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May 06, 2008
 

MBA Express


NEWS  THIS WEEK'S TOP STORY

Degrees Designed for Rural Business

Some business schools are creating programs so grads can apply their skills to the farms and businesses of rural America



  MORE TOP STORIES
IDEAS AND INNOVATION
Why Saving Matters
Business-school professor Ronald Wilcox discusses his new book on America's aversion to thrift, and what we can do about it

MBA JOURNAL: YEAR TWO
The Great Race
A trip to India and a final lap around the business-plan-competition track leave a Kenan-Flagler MBA winded

VIDEO VIEWS
Austin's New Dean
Dean Paula Murray wants to improve the school's reputation, diversity, and ethics offerings. Smaller classes and new required courses are some of the changes she has implemented

CREDIT
Navigating the Crunch
A financial aid expert explains how borrowers can best ride it out

CREDIT
Scoring a Private Loan for College
The credit crunch means those seeking private loans for the coming academic year are likely to encounter problems

 B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:

Getting into B-School: How to Determine "Fit"

From: JZhang2008
To: ALL

Hi, everyone. I am a first time applicant looking to apply at the end of the year. I am looking for a school with a strong finance program and a solid international reputation. Based on various rankings and charts, I have a good idea of what schools I should apply to. Aside from working on improving my GMAT score, I am also brainstorming on essay topics. From the posting of others on this forum, I've learnt that in order increase one's chance of admission into his or her dream program, he or she must demonstrate the fit between the individual profile and the school profile. However, I doubt that each school publishes such information. (That'll make our jobs way too easy.)

With that said, I was wondering if anyone can share with me how one should go about in order to determine the "personality" of a school. After reading tons of marketing material, I would say most top schools seems fairly similar. For example, I was comparing IMD to INSEAD. They are both one year programs and both strong in finance. INSEAD has its awesome exchange program with its Singapore campus and Wharton. However these facts do not clue me in to what types of candidates they are looking to admit. Thank you so much for your response and I really look forward it hearing what you have to say. Best,
JZHANG2008
------------
From: Betsina
To: JZhang2008

I would look at the clubs that are offered at each school, which ones are most popular, etc. Email alumni and ask how they would describe the student body. Some schools have very strong cultures of service, others are very finance oriented even with extra-curriculars. Look to see where matriculating students came from in terms of industry, etc. Also how students spend their free time -- going to football games or whether most students keep to themselves. Do you want a student body that creates a community or are you there to just focus on your books?
------------
From: DanInVA
To: JZhang2008

If you have the time and money, the best way to determine fit is to visit campus before applying. Sit in on a class or two, talk with students and faculty, and contact alumni if you can get information.
------------
From: Otford15
To: JZhang2008

There are two important but very different aspects of "fit."

The first is your career goal's fit with the school's overall curriculum. You would not apply to Kellogg (extremely strong marketing program) if your interests lay entirely in finance.

I disagree with the previous poster that a good way to determine this is by looking at the school's clubs; most good school's worth their salt will have clubs for almost every conceivable topic. The good news though is that the general focus/strengths of a school can easily be determined by examining their marketing literature.

One of the best things to look at here is the employment report for each school. What companies were the top recruiters? What industry were they in? As an example, if you look at INSEAD's report, you'll see that a huge number of students from the class find places in the management consulting industry. So, if MC is a career goal of yours, INSEAD would likely be a fantastic candidate.

You should not only look at overall rankings. You can also find rankings that rate schools by their "specialty." You'll find for example that Wharton, Chicago, LBS, etc. have strong rankings for finance. In Europe, LBS ranks #1 for finance, and #2 or 3 for entrepreneurship. Imperial College Tanaka ranks #1 for entrepreneurship, etc. These rankings can be a little harder to find, but they're there. Again, they will often be listed in the marketing material for each school.

The previous poster was correct however to say that a good way of determining this fit is to talk to current members of the professionally focused clubs on campus. Interested in Investment Management? Talk to the head of the IM club and see what the club does to promote its members to the IM community at large and find them jobs. This is also a great idea because you can use this interaction in your application to the school; adcoms are thrilled that you've taken the time to discuss with current students... it shows genuine interest and pro-activeness on your behalf and will go a long way in helping you secure a spot.

