Archive for the ‘Application’ Category

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Your Candidacy: Transcript Issues to Consider

Tuesday, August 17th, 2010

Many applicants have a selective memory when it comes to their transcript.  They remember the 3.8 in their psychology major but have somehow blocked out the C in Calculus and the overall 2.7.  Your transcript is what it is, and it will not change, no matter how many classes you take after the fact.  However, if you have low grades, there are things you can do to somewhat offset the damage.  The following are some potential transcript issues that can be tackled head on with a bit of advance planning:

  • Low Overall GPA – A low overall GPA may raise a red flag for an admissions committee.  They are seeking individuals with a track record of excellence, who prioritize academics and achievement, and who have the ability to excel academically.  By taking a few classes now, you can offset some of their concerns.  While straight A’s in post-undergraduate courses will not erase your original transcript, you can demonstrate that you have the ability to excel academically, that you have identified a weakness and are making an effort to rectify it, that you are committed to learning, and that you can balance multiple commitments successfully.  All of this can help mitigate the damage done by poor undergraduate performance.
  • Low grades in business or quantitative classes – Even if your overall GPA is high, if the two classes that you bombed were Calculus and Statistics, this could cause concerns about your ability to excel in a rigorous business school curriculum.  For some of the same reasons detailed above, taking relevant classes now will help to put the admissions committee at ease.
  • No business or quantitative courses on the transcript – If you are currently in a business role that does not require fluency with business or numbers, and you do not have any of these types of courses on your transcript, you might consider taking a class now. This will demonstrate an awareness of your deficiencies and help to provide a level of comfort around your abilities.

Finally, if you do plan to take some extra classes, some suggested courses to take are Calculus, Statistics, and Accounting.  These basics will set the groundwork for a typical MBA curriculum.

Founded in 2001, Stacy Blackman Consulting has helped thousands of MBA applicants gain admission to the most selective business schools in the world.  The Stacy Blackman team, comprised of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy.  Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships.  The company is regularly featured in publications such as BusinessWeek, the Wall Street Journal and the Economist.   Visit the Stacy Blackman blog for daily news updates and admissions tips, and check out the company’s e-publications for more in depth school by school guidance.

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Your Candidacy: Community Service/Extracurricular Activities

Monday, August 9th, 2010

Business schools pride themselves on training future leaders, not just educating a bunch of people who know how to calculate an IRR and overuse the word “leverage.”  They look out for individuals who are concerned about doing great work and improving the world around them.  Some young business people feel that even though they have not prioritized “extracurricular” activities early in their careers, they will definitely emphasize these sorts of activities once they are more established.  However, more often than not, the patterns we establish towards community activities early in our careers remain fairly steady.  If you feel that your commitment over the last several years to outside causes does not reflect the balance you want to establish in your life…well, put your money where your mouth is and get involved.

Leverage your interests

Why are extracurricular activities important to begin with?

  • They show that an individual is multi-dimensional.  They demonstrate interests, passions, and personality.
  • Being involved outside of work shows that you can balance multiple commitments.
  • They can show that you have a larger view of the world – that you see what is happening outside of your office and you are interested in being involved and contributing in some way.
  • They make you a more interesting person – someone that can contribute to the diversity and vitality of a class and alumni network.
  • It’s an opportunity to demonstrate qualities such as creativity, leadership, teamwork, communication skills, and initiative.

If you haven’t been participating in outside activities, look up a few opportunities on the internet and get involved next weekend.  It’s really as simple as that, to be honest.  Candidates who get involved even early in the year they apply will have a six- or even nine-month track record by the time apps are due.  Or, if you have been involved with outside activities over the last couple of years, consider stepping your activities up a notch.

When thinking about ways to become more involved, don’t get hung up on traditional volunteer work.  There are many, many ways to become involved and highlight your unique contributions.  A good place to start is with your own interests and passions.  Think hard about what excites you, and how you can leverage those interests.

