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Common MBA Application Mistakes - Finance Professionals (Part 2)


Categories : MBA Application

By Caryn Altman
Former Admissions Officer, Kellogg School of Management
Senior Consultant, Stacy Blackman Consulting

10 Common MBA Application Mistakes made by Finance Professionals
(Mistakes 4-7)

As an MBA applicant with a background in finance, you’re no doubt wondering how to stand out from your equally impressive peers. No matter how remarkable your pedigree, the truth is that no business school wants a class filled with individuals from only one particular background.  

As we pointed out last month in the first part of the Top 10 list of common MBA application mistakes,
there’s a right way and a wrong way to attract the admission committee’s attention.

Let’s dive deeper into what finance professionals should avoid, and what makes for a successful MBA application.

Mistake #4:Failing to leverage your interests outside of work

While most of your peers will have similar work examples, you are the only one with your...


Common MBA Application Mistakes made by Finance Professionals (Part 1)


Categories : MBA Application

Finance Professional MBA ApplicationBy Caryn Altman
Former Admissions Officer, Kellogg School of Management
Senior Consultant, Stacy Blackman Consulting

This is the first part of a three-part series: Common MBA Application Mistakes made by Finance Professionals


Surprised to hear that MBA applicants from finance make up the largest percentage of the incoming classes at many of the top business schools?

I didn’t think so.

Several firms require the MBA for top-level positions, and finance industries feed heavily into the most competitive programs. At the University of Chicago Booth School of Business, for example, 45% of the Class of 2018 has previously worked in finance, followed by 36% of the entering class at University of Pennsylvania’s Wharton School, and 27% at Stanford Graduate School of Business.

While other applicants will have to work hard to demonstrate that they can handle classes such as finance, accounting, and statistics, if you hail from finance, this box...


How much Jargon is Allowed for MBA Applicants from IT Background?



Advice for IT Applicants MBA AdmissionsQ) How should candidates from Information Technology background approach MBA Application Essays, when the word limit is 500 words. Most “What I did”, require offering some context. How much jargon is allowed? How evenly should the technologist cover the “How,” “Why,” “What” aspect of the project for the Essay?

Stacy Blackman: We often field questions from clients working in Information Technology about how best to frame their work experiences within a 500-word MBA application essay, especially since the technologist often believes it necessary to provide meaningful context when describing the “What I did” aspect of the essay question.  
The truth is, business schools don’t really care whether you can code in Java or possess multiple certifications in Oracle, Linux, or Cloud+. The admissions committee doesn’t even need to know those aspects when reading about your technical projects, and getting bogged down in such details is the number one mistake that engineers applying to business school often make.

When describing a technical project, try to sum up the essence of the project in a non-technical way in one to two sentences.  Share your...


Too old for an MBA?


Categories : MBA, Too old

MBA Too OldF1GMAT: Stacy, you have written about this topic in 2005 but to refresh our memory, what advice would you give an MBA candidate who is much older than the average class? What are some of the points that the candidate should keep in mind while writing an essay? Which age group has the least probability of getting into a premier Business School?
 
Stacy Blackman:  Bottom line, it can be challenging for an “older” applicant to be admitted into a top business school.  In the MBA world, older means over 30.  Is this some sort of arbitrary age discrimination?  Not really.  Business schools want to admit people who will legitimately benefit from the experience, who will do well in recruiting and who show potential to succeed.  It can be difficult to meet these criteria when you are older than the average student.

Let’s examine all of these issues more closely.

...


MBA Admissions - Importance of Extracurriculars and Community Service


Categories : Community Service


Q) I've read that extra-curricular activities (ie. leadership via community involvement) is an important part of the assessment. As a consultant/auditor I have little time for activities outside of work, however I have good leadership experience of many teams in the work environment. Could you comment about the weight placed on community involvement in the application process? – Jay


Stacy Blackman:


Hi Jay,

Community involvement is very important to the application process because MBA programs pride themselves in training future leaders, not just educating a bunch of people who know how to calculate an IRR. They look for individuals who are concerned about doing great work and improving the world around them.

