One of the questions many GMAT students ask is “why do we have to take this [insert colorful word] test anyway?” There is despair and frustration evident in the question—I want to be a management consultant, for heaven’s sake, why am I studying exponents?
While I believed very strongly that the admissions tests were indeed relevant and always said so, I lacked the real-world business school examples to back up my claims. Until now.
GMAT Skills Are Relevant
After less than a semester of business school, knowledge of the following GMAT (and GRE) topics have already proven indispensable to my success:
1) Fractions: Oh yes, it’s third-grade math back to haunt you! Specific example? In Accounting, we study various financial ratios that determine the health of the business. For instance, the current ratio, a measure of solvency, is calculated by dividing current assets by current liabilities. A question … Read full post
With MBA interview invitations continuing to arrive this time of year, we thought now would be an appropriate time to discuss some challenging interview situations. Most business school interviews are straightforward opportunities for an interviewer to learn more about a candidate’s personal and professional backgrounds, goals, reasons for selecting a specific school, and leadership/team experiences, yet interviews can vary dramatically from school to school and sometimes include a few peculiarities. So, what constitutes a “tough” interview, and how can you best navigate one?
Stoic interviewer: Some interviewers can be unemotional, refusing to give you any indication as to whether you are making a positive impression or not. And amid the intense pressure of an interview, you may perceive this lack of clear positive response as a sign of actual disapproval. The key in managing such a situation is to tune out the interviewer’s lack of emotion. Focus on your answers … Read full post
The price tag of an MBA and the rising debt of newly-minted business school graduates could make anyone stop and second guess their plans to return to business school, leaving them wondering, Is an MBA worth it? It’s important, however, to consider the cost of business school an investment—it’s certainly what the top MBA programs do, emphasizing the “investment” factor over the price of tuition. Frankly, we agree.
While you can’t ignore the $42,000 in debt that the average MBA grad accumulates, you can weigh that initial investment against future earnings and career trajectory to make an informed decision about how the return on investment (ROI) of an MBA figures into your future. Here are some things to consider about the ROI of an MBA that will help you answer the question, Is an MBA worth it?
The ROI of a top-10 MBA program
From Duke and Yale University’s new spots in MBA rankings and which MBA programs have produced the most billionaires, to programs geared toward women MBAs, lucrative compensation packages, and—everybody’s favorite—infographics, let’s dig into the latest in business school news.
Who’s rising in MBA rankings?
While Duke University’s Fuqua School of Business is basking in the glow of capturing top billing in last week’s new Bloomberg BusinessWeek MBA rankings, the biggest winners on the 2014 list are the near-dozen other MBA programs who made big strides.
The most noteworthy improvement belongs to Yale University’s School of Management, which jumped 15 spots to sixth place—its highest spot ever in any of the major (and many) rankings. (Poets & Quants)
Want to be a billionaire?
You’re in good company among the MBA crowd. Check out this list of MBA programs that have produced the most billionaires. None of the contenders will … Read full post
Let’s imagine that you’re on ABC’s Shark Tank, where entrepreneurs (many of them MBAs!) pitch their business and product ideas to five mega-millionaires in the hopes of gaining the coveted financial and strategic support of a “shark.”
Only you’re not the one pitching your product to the sharks. You’re sitting in one of those sharks’ leather chairs yourself, and the dean from one of the country’s top business schools steps into the tank to convince you to invest in an MBA. What questions would you ask the dean to help you determine whether or not you should go for that degree?
You might wonder, how can going to business school help me? What kind of career and salary growth can my MBA help me attain? Let’s take a look at some of the benefits that might help you, future shark, pull the trigger on investing in your future with … Read full post
One of the hallmark points of confusion on GMAT Data Sufficiency is the dreaded Yes/No question.
In a Value question, such as “What is the value of x?” the question of sufficiency is a familiar one: if you can solve for x, you have sufficiency. But in a Yes/No question, especially when variables are involved, finding a solid answer can be a much cloudier process.
Sample GMAT Data Sufficiency Yes/No Question
The best way to clear this fog is with a concrete example. Let’s look at this Data Sufficiency question, along with its first statement:
Is x positive?
(1) x^2 > 1
Is Statement (1) sufficient to answer the question? Unless you have a comprehensive understanding of the underlying Number Properties at work here, your first reaction to this statement is likely to try out different numerical values for x, because working with real numbers instead of variables will … Read full post
Although quantifying a school’s profile certainly does not tell you everything, it can sometimes be helpful in simplifying the many differences between the various MBA programs. We recently surveyed a number of visitors to our site to get a feel for the concerns, plans, and mind-sets of this season’s MBA applicants. Now the results are in, and for those who are curious about their fellow applicants’ views on business school, here is some of the collected data.
This year, we asked MBA hopefuls what was most important to them when choosing a business school to attend. Well over one-half of our survey respondents (56.4%) cited “reputation/ranking” as their primary criteria for MBA program selection, while “professors/academic resources” and “recruiters/corporate connections” tied for a distant second place, with 15.4% of the votes each. Trailing the list of school factors under consideration were “location,” “alumni base,” and “cost/tuition”—which received just 5.1%, … Read full post
From MBA students in India and China vanquishing their American counterparts on their GMAT scores to big data getting big attention from students and recruiters … and Harvard Business School plowing through its fundraising goal, there’s a lot going on in MBA news. Let’s dig into the headlines!
Are GMAT scores a world apart?
The high GMAT scores pouring in from test-takers in India and China are having some unforeseen consequences. It’s gotten to the point that some business schools are even separating out applicants based on the region of the world they come from so as not to discriminate. One admissions consultant says that American applicants are “banging their heads against the wall” over their comparative GMAT scores. (The Wall Street Journal)
Harvard Business School
If there’s one thing future MBAs are likely to understand, it’s the value of a good investment. Even though figuring out how to pay for an MBA can present a challenge, business school applicants may be uniquely qualified to find ways—in the form of both loans and MBA scholarships—to cover their tuition. Just ask the 43% of MBAs who have managed to offset the average $42K of MBA debt and graduate with no student debt at all.
In addition to MBA scholarships, there are multiple sources that business school applicants can look into for funding a graduate degree: Federal Perkins and Stafford Loans, private loans, personal savings, and family or parental support. The challenge with loans, of course, is that you have to pay them back, and money out of pocket is far from desirable.
Scholarships, on the other hand, are like a financial high-five for being awesome…. Read full post
If you think MBAs and nonprofits are about as compatible as oil and water, think again.
Yes, finance and consulting industries lead the top-10 industry preferences for recent MBAs, but nonprofits and social enterprises squarely make the list.
Getting an MBA does not cut you off from a lifetime of social consciousness—far from it. MBAs can contribute volumes to the successful operation of a nonprofit. Still, the nonprofit world faces some challenges attracting MBAs, as many shy away from social enterprise due to (legitimate) concerns about lower earnings, especially when you consider the post-MBA educational debt that faces most business school grads.
While this is a valid concern, some of the stereotypes about MBAs in the nonprofit sector are no more than fallacies. You can successfully apply your MBA degree and your business school skills to the world of social activism. Read on as we help bust a … Read full post