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BusinessWeek 2008 Rankings Are Out!

BusinessWeek released its much awaited biannual, full-time MBA rankings. The rankings showed slight movement: Columbia went from #10 in 06 to #7 in 08. Wharton went from #2 to #4. Kelley climbed from #18 to #15.

Frankly, don't pay too much attention to the absolute ranking or even slight movement. Take advantage of BW's rich, informative database and fantastic resources for applicants. Then choose what's important to you and do your own ranking.

Top 30 U.S. Programs
1 University of Chicago
2 Harvard University
3 Northwestern University (Kellogg)
4 University of Pennsylvania (Wharton)
5 University of Michigan (Ross)
6 Stanford University
7 Columbia University
8 Duke University (Fuqua)
9 MIT (Sloan)
10 UC Berkeley (Haas)
11 Cornell University (Johnson)
12 Dartmouth (Tuck)
13 NYU (Stern)
14 UCLA (Anderson)
15 Indiana University (Kelley)
16 University of Virginia (Darden)
17 UNC - Chapel Hill (Kenan-Flagler)
18 Southern Methodist (Cox)
19 Carnegie Mellon (Tepper)
20 University of Notre Dame (Mendoza)
21 Texas - Austin
22 Brigham Young (Marriott)
23 Emory University (Goizueta)
24 Yale University
25 University of Southern California (Marshall)
26 University of Maryland (Smith)
27 University of Washington (Foster)
28 Washington University (Olin)
29 Georgia Tech
30 Vanderbilt University (Owen)

Top 10 Non-U.S. MBA Programs
1 Queens University
2 IE Business School
3 INSEAD
4 Western Ontario (Ivey)
5 London Business School
6 ESADE
7 IMD
8 Toronto (Rotman)
9 IESE
10 Oxford (Saîd)

BW bases its rankings on employer and student surveys as well as school research output or "intellectual captial."  This year for the first time, in a nod to the economic crisis, it is also including a ranking based on ROI and years to recoup the MBA investment. Not surprisingly, European schools, which tend to be one-year programs, are at the top of the chart. More surprising: HBS ranks 50 out of 50 in this chart. I guess assumptions matter.

MBA Admissions: Discount on GMAT Prep

I would hope that all of you aiming for 2009 application submissions have completed your GMAT preparation, but "I know it ain't so." I also know, that now and early 2009 are a great time for GMAT preparation in advance of next fall's application season. And I did receive an email about Manhattan GMAT's upcoming Holiday Discount. It looks like a good deal, and I am sharing it with you below:

"We would like to share with you a special offer for the upcoming holiday season. We are pleased to provide a $200 discount on all 9-week GMAT prep courses beginning between November 1st and December 31st. This is our biggest discount of the year, so if you've been thinking about taking a class, now is the time to do it!

"To redeem your $200 discount on one of our remaining classes of the year, simply enter the code HDMG08 when registering online, or contact our Student Services team at 800-576-4628 to sign up over the phone. This offer is valid on any of our 9-week in-person or Live Online courses.(Please note that this offer cannot be applied to any special programs or combined with other promotions.) "

If you choose one-on-one tutoring, you may be better off with MGMAT's 10% discount for students referred by Accepted. Coupon code for that 10% discount is AACMG. But as stated above, the Holiday Discount and Accepted.com discount cannot be combined.

 

New MBA Admissions Resource

I recently stumbled across "100 Best MBA Admission Tips All in One List" While we can quibble about whether they are really the 100 best, there are a lot of great tips and resources listed here.

 

Upcoming MBA Admissions Events

We have a couple of very exciting events coming up at Accepted.com for MBA applicants.

• I would like to invite all 2009 Round 2 and Round 3 MBA applicants to sign up for the 2009 MBA Admissions Telethon on Wednesday November 19 at 1:00 PM – 3:00 PM PT/4:00 PM – 6:00 PM ET / 8:00 PM – 10:00 PM GMT.

  What is the MBA Admissions Telethon? Two hours when 8 MBA admissions experts will be available to answer your individual questions via telephone. Prior to calling in, you will receive a brief, 6-question questionnaire and submit it along with your resume to a designated email address. (No essays, please.) When you call in, your consultant will review the information you provide, and you will have 15 minutes to discuss with him or her your most pressing MBA admissions questions.

