10 reasons why I love Business School - by Vishal Srivastav, 2nd year student at Ross School of Business, UMich

Team getyourMBA spoke with Vishal Srivastav, second year student at Stephen M. Ross School of Business, University of Michigan, to find out why he's loving his time at Business School -

 

In Vishal's words - 10 reasons why I'm loving my time here:

1.  Connections – Business school creates perfect conditions to build lasting connections with smart, qualified and talented people. These are the people you would rely on, professionally and personally, in your post MBA life. You go through a concentrated experience together and that helps forge strong connections.

 

2.  Alumni network – Your class mates are only the tip of iceberg. The real power of B school network lies in its alumni base. Your alumni often serve as your recruiters and internal advocates for you to get your dream job.

 

3.  Fun – This is an important element of life at B school. Fun complements the craziness of B school.

 

4.  Academics – Class contributions of your friends from different backgrounds and industries will help you develop a holistic way of solving problems. Focus on learning, assimilating different points of view and developing a structured thought process, not grades.

 

5.  Diversity – Business school is training ground for working in teams with people from different backgrounds and culture.

 

6.  Efficiency – In an effort to juggle many things at once, you learn how to prioritize and become more efficient. It helps not only in school but in your life outside of work as well. You eventually conquer FOMO and become adept at deciding between competing priorities.

 

7.  Leadership – Barring class lectures, everything else in schools are completely student run. There is more than ample opportunity for every student to gain leadership experience and create an impact on the student community and the school at large.

 

8.  Collaboration – If you feel that your previous job didn’t allow you to collaborate enough, business school would come as a pleasant surprise. You spend a significant time with your study group, project teams et al and develop team and collaboration skills as a result.

 

9.  Entrepreneurship – It is one of the least marketed features of business school. Business schools offer a lot of opportunity and resources (monetary, academic, research, VC/PE network) for entrepreneurs.

 

10. Discomfort zone – B school constantly pushes you out of your comfort zone, which in my opinion leads to real learning. If learning is a motivator for you, B school will help you push yourself in a safe environment.

 

 

Get inspired! Few tips that can help you

Our co-founder talks about the importance of feeling inspired when writing your essays.

Most of you must now be in the thick and thin of writing your essays (if you’re not and are planning on applying this year, it’s time to get cracking!). All of you must have also realized by now that writing essays is no piece of cake. How do you make your story “flow”? How do you write what you are feeling? How do you convey what you wish to convey?

I struggled with the same questions when I was in your shoes a few years back. And yes, I came close to giving up because my essays were just not coming out :) Fact is – Business Schools are looking for folks who can dream big. People who really aspire to change the world. Who have the courage to imagine the impossible, and then make it happen.

And like it or not, they want to see this reflected in your essays.

Now how does one go about doing this? How does one get into that mode when you are truly “in the zone”, imagining yourself to be this all powerful human being who is destined to make a difference? :)

In my case, I believe that looking for sources of inspiration helps. Things that motivate you, make you believe in yourself, realize that there are bigger things to strive for in life. And this inspiration can come from anywhere – from activities you engage in, to things you read, to even the music you listen to. The idea is to get into that “special place” where your essays “just flow”.

Here are a couple of things that I’ve seen work for people. Of course, each individual has his/her own preferences!

1.     Reading biographies – reading how your idols have made it to where they are can be a big source of inspiration. Think Richard Branson’s “Losing my Virginity” or Randy Pausch’s “The Last Lecture”.

2.     Reading news magazines – Magazines like the Economist, The New Yorker, etc., can again help open your mind.

3.     Try fiction – Many folks swear by fiction and comics like Calvin and Hobbes! :) There are many pearls of wisdom hidden in these pieces of literary genius that might resonate with you.

4.     Commencement speeches – try listening to some famous college commenecement speeches. Usually given by folks who have made it big in their respective fields, they can provide a different perspective on how you view life. Some great speeches to begin with – Steve Jobs’ speech at Stanford, JK Rowling’s speech at Harvard, Bill Waterson’s speech at Kenyon college.

5.     TED Talks – I love TED talks for the sheer breadth of intelligence and creativity they bring together in one place. It is impossible not to find a talk on some topic or the other that won’t make you marvel at mankind’s genius! Visit www.ted.com to find out.

6.     Engage in that hobby you love – Don’t just write about it in your essays! Whether it’s photography, hiking, film making, listening to music, cooking – do it. This is what relaxes you, this is what brings out the creative being inside you.

7.     Talk to people you know and admire – whether it’s your manager, your team lead, or even your dad! Talk to them about how they did it. Learn and get inspired :)

8.     Spend time thinking – Believe it or not, this really works for some people! Having a blank mind with nothing to focus on for some time can really work wonders.

