5 Common Fears About Applying to HBS Dispelled
Harvard Business School consistently ranks as the top MBA programs in the world. It can be daunting knowing that when applying – especially when just 10% of applicants are ever accepted into the program. What can you do to boost your odds of getting into the “West Point of Capitalism?” Bankole Makanju, a Harvard MBA grad, recently discussed five major concerns he had when applying to HBS and how he overcame them.
1) Not Being Interested Enough
When applying to business school, many applicants fear that their personal background may not match the “preferred background.” Makanju studied Electrical Engineering at the University of Lagos and spent three years in management consulting work across Africa. He says he was worried his background wouldn’t match the one the HBS admissions committee was looking for.
“I hadn’t studied outside Nigeria and most of my work experience was local,” he says. “Were the things I had done ‘impressive’ enough? I felt like all I did was go to work, do a good job, and go home every day without a compelling ‘here’s how I saved the world’ story.”
Yet, as he went through the application process, Makanju says he made an important realization: he had a story to tell and it was his own story. “I learned that the best thing I could present was myself and not a perceived image of what I thought the good people at HBS Admissions wanted to see,” he says.
His advice to applicants is to be themselves and to spend time reflecting on what experiences make you unique.
“Ignore the voice in your head saying you are not impressive enough to apply,” Makanju says. “Resist the urge to embellish. Put your best foot forward in the application. That way it’s easier to live with the results, whether you get in or not.”
2) Not Being Able to Afford an MBA
Financial feasibility is a big worry among many applicants, but Makanju says HBS actually offers “very generous” need-based scholarships.
“I learned more about financial aid at HBS and realized it’s hard to find anyone who gets in and doesn’t attend because they cannot afford it,” he says.
According to the HBS website, 50% of HBS students are eligible for need-based fellowships. The average one-year fellowship award for students is $37,000.
Makanju says applicants shouldn’t let financial fear get in their way.
“Worry more about getting in,” he says. “HBS, through fellowships and other aid sources, will help you figure out how to make the numbers work. There are also external fellowships available that you can explore.”
3) Difficulty in Learning Business Concepts Through the Case Method
One of the highlights of studying at HBS is learning through the case method. According to HBS, “the case method is a profound educational innovation that presents the greatest challenges confronting leading companies, nonprofits, and government organizations—complete with the constraints and incomplete information found in real business issues—and places the student in the role of the decision maker.”
Students can expect to read 500 cases during their two-year HBS MBA. Often times, the case method requires heavy student participation.
For Makanju, his main worry was that he’d have difficulty learning through the case method. “I like intellectual discussions but I was skeptical about the potential for real learning through the case method,” he says. “All I had done up till my MBA were class lectures.”
While the case method may require more work than a traditional method, Makanju found that he got more out of it.
“I found that learning concepts rooted in real-life examples solidified my understanding. It is one thing to listen to a professor explain the intricacies of, say, deferred tax assets, but it stays with you longer when you learn it in the context of a real-life business decision and speak to the case protagonist,” he says.
4) Not Fitting into the HBS Community
HBS has a total enrollment of roughly 1800 MBA students each year. According to HBS, Class of 2017 students came from 64 countries and 135 international undergraduate institutions. It is tough enough going to business school for the first time, but experiencing America as an international student added another layer of complication. This was Makanju’s fear.
“Having lived in Nigeria all my life, I was a bit worried that I wouldn’t fit in,” he says. “I assumed I wouldn’t get all the American references in conversation and I’d be an outsider, only hanging out with other international students. Not true.”
Contrary to Makanju’s initial beliefs, his unique background actually helped him to fit in.
“There are people here from all over the world, and they are different and unique beyond their background or what they did before their MBA,” he says. I found it easy to connect with people on many different levels…be it through my section, industry interest groups like the Venture Capital and Private Equity Club, or on travel during FIELD Global Immersions. There are many opportunities to connect and build deep friendships with your classmates. And I have been fortunate to make friends for life at HBS.”