Although some younger candidates feel that even though they have not prioritized “extracurricular” activities early in their careers, they will definitely focus on these activities once they are more established. However, typically the patterns we establish toward community activities early in our careers remain...


Tips for MBA Waitlisted candidates


Categories : MBA Waitlist

F1GMAT: What are some of the best practices that an MBA candidate should follow if they are waitlisted? Some experts advice to follow up regularly and others advice to be cautious with follow ups. What is your advice on follow-up frequency?

Stacy: Business schools are busy assessing files and making decisions.  Yes, it’s that time of year again…some good news, some bad news and some in between.  When you receive a waitlist notification, you are not quite sure how to feel. It is not an acceptance…and yet there is still hope. You are in agony - the waiting continues.

The first thing to do when you are waitlisted is congratulate yourself. While it probably is not the answer that you were hoping for, you should know that far more people are denied admission than placed on the waitlist. If you are waitlisted, you are still in the running, and your application has passed an important hurdle. The waitlist has a lot of unknowns associated with it, even for the admissions committees. Until they know how many applicants will accept their invitations and until they start to understand the makeup of the class, they really do not know how many people will be admitted from the waitlist and who those people...


How to handle 400 Word Limit in HBS Essay 2012-13?



800 words in Total —let’s discuss the fact that you will need to be very, very economical in your use of these words.

1) Map out all of the things that HBS needs to know about you and then figure out how those stories can be told through other parts of the application.

2) Don’t even think about regurgitating the career path that is already present on the resume or the awards or titles that were entered through the data form. Your “top performer” story from work might be something that a supervisor can discuss in a letter of recommendation. When a colleague from the YMCA Young Leadership Board writes a letter on your behalf, that also might eliminate the need for an essay about your performance and innovation in that role.

3) You might need to be more strategic in selecting and guiding recommenders in order to make sure that the right stories are told.    

So after you have figured out ways that your resume, transcript and recommendations actually say what needs to be said, you can work with them to hone in on a handful of topics that reveal even more about you and help convey a thoughtful personal brand. So let’s look at those essay questions:

...


Harvard MBA Essays - Rumors and Truth



First, I would like to clear up some rumors regarding the new HBS MBA Application Essay for the 2012-2013 season:

1) Rumor #1:  HBS no longer values leadership. What? This new process is the ultimate test in leadership by seeing if applicants can keep calm, think clearly, and be both decisive and strategic under pressure.  The interview and the follow-up essay are also clever tests of leadership. If you do not have the endurance to write an essay after their interview—and if you cannot make savvy decisions about the content of that essay—perhaps you do not have what it takes to go to HBS.

2) Rumor #2: HBS is no longer asking “why HBS?”.  Here is a piece of news: they never asked that question. Lots of people wanted to answer that question, but that was a mistake because really, the HBS admissions committee already knows why applicants want to go to HBS.

3) Rumor #3: HBS no longer cares about an applicant’s career plan. I don’t understand why this has surfaced as an interpretation of the new application. HBS wants to hear whatever a candidate want to tell them. If your career plans are meaningful and important to you, and if they provide insight into an important aspect of your motivations and personality, then by all means those...


Harvard MBA Essay Tips- Class 2015 (Entering 2013)



As you approach the HBS application you will need to think about more than just the essay questions – make sure your resume is a compelling view of your career path, your recommenders are providing specific examples of your management potential and leadership qualities, and approach the two essay questions as opportunities to showcase who you are and what motivates you. The final essay, written in 24 hours after your interview, should fit in holistically with the rest of your application. A thorough self assessment of your strengths and weaknesses will be an asset as you approach this essay set.

The limited word count for Harvard Business School essays forces applicants to be focused and concise. When you answer a question, think about a discrete example that can be efficiently described, leaving you room to discuss lessons learned.

Harvard Business School is interested in knowing how you work as a person, how you think, and what kind of leader you are. Community involvement and a broad international perspective are certainly valued, as you can see by the topics. Most importantly, specific and concise examples are the best way to demonstrate who you are. Without specifics, a claim to be a leader is...


