Q) The following is a collection of shared Booth moments.
Choose the moment that best resonates with you and tell us why.
Booth’s MBA Application Essay for 2016-17 has maintained the same format as last year with a pictorial series of 10 moments as the prompt.
If you pay close attention, the admission team is asking – what aspect of Chicago Booth MBA experience do you like the most
1.New Venture Challenge
2. Travel & Experience International Culture
3. LEAD (Leadership Effectiveness and Development)
4. Harper Center
5. Esteemed Professors
6. Global Social Impact Practicum
7. Booth Alumni
A recent study by the Financial Times shows that Booth stands at #4 in the world when it comes to the most Alumni as CEOs in Fortune 500 companies, behind Stanford(8), Insead(9) and Harvard (28). If you look at the Alumni who have climbed the CEO position in small and mid-sized Business, the number of Booth MBA CEOs is at 5,400, with their contribution distributed in companies as diverse as JPMorgan, Pfizer, Gillette, and Suzuki.
If you have an Entrepreneurial streak, it would be reassuring to know that Booth MBA Alumni have started some of the coolest brands: ZipCar (the car sharing company), GrubHub(Food Delivery Service), Bobtail Ice Cream(Homemade ice cream in classic & specialty flavors), Harpoon Brewery(best known for Harpoon IPA) and PrepMe (Online Educational platform for standardized tests -PSAT, SAT and ACT).
In top Business Schools, Entrepreneurship as a career is mostly chosen by less than 5% of the total class. Booth is no different in that regard. For the latest class, 3.3% or 19 Boothies continued in new venture creation or persisting with their Business.
The Admission team is not repeating itself with New Venture Challenge and Entrepreneurship in the essay...
Regatta or a series of rowing and sailing events, hosted by London Business School, brings out the competitive spirit among top MBA alumni. Chicago Booth Alumni were also part of the 12th Global MBA Trophy. Although the school ranked second to last in the competition, the moment captures the can-do spirit of the Alumni. Instead of writing about the one event, focus instead on the school’s MBA alumni.
Booth Alumni has one of the widest geographical reaches with 49,000 alumni spread across 115 countries. Booth Alumni also found their mark in Govt. – Former Governor of New Jersey, Secretary of Financial Services and the Treasury for Hong Kong, City Administrative Officers and other esteemed public service officers around the world.
In the non-profit sector, Booth Alumni have used their Management skills to widen the reach and improve the effectiveness of the American Red Cross, Doctors of the World, the Asian Development Bank, Corporation for Public Broadcasting and Great Lakes Protection Fund.
All these achievements mean nothing if students could not reach out to the Alumni for opportunities. Fortunately, 39.8% of full-time job offers were the result of the relationship between students and Employers...
If you want specific examples of what makes Booth faculty different from other school faculties, who are mostly academicians with limited tenure in high profile roles, cite the examples of Raghuram Rajan, Luigi Zingales, Richard Thaler and Nicholas Epley.
Rajan, a rock star professor from Booth, rose to fame by predicting the 2008 Financial meltdown with the paper
“Has Financial Development Made the World Riskier? “ in 2005.
At that time, the popular belief was that the Economy was going through a boom. According to Rajan’s paper, it is easy to grow the company in the short-term with higher risk, but incentivizing professionals to attain growth at any cost will lead to long-term losses. A better approach that Raghuram suggested was to set up risk-adjusted growth targets. The paper describes how short-term profit targets incentivize investment bankers to herd together with the competition and employ similar strategies. What it does is that the difference in investment returns would...
Jan 27th 2015: It seems February 4th have become a crucial date for Interview Invitations. Chicago Booth Admission team have shared that they have started sending interview invitations this week (last week of Jan 2015) on a rolling basis with all the decisions scheduled to be released by Feb 4th 2015. Booth team has set two options for interviews:
On-Campus Interviews will be held from Feb 10 to Mar 6 at the Harper Center in Hyde Park. On Feb 21, Interviews will take place on Booth 455, across the downtown campus at the Gleacher Center. 2nd year admission fellows will conduct the on-campus interviews. Candidates are recommended to visit the campus, interact with current students, talk to an admission director and sit through a class as part of the interview process.
