First Steps in Pursuing Your MBA

Greetings from Olin Business School at Wash U in St Louis! After ten days of orientation and our first full week of school, we are off to a busy, but fun-filled beginning to the school year.  Having just started classes, I can’t help but reflect the experiences which led me here.  I feel compelled to offer a few lessons that I learned along the business school application journey. I got a great deal of insight from reading blogs like these, so I hope you do too!

First, before making your decision to pursue an MBA, be honest with yourself about why this degree is important to you. There is no wrong reason (and the MBA is not for everyone), but it is crucial that you are clear on why you want an MBA and why this is the appropriate time for you.  You should start by identifying what your goals are after school (both short and long-term…your applications will ask you, so it’s a good idea to start thinking about it).  Understanding this will inherently guide you to which format is best for you, whether it be a full-time, part-time, or EMBA program and will probably also help to isolate geographically where would be best for you.  Using online tools (school websites, blogs, etc.) and talking with current students you may know will provide greater insight into which programs are a good fit for you.

Second, depending on your circumstances, I suggest discussing your options with your boss, your mentor, and potentially, some close co-workers. If you are hoping to return to the industry you currently work in, it is important to understand your options and talk to people who have had similar experiences who can help you realize how an MBA is important to achieving your goals. I spoke to people at my former company who had done full-time, part-time, or EMBA programs, as well as several people who had reached my career goals without an MBA. This gave me a clear picture on what value an MBA would add to my experience within this industry.

Finally, it is important that you are applying to schools that are the right fit for your goals. I did not attend any fairs or forums, and in retrospect, I definitely should have. I would urge you all to go to at least one to speak to admissions teams and current students to get a real feel for each school you are interested in.  In fact, the Olin Preview Weekend is coming up in October and I would highly recommend coming to visit!

Good Luck!
Leigh Hunt, Forté Fellow

MBA 2014, Olin Business School at Washington University

Defining Your MBA Priorities

For some of you, classes have already started. You’ve begun to feel the rigor of the MBA or perhaps become adjusted to drinking out of the fire hose. You’ve probably heard a few anecdotes on “Time Management” and how it will get you through the year.

Rightly so! Time management is going to be your best friend through the next few months. However, time management can only be fulfilling and productive when you have clear goals that define your MBA priorities. I don’t just mean your concentration, or where you plan to get your summer internship or full-time job, but what you want to get out of your MBA program.

Your MBA experience will be filled with various activities – classes, office hours, recruiting information sessions, networking opportunities, personal activities (i.e. family, friends, working out, sleep, etc.), running for a leadership or representative position, being involved with a club, getting to know classmates,… and the list continues.

When I started my MBA, I set up a few key goals that defined how I spent my time:
*Make sure I learned from every class, the goals isn’t just getting a high pass or A;
*Get to know my classmates and seek out professional mentors;
*Be in a position to drive change and make an impact on my business school, etc.

Once my goals were clear, they defined how I managed my time - Do I want to play tennis with a classmate, meet with a mentor for lunch, or study an extra hour of finance; should I run for the student representative position or settle for a leadership position in a club or both; do I attend the information session or go hear the CEO of another company speak? Neither of the options you face in business school will be unproductive, but having clear goals will help guide your choices amid the flurry of activities and ways you could spend your limited 24 hour days. Remember, priorities can change, so feel free to make adjustments in your goals throughout the next two years.

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

Having the Time of my Life at Olin Business School

Hooray for Spring Break! After an intense seven weeks of class at Washington University in St. Louis, I now have two weeks of relaxation before classes resume. Since I’ll be working during my break, let me tell you some highlights of the past couple months.

We have now broken out of the core, so we are free to select our electives and take any classes of our choosing. I had originally planned to stick with the finance platform, which outlines the best classes for a concentration in finance, but I realized about eight minutes before class started on the first day of the semester that I wanted to branch out from finance. So I quickly dropped two of my finance classes and signed up for a critical thinking and data-modeling course that runs for the entire semester. This is one of the greatest benefits of attending a smaller program like Washington University has – waitlists are short, and most students have no problem shifting between classes to make sure their schedule fits their goals. My last-minute decision has proven to be great! Although this class is very demanding and time-consuming, the knowledge I’m gaining is insurmountable. In a very short time, I have learned the ins and outs of sensitivity analyses, simulations, decision trees and other useful tools. In fact, I plan to implement a sensitivity analysis within the budget that I will create while working at my former employer over the break.