Founded in 2001, Stacy Blackman Consulting has helped thousands of MBA applicants gain admission to the most selective business schools in the world.  The Stacy Blackman team, comprised of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy.  Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships.  The company is regularly featured in publications such as BusinessWeek, the Wall Street Journal and the Economist.   Visit the Stacy Blackman blog for daily news updates and admissions tips, and check out the company’s e-publications for more in depth school by school guidance.

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How to Write a Personal Statement that Rocks!

Sunday, August 8th, 2010

If you are like me, then you would rather take the GMAT five times in a row than write a personal statement, but the first step to writing a rockin’ statement of purpose is to see it as an opportunity, not a compulsory exercise. The statement will make you a real person to the admissions department, and is a great opportunity to show them that not only are you a strong writer, but you are a mature, intelligent and focused business professional.

  1. Do your research. Just like you would for any research paper, gather as much information about your topic – YOU! Applying to business school is well, serious business, and you have probably been talking about it for months if not years. Sit down with your close family and friends individually and ask them why you would be an excellent candidate. What have you been saying all these months about MBA programs? What first interested you in getting an MBA? What makes you a strong candidate? They will be able to help you understand your strengths, your determination, and your passion even when hours of GMAT studying have made you forget. Prepare a list of questions and take notes!
  2. Personalize your approach. Don’t just write one blanket statement for every program. MBA programs want to know why you want to study at their specific school. The questions they ask will differ slightly from application to application. While you can tweak a strong essay to fit almost any prompt, make sure you are including the specifics of each program in your essay. They want to accept students who really want them so work hard to avoid flippancy or glibness.
  3. Show, don’t tell. When the admissions department reads your statement, keep in mind that they will have the rest of your application at hand, including transcripts, letters of recommendation, resume, etc. Make sure you don’t repeat any information from any other part of your application. Don’t just tell them about your accomplishments or present a recitation of your skills. Show them part of your personal story that led you to choosing their graduate school. Don’t make it cliché or saccharine, but also don’t be afraid to use the first-person “I” and be emotionally revealing. Depth is always better than breadth.
  4. Revise! Be prepared to revise your essay a lot! You may think you know exactly what topic or story you’d like to discuss, but you may find that you run out of steam after one paragraph. Try writing a few different outlines before you begin. Expect that it will take you awhile to find the story you want to tell, and enjoy the process. Have trusted friends or family members read your essay and give you feedback. If possible, contact old faculty advisors and teachers and ask their opinions. Once you’ve finished your essay, go back and re-read the specific question of the prompt. Make sure your essay is truly on-topic.

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Don’t Lose that Great Idea: Keep a Notebook During Spring and Summer

Monday, August 2nd, 2010

Jack Kerouac kept a notebook before he went On the Road.  Larry David’s notebook of wry observations and embryonic comedy routines was lost and then found on “Curb Your Enthusiasm.”  Now, your notebook should play a big part of your business school admissions process.  This is as simple as carrying around a notebook during the spring and summer months to scratch down your thoughts about your applications.  Some of these might be random ideas that come to you while you’re working at your desk, sitting on a plane, or braving the morning commute.  But you should also plan to spend, say, half an hour of scheduled quality time per week with your notebook for a couple of months.

If you are starting to think about applications before most essay questions have been published, know that most of the themes are universal from year to year and should not come as a surprise to applicants.  Take time to write down your preliminary ideas relating to:

  • Your main career accomplishments to date
  • Examples of your leadership abilities
  • Outside interests, passions, and main achievements in your “extracurricular” life
  • People and events that have influenced you
  • Your career goals after business school…and your broader life goals
  • Areas in which you need improvement or personal development
  • How business school will benefit you

Don’t settle for writing down your general thoughts.  Be specific.  As a matter of fact, be incredibly specific.  I encourage my clients to employ what I call “micro-examples” to bring their essays to life.  That means finding those discrete moments that encapsulate major experiences in your life.  Your notes will be an incredibly valuable resource, whether you’re tackling the admissions process by yourself or working with an applications advisor.