9.     Help others – Spend some time helping others selflessly. Whether at office, or your friends, your maid, your maid’s children, or even by volunteering at a local NGO. Doing work to bring joy to others is one of the best uses of your time, and cannot fail to inspire you.

10.  Be happy and believe in yourself – More than anything else, be happy and keep smiling :) Make others happy around you :) Things will happen for you and whatever happens is for the best, so make sure you believe in yourself!

And if the creative juices are still not flowing, find a mentor - someone who can look into your past and suggest ideas from your own past experiences to address in your essays, who can identify your strengths and weaknesses, and push you in the right direction.

All the best!

A typical day in the life of a business school student

As you all take the GMAT and work on your Round 1 apps, we thought it might be a good idea to give you a glimpse into what a typical day in the life of a typical business school student is like J Team getyourMBA asks a current student at Wharton.

7:00am – Wake up

7:15am – 8:00am – Work out at the gym

8:00am – 8:35 am – Get ready

8:40am – Catch the bus to campus. Get into a cab in case you’re late which is often! J

8:55am – Grab coffee (large atleast!) from the café. You NEED it if you hope to stay alert in class.

9:00am – 10:15am – Global Supply Chain Management. We discuss a case on Mattel, Inc. and how they were forced to recall a big lot of toys due to lead traces that could be poisonous to children. Great discussion in class on how best to control quality in your supply chain, especially when each player is not directly a part of Mattel.  Should you punish wrong behavior or incentivize good behavior?

10:15am – 10:30am – Check your mail folder - An offer from a tailor to get your business suit made at a discount for the upcoming interviews, Pricing Policy assignment graded and returned, an invitation with some goodies to the Winter Ball. Walk over to another building for next class

10:30am – 11:45 pm – Venture Capital and Finance of Innovation. Great class discussion on top 5 things investors should look at when deciding whether to invest in a company or not and why – Team? Market Size? Product? Target customer?

11:50am – 1:30 pm – Lunch meeting with Learning Team to finalize marketing case report. Team has 2 Americans, an Indonesian, a German, a Brazilian and an Indian. We are pretending to be Gillette and we have to figure out how we can increase the sales of our razors in Indonesia. How can we do that when many of the men there use scissors to cut their beard?

1:30 – 3:00pm – Mergers and Acquisitions. Great discussion on when to acquire, when to form an Alliance, when to form a Joint Venture.  We discuss Morgan Stanley – Dean Witter merger. Power politics at play!

3:00pm – 4:00pm – Meeting with photography club leadership team to finalize upcoming events and schedule.

4:00pm – 6:00 pm – Grab something to eat and get some work done in the student lounge.

6:00 pm – 8:00pm – Attend a talk on Leadership by a Mountain Guide who has led many expeditions – when do you lead from the front? When do you lead from the back? And when do you lead from the middle? Brilliant talk.

8:00pm – 8:20pm – Walk back home

8:30pm – 10:00pm – Dinner with the ladies of Women in Business Club. A junior wants to recruit for consulting and gets tips from second years.

10:00 pm – 11:00 pm – Celebrate student’s birthday at local pub.

11:00 pm – 2:00am – Prepare case for next day’s Entrepreneurship class on how Red Bull managed to make a dent in the beverages market despite goliaths like Coke and Pepsi in the market. Finish Corporate Valuation assignment of selecting which firms would form good comparables for a given company and why.

2:00am – Sh*#@* forgot to call home again, 3rd day in a row! Mom will kill me. What time is it in India anyway?  Man, I just don't care. Maybe tomorrow, I'm just too damn sleepy right nowwww...zzzzzzzzzzzzzzzzzzzz

WHAT ARE THE OPTIONS FOR ZERO WORK-EX FRESH GRADS, TO GET AN MBA EDUCATION?

HOW MUCH WORK-EX IS DESIRABLE TO HAVE BEFORE PROCEEDING TO AN MBA EDUCATION?

HOW MUCH WORK-EX DO VARIOUS BUSINESS SCHOOLS REQUIRE ME TO HAVE BEFORE APPLYING?

WHAT ARE THE OPTIONS FOR ZERO WORK-EX FRESH GRADS, TO GET AN MBA EDUCATION?

As far as the first question above is concerned, the Jury, as they say is still out on this one, basically because there is no single ‘one size fits all’ answer to it. Perhaps the only one answer that can correctly address this question is “Apply when you feel you are ready for it”. But does that help? Or does it only lead to another, equally puzzling question “How will I know when I am ready?” The only one thing that seems to be clear is that the correct time to apply is different for different people. Some might be ready early in their careers whereas others might be better off waiting a few years more. But what exactly is the way to determine the correct time for any one individual? Well, as I said, the jury is still out on that one.

