If you have trouble reading this e-mail, go to http://www.businessweek.com/bschools/newsletter/index.html

July 18, 2008
MBA Express

NEWS THIS WEEK'S TOP STORY

Business Schools Mull Scandal Options

As top MBA programs await details of a "cheat sheet" probe, penalties, including expulsion, are on the table
-Plus: Debate Room-Punish Cheaters?

MORE TOP STORIES

GETTING IN
B-Schools Tackle Risk Management
With the debt market meltdown, the specialty examining exposure to risk is in the spotlight at business programs across the country

MBA JOURNAL: FIRST YEAR REVIEW
A Tale of Two Days
"The same group of people gathered in the courtyard in August as well as a few weeks ago, but we were clearly different"

MBA JOURNAL: FIRST YEAR REVIEW
Highs and Lows at Michigan
"With first year fresh in my mind, how can I possibly condense it without scaring people to death?"

MBA JOURNAL: FIRST YEAR REVIEW
Favoring Finance
"There exists a misconception—in business and in some groups at Cornell—that finance and sustainability are polarizing topics"

ADVICE
Graduation Wisdom for Future CEOs
While commencement speakers at top B-schools dodged the recession issue, one imperative was stressed: Leaders will have to adapt

B-SCHOOL FORUMS

Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:

Getting into B-School: Finance Track Advice

From: CPACFA2008
To: ALL

What is the typical progression of someone out of a top B-school [who] wants to ultimately become an equity portfolio manager? Is the track generally, get in with a fidelity (or the like), spend two years as an industry analyst, then a few years writing reports on specific companies then ultimately joining the port management team and making investment decisions? Any specific skills that are a must besides the more obvious (analytical, communication, etc.)?

I appreciate you thoughts, thanks.

------------
From: EconDork
To: CPACFA2008

That is the ideal track, however if you can't get straight in to buy-side research (check Capital Group too, they have an awesome program) then I would also go for sell side research at a major investment bank. Most of those people put in a few years then go to the buy side. Since you are 'selling' your research to the buyside you will gain a lot of contacts as portfolio managers, HF guys will be calling you once your name is on published research. Also note the path to a PM various significantly from firm to firm, where some firms research analysts are on a PM track while others are career track research analysts.

------------
From: illFlava
To: CPACFA2008

There really is no set path.the 1 [you] described is certainly the most direct, but it's also difficult to get into fidelity and such and move up.

working as a sell side research analyst at a bank, becoming an MD and then transferring is pretty easy way, but [you're] an MD making over a million a year, so [you] might not wanna leave.

There are thousands of small funds out there, mutual, hedge funds, private wealth mgmt...If [you] find a good mentor at a place and [you] have solid performance then [you] will get there...are [you] getting CFA?

----------------------------------------------------------

Getting into B-School: Advice for Old Warriors

From: devil
To: All

I have scanned nearly all the significant MBA forums, worshipped long at the altar of lord Google but still haven't found any good advice for older applicants (31 plus), who otherwise have statistics in the park(GMAT above 740, GPA 3.5, good leadership experience etc). While advice for waitlists/reapplicants/early applicants is plenty.

My request to all the experts on this forum to contribute their perspective on tactics and strategies for older applicants? Also opine about top-15 schools which are older applicant friendly?

Thanks in advance

------------
From: straightshooter
To: devil

devil,

I believe you could look into some top ranked European schools (IMD, INSEAD) which are 1 year, and are more welcoming of older applicants. If you strictly want to be in the US, then apart from H/S which I hear increasingly are not that friendly to older applicants, you could try Columbia, Chicago. I know some from Columbia who were mid-30's but had no trouble getting in.

------------
From: MBAApply
To: devil

You probably already know this, but full-time programs are designed for students who are early in their careers (i.e. younger than older).

However, the lower ranked schools (below top 16) are more willing to overlook your age if you have an exceptional GMAT score (740+) and a decent resume. Even schools outside of HBS, Wharton or Stanford are willing to overlook your age if you have an exceptional GMAT, decent resume, and a very clear idea about what you hope to get out of an MBA which may be a little different than someone who is 5+ years younger or in a different stage of life than you are.

Also, keep in mind that not all older applicants are treated equal. If you are in investment banking or management consulting, there is a "best before" date simply because after 3-4 years in these jobs you should be already at a post-MBA level, making it much harder to justify why you need an MBA. For IT consulting, engineering or corporate (HR, marketing, product mgmt, etc.) the sweet spot is around 4-6 years experience. If you are in your early 30s and in any of these fields, you will have an uphill climb (I know, you'll get people here posting anecdotal stories about how they know so and so at this school who is 42, and so forth - but statistically, at full-time programs the overwhelming majority are under 30). If you are older and in this group, it is absolutely essential to have exceptional GMATs, a strong resume (you are held to a higher standard simply because you have more experience and therefore should have more accomplishments), but at the same time being able to convince the adcom why you really need an MBA at this point in your life if you're already that much more successful than your younger counterparts. And beyond that, you need luck - adcoms can admit or reject you for *any* reason or *no* reason, and if an adcom happens to dig your story, you will get the green light.

