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B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:
Getting into B-School — GMAT Enough?
From: pachi To: All
Hi,
I am working as a Risk Analyst(build statistical models) at a MNC bank in India. I am an engineer by education. I had started a company during my college days and it is still running with near Rs.1,000,000 revenue.
I have taken GMAT twice and got the following score GMAT 1: 660 - Q50 V28 - AWA 5 GMAT 2: 700 - Q51 V33 - AWA 4.5
I am planning to apply 3-4 b-schools which are in top 10. I heard that being a male Indian engineer puts you into a very competitive pool and this gmat score(700) is not enough.
I am a CFA level 2 candidate. I am planning to app next year(for 2012-2014 batch) and was thinking of using the time research colleges/post-MBA goals, work on my profile, and of course, CFA level 2 exam.
How important is the GMAT in my case? Should I be worried about the score?Should I take GMAT again?
Thank you in advance.
From: JinShil2 To: pachi
It depends on your definition of "enough". It is enough to be competitive. It is not enough to give you a good chance.
The male Indian engineer GMAT average at top 15 schools probably hovers around 720-740. So your score is within the ballpark but you better have something else in your profile that beats out higher Indian male GMAT scorers to get in.
Every year, I see posts around April/May here of 680-710 GMAT scorers who didn't get into any top 15 school. Most of them seem to be white/Indian/Asian males.
Lastly, don't focus just on GMAT. Don't forget great essays. I recommend you hire an admissions consultant.
From: Personal MBA Coach To: pachi
If you are confident you can improve your GMAT without too much work, I would recommend recommend trying to do that. Also you didn't mention your GPA which is an important factor as well as your leadership stories and your overall application strategy. The business you started is great but it won't quite get it all done for you. Good luck, reach out with any questions, I help applicants with your profile all the time.
-Scott
From: ransilo To: Personal MBA Coach
Hi Scott,
I noticed you are an admission consultant....could you please tell me my chances for the Top 10 Programs, and if some are better than others given my profile?
Graduated in finance with a 3.85 GPA. 690 GMAT (48Q, 37V). Worked in Fixed Income Structuring at a BB firm for 3 years after college. After working in BB, I started a small hedge fund that grew to manage approx. $15 million at its height. I have been at the hedge fund work independently for the past 5 years. However, the fund wound down a few months ago because of market conditions, etc. Would like to goto b-school to establish more connections in the industry then relaunch myself career-wise doing trading at a bank/hedge fund and then eventually start my own fund again once i have more experience/connections. One recommender will be my supervisor at the BB, the other will be an investor in my fund (since i dont have a supervisor). They will both be very strong.
Had good EC activities in college. President of the banking club, vice president of the finance club. Did some volunteer work with some minority-organizations. Traveled to SE Asia once to work with helping the poor. Thanks for your advice!
From: pachi To: Personal MBA Coach
Hi, I have a CGPA of 6.71/10 in a premier institute in India. I did not concentrate on my acads during undergrad as I was concentrating on my startup.
Before undergrad my acads are really good. Was selected for the National Physics and Chemistry Olympiad. CET & AIEEE(read SAT) rank of 24 and 44 respectively. Scored 100/100 in physics, chemistry and maths each.
At present I am working as a Credit Risk Analyst at a MNC bank. Work is really good and have learnt a lot. Got to work on sub-prime mortgages and was involved in designing the "damage-control" strategies. Have worked on building models for Canada, Turkey, prime and sub-prime portfolios of USA. Have worked across product lines - mortgages, NRE and cards. Within 6 months of joing the bank, I was able to create a $150,000+ impact single handedly and recently I was awarded a leadership award in recognition of my leadership skills and commitment. Even though I am working in India, I am nominated for a core contributer award in USA. This is the first time that a off shore person is being nominated for the award.
I am also a CFA level 2 candidate. Hoping to clear it in the coming June(2011).
From: Personal MBA Coach To: ransilo
Your work experience is pretty interesting, the HF will set you apart from a lot of folks. Where was your undergrad? your GMAT won't really help you, any chance of improving that or is it the ceiling? Its not terrible but you're below avg as you know so keep that in mind.
Are you interested in behavioral finance? Yale is a great school for that, and there are some nice recruiting opportunities out of there, also easier to get into. You should throw your hat in for Columbia and Wharton as a stretch (I say that because of GMAT, and not knowing your undergrad)
Do you want to branch out beyond finance? I mentioned schools with good finance programs. NYU is also one to look at, again not as great as some of the others but nice recruiting opportunities in NYC. Where else were you considering?
