CompetitiveEdge:A Guide to Business Programs 2013

By Peterson's

Peterson's CompetitiveEdge: A Guide to Graduate Business Programs 2013 is a user-friendly guide to hundreds of graduate business programs in the United States, Canada, and abroad. Readers will find easy-to-read narrative descriptions that focus on the essential information that defines each business school or program, with photos offering a look at the faces of students, faculty, and important campus locales. Quick Facts offer indispensible data on costs and financial aid information, application deadlines, valuable contact information, and more. Also includes enlightening articles on today's MBA degree, admissions and application advice, new business programs, and more.

• Language: English
• Publisher: Peterson's
• Release date: Apr 15, 2013
• ISBN: 9780768937381

Book preview

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CompetitiveEdge:

A Guide to Graduate

Business Programs

2013

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About Peterson’s Publishing

Peterson’s Publishing provides the accurate, dependable, high-quality education content and guidance you need to succeed. No matter where you are on your academic or professional path, you can rely on Peterson’s print and digital publications for the most up-to-date education exploration data, expert test-prep tools, and top-notch career success resources—everything you need to achieve your goals.

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Bernadette Webster, Managing Editor; Jill C. Schwartz, Editor; Ken Britschge, Research Project Manager; Amanda Ortiz, Amy L. Weber, Research Associates; Phyllis Johnson, Software Engineer; Ray Golaszewski, Publishing Operations Manager; Linda M. Williams, Composition Manager; Carrie Hansen, Christine Lucht, Bailey Williams, Client Fulfillment Team

NOTICE: Certain portions of or information contained in this book have been submitted and paid for by the educational institution identified, and such institutions take full responsibility for the accuracy, timeliness, completeness and functionality of such contents. Such portions or information include (i) each display ad that comprises a half page of information covering a single educational institution or program and (ii) each two-page description or Close-Up of a graduate school or program that appear in the different sections of this guide.

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For permission to use material from this text or product, complete the Permission Request Form at http://www.petersonspublishing.com/spa/permissions.aspx.

ISBN-13: 978-0-7689-3738-1

Second Edition

Contents

A Note from the Editors at Peterson’s Publishing

Advice from Admissions Directors

How Graduate School Can Engineer Entrepreneurial Success

How Business Schools Are Catering to Entrepreneurs

Finding the Right MBA Program

Exciting Times in the Accounting Profession

The MBA in Healthcare Management

Surviving the Application Process

To How Many Schools Should You Apply?

How Do Business Schools Pick Students?

The Elements of an Application

What Your Applications Should Show About You

Interviews

Deciding Which School Is Right for You

The Importance of Resumes

The Vital Role of Application Essays

How to Pay for Graduate School without Going Broke

Research and Find Your MBA Fellowship

Find Investors to Help You Pay

Pay Your Way with Your Foresight

Financial Support

Fellowships, Scholarships, and Grants

Assistantships and Internships

Health Insurance

The GI Bill

Federal Work-Study Program (FWS)

Loans

Applying for Need-Based Financial Aid

Summary

Returning to School

GRADUATE BUSINESS PROGRAMS

Accounting and Finance

Accounting

Finance and Banking

Investment Management

Taxation

Advertising and Public Relations

Business Administration and Management

Electronic Commerce

Entrepreneurship

Facilities and Entertainment Management

Entertainment Management

Facilities Management

Hospitality Management

Hospitality Management

Travel and Tourism

Human Resources

Human Resources Development

Human Resources Management

Industrial and Manufacturing Management

Insurance and Actuarial Science

Actuarial Science

Insurance

International Business

Management Information Systems

Management Strategy and Policy

Sustainability Management

Marketing

Marketing Research

Nonprofit Management

Organizational Studies

Organizational Behavior

Organizational Management

Project Management

Quality Management

Quantitative Analysis

Real Estate

Transportation Management, Logistics, and Supply Chain Management

Aviation Management

Logistics

Supply Chain Management

Transportation Management

APPENDIXES

GMAT Practice Test

Index of Displays and Close-Ups

A Note from the Editors at Peterson’s Publishing

Looking for that competitive edge to get into a graduate business program? You’ve found the perfect guide! This book offers you just what you need—application insight from admissions officials, tips from those in the know to help you determine the right business school, vital data on thousands of business programs in the United States and abroad, and a sample GMAT ® practice exam to help boost your test-prep efforts.

Because advanced study in business is so popular, the types of schools offering these courses of study run the gamut from small private colleges with business schools enrolling only a few hundred students to large state schools whose student bodies can number in the tens of thousands. These days, you can also join the increasing number of students who take distance learning courses from their own home or attend a virtual university, where opportunities for learning are shared online. If you’re already employed, perhaps your company is one of the growing numbers of firms that offer on-site business courses in cooperation with local colleges. The possibilities are limitless. Peterson’s CompetitiveEdge: A Guide to Graduate Business Programs is the perfect tool to help you narrow your choices and select the right program for you.

In the first part of the book, you’ll find valuable articles to help you gain that competitive edge. In Advice from Admissions Directors, you’ll find extraordinarily helpful tips from the admissions directors at Penn’s Wharton School, Penn State’s Smeal College of Business, GWU’s School of Business, Ohio State’s Fisher College of Business, and Cornell’s Samuel Curtis Johnson Graduate School of Management. Other articles include How Graduate School Can Engineer Entreprenurial Success, How Business Schools Are Catering to Entrepreneurs, Surviving the Application Process, The Importance of Resumes (includes a sample resume), The Vital Role of Application Essays (includes a sample MBA application essay), Financial Support, How to Pay for Graduate School without Going Broke, Returning to School, Finding the Right MBA Program, The MBA in Healthcare Management, and Exciting Times in the Accounting Profession."

