Business School Spotlight: The Isenberg School of Management at the University of Massachusetts Amherst
April 17, 2013
This week we are continuing the ramp up to our Road to Business School event series in August by spotlighting another one of the prestigious schools that will be in attendance: The Isenberg School of Management. The Isenberg School of Management’s beliefs are rooted in the power of collaboration, adaptability, and a strong work ethic. Above all, they value innovative multi-disciplinary project-based learning, and a close personal connection between students, faculty, and the vast network of successful alumni. The school is located at the flagship campus of the University of Massachusetts in Amherst – a resource-rich, public research institution renowned for its accomplishments in technology, entrepreneurship and sustainability.
You’ll have the opportunity to meet with representatives from The Isenberg School of Management at our upcoming Road to Business School fairs. Don’t miss your chance to meet one-on-one with admissions representatives from this highly respected program. Register today!
The Isenberg School of Management, at the University of Massachusetts Amherst
The Isenberg Full-time MBA is a 2-year residency program designed for individuals who want an on-campus experience and desire to specialize in a specific area of business. The first year is focused on core business curriculum while the second year provides the freedom to focus on your particular area of interest. The Isenberg experience offers individual attention, a collaboration culture, exceptional ROI, and long-term career success. The Isenberg MBA gives you the freedom to complete your degree on your own terms. It’s about options – the flexibility to pursue your studies full-time at their flagship campus, completely online from anywhere in the world, or in a blended format at one of their satellite campus locations in Massachusetts. Online and blended options offer the same AACSB-accredited curriculum and accomplished faculty as full-time, traditional classes – the difference lies in the freedom and convenience provided by these alternative venues. Rigorous regardless of its flexible format, the Isenberg MBA provides up-to-date knowledge and skills for today’s complex business environments.
Isenberg attracts motivated students from all 50 states and 19 foreign countries and continues to garner attention from the nation’s biggest, most profitable, and most influential companies – over 47% of students in the program are employed by Fortune 100 companies. As one of the first major accredited business schools to pioneer offering graduate education online, the Isenberg MBA is enterprising, with a strong emphasis on experiential, collaborative learning.
The Isenberg MBA has received ongoing national recognition including:
#6 Best Online MBA Program under $50,000 (The Best Colleges, 2011)
#8 Top Part-time Best Business School in the Northeast (BusinessWeek, 2011)
#10 Smart Choice Online MBA programs (SuperScholar, 2012)
#18 Top 25 Online MBA Programs (The Best Colleges, 2011)
#28 Best Part-time MBA (US News, 2012)
The School is also home to the Center for International Securities & Derivatives Markets, the Virtual Center for Supernetworks, the Mark H. McCormack Center for Sport Research & Education, the Center for Entrepreneurship & Innovation and the Chase Career Center, a professional development resource tailored especially for the needs of business students.
For more information on the Isenberg School of Management at UMass Amherst, please visit: www.isenberg.umass.edu/mba.
Last summer, the GMAT made the most major change to its format in 15 years by replacing one of the essays with the Integrated Reasoning (IR) section. Since then, GMAT test-takers have been wondering how IR impacts their b-school applications. As it turns out, business schools are wondering exactly the same thing.
In the IR section of the GMAT, test-takers evaluate data in graphs, spreadsheets, and charts, similar to the materials they will eventually see in business school. In theory, IR can better assess students’ ability to perform the tasks expected of them in business school and the work world. Nearly a year after the inclusion of IR, the Graduate Management Admission Council (GMAC), who administers the GMAT, and business schools nationwide are taking the first steps to determine what role IR should play in the admissions process.
Bloomberg Businessweek recently reported that business schools across the country are actively assessing the significance of IR performance on students’ eventual success in business school. While IR isn’t currently being given much weight in the admissions process, largely because many applicants took the GMAT before the test change and therefore do not have IR scores, business schools are analyzing IR data to get a better understanding of the role it will eventually play in admissions. Dan Poston, of the University of Washington’s Foster School of Business, states, “We want to see how it [IR] plays out…We want to see how predictive it is of student’s success at school.”