Keeping a Notebook - Useful for MBA Application Essay Writing


Categories : MBA Application

Stacy Blackman: Keeping a notebook on events, people and things that inspired you will give you insights on who you are as a human being. This exercise will help you with your MBA Application




...

GMAT 760/5 Yrs Exp/Company Low Brand Value - What are my chances?


Categories : MBA Admission Tips, Q&A

Regarding your career, remember that for MBA Admissions the work that you did is more important than the company that you worked for.

Q) I am a 26 years old Indian national , done Bachelors in Technology with 60% marks from a tier-2 school in India and Post-graduation(marketing & operation) from Symbiosis college(distance education) with 70 % marks. I am working as an import manager in a Steel Plant - Uganda(East Africa) for the last 5 years. The company I work for is not a well known brand. My job profile in this company is to procure the necessary raw materials for the plant from different parts of world. I deal with suppliers from almost 10 countries. Additional I know multiple languages- Hindi, English, French and Spanish. I have given GMAT and scored 760. What are my chances to get top business school like LBS/HBS. Will my low scores in grad school and the brand value of the company I work for affect my admission?

Stacy Blackman: I hope the following is of help. Regarding your low undergraduate record, I recommend you read the following case study of a candidate who had a low GPA and was accepted into several top programs. It should give some insight into how you can address your grades.

CASE...


Low Academic/Project Coordinator(8 Years) - What are my chances?


Categories : Q&A

If you received low marks in important quantitative subjects, you can take classes now and perform well to prove your abilities.  Calculus is the most important class.  After that I would suggest Accounting and Statistics.

Q) I am from India. I have average academic score in schooling and in graduation. (59.2%). I am worried about my low academic performance. I would like to know whether this will create difficulties in getting admission to top Canadian and US universities. How I can compensate this. I have 8 years of experience in project Management, now working as a senior project coordinator. What needs to be done to get admission?

Stacy Blackman: Yes, a low GPA can make it more challenging to gain admission to a top school.  Here are some things that you can do to mitigate this risk:

1) How did you perform in quantitative subjects specifically?  If you received low marks in important quantitative subjects, you can take classes now and perform well to prove your abilities.  Calculus is the most important class. ...


Importance of Extra-Curriculars - MBA Application


Categories : MBA Application

Q) I've read that extra-curricular activities (ie. leadership via community involvement) is an important part of the assessment. As a consultant/auditor I have little time for activities outside of work, however I have good leadership experience of many teams in the work environment. Could you comment about the weight placed on community involvement in the application process?

Stacy Blackman: MBA programs pride themselves in training future leaders, and not just in educating individuals on how to understand business jargon. They look for individuals who are interested in making an impact and in improving the world around them. Some younger adults feel that even though they have not prioritized “extracurricular” activities early in their careers, they will focus on these sorts of activities once they are further in their careers. However, what tends to occur is that the patterns we establish toward community activities early in our lives remain fairly steady. If you feel that your involvement to outside causes does not reflect the balance you want to establish in your life, we recommend you start now and get involved.

If you haven’t been participating in outside activities, look up a few opportunities on the internet and get involved next weekend. It really can...


How to do Business School Research without using Ranking Data?



"You can successfully research MBA programs by using the following characteristics: Program format, Academic offerings, Faculty, Initiatives, Field studies, Cross-registration opportunities and Clubs"

Each one of my clients asks me this question as they begin to write the “Why Business School?” essay that most MBA programs require.

First, and most importantly, you need to know enough about these MBA programs to know if you should apply. You should not rely solely on USA Today rankings to decide for you. A lot of people do not consider this fact: you are the customer! Business schools are revising their programs, creating brochures, and traveling from state to state to convince you—the prospective candidate—to consider their programs. Each MBA application will cost a few hundred dollars and countless hours, so make sure the business schools have most of the parts you want from a school.

In addition to what you should include in your business school essays. I tend to read first drafts that include the “top notch student body, world-class faculty, and committed alumni network” as the reasons this particular candidate has chosen a certain MBA program. This person has not said anything. You need to be specific in demonstrating that you’ve taken time out to research the...


