45:00 GMT

With kudos to late-night TV host Jimmy Fallon for creating the highly irreverent, comedic genre known as "Thank You Notes," here are some of ours.

1. Thank you, top-tier business schools -- for telling every potential applicant that he or she should apply to your MBA program but then not explaining why they were rejected. Makes our free, preliminary evaluations and our ding analyses even more important.

2. Thank you, Harvard -- for reducing the number of essays that applicants can use to make their case for admission. Makes our proven process for helping develop the underlying candidacy, refine resumes and recommendations, and prepare for interviews essential.

3. Thank you, Wharton -- for introducing the new “team-based discussion” to your admissions review. Makes our interactive-video practice session more attractive.

4. Thank you, MBA admissions professionals -- for requiring that recommenders answer different questions for your school. This makes our guidance to applicants on how to plan recommendations more of a competitive advantage for them.

5. Thank you, GMAC -- for changing the GMAT this year in ways that even the b-school adcoms don’t fully understand. This makes our test-anxiety counseling and customized tutor referrals more beneficial for applicants.

6. Thank you, other admissions consulting firms -- for publishing cheap books and providing free advice for competitors of your paying clients via the internet every day. Makes our proprietary tools and commitment to “client-only” service more valuable.

Finally, and without any sarcasm, we express a sincere “Thank You” to the applicants who trust The MBA Exchange each year to help them achieve their admissions goals. And to our team of brilliant, talented and dedicated consultants and editors who raise the bar for an entire industry every day. If this is the kind of consulting firm that you’d like to engage for your admissions campaign, then The MBA Exchange is eager to say “thank you” to you. Just let us know at info@mbaexchange.com.

Thank you!

New service for Wharton applicants facing "team discussion" evaluation

Mon, 23 Jul 2012 11:32:00 GMT

It’s official! Wharton will assess its 2012-13 applicants through a new “team-based discussion” with fellow applicants facilitated by the MBA admissions staff. This new “evaluation method” is in addition to Wharton’s traditional admissions interview.

Vice Dean Karl Ulrich Will recently explained that candidates will “interact with fellow applicants through discourse involving real-world business scenarios, which will highlight how they approach and analyze specific situations. We believe that this type of assessment also serves as a tool to take prospective students ‘off the page’ and allows us to see firsthand the ways in which they can contribute to our community of diverse learners and leaders.”

However, before you get stressed out, here’s an exciting new way for applicants to prepare for this new evaluation. Anticipating the announcement from Wharton, two weeks ago The MBA Exchange launched an innovative new service to help Wharton applicants perform at their best and pass the adcom’s scrutiny during the team discussion.

The MBA Exchange’s new prep service features password protected, fully-encrypted video conferences for groups of 4 to 6 applicants. To ensure privacy and anonymity, participating applicants identify themselves with nicknames. Lasting approximately one hour, these scheduled video sessions are administered by veteran MBA graduates and former admissions professionals with prior experience assessing, advising and/or interviewing Wharton applicants. (Our consulting team includes a former Wharton associate director of admissions as well as 7 Wharton alumni with admissions backgrounds.)

As with the actual Wharton test, The MBA Exchange facilitator presents a discussion topic and then steps back so participants can interact freely. The admissions consultant observes the session carefully and afterwards provides actionable 1-on-1 feedback to each participant via a confidential scorecard. This new service from The MBA Exchange is offered to at no additional charge to our Wharton applicants as part of the comprehensive admissions consultation package.

“The initial response to our service from Wharton applicants has been amazing,” said Dan Bauer, managing director and founder of The MBA Exchange. “By participating in our simulated team sessions with their peers, applicants will develop greater skill and confidence before entering a more stressful environment in the actual Wharton admissions test. As with the guidance and support we provide on all other aspects of the admissions process,” Bauer added, “our experience and objectivity are valuable resources for applicants anticipating Wharton’s new test. This is an exciting way for our clients to distinguish themselves and maximize their chances for admissions success.”

For more details about this exciting new service for Wharton applicants, please contact The MBA Exchange at info@mbaexchange.com.

Low GPA: Is it "Game Over" or "Game On" for MBA Applicants?

Tue, 10 Jul 2012 07:06:00 GMT

The bad news: You didn’t do nearly as well in the college classroom as you could have.

The better news: A low GPA is not necessarily a showstopper in seeking admission to top-tier business schools.

In Kaplan Test Prep’s 2011 survey of 265 MBA admissions officers (including 16 of the top 25 programs), only 24% those decision makers said that a low undergrad GPA is the leading reason for rejection – less than half (58%) of those adcoms who said that a low GMAT or GRE was the key to giving a thumbs down.

