You’ve probably read that applications to MBA programs have been trending down in recent years. So you might think it’s slightly easier to get into a ranked business school.
A new analysis of application volume and acceptance rates at the top 50 U.S. business schools shows that at the vast majority of MBA programs, applications are up and acceptance rates are predictably down. This past year it was tougher to get into a highly ranked business school than it was the year before.
In fact, the more ambitious your target schools were, the more likely it was that you faced more competition than you would have if you applied in 2012. Eight of the top ten schools were harder to get into in 2013 than in 2012. The only Top 10 exceptions–and the increase in the acceptance rate for these two exceptions was so small as to be inconsequential–were Dartmouth College’s Tuck School of Business and UC-Berkeley’s Haas School. At Tuck, the admit rate climbed ever so slightly to 20.8% from 20.4%, while at Haas, the acceptance rate inched higher to 14.3% from 13.8%.
At the University of Chicago’s Booth School, MIT Sloan, and Columbia Business School, acceptance rates fell significantly. Booth went to 21.0%, from 23.0%; MIT to 13.1%, from 15.6%, and Columbia to 18.1% from 20.8%.
Some of the biggest changes, however, occurred outside the Top 10. The University of Michigan’s Ross School of Business, for example, saw its acceptance rate fall to 33.7% from 40.6% in 2012. The latter number was something of an aberration for Ross caused when the school decided to shut down its co-signer loan program for international students. Ross decided to admit more candidates to offset the expected decline in offers from prospective students who decided not to go to Michigan because of the loan issue.
The schools with the lowest acceptance rates? Stanford, where 93 out of every 100 applicants gets dinged; Harvard, which turns down 89 of every 100 candidates; MIT Sloan, which rejects 87 of every 100; Berkeley, which says ‘no’ to 86 out of 100 candidates; NYU Stern, which turns away 84 of every 100, and Columbia Business School, which passed on 82 out of every 100 prospects. The trend is obvious: MBA candidates love to study on the West or the East Coasts, in the San Francisco Bay Area, Boston, or New York City. It doesn’t hurt that all these schools are among the very best in the world.
All told, 30 of the Top 50 schools reported lower admit rates, while 20 had increases, generally just a fraction or two above what they had reported in 2012. There was no major falloff at any of the Top 50 schools–at least not discernible by examining year-over-year data.
When it came to application volume, the same story held true. The vast majority of Top 50 schools–33 full-time MBA programs–reported receiving more applications in 2013 than they had in 2012. Generally, the highest ranked schools did better. Nine out of the Top 10 MBA programs reported application increases, with the only exception being Duke University’s Fuqua School. But even at Duke the decrease was inconsequential: 3,150 applications in 2013 versus 3,161 applications in 2012–a difference of only 11 applicants.
The more highly ranked MBA programs also reported the largest single increases: Chicago Booth was up 10.6% in a single year, Northwestern Kellogg was up 9.9%, while MIT Sloan saw a 9.6% jump in applications.
To see the acceptance rates and application numbers for all Top 50 schools, check out PoetsandQuants.com:
Originally Posted on LinkedIN by: John A. Byrne
Every sector or profession comes with its own set of demands but when it comes to management there are certain skills and character traits that are always transferable.
Whether you look at a successful leader in manufacturing or in a service industry, you will see that they share very similar skills. Here are just a few of those:
If you want people to go that extra mile then you have to be prepared to show them how it is done. The best managers and leaders are those who set an example by working the hardest and making the most effort. Managers who are complacent will either attract like-minded individuals or create a sense of resentment from their staff.
Good communication removes any doubt or misunderstanding from the workplace. That means making it absolutely clear to your staff what is expected from them. Steer clear of unnecessary jargon and double check that when you have briefed someone they have properly understood everything. However, the art of good communication is also about explaining the vision and values of a company. Every single employee should grasp exactly what the company stands for, and as a manager it is your responsibility.
The soft skills of management should never be underestimated. If you want to get the very best from people you have to be able to understand exactly what it is that makes them tick. We are all complex and complicated individuals and are motivated in many different ways. Some are driven by financial incentives whereas others are focused on constantly developing their skill set. Some people need constant encouragement but others are more individualistic. The very best managers are the ones who are psychologically tuned in to all of their staff. Get that right and half the battle is already won.
This is important at all times, but particularly in tough situations. Managing is not something that can be done half-heartedly and every decision should be taken with real purpose and decisiveness. Employees can very easily spot when somebody is not in control, so it is important you are never unsure of yourself. Whatever the situation; remain calm, gather all the necessary information, and make your decision with conviction.
Keep up to date with all the latest news, jobs and videos at Hamilton Bradshaw
Originally Posted On: LinkedIn By: James Caan
A growing number of experts question educator’s traditional approach to assessing and developing intelligence. Howard Gardner, from Harvard University, explains that traditional measures of intelligence such as IQ (Intelligence Quotient) tests fail to take into account cognitive and interpersonal abilities, which are equally important in learning and personal development, and of course for professional success, particularly in business. Indeed, traditional educational systems, and measurements of IQ, have tended to emphasize linguistic and logical-mathematical forms of intelligence, largely overlooking others.This may well explain why so many artistic talents and innovative thinkers have emerged off academic backgrounds, and why outgoing people tend not to pay much attention to conventional ways of learning. Might this not also explain why some of the most important entrepreneurs of our time, such as Steve Jobs or Bill Gates, have little formal academic training?