The 2nd type of "fit" that is every bit as important, but much harder to define/research is your personality to the school's personality. This is quite separate from "career fit." For example, I'm interested in finance and private equity. Wharton would be a fantastic fit for this career focus, perhaps one of the best. But I would never consider Wharton because I know my personality would clash with that of the overall student body. Wharton is known for being very competitive within the classroom with students trying to out perform each other... its often referred to as cutthroat.

The absolute best way to determine personality fit is to visit the school. This of course is not a realistic option for many due to the expense, but it works. When I visited LBS, I knew immediately after meeting some of the students and sitting in on a class that my personality fit perfectly with LBS. If you cannot actually visit the school's you're interested in, you should attend any information sessions that travel through your part of the world. While it may be harder to get an idea of the "personality" of that school than if you were meeting students, it should still help.

If you really have no idea where to start, you could look at this thread on school stereotypes. Remember, they are just that, stereotypes, so they do not hold true in all cases, but they'll give you a general idea. Don't let these replace actual research though!!

http://forums.businessweek.com/n/pfx/forum.aspx?tsn=1&nav=messages&webtag=bw-bschools&tid=75753

Well, I think I've written enough for now :-)

Good luck with your search!
----------------------------------------------------------


Getting into B-School: General Management Jobs

From: chuckh2008
To: All

Hi,

It seems everyone knows about the top consulting and finance companies that people want to get into post-MBA but I was curious on which companies are considered top jobs (or hard to get into) for general management positions post-MBA?

Any help would be appreciated.

Thanks,
Chuck
------------
From: riverripper
To: chuckh2008

I think it depends on what you mean by management...you can get strategy, brand, product, general, supply chain, and many other types of management positions at pretty much every company even at the big banks. I would say sought after management rolls are at companies like Fortune 100 companies, high tech places like Apple, Google, and Microsoft are really popular these days but so are big traditional GM companies like General Electric. But it really depends on what your goals are and what your desired industry is.

Someone may want high tech so will chase Apple, Google, Microsoft, etc. A person wanting a very traditional large company with rotational leadership development will go after something like GE. A person wanting oil/gas will go after Exxon, BP, Shell. Automotive would be going after GM, Ford, Toyota, etc...Also remember at CPGs and retail places the people who move up general come from the marketing areas. So if you want to work for Procter & Gamble, Coke, Target, or Johnson & Johnson you most likely will be best served to enter in a marketing roll doing product/brand management.

There are so many different industries and functions that what is someones dream job may be the last place a person wants to work. Finding the best companies for you means you really need a clear goal of what industry you want to be in and what type of work you want to do.
------------
From: chuckh2008
To: riverripper

Thank you for you detailed response and insight.

I know I want to get into Strategy and eventual goal is to get into core management team of the company but I am not sure on the industry.

I have a tech background (developer kind) so it makes sense for me to target Google/Microsoft or can I still make into Coke/GE. By the way, to get into Exxon/Shell does one need to have oil/gas background?

Also, do you know the salary people make in general management jobs right out of school and also what is the salary range 3-5 years post MBA. The reason I am asking is that I used to make ~$130K for last 2-3 years as a techie. Am I going to take a hit with GM jobs?

Chuck
------------
From: DanInVA
To: chuckh2008

Right out of school, you will likely take a hit. Depending on the industry, you will likely be in the $90K to $100k range.

 B-SCHOOL BLOGS
View over 4,500 blogs in our MBA Blogs community today! Share your journey, meet new friends, and expand your network. Connect with MBA students, applicants and alumni from Columbia, Kellogg, Notre Dame, and more! Become a blogger today! Here's an excerpt:

Ernest Goes to MBA School: If You Look up My Name...
By Ernie
Comments: 0 Stars: 0


You will find three individuals all with the same name. Two of which already received MBAs. Senior attended Chicago GSB, Junior attended NYU/UofDE Lerner, and the third chose what might be perceived as a lesser route. After conquering my GMATs, I was faced with several full-time MBA school choices. I admittedly started my search by looking at rankings which after having done further statistical study, I disagree with their benchmarking method. My decision lead me to Howard University in Washington D.C. Strange choice for a GMAT score which rivals those of the top twenty b-schools and a lineage of top tier MBA schools running through my blood. Right? Well no.

