THE NEW MATH For MBAs, Breaking Even is a More Distant Dream Higher tuition and lower starting salaries mean it now takes MBAs nearly a year longer to earn back their B-school investment than it did in 2008
MBAs Say Strong Management is Key to Employee Retention Performance bonuses alone are not enough to retain employees, according to essays from the mid-term exams of 800 first-year MBA students at the University of Pennsylvania's Wharton School.
BEST BUSINESS SCHOOLS 2010 Business School, Explained Is business school on your horizion? If so, get answers to all your questions on admissions, careers, and B-school life from the experts
B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:
Getting into B-School — GPA
From: Wahoo22903 To: All
Hey,
I'm currently in a masters program straight out of undergrad but I will be looking to get my MBA a few years down the road. Will my GPA from my masters program be given more importance versus my undergrad GPA when I apply?
Thanks
From: tmino To: Wahoo22903
Your undergrad GPA usually carries more weight. It shows your academic ability over a 4 year period, vs. a master which takes 1 year making it easier to get a higher GPA. Also depends though where you get your masters from (e.g. ivy league university would be a plus). However, having a high masters GPA will help offset a low undergrad GPA a bit. Check more on GPAs: http://www.skoolix.com/MBA-Admissions-GMAT-vs-GPA.aspx
From: MasterTheApp To: Wahoo22903
Think of the academic record from your graduate program as an extension to your undergrad GPA. If your graduate grades/GPA are stronger, this will bode well for you, as it demonstrates promise and capabilities to academically succeed at the graduate level.
However, keep in mind that business schools are considering every component of your profile (e.g., essays, grades, GMAT score, reco letters) when evaluating your candidacy. Your GPA is only one data point in the entire portfolio. If you are planning to pursue an MBA down the road, ensure that you are taking a holistic strategy to your applications.
Hope this helps...
With warm regards, Serena A.
Getting into B-School — HELP! Stanford Recommendation Mistake
From: TechFinanceGuy To: All
Hi everyone,
First time poster here (also posted on GMATClub too) but I really need help. I asked a very senior supervisor at my company to write my letter of recommendation for Stanford that's an old alum of GSB. I worked with him a decent amount but we're not close friends or anything by any means.
He agreed to write me a letter of recommendation and submitted it before I had a chance to look at it. However, he did send me a copy of his letter after the fact and quite frankly it was bad. It wasn't negative but he didn't answer the question and it wasn't a strong endorsement for me by any means. I'm pretty sure I won't be able to get in with that letter. I only asked him because Stanford is my top choice and it was a bit of a gamble to ask him - one that did not pan out well.
I would like to know if there's anyway I can salvage the situation. So far, I've thought of the following options: 1. Do not apply to Stanford. Better to not send in an application than a terrible one. 2. Ask my supervisor to withdraw his recommendation and write a new one/ or find someone else to do it. It would be a very delicate conversation to have (he's sensitive to criticism) and I'm not sure what the readers of the application would see or know. 3. Create a new application and have new recommendations submitted. I'm not sure if this crosses any ethical boundaries or if they cross-check internally. I don't want to cross any boundaries here so I would like to know if this is appropriate or not.
I would really appreciate everyone's perspective on those 3 options and if they have any other ideas. I know I screwed up here, so let's move past that point and would love any constructive advice.
Thanks
From: roundel To: TechFinanceGuy
Just apply with the crappy recommendation! I'm applying too so need my competition eliminated!!! Just kidding ....
How bad is the recommendation? Honestly, is it really that bad, or does it just need to be fine tuned? I think applicants to the Stanford GSB can be overly critical sometimes. I obviously don't know you, but that's what I've come across with my friends. If this is a GSB alum, then it will reflect poorly on him.
I would go with option 2, but tell him the areas where you think could be improved or provide examples/suggestions to him. Although he may be sensitive to criticism, wouldn't it suck if you get dinged??? Part of life is having difficult conversations with people. If you really want this, then you'll figure out a way to make it work out for you. It also depends if you think this recommendation will make a difference ...
From: roundel To: TechFinanceGuy
So I'm curious, what did you end up doing? My recommendations are in and one of my recommenders sent me the letter. It was decent but I'm not sure about the other two....
From: TechFinanceGuy To: roundel
I decided to apply still to Stanford. I already got into my #3 choice business school during round 1 and I'm overall pretty happy with that school.
Really aiming for HBS and Stanford during round 2 since my application wasn't polished enough for both of them during round 1.
I asked someone else who I've worked with more closely to provide a supplemental recommendation which I probably should've done in the first place to be honest.
My only concern is that what i'm doing will detract from my HBS app time but I don't plan on applying to bschool again so might as well.
Good luck with everything on your end.
From: roundel To: TechFinanceGuy
Congrats! What school was your #3 choice? I'm applying to all Round 2 schools and just uploaded my essays for Stanford. I'm hitting the submit button tomorrow... I can't quite do it tonight ....
Good luck!