Interview with Stacy Blackman - President of Stacy Blackman Consulting


Categories : Women MBA

Stacy Blackman1.Tell us a little bit about yourself
I have a BS from Wharton and an MBA from Kellogg.  I am fascinated by the power of marketing.  I love writing, coaching others and I am a big believer in the MBA degree.  It took me a while to put all of these pieces together, but once I did , I found my perfect career.  MBA Admissions Consulting has been incredibly inspiring, exciting and rewarding.  I love helping people fulfill their dreams and advance in life, and have shown that I am quite good at it!

My company has now assisted thousands of people, published 15+ e-books, hosted scholarships, presented to groups around the world, and published a popular blog since 2005.  I am thrilled to have been able to positively impacted so many people as they pursue very ambitious goals.

2. What were some of your observation and takeaways when you assisted the admissions committees at Kellogg Graduate School of Management and Wharton School...

Hope Alone does not make dreams
Come True. Get Help from the BEST.




Top 31 MBA Programs + Analysis of 24 Industries (United States)


We analyze the MBA Curriculum, Class Profile, Total Cost and Post-MBA Salary of Top 31 MBA programs in the US.

+ Industry Trends

+ Future of Aerospace, Agriculture, Artificial Intelligence (AI), Automobile, Clean Tech, Education, Energy, Fashion, Financial Services, Insurance, FinTech, Government, Healthcare, Life Sciences, Military, Manufacturing, Maritime, Media/Advertising, Technology, Tourism, Trade, Transportation and Logistics, Virtual Reality (VR), and Augmented Reality (AR).


Pages: 327

Reviews

"I have not reviewed many books for MBA Admission consulting companies but doing it now to give all applicants a brief idea on what the book covers. The book includes 31 top MBA programs - almost all the top schools you have heard or considering for your MBA application. Each chapter is categorized by US States where there is at least one top MBA program. So you have California and Massachusetts with the most number of MBA programs and several states with one top program (Washington, Minnesota, Washington D.C., Connecticut, Virginia, and Maryland) and other states with two to three MBA programs. The book focuses on four aspects of an MBA program - curriculum, cost, class profile and post-MBA salary. For me, the breakdown of the cost and post-MBA industry was useful to make my decision on selecting the top 5 programs for 2017-18. It is a fascinating read in an industry where consultants overprice for their expertise. I recently bought a 30-page guide for $49. Compared to the obvious observation in that book, the 300+ page, MBA in US - the Ultimate guide is a goldmine of information and analysis." - Verified Purchase (21st June 2017)

"I bought the ultimate guide after a friend recommended it for me. The guide covers a lot of ground on the history of each prominent US states and goes into the reasons why a certain industry emerged from each state. In addition to the analysis of the economy, trends and expected changes in the next 5 years, the book features top MBA programs in each state with an extensive study of its curriculum. Ultimate guide is an essential reference book for MBA Applicants if they want to shortlist MBA programs based on value and cost, and not just ranking. " - Verified Purchase (14th June 2017)

"Should be a required reading before applying for an MBA. School events and MBA Tours are PR events disguised as a Q&A. On the contrary, the book is an unbiased analysis of each Top MBA program in the US supported by a large dataset and historical context on each industry. The guide builds a case for indstries that are likely to emerge as favourite for MBA graduates. Thorough and a valuable book." - Verified Purchase (15th June 2017)

"What I liked: The breadth of the information. Some of my favorite nonfiction books have taken the same approach as the ultimate guide have - cover background information in-depth. In the book, the author uses parallel threads to demonstrate the history of the state and the rise of industries. Will make you think how schools thrive based on the policy set by the state. California's obsession with Technology has revolutionized how we do Business and changed post-MBA trends. Many MBA applicants will be consulting or doing marketing for a Technology company. That is one key finding from the book. The latest development in AI, FinTech, and Automation is an additional context that I found valuable in the book.

Very informative. I would recommend that you read the book at least once in chronological order before using Table of Contents." - Verified Purchase (2nd July 2017)

Download How to Choose the Best MBA in US: The Ultimate Guide
(2018 Entering Class)

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