Wednesday, January 4, 2012

Choose Your Own Adventure: Starting the Second Year of the MBA

The first year of the MBA was about coming together as a class community, learning through a common core set of courses, and building friendships through shared memories.

The second year of my MBA at London Business School has been about choosing your own adventure. For instance, I have classmates who are:

• Studying on exchange in Argentina, California, Shanghai and New York;
• Doing a second internship in London for Statoil or in Paris for L’Oreal;
• Starting up an e-commerce company in Iran, or an airline in Kazakhstan;
• Interviewing for full-time jobs; and
• Taking electives, like Managing the Growing Business, Negotiations, or Private Equity/Venture Capital.

As for me, I’ve dedicated most of my time to classes and helping run three student organizations:

The CleanTech Challenge: The Challenge is a four-month long, 3 stage student competition to develop novel, feasible business plans that can significantly benefit the environment. I love that it brings people together: investors with future entrepreneurs, students with mentors, companies with talented recruits, and technical and engineering experts with business minds. It’s also a platform to test out ways to address the million-dollar (or billion-dollar!) question: how do you identify and develop lab technologies to solve real market needs? It’s also been rewarding to co-lead a team of 15 – all those organizational behavior courses come into good use! If you are interested in environmental technologies and want to talk further, just shoot me an email – happy to chat.
The LBS Volleyball Club: Helping run the volleyball club has given me a chance to apply what I’ve just learned at LBS. For instance, what is the right pricing structure, given students’ willingness to pay, the club’s need to cover court fees, and its desire to attract a stable team of players? We analyzed last year’s behaviors, and replaced the optional “membership fee” with a discounted membership card that allowed play for 10 sessions. We also cut the court time down from 2 hours to 1 hour, as the diminishing “marginal benefit” of that second hour did not meet our members’ flat “marginal cost” per hour of the court booking. So far, it’s been working as we have a solid and improving team of core players, and are within budget. And it’s been a ton of fun to play some volleyball!
The LBS Wine & Cheese Club: Almost everyone loves a good glass of wine. That universal appeal allows the LBS Wine & Cheese Club to bring people together from across LBS’s many programs. While the education about wines and the wine industry has been tremendous, it also amazing to watch the interaction between people: the recent grads in the Masters in Management, the mid-career professionals in the Executive MBA, MBAs and the experienced senior managers in the Sloan programme sitting together talking about wine -- and after a few glasses of it, everything else!

I’m just one example of how LBS students use their second year. But most of my classmates have also chosen activities which we really like, and which align with our career aspirations. After all, the MBA ideally allows you to build a career doing just that: things we enjoy doing.

All the best,
Liz
London Business School, MBA 2012
lizaab.mba2012@gmail.com

Narrowing Your Search

Whether you have already decided to pursue an MBA or are still deciding if it is right for you, choosing the right school is a life changing decision. Finding your dream school might seem like an unrealistic goal but I believe we can all find the perfect fit. By focusing on how the program offerings fit your career goals and how the people's interests complement your own, the choices will be quickly narrowed.

My research approach had three main steps. I scoured the internet for all the information I could find, I reached out to current student and alumni and finally I visited the campuses. The Internet has many valuable resources for your search for the perfect school. MBA rankings websites can be a great place to start since there is information on a large number of schools in one place. Business Week and Beyond Grey Pinstripes are two sites I used frequently. The latter is perhaps a little less well known but takes a social, ethical and environmental approach in ranking the programs. I created my own Excel spreadsheet with aggregated data from five ranking websites.

Visiting campus before applying may not be an option but most schools host coffee chats throughout the country. A coffee chat will give potential applicants a chance to meet current students or recent alums and ask any questions about the program. You can also contact current students through most schools websites.

In my experience there was truly no substitution for a campus visit. Most schools will allow you to sit in on a class and meet with students and professors. Each school has a different feel that really can’t be conveyed through a website or mailer. My campus visits played a large part in choosing the University of Texas, Austin. When I thought back about my visits to different schools, it was very easy to imagine myself going to class, studying and having a great experience at UT.
I recommend the following sites for initial research.

Please post a comment with any I have left out or with other tips.

Good luck in your search!

http://www.businessweek.com/bschools/rankings/
http://www.beyondgreypinstripes.org/rankings/index.cfm
http://www.mccombs.utexas.edu/MBA.aspx
http://www.forbes.com/lists/2011/95/best-business-schools-11_rank.html
http://www.economist.com/whichmba/full-time-mba-ranking

Marisa Kowalsky
Fellow 2012
Goizueta Business School at Emory

Tuesday, December 6, 2011

Tips for Campus Visits

I can’t believe it was just over a year ago that I was submitting my Round 1 applications! I am now busier than I ever imagined; studying for my 1st round of midterms, joining various student groups on campus and looking at summer internship opportunities (and of course finding time to have a little fun).

