Standardized Testing Continues to Evolve in MBA Admissions

In the world of MBA Admissions, standardized testing has become a lot less, well, standard. Admissions committees used to accept only the GMAT and/or GRE, but more options have opened up in the post-pandemic era including test waivers for past academic or professional performance, and a wider range of accepted tests including the Executive Assessment (EA) and even the MCAT or LSAT. 

The EA is a 90-minute exam, requires minimal preparation, and has historically been used for EMBA admissions. It is a good choice for applicants to full-time MBA programs who have already demonstrated strong quantitative skills through prior academic or professional experiences Today, even some elite schools such as Columbia, Duke Fuqua, and Michigan Ross are allowing students to submit EA scores in lieu of GRE and GMAT scores. 

In addition to the EA, some schools like Virginia’s Darden and NYU Stern are accepting LSAT, MCAT, and Dental Admission Test (DAT) scores. Others, like Georgetown McDonough, will allow applicants to submit expired GRE and GMAT scores. And many top ranked MBA programs are open to accepting the scores from the shorter versions of the GRE and GMAT exams. Chicago Booth, Stanford GSB, and Northwestern Kellogg will all allow applicants to submit GMAT Focus results this year. 

Harvard Business School is one of the few schools that have pointedly said they will not accept GMAT Focus scores for 2023-2024 admissions. And Wharton will accept GMAT Focus test scores dated January 31, 2024 or later, when the GMAT Focus has been merged with the legacy GMAT. 

The chart below shows the standardized tests that each school’s full-time two-year MBA program will accept in 2023-2024. Please note that some schools have not yet commented on when they will start to accept GMAT Focus scores. 

Essay Tips: Harvard Business School

The Harvard Business School just posted the submission deadlines for applicants to the MBA Class of 2026, and confirmed the required essay.

Round Application Deadline Decision Notification

Round 1 September 6 2023* December 6 2023

Round 2 January 3 2024* March 27 2024

*Submitted by 12PM ET

The essay prompt, which remains unchanged from last year, asks: “As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program?” It’s never too early to start planning your narrative response.

At HBS, as with other elite programs, the essay is a critical component of your application. Not only does it allow you to differentiate yourself among a large pool of highly-qualified applicants, but it provides an opportunity to show the character traits that Harvard values. HBS puts a strong emphasis on character and service, with a longstanding mission “to educate leaders who make a difference in the world.” The program also expressly calls out community values including, “trust and mutual respect, free expression and inquiry, and a commitment to truth, excellence, and lifelong learning.” Dean Srikant Datar describes one of his aspirations for the school as “...stretching HBS and its learners beyond notions of merely personal success toward becoming, collectively and individually, driving forces in redefining the role of business in society around the world—addressing inequality, exclusion, climate change, and other intractable problems.”

Begin with a brainstorm. Do not underestimate the importance of this step. Document your experiences, positive and negative, that prompted an evolution in your perspective—you know, those “ah-ha!” moments without which you would be a different student, professional, and/or person today. Then, record those experiences that will show the reader your abilities in innovation (critical/creative thinking and problem solving), leadership, and teamwork, as well as those experiences that reinforced your interest in an MBA program. Capture as many details as possible, paying particular attention to what you thought, felt, said, and did in each situation. Your focus should be on adult experiences (from the start of college and later), though stories from your youth could comprise up to 20 percent of this brainstorm.

During your time spent brainstorming, don’t limit yourself by worrying about a cohesive narrative, the quality of your writing, or the number/length of your stories. Simply focus on collecting those situations that helped to guide your path to this point and impacted your decision to apply to the Harvard MBA program.

Once you have these thoughts on paper, look again at all of your experiences. Start to think about the story you want to tell, and also how you can use your experiences to best position yourself with the admissions committee.

The Outline. As you start to consider how you will anchor and organize your essay, you’ll want to think about your application as a whole—MBA Admissions committees are looking for you to demonstrate MBA-readiness with high potential in the areas of innovation, leadership, and teamwork—so you can use your essay strategically to show those qualities that may not be covered in your other materials. For example, if you have a perfect score on the analytical section of your GMAT and fantastic work experience in an analytical career on your resume, you may wish to use your essay to take the reader on a deep dive into your most meaningful leadership and/or community engagement experience.

Create a draft. Now it is time to start writing. Keep in mind that your essay is memoir, not autobiography. A memoir requires more than a recounting of events from your life. Rather, you must show the reader that you’ve experienced transcendence. Marion Roach Smith calls it the “golden rule” of memoir. She writes, “Memoir is not about what you did. Memoir is about what you did with it.” The experience is not the focus or the reason for the writing, just the vessel for sharing a more universal learning with your audience.

As you write, keep the lessons that you garnered from your experiences as the primary focus. Highlight how you’ve struggled and triumphed and how these experiences have developed you into the person you are now.

And don’t neglect to make it clear why a Harvard MBA is your next step. The question is asking about you (rather than “Why Harvard?”), but you’ll want to write it so that the reader finishes with a clear understanding of why a Harvard MBA is your next logical step.

Review. Revise. Repeat. While there is no limitation on length, we recommend that you target about 1300 to 1500 words. Read your essay aloud noting where you stumble. Make revisions as necessary. Once it reads smoothly, set it down and walk away for at least 24 hours. Then re-read it. Is it you? Is it personal and authentic? You want the reader to see the real person behind the applicant number. While we caution against “oversharing,” being appropriately vulnerable will create connection.

Related:

Essay Tips: The Stanford Graduate School of Business

Essay Tips: Haas School of Business at the University of California, Berkeley

Essay Tips: The Wharton School of the University of Pennsylvania

Essay Tips: Columbia Business School

Essay Tips: The University of Chicago Booth School of Business

Essay Tips: NYU Stern School of Business

Essay Tips: The Yale School of Management

Essay Tips: The University of Michigan Ross School of Business

MBA Students Covered by a Grade Non-Disclosure Policy Take Harder Classes and Participate More in Extracurriculars

Grade nondisclosure (GND) policies, which date back to the 1990s, exist predominantly within an elite group of MBA programs including Wharton, Stanford, and Columbia. They codify a (typically student-driven) collective agreement not to disclose grades to potential employers during the recruiting process, even if they are requested. Proponents of the practice argue that a GND policy promotes collaboration between students and allows them to pursue additional extracurricular experiences, and take harder classes without fear of the impact to their GPA. Critics of the policy say it deprives employers of a key metric for making hiring decisions and discourages students from spending time on academics. 

The Wall Street Journal has previously published study findings examining the impact of a GND policy on student behavior, which shows that both proponents and critics are correct. The study’s authors—Eric Floyd, Assistant Professor of Accounting at the University of California San Diego, Daniel Lee, Assistant Professor of Entrepreneurship at the University of Delaware, and Sorabh Tomar, Assistant Professor of Accounting at Southern Methodist University—reviewed data from one MBA program to compare the choices of full-time students covered by a GND, with those of part-time students, who were not bound by the GND. 

