Business school admissions professionals must determine whether you have the ability to succeed both academically and professionally.There's a lot you can do to show them what a good candidate you are, but that is always easiest if you are clear in your knowledge of your own abilities and goals and how they fit in with the schools to which you apply.
Here's some advice for making sure you present yourself well as an MBA candidate:
Be honest. Admissions professionals are good at identifying when someone is just saying what they think the admissions committee wants to hear. Tell the truth about what you are looking to get out of the MBA degree, what your goals and aspirations are, what you are passionate about, and why you are interested in a given school and program.
Be realistic. It's one thing to say you want to be a great chef, but that may not be immediately attainable if you have never cooked anything in your life. Make sure that your career goals are based on an accurate assessment of your experience and skills (see Self-Assessment: The Real Edge). Also, make sure that your credentials match the typical admissions requirements of the schools to which you apply; with all the competition for seats in business school, you'll want to apply where you have a solid chance of being admitted.
Tell not only what you hope to gain but also what you want to contribute. Classmates are an important part of the MBA education. In fact, MBA grads say that the quality of their fellow students is an important part of their MBA experience. Show that you'll be a valuable member of the learning community.
Know about the school and program to which you are applying. In addition to talking in detail about yourself, you'll want to be able to show that you are familiar with the given school and why you are a good fit.
Pay attention to school culture and corporate culture. Part of being a good fit for a school has to do with the culture of the school—whether you will feel comfortable and be able to thrive in the learning community. A visit to campus will tell you more than anything about that aspect of fit; talking with former and current students can help, too. Cultural considerations shouldn't only factor into your school decisions; they should also affect the decisions you make about where to work. Some industries have unique cultures—companies in the tech sector, for instance, typically have a different culture from consulting firms and investment banks. There are cultural differences from company to company within one industry, as well. Know what kinds of cultures will be right for you. The CultureMatch report in the CareerLeader online assessment will help you determine the right cultures for you.
Go back to school at the right time. You will want to develop the right pre-MBA experience to aid your intended career switch or to help you further your current career with an MBA. Your post-MBA employment options will depend largely on your pre-MBA exposure and experience, so make sure that you have enough pre-MBA experience to help you take advantage of all the benefits the degree offers. Do research to find out what MBA employers expect and what MBA admissions committees factor into their considerations about candidates' employment outlook. If you don't feel you have enough work experience right now to benefit fully from an MBA, get some more career experience and apply later.(
Showing posts with label MBA Degree. Show all posts
Showing posts with label MBA Degree. Show all posts
Monday, February 18, 2008
Monday, February 4, 2008
Paying for Your MBA: Alternative ways to cut costs
Paying for Your MBA:Alternative ways to cut costs
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Alternative ways to cut costs
Before you take out a loan, put in the time to investigate every source of aid for which you may be eligible.
Payment plans
Check with the schools you're interested in to see if they offer payment arrangements to lessen out-of-pocket expenses. At some schools, you can divide tuition and other fees out over the course of a year rather than paying everything up front. If you have a steady source of income, such an alternative could be a godsend.
Tuition reimbursement
If you work while attending school, your employer may provide tuition assistance, so find out if you have this benefit. Make sure you’re clear on what’s covered and how your employer administers assistance. In most cases, you'll need to pay for your classes up front and then be refunded upon successful completion of your course work ("successful" is usually defined by maintaining a certain GPA, usually a B average or better). Every company has its own rules, however, so be sure to find out all the details before you apply.
If your company doesn't offer this benefit, you may want to make a persuasive argument to your boss for doing so —employers are always looking for ways to keep good employees. Be sure to explore any tax ramifications of accepting tuition reimbursement from your employer. In some cases, it may be taxed as income
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Alternative ways to cut costs
Before you take out a loan, put in the time to investigate every source of aid for which you may be eligible.
Payment plans
Check with the schools you're interested in to see if they offer payment arrangements to lessen out-of-pocket expenses. At some schools, you can divide tuition and other fees out over the course of a year rather than paying everything up front. If you have a steady source of income, such an alternative could be a godsend.
Tuition reimbursement
If you work while attending school, your employer may provide tuition assistance, so find out if you have this benefit. Make sure you’re clear on what’s covered and how your employer administers assistance. In most cases, you'll need to pay for your classes up front and then be refunded upon successful completion of your course work ("successful" is usually defined by maintaining a certain GPA, usually a B average or better). Every company has its own rules, however, so be sure to find out all the details before you apply.