Whether or not you know precisely what field of business you want to study, you’ll find a wealth of information in the second part of CompetitiveEdge. Each of the twenty-one sections of graduate business programs here begins with an overview—details on what the particular field entails, what courses may be required or available as electives, what the job outlook appears to be, a potential position in that field, and a list of some helpful organizations, publications, or blogs. Many of the sections also feature career insight from individuals whose graduate business degree led them to their current job. Each of the section profiles of graduate schools and programs are ideal for a quick reference of facts and figures.

The profiles provide essential information, including data on institution names, administrative units, degrees and fields of study, accreditation, jointly offered degrees, part-time and evening/weekend programs, postbaccalaureate distance learning degrees, faculty, students enrolled, degrees awarded, degree and entrance requirements, application deadlines, expenses and financial support, faculty research, and unit head and application contact info. Some schools even feature a display ad near the profile listing that highlights interesting aspects of their program.

The profile information published in this guide is collected through Peterson’s Annual Survey of Graduate and Professional Institutions. While every effort has been made to ensure the accuracy and completeness of the data, information is sometimes unavailable or changes occur after publication deadlines. All usable information received in time has been included. Institutions that did not complete and submit the 2012 survey were not included in this guide. The omission of any particular item from a profile signifies either that the item is not applicable to the institution or program or that information was not available.

To be included in this guide, an institution must have full accreditation or be a candidate for accreditation (preaccreditation) status by an institutional or specialized accrediting body recognized by the U.S. Department of Education or the Council for Higher Education Accreditation (CHEA). Program registration by the New York State Board of Regents is considered to be the equivalent of institutional accreditation, since the board requires that all programs offered by an institution meet its standards before recognition is granted. A Canadian institution must be chartered and authorized to grant degrees by the provincial government, affiliated with a chartered institution, or accredited by a recognized U.S. accrediting body. This guide also includes institutions outside the United States that are accredited by these U.S. accrediting bodies. A full explanation of the accrediting process and complete information on recognized institutional (regional and national) and specialized accrediting bodies can be found online at www.chea.org or at www.ed.gov/admins/finaid/accred/index.html.

Following the profiles, certain sections contain in-depth write-ups (Close-ups) about certain graduate business schools or programs that chose to provide this additional information to help you gain a competitive edge. These Close-ups are more expansive and flexible than the profiles, and the administrators who have written them emphasize different aspects of their programs. In each Close-up, you will find information on programs of study, research facilities, faculty information, tuition and fees, financial aid, and application procedures. If an institution or program has submitted an in-depth article, a boldface cross-reference appears below its profile.

Toward the back of CompetitiveEdge in the Appendix, you’ll find a sample GMAT test, with an answer key and explanations, from Peterson’s Master the GMAT 2013. There are dozens of review questions including questions for the new Integrative Reasoning Section. We hope the sample GMAT test will give you the additional practice you need to help you score high on the actual exam—an extra competitive edge!

Peterson’s publishes a full line of resources with information you need to guide you through the graduate admissions process. Peterson’s publications can be found at college libraries and career centers, your local bookstore or library, or at www.petersonsbooks.com. Peterson’s books are also available as eBooks. For more information, visit us online at www.petersonspublishing.com or find us on Facebook® at www.facebook.com/petersonspublishing.

We welcome any comments or suggestions you may have about this publication. Your feedback will help us to make education dreams possible for you—and others like you. The editors at Peterson’s Publishing wish you the best of luck in your search for the right graduate business program for you!

NOTICE: Certain portions of or information contained in this book have been submitted and paid for by the educational institution identified, and such institutions take full responsibility for the accuracy, timeliness, completeness and functionality of such contents. Such portions or information include (i) each display ad that comprises a half page of information covering a single educational institution or program and (ii) each two-page description or Close-Up of a graduate school or program that appear in the different sections of this guide.

Advice from Admissions Directors

In this article, admissions directors from The Wharton School at the University of Pennsylvania, the Smeal College of Business at Penn State University, The George Washington University School of Business, Fisher College of Business at The Ohio State University, and Samuel Curtis Johnson Graduate School of Management at Cornell University give you their perspectives on the value of an advanced degree in business. Their insight on what you should look for when choosing a business program and what admissions directors look for when reviewing business school applications will give you a competitive edge.

When is the right time for prospective students to start thinking about business school? Upon graduating from college? After a few years in the job market? Why?

There is no right time to start thinking about business school. Rather, the decision to go to business school is a personal one and will be different for everyone. Some candidates, while they are still in their undergrad studies, already know that they may plan to attend an MBA program. Others spend a few, or even more, years in a career first, gaining a better understanding of themselves and what they can gain out of business school. Business schools are aware of this, and, as such, tailor their recruiting programs to accommodate the varied timelines of all applicants. At whatever point they are at in their lives, once individuals have made that decision, our admissions officers are more than happy to help them with the next steps in the process.

What is the value of an advanced degree in business—in today’s society and in the future?

The most fundamental thing about an MBA is that it is a degree for the long term. Many MBAs find themselves using different skills from their MBA at different points in their career. In other words, you may use your MBA to gain the basic skill set and network to make a career switch immediately upon graduation but then later use different skills when you are managing more people or making strategic decisions.

What makes an MBA so valuable is that it is so multi-purpose; it is a degree designed to help people lead people and organizations in a variety of industries and functions. In many ways, it is a form of insurance—it equips you with a skill set and network that can be used in many industries.