Off-Campus Interviews are scheduled locally and internationally across five cities: New York City (February 21), Washington, D.C. (February 28), San Francisco (March 7), London (March 7) and Hong Kong (Mar 7 and Mar 8). Alumni, and Admission team will lead the interviews here. Details about location and scheduling will be...
Chicago Booth Waitlist Guidelines for the Class of 2016 MBA program have been published.
1) Application of Round 1 Waitlisted applicants will be reviewed along with Round 2 applicants
2) Final decisions will be released on March 27.
3) Those who are not accepted or rejected by March 27 will continue to be in waitlist, and their application again considered for Round 3.
4) Applicants will have the choice to accept or reject the invitation.
5) Submit supplemental material only if you have enhanced your profile after the submitting your application
6) Booth offers the option to record a short video, describing why you are a good fit for the MBA program. Updates are optional.
7) Send all your submission before February 21st , 2014. (Details provided in the online application).
Recently, @Booth_Insider conducted a twitter session to answer general queries about Chicago Booth MBA Admissions. We have compiled answers to some of the common queries asked by Booth MBA Applicants.
What makes Booth MBA Unique?
According to the AdCom, Booth’s flexible curriculum, students and well renowned faculty makes the program unique.
Does the AdCom recommend campus visit?
Although the AdCom understands that not all applicants can visit the campus, on-campus visits offer the opportunity to experience the campus and interact with faculty and Admissions team. The team recommends interacting with Alumni and current students.
Does Booth MBA Accept GRE Score?
The AdCom gives equal priority to GMAT and GRE, therefore submission of one of the scores is enough for the application.
Multiple GMAT Scores - Which Score is considered?
For Booth MBA Applicants who have taken the GMAT multiple times, the AdCom looks at the highest GMAT Score for the application.
The University of Chicago Booth School of Business and The Wharton School of the University of Pennsylvania offer world’s best MBA programs. Let us compare the programs based on 9 factors: Location, Ranking, Cost, Class Profile, Curriculum, Experiential Learning, International Learning Opportunities, Post-MBA Opportunities, and Alumni Network.
Booth is located in Chicago, the third largest city in the US and home to 29 Fortune 500 companies, Federal Reserve Bank, and five major financial exchanges - Chicago Stock Exchange (CHX), the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the NYSE Arca. The City is one of the most diversified economies in US with contribution from a wide range of sectors that include Finance, Manufacturing, IT, and Health Care. Chicago is known as the global center for derivatives trading. It is also known for sustainability, hosting 23 leading Clean Tech and Wind Energy Companies.
Wharton's main campus is located in Philadelphia, the second largest city in US East Coast. The city is known for healthcare and biotechnology, financial services, media,...
If you have missed the first part of the series, Read Booth vs Wharton MBA: Location, Ranking, Duration, Cost, Class Profile and Curriculum.
6) Experiential Learning
Learning by doing is an approach that some of the top Business Schools have adopted. Booth and Wharton have implemented them through Exchange Programs, Summer Projects, Student Club Projects, and Labs.
At Wharton, the Experiential Learning is focused on leadership development rather than individual functions. Booth on the other hand looks at experiential learning at Functional level with Lab Courses in Management, New Venture, Private Equity, Social Entrepreneurship, and Clean Tech. Both Wharton and Booth offer experiential learning opportunities through Elective Courses. Marketing Research and Consumer Behavior are two courses that involve Experiential learning at Booth.
Chicago Booth provides experiential learning through Lab Courses. The Management lab, in addition to offering opportunities in developing strategic thinking,...
When the MBA Application Essay Questions are filled with the “Why MBA” and “Why our Business School” questions in a written format, and Interviews restricted to the standard format, there were some Business Schools that have tried to be innovative.
1) Tippie Twitter Essay – Pulling the Plug too soon?
When Tippie School of Management retired the Twitter Essay, it was not because of poor response. In fact, when the pilot was run the responses were overwhelming and this led the AdCom to make the Twitter Essay a formal part of the application.
So what went wrong?
Innovation by definition “is the use of novel ideas or methods for better results” and Tippie AdCom was innovative in their approach.
The culprit was the instruction in the question.
Here is the excerpt of the 2011 Application...