So, let us get another opinion on it. Business Schools, who actually teach the MBA curriculum are surely the best ones to advise on this. So what do they say? Unfortunately, here again we do not find the consensus which might lead us to the right answer.

Take for example the IIMs in India. They have from the beginning been open to taking early career students for their flagship PGDM programs. The majority of students at the IIMs continue to be fresh Graduates and most others are in the 1 to 3 years category. And the 5+ yrs workex students at the IIMs are still only a small minority. And are the IIM graduates as good at managing businesses as their counterparts from US Business Schools where the avg workex tends to be 4+ yrs and where it is the fresh grads who are the small minority? Well, looking at the track record of IIM grads over the decades, it would certainly seem so. Graduates of these institutions have done as well as those from any other institution, whether they pursued their careers in India or abroad.

On the other hand, most Business Schools in the US for example, do seem to prefer students with more workex. Even though many of them state as a policy that workex is only desirable not necessary, the class composition at most schools tells the real story because very few students at these schools are fresh from college and the average workex is 4+ years.

Coming to the last two questions of the topic for this post – How much workex do Business Schools require me to have before applying, and what are the options if any for fresh grads – you know already that IIM’s in India have no requirement for workex, though they too do give some weight to workex in their selection process, ISB in India asks for 2+ years and most business schools in the US also prefer at least 2 years, even if they do not always say so.

So what are the options for fresh grads? I wrote already in an earlier post on this blog, about MIM programs offered by an increasing number of Business Schools in the US. But what if one wants to join a regular MBA program? Well there is now an increasingly visible trend even among US business schools that some of them, including some top schools, are encouraging fresh grads to seek admission directly out of college. Notable examples are:

·         Harvard: The HBS 2+2 program – you apply while still in the final year of your UG program, get admission and defer enrolment for 2 years, acquire workex during these two years with an assured seat at their regular MBA program after two years.

·         Stanford: Deferred admission program - Here again you get admission while still in college, defer enrolment by 2-3 years and use this period to gain workex, with a reserved seat at the regular Stanford MBA program.

·         Yale School of Management: Silver Scholar Program – This is a total 3 year MBA program where you join the regular Yale MBA class directly after college, complete the first year of the MBA curriculum and then take a one year break from studies to take up a full one year internship before heading back to Yale to complete the remaining one year of their regular 2 year MBA program.

·         MIT Sloan: Sloan simply encourages college seniors to apply directly to their regular MBA program itself, without any workex. As an incentive, they even waive the application fees for these applicants. About 20% of the Sloan MBA class is composed of students without workex so that tells you they are serious about it.

·         ISB: YLP and Early Entry options – Our indigenous ISB has not one but two options for students with less than 2 years workex. The Young Leaders Program (YLP) requires you to apply while still in the pre-final year at college whereas the Early Entry Option is for graduates with less than two years workex. And both options allow for deferred enrolment.

Likewise there are many other business schools in US that offer either deferred enrolment option or accept significant accept significant proportion of the MBA class without workex. While it may not be clear yet, whether these Business Schools are in fact veering towards younger students, maybe they are only experimenting with the idea for some time to determine what works well, the point is that options are available at US Business Schools even for fresh graduates.

Components of your application - III - Essays

Many applicants have complained over the years that they find writing the essays among the most cumbersome part of the MBA app - something they approach with trepidation as an unavoidableburden. But my clear view is that essays should rather be seen as an opportunity to be utilized to its maximum. Let me illustrate with a story.

Early in my career, I worked at a large multi-division, multi-location company. I was in-charge of one of its profit centers. There was a strong internal audit setup wherein auditors periodically reviewed the operations of each profit center, and raised queries about its deficiencies, mistakes and wrong-doings. These had to be replied to by the profit center head. In the end, the auditor's notes, his queries and the division head's responses, altogether made up the audit report.

All of us operations managers abhorred this exercise because it could potentially highlight our mistakes, that too in front of the most senior Directors in the company. The audit report was the one and only report about individual profit centers that it made its way all the way up through the company hierarchy - such was its importance.

But this attitude changed one day, when a senior gave a bunch of us youngsters a completely new perspective. He pointed out that since the audit report was read by all the senior people, who could ultimately make a difference to our careers, we should see them as our direct line of communication to them. He pointed out that no other report we made, including our monthly or annual profit reports, reached them intact. Rather they got aggregated at the location level, or the product division level, and in those aggregate reports, a single individual's performance never stood out. Even our performance appraisals were not always read individually by people at this rarefied level of the company to which the audit reports reached intact.