GMAC has released some key data on the IR section, based upon results of the more than 123,000 test-takers who have taken the GMAT since IR was added to the test. GMAC reports that the distribution of scores is normal and without bias against any subgroup of test-takers. In short, these results suggest that IR has the potential to be a valid predictor of student success in b-school.
In addition to analyzing data from GMAC, some schools are directly studying the connection between IR and student performance. For instance, at Vanderbilt University’s Owen Graduate School of Management, a group of 60 second-year students will complete the IR portion of the GMAT. Their IR scores will then be compared to their success in core courses in order to determine whether IR performance positively correlates with b-school performance.
The obvious question for GMAT test-takers is how they should approach IR in order to put together the best application package possible. While IR may not play a major role in the admissions process for the next few years, a solid IR score can only help applicants. As Dawna Clarke of Dartmouth College’s Tuck School of Business notes, “IR will help prospective students more than it will hurt them…If you are not ‘quant strong,’ but you have strong IR skills, then this test will help you shine.”
Consider a Top European Business School
March 1, 2013
Although many business school candidates who are competing for places at the top U.S. business schools are well aware of the strengths of the MBA programs at INSEAD and the London Business School, even more options are available beyond these two, including IESE, ESADE, Oxford (Said) and Cambridge (Judge). These four schools in particular have been aggressively playing “catch up” with their better-known brethren by raising funds and dedicating them to scholarships and to enhancing their global brands. Those who know their business schools also know that IMD offers a boutique MBA program with remarkable international diversity, very highly regarded academics and a stellar reputation with international employers.
So, numerous options are available, and each can be explored on its own academic merit, but is earning your MBA in Europe, in itself, a good choice for you? For many, the key issue in determining this centers on where they would like to be after completing their education. If you are seeking to work in Europe, then clearly, these schools offer an advantage over all but the top five or six schools in the United States. (Harvard Business School, for example, can probably open as many doors in Europe as INSEAD can.) However, if you are seeking to work in the States, then the European schools will not provide the pipeline of opportunities that a top-15 American school will provide, particularly for those who hope to work in niche industries or with companies that are not well-known international brands.
Still, beyond the employment picture, studying abroad offers intrinsic value. Two years in London, Fountainbleu or Lausanne can certainly be its own reward…
Considering applying to a European b-school? Sign up for a free 30-minute consultation with an mbaMission consultant to get your questions answered!
Great News for MBA Grads
February 7, 2013
In recent years, the job market has faltered due to the lagging world economy, and MBA grads were hit just like everyone else. However, a recent survey conducted by the Graduate Management Admission Council (GMAC), who administers the GMAT, reveals that employment is up for 2012 MBA grads. Of the 4,444 MBA and other graduate-level alumni surveyed, 92% were employed three months after graduation–6 percentage points higher than reported by graduates in last year’s survey. Additionally, 77% of those surveyed this year reported that their starting salary met or exceeded their expectations, and 76% stated that they could not have gotten their jobs without their graduate management education.
Dave Wilson, GMAC president and CEO, attributes this year’s higher employment percentages to the improving world economy, stating, “As the economy improves in many parts of the world, employers who are hiring look for skilled managers to lead the way. MBAs and other graduate degrees provide the skills people need to manage tough problems in today’s complex marketplace.”
Compensation for 2012 MBA graduates differed most significantly by work location, with Europe featuring the highest median salary ($105,120) and Central Asia the lowest ($27,818). The median salary in the U.S. was $83,000, with Canada just slightly behind at $81,443 (all salaries are expressed in USD). Also, compensation varied between full-time two-year and one-year MBA programs: graduates of two-year programs reported a median salary of $85,000, while graduates of one-year programs reported a median salary of $59,000.