Now, if you don't come from these fields - i.e. you are a military officer, a PhD researcher, lawyer, physician, schoolteacher, priest, nonprofit professional, etc. then age becomes less of an issue (and you'll see that most of the older folks at full-time programs are from non-traditional backgrounds). If you are in this group, the key issue you need to convey is why you need an MBA and why you are making such a significant change in your career at this point in your life. It's got to be specific, clear and sincere (all easier said than done in 500 words or less in the essays). And with schools that ask about "contribution to the MBA community" -- its not really about your age, and more about how your non-traditional professional background can be a valuable resource during classroom discussions.

Alex Chu

------------
From: brosas
To: MBAApply

Just from my personal experience and those I am familiar with, the GMAT means less and less as you get older. I was told by a number of adcoms my low GMAT score was not a serious factor and it was definitely more so what Alex is alluding to: WHY!!!!! If you are a career switcher, explain why you are making the change, and stray from using the old, "I am bored with my job", "I have maxed out", or "I need it to get to the top". I think it is imperative for you to explain your thought process and what the MBA is going to get you that working will not. Most of us that are older have already been successful, at this point, you dont need it to get further. Explain why your past successes or failures have brought you to this point in your life. Whether it be looking for more rounding before you start your own company, or you are interested in a dramatic change because you were given a brief glimpse. Make sure you are showing that you really know what you want, because at this stage in your life, you are not young anymore, you should really have a much better idea of what you are after.

Of course many others might have different perspectives, and the individuals who offer assistance probably have a lot more experience with this sort of thing. Simply look for those of us who are older and ask what tactics we used to get in. Also, there was a thread about older applicants and H/S/W. Look for this thread since there are quite a few of us who are in good schools, including a few from H/S/W and how they applied.

B-SCHOOL BLOGS

View over 4,500 blogs in our MBA Blogs community today! Share your journey, meet new friends, and expand your network. Connect with MBA students, applicants and alumni from Columbia, Kellogg, Notre Dame, and more! Become a blogger today! Here's an excerpt:

It's the Hard that Makes You Great
By Nick Hopkins (BYU MBA Class of 2008)

Comments: 0 Stars: 0

It seems that oil prices will never go down, so this is a world that we are going to have to get used to. It is nuts what a effect oil prices have on my job and company. It is crazy every day to look in the Wall Street Journal and The New York Times and they are speaking doom everyday for the airline industry and company you work for. It is not an easy way to live, going week from week with no good news and just hoping your company can continue strong.

I read an article how most MBAs do not get their dream job right when they leave their program, especially in challenging financial times such as now. I have accepted that, and have come to accept and understand that this is a challenge. I choose to work for the airline industry, so I need to accept all the difficulties that come with that choice. Because of hard times we have had to install a hiring freeze and have had to find ways to get more done with little. This is all pretty hard, especially when you come out of your MBA with dreams of a perfect job and a steady industry.

My favorite quote of all time was from the movie A League of Their Own when Tom Hanks character who was a coach of the baseball team featured in the movie was speaking to one of his players who was quitting the team because it had gotten too hard. What he told the player was one of the greatest movie quotes of all time: "Of course it is hard, if it wasn't hard everyone would do it. It is the hard that makes you great." I think about how nice it would be to get a job out of my MBA in a steady company where things are going great, but then again where is the challenge in that? When things are going good it is easy for anyone to be successful, but when things are hard that is when someone can come in and make a difference and get that chance to shine. To say I survived and lived through the oil crisis of '08 in the airline industry I believe will only make me a better person. It is the hard in life that can make someone great. When things are easy anyone can succeed, but when things are hard that is when someone has to become great to survive and make a difference. Sure, the airline industry is pretty crazy and is struggling, but it does give me an opportunity to go in and make a difference and become great. I believe BYU has given me the tools to make a difference, and I want to go forth and make a name for myself and my school, and this environment today in the airline industry I believe has given me the chance to do so.

FOR THE FULL VERSION

WORDS OF WISDOM

Admissions Directors Admissions directors offer advice on choosing references
-------------------------------------------

Letters of recommendation are meant to provide additional information to the Admissions Committee on who the candidates are. As applications are evaluated holistically at our school, references are taken very seriously in making the final admission decision. Candidates may come across as solid in terms of previous academic performance, GMAT as well as work experience. The Committee will examine the references to find out if it reinforces the same impression that we get from the overall profile of the candidate. We are more interested to read letters of recommendation which are written by people who know you fairly well either academically or professionally and able to identify your abilities, development areas as well as management potential to recommend you. References that provide specific examples of your character, skills and accomplishments and reinforce your motivation for attending b-schools and how you will fit into the particular schools you are applying to. It is important to explain to your referees about the MBA education and the offerings of the b-schools you are applying to as well as your motivation to study at those particular schools. Remind the referees of those activities and projects, which you have achieved successfully. Finally, you should choose someone who you can trust to deliver a thoroughly written letter of recommendation on you. --Connie Tai, RSM

