What Exactly Does “Fit” Mean?
Ranking and prestige are no doubt important when considering an MBA program. But experts say applicants should also consider fit when deciding on which program to pursue.
In a new article, Stacy Blackman, of Stacy Blackman Consulting, says applicants deciding between two programs should compare curriculum, culture, and communication to see which program best fits their goals and needs.
Curriculum
Blackman says nearly all MBA programs will give you a solid foundation in core management skills.
However, it’s important to know which program best matches your field of interest.
“Top business schools are known for their strengths in specific fields—finance, entrepreneurship, marketing, health care, real estate development, etc.,” Blackman writes. “So start by narrowing your list based on how well the program can prepare you for that industry.”
Experts also say applicants should compare teaching styles at different institutions and learning settings.
“Certainly, the balance of case study vs. non-case study is an obvious first question,” Ryan Barba, general manager of admissions consulting at the Ready4 consulting firm in Boston, says in an interview with US News. “But also, how much work is typically done independently vs. in group settings? How common are group projects, in other words?”
Culture
When it comes down to culture, Blackman says, it’s important to look for one that will match your personality.
A good way to assess culture at various schools is to see whether they’re more competitive or collaborative.
“Size and location often play an important role in this regard,” Blackman writes. “Larger programs in urban centers, such as Harvard, Wharton, and Chicago Booth typically feel much more competitive and intense.”
On the other hand, schools located in rural areas tend to foster a more tight-knit community.
“Here, many students live on campus and socialize with fellow students and faculty on a regular basis,” Blackman writes. “MBA programs with smaller cohorts take pride in their down-to-earth, collaborative cultures.”
Communication
Communication is really about how well you can connect with a school before even attending.
A school’s communication efforts may be apparent in how often and how much they engage with you.
“Take, for example, the Michigan Ross School of Business, where the director of MBA admissions and financial aid Soojin Kwon updates her blog every few weeks,” Blackman writes. “On it, she offers application tips, deadline and interview news, school events and other thoughts. She or someone in her department also answer each post’s comments. It may just be that famous Midwestern hospitality, but Ross candidates seem to feel a genuine connection that starts during their admissions experience.”
Additionally, some schools also offer student blogs, which can be another way for applicants to learn more about what a program may offer.
“These blogs a great way to connect with current students and learn more about the daily experience at your target schools,” Blackman writes.
Sources: Stacy Blackman Consulting, US News
Rankings illustration from the new graphic novel on MBA admissions by Menlo Coaching
This Is Why US MBA Programs Are Dominating Rankings
US b-schools are dominating the global rankings.
And according to a recent report by Bloomberg Businessweek, it all comes down to money.
Bloomberg Businessweek’s most recent “Best B-Schools” ranking saw only one school, IMD in Switzerland, make it in the top 10. Among the top 30, only four schools outside of the US were listed.
Money Rules All
According to survey data collected by Bloomberg, respondents listed the “potential for high-paying work” after graduation as the number one factor when it comes to choosing a b-school.
That has a lot of influence when it comes to actually ranking b-schools.
For instance, in Bloomberg’s ranking, compensation is weighted more heavily than other factors such as networking, learning, and entrepreneurship.
And American b-schools tend to offer the highest compensation post-grad.
According to Bloomberg, currently employed MBA grads of US b-schools had a median salary of $145,000 a year. That’s 16% more than MBA grads of non-US b-schools, who made a median salary of $125,000.
The Role of Geography
One reason why American grads make more is simply due to geography.
According to GMAC’s 2018 Corporate Recruiters Survey Report, US b-school grads tend to make more money due to the fact that they take jobs in the US, where MBA salaries are higher.
Nearly 56% of US employers also offer signing bonuses for MBA grads, according to the report. Other countries aren’t as generous. In Asian-Pacific countries, only 36% offer bonuses. In Latin America, the number is 30%. And in European countries, signing bonuses are only doled out by 20% of companies.
Worldwide Value
Part of the appeal and interest of the US MBA degree is its value worldwide.
“If you’re from India or China, it is Harvard and MIT that you dream about,” Marcelo Barros, founder of International Advantage, which offers career counseling services to schools and international students seeking jobs in the U.S., tells Bloomberg Businessweek.” In the eyes of applicants, more than any other country, a U.S. business degree has better global recognition and provides a chance for a better life and better career opportunities.”
Sources: Bloomberg Businessweek, GMAC
How To Use Social Media To Your Advantage In Applications
Social media is often seen negatively when it comes to b-school admissions.
But experts say that there are elements of social media that may actually help you in admissions.
Clear Admit recently published an article discussing how applicants can better position themselves to use social media as a positive asset to their application.
The professional social networking platform, LinkedIn, is possibly one of the best ways to gain awareness through social media for admissions.
Julie Barefoot, the associate dean of MBA admissions at Emory Goizueta, says admissions officers at Emory Goizueta tend to review applicants’ LinkedIn profiles.
“I recommend that applicants make sure their LinkedIn profiles are as complete and up-to-date as possible,” Barefoot tells Clear Admit. “On occasion, an applicant will have a very sparse LinkedIn profile (no photo and the bare minimum of education and career details) and that’s unimpressive. MBA applicants should view LinkedIn as a virtual resume and make sure that their profile is accurate and complete.”
Cecile Matthews, Director Of Admissions Consulting at Veritas Prep, recommends applicants to use LinkedIn to find others who currently have your “target position,” or dream job.
“Find what it would take to transition into such a field,” Matthews says. “Ideally, speak with hiring managers in the field as well, and learn whether an MBA would be the best way to achieve this transition.”
In doing this type of networking, Matthews says, applicants can also mention in their application that they’ve clearly and concretely demonstrated that their goals are well-researched.
Learning More About An Applicant
Social media can certainly be helpful admissions officers learn more about you and your goals.
“Social media is a good way for schools to get to know applicants outside of the formal admissions process,” Rodrigo Malta, the director of admissions for the MBA program at the McCombs School of Business, tells Clear Admit. “I believe prospective students should see social media as an asset in the application process and thoughtfully leverage opportunities for engagement with the programs they are considering for an MBA.”
Judi Byers, the executive director of admissions & financial aid at Cornell’s Johnson Graduate School of Management, says social media outlets such as Facebook, Twitter, or Instagram can also help paint a picture of your interests and perspectives as an individual.
“This is important as it provides further context related to how you might fit with our community,” Byers tells Clear Admit. “Connecting on these platforms provides a way to share relevant information, and more importantly, connect you to our students and alumni who are also using social media to share their experiences as well as the amazing things they’ve been able to accomplish.”
However, it’s also important to note that not all social media activity is welcome.
“My advice to applicants is that you should review your social media postings with an ‘eye’ to determine if you’d want an admissions director or a recruiter to look at it—is there anything that would show you in a bad light? Is there anything that would embarrass you? Is there anything that you feel you would need to defend or explain?” Barefoot tells Clear Admit. “If so, you should remove those inappropriate posts or photographs and/or consider changing your social media settings to private.”
Sources: Clear Admit, Poets & Quants
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