These promising survey results demonstrate that now is a great time to move forward with your plans to get your MBA. Check out other Kaplan GMAT blog posts for tips on getting started with the process, and look for upcoming free Kaplan GMAT prep and admissions events at kaplangmat.com.
The summary report of the 13th annual GMAC Alumni Perspectives Survey can be found at gmac.com/alumniperspectives.
MBA Background Checks
January 24, 2013
Framing. We all do it. In order to get what we want, we take information and communicate it so as to please, mollify, or otherwise woo the recipient of the information in order to increase the chances that the outcome will result in our favor. As with many other ethical dilemmas, a clear boundary might exist (i.e., outright lying to someone, although “Santa is real, my child” hardly seems unethical to many), but it is surrounded by a vast hazy shade of grey. For example, can omitting information equate to lying? Sure, but is that always the case?
“Who baked these cookies?”
“I did,” says the guy that cut open the tube of dough, arranged globs on a flat piece of metal, and inserted everything into a hot oven.
A recent article from PoetsandQuants.com delves into the common practice of individuals undergoing thorough background checks by third party companies after acceptance into an MBA program. This check occurs before the “all clear” is officially declared by the institution and the applicant becomes an active student. Basically, an applicant passes all admissions obstacles and processes and is accepted into the program. At that point, all records from the accepted cohort are sent to an agency and each person’s application information is scrutinized thoroughly.
Quite fairly, schools want to be sure that folks are who they say they are, and that no one has been admitted to their program on the back of false information. It is unfortunately easy to imagine someone attempting to defraud the admissions process. Further, the ramifications of a successful con are abhorrent. Thus, background checks are common practice and have been for quite some time.
No big deal, right? Just tell the truth; it’s that easy.
Yet, as illustrated in the above example, the truth is easy to manipulate. What’s more, the manipulation of truth is exactly what we all do all the time. Heck, if we didn’t, nothing would get done because of all the explaining and tangential footnotes! But, the facet more relevant here is the manipulation of information (aka, framing) all aspirant graduate students, employees, fiancés, etc. engage in so as to get what they want.
While the stress of background checks are blown way out of proportion by many out there, the article does present examples that illustrate how comprehensive and obtrusive these investigating companies can be in their process.
The key takeaway is that when you are composing your application packages, clarity and disclosure are the words of the day and reign in that spin doctor sitting on your shoulder.
Are you a recently admitted student that has gone through a background check or about to? Are you nervous about it? Are you confident about it? Is there just one nagging thing you think could possibly be misinterpreted? Share your thoughts!
UPDATE:
Bloomberg Businessweek posted and article titled Understanding the MBA Application Background Check. The FAQ style write-up does well to illuminate the process and demystify what happens and why. Definitely give it a read!
The Pros and Cons of a Part-Time MBA
January 17, 2013
We often get questions about part-time MBA programs and their value. We thought it would be good to take a look at some of the pros and cons of this MBA option.
As for the pros, the one candidates cite most frequently is that the part-time MBA has a limited opportunity cost. Unlike the full-time MBA student, the part-time MBA student does not miss out on two years of salary and still has the opportunity to earn raises and promotions while completing his/her studies. Furthermore, firm sponsorship seems to be more prevalent for part-time MBAs, so candidates who have this option can truly come out ahead, with a free education and continued earning throughout. Beyond the financial rationale, many part-time MBA students see an academic advantage; they can learn both in the classroom and at work and can then turn theory into practice (and vice versa) in real time, on an ongoing basis. Of course, a cynic might add that another pro is that part-time MBA programs are generally less selective. So, some candidates who may have had a hard time getting accepted to a traditional two-year program may have a better chance of being admitted to a well-regarded school in its part-time program rather than in its full-time program.
