Oct 22, 2011

Enterpreneurship and Carnegie Mellon - Tepper

Tepper’s aspiring entrepreneurs are invited to take advantage of the academic and extracurricular offerings of the Donald H. Jones Center for Entrepreneurship. The Entrepreneurship in Organizations MBA Track, the James R. Swartz Entrepreneurial Leadership speaker series and the McGinnis Venture Competition are all products of this lively branch of the Tepper community. When the center was founded in 1972, it was one of the first institutions in the world to teach entrepreneurship in an academic setting. Since that time, it has dedicated itself to helping students learn the skills necessary to turn their business ideas into realities through courses on strategy, venture development and funding. Recently, the Jones Center has focused increasingly on the function of technology and the growing prevalence of new ventures in the life science industry.

Students who are especially interested in entrepreneurship can apply to become Swartz Entrepreneurial Fellows with the DJC. In addition to completing the Entrepreneurship in Organizations Track and gaining valuable practical experience while studying under accomplished entrepreneurs in the Entrepreneurship faculty, Swartz Fellows also organize the Swartz Leadership Lectures and run the McGinnis Venture Competition, both of which are eagerly anticipated annual events on campus. During the summer following their first year at Tepper, many Fellows opt to intern at an entrepreneurial venture in the Pittsburgh area; others take advantage of the Jones Center’s new DJC Accelerator pilot program to found their own companies over the summer.

- by Clear Admit

MBA Admissions Interviewer and You

- by Veritas Prep

How should you prepare for your admissions interview? Although the meat of your preparation will be the same no matter who interviews you, be aware that there will be some subtle differences in your experience depending on who conducts the interview. Again, your preparation will barely be affected, but it helps to know what to expect going in. Go into an HBS interview with an admissions officer expecting a fairly formal and efficient experience, for example, and you won’t be unnerved when that’s what you encounter.

With that in mind, here are a few thoughts on what to expect, based on who conducts your MBA admissions interview:

Admissions Officer
These interviews often are the most formal, and the most specific in terms of what the interviewer is looking for. Admissions personnel will usually have a form from which they work, and will make an effort to cover each area before the interview is over. Beware, though, that if the admissions officer doesn’t cover everything in the allotted time and some questions go unanswered, it will be considered your fault. Your main line of defense against this problem is making sure that you don’t ramble. Later on, we will discuss how you can make sure to cover the most important parts of your story.

Oct 15, 2011

The Economist Ranking - Tuck takes the honors

The Economist’s methodology, which ranks U.S. and non-U.S. schools in one global ranking, is focused on four categories: opening new career opportunities (35%); personal development/educational experience (35%); increasing salary (20%); and the potential to network (10%). “The figures we collate are a mixture of hard data, such as salary and faculty qualifications, and the subjective marks given by the school’s students, such as a rating of their school’s facilities,” The Economist said.

2011 Economist Rank2010 Rank   Year-Over-Year Change
1. Dartmouth (Tuck)2 +1
2. Chicago (Booth)1 -1
3. IMD6+3
4. Virginia (Darden)11+7
5. Harvard4-1
6. UC-Berkeley (Haas)3-3
7. Columbia Business School12+5
8. Stanford7-1
9. York (Schulich)10+1
10. IESE5-5
11. MIT (Sloan)13+2
12. New York (Stern)14+2
13. London Business School19+6
14. HEC Paris9-5
15. Pennsylvania (Wharton)8-7
16. Carnegie Mellon (Tepper)21+5
17. ESADE20+3
18. Northwestern (Kellogg)16-2
19. INSEAD23-4
20. Duke (Fuqua)28+8
21. Bath29+8
22. Southern California (Marshall)18-4
23. Cranfield15-8
24. IE Business School22-2
25. Cornell (Johnson)33+8
26. Yale School of Management24-2
27. UCLA (Anderson)37+10
28. Emory (Goizueta)36+8
29. Hult International27-2
30. Michigan (Ross)25-5
31. Texas-Austin (McCombs)43+12
32. Melbourne Business School44+12
33. Cambridge (Judge)30-3
34. Vanderbilt (Owen)46+12
35. Washington (Foster)32-3
36. University of Hong Kong48+12
37. City University (Cass)53+16
38. University College Dublin31-7
39. Indiana (Keley)35-4
40. Notre Dame (Mendoza)39-1
41. Vierick Leuven Gent47+6
42. Mannheim Business School26-16
43. EMLYON38-5
44. Georgetown (McDonough)50+6
45. Wisconsin-Madison54+9
46. University of Queensland81+35
47. North Carolina (Kenan-Flagler)40-7
48. Wake Forest University59+11
49. Boston University42-7
50. Penn State (Smeal)56+6