If your company doesn't offer this benefit, you may want to make a persuasive argument to your boss for doing so —employers are always looking for ways to keep good employees. Be sure to explore any tax ramifications of accepting tuition reimbursement from your employer. In some cases, it may be taxed as income
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
Paying for Your MBA : Private and alternative financing
Paying for Your MBA:
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Private and alternative financing
Foundations, corporate sponsors, and individuals offer millions of dollars of aid every year through scholarships, grants, internships, and loans awarded either directly to you or to your school. Private sponsors establish their own application procedures and eligibility criteria which may have little or nothing to do with your financial situation. You’ll probably need to do a little work to uncover all of the private aid that you may be eligible to receive, and you’ll have to shop around for the loans that offer the best interest rates and terms of repayment — but the work you put into this process will be well worth the effort.
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Private and alternative financing
Foundations, corporate sponsors, and individuals offer millions of dollars of aid every year through scholarships, grants, internships, and loans awarded either directly to you or to your school. Private sponsors establish their own application procedures and eligibility criteria which may have little or nothing to do with your financial situation. You’ll probably need to do a little work to uncover all of the private aid that you may be eligible to receive, and you’ll have to shop around for the loans that offer the best interest rates and terms of repayment — but the work you put into this process will be well worth the effort.
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
Paying for Your MBA: Institutional resources
Paying for Your MBA: Financial Resources
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Institutional Resources
Some schools offer their own loan programs to help you with educational expenses. Your financial aid administrator can tell you what you'll need to do to apply for a loan from the school. You may also be eligible for a variety of school-sponsored scholarships and grants that may be awarded based on either need or merit.
Additionally, many graduate students use teaching assistantships to help pay all or part of the cost of their education — a gig that typically requires a commitment of about 20 hours per week. You should also check with your school to see if they offer any other on-campus employment opportunities that are not based on need or merit. Explore internship opportunities that are available at the school — a paid internship enables you to receive financial support while gaining work experience and, in some cases, academic credit.
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Institutional Resources
Some schools offer their own loan programs to help you with educational expenses. Your financial aid administrator can tell you what you'll need to do to apply for a loan from the school. You may also be eligible for a variety of school-sponsored scholarships and grants that may be awarded based on either need or merit.
Additionally, many graduate students use teaching assistantships to help pay all or part of the cost of their education — a gig that typically requires a commitment of about 20 hours per week. You should also check with your school to see if they offer any other on-campus employment opportunities that are not based on need or merit. Explore internship opportunities that are available at the school — a paid internship enables you to receive financial support while gaining work experience and, in some cases, academic credit.
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
Paying for an MBA : Veteran’s assistance
Paying for Your MBA: Financial Resources
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
There’s more to financial aid than the federal government, although it does offer some of the best loans and terms around. However, even the Fed can’t necessarily get you everything you need to get that MBA you’re after, so do a thorough job of checking out what is available to you. You might be surprised by what you find.
Veteran’s assistance
If you are a veteran and have completed at least one year of active service, Veterans Educational Benefits are available for graduate study. The amount of benefit for which you’re eligible depends on your length of military service, the number of dependents you have, and how many course credits you carry. For more information, check with the veterans' affairs offices at the schools to which you're applying or call the Veterans Affairs Department in Washington, D.C
Technorati Tags:
MBA, financial aid, scholarship, state aid, FAFSA
Friday, January 25, 2008
Waste of Money for Would-Be Entrepreneurs
Seventy percent of the small business owners who participated in the survey indicated that an MBA degree isn't a big factor in determining entrepreneurial success.
SurePayroll President Michael Alter says that the survey results are not surprising.
"That's the beauty of entrepreneurship," said Alter. "Anybody can go into business regardless of their education. A person's level of education is isn't a big determinant of success. The things that matter are having a good business plan, finding a niche, being passionate about what you do, and working hard and smart to achieve your business goals."
The entrepreneurs who were surveyed clearly agree that formal education is not an essential ingredient for entrepreneurial success. Only 44 percent said that formal education is very important in preparing entrepreneurs for success. 51 percent said that education is only somewhat important and 5 percent said that education is not important. In a ranking of entrepreneurial success factors, formal education came in last.
SurePayroll President Michael Alter says that the survey results are not surprising.
"That's the beauty of entrepreneurship," said Alter. "Anybody can go into business regardless of their education. A person's level of education is isn't a big determinant of success. The things that matter are having a good business plan, finding a niche, being passionate about what you do, and working hard and smart to achieve your business goals."