Certainly, though, we are at a unique time in business, in which we are experiencing much change, innovation, and instability. Given the events of the recent years in the business world, there is much to learn from professors and other students (many of whom have first-hand experience with the financial crises, the downturn in the real estate market, and other events that have shaped today’s economy) to better understand what will be required of successful and ethical business leaders in the future. Armed with this knowledge, students emerge from business school with a degree that will continue to benefit them for years to come.

What are the most important factors that a prospective student should consider when researching business programs?

There are many factors that prospective students must take into consideration before selecting a business program. First, it’s important to take stock of your motivations for attending business school: Is it the desire to build a foundation of business knowledge? Is it to grow a professional network? Or is the degree simply essential for the next step in your career path?

As an applicant, you should also have an understanding of what your professional goals are, and you should, of course, seek programs that best support those goals. But you should also consider programs that offer opportunities and resources to explore other options—many, many MBA students end up changing their career focus upon arriving at business school and realizing the wealth of opportunities available to them. Other factors including structure of the program, location, and cost are essential as well, and you should carefully consider these aspects when choosing a school. If possible, visit campuses and talk to current students, administrators, and faculty members to get a sense of a program’s culture before making a decision on whether it would be a good fit for you.

How heavily does your program weigh the following five admissions criteria: undergraduate grades, GMAT scores, work experience, letters of recommendation, and essays? Why do you place the emphasis where you do?

Wharton’s admissions evaluation process is a holistic one. There is no ‘weight’ given to any one piece of the application; rather, it is important that all the sections balance each other out and portray your strengths to the best of your abilities. Needless to say, Wharton cares about each piece of the application it requests from you, so be sure to deliver the best you can. Each of the elements of the application is taken into serious consideration, and each plays an important role in portraying a well-rounded candidate.

How many essays does your program require the student to write? What kinds of questions do you ask? In your opinion, what is the difference between a good essay and a bad one? What do you look for when you read admissions essays?

Wharton requires candidates to write three essays, with an optional section to explain extenuating circumstances (only if necessary—most candidates are admitted without providing an optional fourth essay). The Admissions Committee is interested in getting to know candidates on both a professional and personal level. We encourage applicants to be introspective, candid, succinct, and most importantly, honest. Essays should be used to elaborate your candidacy, while answering the specific questions at hand.

What kind of work experience do you look for? Does it necessarily have to be in a business field?

One of the most rewarding aspects of business school is that students meet other students from myriad different professional backgrounds. As a result, Wharton seeks diversity in the professional backgrounds of its admitted students just as it does in all other parts of our applicants’ profiles. No one industry is preferred more than another, and experience in a Fortune 500 company does not have higher value than experience in a start-up or in a public institution. While the median number of years of experience prior to enrollment is four years, there is certainly a range around that number. Wharton is more concerned with the depth and breadth of an individual’s position, his or her contributions to the work environment, and the level of responsibility and progression rather than simply the number of years worked. To that end, Wharton is also interested in early career candidates, those with three or fewer years of full-time professional experience who exhibit strong managerial and professional potential.

What advice would you give students about whom to ask to write letters of recommendation?

Letters of recommendation are an effective way for applicants to give Wharton further insight into their professional accomplishment and leadership. You should choose people who can speak directly about your aptitude for, or accomplishments in, leadership and management. Thus, work-related recommendations are more valuable than academic ones. You should select two people who really know you and your work, who you believe can best address the questions asked.

An effective recommender will do more than check the right boxes and write a couple of sentences; he or she will include an example or two that illustrates his or her points. For many candidates, briefing your recommenders beforehand ensures their memory is refreshed as to your accomplishments, and that they are fully aware of your motivations for applying to business school. Applicants working in family businesses, entrepreneurial environments, or other nontraditional environments will need to be more creative in terms of choosing recommenders (and perhaps use the optional essay to allow us to understand how they made their choices). These applicants may wish to consider clients, mentors, or others they have worked with in the community.

Many applicants wonder if they should seek out Wharton alumni to write recommendations. Our strong recommendation is to seek two people who are best-suited to give a thorough, thoughtful recommendation. Of course, if a Wharton graduate happens to be one of those two people, he or she may be able to use his or her understanding of Wharton to describe how you will fit into the Wharton culture. However, you should avoid seeking alumni who aren’t truly qualified to write about you.

When you look at transcripts, do undergraduate business majors have an advantage over those with majors in other fields? If someone’s major wasn’t in a business or related field (economics, for example), what would your advice be?

Over two thirds of Wharton students did not major in business as an undergrad. There are, in fact, many students who majored in the humanities and social sciences. Much like Wharton seeks diversity in the professional backgrounds of its students, so the same can be said of their academic backgrounds.

That being said, Wharton wants to make sure its students are academically prepared for the rigors of its business curriculum. When evaluating your transcripts of undergraduate work, Wharton is not simply considering your GPA; rather we are trying to put together a story of what you were like as a student and how you may fare in, and contribute to, our program.

If you have no business classes or quantitative classes in your undergraduate background, it may be advisable to pursue some basic business classes through continuing education. Classes such as calculus and/or statistics can provide an excellent grounding in business education and can help you understand the sort of curriculum you will be experiencing in business school, as well as show the Admissions Committee your aptitude for such study.

How important is timing in the admissions process? In other words, do students who apply early have an advantage over those who just meet the deadlines?

