FINDING A JOB B-School Grads Snap Up Education Jobs MBAs are going where few MBAs have gone before. In public schools, business smarts and finance skills are suddenly in demand
MBA JOURNAL: B-SCHOOL UPDATE MBA Journal: A Busy Second Term at CEIBS "Spring in Shanghai is absolutely gorgeous. To my dismay, we may have to spend it running around between the client and the university"
ForumWatch: Do PhDs Need MBAs? Recently, Deena12, a participant in the Business Schools Forum posed the question: Do PhDs need MBAs to enhance their careers?
Clinton Tackles College Affordability I took part in a conference call yesterday with President Bill Clinton, who was promoting the upcoming meeting of the Clinton Global Initiative University, a program he founded in 2007 to encourage college students to become community leaders.
BEST BUSINESS SCHOOLS 2010 Business School, Explained Is business school on your horizion? If so, get answers to all your questions on admissions, careers, and B-school life from the experts
B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:
Getting into Business Schools — Undergrad GPA
From: MBAgrlCA To: All
Hi,
I completed my Undergrad at UCSC (2000-2004) and graduated with a BA in Business Management Economics. For what it's worth, I worked 20-25 hours per week while a full-time student. During my time of attendance, students could elect to take courses for Pass/NoPass or for a letter grade. I elected a letter grade for a majority of my courses however, upon review of my transcript, more courses than I had remembered were graded "P". My cumulative GPA was 3.32 - this is quite lower than I remembered. Several of my 'P' evaluations named me an "outstanding student" and I fear the P/NP grading has weighed down my GPA.
That said, I'm working to see if any of the courses can be converted to a letter grade. Note that the school changed its grading policy after my enrollment year so this might be an option. A couple of blemishes on my transcript include a C in both Computer Programming (yr1) and Math Methods for Economists (yr2). I got mostly A's and some Bs in the remaining courses (Micro and Macro Economics, Marketing, Accounting, Econometrics, Managerial Economics - honors recognition). I TA'd both Microeconomics and Marketing.
Since college I've worked my way up in my career and now hold a position of Global Marketing Manager for a major sporting goods company. I am pursing my MBA in an effort to increase my marketability and remain competitive. I hope to attend a Top 10/Top 15 school in 2012.
While I understand that one's Undergrad GPA is only a fraction of their application and that it can be offset by a high GMAT score (I am taking the GMAT at the end of July - gulp!), work experience, essay, etc., I was curious to hear your thoughts on the importance of GPA and if you had any success stories to share for encouragement... or reality.
Thank you in advance for your reply!
From: JinShil2 To: MBAgrlCA
By the time you apply to B-schools, you will be 8-10 years removed from undergrad.
The general rule of thumb is that the longer you have been out of undergrad, the less your Ugrad GPA matters. Conversely, your GMAT will matter more.
So, I don't think your Ugrad GPA would matter as much as you think. But it will still matter significantly.
There are two main ways to overcome a low ugrad GPA.
1)Higher GMAT 2)Take courses in business school subjects and do well (alternative transcript).
Getting into Business Schools — Invited For An Interview.
From: bcs03d To: All
I've been invited to interview at a full-time program, but I have a dilemma. I've been induced to stay on with my current employer for another year and will probably not accept an offer of admission if given this year. The deferral policy is stringent and limited to medical emergencies and the like, so that isn't an option. That being said, I would like to apply to the same school next year. How much of an effect would it have on my chances of admission next year if I was to accept the interview, get admitted and decline the offer? Would I be better off declining the interview invitation and explaining why? Thanks for any responses.
From: JinShil2 To: bcs03d
I would decline the interview.
What would happen if you interviewed and you were denied admissions? That can't help (but not hurt much either) your admissions chances for next year.
What would happen if you interviewed and were accepted and later need to decline enrollment? That can't help (but not hurt much either) your admissions chances for next year.
I believe it is a lose/lose proposition to interview.
The only benefit I can see of going for an interview is to get some B-school interviewing experience and visit the campus of a school you are obviously interested in attending.
From: bus_eng To: bcs03d
If I were you, I'd call the admission office to cancel your interview and withdraw your application. But, do tell them why you are doing it. This way they will have a "good impression" of you for next year when you apply again.
From: pruiz To: bus_eng
agreed. I would add a formal email to the phone call, so AdCom can remember you next year.
Getting into Business Schools — MIT Sloan/Engineering SDM Program
From: hiker123 To: All
Hey guys,
I am in the matriculating class of 2010 of the System Design and Management (SDM: http://sdm.mit.edu) program with MIT Sloan and the School of Engineering. I thought I'd put down a few words based on my first hand experience with the program.