The entrepreneurs who were surveyed clearly agree that formal education is not an essential ingredient for entrepreneurial success. Only 44 percent said that formal education is very important in preparing entrepreneurs for success. 51 percent said that education is only somewhat important and 5 percent said that education is not important. In a ranking of entrepreneurial success factors, formal education came in last.
Thursday, January 17, 2008
MBA Will Put Your Career on the Fast Track
If you feel like your career isn't heading in the direction you'd like, or if you think it's time to change careers, you may want to start by looking into MBA programs. While on-the-job learning is great training and valuable background, many employers are looking for academic credentials for higher level jobs.Not only can an MBA lead to a more interesting, fulfilling career, but it can also substantially increase your income. According to PayScale.com, the median salary for individuals with an MBA degree is $78,000. That compares to a median salary of $57,000 for people with a Bachelor of Science degree, $51,000 for someone with a Bachelor of Arts degree, and $40,444 for someone with a high school diploma. Clearly, if you are shooting for a rewarding career with a hefty paycheck, an MBA is the way to go.But if you're already working a full-time job, raising a family, or taking care of other obligations, chances are you can't just put the brakes on your everyday life to go back to school fulltime. There's another way to get your degree -- online learning. With online learning, you can get the credentials you need to reach your career goals on a schedule that works for you.
eLearners is a company that provides a variety of services to help potential online and distance learners find out about and select the best courses, programs and degrees for their needs. Services at eLearners.com are free -- the site and its provisions are entirely supported by their education partners, sponsors and service providers. They point you to a wide variety of colleges, schools and companies, and try to give you enough information about online learning to narrow your choices and make an informed decision.For instance, Walden University, is an accredited graduate institution offering advanced degrees online to professionals who work to make a difference. Students can complete the program in less than two years, making it ideal for ambitious learners who wish to pursue an advanced degree without sacrificing career or family.The University's academic standards are high, the faculty is experienced and the curriculum is rigorous. Walden's MBA program is results-oriented and designed to deliver an understanding of leading-edge, 21st century management practices. The Walden distance learning approach optimizes relevance and depth of learning by letting students share experiences with peers here and abroad.
An MBA isn't the only way to advance your career and increase your pay. Choose from over 1,500 online degree programs and 6,000 professional certificates.
eLearners is a company that provides a variety of services to help potential online and distance learners find out about and select the best courses, programs and degrees for their needs. Services at eLearners.com are free -- the site and its provisions are entirely supported by their education partners, sponsors and service providers. They point you to a wide variety of colleges, schools and companies, and try to give you enough information about online learning to narrow your choices and make an informed decision.For instance, Walden University, is an accredited graduate institution offering advanced degrees online to professionals who work to make a difference. Students can complete the program in less than two years, making it ideal for ambitious learners who wish to pursue an advanced degree without sacrificing career or family.The University's academic standards are high, the faculty is experienced and the curriculum is rigorous. Walden's MBA program is results-oriented and designed to deliver an understanding of leading-edge, 21st century management practices. The Walden distance learning approach optimizes relevance and depth of learning by letting students share experiences with peers here and abroad.
An MBA isn't the only way to advance your career and increase your pay. Choose from over 1,500 online degree programs and 6,000 professional certificates.
Monday, January 14, 2008
MBA Can Put Your Career on the Fast Track
If you feel like your career isn't heading in the direction you'd like, or if you think it's time to change careers, you may want to start by looking into MBA programs. While on-the-job learning is great training and valuable background, many employers are looking for academic credentials for higher level jobs.Not only can an MBA lead to a more interesting, fulfilling career, but it can also substantially increase your income. According to PayScale.com, the median salary for individuals with an MBA degree is $78,000. That compares to a median salary of $57,000 for people with a Bachelor of Science degree, $51,000 for someone with a Bachelor of Arts degree, and $40,444 for someone with a high school diploma. Clearly, if you are shooting for a rewarding career with a hefty paycheck, an MBA is the way to go.But if you're already working a full-time job, raising a family, or taking care of other obligations, chances are you can't just put the brakes on your everyday life to go back to school fulltime. There's another way to get your degree -- online learning. With online learning, you can get the credentials you need to reach your career goals on a schedule that works for you.eLearners is a company that provides a variety of services to help potential online and distance learners find out about and select the best courses, programs and degrees for their needs. Services at eLearners.com are free -- the site and its provisions are entirely supported by their education partners, sponsors and service providers. They point you to a wide variety of colleges, schools and companies, and try to give you enough information about online learning to narrow your choices and make an informed decision.For instance, Walden University, is an accredited graduate institution offering advanced degrees online to professionals who work to make a difference. Students can complete the program in less than two years, making it ideal for ambitious learners who wish to pursue an advanced degree without sacrificing career or family.The University's academic standards are high, the faculty is experienced and the curriculum is rigorous. Walden's MBA program is results-oriented and designed to deliver an understanding of leading-edge, 21st century management practices. The Walden distance learning approach optimizes relevance and depth of learning by letting students share experiences with peers here and abroad.An MBA isn't the only way to advance your career and increase your pay. Choose from over 1,500 online degree programs and 6,000 professional certificates.