  Oh, by the way, the 2009 MBA Admission Telethon is free, but registration is required. You can learn more and sign up at 2009 MBA Admissions Telethon.

• Join us in a chat with Kellogg's Beth Flye, Assistant Dean and Director of Admissionsand Financial Aid; Jennifer Stoltz, Senior Associate Director of Admissions, and current Kellogg students. The chat will take place on Monday Nov. 10 at 10:00 AM PT/1:00 PM ET/6:00 PM GMT. The Kellogg representatives will answer your questions about Kellogg's admissions practices and its famed general management program. The chat will take place at Accepted.com's Chat Room

Chicago GSB Gets $300 Million Gift and New Name

The University of Chicago's Graduate School of Business announced today receipt of a gift valued at $300 million from alumnus David Booth '71. In appreciation, the university will rename the school The University of Chicago Booth School of Business.

In an interview,  Booth described the gift as "largely unrestricted." 

According to Chicago's press release:

"The school plans to use the money for several new initiatives, including aggressively attracting and retaining star faculty. Other uses being considered include developing new faculty groups in academic areas not normally associated with business schools, expanding existing research centers, and launching ambitious programs to better leverage the school’s intellectual capital.

"The gift may also be used to expand the school’s international presence beyond its existing campuses in London and Singapore."

Previously, the largest gift to a business schools was $105 million, given to Stanford GSB by Philip H. Knight in 2006.

 

MBA Graduates Face Tough Job Market

With layoffs on Wall Street and a contracting economy, MBA classes of 2009 are facing a very difficult hiring climate. Although many investment banks and other financial institutions are still recruiting, the number of financial institution has declined and some banks are only recruiting half the number of students they recruited last year. Students, recruiters, and school administrators alike have expressed concern regarding the tight job market.

“If I was a second-year student I wouldn't be too optimistic," said Dan Waters, who was recruiting at a job fair at Northwestern University's Kellogg Graduate School of Management. Kellogg Assistant Dean Roxanne Hori said, "It certainly favors the companies to be more selective, which they're going to be in this environment because everybody's being more conservative in their hiring targets."

Despite Wall Street’s predicted loss of 45,000 jobs, Chicago Graduate School of Business Assistant Dean, Stacey Kole still expressed some reserved optimism, "We’ve seen firms go away and the level of M & A activity is down. But there is still a lot of demand for these folks." Some Business School graduates have already accepted offers, while others have been told that they must postpone their start at work. Still others face fierce competition from both their peers and from those who graduated a few years ago and find themselves back on the job market due to layoffs.

First year student, Ngaio Palmer, summed up the situation, "Most will have a job offer by the time they graduate, but it may not be their preferred company and it may not be their preferred location. But at this point, beggars can't be choosers."

If you are thinking about applying to B-School after being laid-off, please click on the link.

 

Reminder: Wharton MBA Interview Chat

Reminder: Tomorrow Wednesday Nov. 5 at 10:00 AM PT/1:00 PM ET/ 6:00 PM GMT, Judith Hodara and other members of the Wharton family will be available to answer your questions about Wharton interviews specifically and Wharton admissions in general. Please join us in the Accepted chat room.

Notre Dame Mendoza 2009 MBA Application Questions, Deadlines, Tips.

Notre Dame Mendoza 2009 Deadlines

Deadline	Completed Application Received By:	Decisions Sent
Early	November 17, 2008	December 17, 2008
Priority	January 19, 2009	February 19, 2009
Third	March 16, 2009	April 16, 2009
Final 1	April 6, 2009	April 27, 2009
Final 2	May 11, 2009	June 1, 2009

 *Applications completed or received after March 16 will be considered on a space-available basis.

**Applications completed or received after April 6 will be considered on a space available basis.

***The May 11 deadline is for two-year applicants only and applicants will be evaluated on a space available basis.

Notre Dame Mendoza 2009 MBA Essay Questions

My comments are below in red. Since this year's application is identical to last year's, my comments are virtually identical as well.