They found:

• Students with a GND spent about 4.9 percent less time per course, compared to students without a GND. However, GND students did generally enroll in harder classes, which meant that their total time spent on academics was not statistically different from their counterparts. 

• GND students were 7.6 percent more likely to engage in extracurricular activities than their counterparts.

• GND students reported lower tenure at their first job post-graduation. They were 7.7 percent less likely to remain for more than a year and 12.8 percent less likely to stay longer than two years when compared to non-GND students.

While the study’s findings provide helpful insight into student behaviors, there is variation in the way the data could be interpreted. “Between the extracurriculars and the difficult classes, what we say isn’t all time spent away from academics is lost time,” said Dr. Lee. “But we can’t really comment on the good or bad effects.” Similarly, Dr. Tomar told the WSJ that the explanation for the reduced employment tenure could be attributed to either the negative effects that grade nondisclosure had on job matching between students and employers or the positive effects that additional time spent on extracurricular activities had on GND students’ networks, thereby increasing their likelihood of obtaining additional job opportunities and offers. 

2022 GMAC Corporate Recruiter’s Survey: Strong Job Market Expected to Continue for Business School Talent

The Graduate Management Admissions Council (GMAC) has released the results for the 2022 Corporate Recruiters Survey. The nearly 1,000 global respondents, which included both staffing firms and corporate recruiters, described a highly favorable hiring outlook for business school graduates. 

Below we’ve highlighted key findings. You can find the full results summary here. 

Hiring Outlook Is Strongly Favorable 

• Most respondents said they expect to hire MBAs this year—92 percent of corporate recruiters and 95 percent of staffing firms. In comparison with past surveys, this represents a highly favorable environment for graduates. 

• 63 percent of respondents expect international demand for business school graduates to increase over the next five years, with just about two percent expecting a decrease in demand. In the U.S. the outlook was slightly less optimistic, but still positive with 46 percent of corporate recruiters expecting demand to increase in the next five years. Just over half, 51 percent, expect demand to remain stable, while about three percent expect a decrease. 

Rebound in International Mobility

• A larger number of recruiters are open to making international hires this year. 56 percent of respondents said they are planning to or willing to make an international hire, compared to just 48 percent in 2021. Just under one-third, 35 percent, said that they currently have plans to make an international hire, compared with 24 percent last year. 

Recruiters Believe Business School Prepares Hires for Success

• Just under 90 percent of respondents reported confidence that business schools prepare students for success within their organization. When asked about the reasoning behind their confidence, most noted that graduates have: strong communication skills (73 percent), versatile skill sets (68 percent), and strategic thinking skills (66 percent). 

• U.S. recruiters ranked as the most confident in business school graduates globally with 50 percent noting highly confident and 42 percent noting confident.

• Recruiters from large, public companies reported higher confidence in business school graduates than those from smaller organizations. Among the Global Fortune 100 companies, 47 percent reported high confidence, compared with 24 percent from recruiters located within smaller organizations (<100 employees). 

• Industry recruiters in consulting and technology were the most likely to report high confidence in business school graduates, whereas nonprofit and government recruiters were the least likely to report high confidence. 

Salaries Remain Steady for MBAs and Increase Amongst Specialized Business Degrees

• While median starting salaries for MBAs are higher than for other new hires, the median planned offers remained consistent between 2021 and 2022. 

• Within the US, recruiters said that they plan to offer higher median starting salaries this year when compared to last year for some business masters degrees: Master of Accounting (median increased 25K compared to 2021), Master of Finance (increased 15K), Master of Data Analytics (increased 10K). Median salaries for Master of Management and Master of Business Analytics remained consistent with 2021. 

• Recruiters also noted that their companies are updating benefits packages to appeal to younger employees; 32 percent of recruiters said that they offer loan repayment assistance, and 40 percent called out the addition of corporate volunteering to their benefits package. 

U.S. Remains Least Likely World Region to View Online and In-Person Degrees Equally

• Globally, respondents in 2022 were more likely to view graduates of online business programs as equivalent to graduates of in-person programs (60 percent) when compared to last year. In 2021 just 34 percent agreed that they view graduates equally. 

• The U.S. lags in this assessment with just 29 percent of respondents agreeing that they view graduates equally (a decrease from 33 percent in 2021). 

• Those who viewed online programs as equal to in-person were slightly more likely to emphasize the importance of specific knowledge/skill areas. Those who did not view the programs equally were more likely to emphasize the importance of interpersonal/soft skills. 

Post-Pandemic, Prospective MBA Students Express Greater Interest in Hybrid Learning and One-Year Full-Time MBA Programs

The Graduate Management Admissions Council (GMAC) recently released the 2022 results summary from its Prospective Students Survey. The survey, which was issued in 2021, garnered over 6,500 responses from prospective MBA students around the world. The resulting summary examines the shifting preferences of prospective students as a result of the COVID-19 pandemic and its impact on the delivery models of graduate management education. 

Below we provide a high-level summary of the findings. The full GMAC results summary is available here. 

While respondents do not feel that online and in-person formats provide the same value, there is growing interest in hybrid models. 

• Globally, respondents are still more likely to disagree that an online and an in-person graduate management degree offers the same level of opportunity in terms of networking (79 percent), value (73 percent), and career prospects (66 percent). But respondents are slightly less negative in 2021 than they were in 2020.   

• Globally, 20 percent of respondents in 2021 prefer a hybrid delivery model, an uptick from 14 percent in 2019. 

• Hybrid programs are particularly attractive to prospective students interested in an Executive MBA, Part-time MBA, or Flexible MBA, although interest in hybrid models increased significantly for all program types between 2019 and 2021.  

Consulting continues to top prospective students’ industry and job function preference lists, though interest in the technology industry continues to grow. 

• While both men and women express interest in consulting, men are more likely than women to select consulting as their industry (+8 percentage points) and job function (+9 percentage points) of choice. 

• Women are more likely than men to express interest in the marketing (+12 percentage points), media and communication (+9 percentage points), media/entertainment (+7 percentage points), and non-profit (+6 percentage points) industries.  

• Globally, interest in the technology industry increased three percentage points from 2019 to 39 percent in 2021. Among non-business undergraduate majors, technology is the most sought-after industry (49 percent). In 2021, a growing number of women expressed interest in technology compared to 2019 (+5 percentage points). 

• Prospective students most frequently list their post-degree career goals as: obtain a senior level position, get a raise/salary increase, obtain an executive level position, manage people, manage projects, and work for a company where they can travel internationally. 

• “Become the CEO of a company” provides a notable gender disparity within career goals. Globally, 31 percent of males list this as a career goal, while just 24 percent of females do. In general, U.S.-based respondents are less likely to name this as a goal (21 percent). 

