Showing posts with label Steps to MBA. Show all posts
Showing posts with label Steps to MBA. Show all posts

Friday, February 16, 2007

Recommendation letters

Recommendation letters form an important part of the application process. However it is also a subject of much confusion and uncertainty. Here are a few of the issues that potential B-school applicants face and my take on them.


How many recommendation letters do I need?


Most colleges that I have applied to have asked for two recommendation letters. You could also send in a third recommendation letter if you feel that it will increase your chances of getting into a particular college. However, I have seen colleges discouraging people from sending in a third recommendation letter. One particular college explicitly mentioned that applicants will receive negative rankings for a third recommendation letter. so, the moral of the story is: Carefully read the application requirements of each college and make a judgement call.


Essentially, you need two recommendation letters for each college. Let us say you are applying for six colleges, you need twelve recommendation letters. That's a lot! Imagine asking someone to write six recommendation letter for you! what should you do? That takes us to the next question of this section:


Who should recommend me?


Ideally b-schools would like to hear from your immediate supervisors, colleges or managers that you have worked under. This is a problem for students with no work experience. Many students who apply to b-schools fresh from college try to get recommendation letters from their professors and Heads of the Departments. Most B-schools place little or no weightage on academic recommendations. This is mainly because b-schools believe that professors are in contact with many students and are unlikely to know you on a personal basis. In fact most b-schools are quite upfront and explicit about this. This also puts most working professionals in a fix because most working professionals would like their immediate supervisors/managers know about their b-school aspirations. Asking supervisors/managers to recommend them would expose applicants intentions.


There is a solution this fix, fortunately. B-schools are also quite open to recommendations from customers /clients. In fact, I believe that a client / customer testimonial carries more weightage than a supervisor / manager.


How does a recommendation letter look like?


Have a look at the sample recommendation letter below:




Are there any ways to improve / influence the recommendation letter?


Fortunately for us, there are specific ways to improve / influence the recommendation letter.


1) Give the recommender a copy of your application essays - this will help him / her in understanding how you are trying to project yourself and he / she can word the recommendation letters accordingly.


2) Give the recommender a copy of your resume highlighting your accomplishments in areas related to their purview. This has the same function as first one.


3) Let them know in advance that you will be asking them for recommendations and also let them know when you need the recommendation letters back.


4) Keep sending friendly reminders in case you haven't received the letters by the due date.


How do I send the recommendation letter?


Most B-schools require you to send the recommendation letters to be sent to them along with the other necessary transcripts. However, off late, a few b-schools have started asking people to fill in and submit recommendation letters online. This is a great benefit for those who are seperated from thier recommendors geographically.

Application check list

Hi all,
managing all the aspects of the application process can be very tricky. Please find below one the means to organize information in an organised manner. Please feel free to modify to better reflect your personal priority and style. This was adapted from the book "Game plan for getting into Business school" by Peterson's


School name:

Date information requested:

Date information received:

Deadlines:

a) Application:

b) Financial aid:

Under gradate transcripts requested:

Other transcripts requested (if applicable):

Under gradate transcripts received:

Letters of recommendation requested:

GMAT test date:

TOEFL test date:

Essay written:

Resume updated:

Reminder to recommenders:

Fill out application form:

Gather recommendations:

Date application form sent:

Thursday, February 8, 2007

How many applications do I need to submit?

This is a tough decision that most applicants face. If you apply to very few b-schools, you risk not getting accepted. This is a bad situation as you have to get started on the application process all over again in the next year. On the other hand, if you apply to too many B-schools, you end up spending a lot of time and money. Have a look at the application costs listed below:
  • 100$-200$ on the application.
  • 20$ or so for each additional score report for TOEFL and GMAT.
  • 20$ or higher for sending your transcripts.

Other than this, you also need to spend a lot of time preparing the essays, getting recommendations and filling in applications for each college.

The best way to go about this is by placing b-schools in three categories:

  1. Aspirational
  2. Reach and
  3. Safety

Aspirational colleges are colleges that you would die to get into but are quite tough. Reach colleges are colleges that will fit into your profile and desirable. The last item of the list, safety colleges are colleges which are not exactly the most desirable but are those where you can be certain of acceptance. I suggest that you have at least two colleges in each category. For example, see a list of colleges that I applied to:

  1. Aspirational - Chicago GSB & Babson College
  2. Reach-UC Berkeley, Ross (University of Michigan)
  3. Safety- William E.Simon (University of Chicago), McCombs (University of Texas)

I hope this was of some use to you.

Monday, February 5, 2007

Part time or Full time

Hi all,
Here is a link to a interesting businessweek article on whether to go for part time program or a full time MBA program.
http://www.businessweek.com/bschools/content/feb2007/bs20070204_929908.htm?link_position=link1

Saturday, February 3, 2007

Two year MBA or one year MBA?