As for the cons, many part-time MBA candidates feel that the comparative lack of structure means that networking opportunities within the class are more limited. While one part-time Kellogg student could complete the school’s MBA program in two years, another might complete it in five. As a result, with candidates completing the program at such different paces, students will not likely see each other regularly in the same classes, at the same social events, etc. In addition, in a traditional MBA environment, academics always come first; in a part-time environment, work typically comes first, and academics come second (or even third, after family). In other words, the full-time program generally involves greater intensity with regard to the classroom experience, given that it is the sole focal point of students’ lives. Another thing to consider is that some MBA programs do not offer all of their “star” faculty to part-time students (something that candidates should definitely ask about before enrolling) and offer limited access to on-grounds recruiting.
With this post, we are not trying to offer a definitive “answer” or present a bias for a particular kind of program, but are simply trying to present some objective facts for candidates to consider as they make informed choices for themselves.
For one-on-one advice, sign up for a free 30-minute consultation with an mbaMission consultant.
Managing Anxiety for the GMAT and Admissions
December 21, 2012
At this time of year, a lot of folks out there are stressing over an impending GMAT test date or looming admission decisions. Most likely, it’s both. ‘Tis the season for aspirant graduate students to hurry to meet application deadlines only to have to wait weeks (if not months) to receive word from their targeted MBA programs.
Although the end-of-year holidays usually mean time off work, too much eating and drinking, and gifts from friends and family, it is certainly not a time devoid of its own inherent stressors. And, if that stress was not enough, the myriad facets of b-school admissions serving as compounding factors can leave many of us curled up in our beds under the weight of it all.
Of course, nail-biting shrouded in an electric blanket does us no good and, in fact, makes things worse. Here are some ideas on how to push back at stress and set up for success:
The GMAT
- Study. Yes, I know you are doing that, but thorough preparation is all you can do, and it’s good enough.
- List, on paper, GMAT stressors according to two categories: intrinsic and extrinsic. Intrinsic stressors are things about the test itself. For example, data sufficiency questions, strategic reading, properly identifying Critical Reasoning question types, time management, etc. Extrinsic stressors are those that are out of your control in the immediate but nonetheless affect you now. Examples are getting into b-school, the desire to please or make proud your parents/spouse/friends/self, the cost of everything, your future with or without an MBA, etc.Of these two types of stressors, preparation is the only thing you can do to overcome them. Intrinsic stressors are removed or otherwise ameliorated by prep, and prep is the only thing you can do to take your mind off of the extrinsic stressors while simultaneously positioning yourself for the best possible outcome on most or all of these extrinsic buggers.
- Plan the post-test celebration well in advance of Test Day. You need to have really fun things to do with really fun people locked, loaded, and ready to go as soon as you step out of that testing center. No matter the result—good, bad, great, or other—you are going to have a fantastic time and congratulate yourself copiously for all the hard work you’ve put in. (Just don’t get arrested.)
- On test day, remind yourself that you are ready—you have seen all this stuff before and you’ve already swung this bat a thousand times with the expressed function of perfecting that swing. Test Day is different, but the game is the same. Play it like you know how to play it.
Admissions
Here, I’ll turn to clinical psychologist and co-author of Stress Management: A Comprehensive Guide to Wellness (Ballantine Books, revised 2004), Edward A. Charlesworth. Bloomberg Businessweek recently leveraged Mr. Charlesworth’s ideas in a column and they are worth a read. The column is titled How to Handle MBA Admissions Anxiety and you can find it here.
After considering these two lists, please let us know how you handle stress. Chances are, your approach will help someone else! And Happy Holidays!!!
MBA Admissions Myths Destroyed: Admissions is a Science!
November 30, 2012
What does a 3.8 GPA + 670 GMAT + 4 years of work experience + 3 years of community service equal? The answer is that it could equal nothing and it could equal a letter of admission. It is impossible to respond with confidence because admissions is absolutely not a science. After all, if it were a science the admissions office would just do away with the entire time and resource consuming admissions process and publish a simple formula. Why not make life that much simpler for everyone?