-Scott
From: Personal MBA Coach To: pachi
How does your award at work compare to things your peers have received? What was your GMAT? What college did you go to, and what was your startup that you were focused on?
Need some more info before helping out. What programs are you interested in or are you just exploring at this point? Also what type of leadership roles have you had to date?
-Scott
Getting into B-School — No Non-Cosigner Loan?
From: VWLK To: All
I didn't find anything about non-cosigner loan for international students from kellogg's website. Does it mean the school doesn't offer it?
Anyone knows?
From: BosMBAasap To: VWLK
This is just my opinion: I go to a peer school to Kellogg and we partner with a financial institution to provide students loans for international students at close to the rate that US students pay on loans. I can almost guarantee that Kellogg does the same. Here's my reasoning: look at the percentage of international students, you have to assume that only a fraction of them are sponsored, on full scholarship or have the means to finance their MBA educations otherwise. The rest have to have some method of paying for attendance right? I highly doubt a school like Kellogg would let a high value applicant slip through their fingers because of financing. Call them, definitely a question I'm sure admissions has a clear answer on.
From: numbersky To: BosMBAasap
Columbia requires a cosigner.
From: TraderJoe To: VWLK
Schools with No-Cosigner Loan Programs in Place
Darden School of Business at the University of Virginia at Charlottesville
Fuqua School of Business at Duke University
Haas School of Business at the University of California at Berkeley
Harvard Business School:
Ross School of Business at the University of Michigan at Ann Arbor
Sloan School of Business at the Massachusetts Institute of Technology
Stanford Graduate School of Business
Tuck School of Business at Dartmouth College
University of Chicago Booth School of Business
Wharton School at the University of Pennsylvania
Yale School of Management
Schools With Loan Programs Requiring Co-Signers
Anderson School of Business at the University of California at Los Angeles
Columbia Business School
Johnson School of Business at Cornell University
Kellogg School of Management at Northwestern University
Stern School of Business at New York University
From: sahiljain22 To: VWLK
It still offers it for sure. Search for International Student Loan Kellogg Option B
From: Vasco To: All
Unfortunately, I understood that is mandatory Co-signer for all types of loan.
Getting into B-School — Percentage Admitted in 3rd Round
From: marsun To: All
Hi
Anyone knows what's the percentage of the students admited in 3rd round in the b schools that have 4-round application? For example, Tuck, UNC and so on. Is the percentage less than 30%?
Thanks
From: ColumbiaYesorNo To: marsun
The overall acceptance rate is 19% for Tuck. EA accepts the most, 20+%. Round 3 the least. My guess. 10%
From: Personal MBA Coach To: ColumbiaYesorNo
Try not to focus too much on percentages by round because the stats are skewed. Each round has a slightly different caliber of people who apply and thus while the stats vary, so do the quality of the applicants. Avoid applying in the last round, and aside from that, apply when you are ready to put together the best application. Good luck!
-Scott
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College grads, MBAs, PhDs . . . regardless of where you land on the academic food chain, diplomas haven't counted for much over the last couple of years. So it's amazing, at least to me, that people still give money to the schools that issue them. And MBA alumni from the elite U.S. programs aren't just giving. As Alison Damast reports, more of them are giving, albeit a bit less than they used to. As a barometer on the value of the degree, alumni giving is a good one: people who view their degrees as worthless are in no hurry to open their wallets. But this year the message is mixed at best.
As most of you probably know by now, Wharton, which invented the collegiate school of business in the 19th century, took a bold step into the 21st, approving its first new MBA curriculum in 17 years. It's a sweet deal, too. For students, it comes with post-graduation access to free executive education courses, for life. Management is an evolving art, and what passes for knowledge in an MBA classroom has a shelf life of about 20 minutes. But what Wharton has managed to do, in one bold stroke, is nothing less than removing the "sell by" date. Will Harvard, Kellogg, Stanford and the rest follow in Wharton's footsteps? Stay tuned.
Louis Lavelle Business Schools Editor Bloomberg Businessweek
UCLA Anderson: Admissions Q&A MBA Admissions Director Mae Jennifer Shores explains what UCLA's Anderson school has to offer and what it takes to get in
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