In two year MBA, you get to learn stuff in a relatively relaxed phase (relatively, mind you!, it is intensive by its own right) you get a break of one month in December, three months in summer and one more month in December of the second year of the MBA program. In one year program,these five month breaks are done away with and you have a pretty intensive program with little or no breaks. Then again, there is little or no difference in Fee structure for a two year program or a one year program in the same college. The choice for a one year program or two year program really depends on the person - how long you can sustain yourself away from the work force, family commitments and stuff like that.

I preferred a two year program mainly due to two reasons: Networking and time for business development. Let me elaborate on that. In a typical B-school, you have an incoming class of 150 or more people. Getting to know them all on a personal basis is difficult on a one year program. These networks will be extremely critical and helpful to you when you are trying to advance your career or trying to make a break in the business. A two year program gives you sufficient time to develop your networking skills.

Again, I am from a family business background. I really like the time I get off from the two year program to develop business plans and go through various iterations of the same. This will help me when come back to India to have a firm footing. One other aspect is that though you get time off in the two year program, you could apply for internships which will help you offset the cost of the program.

From the point of view of recruiters, they tend to be a little biased towards two year MBA programs. However, I do not have factual data regarding the same. Business week magazine is usually a good source for questions like this.

By the way, take my advice with a pinch of salt because I tend to defend my choices. Decide for yourself what an ideal choice would be for you.

Application essay questions

Here is a collection of the most commonly asked essay questions and thier variants:

Academic background

  • What did you enjoy studying the most during university? Why?
  • What were your favorite activities outside the classroom? Why did you enjoy them?
  • What strengths did you develop or display most prominently in your academic work? In your extracurricular activities?
  • What were your greatest academic and /or non-academic achievements during university? Why are you particularly proud of them?
Professional background

  • What field are you currently working in? Why did you choose this path?
  • What issues do you work with?
  • Can you name those achievements at work of which you are most proud? Why are you proud of them?
  • What would your supervisor say are your greatest professional strengths and qualities? How have you shown them?
Academic goals

  • What question(s) do you hope to research and find answers to in your graduate program? Ph.D. applicants: What methods will you employ to research these questions/
  • When did you start asking yourself these questions?
Professional goals

  • What do you want to do in the few years following the completion of your graduate degree?
  • What do you want to do 10-20 years from now?
  • When did you realize this is what you wanted to do?
  • Do your goals fulfill a need in your field, organization/company, community, country, or in the world? How?
  • Why are you particularly qualified to fulfill this need? What unique contributions can you make to your field?
Your graduate program

  • How will this graduate program help you to obtain your goals?
  • Why is this stage in your career the best time to pursue your graduate degree?
  • What are your top choice schools? Why did you choose them?
  • Why should the school accept you? What is unique or special about your background, qualifications, and personality?
Personal background

  • Looking back over the course of your life, did you experience anything that changed your way of thinking in any significant way? What was the event? What were you like before, and what were you like after? How did you change?
  • What are your greatest personal strengths? How have you demonstrated these strengths?
  • Have you experienced any obstacles in life or difficulties? How did you overcome them? What lessons and/ or qualities did you develop as a result of the experience(s)?

MBA application interview questions

Here are some of the most commonly asked MBA application interview questions:

  • The following are some of the most common interview questions asked in an MBA application interview:
  • Discuss your career progression.
  • Give examples of how you have demonstrated leadership inside and outside the work environment.
  • What do you want to do (in regard to business function, industry, location)?
  • Why the MBA? Why now?
  • Describe an ethical dilemma faced at work?
  • Describe your career aspirations?
  • What would you do if not accepted?
  • What are your long- and short-term goals? Why?
  • Why are you applying to business school?
  • Why does this school appeal to you?
  • What is an activity you are involved in? Why is it important to you?
  • Talk about experiences you have had at work.
  • Why are you interested in a general MBA program?
  • Why did you choose your undergraduate major?
  • Discuss yourself.
  • What contributions would you make to a group?
  • Name three words or phrases to describe yourself to others.
  • What is most frustrating at work?
  • How would co-workers describe you?
  • Describe a typical work day.
  • Have you worked in a team environment? What were your contributions to the effort?
  • Discuss any experience you have had abroad.
  • How did you choose your job after college?
  • What do you do to relieve stress?
  • It's two years after graduation, what three words would your team members use to describe you?
  • Describe a situation where you brought an idea forward, and it failed.
  • How do you define success?
  • What would you do if a team member wasn't pulling his own weight?
  • Is there anything you would like to ask me/us?