In some countries, there are simple tests which establish benchmarks — one gets into a top MBA program with a score of X and does not with Y. In the United States, some graduate programs have cutoffs for GRE scores or situations where LSAT scores and grades are definitive. Plainly put, when talking about the top global , there is no simple criteria. Instead, the admissions committee reads a file holistically and seeks evidence of your ability to contribute in the class and perform at the highest levels post-graduation. GPA’s, GMAT scores, work experience, etc., are just parts of the larger equation.
While it can be comforting to try to reduce the MBA admissions process to a simple science, as an opaque process suddenly becomes clear and comprehensible, it is unwise to do so. By listening to chatter on message boards or blogs about the “right GMAT score” or the “right amount of work experience,” instead of listening to the word of the admissions officers, who are at pains to explain that the process is holistic in nature (meaning that they evaluate all criteria with no particular scorecard), you expose yourself to, at best, a risk of wasting your time and at worst a risk of wasting your energy on fruitless endeavors. It is crucial that you be your best candidate and thus you need to present your full story, not just some simple stats.
While it can be comforting to try to reduce the MBA admissions process to a simple science, as an opaque process suddenly becomes clear and comprehensible, it is unwise to do so. By listening to chatter on message boards or blogs about the “right GMAT score” or the “right amount of work experience,” instead of listening to the word of the admissions officers, who are at pains to explain that the process is holistic in nature (meaning that they evaluate all criteria with no particular scorecard), you expose yourself to, at best, a risk of wasting your time and at worst a risk of wasting your energy on fruitless endeavors. It is crucial that you be your best candidate and thus you need to present your full story, not just some simple stats.
MBA Admissions: Be a Human Being, Not a Robot
November 2, 2012
I want to make an appeal to all the business school applicants out there to be a real person, not a robot! A few weeks ago I was at a networking event here in Berkeley. I was enjoying connecting with friends and potential business partners. Then, up walks this very awkward MBA student. He was clearly very smart and very nice. However, the conversation went something like this:
Him: I think we met before. [Awkward pause while he stands too close to me for the culture]
Me: Yeah you look familiar, where was that?
Him: So what do you do? [Clearly checking off the box of ‘how to network’ and not listening to my question]
Me: I am working on a music tech startup that…What are you up to? [Planning my exit already – this is totally weird]
Him: So how are you liking the program? [Still no connection to what I just said]
[We have a 3 minute, totally boring and disconnected conversation about nothing while I drink my beer as fast as is socially acceptable so that I have an excuse to get out of there…]
This kind of thing goes on far to often. Smart people go around checking off the boxes of “how to network effectively” at these events while totally alienating their audiences and leaving a wake of boredom and discomfort behind them. If networking is not something you’re comfortable with, by all means, read up on how to do it well. Read all you want. But when you walk into the room, toss the book out the window! Even though the room is full of consultants, bankers, engineers, and entrepreneurs, we are all, first and foremost, human beings. Just act like a human being. Talk to other people like they are human beings. Ask them about their lives and how their day went? Listen to what they say…empathize. Make a personal connection with people. Talk to them about their stories and share yours.
This stuff is extremely important in the bschool admissions process. We’ve spoken on this blog about the importance of crafting a great story for your business school application essays. In order to do this, you need to understand the various aspects of your experience at a very deep level so that you will be able to find the common thread that connects your past experiences to your future goals in a compelling way. However, while the essays are extremely important, their real function in most cases is to get you through the door for an interview. If you write a great story and then act boring and awkward at the interview, the whole show is going nowhere. You need to live and breathe your story, weave it into your life in a meaningful way, and learn how to share it with others when you meet them.
I’m not advocating that you bombard people with a canned bshcool story. That happens all the time and it’s very awkward. What I am suggesting is that you internalize your story so that everything from your handshake and eye contact to the way you answer questions is congruent with the story you’re writing in your life. Human beings are storytellers. That’s how we create meaning. A great story draws us in and makes us care. That’s what you need to do. And to get there…focus on being a human being, not a robot!