At Washington University, outside of classes, we know how to have a good time. On Thursday, March 3, we had our MBA spring formal. The theme was a masquerade, and most of us arrived in gowns, suits or tuxedos donning the most colorful masks we could find. The food was excellent, the drinks were aplenty and we danced the night away, enjoying the last social outing with the MBA Class of 2011, which will graduate in a couple months. Not only did several teachers take part in this merriment, but Dean Gupta also attended to share in our celebration!

There is no doubt about it; the curriculum at Washington University is challenging, but as a result, my professional acumen is growing. And while I am developing as a professional, I am having the best time of my life!

Kelly Bien, 2012 Forte Fellow
Olin Business School at Washington University in St. Louis

Semester-End Reflections

Can you believe it? Less than a week until finals, then case competition, finalizing plans for a student-alumni event and WINTER BREAK! Last time I wrote, I had just begun my first year as an MBA student at Washington University in St. Louis, and now I’m almost a quarter of the way through the program! I don’t have much to say about finals except it’s always nice to know I’m in good company. I do want to tell you about the case competition that I am thrilled to participate in, along with a new and exciting student-alumni endeavor I have started.

Wash U invites several companies from around the area to submit real problems they are experiencing and then selects a couple cases that we, in our assigned groups of four, review and present our recommendations. These cases form a type of capstone for our core studies, requiring us to pull our understanding of finance, accounting, marketing, operations, etc. In particular, though, we must rely on our critical thinking capabilities, which we have enhanced throughout the semester in our analysis of numerous cases. More and more employers are requiring their associates to enhance their critical thinking skills before promoting to managerial roles. At Wash U, we have the opportunity to show select local employers our abilities, and, in return, we have the opportunity to win various prizes plus the ultimate reward of implementing our recommendation if selected.

Once the chaos of finals and the case competition subsides, I must push forward on an event geared towards all MBA students and alumni. I noticed that Wash U alumni events are organized by faculty and quite formal in nature. I found an opportunity to create a small group of students to plan and organize informal social gatherings for students and alumni without all the networking expectations of the formal events. Networking is definitely a large piece of a successful career, but there should always be some fun mixed in there, too. Our first event is scheduled for late-January, and our small group has lots of planning to do before then!

As the semester draws to a close, I find myself yearning for a nice, relaxing break but simultaneously eager to participate in the case competition and to finalize the details of the alumni social event.

Kelly Bien
Forte Fellow Class of 2012
Olin Business School at Washington University in St. Louis

Telling your boss you are going back to school?

“Tact” is one of the most important weapons you will need in your “back to school” arsenal. You have finally convinced yourself that it is time to take a break from the corporate world to pursue an MBA; you have slowly accepted the reality of forgone wages and have even begun searching for a new apartment. But wait, when all is said and done, how do you break the news to your supervisor? I say, it depends. Different firms have different cultures – some firms have processes and contracts in place that provide the option for employees to take a leave of absence to pursue higher degrees, while many others don’t. Pursuing an MBA might also be a route for dissatisfied employees or career switchers, in which case your exit notice might not be received with fist pumps and celebrations.
Here are a few tips to guide you:
1)Who will be writing your recommendation? MBA applications have traditionally requested recommendations from current or former supervisors and colleagues, among other valid options. If your supervisor is writing your recommendation, it is only rational that he/she understands your future intentions and will keep tabs on your acceptance rate. If you trust your supervisor enough to involve him/her in the process, you should have no anxiety. Make sure you reassure your boss of your commitment to maintain the same standards of productivity till you leave. On the other hand, if you opt for either a former boss, college professor, highly secretive colleague or someone other than your boss to write your recommendation, depending on your impetus, it is only wise to hold off till the two week notice.
2)Relationship with your supervisor. Do you plan to return to the same company after graduation? If so, your exit strategy may impact your re-entry. Be careful to burn as less bridges as possible. Take the time now to make the right management and HR connections. Regardless of your future plan, remember that your supervisor/ colleagues become an essential part of your network.
3)Historical experience of former colleagues. Seek advice from former employees or friends who have left similar industries in pursuit of an MBA. They will most likely have a relatively accurate view of the best approach. Make sure your plan and timeline aligns with the company culture.
Coming from the consulting industry, analysts/ junior consultants are encouraged to pursue higher degrees. I involved my supervisor early in the process – taking the time to discuss my future aspirations, my MBA plan and the schools I was interested in attending. He was enthusiastic and agreed to write every recommendation I needed. Even though I started hearing from schools in March, I was not eager to make my final decision until I was certain. This bought me some time to hold-off on providing the final verdict to my supervisor. After which I was able to candidly discuss my exit strategy.
Whatever timeline you choose – Be tactful!
Oyinade Ogunbekun, Forte Fellow
Class of 2012, Olin Business School, Washington University in St. Louis