As applicants come from all walks of life and hence decide to apply to business school at different times, Wharton offers three rounds of admission each year. However, we strongly encourage applicants serious about coming to business school in a given year to apply in one of the first two rounds of the application cycle. Applying earlier can have an added benefit for you, as receiving an earlier decision from Wharton may give you more clarity on the business school application process. In addition, if you are placed on the waitlist in an earlier round, you will have the opportunity to be considered for admission, again, in a subsequent round.

That said, a student should apply when he/she feels most confident and ready. Wharton is interested in the best applicants, not the

earliest ones, and you are best served by taking the time to present the strongest application possible.

What words of wisdom do you have for students who are considering applying to business school?

Applying to business school is an introspective process, and it should not be rushed. You should carefully choose the schools that best fit you, and you should take the time to carefully put together an application that best represents your strengths as a potential student. It’s also important to stay focused on your application; don’t spend your energy worrying about other candidates’ applications. Spend your time and energy putting together the application that best reflects the real you.

When is the right time for prospective students to start thinking about business school? Upon graduating from college? After a few years in the job market? Why?

Most business schools prefer, if not require, applicants who have work experience. While it is never too early to start considering a career path and exploring advanced degree options, most people begin an in-depth search about eighteen months before they want to matriculate. However, timelines for pursuing business school certainly vary by individual situation. Looking ahead about a year and a half gives applicants time to visit programs in person, connect with faculty members, current students, and alumni as well as time to give the application the attention it warrants to be competitive in the MBA applicant pool. Planning a year or more ahead gives flexibility if the applicant intends to apply in the first round and wants to be considered for a full spectrum of financial aid opportunities, and it leaves room for error if he or she needs to take the GMAT more than once. It’s important that applicants know all of the deadlines and requirements for each program they are applying to as programs will vary.

What is the value of an advanced degree in business—in today’s society and in the future?

For many MBA students, an advanced degree is linked to opportunity and earning power. Many higher level and C-level positions will require an advanced degree. An MBA can be a bargaining chip in employment negotiations and will help an applicant differentiate him or herself from an often crowded and competitive pool of job seekers. While an advanced degree certainly won’t guarantee anyone a job in any field, it will often give them a leg up and open up the most doors.

What are the most important factors that a prospective student should consider when researching business programs?

The single most important factor boils down to what we call fit. In essence, is the program right for you? Candidates must ask themselves a series of questions including: What is my end career goal? Does the curriculum of the program match my academic needs? Does the program attract recruiters and place people in the field I want to pursue? Can I afford this school, and is aid available? What is the community like, and do I share the same values? What is daily life like, and will I like spending the next two years in this program? What is the best option for my spouse/partner/family? An MBA is a huge investment of resources. It’s key that an applicant knows what he or she wants and the kind of environment in which he or she will be most successful.

How heavily does your program weigh the following five admissions criteria?

1. Undergraduate grades—Very important

2. GMAT scores—Very important

3. Work experience—Very important

4. Letters of recommendation—Very important

5. Essays—Very important

Why do you place the emphasis where you do?

At Smeal we have no formula or weighting system for application criteria. First, however, we need to ensure the candidate is academically prepared to succeed in a quantitatively rigorous program. While the GPA and GMAT scores are not the only factors used to make a decision, we need to see evidence that a candidate can handle the course work and ultimately graduate from the program. Work experience is also a significant factor. What can an applicant bring to the classroom, his/her team, and his/her own MBA experience?

We look for applicants who have a strong sense of where they have been and where they are going. Not only is this reflected in the resume/work experience, but applicants are also given a chance to go into detail about their personal career path and goals in their essays. It’s essential that the applicant’s story ties together and makes sense. In addition, essays give important insight into an applicant’s written communication skills and professionalism. They can also give us a look at things we might not see in other parts of the application (volunteer work, cultural background, unique experiences, and so on). Ultimately, we factor all of the application parts together to determine if the student will be a good fit for our program and if our program will be a good fit for the student.

How many essays does your program require the student to write? What kinds of questions do you ask? In your opinion, what is the difference between a good essay and a bad one? What do you look for when you read admissions essays?

For the 2012 admissions cycle, we required two essays. Our essays focus on career path and future goals as well as community fit and personal values. Good essays answer the question, follow the directions, are clear and concisely written, and give us insight into who the candidate is and why he or she should be admitted. Bad essays often are not proofread, lack direction and clarity, are off topic, and can sometimes cover inappropriate topics or demonstrate lack of professionalism. We look for candidates who have a strong sense of what they want to do and how Smeal can help them achieve their career goals. Again, this goes back to fit. Do they share our program’s values, and will they be successful here? The essays are also used to assess written communication ability and, in the case of international students, to evaluate command of the English language.

What kind of work experience do you look for? Does it necessarily have to be in a business field?

The field of work experience isn’t necessarily a factor. In many cases, MBA seekers are also career changers, so work experience to date might not be a good reflection of future goals. We do want to ensure a candidate has a career path that makes sense, promotions and/or a progressive addition of responsibilities, evidence of leadership roles, positions that have required teamwork and critical thinking, and an overall career story that fits together with the resume. Flags can be raised because of things like job jumping, backwards career moves (demotions or excessive lateral position changes), and lack of any career progression over a long period of time.

What advice would you give students about whom to ask to write letters of recommendation?

As we can already see academic records (GPA and transcripts), it is highly preferred if at least one of the two letters of recommendation is acquired from a professional source, including a current supervisor. If there is no letter from a current supervisor, it should be noted why that is the case in the additional information section. In the case of applicants who do not have a supervisor, such as those working as independent contractors or those who are business owners, a client or co-worker recommendation may be acceptable. In general, the admissions committee wants to know what it is like to work with the applicant. If in doubt, you can always ask the program what is preferred.