-by Poets and Quant

Oct 8, 2011

How does GMAT scoring algorithm actually works?

Disclaimer: Knowing specifically how the GMAT is scored won’t help your score much (if at all), so if you only have a few hours left to study please study! Really, the only way to improve your score is to get more questions right.

Often students wonder about the scoring system when they see the same scores (e.g., two people who each score 49 Quant and 35 Verbal) correspond to two different overall scores (e.g., those same two people earning 690 and 700), or they improve their scaled scores and don’t see a significant increase in their overall (e.g., improving from 50Q and 31V to 49Q and 35V, but the increase is only from 690 to 700). What’s going on?
Dr. Larry Rudner of GMAC recently addressed these issues at last month’s GMAT Summit for top test preparation companies. Here’s what we learned from his presentation:
  • The 200-800 score is the final report, sent to schools to stay consistent with the old paper-and-pencil (pre-1997) test scoring system, but the scoring algorithm used in the computer uses its own system and just converts the 0-60 and 200-800 values over as that last step in reporting.
  • Each scaled score has a corresponding “interim range” (or, actually, the interim range is what the computer first gives you before converting to a scaled score) which spans 2-3 numerical values, so your 50 on Quant might correspond to a range of 60-62 on that GMAT computer scale (again, the computer uses its own numbers that are more consistent with how the CAT algorithm scores you, then the system converts to the familiar display numbers). Those interim scores for Quant and verbal are then combined and your “interim sum” (which now may span 5-6 potential values since you’re adding two ranges together) is then converted to your 200-800 score.

    So not all 49s (scaled score) are created equal — your 49 might be a “high 49″ (at the higher end of the interim range of scores and someone else’s might be a “low 49.” When the computer uses its interim value, if you have a high/high split of interim values for the same Q/V scaled scores and someone else has a low/low split on theirs, your 49/39 might be a 730 and theirs a 710. The 3-digit 200-800 score is valid — it’s just that you don’t see the full process that goes into calculating it.
  • So as an example (courtesy Dr. Rudner’s presentation), if you have a 50Q/31V, that has a potential range of:

    – Quant: 51 scaled –> 60-62 interim range (you could be a 60 or a 62 and still end up at 51 scaled)
    – Verbal: 31 scaled –> 42-43 interim range

    Total: 102 – 105 on the interim scale, on which 102 would correspond to a 670 and 105 would correspond to a 690. So the same two scaled scores could swing 20 points either way on the overall score, and that’s because the overall score is calculated using the computer’s numbers, not your score report numbers.

However complicated, the system is quite transparent; you can learn more about it at www.mba.com, the Graduate Management Admissions Council’s site for statistical research and trends. You’ll see there that your score is calculated fairly, accurately, and efficiently. So, as always, the lesson is to worry less about how your score is measured and more about how to maximize the value of that measurement!

by - VeritasPrep

Top Enterpreneurial Schools - LinkedIn vs Other Rankings

LinkedIn Rank & School     U.S. News Rank     Princeton Review
1. Stanford     2     8
2. Harvard Business School     4     NR
3. MIT Sloan     3     NR
4. California-Berkeley (Haas)     6     NR
5. Dartmouth (Tuck)     NR     NR
6. Pennsylvania (Wharton)     5     NR
7. Columbia Business School     19     NR
8. Babson     1     1
9. Virginia (Darden)     14     7
10. Cornell (Johnson)     NR     NR

Princeton, Are you serious?