NYU Sterns offers Technology Entrepreneurship - Another push for Tech in NYC

What may have prompted Stern to offer an MBA course in Technology Entrepreneurship  (MGMT-GB.3337.30)?

1. Presence of serial entrepreneurs in NYC who are willing to invest their time and capital in startups.
2. Many top engineering and technology students graduating from schools in NY region prefer to stay in NYC rather than moving to Silicon Valley.
3. With bonuses down and salaries of Wall Street employees under scanner, technology offers an alternative career path to finance jobs in NYC.
4. A positive change towards entrepreneurial activities, most recently observed by Mayor Bloomberg's initiative to establish NYC as world capital of tech startups.
5. Hypothesis that there are quite a few entrepreneurially minded MBA students at Stern.

Inside University of California Berkeley Haas's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

 

What happens once applications are submitted?

Stephanie Fujii, Director of Admissions at Berkeley Haas, Excerpts - Once the applicants submit their applications on the online platform,they immediately get a confirmation and response from the school saying “Thank you for submitting your application.” Next, we put together the application to make sure that all the required pieces of the application are in order, including the application form itself, the essays, the letters of recommendations, resume and now the applicants can also submit the official transcripts while submitting the rest of the application.

After putting together all the components of an application together and verifying that the application is complete in all aspects, we send it for its first read. All of our applications from specific regions or country are assigned to readers based on the country of applicant. Moreover, every application is given atleast two reads by our admissions team, by different readers. Once the second reader completes the evaluation, the reader decides whether to send an interview invite to the applicant, deny or waitlist. In case of any disagreement between the two readers, the application will go for a third review. Also, some applications may go to a third reader's inputs even when there is an agreement, just to get an additional perspective.

Inside London Business School's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

What happens once applications are submitted?

David Simpson, LBS associate director of marketing and admissions - Similar to many other business schools, we also follows a staged admissions application process, however, our process runs over a fairly long season. Our Round One deadline is in the month of October, and we made offers in December. Our final round deadline is towards the end of April, and these offers are made in July. Although we do expect applicants to do a lot of research about the school, which takes time  as well as effort (and often included a campus visit at some stage of this process), we also recognize that candidates' professional and personal circumstances can change quickly, thus affecting their application submission time. 

Once the applications are submitted through our online platform, they are downloaded after the admission deadline, printed out and additional documentations are added. They will go to admissions team members who will then read the application and decide if the applicant should be invited for an interview or not. Nobody joins the LBS MBA program without having been interviewed, face-to-face, with an alumnus. These alumni interviews offer us a consistently high standard of detailed feedback from the perspective of someone who has gone through the program themselves.  The admissions interviews also offer applicants we considered to be “borderline” for one or the other reason an opportunity to shine. After all, even from the perspective of attaining post-MBA employment, it is an applicant's all-round package of knowledge, experience, intellect, personality and charisma that will get them a job in this market. Because these admissions interviews are carried out in locations all over the world, usually wherever the candidates are based, these interviews add the benefit of local market/cultural knowledge.

Inside MIT Sloan's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

 

What happens once applications are submitted?

Rod Garcia, Director of Admissions MIT Sloan - After the application deadline for a particular round is over,, the first thing we do with the submitted applications is to import the application data into our own database. And since we have a paperless application process, this year we’ve made our application evaluation process sustainable by downloading the applications to our  admissions readers’ iPads rather than printing them out. The first person to see the submitted application is me. I review each of these applications online and then distribute it to a member of the admissions committee for reading. By the way, applications are distributed randomly. The application reviewers are all our internal admissions staff along with some contract readers – controlled by us – and we don’t use students or alumni as application readers.

So initially the applications are downloaded to iPads in batchs of 20, 25, or 40  depending on how quickly our reviewers can read them. Then, a week later, we all meet to calibrate the scores and then upload these scores to our database.

Yes, that’s right. We score the applications. Although we don’t have a global rating, we score applicants on a set of attributes. There are about nine attributes that we broadly look at, ranging from GMAT to GPA to work success to all the other attributes, such as leadership attributes. Essentially there are two broad groups attributes – demonstrated success (as indicated by indicators such as GMAT, GPA, work success) and leadership attributes. We then sum up the two scores, and based on these two scores I will then decide the 18 percent applicants who we will send invite for interviews.

Inside Carnegie Mellon (CMU) Tepper's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

What happens once applications are submitted?

James Frick, MBA director of admissions CMU Tepper - At CMU Tepper, we have an oustanding support staff, and it is going to take control as soon as applicants click that “submit” button. It will coordinate the applications, get it organized and ensure that all of the required and supplemental information is in. The team does a great job of being in touch with the applicants and in general we are very proactive and thoughtful about reaching out and saying, “Here is your status, and here’s what we need from your side.” Many a time the message is just to say that it’s hard to read a transcript that you’ve uploaded at the time of submission, can you send another copy?

Once it is verified that an application is complete, it goes to our reviewers for reading. All of the admissions reviewers are part of the professional admissions team, made up of myself and my colleagues. All the applications are read a minimum of two times and usually three or four.

Are you ready for the new GMAT?

If you want to ace GMAT - the key to the world's best B-schools - it's time you start honing your visual interpretation, too. The Graduate Management Admission Council announced the components of the new format which will debut in the June 2012 NextGen GMAT.

The new section, named Integrated Reasoning, will have four basic formats. Graphic interpretation will be a multiple-choice question based on images. Multiple-source reasoning will have questions from the same data. Table analysis will be based on tables which can be sorted in various ways. Also, for the first time, GMAT will provide candidates an on-screen calculator. This will be only for the fourth format called two-part analysis.