When you look at transcripts, do undergraduate business majors have an advantage over those with majors in other fields? If someone’s major wasn’t in a business or related field, what would your advice be?

At Smeal, we are more concerned about how the applicants performed during their undergraduate career and if they are academically capable of the rigors of an MBA program. Only about one third of our incoming class has an undergraduate degree in business. We are looking for people who have work experience in different functions, industries, and positions, and we want to ensure a class that is diverse in multiple ways. For those who do not have a strong quantitative background, we recommend taking a refresher math course, like MBA Math, during the summer prior to starting classes. Our orientation at Smeal also includes a mandatory pre-term accounting course, so all incoming students are up to speed on what will be expected in the classroom whether they’ve had business classes during their undergraduate study or not.

How important is timing in the admissions process? In other words, do students who apply early have an advantage over those who just meet the deadlines?

Many MBA programs, including Smeal’s, have rolling admissions. This means we evaluate applications and make admissions decisions as we receive materials (versus waiting until a specific date to start). While still competitive, applicants may find they gain a bit of an edge by applying early in the cycle while there are still many seats in the class available. Applying early, while important, should NOT be done at the expense of submitting a subpar application. If your application is ready for the first round and you feel it is your best effort, apply. If not, it might be in the best interest of the candidate to wait until deadline two if he or she can significantly improve the quality of their application during the time between deadlines.

What words of wisdom do you have for students who are considering applying to business school?

Visit. While we realize this is often costly and time consuming, nothing can replace seeing a business school and meeting the students who attend the program in person. The Internet has allowed us the means to connect with people around the globe, but there is no substitute for physically setting foot on campus and seeing firsthand a school at which you will invest the next two years of your life. The MBA degree is a substantial investment in an applicant’s future, so spending the extra time and money to make sure you are getting exactly what you need and want will be worth it in the long run.

When is the right time for prospective students to start thinking about business school? Upon graduating from college? After a few years in the job market? Why?

It is never too early for students to begin thinking about attending business school, but competitive applicants tend to have a few years in the job market. This is because many business schools are looking for students who can participate in the classroom and bring their first-person experience to the table.

What is the value of an advanced degree in business—in today’s society and in the future?

An advanced degree in business holds so many possibilities in today’s society and beyond. The basic skills of leadership and the management of both financial and human resources are more relevant today across industries and sectors than ever before.

What are the most important factors that a prospective student should consider when researching business programs?

The most important factor to consider is the fit for a program. Can you see yourself in this program and will it help you to achieve your personal, academic, and professional goals? This could encompass a variety of factors from student experience, location, cost, full-time vs. part-time, academic focus of the school, and many more.

How heavily does your program weigh the following five admissions criteria: undergraduate grades, GMAT scores, work experience, letters of recommendation, and essays? Why do you place the emphasis where you do?

Our application process is holistic as we search for candidates who will be happy and successful in our programs. Each piece of the

application tells us something about the applicant. The GMAT score and the undergraduate grades can serve as indicators of how a student will perform academically. The work experience of an applicant can provide insight into future classroom participation and student leadership, as well as the employability of an applicant after graduation. The essays and letters of recommendation allow for a qualitative view of an applicant.

How many essays does your program require the student to write? What kinds of questions do you ask? In your opinion, what is the difference between a good essay and a bad one? What do you look for when you read admissions essays?

We ask for two essays about the student’s professional goals and a personal life experience. In these essays we are looking for someone with clear and well-thought-out goals who can articulate why an MBA from our university will help him or her succeed in these goals. A good essay will be clear and concise, whereas a bad essay will lack focus. P roofread your essays, and ask someone else to read them for you. They should be able to tell you what the essay prompt was just by reading your essay.

What kind of work experience do you look for? Does it necessarily have to be in a business field?

We are looking for professional experience where the applicant has taken some sort of leadership role and has experienced working in teams. This experience is not necessarily always in a traditional business field.

What advice would you give students about whom to ask to write letters of recommendation?

We recommend that students ask their current supervisor for a letter of recommendation. For the second letter, we encourage students to be willing to think outside the box and consider letters of recommendation from places they are involved in their communities.

When you look at transcripts, do undergraduate business majors have an advantage over those with majors in other fields? If someone’s major wasn’t in a business or related field, what would your advice be?

No, business majors do not have a distinct advantage over other majors. We believe that a variety of undergraduate education backgrounds bring different perspectives and viewpoints that we value in our classrooms.

How important is timing in the admissions process? In other words, do students who apply early have an advantage over those who just meet the deadlines?

It never hurts to apply early for a program, provided that your application is as strong as it can be at that time.

What words of wisdom do you have for students who are considering applying to business school?

Be honest with yourself about what you are looking for and why you are seeing it. Visit schools and interact with the faculty, students, and staff to determine if the school is the right fit for you personally and professionally.

When is the right time for prospective students to start thinking about business school? Why?

Ideally, prospective students should consider going to business school once they have decided how it will help them achieve their personal and professional goals. Generally, this happens once they have had a few years of postbaccalaureate work experience. Students who have had the chance to work on teams, manage people or projects, and develop some technical expertise or proficiency in a particular area find that they are more prepared to benefit from the business school education. These students can more clearly articulate their goals, identify their strengths and weaknesses, and focus on the potential career paths they would like to follow upon graduation.

What is the value of an advanced degree in business—in today’s society and in the future?