For the Class of 2012, GMAT scores at Harvard were as low as 570 vs. the median 730 score. So, if Harvard shows this kind of latitude in admitting applicants with low GMATs, it’s reasonable to assume that there is still a chance for those with a GPA below their 3.66 average (per US News & World Report).

So, if you were an undergrad underachiever who now intends to seek admission to a top-10 bschool, here are 9 timely questions to ask… and answer candidly:

1. How bad is “bad”? If you have a ~3.0 GPA, then you’re definitely not out of the game. However, if you’re talking >2.5, then the challenge may be an insurmountable one. We’ve been successful with applicants who had GPAs as low as 2.2, but it’s not easy.

2. How was your GMAT performance? A score above the target school’s median is the fastest and best way to overcome a weak GPA. Every point above 730 will help. And remember the importance of getting an 80%+ in the Quant section and a 4.5+ on the AWA.

3. What was your academic major? If your undergrad degree was in physics rather than, say, communications, then a lower GPA is far less of an issue. Rigor rules!

4. Where did you attend college? Is your alma mater an Ivy or online? The stature of the undergrad institution is a major consideration. For instance, according to PoetsAndQuants.com, approximately 30% of Harvard’s incoming class are grads of the 8 Ivy League schools. Less than 18% come from public universities. So, pedigree matters! Princeton trumps Phoenix every time.

5. Did your GPA trend up or down? If you had a tough freshman year but then rallied to earn all A’s during your senior year, that’s the kind of uptick that MBA adcoms love to see.

6. What circumstances led to the sub-par GPA? If issues such as family, health, part-time work, or extracurriculars impaired your classroom performance, then you need to explain those factors. Turn it into a true story of persistence against all odds.

7. Who is your employer? According to a 2011 PoetsAndQuants.com article, of the top organizations sending the most employees to Harvard, financial and consulting firms represent 20 of the top 25, with only two high-tech companies and one non-profit on the list. Having a resume that features a major feeder will help mitigate a modest GPA.

8. What impact have you had on the job? Demonstrating strengths and skills at work that leverage classroom learning can really help. Having professional recommenders describe these abilities in glowing terms will make your story more credible.

9. Do you have the endurance and confidence to complete extension courses? The most convincing “do-over” for applicants with a poor GPA is to achieve A’s in challenging, relevant pre-MBA courses from accredited universities. So, return to the scene of the crime and show your true potential.

As you can see from these questions, it’s critical for applicants to assess their candidacy beyond the GPA – because that’s what the adcoms will do.

How to start? Request a free, expert evaluation of your professional, personal AND academic profile from The MBA Exchange. We’ll let you know if your low GPA means “game over” or “game on”!

Don't play with 'matches'! Timely advice when choosing an MBA admissions consulting firm

Fri, 22 Jun 2012 06:31:00 GMT

5 key considerations when deciding which firm and consultant are best for you.

With business school application deadlines approaching rapidly, future MBAs are actively exploring their options when it comes to selecting an admissions consulting firm. And the volume and variety of those options can feel overwhelming at times! At the heart of this important decision is the question: “Who is the best match for my candidacy?”

The first step is to assess each firm by asking some tough questions, including: What is their track record for admissions success? Do they offer independent verification of that success? How do their past clients – even the unsuccessful ones -- feel about the service they received? What are the credentials and profiles of the individual consultants?

Answers to such questions will help you narrow the list of firms you’re considering. But then you need to ask even more crucial questions: How many options do I have in selecting the consultant who will work with me? Which consultant does the firm identify as the best choice? Why and how was that consultant picked for me?

In considering a proposed consultant match, look for the following factors:

1. Some common or complementary background (e.g., undergrad major, industry or functional experience, cultural heritage) that will foster bonding between consultant and client.

2. Compatible communication and work style that will ensure efficient, effective and – yes – enjoyable collaboration.

3. Accessibility and attention that are not “stretched” by an excessive roster of other clients.

4. Responsiveness to your questions within 24 hours or less so there’s no undue stress or delay in advancing your admissions campaign even as the deadlines approach.