Last week I attended a “Booth Live” breakfast as a member of the Dean’s Student Admissions Committee (DSAC) and was able meet several prospective students. It was nice to be on this side of the application process, but I remember so clearly what I was going through at this time last year.

I wanted to take this opportunity to share a few key things I think you, as a prospective student, should think about if you are able to visit the schools you are applying to.

Take a tour. See what the lecture halls look like, the study rooms, dining options and any other facilities the school may offer. Also check out where the students live – be it on campus, in a neighborhood nearby, etc.

Sit in on a class lecture. This will give you a better understanding of the learning environment and how the students interact with each other and the Professor. Is it case-based? Lecture only? A mixture? Find out if this class structure is the norm for the school or what you can expect once you are on campus.

And finally, the most important thing, in my mind, is to talk to students about their backgrounds and career goals. Every school is diverse, so it is nice to see what similarities and differences there are amongst your possible future classmates. Be sure to get contact information from students you would like to stay in touch with. I always found that students were more than willing to answer my questions or give me more details on things I was interested in which was very helpful in my application and interview process.

I still remember the people I met when I visited campuses and have stayed in touch with many of them – including students at schools I did not end up attending. Business school is all about networking, and you never know who you will meet that may be a connection to a job you are looking for at some point.

Good luck in the application process and I look forward to meeting those of you who visit Chicago Booth!

Jaime Streem, Class of 2013
Forté Fellow & MBA Candidate
The University of Chicago Booth School of Business

Monday, December 5, 2011

Prep for the MBA Applications Process!

Everyone who has been through the MBA application process will suggest that you start early. Listen to them…and then start even earlier. Organizational Behavior professors stress that planning and execution times are inversely related. Negotiation experts inevitably emphasize preparation. Yet somehow, when faced with an application deadline, we all want to jump into action. Instead, I encourage you to leave yourself at least a week in which you only ask questions.

What do you do well?

This is not the familiar ‘strengths and weaknesses’ question from interviews, but a deeper consideration of what you contribute. Look back through your performance evaluations and see what themes stand out. Ask colleagues to participate in a 360-degree review. See what words or phrases your family and friends use to describe you. This question is meant to reveal what your resume often can’t: an ability to manage up, an unflappable manner in a tense meeting, presentation skills, or emotional intelligence. You add a layer to your application when it reveals your skills as well as your accomplishments.

What do you enjoy?

Hobbies and volunteer activities speak to how you would spend your time without being paid to do it. What role do you play on the team? What position do you hold in the organization? And what does that say about how you would fit into an MBA class or project team? Triathletes and marathoners might like the personal challenge. Linguists and knitters probably enjoy learning new skills. Amateur chefs, musicians, or dancers could be balancing an analytical mind with creative expression.

What do you want?
If this isn’t explicitly an essay prompt (usually phrased as “Why an MBA?”), it will undoubtedly be an interview question. This is your opportunity to be nebulous before you refine your thoughts for formal answers. Where do you see yourself in five years? What does it look and feel like? Now how does that fit with the values or core principles of the programs to which you are applying?

The answers to these questions and others will dictate which bullet points to include on your resume, what to highlight in your essays, and even how to approach potential recommenders. As you move through the process, the answers will be distilled into the core of your candidacy—your personal brand—and it will show through in every piece of the package you present to the committee.

Good luck!

Sara Kabot, Forte Fellow
Class of 2014
UC Berkeley Haas School of Business

Wednesday, November 30, 2011

Network, Network, Network...

I already hear a few of you cringing at the thought of this. A few weeks ago, I spoke on a panel discussing “The Art of Networking.” When attendees were asked to raise their hands if they thought they were good at networking, barely any hands came up.

There truly is no need to panic, sigh, cringe, whine, or have any other negative reaction to this “networking” word.

No matter where you are in your MBA process – discussing with prospective schools, meeting current students, attending MBA conferences, looking for internships or jobs, etc. here are a few tips that could make your next networking session seamless:

1) Think Dialogue! It is not about the details of the MBA Program or the Company; it is a conversation with you and the university representative/ company employee/ potential mentor. Details about MBA programs and companies can be found on the website. Genuinely be interested in what they have to say, their experiences, their passions and inspirations; and be ready to share the same about you.

2) Listen! Yes, this is how you keep the momentum in the conversation and it opens the door for a good come-back questions. Besides, when you follow-up with this contact, remembering and noting highlights of the conversation, will be a good way to remind this new contact about the discussion.