Wednesday, January 2, 2008
Online MBA Accreditation
The Most Important Consideration When Choosing an Online MBA Program
School accreditation is the most important factor to consider when deciding on an online MBA program. Proper accreditation could mean the difference between an online MBA degree that gets you a promotion and a degree that isn’t worth the paper it’s printed on.
Anyone can make up a “fake” accrediting agency, and many diploma mills will boast of accreditation from organizations that sound professional. However, not every accrediting agency gets respect in the real world. There are three types of accreditation agencies that are essential to consider when earning an MBA online: regional accreditation, professional accreditation, and distance learning accreditation.
Regional Accreditation
Regional accreditation is the most widely accepted type of accreditation. If you want your online MBA to be recognized by future employers, you’ll want to make sure to enroll in a school that has regional accreditation. There are six regional accrediting agencies that grant this recognition. Although your MBA classes will be held online, the school itself should be accredited by one of the six agencies:
Middle States Commission on Higher Education (info@msche.org) – Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania, Puerto Rico, Virgin Islands New England Association of Colleges and Schools (kwillis@neasc.org) – Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont North Central Association of Colleges and Schools (info@ncacihe.org) – Arizona, Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, West Virginia, Wisconsin, Wyoming Northwest Association of Accredited Schools (northwest@boisestate.edu) – Alaska, Idaho, Montana, Nevada, Oregon, Utah, Washington Southern Association of Colleges and Schools (info@sacscasi.org) – Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia Western Association of Schools and Colleges (wascsr@wascsenior.org) – California, Hawaii, the Pacific Basin
Professional Accreditation
The Association to Advance Collegiate Schools of Business (AACSB) grants accreditation to MBA and other business programs. AACSB is a well-established, respected accrediting agency that is trusted by many employers in the field of business.
Graduating from an online MBA program that is accredited by the AACSB may give your resume an extra boost. Some employers may be more likely to hire you because of your school’s accreditation. However, AACSB accreditation is not necessary. If your alma mater is regionally accredited, most employers will still be willing to hire you.
Distance Learning Accreditation
The Distance Education and Training Council (DETC) is the largest accrediting agency to focus solely on distance learning colleges. The council is growing in respect and recognition; however its accreditation is still the least influential. If your online MBA program is accredited by the proper regional agency or by the AACSB, don’t worry about distance learning accreditation.
An online MBA degree that is only accredited by the DETC is better than a degree that has no accreditation at all. However, your DETC-accredited degree may not be fully recognized by other universities and future employers.
In a Nutshell
Accreditation can be confusing. As you search for the perfect online MBA program, here are the basics you’ll need to remember:
1. Regional accreditation is your best bet.
2. AACSB accreditation will make your online MBA stand out.
3. DETC accreditation may not be accepted everywhere.
4. Any other type of accreditation will not be as important as the three listed above.
Technorati Tags:
MBA, online MBA, MBA Accreditation, degree Accreditation
School accreditation is the most important factor to consider when deciding on an online MBA program. Proper accreditation could mean the difference between an online MBA degree that gets you a promotion and a degree that isn’t worth the paper it’s printed on.
Anyone can make up a “fake” accrediting agency, and many diploma mills will boast of accreditation from organizations that sound professional. However, not every accrediting agency gets respect in the real world. There are three types of accreditation agencies that are essential to consider when earning an MBA online: regional accreditation, professional accreditation, and distance learning accreditation.
