I wanted to be an astronaut when I was in 2nd grade, a writer in 3rd grade, a medical doctor in 7th grade and a businessman when I was 25. Only two dreams became a reality. When you compare the difficulty of achieving each goal, astronaut was a little far-fetched. Starting your own Business, becoming a writer, or dedicating 7-10 years for being a Doctor was difficult but achievable. So why do career experts keep repeating the mantra “Follow your heart”?.
What they really mean is “Follow your heart but figure out your real strengths”. Our heart’s desires are many and the career paths after an MBA diverse. If you follow ‘Expert’ advice, you will be miserable after 2-3 years. Resentment of investing $1,75,000 and 1-2 years on an MBA won’t die down even if you get a high-paying job. The question of “What if” I had taken “that” career path will haunt you. If you define your MBA career paths by Employment report then you are limited by the job functions and industries.
Avoid Herd Mentality
Don’t discard the trends in Employment but don’t either define your career based on top MBA programs. You might be a wine connoisseur and know the inside out on the economics...
We had written about top MBA in Italy but MBA applicants planning to complete their MBA from Italy have requested us to compare SDA Bocconi with MIP Milano. In this first part of the Bocconi vs MIP MBA series; we will look at three key comparative factors: course structure, exchange programs, & ranking. In the second part, we will look at post-MBA statistics and class profile.
MIP Milan International MBA is a 14-Month Full-time MBA program with 11-month of classroom and 3-month of project experience. The program commences in May and concludes in June, the following year. A day in the classroom is divided into two three-hour sessions – one in the morning and the other in the afternoon. Although there is no scheduled daily after-class time, students are required to stay back for the speaker series or activities according to the curriculum.
Bocconi, on the other hand, is a 15-month Full-time MBA program with classes starting in October and concluding in December, the following year. A typical day in the classroom is divided into three hours in the morning and six hours in the evening. The 4.5...
Tuck MBA students have retained the median salary at $115,000 with the lowest salary dropping further by $9,000 at $56,000 compared to last year’s trend and highest salary reaching $175,000 a jump of $6,000. What most MBA applicants have asked us about the trends in Tuck MBA Employment report is the demand for Finance and Consulting jobs.
Job by Industry
30% of the job offers are in Financial Services, the majority of which are in Investment banking (14%) and a distant 2nd and 3rd are in Investment Management (7%) and Private Equity (2%). Incidentally, the lowest paying industry is Investment Banking with the low at $56,000 and the high at $130,000. 27% of Tuck MBAs looking for employment opted for consulting with the median salary at a healthy $135,000, the highs reaching $140,000 and the lows at a respectable $86,000. Technology and Consumer Goods/Retail were the third and fourth popular industries with 13% and 10% opting for them.
Job By Function
As expected 35% of the MBAs opted for consulting roles that paid a median salary of $132,500. The high...
Suzy Welch, Business Writer, for BusinessWeek has popularized the 10-10-10 rule. According to the rule, before making any tough decisions, ask three questions: How would you feel after 10 minutes, How would you feel after 10 months, and How would you feel after 10 years. We would like to modify the rule, by a touch, and apply it while selecting MBA programs: MIT vs Stanford, Wharton vs Harvard, Kellogg vs Booth, LBS vs Insead, IE vs IESE, and other close ones.
The 10 Minute impact of the rule seems a little stretched unless they are decisions like proposing to your partner, saying yes to non-refundable products, and other decisions where backtracking is not encouraged, or consequences are catastrophic. Although selecting MBA programs is a 1 month to 3-month process, the decision should be reviewed and changed if...
Most of us are optimists or ‘dutiful’ pessimists when it comes to decision making. It is no different when we are selecting MBA programs. We don’t have to deal in the extremes but take a middle of the path thinking when it comes to decision making. Chip and Dan Heath in their extremely popular book – Decisive: How to make better choices in life & work, have shared how Byron Penstock, an investment analyst, uses bookending to make optimum investment decisions.
How Bookending Works
For an investor, the timing of a purchase is one factor that would decide between a profit and loss. No matter how strong the fundamentals are if you invest in good stocks at the wrong time, you are likely to get marginal returns or in most high beta stocks, a probable loss. In “bookending”, investors consider two scenarios – best and worst.
In the best-case scenario, the investor considers all favorable factors – large deal flows, positive environment for future deals, and change in market demands that would be beneficial for the company. Based on the expectation that all factors would be...
There are plenty of reliable sources covering Business School comparison, Interview with Admission Officers, Interview with Alumni & Current Students, and Business School ranking. What MBA aspirants must develop is a process of questioning that would help them with decision making.
Socratic Method of questioning and dialogue might be useful in classroom discussions, and interactions with Alumni & Current students. But use it with care as a pretense of intellectual superiority can quickly discourage Alumni from opening up.
The process that we recommend is useful after you have collected all relevant information about Business Schools, and MBA programs. It follows 3-step:
1) Question Assumption
As we collect information, and interact with Alumni & Current...
Sleep Deprivation is an increasingly common phenomenon for a professional in 21st Century. With a 24x7 connected world, the constant communication and pressure of work creates a situation where an average sleep is limited to 6 hours, 2 hours short of an ideal sleep cycle. Short-term sleep deprivation will impair your decision-making, especially selecting top MBA programs that require shortlisting a large list of schools, revising the list, and finally picking the top five.
A feeling of Optimism is essential for putting the hard work necessary to pursue a goal. But a recent study by two neuroscientists at Duke University Medical Schools have shown that Sleep Deprivation can lead to the activation of brain regions that analyze positive outcomes, and suppresses the part that process negative outcomes. This leads to a situation where the individual is more likely to make choices that maximize financial gain, in our case, picking MBA programs offering higher ROI without analyzing multiple factors that influence the return. Effective decision-making involves utilizing attention, memory, and responding to an integrative feedback mechanism; all of which get impaired in a...
