May 20, 2013
One’s level of Emotional Intelligence (EI), sometimes referred to and measured as an Emotional Quotient (EQ), not to be confused with one’s Intelligence Quotient (IQ), is gaining more and more importance in the minds of psychologists, sociologists, human resource professionals, and, now, business school admissions officers – at least at Yale anyway. The Yale School of Management will begin testing its 2013 MBA cohort on their ability to both manage and understand emotions, according to a recent article. The testing is being initiated with the expressed intention of one day including such EI evaluations in the admissions process at the school. From the article:
“It is our goal to more closely tie the Leadership Development Program and admissions process together,” writes Bruce DelMonico, assistant dean and director of admissions, in an e-mail. “We feel it would be a natural complement to the more quantitative elements of the admissions process (test scores, previous academic performance) and would help us gain a fuller sense of our students’ leadership abilities, but we are still evaluating the best way to integrate it into future admissions cycles.”
Interestingly, according to the Wall Street Journal, Notre Dame’s Mendoza College of Business has been using a 206-item online questionnaire for the last three years it calls the Personal Characteristics Inventory to further assess its applicants. As per the WSJ article, applicants are bifurcated into “recommended” and “not recommended” categories. Being placed in one category or the other does not ensure acceptance or declination, respectively. In fact, the senior associate director of MBA admissions at Mendoza claims the inventory is used primarily to “identify diamonds in the rough.”
Yale and Notre Dame are not alone. Dartmouth and MIT’s b-schools have and continue to incorporate some aspect of EQ testing in candidate and/or student assessment and the University of Ottowa have studied the EQ of their med school applicants. Yet, a leading theorist on Emotional Intelligence, Daniel Goleman, cautions that business school may well be interpreting EI inappropriately if they are selecting for it. Since EQ can be increased over time, experience, and training, “It should be the task of the business school itself to help people develop strength in emotional intelligence,” says Goleman in the WSJ article.
Misperceived or not, EQ metrics appear to be gaining ground in the b-school admissions process. If you are interested in learning more about your emotional intelligence quotient, tests abound. And, may this be a warning: caffeine has been called the “silent killer of emotional intelligence.” So, if it’s Yale you want, perhaps consider cutting java out of your life.
May 8, 2013
Time: 9:30pm-11:00pm ET/6:30pm-8:00pm PT
What: GMAT Bootcamp
Hosts: Kaplan GMAT Instructor Team — Justin Doff, Teresa Rupp, and Lucas Weingarten
Why: To learn the strategies you need to build the speed and accuracy to tackle the most advanced content on the test.
Listen up, people! You’ve got somewhere to be on Tuesday, May 14, 2013! One of Kaplan’s Elite GMAT instructors, Justin Lawrence Doff (shown here), will be on-camera and coming to you live from Los Angeles, CA dead-set on a singular agenda: arming you with what you need to conquer the most advanced attacks the GMAT has to throw at you. Learn how to set the pace on the climb to the top scoring tiers and, most importantly, how to maintain that level of performance to the end.
It’s bootcamp*. Expect to work hard and to make gains. No matter where you are in your GMAT prep cycle, Kaplan GMAT Bootcamp is designed for the GMAT warrior within us all.
We are saying ‘JUMP!’ and you are saying ‘HOW HIGH?’ See ya Tuesday.
*But don’t worry. We aren’t going to yell at you.
May 8, 2013
Now is the time to very seriously start preparing for the business school application process. Our Road to Business School event series in August is fast approaching and every week leading up to it we are highlighting a new MBA program. This week’s school spotlight features the IE Business School. If you are interested in a unique international experience coupled with a high caliber dynamic MBA program, IE should be at the top of your list.
You’ll have the opportunity to meet with representatives from the IE Business School 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!
IE Business School
IE is an international institution dedicated to educating business leaders through programs based on the core values of global focus, entrepreneurial spirit, and a humanistic approach.
IE has more than 500 international faculty members which teach a student body composed of more than 90 nationalities in their Undergraduate (IE University), Master, and Doctorate degrees, and Executive Education programs. Their alumni, now numbering over 40,000, hold management positions in some 100 countries worldwide.
Recognized as one of the world’s top business schools, IE is highly ranked for its MBA, Master, and Executive Education programs. IE Business School has an urban campus in Madrid and an online learning environment, thus catering to students who want to experience Madrid and to those who prefer to participate in our Blended programs which allow them to maintain a work-life balance. Our rolling admissions process means that candidates can apply at any time. IE Business School – a truly diverse center for innovation, entrepreneurship, and academic excellence.
Summer is fast approaching, which means that now is the time to very seriously start preparing for the business school application process. Kaplan plans to do our part to help you get a taste of what is out there leading up to our Road to Business School event series in August by highlighting a new MBA program each week. This week’s school spotlight features The Fisher College of Business at The Ohio State University.