Regional Accreditation
Regional accreditation is the most widely accepted type of accreditation. If you want your online MBA to be recognized by future employers, you’ll want to make sure to enroll in a school that has regional accreditation. There are six regional accrediting agencies that grant this recognition. Although your MBA classes will be held online, the school itself should be accredited by one of the six agencies:
Middle States Commission on Higher Education (info@msche.org) – Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania, Puerto Rico, Virgin Islands New England Association of Colleges and Schools (kwillis@neasc.org) – Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont North Central Association of Colleges and Schools (info@ncacihe.org) – Arizona, Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, West Virginia, Wisconsin, Wyoming Northwest Association of Accredited Schools (northwest@boisestate.edu) – Alaska, Idaho, Montana, Nevada, Oregon, Utah, Washington Southern Association of Colleges and Schools (info@sacscasi.org) – Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia Western Association of Schools and Colleges (wascsr@wascsenior.org) – California, Hawaii, the Pacific Basin
Professional Accreditation
The Association to Advance Collegiate Schools of Business (AACSB) grants accreditation to MBA and other business programs. AACSB is a well-established, respected accrediting agency that is trusted by many employers in the field of business.
Graduating from an online MBA program that is accredited by the AACSB may give your resume an extra boost. Some employers may be more likely to hire you because of your school’s accreditation. However, AACSB accreditation is not necessary. If your alma mater is regionally accredited, most employers will still be willing to hire you.
Distance Learning Accreditation
The Distance Education and Training Council (DETC) is the largest accrediting agency to focus solely on distance learning colleges. The council is growing in respect and recognition; however its accreditation is still the least influential. If your online MBA program is accredited by the proper regional agency or by the AACSB, don’t worry about distance learning accreditation.
An online MBA degree that is only accredited by the DETC is better than a degree that has no accreditation at all. However, your DETC-accredited degree may not be fully recognized by other universities and future employers.
In a Nutshell
Accreditation can be confusing. As you search for the perfect online MBA program, here are the basics you’ll need to remember:
1. Regional accreditation is your best bet.
2. AACSB accreditation will make your online MBA stand out.
3. DETC accreditation may not be accepted everywhere.
4. Any other type of accreditation will not be as important as the three listed above.
Technorati Tags:
MBA, online MBA, MBA Accreditation, degree Accreditation
Tuesday, December 25, 2007
Executive MBA program
Executive MBA Programs
Nowadays, there are many different types of MBA programs. Before making a decision, you should evaluate each and every one.
Executive MBA (EMBA) programs are designed to meet the needs of upper level managers. Candidates should have at least five years work experience, because they are often judged on what they can bring to the program. Executive MBA programs are perfect for someone who is already a specialist in their field, but needs additional skills to climb the ladder of success.
Program Duration
Executive MBA programs typically award degrees to students in two years or less. Most EMBA students will devote 80 to 100 hours per week to their job/schooling.
Program Advantages
Executive MBA programs offer a broad curriculum that covers many of the major business disciplines.
Students who complete the program will have a definite understanding of general management procedure.
Program Disadvantages
Executive MBA programs are rigorous and require a great deal of commitment from students. Your employer must be willing to allow time-off for classes if necessary.
Also, if you are looking for a customizable program, the Executive MBA may not be for you. There is often limited or no opportunity to specialize in any given discipline. General management is the focus of most Executive MBA programs.
Admission
EMBA students are usually company sponsored and enrollment is often tied to a pending promotion. Many Executive MBA programs require five years of professional work experience.
Nowadays, there are many different types of MBA programs. Before making a decision, you should evaluate each and every one.
Executive MBA (EMBA) programs are designed to meet the needs of upper level managers. Candidates should have at least five years work experience, because they are often judged on what they can bring to the program. Executive MBA programs are perfect for someone who is already a specialist in their field, but needs additional skills to climb the ladder of success.
Program Duration
Executive MBA programs typically award degrees to students in two years or less. Most EMBA students will devote 80 to 100 hours per week to their job/schooling.
Program Advantages
Executive MBA programs offer a broad curriculum that covers many of the major business disciplines.
Students who complete the program will have a definite understanding of general management procedure.
Program Disadvantages
Executive MBA programs are rigorous and require a great deal of commitment from students. Your employer must be willing to allow time-off for classes if necessary.
Also, if you are looking for a customizable program, the Executive MBA may not be for you. There is often limited or no opportunity to specialize in any given discipline. General management is the focus of most Executive MBA programs.
Admission
EMBA students are usually company sponsored and enrollment is often tied to a pending promotion. Many Executive MBA programs require five years of professional work experience.