The new section will be for 30 minutes and consist of 12 questions. However, the time for the exam will remain the same (3 hours, 30 minutes) and so will the total scores. The new section will be incorporated by dropping an essay from the analytical writing assessment. So far, students had to write an essay and analyse an argument. The latter has been retained. The length of the two other sections - verbal and quantitative sections - stays as it is.

GMAC is changing the test format after 17 years. It was done after a survey of B-schools in which they asked new skills be measured. "GMAC always believed in evolving the exam according to needs. Many schools felt that a higher order of integrated reasoning should be included. Data analysis is a key point in business now. Most B-schools have case studies in their syllabi. The new section will test the candidate's ability to interpret visual images, convert data from verbal and graphical representations to understand relationships from graphs, and integrate data from various sources," Ashok Sarathy, vice-president, GMAT operations, told TOI.

Sample questions are available on the GMAC website. The test prep materials will be available from April. GMAT is becoming popular among Indian students. There has been a 10% increase in the students appearing for the test in the past year. The number of schools accepting the score in India has increased by 200% over the past four years.

Like this post? +1 us and share it with your friends using any of our sharing widgets below!
TimesofIndia

Inside MIT Sloan's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

 

What happens once applications are submitted?

Rod Garcia, Director of Admissions MIT Sloan - After the application deadline for a particular round is over,, the first thing we do with the submitted applications is to import the application data into our own database. And since we have a paperless application process, this year we’ve made our application evaluation process sustainable by downloading the applications to our admissions readers’ iPads rather than printing them out. The first person to see the submitted application is me. I review each of these applications online and then distribute it to a member of the admissions committee for reading. By the way, applications are distributed randomly. The application reviewers are all our internal admissions staff along with some contract readers – controlled by us – and we don’t use students or alumni as application readers.

So initially the applications are downloaded to iPads in batchs of 20, 25, or 40 depending on how quickly our reviewers can read them. Then, a week later, we all meet to calibrate the scores and then upload these scores to our database.

QS Top MBA Ranking - By Region and by Specialization

The QS Global 200 Business Schools Report provides an alternative to traditional MBA rankings by highlighting the value of MBA programs around the world according to the qualification’s end consumer—the MBA employer. Over 2,000 responses were received from 42 countries, making this the largest survey of its kind.

Methodology - MBA employers were asked to identify the business schools from which they prefer to recruit. Respondents also identified business schools they deem to produce excellent hires in ten areas of elective specialization: finance; strategy; marketing; entrepreneurship; corporate social responsibility; information management; innovation and international management.

If you’re considering pursuing an MBA, the QS Global 200 Business Schools Report can help in your research process by identifying which business schools are meeting the needs of international employers and revealing some of the newer programs that are gaining in reputation.

Top Three Business Schools, by Region  -

Which business schools do the most satisfied MBA graduates go to ?

Getting an M.B.A. from a top tier school is always an expensive affair. An MBA degree from Harvard Business School, for instance, can dig a deep hole in your pocket (approx. $290,000 on average for tuition and two years of foregone salary).

Many of the readers might be aware of the fact that Forbes, the magazine, ranks business schools every two years based on the return on investment of their alumni. A reccent article from Forbes highlights the "satisfaction" rank of these business schools based on the information collected during the survey. However, just like with any other MBA ranking, it is important to know how this ranking works. Forbe's MBA Ranking is based on ROI along with responses from alumni on their level of satisfaction in three areas: M.B.A. education, current job and preparedness relative to other b-school grads. The three satisfaction ratings are then averaged to come out with the list of the most satisfied MBA graduates. Any school that did not respond from at least 25 graduates is excluded from the list.

So how the ranking for the schools sending most satisfied MBA graduates look like? Check out the surprise school at No. 9!

Inside Yale SOM's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

What happens once applications are submitted?

Yale School of Management (SOM) Admissions Director Bruce DelMonico - Once applicants submit applications on our online application platform, we ensure that the applications are complete by adding to them any supplemental information or materials that were submitted by the applicants separately. Once an application is verfied to be complete, we send it out to reads. Most of the applications receive two independent  reviews by different members of our Admissions Committee.

It may be noted that the applications are read in random order and, as a result, candidates can be invited to interview at any time in a particular round. Candidates can also be invited to interview at any point in the admissions process – whether early in the round after a preliminary review of the file or later in the round after a first or second reviews (or, in some cases, after coming to the Admissions Committee).

Inside NYU Stern's Admissions Office

This post is one in a series of posts trying to decipher what happens once you click that "submit" button in the application portal of the top business schools. As told by the admissions directors themselves! Follow us on twitter and facebook to keep yourself updated with the next set of schools.

What happens once applications are submitted?

Isser Gallogly, Executive director of MBA admissions at NYU Stern - At NYU Stern, we have three admissions deadlines, however, we use a rolling notification process, which makes us unlike some other schools that have round systems. We do provide any initial notification deadlines as to when can applicants expect us to get back to them, but usually that’s the latest possible date and we try to get out our initial notifications as soon as we have them ready. We recognize the fact that this is an anxious process for all the applicants, and we  do not make people wait unnecessarily.

Our admissions process is holistic as well as individualist. Every application gets reviewed by the Admissions Committee and is reviewed more than once, so it’s not just a single individual’s decision. In some cases, the admisisons committee will debate considerably. In every case we try to make sure that every application gets a full and complete review from us and is seen from more than one vantage point.

One aspect that I think is unique about our admissions process has to do with who’s reading and reviewing the applications. In many other schools, students, part-time help or alumni are involved in the admisisons process. But at NYU Stern, all the applications are reviewed by trained admissions professionals who are part of our full-time admissions team. Occasionally we will bring in some help, however, even in such cases these are the people who have been a part of our admissions team.