If you aspire to attain a leadership role in an organization, an advanced degree in business is going to help you get there. It will help you maintain a competitive edge against other candidates, and it will demonstrate to potential employers that you have the skill set and knowledge that is required to do the job. The MBA will provide you with the solid foundation that you need in each of the core business functions so that you can add value to your organization and be an active contributor in conversations with individuals at all levels about any aspect of the business. It will give you credibility and empower you to make strategic decisions that can move an organization forward. These are valuable skills in today’s struggling economy and will continue to be important in the future.

What are the most important factors that a prospective student should consider when researching business programs?

The factors that you should consider when researching programs are really personal. Consider your priorities and evaluate how closely the programs you are choosing meet those priorities. Are you willing to relocate for two years to do a full-time program, or do you want to look locally? Is financial aid important to you? Are you interested in studying with students who come from all over the world, or do you prefer to be among those who are primarily regional to the school? If you are looking to change careers, you are going to be much more interested in a program’s career management resources, networking opportunities, and access to employers. If you are a working parent, you are likely going to be more concerned about geographic location, time management, part-time options, and so on. Decide what you want the degree to do for you, and look for programs that can deliver on those goals.

How heavily does your program weigh the admissions criteria of undergraduate grades, GMAT scores, work experience, letters of recommendation, and essays? Why do you place the emphasis where you do?

The goal of the admissions process is to identify candidates who are going to be academically successful in our program and who are going to thrive in our program’s culture. We carefully evaluate all of the components of the application process to make this decision. We use undergraduate grades and the GMAT score to determine whether we think a candidate will be able to handle the academic rigor of the MBA program, particularly from a quantitative and analytical standpoint. The essay responses and letters of recommendation help us understand the motivation for pursuing the advanced degree and the fit of the candidate’s personality and interests with our school and its offerings. The work experience enables us to evaluate the candidate’s readiness for the program and whether he or she will be able to contribute to classroom discussions and team projects. We really do take a holistic approach to evaluate someone’s potential. We are trying to create a class of diverse students who are interested in becoming active participants in the Fisher and Ohio State community.

How many essays does your program require the student to write? What kinds of questions do you ask? In your opinion, what is the difference between a good essay and a bad one? What do you look for when you read admissions essays?

We require three essays, although one of them offers a fair degree of latitude and enables the candidates to be rather creative with the response. The essays are the part of the application that brings the candidate to life, so to speak. We prefer that the applicants stays true to themselves and answer the questions being asked as they would answer them rather than how they think we would want the questions to be answered. We really want to get to know the candidate through the essay responses. Good essays provide a window into the candidate’s personality, previous experiences, interests, hobbies, goals, strengths, weaknesses, etc. They provide this information without always blatantly spelling it out, too. Through the telling of the applicant’s story, we should learn these things. We shouldn’t read an essay that could easily be written for another person. The essays should be unique to the candidate, and they should show that the person has

seriously researched the program and has thoroughly evaluated why this particular program is a good match for his or her goals.

What kind of work experience do you look for? Does it necessarily have to be in a business field?

Any experience that has enabled a candidate to learn and grow is good experience. We see candidates coming from every imaginable background and industry. Many of our students do not have experience in business prior to entering the program. The diversity of undergraduate majors and jobs of the incoming students adds to the overall quality of the learning experience. Think about how boring it would be for every MBA student in the class to have come from the same major and job. So much of the learning in the MBA classroom comes from your peers, so having diverse perspectives and ideas completely enriches the experience for everyone involved.

Ideally, MBA candidates have worked in a job that has provided them with the opportunity to manage projects or supervise other people, but that isn’t always the case. Many prospective MBA candidates are looking for those managerial level positions, and that is why they are pursuing the MBA program—we understand that. Experience working in teams is certainly valuable, but it’s also something that is a large focus of the MBA program. Regardless of what kind of work experience someone has, we are looking for evidence that the

candidate has been successful in his or her previous employment, that he or she has developed strong communication and interpersonal skills, and that he or she is a high-potential leader.

What advice would you give students about whom to ask to write letters of recommendation?

We prefer professional recommendations over academic recommendations unless you are a recent graduate or have maintained a strong relationship with a professor or faculty member that could really speak to your potential for success in business school. Our first choice is to receive letters of recommendation from current supervisors, but we understand that sometimes the student does not want to inform their current supervisor about their business school application. In this case, a previous supervisor or current colleague could be other viable options. We also would be happy to receive letters from clients or from individuals with whom you work in a nonprofit or community organization or extracurricular activity, if there is one that would be appropriate.

When you look at transcripts, do undergraduate business majors have an advantage over those with majors in other fields? If someone’s major wasn’t in a business or related field, what would your advice be?

When we look at transcripts, we assess the courses you took while in college to determine whether we think you will be able to handle the quantitative rigor of the course work in the MBA program. Certainly undergraduate business majors may have an easier time demonstrating their academic aptitude in business courses than non-business

students. If you did not take very many quantitative courses in college, we will look to your GMAT score and your current job duties to evaluate your readiness for the program from an academic standpoint. Some applicants choose to enroll in undergraduate continuing education courses in accounting, finance, or statistics to demonstrate to the admissions committee that they have the quantitative aptitude that is required of the MBA program. On your resume, you can certainly highlight the job functions you perform that utilize the knowledge and skills that we would be looking for in an MBA candidate.

How important is timing in the admissions process? In other words, do students who apply early have an advantage over those who just meet the deadlines?