5) Struggling to Make a Career Transition
Makanju also feared an MBA would simply put him in a “business analysis” box and keep him from exploring new industries. Rather, he found that HBS offered him several resources to explore new career opportunities.
“HBS has a strong brand, vast alumni network, and a tireless career services team that I relied on to get interviews for and ultimately secure a private equity internship over the summer,” he says.
Makanju advises applicants to not let their fears get in the way of their MBA experience. For him, HBS has played a special role in who he’s become today.
“There’s no doubt that applying to HBS was intimidating,” he says. “I’m grateful to the community of people who helped me overcome my insecurities and recognize that I had a perspective worth sharing. I can’t imagine not being here on campus today.”
Sources: Harvard MBA Voices, Harvard Business School, Harvard Business School, Harvard Business School
A Human Approach To The MBA
In October, a Japanese journalist died from overwork after logging 159 hours of overtime and only taking two days off in the month leading to her heart failure.
While karoshi (death from overwork) has notoriously been a Japanese labor issue, its implications also relate to the stigma of the MBA in western countries.
Thomas Calvard, a lecturer in human resource management at the University of Edinburgh Business School, recently published a Financial Times article discussing the danger behind overworking MBAs and how taking a human approach might be better for everyone.
“In business schools across the world, candidates continue to run the risk of becoming MBA stereotypes — laboring under the impression that their success in this alpha dog-eat-dog world hinges on being 100 per cent ‘on it’ 100 per cent of the time,” Calvard says.
A Culture of Blame
The stereotype breeds an unhealthy culture of placing blame on students themselves who, he says, are “stressed, over-tired, or not getting on well with classmates.” The culture, in turn, tells students they need to be more “resilient” and deal with the challenges because an “individual’s wellbeing is no one else’s responsibility.”
At the University of Edinburgh Business School, administrators are challenging the stigma by creating a diverse program. The university website markets a “boutique experience” in its MBA program, where students can expect to “develop deep, life-long professional and personal networks in a small cohort with constant interaction.”
Calvard says the institution’s approach starts at the recruitment stage.
“From the very early stages of recruitment, which is handled personally by an MBA recruitment manager, it is not a process that pits candidates against each other,” he says. “Rather, it is about building a boutique learning environment and a close community among the cohort that is inclusive and supportive.”
A Human Approach
Rather than pitting individuals against each other in a competition, Calvard says business individuals, institutions, and companies need to take a new approach: see each other as human.
“Wellness and self-improvement are things we should all strive for, but in our obsession to take on the world — and beat it — we often neglect one salient factor. We are only human,” he says.
Studies have shown that unhappiness and stress breed less productivity. In the UK, the CIPD (Championing better work and working lives)—a non-profit championing better work and working lives—found that longer working hours contributed to a 41% increase in mental health problems.
Calvard says MBA students need to begin to see themselves and others as human and “realize it is OK to be vulnerable, take a night off once in a while, and to not have all the answers.”
The solution, Calvard says, is to build inclusive environments “where everyone feels secure and adequately supported.” Only then can individuals develop properly to become leaders.
“Leaders need to recognize what really motivates themselves and those around them,” Calvard says. “All the theory and strategy MBA students learn does not count for anything if they cannot connect with the people they lead. Because they are human too.”
Sources: Financial Times, The Guardian, CIPD, University of Edinburgh
Microsoft Wants To Hire Even More MBAs
Microsoft has been on a hiring spree of MBAs. Since its refocus, Microsoft has sought to offer services in cloud platforms, enterprise software, and artificial intelligence.
The company says it hires several hundred MBAs a year from nearly 150 schools across 40 countries and it plans to continue hiring even more, according to the Financial Times.
“With MBAs, we know what we’re going to get,” says Chuck Edward, Microsoft’s head of global talent acquisition. “Our demand [for MBA talent] has gone up significantly in the past two or three years.”
Refocus Leads to More Opportunities for MBAs
Edward tells Financial Times that Microsoft’s refocus in cloud platforms, enterprise software, and artificial intelligence means a wider selection for MBAs.