5. A formal process in place for resolving any unexpected issues or, as a last resort, changing consultants.

Some high-profile admissions consulting firms don’t even list the bios of their consultants on their websites. And others leave the matching process up to whoever picks up the phone when a prospective client calls to inquire. At The MBA Exchange, the size, diversity and quality of our consulting team ensure a truly customized fit for each client. We proudly feature consultant profiles on our website and have distinguished our firm with an unrivaled matching process. Our managing director makes each "client/consultant" match personally, thoughtfully and strategically -- after completing his own thorough analysis of the client's background and goals. Key considerations include the targeted schools and the professional, academic and personal background of both parties, as well as the consultant's track record, communication style and responsiveness. We even consider the prospect’s “personality profile” using a confidential online test designed by a psychologist.

So, if you agree that the process for selecting the best firm and consultant is critical to your MBA admissions success, then don’t play with matches! A thorough, disciplined and objective comparison of firms will produce a pairing that adds value to your candidacy from day one.

Harvard announces bold changes to its MBA admissions process

Tue, 22 May 2012 12:56:00 GMT

Harvard Business School has just announced a number of major changes to its MBA admission practices impacting both regular and 2+2 applicants.

These moves include:

1) Two essays instead of the previous four:
•    Tell us something you’ve done well. (400 words)
•    Tell us something you wish you had done better. (400 words)

2) A third “reflections” essay to be submitted within 24 hours after the admissions interview. The topic is what the applicant wished he or she had said during the interview session -- but didn’t. The “written reflection of the interview experience” will be submitted via Harvard’s online application system.

3) Earlier application deadline (September 24) and decision date (December 12) for Round 1 applicants.

These are bold, exciting and potentially beneficial changes for serious applicants to Harvard Business School:

•    Fewer essays mean that every thought and word will count even more in positioning the candidacy and making that critical first impression. Those individuals who know themselves and can integrate their past, present and future best will thrive.

•    The focus of these essay questions is similar to Stanford’s well-known question, “What matters most to you and why?” HBS is now allowing applicants to paint a more complete picture of themselves. Rather than just drawing from the resume, these new essays will showcase the individual’s self-awareness without any constraints.

•    The 24-hour turnaround for the third essay may add some stress, but it is also an unprecedented opportunity to address what is most important to the admissions board. A well-crafted essay can help close the deal for an astute applicant.

This new approach to the admissions process at HBS will make the support of an admissions consultant more challenging -- and more valuable. Understanding and strengthening the applicant’s underlying candidacy – academic, personal and professional – is the first step. Strengths have to be showcased, and vulnerabilities have to be mitigated, well before essay writing starts.

And, since HBS will have less essay content to help them determine who will be interviewed, the other elements of the application will have to work harder than ever. Your resume, recommendations and application must be planned and executed more thoughtfully and thoroughly. And, most importantly, the breadth and depth of the interview prep process is critical.

The MBA Exchange welcomes these changes at Harvard and is ready to help serious applicants get started immediately. Our holistic approach to developing, positioning and presenting the candidacy is ideal for those facing these changes. Our rigorous interview prep process -- including 25 pre-recorded/simulated admissions interviews online at our exclusive web video facility -- will help applicants face the HBS interview with high confidence. And our 24-hour-or-faster response policy means that clients can keep pace with the requirements of this new HBS process with maximum quality and minimum stress.

So, if you’re planning to apply to HBS for Round 1, the time to get started is now. And the resource to engage is The MBA Exchange. How to begin? Contact us for a free, expert evaluation of your Harvard MBA candidacy.

MBA Admissions Fairs: Where a world of b-schools comes to meet you

Mon, 14 May 2012 07:08:00 GMT

Spring is in full swing and, for the next several months, it’s the season of MBA admissions events. Maybe you’re wondering how valuable it is to attend these gatherings. Well, if you’re even thinking about pursuing an MBA, there isn’t a better way to find out about schools down the street and in far-flung corners of the globe.

Especially if you're unable to schedule campus visits to b-schools of your choice, these forums represent a one-time opportunity to actually meet the admissions officers who ultimately will decide your fate. Seizing the chance to introduce yourself, ask insightful questions, size up competing fellow applicants, and get yourself motivated for the admission campaign ahead are great reasons to register and attend.

Some schools put on their own "information sessions" – on campus and in major cities – whereas admissions fairs are large events at which multiple schools are on display in a "tradeshow exhibit hall" setting. Most offer presentations or panel discussions on related topics. But the major draw is the chance to chat with an admissions representation at the school’s table.

Registering early is important as most of these events have limited attendance and will turn away late-comers. Planning in advance which MBA programs you want to approach, what aspects of your background you want to share, and which questions you should ask is vital. We've actually developed a punch list of a dozen must-do's that our MBA Exchange admissions clients have found very effective.