If you have missed the first part of the Series - Top 4 MBA in Accounting, Click Here to Read: Top 4 MBA in Accounting: MBA vs Masters, Career Options, Job Responsibilities & Titles
2) University of Texas--Austin (McCombs)
The McCombs School of Business offers a Full-time MBA program with a concentration in Accounting. The concentration is offered by the renowned McCombs Department of Accounting. The program covers in details: Corporate financial reporting, making and analyzing corporate financial statements and financial reporting. It has 2 areas of focus - Investment Banking and Corporations.
The core curriculum is the same as that of the general MBA program, covering Financial Accounting, Financial Management, Statistics, Marketing Management, Operations Management, Managerial Economics and Strategic Management. The flexible core has the option of a Responsibility and Integrity Requirement. The subjects offered as part of the concentration include Financial Accounting Standards and Analysis, Strategic Controls, Advanced...
CommonBond, has recently announced that it will disburse $2.5 million in student loans at Wharton, benefiting as many as 50 students. What makes this significant is that the loans are funded by Wharton alumni itself. CommonBond is a startup founded by Wharton Alumni. They oversee the disbursal process. At the heart of CommonBond's effort is a philanthropic quest - a positive social change. A case in point is that for every fully-funded degree, the company will sponsor a child's education, for a year in partnership with the African School for Excellence.
The news is a boost to the nascent alumni-sourced loan industry, which seeks to ease the difficulties faced by MBA students looking for loans. Students do not have to put up with the intense scrutiny and paperwork, which they must go through otherwise. And even more significantly, the interest rates are just 6.24%, lower than the lowest Federal loan rate of 6.8%. Private loan rates go even higher, averaging around 12%. Alumni who contribute to the loan pools get returns of above 4.25% - profits with a cause attached. What's more, the risk factors are very low. The 10-year cumulative loss rate estimated for the Wharton loan pool is around 0.70%.
When it comes to picking the best Business School with focus on Finance - Chicago Booth, NYU Stern and Columbia have usually featured in most lists. Today, we compare Booth against Stern and see how their stats stack up.
Booth is located in Chicago, the third largest city in the US and home to Federal Reserve Bank, five major financial exchanges - Chicago Stock Exchange (CHX), the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the NYSE Arca. The city has 30+ Fortune 500 companies and almost 100 corporate headquarters. In terms of business and finance, Chicago is second to just one city in the US - New York.
New York is the world's #1 financial and trade hub. It has 45+ Fortune 500 company headquarters, and 500+ other company headquarters. Stern Alumni have the highest concentration in New York and they occupy some of the best companies in the city.
NYU Stern is located in Greenwich Village, which is just beside New York's financial district of Manhattan. This provides access to some of the world's top companies and stock exchanges. The school is not insulated from the city's hustle, and lack of space, which...
Chicago Booth’s Part-time MBA program stands out for its international focus. Called the International MBA Degree (IMBA), it supplements the typical Booth MBA with five international business courses and one term abroad. It also requires students to obtain proficiency in a language other than English.
• An identical curriculum to that of the full-time program, which has been consistently ranked among the top 10 MBA programs.
• Flexibility of weekend and weekday options
• Can complete the course in 2.5 to 5 years.
• Access a worldwide alumni network of 45,000 across 116 countries.
• Students from one stream can take classes in the other, and can even attend Full-time MBA courses.
• Can choose from 14 concentrations.
• The weekend program has an airport shuttle service and discounted rates at hotels.
• Access to all campus facilities as well as the 205 top-notch faculty
• Can take part in the campus recruitment process with Full-time students
The Core curriculum in Booth Part Time MBA program is identical to that of the Full-time MBA program. The program offers a wide choice of electives with a choice of 14 concentrations. Among them are Analytic Management, Econometrics & Statistics,...
This is the second part of the series – Best Part Time MBA programs. If you have missed the first part, read Best Part Time MBA Programs - Part 1 (Kellogg & NYU Stern)
3) University of Chicago (Booth)
Booth offers working professionals a flexible, Part-time MBA program that has a unique international edge. The International MBA Degree (IMBA) adds onto the typical Booth MBA, with five international business courses, one term studied in a foreign country, and proficiency in a language other than English. The International Business Exchange Program (IBEP) allows students to study one academic quarter at one of 21 countries, chosen from 33 partner schools.
Course Duration: The course can be completed in 2.5 – 5 years, and has two schedule options, weekend and weekday. Students from one stream can take classes in the other, and can even attend Full-time MBA courses....