Microsoft’s reinvention has led to widespread layoffs of sales staff outside the US. According to The New York Times, the company laid off 3,000 to 4,000 employees this year in its sales and marketing sector. But Edward says the job cuts haven’t affected MBAs. If anything, MBA job opportunities at Microsoft have increased. Financial Times reports that Microsoft hired about 30% more MBAs this year compared to last, mostly through its summer internship program.
“Our goal is to convert,” Edward tells Financial Times. “When we bring in an intern, [we want them to] become a full-time hire.”
How to Stand Out in Microsoft’s Interview Process
Microsoft’s leadership principles are “to create clarity, generate energy, and deliver success,” according to Grow360 — a personal development company. Edward says if an applicant wants to stand out in an interview, he or she should try to reflect Microsoft’s leadership principles.
Generally, the application process starts with a phone interview with the next round of interviews at the company’s headquarters, where applicants meet with current employees. According to Microsoft, the application process can last anywhere from three to four weeks.
Michelle Hopping is director of MBA career management at the Wharton School. Hopping tells Financial Times that Microsoft heavily recruits through college campuses. At Wharton, Microsoft recruits through recruiting events on campus, but also offers case competitions and educational opportunities within the classroom. Each year, Microsoft sponsors The Wharton Technology Case Competition—an event that “aims to provide MBA students an opportunity to address some of technology industry’s most pressing business challenges,” according to Wharton Technology Club.
Joining Microsoft
Once MBAs get an offer from Microsoft, there are a number of opportunities to connect and grow with fellow colleagues. A majority of MBA hires at Microsoft participate in the Microsoft Academy for College Hires (MACH) — “a customized learning experience designed for our newest university hires in various full-time roles within the Evangelism, Finance, IT, Marketing, Operations, Sales and Services organizations,” according to Microsoft.
Safiya Miller is an MBA grad from Cornell’s Johnson Graduate School of Management and an account executive at Microsoft. Miller joined MACH after getting hired and says many of the opportunities she received as a new hire were through the MACH program. At the end of her first year at Microsoft, Miller organized a diversity event, where she brought together 150 recent MBA hires from 10 tech companies across the Silicon Valley.
“There’s a spirit to want to give back and do service and have a larger conversation across the company,” Miller tells Financial Times.
Miller says her decision to join Microsoft is in large part due to the company’s legacy in the industry and her desire to learn from experienced colleagues.
“If I was going to move all the way out west, I wanted a team where I could learn and grow,” she tells Financial Times. “I wanted to learn next to [people] who have not only been in the industry for years but were also experiencing this refresh, rebirth of the company.”
Sources: Financial Times, Grow360, University of Pennsylvania—Wharton, Microsoft
How To Get Glowing Recommendation Letters
Recommendation letters are a standard part of the MBA admissions process, yet they often aren’t prioritized by applicants in the same way as personal essays or test scores. Still, experts say recommendation letters are a critical part of admissions and a compelling letter can translate to acceptance.
Ilana Kowarski, a reporter at US News, recently discussed 10 ways applicants can get amazing recommendation letters.
1.) Choose someone who supports your decision to pursue an MBA
When selecting who will write your letter, Kowarski says it’s critical that applicants seek someone who supports their decision to attend business school. If applicants choose someone who has expressed doubts regarding business school, their doubt may translate into the letter.
Stacy Blackman, an MBA admissions consultant and US News contributor, says its best to choose someone who is enthusiastic about your success and supportive of your career.
“This may sound strange, but plenty of successful and well-positioned professionals won’t understand why you would want to go to business school,” Blackman says. “Choose people who like you, who care about your success and who think you’re good at what you do.”
2.) Make sure your recommender is your fan
In addition to being sure your recommender doesn’t have doubts about business school, it’s important to also ensure that they don’t have doubts about you.
Shaifali Aggarwal is founder and CEO of Ivy Groupe. Aggarwal tells US News that it’s crucial for applicants to choose a recommender who fully believes the applicant is exceptional.