Actually my search branched into the analysis of income/debt ratio, prospect for advancement, company recruitment, location, and course material. In addition I found out before hand who my professors are and what materials they individually use. My grandfather upon completing his MBA ventured East to start a business program for Delaware's only historically black college. This created a platform by which less privileged minorities could obtain the same level of education and remain competitive in the corporate world. (I'm still ashamed that I cannot fully grasp the excitement behind tax accounting, sorry grandpop!) My father has used his MBA to elevate himself in the military combining best practices of business and government to support our armed force's strategic objectives. He also volunteers his time in Wilmington, DE with a city organization that attempts to solve many of the problems plaguing our neighborhood's most precious resource, our communities. Howard University has produced numerous leaders who not only contribute to uplifting African Americans, but creating an integrated social climate on which citizens as a whole can prosper. Here I have the same access to top companies as my grandfather and father did, and what companies do not come here to recruit, I seek out myself.

I recently completed my first year with a cumulative 4.0 out of 12 classes taken and thoroughly enjoy the learning atmosphere as well the vibrant students who come from a diversity of backgrounds. If you happen to read this and are curious about a "non-ranked" school, please contact me. Or you can ask your buddy that goes to Harvard about me..Out of four individuals nationwide chosen for a specific internship program I will be sharing those honors with two Harvard students and one GSB student.

All programs have setbacks and I am not blind to my program's own. That being said, the benefits far outweigh the detriments and both my grandfather and father are proud of my decision.
FOR THE FULL VERSION


 WORDS OF WISDOM
MBA grads offer advice on choosing a business school
-------------------------------------------

One of the best decison was choosing Georgetown over Columbia, Cornell, and Yale. Those are all outstanding programs, however, the people I met at GU made the diffence. From professors to classmates, I was challenged and fostered. It is more important to choose a school based on "fit" than ranking.
-Georgetown '98; Pharmaceutical Marketing

I went to Thunderbird because I wanted a career in international business, and I figured a Master of International Management (MIM) was more directed than an MBA. I was kind of naive. I wish I'd known that "international business" could mean a lot of things: from working for a large multinational based in the U.S. and traveling now and again internationally, to working for a small foreign-owned company based abroad and living (almost exclusively) abroad. It depends on what you want. But my experience was that if you wanted to live abroad, Thunderbird offered some distinct advantages (name recognition, etc.). Otherwise, the standard MBA was more respected in Corporate America (domestic or international jobs included).
-Thunderbird '95; Systems Analyst

I think I already knew that all that matters [about B-school] is the people you meet and the network you join. Columbia Business School connections have already helped. While the network is less apparent immediately out of school, it really makes a difference over time. As we rise through the ranks, or start businesses, or deal with companywide issues, we find that contacts at other firms help.
-Columbia '97; Internet Entrepreneur

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  B-School Insider
Dear Reader:

While the chaos in financial markets focuses attention on that key area of the MBA world, this week's lead story ("Degrees Designed for Rural Business") on business programs aiming to prepare grads for jobs in rural areas of the U.S. As the story notes, MBAs in rural areas can play an important role in preserving the viability of farms and businesses of rural America - and help them revitalize their economies in a time of change.

Also this week, we have an timely interview with a business school prof ("Why Saving Matters") on why thrift matters, another installment ("The Great Race") in our MBA Journals series, and a video interview with the dean of Texas-Austin's undergrad business program.

On another note, last week BusinessWeek's Business Schools channel won a National Magazine Award for Personal Service Online. While we're proud of the work we do, we wouldn't have a vibrant business schools community online without the participation of our readers. So thank you, and we hope you will continue to visit us, read, and participate in the year ahead.

Until next week,
Phil Mintz
B-Schools Channel Editor


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B-School Calendar
BusinessWeek.com's scheduling tool will give you an idea of upcoming events at B-schools in the U.S. and around the world. You'll find information on admissions receptions, application deadlines, networking events, alumni events, conferences, and much more.

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