One particularly attractive series of fairs is sponsored by Access MBA Tour. There’s one coming up on Monday, June 18, in New York City. Follow this link to register and for full event details More than just a tradtional "fair," Access MBA Tour events enable future MBAs to meet with admissions decision makers, career advisors and GMAT tutors on a one-to-one basis, bringing together applicants and international business schools in over 30 cities around the world. This year they’re including more schools with campuses in China and the UAE – locales where it’s becoming increasingly popular to pursue an MBA.

One especially important consideration: even if the roster of participating schools doesn’t include your immediate targets, there’s value to going to such an event. First of all, you’ll immerse yourself in the world of MBA education, which can only make you a more knowledgeable and confident applicant. Secondly, you’ll get a chance to practice your interpersonal communication skills in a no-risk setting. And, finally, you might discover a hidden gem -- some particular MBA program that’s perfect for your background and goals but that you had not considered previously.

Find out when and where you can participate in a fair. Shine your shoes, polish your "elevator pitch," and show up ready for some serious schmoozing with some very important people. Your enthusiastic participation now could make a big difference later when MBA admissions decisions are announced. Why miss a prime opportunity to increase your chances for b-school success?

Best way to learn about a bschool's culture before you apply?

Tue, 01 May 2012 05:35:00 GMT

Every business school has a dynamic website, holds friendly info sessions worldwide, and hosts campus visits for future applicants. Furthermore, most future MBAs have friends or colleagues who are current students or recent grads, eager to discuss their alma mater’s wonderfulness. These are great sources of information and insight, but they each have biases and limitations that can constrain or even distort your perception of the program.

So what’s the best way to observe the culture of a business school before you apply? Read the online student newspaper over the period of several months. Most are published weekly, so you’ll always have current sense of what’s important and timely. And most have “archives” that enable you to explore an entire academic year. The featured stories are planned, researched and written by students for students. So, these publications vividly convey the true priorities and passions that define the culture.

To illustrate this point, let’s take a look at the headlines and lead stories from five student newspapers for just one day: April 27, 2012:

Chicago Business (Chicago Booth):
“Giving Something Back raises $63,000 in 12th annual charity auction”
This article describes how proceeds of a major auction event are being allocated to three local organizations that support the education of inner-city children and those with physical disabilities. Given this emphasis on social awareness and conscience, we see the softer side of Chicago Booth, a program more commonly known for its analytical rigor and Nobel Prize-winning faculty.

Harbus (Harvard Business School):
“Spotlight on Ypsos, the FIELD 3 turnaround success story”
Here the CFO of a FIELD team vividly describes his team’s roller-coaster ride as their mock company’s stock drops and then -- after intensive team effort and soul-searching – rebounds to respectability. This is a far more vivid description of this exciting program that a prospective applicant could gain solely from reading the school’s website. More importantly, it goes beyond the facts and figures to show how students have embraced this learning opportunity.

Monroe Street Journal (Michigan Ross):
“BBSA 2012: A Vision Renewed”
This report summarizes the recent annual conference of the Black Business Students Association. Furthermore, the article praises a professor emeritus who, over the span of five decades, mentored minority students and prompted affiliation with the Consortium for Graduate Study in Management. So, while every b-school expresses interest in attracting more minority applicants, we see that the Ross culture actually celebrates it.

The Stern Opportunity (NYU Stern):
“Five Keys to Your Spring Job Search”
This pragmatic look at what it takes for MBA students to “land your dream job” includes insights and actionable tips from a career counselor as well as two Stern alumni. So, while many bschools have PR campaigns that convey how their grads are receiving multiple job offers with soaring salaries, Sternies are confronting the realities of a staggering economy by mobilizing career services professionals and loyal alumni to help current students launch proactive employment campaigns.

Wharton Journal (Wharton):
“The New MBA Curriculum”
An in-depth Q&A interview with a Vice Dean -- accompanied by a large smiling photo -- offers a very informative, objective view of what the changes are, the motivation behind them and the anticipated impact on current and future students. The focus expands to describe how Wharton is also putting more emphasis on “clusters” rather than just the traditional learning teams and cohort.
So, we see an institution where administrators continue to be visible and vocal after matriculation. Clearly, Wharton realizes who the “customer” is by ensuring that students understand and embrace policy changes.

Extra, extra, read all about it!
These are just five articles from five schools on one day. Imaging how much more information awaits you! By reading a broader array of stories in more editions, you will start to connect the dots and grasp what each MBA program values most. Doing so over a period of weeks and months will help ensure that you have a more complete picture of the culture. If this process convinces you to drop a given school from your target list, that’s an important outcome that can help you avoid a big mistake down the road. Or if following the student newspapers confirms that this is truly The Place for you, then you’ll have an abundance of impressions and observations to share in your upcoming essays and interviews. Either way, you win.