3) First Impressions! Don’t forget the strong handshake. Portray confidence and make eye contact. Make sure you are dressed for the part; it will be easier for the contact to envision you in the role you are pursuing.

4) Hit or Not! Not every contact/ person you meet will be a hit. Sometimes differences in personalities can make a conversation go great or stay flat. In such situations, be true to yourself and your personality; make sure you learn as much about the contact and have a few key questions in your arsenal that you can use to reinvigorate the awkward pauses that could arise.

5) Remember to Relax! This person wears their pants the same way you do. They could be your parent, sibling, friend or colleague. Remember to have a conversation, be yourself and maintain the momentum with good come-back questions.

Oyinade Ogunbekun, Forte Fellow
Class of 2012, Olin Business School, Washington University in St. Louis

Tuesday, November 29, 2011

How To “Ace” Your School Visit

By Lindsay Petrovic
Johnson School of Management at Cornell, Forte Fellow 2013 MBA Graduate


As Round 2 application deadlines are rapidly approaching, so are the prospects for school visits. It can be a stressful time, but visits are a fantastic way to get a feel for a school, meet current students, and gain valuable culture and fit information that a school website just can’t offer. While a visit is a great learning opportunity for you, it also is a great learning opportunity for the school. Keeping this is mind, being prepared and professional during a school visit can send a great message to the school, and can help you get the most out of the visit.

A few tips to get you started:

1. Wear professional attire. A suit is always appropriate, although business casual at some schools may be acceptable. I personally think, however, that you can never be overdressed!

2. Make appointments to meet current students through admissions related activities, such as class visits, but also try to connect with students that have similar backgrounds or career paths as you. The school website will most likely be able to connect you with these people, as will admissions. If you have a personal contact at the school, they can also help out as well. Additionally, try to meet as many students through both means as possible. The more people you can interact with, the better. Don’t let one person positively or negatively cloud your perception of the school.

3. Connect with admissions during a visit. You may be able to get some one-on-one time with a member of the admissions team, which is always valuable.

4. Come prepared with as many questions as you possibly can think of. No question is ever silly if the answer means something to you. Questions will not only help facilitate your interactions with people at the school, but also will help you get the most out of your visit. Additionally, there’s nothing worse than arriving back home from a visit with a pressing question unanswered.

5. Take a look at what the university has to offer outside of the business school, and take a tour of the campus. While you may ultimately align with the business school, the campus, classes, seminars, and resources the university has to offer may play significantly into which school you decide to attend.

6. Venture into the local area. Each city has its own flair or charm, and it’s important to understand that your location may, for you, play into your happiness at school.

Finally, be confident and smile! Both qualities will serve you well, wherever you may go.

Monday, November 28, 2011

Finding the School that's Right for You

By Marisa Kowalsky
2013 Forte Fellow at Goizueta Business School at Emory


Trying to decide what schools to apply to for your MBA is more difficult then it seems at first glance. After getting my GMAT score I looked at the ranking lists and picked out the schools that I could get into given my work experience, undergraduate GPA and GMAT score. I narrowed down the list to areas that I would be interested based on personal preference. This left me with six different options. I charged ahead, got my "recommenders" to commit and laid out all of the deadlines I needed to meet. About half way through the application process, I began questioning my decision about where to apply. Initially I had decided to go purely based on rankings, fit within the class profile and location, but as I delved deeper into the process it seemed that many of the schools offered similar products (Marketing Club, Global Learning, Experiential Initiatives, etc.) and they were all blending together.

This frustration combined with the sugar coated descriptions and testimonies that appeared in the official literature pushed me to look at each school option through a different lens. I asked myself a new set of questions. How would a class size of 400 versus a class size 180 effect me? Do rankings really matter if post-graduate average salaries and job offer rates were comparable? Are the people that this school attracts people that will be a great network when I am there and when I graduate? These new questions could not be answered by the glossy brochures that lay strewn across my dining room table, so I reached out to people who had already received their MBAs and those that worked in my industry of interest. This is what I learned, rankings matter to some companies, but the value brought by the graduates they have employed is what sells the school. A class size of 400 means you are one of 400 people vying for the attention of professors, administrators, and recruiters, so unless you are at the top of your class or are vocal and persistent it can be easy to get lost in the crowd. If you are at a school with alumni that are not involved with the institution the network is just people you have one thing in common with, not people that take interest in helping you succeed. Also, I learned that location really does matter. You're going to be there for at least two year and want to make sure you'll be happy. If that location also lends itself to more opportunities in your industry or function of choice, then you are setting yourself up for personal and professional success. Overall, I learned that each school is far more unique then they appear and understanding what will make you flourish should propel the questions you ask about possible MBA programs.