Your responses to the essay questions are extremely important in the selection process. Please use separate sheets of paper for each essay question and include your name on each sheet. Your essays should be typed and double-spaced.

Each essay should be no longer than 2 double-spaced pages each.

Please complete the following essay.

What are your career plans immediately after graduation? Explain how your past experiences prepare you for your desired position. What are your long-term career aspirations?

Translation: What are you short-term and long-term goals? How have your past experiences prepared you for your short-term goal?

Note: This question does not ask "Why Notre Dame?" You do not need to explicitly answer that question, but the excellent response to this question will reflect Notre Dame's four dimensions of leadership: An integrated mind, broad perspective, heart (a guiding set of core values), and tenacity (the role of communication, motivation and mobilization). In addition, the long-term objective will be much more plausible if it grows organically from the short-term one.

_______________________________________________________________________

Additionally, please complete any two of the following five essay questions.

Choose the two that will allow you to best present yourself as a multi-dimensional human being who shares Notre Dame's focus on ethical general management.

1. Each MBA student at the University of Notre Dame is given the opportunity to contribute to the MBA community. What will you bring to Notre Dame and the MBA family?

Do your homework on Notre Dame. Where will you participate? Where will you contribute? Will it be student government? Professional clubs? Extra-curricular activities? Family activities? Your intended areas of activity should relate both to what you have done in the past and what you intend to do in the future.

2. What inspires you outside of your work environment?

What do you like to do when you are not at work? Do you participate in your church? Do you run? Belong to a band? Are you active in politics?

3. How do you define leadership? Please give an example of someone you feel is a great leader and explain why.

"Leadership" claims many definitions and sub-categories. Connect your definition to a great leader either current or past. Again, keep in mind Notre Dame's focus on integrated leadership and broad perspective guided by a strong sense of right and wrong when you are choosing your example and explaining why you believe he or she is a great leader.

If you can also volunteer a brief example of when you have provided leadership as you define it and as your "great leader" practiced it -- perhaps in your case on a more modest scale -- you wil be using this essay fully to advance the idea that you are a thoughtful leader who belongs at Mendoza.

4. Of which accomplishments are you most proud and why?

If your accomplishment shows the kind of leadership that Notre Dame is interested in, so much the better. If you demonstrate measurable impact, again, your essay and application will be that much stronger.

5. Describe a failure or disappointing experience in your life. How did you react and what did you learn?

Don't fudge on this question. Write about a real failure or disappointment. You can use this essay to bring out another side of you, perhaps a teamwork experience or something that happened a few years ago. Frankly, your response to the situation is probably the most important part of the question. Please see:

• Flaws Make Your Real
  

• Admissions Tip from Dr. Pausch's Last Lecture (Part2)

If you would like help with your Notre Dame MBA application, please consider Accepted.com's MBA essay editing and admissions consulting or one of our Notre Dame Medoza Comprehensive Packages.

(Don't forget to vote!) 

 

Personal Statement Tip: Choosing an Essay Topic

My assistant Deborah is helping me with a new ebook -- a compilation of Accepted Admissions Almanac tips from the last 3-4 years. She came upon "Personal Statement Tip: Topic Choice" and felt that I needed to be more specific.  I'm going to write this tip as an addendum to that one from two years ago. Besides, given the flood of deadlines in the next several months, now is a great time to discuss personal topic choice.

So what should you write about? What's most important to you and distinctive about you.

For all applications, the schools are attempting to get to know you through your essays. For general personal statements, like those law schools and colleges typically request, focus on past activities and achievements that reflect your values. The admissions readers also seek to uncover how you will contribute to their class, their program, and the diversity of their schools. By telling your story -- not what you think they want to hear and not what you share with 50% of other applicants -- you will reveal how you can uniquely add to their class.

For applications asking you to respond to specific questions and requesting statements of purpose, you first and foremost have to answer the question. If the essay is a statement of purpose, you need to discuss your post-degree goal and the way in which your studies will help you achieve it considering your previous education and experience. Again specifics are key. Which past accomplishments reveal the traits necessary to succeed both in gradate school and in your chosen field? Those experiences, clothed in analysis detailing their significance, should comprise your statement of purpose or goals essay.