“Many schools will ask recommenders to rate candidates against their peers in the workplace,” Aggarwal says. “To be competitive, a candidate will need to be ranked highly on that scale.”
3.) Choose professional references
Unlike undergraduate recommendation letters which are usually written by academic references, MBA letters typically should be from professional references.
David Simpson is admissions director of the MBA and master’s of finance programs at London Business School. Simpson tells US News that MBA applicants should target supervisors in writing MBA recommendation letters.
“Most schools want you to choose current and previous line managers, who know you well and can judge your professional performance,” Simpson says.
4.) Give recommenders enough time to write the letter
If you want a stellar recommendation letter, it’s important to ask early so that your recommender has sufficient time to write a thoughtful letter. Simpson says asking early can be the difference between a positive and negative letter.
“If you rush them, they will either be late submitting, or be annoyed and not as positive as they might typically be,” Simpson tells US News.
5.) Spend time with your recommender
While distance may be an issue, MBA applicants should make an effort to meet with their recommender in person to discuss their goals and aspirations in pursuing an MBA.
Whitney Kestner is director of admissions at the University of Virginia’s Darden School of Business. Kestner tells US News that applicants should verbally request recommendation letters and have a conversation with their recommender.
“We encourage candidates to spend time with their recommenders — grab coffee or lunch —and share with them why you are interested in pursuing your MBA and why you are excited about the schools to which you are applying,” Kestner says.
6.) Be candid about yourself — even your weaknesses
Experts say it’s important to discuss both your strengths and weaknesses when speaking to your recommender. Painting a candid picture of yourself, your strengths, your weaknesses, and what you hope to gain with an MBA can be helpful for your recommender.
“This can be awkward, but if you’re honest about what you think you need to work on and what you hope to gain from your MBA education, it can become a productive conversation,” Blackman says. “When you personalize your weaknesses and illustrate your strengths, you humanize your application for the admissions committee. All applicants have weaknesses of some kind, but if you can provide context for them, it allows the reader to have a greater understanding of both the previous situation and how you would act as a student, if accepted.”
7.) Discuss your accomplishments
In order to back up your strengths, your recommender will need to draw from a list of your achievements and experiences. Blackman advises applicants to give their recommender an overview of achievements they want emphasized in their recommendation letter.
“Create a bulleted list of all of the projects that you have worked on and an outline of your strengths that go into more detail than your resume,” Blackman says. “You want your recommenders to actually read this document, so try to keep it to one page and do not overload them with information. It should be a helpful, quick reference.”
8.) Make sure your recommender knows how to answer the prompt
If your recommender has never written a recommendation letter before, it’s important that you give clear instructions on how to write one.
Ajay Anand is an alumnus of the University of Pennsylvania’s Wharton School. Anand tells US News that recommenders should know what admissions committees are expecting in a letter.
“The schools are typically looking for multi-page letters with supporting details, not one-sentence answers to their prompts,” Anand says.
9.) Share your application materials with your recommender
To give your recommender a complete picture of yourself as an applicant, it’s a good idea to share your MBA resume and admissions essays. Sharing your application materials can allow recommenders to write a letter that complements your MBA application.
“A strong application complemented with very strong recommendations can elevate a candidate to the ‘likely to be admitted’ stack,” Chioma Isiadinso, CEO and co-founder of admissions consulting company EXPARTUS, tells US News.
10.) Highlight your successes in overcoming challenges
Experts say one highly sought-after characteristic that MBA application committees look for is the ability to the ability to create solutions in the face of adversity.
Jim Jacobs is president of market research firm Focus Insite. Jacobs says highlighting your experiences in overcoming adversity “will put your application [at the] top of the list all day long.”
A recommendation letter is just one part of the MBA application, but it can play an important role in giving admissions committees a better picture of yourself and your goals. Ensuring that you choose a supportive recommender, who is capable in illustrating you as an applicant, can make the difference between acceptance and rejection.
The post 5 Common Fears About Applying to HBS Dispelled appeared first on Poets&Quants.
from Poets&Quants
via IFTTT
No comments:
Post a Comment