This is specific to each school you are considering. At Fisher, we have a rolling admissions process, so we make admissions decisions throughout the application cycle. It would definitely be to your benefit to apply early, as we have all of the seats available at the beginning, but certainly not towards the end. Furthermore, applicants who apply at the beginning receive priority consideration for merit-based financial aid opportunities.

What words of wisdom do you have for students who are considering applying to business school?

Talk to as many people as you can who are affiliated with the school (current students, alumni, and faculty and staff members). Visit the school. Consult with your loved ones. Trust your instincts.

When is the right time for prospective students to start thinking about business school? Upon graduating from college? After a few years in the job market? Why?

The time to consider business school is a personal decision. It can start as early as high school, while in college, or after a few years of work experience. It’s more important to consider why you want to go to business school. That motivation will drive the right set of decision making for a candidate.

What is the value of an advanced degree in business—in today’s society and in the future?

This is an important question today. There are many advanced degree programs in higher education that are saturated with a utilitarian approach to decisions around academic major and careers. This will have two affects:

1. It will influence fewer people to pursue a liberal arts education that can showcase broader skill sets such as communication and writing.

2. It will cause more graduate-level students to question their career decision making at the wrong time or late in their studies.

The advanced degree in business is the true generalist degree to pursue. You do not need to have earned a specific major to qualify or have a particular amount of work experience for most programs. Advanced business education is for the visionaries, artists, and

idealists as much as it is for consultants, bankers, and entrepreneurs. Business education will continue to be dynamic within the walls of the institution.

What are the most important factors that a prospective student should consider when researching business programs?

Again I think this is a personal decision because all of these factors coincide with fit. If someone wants to continue working and not leave his or her location, these will be different considerations in their particular order of importance. Each candidate should be honest about what will help them thrive and grow personally and professionally. Most of the time it surprises people where they end up and why, but if someone is open and flexible, the possibilities are endless in terms of which program may be right for you.

How heavily does your program weigh the admissions criteria of undergraduate grades, GMAT scores, work experience, letters of recommendation, and essays? Why do you place the emphasis where you do?

Each of these areas is very important because they are all telling us something different about someone. As gatekeepers, we are tasked with the difficult decision of deciding who will be successful academically and professionally—which isn’t always an obvious answer. It is critical for applicants to acknowledge and self-assess their weaknesses carefully so admissions committees will see the potential.

When I look at this list of criteria, I group them in two categories—what a candidate can control and can’t control. Undergraduate GPA and work experience is difficult to control, but the other criteria allow individuals to really take control of how they present themselves.

I think that is uplifting and very positive for candidates who are considering business school later in their career.

How many essays does your program require the student to write? What kinds of questions do you ask? In your opinion, what is the difference between a good essay and a bad one? What do you look for when you read admissions essays?

Essays are an exciting piece to the application. We have to ask about your goals and where you see the resources of Johnson fitting into these. You have to make that connection, and it’s the only place in the application to show this. Our favorite essay is where we ask applicants to write the chapter headings to their life story. This is where applicants can be creative and personal. Many have said they were challenged about what to write while at the same time it was the essay they looked forward to writing the most. We love that! Lastly, we ask about the legacy you want to leave at Johnson and our community. This question is really looking for how you see yourself linking to our community inside and outside the business school. At Johnson, the culture is inclusive of Cornell and the surrounding community of Ithaca.

What kind of work experience do you look for? Does it necessarily have to be in a business field?

Increasingly, we are seeing more unconventional candidates who don’t fit that business school applicant model. It is important to show evidence of success from your previous role and how this translates into what you want to do. You will need to do this in front of employers, so it’s important to perfect this pitch.

What advice would you give students about whom to ask to write letters of recommendation?

The request for letters of recommendation is the only time where we ask for an outside opinion. If someone only focuses on a person’s title, then the quality of the letter will not resonate with the reader. Therefore, we encourage applicants to choose those who can speak to their experience, provide specific examples, and be supportive of their decision to pursue business school.

When you look at transcripts, do undergraduate business majors have an advantage over those with majors in other fields? If someone’s major wasn’t in a business or related field, what would your advice be?

An undergraduate business major doesn’t translate into a successful business school student. In fact, there is little evidence that shows that the undergraduate major is a predictor of success. GPA is a more accurate measure, but non-business majors shouldn’t discount that they chose that path for a reason, and what you have accomplished after college is just as relevant.

How important is timing in the admissions process? In other words, do students who apply early have an advantage over those who just meet the deadlines?

For Johnson, students who apply early will be reviewed earlier. We do our best to get through our applications as soon as possible and many times before the published notification date.

What words of wisdom do you have for students who are considering applying to business school?

Be yourself. Be introspective and reflective. Be certain about what you want and expect from a program. Be open and flexible about changing your mind. Your peers, professors, and new colleagues will teach you more than what you expected to get out of business school.

How Graduate School Can Engineer Entrepreneurial Success

In the not-too-distant past, MBAs seemed as necessary to business success as tailored business suits. Yet in 2011, higher education suffered a blistering blow from an unlikely source: the titans of tech.

In May 2011, billionaire tech entrepreneur Peter Thiel made an announcement that is typical of the disruptive nature of the technology industry. He offered $100,000 to 24 young adults to follow their entrepreneurial dreams and dedicate two years of their lives to building a company. The major caveat: they had to drop out of college. It was an opening salvo in an on-going debate. Is graduate school even necessary for entrepreneurial success?

Increasingly, business-minded folk and others are asking this question. They wonder if they really need graduate school to boost their station in life.