MIT SDM is an integrative program that combines management with systems thinking/ product design and leadership. The balance of engineering foundation and managerial acumen is highly sought after in the industry, which is why this program is perfect for someone who wants to go from being the everyday engineer to being a strong technology leader.
My cohort is world class, as I mention in my blog: aratnam.wordpress.com and very international. Most have engineering backgrounds, but there are exceptions (such as the advisor to the prime minister of Kazakhstan, as well as the chief designer of a major product design company), and those exceptions often stand out and enrich the cohort even more by bringing in very different perspectives to the table.
Although the average experience level of the incoming class is more than 9 years, the program will consider people with less experience.
Since the class size is kept small (<60), the amount of personalized attention given throughout the year is significantly higher than what the average Sloan grad gets (including office space).
Notwithstanding the leadership emphasis of the program, I have to mention though, that you learn more hard skills than you would with regular MBA programs; and you have to write a thesis!
The big advantage to SDM is that there are various flexible options in which one can complete the program (including 13 month, 16 month, 24 month and partial distance). You have to often get projects done while working with your partners over tele or video conference- this is great because this is the way the real world works.
In case you're wondering, I did look at top business programs that had strong focus on high technology (the usual suspects- Sloan LGO, Kellogg MMM, Ross Tauber), but ultimately realized that with my product design and systems focus, SDM would match my goals better than any MBA program would.
To summarize, the SDM program combines most of the advantages of Sloan with the unparalleled advantages of MIT Engineering (you can do up to half of your coursework at HBS- thats' a minor detail!). For example, the systems project I'm currently doing for NASA under a professor who is on one of Obama's presidential commitees, will help set the policy for future human spaceflight. In parallel, I plan to take all the normal business courses- operations, finance, accounting, strategy, organization, leadership, entrpreneurship, economics,... This is my kind of business school :)
Thanks for tuning in! Please reply to this thread directly if you have any questions about the program, and good luck to y'all!
hiker123
From: hiker123 To: All
I agree with many of the comments in this thread- if you're interested in tech, no school in the world offers as many cool opportunities as MIT does (and I mean MIT, not necessarily MIT Sloan).
I personally was more interested in the managerial aspects of systems and product design. Besides, I related myself better to slightly more senior and mature people than the average 27-28 year old MBA. I did look at the top b-schools that were tech oriented, but what I ended up realizing was that I probably didn't need an 'MBA' after all.
Given my interests, the SDM program at MIT fit the bill perfectly due to its ultimate flexibility- I have access to most of the Sloan resources, get to do all the cool stuff like participate in VC competitions, and still squeeze out time to keep a full RA (which pays for 100% of tuition AND an awesome stipend that pays for all my expenses- try beating that, even with a free ride!). Heck- I'm even leading the Sloan team on one of the upcoming intramurals!
From: meteor To: hiker123
What do you mean "squeeze out time to keep a full RA"? you mean you can take a part-time study?
From: hiker123 To: meteor
36 credits per semester (and I'm listening in on 12 more this Spring), with the plan to finish in two years.
In the summers, you can choose to do internships off-site and take classes by distance (or commute to MIT, if the internship is in the Boston area, and if your employer is flexible about you taking a couple of half days off each week to come to MIT and take classes offered in the summer), or keep the RA on campus and take classes.
In the Fall and Spring, you can of course take classes at MIT or at HBS, assuming you want to bother with the 25 minute trek down the Charles :)
In case any of you have more questions about the System Design and Management program at MIT, I'd encourage you to post in this thread that I started a while ago- thanks!
From: meteor To: hiker123
it is really attractive
But the program doesn't offer loan for international students and I can't review the stats of class:(
From: hiker123 To: meteor
As I said, please post questions related to the system design and management program in the thread I refer to above.
The class has a strong international contingent (~50%?), and most people are very seasoned engineers or managers- so the quality of class discussions tends to be very high. Exit salaries tend to be on par or better than Sloan MBA (which is saying a lot, since most don't choose to go into consulting or finance, although they have the option- some do, however- the employment report will show both McKinsey and Deloitte in the list of companies that students chose to go into in the last 2-3 years) because of the amount of experience that people have.
From: meteor To: hiker123
Hello hiker123,
What about financing the program? It is a relative expensive program.
And what about its placement? I found only 30% graduate got their jobs with help of career service(MIT's rather than Sloan's career service)
Thanks
From: hiker123 To: meteor
Your numbers are completely off target- where did you find them? Last year 100% of the exiting class was placed within 3 months of graduation, and I believe the average graduate has around 2 offers or more at the time of reporting this data, notwithstanding the market situation.