Some other things to scratch on your pad:

  • Your thoughts on what schools are right for you
  • Who will your best recommenders be – and what do you want them to say?
  • Comments from your friends and family, and colleagues if appropriate
Founded in 2001, Stacy Blackman Consulting has helped thousands of MBA applicants gain admission to the most selective business schools in the world.  The Stacy Blackman team, comprised of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy.  Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships.  The company is regularly featured in publications such as BusinessWeek, the Wall Street Journal and the Economist.   Visit the Stacy Blackman blog for daily news updates and admissions tips, and check out the company’s e-publications for more in depth school by school guidance.

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Improve Your Candidacy, Then Improve Your Application

Thursday, July 29th, 2010

For people applying to major business schools, October, November, and December will inevitably be months filled with typing, spell-checking, typing, editing, typing, proofreading…and then some more typing.  But (depending on your deadline) July, August and even September can be very fruitful months both for your professional development and for improving your business school application – or, more precisely, for improving your business school candidacy.  While many b-school aspirants see the spring and summer solely as a time to take a GMAT prep course, it can actually be the best time to begin planning for the application – and more importantly, to identify the elements of your candidacy that you wish to improve.  Two easy ways to bolster your overall candidacy (before the final rush of the fall and winter when you are immersed in writing essays and compiling application materials) are to seek new responsibilities at work, and use travel to expand your personal and professional horizons.  In the coming weeks we will tackle the many ways to bolster candidacy; below we discuss work and travel.

Seek Out New Responsibilities at Work

Applicants who take stock of their professional accomplishments in the months ahead of their application process may just end up seeing some holes.  Scratch that: they will always see holes.  Filling holes is what getting an MBA is all about.  But we want to make sure we have demonstrated some skill and capability for growth in the areas we have targeted for our future careers.  Sometimes, it makes sense to make progress in these areas before business school.  Even just a couple of assignments in a new area can confirm that you are indeed interested and that you have the capacity to achieve at a high level in the future.

Travel

You’ve worked hard the last several years.  You’re going to spend a ton of hours cooped up studying for that pesky GMAT, and in the fall you’re going to spend 50 to 100 hours in front of your computer writing and editing essays.  You deserve a vacation.  But instead of just making a quick jaunt to Vegas for golf and gambling, consider planning a vacation with a dual agenda of fun and personal enrichment.  Injecting a bit of a learning agenda into your trip can expand your personal horizons, help more fully define your career objectives, and provide you more material for essays and interviews.

Founded in 2001, Stacy Blackman Consulting has helped thousands of MBA applicants gain admission to the most selective business schools in the world.  The Stacy Blackman team, comprised of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy.  Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships.  The company is regularly featured in publications such as BusinessWeek, the Wall Street Journal and the Economist.   Visit the Stacy Blackman blog for daily news updates and admissions tips, and check out the company’s e-publications for more in depth school by school guidance.

Posted in Application, Business School, Stacy Blackman | No Comments »

GMAT – Issue Essay Examples

Friday, July 23rd, 2010

If you haven’t already, you can download the Analysis of an Issue essay topic pool on MBA.com here.

While there is no way to predict which topic from these 22 pages you’ll see on test day, by following the same process and using the same template for each practice essay you write, you’ll be well-prepared. The topics may change, but your approach never will. Let’s look at one of the official GMAT topics:

Portrayals of violence have proven commercially successful in television programs, movies, songs, and other forms of popular entertainment. Therefore, those who create popular entertainment should continue to incorporate violence into their products.

Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations, or reading.

The first step towards strong essay examples is to understand the two sides of the issue. You must either strongly agree or strongly disagree with the presented issue. Unlike real life where most of your opinions are probably a mix of gray, the GMAT Issue essay requires you to take a strong stand on one side of the issue. You won’t be able to adequately argue a middle-of-the-road approach in 30 minutes, and you risk appearing indecisive and muddling your essay.