Confused? overwhelmed? Well, I felt the same when I looked at this list for the first time. There is a subtle trick to the MBA application interview. You see, though most colleges ask questions from this pool, in most colleges some questions occur in higher frequency compared to others. Going through interview experiences in websites like accepted.com can help you prepare for application interview from each college.

Rough road map for MBA in US

Step 1: Register for GMAT by visiting GMAC website. Request for Free Power prep software.

Step 2: Take GMAT and find out approximate score range.

Step 3: Research colleges using business week website and US news and find out colleges which fall in your score range. GMAT and GPA.

Step 4: Visit the college websites and find out more about the college.

Step 5: Shortlist about six colleges to apply.

Step 6: Prepare for the GMAT.

Step 7: Take the GMAT.

Step 8: Take TOEFL.

Step 9: Visit the short listed college website and start filling in the application forms

Step 10: Complete all online applications

Step 11: Get recommendation letters.

Step 12: Send the transcripts by courier.

Step 13: Wait for the interview calls.

Step 14: Prepare for the interviews.

Step 15: Wait for the results.

Step 16: Send decision to college.

Step 17: Send request for I 20 forms

Step 18: Receive I20 forms from college

Step 19: Apply for Visa interview

Step 20: Prepare visa documents

Step 21: Appear for Visa interview

Step 22: Pay security deposit to college

Step 23: Travel plans



Acing GMAT

While taking GMAT, you have to be aware that higher the final score, better are your prospects of getting to the Ivy league B-schools like Harvard, Stanford, University of Michigan, University of Chicago, Kellogs school of business and North Weastern university. If you have a GMAT Score in the range of 700+ you can also get good aid. Sometimes you can also qualify for a full tuition waiver.

GMAT is a computer adaptive test. It adapts to the level of the user. In the begining, the computer throws you a easy question. If you answer it correctly, it will give you a question of moderate difficulty and so on. The important thing is to answer the initial few questions accurately. It is estimated that five correct responces in the begining of the test will improve your score to a level that even if you slip behind at the later part of the test, it has little or no impact on your final score.

The test is like this: you have two essays at the begining of the test. One is an analysis of an argument and other is analysis of an issue. Each is of half an hour duration.

The third section deals with verbal ability. You have reading comprehension and sentence correction exercises. Don't under estimate this section. This section is perhaps the toughest of the test.

The fourth section of the test deals with quantitative ability. 10 std math is sufficient to deal with this section. However, preperation is the key to crack this section. Oflate, I found this section has increased in the level of difficulty.

The best book to prepare for the GMAT is the "Official guide to the GMAT" by ETS. It is pretty pricey and bulky book but is an exellent practice material.

Kaplan's books are good for preperation. Be sure to buy the books with CD roms.

I am attaching a list of websites that you might find helpful.

For registering for the GMAT,

www.gmac.com

(Be sure to book for a date that is atleast four-six months away. You need the time for
preperation. The test will cost you 200$. Have a credit card with you while registering
for the test. Request for a GMAT Bulitten and powerprep software which will help you prepare. It is free!)

For taking a sample test for free:

http://www.princetonreview.com/

For advice of sentance correction, please look at:

http://www.sentancecorrection.com/

For general advice on GMAT, Refer to the foolowing forums:
http://gmatclub.com/ (Thanks for the user who pointed this out for me)
For general advice on B-school interviews and essays, you can refer to

accepted.com

For Business school rankings refer to:

http://www.businessweek.com/

MBA or CAT? (India specific post)

Taking GMAT Or CAT depends a lot on several factors like
1) What do you want to do after MBA- Work, start up a business etc.,
2) How much are you prepared to spend?
3) What kind of return on investment are you looking at?
4) How much time you like to spend for preparation?
5) Your personal commitments like when you want to get married?

Going abroad from an MBA is quite expensive proposition. GMAT exam itself cost you about 15,000 Rs to take and TOEFL another 6000 Rs. You have an option of selecting upto five colleges where you need to send your scores while taking GMAT. If you want to send to more colleges, you need to spend 1000 rs extra just for additional score reports for each college. On top of that, you have application fees for each college which amounts to 6000 rs per college and 800 rs to send courier. So you end up spending 7000 rs per college for application alone. so if you chose to apply to 10 colleges, you end up spending close to a lakh of rupees.
Getting a scholorship may not always be possible. Assistanship & part time job options are also practically ruled out as the MBA program is pretty intensive & will demand most of your time. Tution fees and living expenses amount to approximately 45-50 Lakhs (!!).Sorry if I scared you but this is the truth. MS in US & MBA in US are quite not comparable. But the brighter side of the thing is you land up in a job which can give you an Return of investment in three years. However, if you want to do MBA in US, you must atleast start preparing 1.5 years in advance to the start of your MBA program.