You’ll have the opportunity to meet with representatives from The Fisher College of Business 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!
Fisher College of Business - The Ohio State University
The Fisher College of Business MBA program prepares every student for an extraordinary career through an action-based, business management education, hands-on learning opportunities, and international experiences. Each student receives personal attention, and benefits from an unparalleled network of resources—including our distinguished faculty, strong business connections, proven career management office, and extensive alumni network.
March 15, 2013
The graduate school admissions process is extremely stressful from start to finish. And, the finish, of course, only occurs when those letters from admissions committees start rolling in. This the point at which many of you out there currently find yourselves.
A Bloomberg Businessweek article covers some incoming reports from admissions officers at many of the nation’s top schools. According to the article, most of the decisions for the Round 2 cycle will be pushed out to applicants by the end of March—the 28th to be precise.
Here is a quick summation of decision info from the schools featured in the article:
University of Michigan’s Ross School of Business:
Rnd 2 calls begin March 12th
All decisions posted by March 15th Rnd 3 decisions announced May 15th
University of Virginia’s Darden School of Business:
Rnd 2 calls begin March 20th
Rnd 3 deadline is March 28th Unaccepted applicants can register for a feedback phone call in May. Calls will be made in June
University of Chicago’s Booth School of Business:
All Rnd 2 notifications will be complete by March 28th
Rnd 3 deadline is April 4th
University of Pennsylvania’s Wharton School:
Rnd 2 decisions made by March 26th
Rnd 3 decisions by May 3rd
Stanford University’s Graduate School of Business:
Rnd 2 decisions pushed out by March 27th
Rnd 3 deadline is April 3rd
MIT’s Sloan School of Management:
Rnd 2 decisions released on April 2nd
No Rnd 3 at MIT
Duke University’s Fuqua School of Business:
Rnd 2 notifications complete by March 18th
Rnd 3 deadline is March 21st Rnd 3 interview invitations sent by April 10th and decisions made by May 10th
Harvard Business School:
Rnd 2 notifications complete by March 27th
Rnd 3 deadline is 12:00pm EST on April 8th
Cornell University’s Johnson Graduate School of Management:
Rnd 3 decisions by April 3rd
Rnd 4 deadline is March 27th (Note: four admission rounds in a unique feature of Cornell’s admissions process)
Northwestern University’s Kellogg School of Management:
Rnd 2 decisions by March 21st
Rnd 3 off-campus interview request deadline is April 3rd
Rnd 3 decisions made by May 15th
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.”
March 5, 2013
On Wednesday, February 27, 2013, the student loan ombudsman at the recently minted Consumer Finance Protection Bureau (CFPB), Rohit Chopra, declared yet another systemwithin the U.S. economy ‘too big to fail.’ While Sen. Warren is grilling Ben Bernanke on what exactly the Federal Reserve is doing to remedy the unacceptable influence big banks wield on the health and state of our economy, the student loan debt market, comprised of public and private lenders, has shot past $1 trillion and continues its relentless climb.
Last year, students borrowed $117 billion from the federal government alone—our most inexpensive and forgiving education creditor. [Although, if our ever-competent and productive legislators [sic] fail to reach an agreement by July 1st of this year, interest rates on subsidized Stafford loans will be hiked to 6.8%.]But, is this any surprise? The cost of college is increasing at a rate of 8% per year, five times the current national rate. This tuition inflation rate translates to a doubling of tuition every nine years. Of course, tuition is nowhere near the entirety of the cost of higher education. In fact, an investigation by Business Insider estimates an average of $70,000 in additional costs above the tuition sticker price, and that is just an undergrad number.
Some are lucky enough to be able to cover the cost of undergraduate and graduate degrees, but more are unable to do so without incurring debt.As you look toward your MBA degree and the multi-faceted investment it involves, take the time to objectively evaluate where a graduate management degree from your targeted institution(s) have the potential to take you. Do not sell yourself short or the institution, but approach this analysis soberly. It may well be that you conclude that you need to set your sights higher and, therefore, incur even more cost in order to track your future in the direction it needs to go. If you have the drive and are willing to make the commitment to do what it takes to get into a top tier school, then go after it. If that does not make sense for your career path and goals, however, then get what you need at less cost.
The numbers surrounding student loan debt are terrifying, both macro and micro (I speak from experience here). But, just as a fledgling company needs investment to grow and prosper, so do individuals. If you decide to take the plunge, then go all in. Sign up for a GMAT class, take trips to universities, apply for scholarships and grants, accept loans if necessary. After all, where is the reward without the risk? Just be sure to do all of these things prudently and with a clear head. Do not be duped into a system that will not reward your risk.Defaults will hurt us all.