Tuesday, December 11, 2007
MBA in th US
Frankly, it's time somebody told you the truth - dispelled the myths, cleared up the inaccuracies, and laid out both the practical framework and the philosophical underpinnings of the Masters of Business Administration (MBA); particularly if one chooses to pursue such a degree in the United States. It's time for some straight talk, and there is no better time than now.
When distilled to its vital essence, its vibrant core, the MBA's true worth lies in three areas: educational value, relationship development, and access to opportunity. Let's start with the easiest of the three - access to opportunity.
Let's face it - an MBA is not the Holy Grail. But in some circles of business, you will not have an opportunity to even compete, much less develop and showcase your skills and talents - without first getting an MBA. For such companies, for such industries, an MBA is an "Admissions ticket." It is the price of Admissions for being hired. The reasons for this are many.
Unlike the generation of my parents who came of age after World War II, where the goal was to find a great job at a great company, where pay and job security were assured - a company from which one retired; we live in a vastly different world today. In my father's day, the key was to find the right company, and to work one's way up the corporate ladder. In America, such companies were plentiful - from telecommunications to manufacturing to electronics to the automotive industries - even government. Such companies had strong in-house programs for training and development whereby employees could improve their skills and thereby their lots within the firm. In fact, those with degrees, much less in business, or those with MBAs, were indeed in the minority. Such degrees weren't all that necessary. Such was the business climate of my father's generation. I say my father, because it was also the generation in which a working woman was an anomaly. The world in which we live today, and the one you will face in the years ahead, is an entirely different species.
Today's world is fluid. On the one hand, many employees change jobs every five years; some even change careers. Given this migratory labor force, many firms have chosen to let the educational arena, particularly MBA programs, do what was originally handled within a company's particularized training and development program. On the other hand, this fluidity is not limited to employees. In today's climate of mergers and acquisitions many companies are constantly reinventing and reconfiguring themselves as well. Regrettably, loyalty and longevity are values of a bygone age. Unfortunately, this is not the end of the challenge.
Technological development, fueled by an ever widening Internet, has created a paradigm shift both in business and in the business of education. The Internet's true impact is not yet fully understood, but what is clear is that it is changing our world. As a manager, it is not uncommon to be called upon to manage in areas that did not even exist when you were in school (e.g. the Internet). Consequently, if you intend to be an effective manager in this fluid world, an MBA is a useful tool to have. But, an MBA from where?
It is an important question. For some American firms, where you go to school is as important as what degree you pursue. Sometimes, even more so . Getting my undergraduate education at Yale taught me that, and Business Week's, October 2 edition: "The Best B Schools," reinforces the reality that where you go to school still does matter. Such schools as Yale, Harvard, the Massachusetts Institute of Technology (MIT), Stanford, Wharton and Northwestern, all have great brand name value. If you get your MBA from such schools, you will have a wealth of opportunities to choose from. However, if you dig deeper, you will learn that while Harvard and Stanford have great brand names and equally great MBA programs, Yale has a great brand name, but its MBA equivalent degree (Masters in Public and Private Management or MPPM) is not as respected as that of Harvard or Stanford's MBA. Still, because Yale's brand name is so great, it seems not to matter that the degree is not as highly valued. As a Yale graduate one still has great opportunities, no matter what degree you pursue. However there is more to the story.
In my conversations with Yale Management school officials coupled with my own observations, I learned that over the years, many Yale students began to feel that nobody really understood what an MPPM was. As such, last year students were allowed to have their MPPM degree labeled as an MPPM or as an MBA. As of the fall 2000, the MPPM is now officially an MBA. Yale did not substantially change the curriculum content. It just changed the name. This demonstrates that at American Universities students can sometimes make a big difference, and it also underscores how important the MBA degree really is.
Many MBA programs seek to appeal to potential students by developing a specialty or by developing strength in a particularly region of United States. For example, the University of Southern California in Los Angeles (USC) has a very strong reputation in the Southern California with respect to its MBA program. Its national reputation as an MBA program provider is not as strong. However, since Los Angeles is one of the most important economic centers in America, to have a strong presence in Southern California is a great thing. We have pursued a similar course here in the Charlotte area, the largest banking center in America. However, USC has a great national reputation with respect to its graduate program in film. On the other hand, the University of California at Los Angeles (UCLA), where I spent several years as Senior Associate Director of MBA Admissions, was ranked in the top ten of business schools in the country (now its ranked 12th); thereby, having a great brand name both nationally and regionally. However, UCLA's graduate school film program is not as well regarded as USC. What does this all mean?