When Business School & MBA research start, aspirants will analyze the curriculum, and evaluate the effectiveness of the program to fulfill their post-MBA goals. Customizing the learning experience through electives, and experiential learning often happens during the second half of the program. With $80,000 to $120,000 investment in an MBA every year, it is important to understand how much control the student has in customizing the curriculum.
Before writing about post-BA goals, aspirants should evaluate their skills in an unbiased manner. After that, a career plan is developed aligning the aspirant’s personality traits & future contribution with post-MBA goals. Once aspirants have a clear career path they should evaluate the curriculum, and look closely at the course structure. Most MBA programs will offer the Foundational courses in management during the first 6-months....
I can understand how a current student praises the MBA program through student blogs, social media, and other interactions. However, a recent trend that I have seen in some message boards is the die-hard fandom of MBA aspirants. Most of them have just finished their GMAT, and have decided to apply to an MBA program. But they are already big fans of some MBA programs!
Fandom is not a disease but it is irrational. When you are making $150,000 to $200,000 decisions, last thing that should influence you are irrational thoughts. If you have gone through student blogs, 90% of them will be about the ‘awesome experience’, ‘the amazing professors’, and ‘the great opportunity’ that lie ahead for all MBAs. Some message boards are filled with a few sour grapes who bash the Business School on every given opportunity, just because they did not fully understand the value of the MBA program, and overestimated the return on investment.
The truth is somewhere in the middle.
Talk to the Alumni
While I was shortlisting Business Schools, my decision - not to pursue an MBA, and instead start F1GMAT was influenced...
Our innate curiosity has made us a species that is dominant over all the animals. The “Why”, “When”, “What”, “Where”, and “How” questioning is useful not only for our daily lives but extremely useful for MBA Admissions. Each stage of the admission process requires us to ‘ask questions’.
Evaluating Business School Ranking
Business School ranking is one data that MBA applicants look closely before picking their top 5 schools. Unfortunately, applicants tend to switch off their curiosity when it comes to published ranking from leading news sources without questioning the data collection methodology, ranking criteria, and response rate.
One data that applicants have always assumed to be valid and thorough is the response rate. Most surveys get anywhere between 20-30% responses from the entire alumni pool. This is much worse than the average voter turnout in leading democracies – United States (48%) and India (58%). Citizens in these countries are vocal about the apathetic state of the election process, and quality of candidates. However, when it comes to a $75,000 to $200,000 decision, our...
2013 MBA Recruiters Survey conducted early in the year had shown indications that the job openings in 2013 are slowly matching the Pre-2008 levels. This has been confirmed with the B-School Follow-up Survey conducted in September 2013. This survey was conducted for the Class of 2013 by surveying 915 students from 129 Business School around the world.
Here are the Key Findings
1) Small Dip in Employment: 90% of the Alumni was employed, a drop of 2% from 2012(92%)
2) Value of MBA: 74% of the Class of 2013 felt that Graduate Management Education helped them find the opportunities. 26% felt that they would have received the same opportunities without an MBA.
3) Rise of 2-Year Full-time MBA: 92% Full-time MBA students surveyed were employed (highest level in the past 5 years, a 2% increase from 2012)
4) Drop for 1-Year Full-time MBA: 82% International MBA students surveyed were employed (drop of 7% from 2012)
5) Drop in Employment Rate for Masters Students: 76% Masters Students (non-MBA) were employed, a drop of 8%.
F1GMAT: What are curriculum changes that we have seen in 2013. Will there be more changes in 2014?
RSM MBA Director of Marketing and Admissions, Maryke Luijendijk-Steenkamp reveals some interesting changes in RSM MBA Curriculum in the coming year.
Listen to Maryke's reply.
Length: 2 Minutes and 46 Seconds
• Research International Projects include more options
• New Study Trip to China
• Personalize Learning
• Alumni Mentorship Program
• Internship Optional
Learn more about RSM International MBA
F1GMAT: What are the visa rules for MBA Students in Netherlands?
RSM MBA Director of Marketing and Admissions, Maryke Luijendijk-Steenkamp explains the unique visa rules available only to MBA students in Netherlands.
Listen to Maryke's reply.
Length: 2 Minutes and 24 Seconds
• Search Visa for 1-Year after the MBA Program
• Weigh in different options before accepting a Job offer
Learn more about RSM International MBA
F1GMAT: Do International RSM MBA students face any language barriers while searching for a job in Netherlands and Europe?
RSM MBA Director of Marketing and Admissions, Maryke Luijendijk-Steenkamp explains the class composition of the MBA Class and the job trends seen in recent years.
Listen to Maryke's reply.
Length: 2 Minutes and 56 Seconds
• 3-5% RSM MBA Class are Dutch Nationals
• Recruiters have a clear idea of the Class profile
• Recruiters prefer students with International outlook
• Recruiting local or international student depends on the job function
• Most Dutch are bi-lingual and open to foreigners
NYU Stern MBA program is among the toughest programs to get admission into. This webinar answers some of the commonly asked questions about Stern MBA's entry criteria, overview of the MBA programs, NYU Stern's grading system. The webinar also deconstructs NYU MBA Application Essay questions and will give you an idea about your fit for the NYU Stern MBA programs.
The Webinar Covers the following topics:
1) What makes NYU Stern Unique
2) Notable characterstics of NYU Stern School of Business
3) The Stern Approach
4) Is Stern a Good Fit for you
5) Review of NYU Stern MBA Application Essay Questions
6) NYU Stern Admission Criteria
7) NYU Stern MBA Admission Deadlines
8) MBA Application Components