First state the two sides of the issue in your own words:

  • TRUE: More violence should be incorporated into entertainment.
  • FALSE: More violence should NOT be incorporated into entertainment.

Now you can begin to brainstorm examples for both sides. Look at the language of the prompt. It mentions “television programs, movies, songs and other forms….” Those are big clues to some of the areas from which you can draw examples!

Examples of successful popular culture entertainment that incorporate violence:

  • TV: WWF programs, MXC on SpikeTV, Gordon Ramsey on Hell’s Kitchen (he throws plates!)
  • Movies: Kill Bill series, adaptations of graphic novels like Sin City, the Saw franchise
  • Songs: rappers like Eminem, 50 Cent, Lil Wayne, etc.
  • Other forms: videogames like Grand Theft Auto, Resident Evil, etc.

Remember that you won’t use every single one of these examples, but making a list and expanding upon the topic will help you brainstorm what points you’d ultimately like to make. Now it’s time to decide how you’d like to use these examples. Do you want to say that Saw and Grand Theft Auto are detrimental to society or do you prefer to argue that they represent harmless escapism? Don’t simply choose the side with which you agree. Let the examples and your own knowledge and background dictate which side you support.

For example, someone with a lot of knowledge about psychology may argue persuasively that exposure to violence leads to increased violent behavior in children, whereas a history buff may put forth that violence as entertainment has historically always been a normal part of human expression. You will not be scored on your opinion, but on how clearly and forcefully you make and defend your argument. Choose one or two main points based on your own knowledge, and then choose specific examples from your brainstorm list to support your conclusions.

For more GMAT essay help, check out the Grockit forums.

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Paying for Business School, Part 2

Tuesday, April 20th, 2010

This is the second article on Paying for Business School (click here to read Part 1). Short of having a rich uncle that has dreamed of you getting your MBA for years and wants to pay for the whole thing, there are a couple of options for you to help ease the burden.

Loans: Student loans.  Most MBA students who are not rich or on a full scholarship use this option.  There is not much to say as it is really your only way to borrow money for living and tuition and the rules are changing for these loans as the Federal Government assumes a larger role.  I do suggest that you read the loan terms carefully and become aware of your obligations and rights, as it will be a lot of money.  If you are coming from overseas this process can be a lot more painful and the Feds will not be there to help you out.

I signed up for one that gave a discount on the interest rate if you signed up for direct withdrawal for a year after school.  That’s not a bad deal and something that is not very hard to do, although I did feel a bit surprised when the first withdrawal took place a month earlier than anticipated.  Also don’t forget that you can defer these loans if you, like many current graduates, cannot find employment right after school.

Taxes: Tax write-offs exist for both your tuition and the interest you pay on your loans.  Ask your accountant to determine if you qualify for the tuition write-offs, but almost all of you will be able to write-off your interest.

Jobs: The final piece of advice is to find employment.  There are two types of jobs one can get during business school and I suggest both of them.  The obvious one is the summer internship, and even if you don’t go into banking or consulting gigs you can still make a decent amount of money for three months of work.  Some even offer signing bonuses.  Secondly, there are many teaching assistant jobs for students, which basically consist of grading exams and leading some study sessions.  At least at my school they paid fairly well for not being very taxing.  If you want one of these you need to both excel in the class and become friendly with the professor.

I was fortunate enough to land an Economics TA position and it helped me at least stop the hemorrhaging from my checking account for a couple of months.

That’s all the advice I have on this.  It will be expensive any way you run the numbers, but if you do some of these things it will be slightly easier.

Good luck.

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Paying for Business School (part 1):

Monday, April 12th, 2010

We have already covered the NPV (Net Present Value) of business school, so if you have decided that it is in your interest to attend, how do you pay for it?  Short of having a rich uncle that has dreamed of you getting your MBA for years and wants to pay for the whole thing, there are a couple of options for you to help ease the burden.