The point of the matter is that in the world of business, particularly the MBA world, perception means a lot. What people perceive as being the case is often what counts. On the other hand, this perception may not match the reality. You might choose a particular MBA program in America because of what you perceive it to be or because of what your advisors perceive it to be. But, you may be disappointed, or it may exceed your expectations when you actually arrive. What can you do? Visit, talk to alumni of the school, talk to current students, do independent research, and of course read the institution's promotional materials (including its web site). Examine where its professors were educated, what is their experience, where do the institution's graduates go? How do they fare in the marketplace? However, this information will make little sense if you haven't figured out why you want an MBA and what you expect your MBA to mean in your career.
You must develop your personal framework through which all information you encounter will be filtered. Before you develop your personal framework, let me warn you. You already have one. Let me illustrate the point by dispelling the first myth that often trips up prospective MBA students.
Myth #1: Those without a business major need not apply. Rubbish.Contrary to popular belief, you do not have to be an undergraduate business major in order to pursue an MBA. In fact, a great majority of the best graduate schools in America prefer a varied mix of undergraduate majors and that an as varied array of work experience backgrounds be represented in their student bodies. Why? It is because the primary method of teaching is through the case method, and the primary method of learning is through collaboration. This stands in stark contrast to schools of law where the method of learning is rooted more in an adversarial process rather than a collaborative one. In plain English, what does this all mean? Let me be more specific.
In a typical MBA course, it is not uncommon for students to examine a particular case study as a means of understanding the key principles the professor deems important. In examining the case, students do not come to the subject matter as a blank slate. Each draws upon their work experience and academic preparation. A person with a marketing background will see things in the case that perhaps a person with a financial background may not. A person with a social services background may see something that a person with a technical base may overlook. However, when all these perspectives (i.e. personal frameworks) are brought to bear on the case, each participating student both contributes and is enriched by the dynamics of the learning process.
While these are indeed generalizations, they are still the predominant learning patterns for graduate business programs in America. It underscores that learning is not just a relationship between a student and the professor. You will learn from each other.
In the final analysis, what is important is to have a reasonable exposure to both quantitative and qualitative elements with a good foundation in reasoning and thinking. However, I am reminded of the words of William James: "A great many people think they are thinking when they are merely rearranging their prejudices."
When distilled to its vital essence, its vibrant core, the MBA's true worth lies in three areas: educational value, relationship development, and access to opportunity. Let's start with the easiest of the three - access to opportunity.
Let's face it - an MBA is not the Holy Grail. But in some circles of business, you will not have an opportunity to even compete, much less develop and showcase your skills and talents - without first getting an MBA. For such companies, for such industries, an MBA is an "Admissions ticket." It is the price of Admissions for being hired. The reasons for this are many.
Unlike the generation of my parents who came of age after World War II, where the goal was to find a great job at a great company, where pay and job security were assured - a company from which one retired; we live in a vastly different world today. In my father's day, the key was to find the right company, and to work one's way up the corporate ladder. In America, such companies were plentiful - from telecommunications to manufacturing to electronics to the automotive industries - even government. Such companies had strong in-house programs for training and development whereby employees could improve their skills and thereby their lots within the firm. In fact, those with degrees, much less in business, or those with MBAs, were indeed in the minority. Such degrees weren't all that necessary. Such was the business climate of my father's generation. I say my father, because it was also the generation in which a working woman was an anomaly. The world in which we live today, and the one you will face in the years ahead, is an entirely different species.
Today's world is fluid. On the one hand, many employees change jobs every five years; some even change careers. Given this migratory labor force, many firms have chosen to let the educational arena, particularly MBA programs, do what was originally handled within a company's particularized training and development program. On the other hand, this fluidity is not limited to employees. In today's climate of mergers and acquisitions many companies are constantly reinventing and reconfiguring themselves as well. Regrettably, loyalty and longevity are values of a bygone age. Unfortunately, this is not the end of the challenge.
Technological development, fueled by an ever widening Internet, has created a paradigm shift both in business and in the business of education. The Internet's true impact is not yet fully understood, but what is clear is that it is changing our world. As a manager, it is not uncommon to be called upon to manage in areas that did not even exist when you were in school (e.g. the Internet). Consequently, if you intend to be an effective manager in this fluid world, an MBA is a useful tool to have. But, an MBA from where?