• In 2021, the number of prospective students interested in changing industries or job functions (32 percent) returned to pre-pandemic levels after an uptick in 2020 (36 percent). Among U.S. respondents, a higher percentage are looking to make a career change (42 percent) which is, again, consistent with pre-pandemic levels (41 percent in 2019). 

International prospective students are more favorable on the use of standardized admissions tests.  

• Similar to pre-pandemic levels, about ten percent of prospective students say that having to take a standardized admissions test may deter them from applying. 

• About 60 percent of international students agree that standardized admissions tests improve fairness and reliability in evaluating applicants, and that they allow candidates to demonstrate academic readiness. Among U.S.-based prospective students, the number agreeing with those statements hovers closer to 50 percent. Similarly, while 63 percent of international respondents feel that standardized admissions tests increase transparency, just 55 percent of domestic respondents do. 

• While about half of respondents (52 percent) agree that test waivers make it easier to apply to a program, fewer agree that test waivers make it easier for applicants to gain admission (44 percent). 

• About 40 percent agree that the criteria to obtain a test waiver does not apply to a large proportion of applicants (43 percent) and the criteria to obtain a waiver is complex (40 percent). About one in five feel that schools should not offer test waivers for the 2021 admissions cycle. 

INSEAD Announces Immersive Virtual Reality Masterclass for Global Executive MBAs

INSEAD Business School just announced that it would be further incorporating virtual reality (VR) into the learning experience of Global Executive MBA students by offering an immersive, masterclass titled “Mission to Mars.” The simulation will refine students’ management skills and provide an opportunity to exercise decision making in situations filled with ambiguity. After the experience, students will debrief their experiences together. 

INSEAD’s announcement follows a study by PWC on the efficacy of virtual reality (VR) based training for soft skills development. The study compared results for three similar cohorts who received training via different delivery mechanisms: classroom, e-learn and v-learn (VR). The results showed that the VR learners were four times faster to learn than classroom learners, 275 percent more confident in applying the material, 3.75 times more connected to the material than classroom learners, and four times more focused than e-learners. 

Ithai Stern, the Academic Director for INSEAD’s VR Immersive Learning Initiative, has previously provided insights into the lessons INSEAD has learned from experiences with VR, in the classroom and remotely, as a learning tool for its MBA and Executive Education students. Similar to the findings of the PWC study, Stern has found VR to be highly effective, and also noted that the best ways incorporate VR are through individual study and case studies. 

“In INSEAD courses, a VR headset, which is responsive to real-time head movements, allows a unique experience for each participant within the framework of fixed content (e.g., a boardroom scenario, a factory tour, or a market). As a result, participants can think through a specific situation in a low-risk, controlled environment, testing decisions and assumptions without being judged by fellow participants—and without being unduly influenced by any higher-ups that may also be in attendance. To benefit the group as a whole, these individual virtual experiences are typically preceded and followed by in-depth shared discussion,” he wrote.

Stern also acknowledges the unique ability of VR to promote empathy within students by placing them into new contexts previously not possible. “For example, it's the first time in history where, when I teach directors, I can literally position the 50 plus white male in the classroom in the body of the only black woman on the board of directors,” he said.

Stern, however, does point out that while VR is an excellent supplement to the business school curriculum, it is not a replacement for the “knowledge, feedback, and guidance” that professors, and classroom discourse provides students after their VR simulations. Other business school leaders, interviewed by the Financial Times on the use of technology in business school, take a more cautious approach to the use of VR suggesting that while it could be useful to simulate a real-life situation, it may be less practical due to its individualized nature and the equipment demands. 

Employers’ Need for Junior Employees Spurs Highly Competitive Summer Intern Market

The Wall Street Journal describes the current recruiting environment as one with unprecedented student leverage. Firms are scrambling to onboard junior employees. According to corporate recruiters, the offers are so plentiful, and many so generous, that they are seeing an increase in students reneging on previously accepted internship offers. Some employers say that they are boosting intern salaries to remain competitive. Others are increasing communications with students who have accepted offers to maintain the relationships. 

Private equity firms are expected to increase intern salaries again this summer. In 2021 the median monthly salary for private equity interns from Columbia, Harvard, and Stanford topped $11,000. This was a particularly notable spike for Columbia students who reported a 2019 median monthly salary of $9,000, and a solid uptick for Harvard and Stanford students who averaged just above $10,000 in 2019. The increases were likely due to pressure from investment banking and consulting firms, where interns made monthly median salaries in 2021 of $12,500 and $13,500, respectively. 

In addition to increasing compensation, private equity recruiters are updating their tactics in response to the competitive market. Ann Anastastia, Vice President of HR for the Americas and Greater China at Advent International, tells the Wall Street Journal, “I have been in private equity for over 15 years and in HR for over 25, and I have never seen anything like this recruiting climate.” She will start the MBA recruiting process much earlier this year, kicking off in the fall as opposed to January. Additionally, the WSJ article notes that private equity firms are promoting themselves more on campus, and engaging directly with students on topics including compensation, work-life balance, diversity, and career development. “In the past, private-equity firms haven’t needed to do that,” said Deirdre O’Donnell, Director of M.B.A. Career Services and Advising at Dartmouth’s Tuck School of Business. 

MBA Programs Position Graduates Well to Repay Student Debt

A Wall Street Journal analysis of federal student loan showed that graduates of almost 98 percent of MBA programs in the US made more money in salary within two years than they had accrued in debt for their degree. At the most prestigious of programs, such as Harvard Business School and Stanford’s Graduate School of Business, over half of graduates were able to repay their federal loans within two years of graduation.

It is important to note that this analysis only includes the salary and student loan debt for students who took out federal student loans. Many students also take out private loans at lower interest rates. Harvard’s Managing Director of MBA Admissions, Chad Losee, confirmed that over half of Harvard’s 2020 graduates (56 percent) graduated with debt, and that the average was $79,000 in combined federal and private loans. 

The high rate of return on investment for MBA programs may be attributed to the fact that many MBA students come into the program with work experience, which drives up the starting salaries they are offered at graduation. Additionally, many who work in high-paying industries such as finance and consulting tend to gravitate towards the degree, and return to those or other high-paying industries. 

Tuition costs and potential debt load, as well as possible starting salaries and cost-of living post-degree may be easy to overlook at first, but they are important to consider during the school selection process. 

Related blogs: Student Loan Forgiveness Receives New Attention Under the Biden Administration

Business Schools Speak Out in Defense of International Students

Early last week, the Immigration and Customs Enforcement Agency announced updated guidelines for the Student and Exchange Visitor Program (SEVP), which will impact foreign-born students studying in the U.S. The updates include the following:

• Foreign students on F-1 visas who take full online course loads will not be permitted to maintain residency in the U.S.

