Kellogg EMBA Program - GMAT Not Required!

Going forward the Northwestern University Kellogg School of Business Executive MBA program will not require a GMAT score to be submitted as part of the application.  The program is geared towards working professionals with little time to prepare for the GMAT exam (the EMBA requires a minimum of 8 years of work experience, and the average student has 12-15 years of work experience), and therefore Kellogg has decided that they will primarily evaluate candidates based on their career progress.

Harvard Professor Becomes Dean at Georgetown McDonough School of Business

David A. Thomas, professor and former associate dean at Harvard Business School will become the new dean of Georgetown University McDonough School of Business as of August 1st, 2011.  Thomas is a professor of Business Administration and directs Harvard's Organizational Behavior Unit; he was also a former professor at the Wharton School of Finance at the University of Pennsylvania.  Thomas holds undergraduate and graduate degrees from Yale and Columbia Universities, respectively.

Thomas is now the third high profile HBS professor to take over the top position at prominent business schools over the last several months, as professor John Quelch became the vice president and dean at China Europe International Business School (CEIBS) in Dec. 2010, and long-time HBS finance professor and social entrepreneur Peter Tufano became the dean at the University of Oxford, Said Business School in Nov. 2010.   

MBA Internship Hiring Has Increased in 2011

This article reports that many of the top business schools in the United States, including Northwestern (Kellogg), Cornell (Johnson), Carnegie Mellon (Tepper) and the University of Minnesota (Carlson) have showed a significant increase in hiring for MBA students who had internships in the summer of 2010.  Employers in the consulting, banking, consumer packaged goods and energy industries are driving this growth as they look to fill their talent needs.

Many MBA career services directors are cautiously optimistic about these positive figures, and note that many employers are waiting longer to extend offers and hiring interns year-round, instead of in the fall as was more common in the past.  MBA career services offices have also shifted their focus to instruct candidates how to best leverage their network to aggressively find internships, instead of waiting for employers to recruit on campus.    

Georgetown MBA - Finally!!!!

陳 冠甫 souloriginxxx@yahoo.com.tw
to: Transcend Admissions Consultants <transcendadmissions@gmail.com>
date: Mon, May 23, 2011 at 2:13 PM
Dear David,

I would like to tell you that after a long, long wait I FINALLY received the offer of admission to the Georgetown MBA program!!!  Thank you for all the hard work and support you put in on my applications - especially finishing many last minute essay edits and helping me create an effective waitlist strategy that eventually led to this acceptance.     

I am very excited to become your Georgetown University 学弟 and for all the possibilities this MBA degree will bring. :) 

Lets plan a dinner soon to celebrate, and I would love to hear your insights on living and studying in Washington D.C.! 

Yours Truly,

Kory Chen

Positive Hiring Trends for 2011 MBA Graduates

The Graduate Management Admissions Council (GMAC) (the company that brought you the GMAT) has recently reported that the job market for the class of 2011 MBA graduates has significantly improved from 2010. 

In a GMAC survey from March 2011, 54% of MBA class of 2011 respondents indicated that they have already received at least one offer of employment, up from 32% just one year ago as many employers seek to expand operations.  Average salaries for MBA graduates are also on the rise, as annual salaries for job-seekers in the United States and Europe are now over USD91,000.

This is very positive news for current MBA students and future applicants, and is strong evidence that the global economic situation is steadily improving. 

In Many Asian Countries, Women GMAT Testtakers Outnumber Men

This recent Bloomberg/Businessweek article notes that the number of women taking the GMAT exam from China, Taiwan, Vietnam and Thailand is now greater than men.  Last year, 57% of all examinees from Taiwan were women.  These Asian female applicants to MBA programs are likely the reason female enrollment in many programs has increased in recent years.  Ten years ago MBA programs generally had about 25% female enrollment, but now in many programs female enrollment accounts for over 30% of all students.   

Should I Take a Break to Prepare for the GMAT?

A common question we receive at Transcend Admissions Consultants is whether applicants should quit their jobs in order to prepare for the GMAT and create their graduate school applications.

There is no doubt that preparing for the GMAT and producing high-quality application materials is very difficult and time-consuming, especially when you have to balance your time with a very demanding job.  Because of this, many applicants believe that they must quit their job to effectively complete these tasks.   However, before leaving your job you must carefully consider the implications of this decision.  For a Fall 2012 graduate school applicant that quits their job in May 2011, there will be a 16 month gap before the programs begins, which is a considerable amount of time.  During this period you may be giving up potential promotions or management/leadership experiences that could be keys to your success in graduate school.  In addition, if you are not accepted by the schools you apply to you may face a difficult and uncertain job market.   

The applicant must also consider the fact that thousands of graduate school applicants have been able to successfully manage studying for the GMAT and preparing their essays while still thriving at work.  Those applicants who leave their jobs will certainly be at a disadvantage to applicants with similar credentials who continued to work during the application process.  The admissions committee will wonder why the applicant could not balance their job and GMAT preparation at the same time and may decide that they do not have the determination necesary to be a leader.  The admissions committee may also assume that the applicant lacks organizational ability - a key skill for graduate school.       

If you do decide that you must leave your job in order to prepare for the GMAT and do your applications, you should also find something else to work on in the meantime that will show skill development and enhances your resume, such as community service involvement.  In the admissions interview you will definitely be asked about an employment gap, and should be ready to discuss your recent activities, and how these experiences have made you a stronger candidate that can add uniqueness and value to the class. 

An alternative to consider is requesting a leave of absence from your employer.  This can give you the valuable time you need to prepare for the GMAT, but will allow you to return to work so you can continue to enhance your knowledge and skills.  We have found that many employers are open to this type of arrangement.

Paying The Deposit - Then Changing Your Mind

Many graduate school applicants face a dilemma when they are accepted early by a school and asked to quickly pay a deposit before they have time to receive the final decision from the other schools they have applied to.  This becomes even more difficult when the school that has accepted them is not their first choice.

First of all there is nothing wrong with politely asking for a payment extension by explaining to the school that you would like to evaluate all of the offers from the schools you have applied to before paying the deposit.  Many schools will appreciate your honesty and grant such an extension for a limited period of time.

However eventually you may have to make the decision whether or not to pay the deposit while you are still waiting to hear from your dream school.  So what should you do if you eventually receive an offer from your dream school - is it okay to back out and reject the first school?  Here are some points to consider when making this decision:

Monetary consideration.  The deposit will almost certainly not be returned if you back out so you will need to consider whether you can afford to lose this amount of money.

Inspiration and enthusiasm.  Does the first school inspire you to learn and are you extremely enthusiastic about studying there?  If the answer to these questions is no, then you probably should not attend the school, whether you paid the deposit or not.  Graduate school is a huge investment of time and money - this is a decision you must be 100% certain about.  You may regret it for the rest of your life if you go to the wrong school.  Also, the school only wants students who really like their program to attend.  So if you are not enthusiastic about the program in the end it is also better for the school if you do not enroll.       

Ethics.  There is an issue about whether accepting the offer of admission from a school and paying the deposit and then backing out is unethical.  Some people might persuasively argue that this is unethical behavior.  However one can also argue that paying a deposit is simply a monetary issue, not an ethical issue.  If you paid a deposit for a hotel and then decided not to stay there most people would certainly not consider this an unethical decision.  The school still gets to keep your money, so they have gained something.  In addition, many graduate school programs put hundreds of applicants on the wait list for precisely this reason.  Rest assured if you back out, the school will be able to find a qualified and eager candidate to take your place.    

In the end we advise applicants to follow their instincts and go to the school that they like the most.  It is a very personal decision, but foregoing your deposit may be worth it in the end.