How do I start?
If you’d like to start your ongoing review of student newspapers, we feature links to many of them (as well as official blogs and other school publications) on our website. This is just one of several proven tactics that we introduce to our admissions clients at The MBA Exchange. By reaching out to observe, learn about, and interact with the school community, you can develop a more robust candidacy and maximize your chances for admissions success.

Part 2 of 2: Immediate "Must Do's" for Serious MBA Applicants

Mon, 16 Apr 2012 08:49:00 GMT

If you’re planning to apply to a top business school in 2012 for enrollment in 2013, it’s very tempting to procrastinate. After all, the deadlines are more than six months away. The new applications won’t be available until summer, right? And there’s so much on your plate already with work, family, friends, vacations, etc.

Well, if you’re determined to be among the select few who gain admission to their dream schools, then the worst thing you can do is delay the start of your campaign.

If you missed our previous blog post, featuring the first six steps, click here.

Here’s the next set of six immediate (yes, immediate!) steps that you can and should initiate.

7. Examine and clean up your social media profile

More than ever, MBA admissions committees are researching and assessing the online presence of applicants. What will they see when they Google your name? What are others saying about you? Have you considered individuals whose names are similar to yours? The stakes are too high to take chances. If you’d like a thorough, professional audit of your online profile, let us know. In fact, we include this service at no extra charge in our Comprehensive Consultation.

8. Check school websites for upcoming info sessions and forums

Whether or not you can visit campus, there’s a good chance that administrators and alumni from your targeted schools will be coming to a city near you this summer to hold an info session or participate in an admissions forum. Seats fill quickly so be sure to register as early as possible. You’ll use this opportunity to learn more about the schools and, more importantly, to help them learn more about you. In fact, this could be your only chance to shake hands with the admissions officers who later will decide your fate. Planning ahead can help you make an impression that proves very beneficial later.

9. Pre-qualify and cultivate your future recommenders

The best recommenders are those who know you best -- personally and professionally. If you don’t already have at least three great choices in mind, and if you don’t know whether they’ll write wonderful things about you, then you have work to do starting now. Approach and cultivate individuals who could be strong recommenders. Invite them to coffee or lunch. Probe to see how much they know and how they feel about your past, present and future before you ask if they’ll provide a rec. Watch for early signs of jealousy, reluctance or ambivalence. If they don’t step up enthusiastically, then you still have ample time to source better options.

10. Check your college transcript for “surprises”

It’s probably been a few years since you took a look at your official undergrad transcript. Perhaps you’ve never seen it or can’t find it. Contact the registrar’s office today to order a transcript so you can review it line by line. If there’s a mistake or discrepancy in how a grade is reported, it can take you months to reconcile it. And if there’s a low grade, especially in a quant course, you’ll have time to sign up and complete an extension course with an “A” to mitigate it.

11. Initiate your financial plan

Two years at a top MBA program can cost you more than $175,000. Plus there’s the foregone income to consider. You can’t rely on getting aid, so now’s the time to determine if and how you’ll pay for the education you’re seeking. There are experienced financial planning experts available who can help you find the best resources at the lowest cost. But you have to beat the fall rush in order to get the attention and support you need.

12. Look into accent-reduction coaching and immigration planning

If you’re a non-native English speaker and/or a non-US resident targeting US business schools, two topics for you to consider now are accent reduction and immigration planning. It can take months to reduce an accent that might be problematic in an admissions interview. We arrange a free professional assessment for our clients. And the red-tape that can make immigration such a nightmare is addressable with the expertise of an immigration specialist like ours. The key to avoiding or resolving these issues? Start now.

And here’s one more “Must Do” that’s so important, we’re repeating it from our previous post:

If you haven’t already done so, get a free expert evaluation of your candidacy!

The best way to learn what you need to optimize your candidacy is to get expert, objective feedback on your professional, academic and personal profiles. We’ve helped thousands of MBA applicants to discover aspects of their candidacy – both strengths and weaknesses -- that they never realized could matter. All it takes is 5 minutes to complete our confidential, online input form. You have the option of uploading your resume if there are additional details you’d like us to share.

In closing, we want to emphasize that time is your greatest ally and asset if you make it work for you. Waiting to launch your MBA admissions campaign means that your competitors – even those with lesser candidacies – gain an immediate advantage. If you’re playing to win, then start today.