• Students may take a hybrid course load with both in-person and online offerings. The student’s school must certify that he/she is not taking an entirely online course load.

• Students whose course loads change throughout the semester will still be subject to the rule. If a student changes her course selections or is required to switch to online-only at any point in the semester, she must notify the agency within ten days.

• Students whose schools are online-only should consider transferring to a school offering in-person instruction to lawfully remain in the country.

• Students who remain in the U.S. while taking an online-only course load may face “immigration consequences.”

The guidance, which was updated in response to the COVID-19 pandemic for the spring and summer 2020 semesters, to allow for online study, is a reversion back to the previous ruling that SEVP does not allow for a student to take an online course load and maintain U.S. residency. However, given the uncontrolled nature of the pandemic throughout much of the country, schools and students have expressed shock at the update, particularly as many universities are still seeking the safest means to proceed with classes in the fall and must now contend with decreased flexibility. The universities that have publicly responded to the guidelines have been clear in their intentions to support their international students.

• NYU announced that its fall plans would include a hybrid model with an emphasis on accommodating international students. Stanford, which had planned to provide most courses online, also pledged to support its students in finishing their degrees. Columbia University communicated its intentions to “alleviate the negative effect of these new regulations,” as well a plan to provide pop-up centers for students unable to return to campus.

• Princeton, MIT, Duke, California Institute of Technology, and Dartmouth told Forbes that they are reviewing the policy’s implications and noted the importance of international students to their communities.

• MIT and Harvard have filed a lawsuit against the administration stating that the option to offer remote courses during the pandemic is “of paramount importance to universities across the country.” Northeastern University has also joined the suit and Cornell is supporting it via amicus brief.

• The California State Attorney General has also announced a lawsuit against the new policy.

The updated guidelines are thought to be part of the Trump Administration’s push for schools to re-open for in-person instruction in the fall, as well as part of continued efforts to restrict immigration. Last month, the President suspended the H-1B visa program for the remainder of 2020 via executive order. While the order kept the Optional Practical Training (OPT) program in operation, which allows international students to work in the country for one to three years, the H-1B visa is often seen as the goal for OPT participants.  As such, the executive order disappointed business schools as it may serve to discourage international students from studying in the U.S. by making it harder to find long-term employment post-graduation. Last October, the Graduate Management Admissions Council (GMAC) supported by a group of 50 business school deans, published and signed a white paper calling for an increase in H-1B visas to encourage the flow of international talent into the country.

There is a sense among U.S. business schools that the administration’s restrictions on immigration and work visas will only further harm their ability to compete internationally. According to GMAC, almost half (48 percent) of MBA programs saw a decline in applications from international students for their 2019 entering classes.

Record Number of Women to Matriculate to MBA Programs This Fall

New data released by the Forté Foundation and reported by the Financial Times and the Wall Street Journal this week show that a record number of women are enrolled at top MBA programs this fall. At over 50 of the top-ranked business schools in the U.S., Europe, and Canada, women average 39 percent of the class, an increase from nearly 38 percent in 2018 and 32 percent in 2011.

At the top of the list, the Olin Business School at Washington University in St. Louis has almost approached gender parity, with enrollment at 49 percent female. Following closely behind, with 45 percent or more women, are The Wharton School at the University of Pennsylvania and the Ross School of Business at the University of Michigan. There are 19 schools that have 40 percent or more women enrolled, including Harvard Business School, the Kellogg School of Management at Northwestern University, the Yale School of Management, and Duke University’s Fuqua School of Business.

While this increase in female students has been linked to declining overall applications to MBA programs in the U.S., greater female representation has long been a goal of top business schools, with many making significant marketing and outreach efforts geared towards women over the last two decades.

The Financial Times highlighted the women’s ambassador program at Olin, which urges current students and alumni to encourage other women to apply, as well as a Women in Leadership Conference for prospective MBA students at University of Michigan’s Ross. Speakers at Ross’ annual event address issues pertinent to women including creating inclusive communities, becoming a better ally for other female students, and navigating imposter syndrome. The Dean of Michigan Ross, Scott DeRue, noted that at this year’s conference, 42 percent of attendees had designated Ross as their first choice for an MBA going into the event, but afterwards that number increased to 89 percent, suggesting that the content resonated strongly with prospective students.

Elissa Sangster, Forté Foundation’s chief executive, couldn’t be more pleased with the increasing gender balance in business schools. Like most educators, she believes this will improve business education for all by increasing the diversity of opinion in the classroom. “It changes the conversation between students and their tutors, whether talking about corporate strategies or how to manage people.”

Even After Obtaining an MBA, Women and Minorities Continue to See Pay Gap Compared to Men and Non-Minorities

Earlier this year, the Forte Foundation released survey results reporting that a pay gap continues to exist, even after an MBA, between non-minorities and minorities and men and women. The survey, which included 900 men and women who graduated from MBA programs between 2005 and 2017, collected respondents’ pre-MBA salaries as well as their salaries from their first post-MBA position and currently.

Between non-minority and minority graduates, the pay gap improves somewhat over time, decreasing from 24 percent to 16 percent between pre- and post-MBA salaries, and then continuing to decrease to 12 percent on average for the reported current salary. Minority students, identifying as black, Hispanic, or Native-American, did see the largest return on investment from the MBA with an average pay increase of 76 percent. Minority men reported an 84 percent increase between their pre-MBA salary and their first job after graduation and minority women gained a 70 percent increase on average.

Conversely, the pay gap between men and women appears to increase over time. Pre-MBA, women were paid 3 percent less than men, this gap increases to 10 percent for the post-MBA salary, and widens to 28 percent among the current salaries. The pay differential between white men and minority women is the largest with a difference of 52 percent.  Both genders reported a positive return on investment from the MBA with women gaining a 63 percent salary bump after graduation and men seeing a larger increase of 76 percent.

The gender differential may be explained, partly, by a tendency for men and women to gravitate towards different job functions. Women enter marketing and human resources at higher rates than men, while men are more likely to pursue finance, general management, consulting and IT careers. The study shows that finance and operations are the job functions which contribute most to the gender pay gap, with men earning 60 percent and 48 percent more than women, respectively. Marketing is the only job function where women reported earning more than men (2 percent).

Forte Foundation CEO, Elissa Sangster, warned against attributing the entire gap to job functions. “While some salary disparity can be explained by the job functions women choose, there is likely unconscious bias and other factors at play,” Sangster added. "When we asked women MBAs how they intend to address the gender pay gap they’ve experienced, it’s more common for them to leave the company rather than speak about it with their manager, human resources, or company leadership. This is a wake-up call -- companies need to take proactive steps to lessen the pay gap, or risk losing highly skilled women employees."