From then on, we looked forward to the audits and while replying to the audit queries, ensured that all our important achievements, intitiatives and contributions made it into those reports. And as you might rightly anticipate, a few months later a senior director, when he visited our branch, called me separately and I found he actually remembered my key achievements from the last audit report, and in fact appreciated them in front of my local seniors.

The lesson with the MBA application essays is exactly the same.

The application form, resume, etc. force you into a certain format which firstly limits what you can write in them and is also quite similar across candidates. On the other hand are your essays which form the only part of your application which you get to write fully on your own. This is where you can tell your story in your own words, in your own style, and in such a way that you can paint your own picture of yourself for the AdComm. This is where you can truly make a case for why you deserve to be admitted. Your resume gets them interested. Your essays have them convinced.

So go ahead and appraoch your essay writing with the a sense of anticipation, like when creating a work of Art :) Grab the opportunity to speak directly to the AdComm through the essays. A good way to start I found, is to imagine yourself sitting across the table from the AdComm members and get your story down on paper in the same way that you would tell it to them orally. Then of course you condense it because understand that when the AdComm members are taking the trouble to hear you out individually, you too must show respect for their time.

Which is why when writing your essays, always remember - Clear, Concise, Compelling and Authentic.
 

Your GMAT score is not important!

Well, I should amend that I guess because your GMAT score is definitely important, very important. But it is certainly not the be all and end all of a business school application. I am sometimes asked by applicants "I scored XYZ in GMAT. What schools can I apply to?"

It is this applicant with such a mindset that I want to address this post, to say that while your score is important, you must not let it weigh you down if you scored a tad less than you expected. Understand that it is just one of the several factors that the AdComm will evaluate and if you take good care with the other elements of the app like your essays, the application form, your resume and the recos, you can offset a below par GMAT score.

Also, while most aspirants look at the mean or median GMAT scores published by a school, one should also look at the range. So while the median GMAT score in Stanford class of 2014 is around 730, the lower end of the range is around 550. And since most schools display the GMAT score range of the middle 80% of the class only, the actual lowest score to make it to Stanford might be even lower than 550.

But this does not mean that one need not put in the hard work to maximize his or her GMAT score. Remember that each and every element of the full application package must be as strong as we can make it, while retaining full authenticity, because the competition is fierce. The things to remember are:

• One below par element of your application package (like the GMAT score) is not enough reason to give up hope.
• The more profitable view is to evaluate the overall strength of your own application and take that as one of the inputs, along with other inputs like your career goals etc., to choose the correct schools to apply to.

Components of your application - I

 

We would like to take up different parts of your MBA application, in a series of posts on this page, with some suggestions on how one can handle them to their advantage.

 

Let's start today with the Extra Curriculars Activities section.

 

This is one of the most neglected sections of many a resume and MBA applications, whereas it has the potential to become amongst the most important ones. Typically students populate this section with one liners like "Member - school football team", or "Helped organize the college tech fest XYZ", or "Interested in reading Science Fiction" or "Learning to play the violin for the last 4 years", etc. None of these is a bad entry in the sense that it adds some diversity to your profile, something most AdComms would like. And if you have multiple such entries in the extra-curriculars activities section of your resume, it might even be considered good as it gives you a multi-faceted, well rounded personality.

 

But what about "Is it good enough?" Or even, "Could it be better?" Or "Could it actually be good enough to make up for a weakness in some other part of my resume?" The answer to the latter 2 questions - a resounding "YES, it can".

 

To be continued...

Harvard Business School lobs a googly this year

Harvard Business School has lobbed a solid googly this year by asking for just one essay in the MBA App and that too an open ended one - without a specified word length. So how many stories should one write here? What should be the length of the essay? The essay topic is "You are applying to HBS, we can see your resume,school transcripts, extra curricular activities, awards, post MBA career goals, test scores and what your recommenders have to say about you. What else would you like us to know as we consider your candidacy?"

Well, according to us, from the wording of the essay topic it is clear that the AdComm wants to see something other than all the hard facts already presented in the application form, your resume and recos. A good strategy could be to bring out some of your soft skills which otherwise don't come out in your GPA or GMAT score. Use some events from your past - from your work-ex or your college days, even your family life or a vacation you took - which bring out such skills. Take care however that what you write must be clear, concise, compelling and authentic. And while it may be compelling to go into lengthy storytelling, remember that Quality always scores over Quantity in such cases. Try to keep it to within 600-750 words, though this would be very case dependant and could vary significantly. This could be one long story or several short ones but the story style must be brief. Also do not reach or claim more than what you actually did or you will lose authenticity. And finally, howsoever great it reads to you, be sure to get it reviewed by some outsider, someone who can give you an unbiased critique, and ask them if your essay conveys to them, what you started out to convey.