Save: The first of course is to save ahead of time and the best way to save is a tax free way.  The option that I took advantage of is the 529 plan.  Every state has different rules on this so please check, but you can open a college savings plans even for yourself. You will save on taxes and if you end up not going to school, you can always transfer the money, tax-free, to another 529 plan for your children or spouse.  Your parents or even that rich Uncle can also set one up and if you end up not going, or even not using all of what they saved they too can transfer it to another person.

Clearly I did not save enough to cover the whole two years, but it felt good to spend tax free money from when I was actually making money during that long two year period of being without a paycheck.

In-state: The next step is only comes into play at certain state schools.  The UC system offers great in-state deductions and if you are planning on going to UCLA Anderson, UC Berkeley’s Hass or any of the other UC schools you should establish residency as soon as possible.  Even if you do not qualify for in-state rates in the first year, you can apply in the second year and save almost $10,000.  The best way to establish residency is to open a local bank account, register to vote, get a driver’s license, register your car, get a summer internship in California and pay some taxes (which will happen if you get a summer internship).  You will have to apply during the summer in between school years, but it is well worth the effort.

When I received the letter from the state of California I was more nervous opening it up than opening the acceptance letter.  It felt like the lottery, and in many ways $10,000 difference really is.

Fellowships: The next step is to seek out scholarships or fellowships.  Go onto the school’s website and view the list of fellowships and scholarships available.  Sometimes they will be offered to you if you are a stand out applicant, but for some writing a letter or calling the school has paid off.  If you believe you are uniquely qualified for one of them go for it.  It does not hurt to ask, especially once you are been granted admission and before you have accepted.

If you are lucky enough to receive one of these make sure to find out of the person giving it is still alive.  I almost lost mine for not writing him a thank you letter, because for some reason I assumed it was in honor of a person who had passed away and not a generous living breathing alum.

Posted in Business School, Financial Aid, MBA Life, Series | 2 Comments »

MBA for Career Switching, Part III

Monday, March 8th, 2010

The internship. After a couple months of developing a solid network of industry alums, recruiting season will kick off.  If you are going for the big three banking, consulting or CPG this will be a very structured process and take place in January to February generally.

The internship is very important for a couple reasons.  First of all it will be nice to make some money again after taking almost a year off, and secondly it will be your first chance to establish yourself in your new industry of choice.  At this point classes need to go on the back burner, but you need to be honest with your study group about this and make up for it later when they are going through the same process.

Once again you need to be well prepared for these interviews.  You need to do plenty of background research on the company, as well as be well versed in the details of your resume.  Be prepared to answer questions on the size, profit margin and revenue on past companies.  If you do not know it, have a reason in hand as to why you cannot provide that answer.  If you are going into banking for example, you need to have clear logic as to why, other than the huge paychecks, you want to spend 20 plus hours a day working in excel.  I do not have the answer for you, so you need to come up with that one on your own.

If you are trying to do something that is outside of the common business school internships (my congrats first of all), this is when all of those contacts you developed will really come in handy.  Hopefully at this point you have cultivated at least a handful of good contacts from the many informational interviews you have had.  These good contacts are the people you should be corresponding with periodically to let them know you are ramping up efforts to find an internship and would appreciate if they would keep their eyes open for an opportunity.  If the career you want is really hard to get into and you have limited relevant experience, you might also want to take a more aggressive step of trying to set up an academic internship.  These internships are easier to sell to companies and a great way to get your foot in the door, plus your resume does not need to state “unpaid” on it.

In the mean time continue to go to industry event nights, which should be hosted by the clubs you are in.  At this point you should be starting to narrow down your career path, which should enable you to drop some of the clubs and focus your efforts on the others.

If your career path is really a difficult industry to get into you might need to continue your academic internship through the summer and hope that they take some pity on you and pay you for your efforts.