While there is a tendency to assume that the differences in men and women’s salaries are related to women’s presumed unwillingness to negotiate, research is now showing that this is not the case. Berkeley Haas Professor, Laura Kray says, “We know that people who negotiate get more than those who don’t, but that’s not a ‘women’s issue’—two-thirds of men don’t negotiate. Women are asking, but they’re not always getting what they ask for, and they’re more likely to be told things that aren’t true.”

Kray recently published research with Margaret Lee, a postdoctoral research fellow, sponsored by the Center for Equity, Gender, and Leadership, showing that the differentials in total compensation are even more exaggerated than those spotlighted using salary data. The two reviewed surveys from Berkeley Haas alumni who graduated between 1994 and 2014 and work full-time. The data showed that “while men’s base salaries were on average about 8 percent higher than women’s, it’s in the bonuses, share values, and options—which tend to not be tracked as publicly as salaries—where the men’s salaries outpaced women’s. Overall compensation for Haas women MBAs averaged about $290,000, or about 66 percent of men’s $439,000 average. Kray and Lee also linked part of the pay gap to the fact that men manage larger teams than equally qualified women.”

 The Forte Foundation study also included career advancement statistics and found that men on average have garnered more promotions (2.3 vs. 1.8), have more direct reports (3.3 vs 1.8), and have achieved higher organizational rankings (Director level vs. Senior Manager) when compared with women. There were no statistically significant differences in career advancement for minorities versus non-minorities. Just as Sangster suggested, it appears that bias is at play, whether consciously or unconsciously, which contributes to men receiving management and leadership opportunities, earlier than women, with greater associated pay.

What are Corporate Recruiters Really Looking for in the 2018 MBA Graduate?

The Graduate Management Admission Council (GMAC) recently released its 2018 Corporate Recruiters Survey results, providing insight into current employer hiring demand for MBA graduates.

In 2018, nearly three-fourths of corporate recruiters globally project to hire MBA graduates to fill business development roles. Functions also in high demand world-wide are data analytics (71 percent), marketing (70 percent), and finance (69 percent). The chart below shows the job function recruitment projections for recent MBA hires, globally and in the U.S.

As one would expect, the job functions MBA hires are placed into vary by both region and industry. Below, are a few key industries with the job functions companies plan to fill with MBA hires in 2018.

-          Consulting: consulting, business development, data analytics

-          Finance: finance, investment banking, accounting

-          Health Care: marketing, business development, finance

-          Technology: marketing, business development, data analytics

-          Products: marketing, business development, finance

Globally, recruiters are more likely to hire MBAs into specialist, rather than generalist roles (52 percent and 48 percent, respectively) and into strategic over operational positions (also 52 percent and 48 percent, respectively). In the U.S., recruiters are equally likely to hire MBA students to fill specialist and generalist jobs and just slightly more likely to place an MBA into a strategic role over an operational one (51 percent and 49 percent, respectively).

Delving more deeply into the specific skill-sets recruiters are looking for when hiring MBAs, a Financial Times survey published in late 2017 asked 48 leading employers what skills they want in MBA graduates, and what skills they have a hard time finding.

The most important skills named by these employers included both soft-skills and strategy. Three of the most important skills, however, were also listed among the least difficult to recruit for: networking, solving complex problems, and working with a wide variety of people. The least important skills were function-specific. And the most difficult to recruit for skills were not listed among the most important, but included a cross-section of disciplines.

Key Take-Aways

Both the GMAC and Financial Times surveys provide telling information on how recruiters classify and evaluate MBA candidates. Begin to think like a recruiter. It will be immensely helpful to you as you embark on your management studies.

1.       When considering your career prospects, you should first define your desired role in terms of:

a.       Specialist or Generalist;

b.       Strategic or Operational; and

c.       Job function

Having clear insight into your desired role will help you to find companies and jobs that offer the best fit for your goals. Additionally, knowing precisely what you want in your post-MBA role will help you to develop your elevator pitch and articulate your career vision clearly as you network and interview.  

2.       Staying abreast of recruiting trends by function, as well as highly coveted and/or difficult to recruit for skills can provide insight on areas where additional experience can help you to differentiate yourself. For example, data analytics is not only a function where hiring is very active for MBA recruiters, but also a skill that has been named as difficult to recruit for. Gaining some experience in this area may help to set you apart in interviews, even if this is not the primary function for which you want to be hired.

3.       Consider how you are highlighting not only the most important skills, but also those that are named as difficult to recruit for in your resume, elevator pitch, and interview responses. While your resume should list your specialized skills, this data suggests that highlighting soft and strategic thinking skills may better serve you in those precious networking and interview minutes with potential employers.

4.       Finally, think through your differentiating factors and experiences. Recognize that some skills are easier to recruit for than others, and make sure that you’re aware of and highlighting experiences, coursework, and skills that make you unique among the general MBA population.

MBAs Looking Away from Financial Services and Towards Companies that Offer Better Work-Life Balance

The Wall Street Journal recently published an article examining the “battle for MBA talent,” which looked at current trends in MBA graduate employer preferences. Authors, Laurence Fletcher and Pat Minczeski found that Wall Street is no longer as appealing to MBAs as consulting and technology firms, despite banks’ increasing starting salaries. “The share of full-time M.B.A. graduates from the top 10 business schools accepting jobs at financial-services firms dropped between 2012 and 2017 from 36 percent to 26 percent, based on a weighted average calculated by the Journal. The share accepting jobs in technology rose from 13 percent to 20 percent in the same period. Consulting edged out financial services as the top draw in 2017, as the choice of 29 percent of grads, up from 27 percent in 2012.”

The same article quotes Jean Ann Schulte, director of employer relations and recruiting services at MIT Sloan, who said “Over the last ten years we’ve had an almost complete flip between finance and technology.” In pointing to the working hours typical in the banking industry, she went on to say, “You can have a lucrative career without those lifestyle costs.”

An analysis published in Forbes by John Byrne earlier this year, which examined the average working hours for MBA graduates in various industries, supported the theory that MBAs are increasingly drawn to companies that offer better work-life balance. He found that, while overall, the median work week for MBA graduates is 54 hours per week, financial firms made up six of the top ten companies with the longest working hours. MBA graduates working at Goldman Sachs averaged 86 hours per week, followed by Barclays (73 hours), J.P. Morgan (72), Morgan Stanley (70), Credit Suisse (70), and Fidelity Investments (68).  Consulting firms round out the top ten, with average hours worked ranging from number three, McKinsey & Co. with an average of 72, to A.T. Kearney and Boston Consulting Group with averages of 63[1]. Bryne goes on to highlight that the MBA jobs with the lowest average working hours are at technology firms and large corporations. “MBAs who work for Microsoft average just 44 hours a week, while those who toil for Apple put in 52-hour weeks, a couple of hours below the median. Facebook MBAs average just an hour a week more at 53 hours, while Amazon MBAs hit the 54-hour a week median working for the e-commerce giant.” Those working for IBM, PepsiCo, and 3M company worked just under 45 hours per week.