Select people who know you well, whether it be professionally or academically. Don't just get a reference for the sake of getting a reference. --Reena Lichtenfeld, USC (Darla Moore)

The most meaningful references come from current or previous supervisors - people who have had the opportunity to both observe and evaluate your performance and social skills in a work environment. I am frequently asked if it is appropriate to submit more than the required number of references. One or two extra references are fine, as long as all of the references are strong. In other words, don't think that more is necessarily better - two strong letters go a lot further than four mediocre ones. --Laura Parks, University of Florida

It is best to choose someone with whom you have worked directly. Do not pick friends or just colleagues, but someone you reported to long enough so that this reference can comment on what you have accomplished and what you can achieve. Also get a reference from someone who is external to the organization (i.e., a client). --Admissions Team, Theseus International Management Institute

This newsletter is a FREE service provided by BusinessWeek.com.

To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page.

If you need other assistance, please contact Customer Service
or contact:

Wanda Cooper
BusinessWeek Customer Rights
Communications Data Services
1995 G Avenue
Red Oak, IA 51566
Phone: 1-800-635-1200

View our corporate privacy policy here.

To learn more about how BusinessWeek.com applies this policy, you can contact our Marketing Department.

Copyright 2008, by The McGraw-Hill Companies Inc. All rights reserved.
Terms of Use | Privacy Notice

B-School Insider

Dear Reader:

The investigation into users of a GMAT prep site that allegedly gave some users a sneak peek at current test questions goes on. As our lead story ("Business Schools Mull Scandal Options") this week notes, business schools are waiting to hear whether any of their students or applicants are implicated, and, if so, what disciplinary options are available. Also new this week is a Debate Room feature that gives readers the chance to weigh in on possible penalties for applicants who may have gained an unfair advantage from the site.

Also this week, we take a look at how B-schools' risk management programs are reacting to the financial markets and three of our MBA Journal writers offer their summing up of the recently-ended academic year.

Until next week,
Phil Mintz
B-Schools Channel Editor

E-MAIL A FRIEND | GET RSS | NEWSLETTERS

B-SCHOOLS NEW ON MBA INSIDER >>

How Northwestern Handles Admissions
Kellogg's Beth Flye explains how the B-school sizes up applicants and talks about who is likely to make the cut

MBA Insider Subscribers Only

B-SCHOOLS MULTIMEDIA MBA >>

A VC Perspective on the Life Sciences
Beth Seidenberg, partner at venture firm Kleiner Perkins Caufield & Byers, speaks at length about KPCB's current areas of interest, and its litmus test for projects worth supporting. Seidenberg also offers a case study of a life sciences firm moving from research lab toward market

What’s Your Problem?

We all have workplace problems. Share with us, and your fellow readers, the hurdles you've faced—and how you've tried to clear them.

IN YOUR FACE: GMAT CHEATING SCANDAL

Reader RandyShinerUSA Writes:

"Cancelling the scores and perhaps waiting a year until the questions on the real, live tests have changed would certainly test a person's business ethics."

Tell Us: Should MBA Prospects Who Used Scoretop.com Be Penalized?

Tools & Features

MBA Insider
Check out this feature-rich area for advice and tools that will help you choose the right B-school -- and develop a strategy for getting accepted

Full-Time MBA Rankings & Profiles
BusinessWeek's Top 30 U.S. programs and Top 10 international programs. Plus, scan in-depth profiles of more than 300 full-time programs around the world

The Best Undergraduate B-Schools
Undergrad business programs are getting MBA-like respect, and competition to get into them is hotter than ever. Here's how the top schools stack up

B-School Calendar
BusinessWeek.com's scheduling tool will give you an idea of upcoming events at B-schools in the U.S. and around the world. You'll find information on admissions receptions, application deadlines, networking events, alumni events, conferences, and much more.

EMBA Rankings & Profiles
BusinessWeek's biennial Executive MBA rankings grade 25 programs worldwide. Plus, you'll find profiles of nearly 200 programs

Exec Ed Rankings & Profiles
Here are BusinessWeek's top 20 Executive Education programs. Plus, profiles of more than 100 programs worldwide

FEATURED SPECIAL REPORT >>

Graduating into a Recession

Slide Shows

Recession-time MBAs face tough choices—and more modest earnings over their lifetimes

Find Online MBA Programs Compare top ranked Online MBA programs. Flexible Options for working adults. Free information.
Find Online MBA Schools Search, compare and request information from top-ranked online MBA degree programs.
Fear the GMAT? Veritas offers More of Everything 99th percentile GMAT instructors, 15 practice tests, and twice the hours of Kaplan: 42-hour evening and 36-hour weekend courses, private tutoring, free GMAT seminars, and customized MBA admissions help from HBS, Stanford, Wharton, and Kellogg grads.
ExxonMobil Taking on the world's toughest energy challenges.
Study accredited UK postgraduate degrees Earn an industry focused accredited masters degree in 1 year full-time or 3 years online. Ranked 2nd in UK for employability by FT. Aberdeen Business School offers courses in business, information and law. We are based in the oil capital of Europe.

MUHAMMED SALIH.S

About Me