See my other articles in this series:

Posted in Application, Business School, MBA Life | No Comments »

The Business School Application Process: Step 8: Applying for financial aid

Thursday, December 3rd, 2009

Let’s be realistic: business school ain’t cheap.

Now that you’ve completed the applications for admission at each of your schools and programs, you’re almost done. You’ll still need to pay for school, and in order to obtain scholarships and loans, schools require you to submit financial aid applications.
Step 8: Apply for financial aid and scholarships.

In order to apply for financial aid, you’ll need a massive stack of information. Perhaps most crucial in that stack of information: your taxes.
Gather all required application forms and information from each school’s website or other information provided to applicants.

Even if you haven’t heard anything from the programs you’ve applied to, go ahead and submit a financial aid application. Don’t wait for your decisions to start rolling in. In fact, most schools will tell you not to do so. Be sure to find all instructions and deadlines. You should have marked these dates on your application calendars a while back and you should have printed out all the required information and placed it into your application file box. Retrieve all that information now so you can complete the final step.
Retrieve or complete your current year’s tax returns.

In order to complete the FAFSA (Free Application for Federal Student Aid), you’ll need your tax information (and possibly your parents’ info, too). While it’s not 100% necessary to actually file your taxes, you’ll need information that essentially requires you to complete them, so why not submit them? Generally, if you’re under age 30, you’ll also need your parents’ tax information, too. Check with the schools to which you’ve applied to find out if parental information is required; requirements vary from school to school.
Complete a FAFSA.

Virtually all schools require the submission of the Free Application for Federal Student Aid (FAFSA). Your FAFSA is used to determine any need-based grants and your loan awards. New forms are available each year starting January 1st. Get started as soon as possible, as many schools’ deadlines are as early as March 1st.

You’ll need the school codes for each program to which you’ve applied. Codes can be retrieved from each program’s website or you can search for a school/program by name and location as you complete the FAFSA online at http://www.fafsa.ed.gov/.
Complete any required school-specific forms.

Some schools have a separate financial aid application you’ll need to complete, and this application is often available online or will be sent along with admissions information. If you haven’t found anything yet, make a call to the financial aid office to find out if there’s anything you should be completing and sending their way.
Apply for every possible scholarship!

Schools and private organizations often offer scholarships ranging from one-time $500 awards to renewable full-tuition awards. Usually, applicants for such a scholarship are asked to submit a topical essay and/or other information (letter of recommendation, résumé, etc.). There are tons of books available at your local bookstore and loads of information available online regarding such awards. Check your schools’ websites and hit the bookstore or your local library. Make a list of all the scholarship programs you’re eligible to apply for, and make a run at every dime you might get to help fund your education.
Research educational loans.

Chances are good you’ll need some loans to help fund your life through business school, and it’s never too soon to prepare. Get a credit report so you’re aware of your current standing, then research educational lenders. The financial aid folks at the schools you’ve applied to can offer you more information on public and private lenders with whom they work.
Hurry up and wait.

Everything is now officially on its way! Many schools will email you to confirm acceptance of your application materials, completion, and decision status, but some won’t. The waiting game you’ll play between application submission and decision notification can be nerve-wracking. Pick up a hobby. Throw yourself into work with new vigor. Read more books. You might hear in a week, but you might not hear anything for several months. Remember that each applicant is different, and try not to hedge bets on whether or not you’ll be accepted or rejected. There’s only one way to find out, and you’ve done all you can. Only time will tell.

Good luck!

Check out other articles in this series:
The Business School Application Process Part 1 – Building Your To-Do List
The Business School Application Process Part 2 – Managing the Application Process
The Business School Application Process Part 3 – Test Preparation
The Business School Application Process Part 4 – Transcripts and Paperwork
The Business School Application Process Part 5 – Recommendations
The Business School Application Process Part 6 – Essays and Personal Statements
The Business School Application Process Part 7 – Making it Official – The Applications

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