Byrne then calculated hourly wages for various sub-industries and his analysis revealed that hedge fund and mutual fund employees earn the highest hourly rate at $129.46/hour. The average MBA makes about $75/hour. As an industry, high-tech placed third and fifth for e-commerce and software respectively, validating the supposition that technology companies may appeal to MBA graduates who value work-life balance, in addition to high pay and interesting work.

Some corporations need to do a better job addressing quality of life concerns if they want to recruit top MBA talent. And current MBAs considering various industries, corporations, or even offers should compare compensation alongside workload expectations in order to achieve both their career and lifestyle goals.  

[1] See full list here: https://poetsandquants.com/2016/06/17/mba-envy-not-know-hard-work/2/

MBA Employment Trends and Projections

Demand is high for recent MBA graduates. In 2017 in the U.S. and Canada, technology firms increased year-over-year MBA hiring by 22 percent and consulting and financial services firms increased hiring by 7 percent and 4 percent respectively. The same report (QS Top MBA Jobs & Salary Trends Report 2018)  projects that overall MBA recruiting in the U.S. and Canada will continue to demonstrate robust growth in 2018 (7 percent) and marginal growth in 2019 (2 percent).   

Technology: The growth in technology firms’ MBA hiring corresponds with reports that Amazon is hiring about 1,000 MBA graduates per year, almost double that of the next largest MBA employer, consulting firm McKinsey[i]. And the growth isn’t expected to slow in 2018. The QS Top MBA Salary Trends Report projects that recruiting in the U.S. and Canada by technology firms will continue growing in 2018 (15 percent) with more marginal growth predicted for 2019 (two percent).

In addition to Amazon, Microsoft and Google also recruit consistently within MBA programs, but with lower overall hiring. It is worthy of note that, among the Top 10 programs (US News and World Report), the largest percentage of 2017 graduates who accepted positions in the technology industry came from Berkeley Haas. 

Consulting: Consulting firms recruit a large percentage of MBA graduates (approximately a quarter to a third of each class at Top 10 MBA Programs) and this is expected to continue. The QS Top MBA Salary Trends Report projects that recruiting in the U.S. and Canada by consulting firms will increase by 15 percent in 2018 with a slight dip to 7 percent in 2019.

McKinsey, the second largest employer of MBAs, is the top employer of MBA graduates at Northwestern Kellogg, Chicago Booth, and Columbia Business School. Following McKinsey in MBA recruiting are Bain and Company, The Boston Consulting Group, and Deloitte.

At Stanford, the percentage of graduates securing roles in consulting is lower but trending upwards.

Finance: Developments in technology, political uncertainty, and greater competition from technology and other firms, has negatively impacted MBA recruiting by financial services firms. Wharton, as well as Chicago Booth, and Columbia Business School have experienced recent employment dips in the sector. According to a 2017 MBA Employment Survey by Training the Street, students reported lower interest in working for Wall Street and expressed wanting to explore options with companies, such as boutique banks, that may offer a higher quality of life.[ii]

The Salary Trends Report projects another year of modest growth for the industry in 2018 (4 percent) with a slight decline predicted for 2019 (-1 percent). 

[i] https://poetsandquants.com/2017/10/04/amazon-now-hiring-1000-mbas-a-year/

[ii] https://www.bloomberg.com/news/articles/2017-08-09/record-percentage-of-mbas-don-t-want-to-work-on-wall-street

The Wharton Interview: Excel in the Team Based Discussion

An invitation to Wharton’s Team Based Discussion can be as nerve-wracking as it is exciting. But with preparation and the proper mind-set, it can be an excellent opportunity to demonstrate your ability to think on your feet and respond under pressure. To ace the interview, consider the following tips:

1. Prepare thoroughly. After you receive the scenario, create a proposal and know it inside and out. Practice your presentation, out loud. Present in front of a mirror, or a live-audience of friends. Be sure that you feel confident about your ability to present your idea in a relaxed way, showcasing how you thought through the exercise. While, you don’t want to memorize your presentation word-for-word or sound overly rehearsed, you do want to be able to describe your idea in an articulate and conversational way. Your interview day may include other activities, such as attending a lecture and/or interacting with current and prospective students. You will want to be confident prior to arriving on campus with no need for last minute prepping.

2. Be prepared to explain and answer questions on your proposed idea. You can do this by considering what questions may arise from your proposal and writing out your responses to them. The more people you can share your idea with and collect questions from, the better. After working with an idea for a long period, it becomes harder and harder to poke holes in it. Let your friends, co-workers, or parents help you with this process.

• To help you start, make sure that you are comfortable responding to the following.

1. What are the beneficial outcomes of your proposal for students? For Wharton?
2. What are the risks of your proposal?
3. What assumptions are you making?
4. What are the drawbacks or limitations of your idea? Why are these acceptable?

• Be able to articulate the “why?” behind all the components of your proposal, as well as the “why not?” for other potential possibilities. This is important because (most likely) your proposal will not be selected. However, if you can find other students who have a similar “why?” as the foundation of their ideas, it will help you to collaborate with them and contribute to the discussion.

3. Prepare yourself to provide meaningful input to the discussion by continuing to be well informed of international business news. The Economist is a good, wide-reaching source for this. While there is no expectation that you will be an expert on everything, you should be conversant in current events and be able to make high-level social, political and economic observations about others’ proposals.

4. Be a team player. This cannot be stressed enough. While there is an aspect of competition to the interview, the team-based discussion is an opportunity to show your collaborative nature. Don’t try to “win” by pressuring the group to select your proposal. Instead, demonstrate how you will fit into the MBA community by being inclusive and showing leadership, humility, and adaptability. Articulate your thought process clearly, be positive about others’ ideas, continue to move the group forward by summarizing ideas, and question respectfully. Remember that the point of the exercise is to drive towards a strong team outcome; the better the team interacts together, the better all of you look individually.

5. Day-of tips:

• Wear a business suit.
• Feel free to bring notes, but do not read them directly or rely on them for more than a memory trigger.
• Introduce yourself to other prospective students and work to build a friendly rapport prior to the interview.
• Prepare three to five questions for the evaluators during the wrap-up portion of the interview.
• As much as possible, relax and try to enjoy the experience. This could be representative of the dynamic you’ll live in for the next two years. Ensure it feels right to you.

Using Recommendations to Strategically Enhance Your MBA Application

While MBA recommendation letters typically will not make or break your admissions decision, they can reinforce the personal brand you’ve presented throughout your application. We encourage you to use recommendations strategically so that they validate and expand upon key themes already introduced.