From: TechFinanceGuy To: roundel
Wharton. Was going to apply to Harvard and Stanford round 1 - probably should've done Stanford round 1 actually. Good luck with submitting - I'm still working on my Stanford essays. Don't really expect to get in at this point but it doesn't hurt at this point.
I submitted my Wharton app with 5 minutes to spare - going to be the same again.
From: roundel To: TechFinanceGuy
I feel the same way about my chances, but I guess miracles can happen. Good luck and congrats on Wharton.
Getting into B-School — Are Online MBAs Worth It?
From: AnonymousPerson To: All
Hello,
I am in my late 20s and have recently undergone a career change; I went from working in IT to owning my own (non-IT related) small business. At this point I am pretty sure that I no longer want to work in the information technology field, but would rather pursue further training in business management. I would like to return to school in a year or so to work towards an MBA. However, I have no interest in getting into the best possible school my qualifications will allow. Rather, I want a program that is accredited, will leave me knowldegeable and competent in the business management field, and whose degree will not be frowned upon.
I enjoy owning my own business, but would like to transition back into the normal workforce eventually (my spouse, who is co-owner, will take over duties along with an employee). I feel that a combination of practical business experience and an MBA will allow me to obtain an enjoyable position with a modest (70k or more) annual salary.
After researching, I found that a local university, CSU Dominguez Hills, offers an online MBA. On the one hand, this sounds great; it is inexpensive, online courses mean less time and worry getting to and from campus, plus I am actually within a reasonable distance to the campus should I ever need to actually go. But I have reservations; are online MBAs even marketable? The university itself is real and accredited, and while not a top tier school nor nationally recognized, it is a decent local univeristy. But I am concerned that what potential employers would focus on would be the online aspect of it, more than the unimpressive school ranking.
Does anyone know much about how an online MBA from CSU Dominguez Hill's--or any other accredited state university--is viewed? Would I just be wasting time and money on a degree no one would trust? Also, I don't know if it's relevant but here is some back info:
* I have a BA from a top ranked school and graduated less than a decade ago. However, it is in one of the liberal arts and I was merely a B student. * I have about 20 semetser units of economics an accounting classes taken as a post-graduate (although they were u ndergrad courses) with a cumulative GPA of 3.6. * I previously worked for three years as an IT profressional until I was laid off a year ago.
Thank you very much for your input.
From: sacred To: AnonymousPerson
Absolute waste of money. Look into Duke's Online MBA.
From: JinShil2 To: AnonymousPerson
You want to get a CSU Dominguez's online MBA?
It is safe to say it won't have tremendous market value.
I would have some doubts about the value of MBA outside of top 50.
Not everyone with even top 20 MBAs are doing well especially in this economy.
I think U of Florida (Warrick) has an online program. The last time I checked, it was the top online MBA program.
I am not sure if Duke offers a "regular" online MBA. It may offer an EMBA that has some online course offerings.
From: MissShona To: JinShil2
The name of UF's business school is "Warrington" btw. And in regards to questions like these, I am not following either the question OR the responses. When you say "market value", what exactly do you mean? An MBA is not a stock option. An MBA is part of a person's professional "package". There are those that I argue (and I tend to agree with them), that it is not the MBA program that breeds success, but the fact they they are so selective; they can choose MBA students who are creme-de-la-creme. They would probably fare pretty well regardless as to whether or not they had an MBA!
If the original poster wants to make a career change, great. But a career change from what to what and WITH what? If you want a corner office in a Fortune 500 company, or a 6-figure investment banking job, then yes, the name brand, top-tier MBA will serve you well. But you will also pay a pretty penny for it. Do you simply want a promotion in your current field? Well if you have an employer reimbursement option, and you can earn the degree part-time and not sacrifice an income, then why not? The opportunity cost is very low, and the ROI is much more attractive (in that you don't have student loans to pay back).
But take my advice as simply advice...and not fact or anything of the like. I am more than subject to bias; I myself am an online MBA student at a low ranking (but AACSB accredited) program. My MBA is costing me 1/2 the price of a new car...and I work for the government where they don't care so much where you got the degree or what the degree is. You just need a degree in order to reach a certain level. In my case, I would be a fool to pay tons of money for an MBA degree, top-tier program or not!
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So, you just shelled out $100,000 in tuition for a top-tier MBA program, and by passing up two years of gainful employment you added another $150,000 to your bill. You were lucky enough to land a job—something not everyone can say—but it pays less than you expected. How long will it take to break even?
Geoff Gloeckler did the math and it's not pretty. On average, graduates of top full-time programs who had a job at graduation won't get out of the red until 2016. And that's if you're lucky. At Columbia and Harvard you won't be in the black for more than a decade, and at Chicago Booth, you're looking at 2024. Check out our ranking of more than 70 top programs to find out where your program stands.
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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Full-Time MBA Rankings & Profiles BusinessWeek's Top 30 U.S. programs and Top 10 international programs. Plus, scan in-depth profiles of more than 300 full-time programs around the world
The Best Undergraduate B-Schools Undergrad business programs are getting MBA-like respect, and competition to get into them is hotter than ever. Here's how the top schools stack up
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