It is an important question. For some American firms, where you go to school is as important as what degree you pursue. Sometimes, even more so . Getting my undergraduate education at Yale taught me that, and Business Week's, October 2 edition: "The Best B Schools," reinforces the reality that where you go to school still does matter. Such schools as Yale, Harvard, the Massachusetts Institute of Technology (MIT), Stanford, Wharton and Northwestern, all have great brand name value. If you get your MBA from such schools, you will have a wealth of opportunities to choose from. However, if you dig deeper, you will learn that while Harvard and Stanford have great brand names and equally great MBA programs, Yale has a great brand name, but its MBA equivalent degree (Masters in Public and Private Management or MPPM) is not as respected as that of Harvard or Stanford's MBA. Still, because Yale's brand name is so great, it seems not to matter that the degree is not as highly valued. As a Yale graduate one still has great opportunities, no matter what degree you pursue. However there is more to the story.
In my conversations with Yale Management school officials coupled with my own observations, I learned that over the years, many Yale students began to feel that nobody really understood what an MPPM was. As such, last year students were allowed to have their MPPM degree labeled as an MPPM or as an MBA. As of the fall 2000, the MPPM is now officially an MBA. Yale did not substantially change the curriculum content. It just changed the name. This demonstrates that at American Universities students can sometimes make a big difference, and it also underscores how important the MBA degree really is.
Many MBA programs seek to appeal to potential students by developing a specialty or by developing strength in a particularly region of United States. For example, the University of Southern California in Los Angeles (USC) has a very strong reputation in the Southern California with respect to its MBA program. Its national reputation as an MBA program provider is not as strong. However, since Los Angeles is one of the most important economic centers in America, to have a strong presence in Southern California is a great thing. We have pursued a similar course here in the Charlotte area, the largest banking center in America. However, USC has a great national reputation with respect to its graduate program in film. On the other hand, the University of California at Los Angeles (UCLA), where I spent several years as Senior Associate Director of MBA Admissions, was ranked in the top ten of business schools in the country (now its ranked 12th); thereby, having a great brand name both nationally and regionally. However, UCLA's graduate school film program is not as well regarded as USC. What does this all mean?
The point of the matter is that in the world of business, particularly the MBA world, perception means a lot. What people perceive as being the case is often what counts. On the other hand, this perception may not match the reality. You might choose a particular MBA program in America because of what you perceive it to be or because of what your advisors perceive it to be. But, you may be disappointed, or it may exceed your expectations when you actually arrive. What can you do? Visit, talk to alumni of the school, talk to current students, do independent research, and of course read the institution's promotional materials (including its web site). Examine where its professors were educated, what is their experience, where do the institution's graduates go? How do they fare in the marketplace? However, this information will make little sense if you haven't figured out why you want an MBA and what you expect your MBA to mean in your career.
You must develop your personal framework through which all information you encounter will be filtered. Before you develop your personal framework, let me warn you. You already have one. Let me illustrate the point by dispelling the first myth that often trips up prospective MBA students.
Myth #1: Those without a business major need not apply. Rubbish.Contrary to popular belief, you do not have to be an undergraduate business major in order to pursue an MBA. In fact, a great majority of the best graduate schools in America prefer a varied mix of undergraduate majors and that an as varied array of work experience backgrounds be represented in their student bodies. Why? It is because the primary method of teaching is through the case method, and the primary method of learning is through collaboration. This stands in stark contrast to schools of law where the method of learning is rooted more in an adversarial process rather than a collaborative one. In plain English, what does this all mean? Let me be more specific.
In a typical MBA course, it is not uncommon for students to examine a particular case study as a means of understanding the key principles the professor deems important. In examining the case, students do not come to the subject matter as a blank slate. Each draws upon their work experience and academic preparation. A person with a marketing background will see things in the case that perhaps a person with a financial background may not. A person with a social services background may see something that a person with a technical base may overlook. However, when all these perspectives (i.e. personal frameworks) are brought to bear on the case, each participating student both contributes and is enriched by the dynamics of the learning process.
While these are indeed generalizations, they are still the predominant learning patterns for graduate business programs in America. It underscores that learning is not just a relationship between a student and the professor. You will learn from each other.
In the final analysis, what is important is to have a reasonable exposure to both quantitative and qualitative elements with a good foundation in reasoning and thinking. However, I am reminded of the words of William James: "A great many people think they are thinking when they are merely rearranging their prejudices."
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