Selecting Your Recommenders

We advise selecting recommenders who can comment on your post-graduate, professional experiences and accomplishments. Recommenders should know you well and be able to provide detailed insight into working with you, which includes assessing your professional skills and personality traits. This intimate knowledge of your abilities is significantly more important than the job title of your recommender.  The one exception is if you have a senior colleague with significant influence at the school to which you are applying who would be willing to serve as a recommender.

Select recommenders that will provide a well-rounded view of working with you, though you should elect to have each provide a slightly more nuanced focus on a character trait that you exhibit and have spoken about in your application (i.e., leadership and teamwork).

Taking a Strategic Viewpoint

As mentioned, it is critical for recommendations to validate and enhance the existing application content. As such, read through your essays and make note of traits that you are highlighting for the admissions committee, then determine which recommender would best be able to write anecdotes about you exhibiting those traits. Additionally, if you see gaps in your application, you may choose to close those gaps using the recommendation letters.

Setting Your Recommenders Up for Success

Most importantly, provide each recommender with enough time to meet your request. We suggest that you allot two months between making the request and the submission date.

Provide a portfolio of information to each recommender that includes the following information:

• School names, recommendation questions, and submission date(s)
• Method for recommendation submission (e.g., online via link)
• Background information and your future career goals
• Sample recommendation letter (customized)
• Illustrative anecdotes from your work together (customized)

The sample recommendation letter and illustrative stories that you provide should be unique for each recommender and should highlight the qualities you are wanting the recommender to expand upon. These inputs will allow you to subtly influence the recommenders’ output and will ensure that the recommendations include concrete and varied examples that reinforce your existing application content.

The timely provision of this portfolio of information will reinforce to your recommenders that you appreciate their time and are serious about your applications. It will also provide much needed direction that will allow them to allocate their time wisely in support of your efforts.  

After the recommender has submitted the recommendations, be sure to thank him/her for spending time in support of your application.

Frequently Asked Questions

I have a great relationship with my college advisor, would it be appropriate to use her as a recommender?

For entry into business school, it is best to use professional references who can speak to your work experience and skills acquired.

What if I don’t feel comfortable telling my direct supervisor that I am submitting applications to business school?

While it is preferable to have a recommendation from a direct supervisor, it may not always be an option and schools are understanding of this fact. Do attempt to have a former boss, professional colleague who is superior to you on an org chart, or someone who knows you in a more professional context write a recommendation. In some cases, this could include someone from a volunteer activity where you demonstrate teamwork and leadership skills.

How many recommendations is it appropriate to ask a recommender to write?

While this depends on how strong your relationship is with the recommender, our general rule of thumb is to ask a recommender for no more than three recommendations per round. This prevents the recommender from having to meet a burdensome number of back-to-back deadlines.

Is it necessary to get specific recommendations written for each school?

While ideally you will get your recommenders to address each recommendation topic directly, it may be necessary for him/her to write a single recommendation that addresses all the questions from your prospective schools together. Many schools have similar or shared questions for recommenders making this feasible. 

The GMAT V. The GRE: Which Test is Best for You?

For the past two years, respondents to the AIGAC MBA Applicant Survey have reported that the standardized test is the most challenging component of the MBA application. While there is no way to completely defray the stress associated with the GMAT or GRE (the top 50 business schools accept both), it is helpful to think critically about which one will provide you the best opportunity for success.

At Apply Point, we generally make the following recommendations:

You might prefer the GMAT if:

• Your strengths are quantitative, analytical
• You are adept at interpreting data presented in charts, tables, and text to solve problems
• You know that you want to attend an MBA, or business-related program, such as a MS Finance.

You might prefer the GRE if:

• Your strengths are verbal, writing
• You want to keep your graduate school options open. The GRE is accepted at most graduate programs, including a couple of law schools.

In Kaplan’s 2016 Survey of Business School Admissions Officers, 26 percent of admissions officers reported that those submitting a GMAT score have an admissions advantage over those who submit a GRE score. However, 73 percent said that neither exam has an advantage. In 2014, Harvard Business School’s Admission Director shared that the school looks carefully at the score components in combination with the student’s transcript and resume. As such, prospective students should use the test strategically to fill in any “gaps” or answer open questions that may stem from their transcript and/or work experience. For example, an applicant with an undergraduate degree and work experience in finance may need to bolster their application with strong verbal scores, while a communications major will want to demonstrate his/her ability to handle the rigors of the quantitative coursework in the MBA by providing a strong quantitative score on the GMAT/GRE.

Above all, an applicant should take the test they feel most comfortable with and are most likely to succeed on. Taking a diagnostic exam of each is a good place to start.

MBA Application Submission: Is There an Optimal Deadline?

When considering the most beneficial timing for your MBA application submission, keep in mind your school preferences, financial need, and the amount of time you can devote to crafting the most compelling application. We’ve examined the pros and cons of the various admission rounds and provided the U.S. News and World Report’s Top 15 ranked schools and their application deadlines below.

Rolling Admissions: Only a few top-tier MBA programs offer rolling admissions, including Columbia University and UCLA. This means they provide admittance decisions to students as the admission committee reviews the application, rather than sending out a batch of decisions on a pre-determined date.

Apply Point Recommendation: Prospective students interested in a school with rolling admissions should submit their application as early as possible. Seats in the incoming class are continuously being filled.  However, it is critical to ensure that you have taken the necessary time to develop the most compelling content possible. Rushing it could result in a lower quality application.

Early Action / Decision: While some programs offer non-binding Early Action application rounds, such as Dartmouth, other schools such as Columbia and Duke offer a binding early application round. The binding programs will ask a prospective student, upon acceptance, to withdraw any outstanding applications, and submit a commitment letter to the school.

If a prospective student is fully committed to attending a particular MBA program, regardless of outside opportunities, financial or otherwise, it can be extremely beneficial to apply in the early decision round.  This is because admissions likelihood is significantly higher. Schools look favorably on commitments to their program, which also help to increase a school’s yield.

It is important to remember that both binding and non-binding early applications are due at the beginning of the admissions cycle. Thus, prospective students will need to plan accordingly to finalize their applications for submission. Additionally, for binding early decision programs, merit-based scholarships are less likely.

Apply Point Recommendation: We generally recommend our prospective students keep their options open by applying in a first or second round rather than taking advantage of the binding early decision programs. But, if the prospective student is 100 percent committed to attending a particular program for personal or professional reasons, and they are comfortable forgoing any scholarship money, the binding early decision may be a good match.  

First Round / Second Round: These two rounds, in general, are created equal. Submission by a prospective student within either of these rounds will allow an applicant to be considered for merit-based financial assistance. Additionally, a good proportion of the incoming class seats are still available.

Apply Point Recommendation: If a prospective student is ready to submit the best version of his/her application prior to the first-round deadline, we would recommend submitting in the first round. If this isn’t the case, we will always counsel applicants to take additional time to submit a stronger application.