The correct employment numbers are to be found in the employment report from the website. You can find the report here.
As far as recruiting goes, we all have our own wide networks in addition to the SDM network from our many years of experience (usually across multiple companies). In addition to this, MIT offers you unparalleled opportunities everyday to network, and as far as tech goes, the MIT name opens a lot of doors that would otherwise be closed. You're right in that the Sloan career development office is 'officially' closed to us, since they are required to place the 400+ Sloan MBAs before they help other programs- so far, this has not been a problem since there's typically less than 30 self-sponsored students actively looking for employment, and those people usually don't have trouble finding employment.
Sorry, I can't help you as far as financing goes. About half the people get funded through their companies and the other half find their own financing. MIT does not guarantee funds for international students if you are not part of the regular MBA program. Feel free to connect with the graduate office in case you need further information about financing. The program is no more expensive than the average top American business program.
From: meteor To: hiker123
Buddy, you misunderstand my question! What I mention the figure 30% doesn't mean placement rate(I know that is almost 100%), I mean the sub-rate- "17% MIT Careers Office"(I am sorry, in this year, the figure is 17% rather than 30%). I think the figure reflects that only 17% students find job through help of the career service of MIT; at the same time, "33% got job from their personal network". That is my concern. I don't know the reality is whether MIT doesn't care the program much and has weak career service OR the students from the program possess broad and powerful network(they are almost 35-y old and close connection with tech industry).
Yes, the program is not expensive. To be honest, its expense is even lower than some 1-y program like INSEAD. However, as an international student, without non-co-signer loan is a high barrier.......
By the way, where can I get information of class profile like who they are, their average GMAT/Toefl and other information?
Thanks
From: hiker123 To: meteor
Please contact the program office, or attend one of our information panels- there's one tomorrow evening: https://lgosdm.mit.edu/VCSS/servlet/SDMFrontEnd?VIEW=1&id=186
The people on the panel will be more than happy to answer any questions that you might have.
From: microke To: hiker123
Hi Hiker123,
As mentioned in one of the previous posts, is there any scholarships or grants for international students available? I think financing SDM course seems to be a tough ask and there are no much information available regarding financing the course.
As you have mentioned in other posts, is RA job available to all admitted candidates?
Is there a candidate profile evaluation possible before one can apply?
I am planning to apply in July 2010 for January 2011 intake.
From: hiker123 To: microke
SDM is a professional program, not unlike the MBA, but geared towards the business side of industry and complex systems engineering. The sky's the limit at MIT and given the flexibility of the SDM program, a bunch of us do end up getting appointments (on a per semester basis) occasionally. That said, it is unrealistic to rely on finding an RA/TA to fund your program.
Most of us in the program have lived and worked in the US for a number of years and have our own ways of finding finance. In particular, the SDM office will not set you up with any financial aid (other than a small $2500/yr grant) or hook you up with RA/TAs. You will have to figure the finance part out for yourself. If you are a permanent resident/citizen, I believe the MIT Financial Office will help you. As with any other program, internationals will have to do a bit more work to find attractive financing independently.
Importantly, there's also more work involved for internationals towards the end of the program in landing that perfect job here in the US. Companies, other than those which are truly large and established, usually prefer to hire people who are US citizens or those who have US permanent residency. This is especially true in today's economy since they these companies just don't want to incur the additional expense/hassle of sponsoring foreign nationals, particularly since there are many unemployed current MBAs (possibly more qualified than you are) who are already standing in line for the same jobs.
From: microke To: hiker123
Hiker123,
Thanks for your input on SDM funding. From your inputs, I understand that funding would be very difficult for International students aspiring for SDM. Also, with a huge loan and not getting a job in US, is going to add troubles.
Thanks for your time.
From: Jaisiram To: hiker123
Hello!
I see your information answering most questions I had. Also from what I read from the site too, I understood they treat the part time, full time & distance learning candidates the same way. But I wanted to check with you about how the self sponsoring distance learning international candidates are considered for employment opportunities?
Thanks, JaisriRAM
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As investments go, is college a good one? Most would argue that it is. Well more than half of all U.S. jobs already require some sort of postsecondary education, and the number is growing. More to the point, college is a ticket to a middle-class standard of living, the difference between economic stagnation and upward mobility. But with the cost of college rising sharply and real earnings of college graduates going nowhere, the value of a college degree—the return on a college investment—isn't what it once was.
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