Their doubt is bolstered by rising tuition costs and some highly successful exceptions to the rule--Bill Gates, Steve Jobs, and Mark Zuckerberg are the most famous college dropouts known in tech. It’s also supported by the disdain for traditional higher education that has spread in to the mainstream by billionaire tech investors turned pundits. For some people in some careers, some colleges may be worth the price they charge, Thiel wrote in The New York Times, in 2011. But millions of other people are paying more than quadruple what their parents paid 25 years ago (plus inflation) for a vague credential, not much knowledge or skills, and a crippling amount of debt.

So, should you eschew graduate school in favor of hopping in a VW and driving to Silicon Valley to stake your claim? Not so fast. The problem is the facts do not support that VW mystique.

While Thiel, who hit it big as Paypal founder and then as the first investor in Facebook, promotes the notion that higher education isn’t necessary for success, he’s a walking contradiction. With a BA in Philosophy from Stanford University and a Juris Doctorate from Stanford Law School, Thiel is significantly more educated than the young dropouts he’s encouraging to skip college. There are those who call this idea that tech CEO’s do not need higher education disingenuous at best and dangerous at worst.

In fact, a review by U.S. News & World Report of the Fortune 500 CEO’s list in 2012, found 68 percent of CEO’s had graduate degrees. Four out of ten have MBA’s and 140 have other graduate degrees. So the idea of bypassing graduate school in favor of business success is more myth than meal ticket.

The notion that creating a billion-dollar business in your living room sounds tantalizing, but on the whole it’s the exception to the rule. Experts say going to graduate school isn’t a burden but a boon to business success. In fact, they say, graduate school has tangibles that you just can’t get in the real world. Besides the invaluable knowledge gleaned from studying historical case studies, learning about pricing structures, economics, management philosophies and interpersonal growth, going to graduate school has some intangible benefits that many people overlook. Some pluses include:

• The ability to learn in a safe, less risky environment. Facebook reportedly gives all its engineers access to the website’s code. The engineers compete on a daily basis to make upgrades and tweaks to the company’s product. Each day, Facebook pushes a new version of its website at 4:30 p.m., eventually allowing its engineers to create new products for a mind boggling billion people. While this is highly regarded for pushing innovations sometimes the engineers make mistakes and consequences occur. Like the time a new engineer pushed code that basically shut the entire site down. Oops! When you go to graduate school you can learn, innovate, and make mistakes—but the livelihood of 4,000 employees isn’t at stake.

• The opportunity to learn who you were meant to become. When Guillaume Decugis decided to get his MS in Engineering at Stanford in 1995, he was on a traditional engineering path. He thought he’d graduate, get a high-paying job, and make his mother in his native France proud. Instead, he got immersed in the tech culture at Stanford, met entrepreneurs who were building companies on campus, and decided he wanted in on that world too. I had no idea that I wanted to be an entrepreneur, he said. I learned about that at Stanford. Decugis went on to found Musiwave, the top mobile music seller in Europe, sold it to Microsoft for millions, and now is the CEO of the content curation Web site Scoop It!

• Unprecedented access to infrastructure at no cost. Let’s face it. Larry Page and Sergey Brin were pretty smart cats, but they weren’t millionaires back in 1995 when they met at Stanford’s Ph.D. program—but they had a dream. Page wanted to develop a way to figure out how the known 10 million documents that occupied the World Wide Web at the time were connected. Who, he wanted to find out, was linking documents to whom. Fascinated by the scale of the project Brin joined Page as he began to build a crawler that would trace all those documents and their links. They eventually left the Ph.D. program at the Palo Alto school to found Google but not before they took advantage of some sweet resources offered by the college. As John Battelle noted in his book The Search: How Google and Its Rivals Rewrote the Rules of Business and Transformed our Culture, at one point the BackRub crawler (Page’s research project) consumed nearly half of Stanford’s entire network bandwidth. Page and Brin both say there is no way they would have had the infrastructure, equipment, and foundation they needed to start Google without the help of their college alma mater. We’re lucky there were a lot of forward-looking people at Stanford, said Page, quoted in Battelle’s book. They didn’t hassle us too much about the resources we were using.

• The opportunity to recruit some of the best and brightest without spending a mint on H.R. To start his successful multi-billion dollar company, Mark Zuckerberg had to travel less than 300 feet. His capital investment came from roommate Eduardo Saverin, his supplemental programming prowess came from roommate Dustin Moskovitz, his marketing guy came from across the hall in Chris Hughes, and his site design and logo came from fellow Harvard-ite Andrew McCollum. Not a bad line-up for a start-up that’s now worth many billions of dollars. The ability to build networks with people you trust and who know your passion cannot be underestimated. Going to graduate school can help solidify these relationships in a way no other experience can. It’s like securing a pass to a secret club where only the members know the password. And having alumni connections can pay off years after you graduate.

Being an entrepreneur and going to graduate school are compatible, says Decugis.But you don’t need grad school to be an entrepreneur. As a matter of fact, if you already know you want to be an entrepreneur as a student, I would actually delay grad school until later. Grad school is useful in several ways: sharing experience with other people, learning things that can help you in your job, and, even before that, understanding what you want to do in your career. If you’re already determined on the latter, you’ll actually be benefiting from the learning more with an experience, and there are lots of other ways to meet people. So it’s really not something you should see as either mandatory or incompatible.

Whether you decide to attend graduate school or not, do not be fooled. All that glitters isn’t gold and for every Google there’s a Pets.com. Anyone can start a company but sustaining one is a different story. And a look at who is at the helm of the richest companies in America tells us that a graduate degree isn’t an endangered species just yet.

How Business Schools Are Catering to