Third Round: This is usually the last round prior to the close of the admissions period. It is generally the most competitive round as there are fewer seats available. Depending upon the school, this round may also leave students unavailable for consideration for merit-based financial awards.

Apply Point Recommendation: There are very few cases where we would recommend applying at this point in the admissions cycle. It puts the applicant at a disadvantage. However, if the prospective student is unable to submit in rounds one or two, they have a very compelling application, and they have no need for financial support, they may still be successful.

Every prospective student has a unique situation that should be considered when determining what round to put forth his/her application to an MBA program. Thus, advance planning and an awareness of all the deadline options is crucial when crafting a winning application strategy.

Innovation is Key. Is Graduate Business Admissions the Exception? Part II: Assessing Professional Competence

In 1943, when the first Executive MBA Program yielded a class of 52 students, business school admissions processes largely mirrored those practiced in the Ivy League.  Applicants completed a personal facts section and clearly outlined their extracurricular and professional activities.  Recommendation letters, written by persons who knew the applicant well and could speak to their character, were sent to the institution.  The applicant completed personal essays so the admissions committee could gauge the applicant’s aptitude for leadership.  And, finally, the interview would look at the more subtle indicators of future success.  Academic achievement was just one of the 4 pieces.  Was the admissions committee downplaying the value of intellectual accomplishment?

The answer is yes, because it was decided that pure intellectual prowess does not, alone, predict future success.  Factors, unrelated to intellect, like motivation and social skills were also considered crucial. Today, not much has changed.   The admissions process is nearly identical to the one used by the first student’s at Chicago’s EMBA.  This is because MBA programs have never been looking for just good students.  They are looking for leaders who will continue their positive trajectory of success after the program is complete.  Like the officials of the Ivy League, the MBA admissions process is not simply a matter of academic brilliance.  Admissions committees want a student body with a diverse variety of talents, qualities, attitudes and backgrounds. 

The question, then, is not whether the goals of the admissions process are out of line.  The question is whether or not the admissions tactics employed by MBA programs are effective in evaluating top management potential.  Let’s examine each piece of the puzzle.     

 Assessing Professional Competence: Recommendation Letters and Resume

The quality and quantity of an applicant’s work experience is key when determining top management potential, so a polished resume is an absolute must.  But, what about recommendation letters?  Do they really help to set an applicant apart from the pack?  In nearly every circumstance, an applicant will choose a recommender who will gloat about their strengths and minimize or barely mention any perceived weaknesses.  In the competitive world of admissions, choosing a recommender, who will paint the picture of an all-star, seems to be the smart thing to do, but is this really a productive process for admissions committees?  Isn’t there a better way to gauge top management talent?

Evan Bouffides, Associate Dean and Director of MBA Admissions at the Olin Business School at Washington University in St. Louis, says that while recommendation letters may serve as a point of differentiation for executive business programs, full time MBA admissions is a different story.  “We no longer require recommendation letters in our full-time MBA application because we found the letters didn’t provide us with a point of differentiation.  More often than not, he says, I thought a letter’s content did not provide honest insight about a candidate.  I could also never be completely sure that the name signed at the bottom was the writer of the recommendation.”

Rather than doing different, when we innovate, we do the same better.  The ultimate goals of MBA admissions committees will remain the same, but as future students and alumni of MBA programs, if we can encourage constant innovation in the selection processes of our classmates, our academic experiences will be richer and the programs, from which we graduate, stronger.

The Admissions Essay Part II: Equal Parts Memoir and Strategic Communication

For many applicants, the essays are the most daunting part of the admissions process.  The task of writing is arduous enough, but then there is the reality that application essays must be part memoir – pieces that express your individuality and unique experiences, and part strategic communication – pieces that also impart your knowledge and fit with the institution, along with your leadership and innovation potential.   In Part II, I am going to address the importance of research, the jargon you must do away with, and the conclusion.

Remember, the first thing to remember is simple.  You are the writer and the admissions director is the reader.  What keeps you reading through newspapers, magazines and books?  Important to consider, the qualities that maintain your interest will be some of the same ones that engage your admissions director and help you make that memorable connection you are striving for.

Research:

Conduct extensive research about the institution to which you are applying, so you are able to make the connections admissions directors are looking for.  Think about why the school in question is a strong choice, given where you are coming from and where you want to go.  You must get specific, but don’t over explain what the reader already knows or can figure out.  Admissions directors know a lot about their institution, so they don’t need a long list of classes or clubs you’ve regurgitated from their website.  They want to know why you are interested in specific activities and how you will be proactive in their community.  Talk to the school’s professors and career services professionals.  Visit the school and have lunch with current students.  In order to sound authentic, you must gain first-hand experiences investigating the program you claim to be so passionate about.

Get Rid of Jargon:

You want to sound like a confident leader, so don’t write like you’re not.  Good writing is concise and clear so it is best to avoid sentences cluttered with pompous jargon words like incentivize, alignment and criticality.  Readers identify with people, rather than concepts, especially if they are esoteric principles common only in the lives of chemical engineers or air force pilots.  Admissions directors don’t want to read about the measures being facilitated at the ground control station if there no human element or universal message that will move your candidacy forward.  If you are trying to explain a complex process, relate it to something we can all understand and remember, as Zinsser says, “A simple style does not reflect a simple mind.” 

The Strategic Communication:

As you begin to create your narrative, you will face the reality that an admissions essay is, indeed, a strategic communication, a piece that must communicate your leadership and innovation potential in a carefully crafted way.  The best place to start is a blank document with empty bullet points.  Think about your most meaningful experiences working in and managing teams, investigating and presenting innovative ideas that improved department efficiency or challenging the group consensus.  There are no word limits in brainstorming, so let your thoughts go.  Over time, you will be able to narrow your list to specific examples that demonstrate the high quality of your professional experience, poignant anecdotes that will serve your narrative well.  

The Conclusion:

Just as the lead’s objective is to push the reader into the paragraphs that follow, your conclusion should bring the reader back to a memorable moment in your opening sentences and, simultaneously, take them somewhere else.  A thought-provoking close will be remembered long after your file is off their desk.  As a former admissions director, I would read hundreds and hundreds of essays in any given year and, still to this day, I will never forget the gripping honesty in a conclusion written by a former officer in the military, regarding his account of a tragedy that took the lives of nearly half the men in his platoon.  Unafraid to admit his lack of heroism, his closing remarks about the harsh reality of war, left me stunned.  I realized then I could relate to and remember those applicants who were compelling and human, rather than those who tried to construct a perfect façade.

I’ve often heard my clients refer to the business school admissions process as ‘grueling’ or ‘maddening’.  The mere thought of essay writing brings them back to the college composition class they dreaded or their article in the school newspaper mocked by their peers.  In a system where test scores and transcripts can only take you so far, some of the most powerful tools you possess are words.  Use them well.