Based on studies about intelligence that precede Gardner’s work, other scholars, like Daniel Goleman, have contributed toward the theory of emotional intelligence, the ability to perceive, understand, and integrate intelligence in the way we behave, and thus increase our personal development. Goleman explains that emotional intelligence is not innate -something that we are born with, but that we learn along the way- and is reflected in a series of skills that can be developed through repeated practice, such as self-awareness, social awareness, or relationship management, all of them likely to improve one’s management skills.
We have all come across students with a prodigious analytical ability, but who lack the emotional intelligence to be leaders, and it is easy to see that if they do not change, they will never gain significant positions in any company or organization. Similarly, there is no shortage of CEOs or heads of state with average IQs, but who have learned to develop their emotional intelligence.
Current research into the links between intelligence and education provide business schools with two major insights. The first is that despite earlier insistence that intelligence, as measured by IQ tests, was the result of genetics, it is now clear that intelligence is modifiable by the environment and education. The second is that teachers’ input and interaction with students is key to the development of intelligence. We will all hopefully have come across at least one teacher in our lifetime that demonstrated the ability to extract our maximum potential.
Finally, a contribution based on my own experience as a teacher and dean of a business school. There are myriad forms of intelligence that can be cultivated and strengthened in adulthood. At IE we have seen how people with a wide range of experience have increased their interpersonal skills, their ability to lead, or their ability to understand and analyze complex problems. Logically, developing these types of intelligence among senior executives and directors requires modesty, along with an openness and willingness to learn new things.
Originally Posted On: LinkedIn By: Santiago Iniguez
Photo: IE Business School
Wall Street, which substantially cutback hiring of MBAs during the Great Recession, may be making something of a comeback. A new survey shows that the largest single increase in MBA recruiting this year is in the financial services industry. The survey by the MBA Career Services & Employer Alliance found that roughly 42% of the responding business schools reported that financial services showed increased full-time recruiting, the strongest increase when compared to last year when only some 33% reported increases. Anecdotally, the Alliance said, some schools attribute the rise to an increase in student interest in that industry. This, in turn, leads to more focused efforts on the part of the school and recruiting firms.
Slight increases were also experienced in real estate, petroleum/energy and technology, with consulting--which had picked up the slack from lower hiring by finance in recent years--experiencing a decline. The only industry that showed a large decrease in recruiting activity compared with last year is government, according to the Alliance's Fall 2013 Recruiting Trends survey.
Overall, there was generally good news in the report. Some 43% of respondents report an increase in on-campus recruiting for full-time jobs, while 56% of respondents report an increase in full-time job postings. About 27% said on-campus recruiting remained unchanged from last year, while 20% said it was down. Some 29% of the schools reported increased on-campus recruiting for international students, with only 14% reporting a decrease. The majority--57%--told the Alliance that international recruiting stayed the same.
Internship hiring appears to be positive as well, with 47% of respondents experiencing an increase in recruiting and 65% seeing an increase in job postings. The greatest increases in internships were seen in the financial services and technology industries, with government showing the largest decrease. Consulting saw a slight decline for internships as well.
The results are based on surveys completed from Jan. 13th through Jan. 24th from 76 full-time MBA programs largely in North America and Europe. Some 85% of the responding schools are in North America, while 13% are in Europe.
“It’s very encouraging to see an overall continued increase in recruiting for MBA graduates and interns this year,” said Mark Peterson, MBA CSEA president, in a statement. “2013 turned out to be a solid year for MBA employment, so the large majority of schools reporting stable to increasing trends indicates very positive hiring as this year’s recruiting season progresses. That the financial services industry is showing strengthening recruitment this year is welcome, and indicates continued recovery in this important arena for MBA jobs after the downturn experienced in recent years.”
To see our ranking of the top 100 U.S. MBA programs, check out PoetsandQuants.com:
The Top 100 MBA Programs in the U.S.
The Top 50 MBA Programs Outside the U.S.
Originally Posted On: LinkedIn By: John A. Byrne
When you think about being an entrepreneur, learning about how to run a business and sell is what comes to mind. I think that the real learning and growing comes from how being an entrepreneur challenges you internally. Sometimes, as business owners, we are what's holding us back. In order to reach success, we must change.
Being any type of entrepreneur is going to change your life, from work hours to how you motivate yourself. Those are the easy lessons. The longer you're in business and the more success you have, the more change comes.
2014 has been a year of change for me personally, I am breaking through my boundaries and enjoying it. I am having to become a different, stronger person and I actually love it. Normally, I come from a place of wanting to make everyone happy and to get where I want to go that has to change. I've had to be assertive and sometimes politely confrontational. This isn't my nature but it's empowering. It's like my business sees my weaknesses and wants me to be stronger. The benefit in doing that is my business will also be stronger. I never thought change was going to feel so good.
Impossible Becomes Possible
Starting a business or running it for that matter, makes you realize the limits of what you think is impossible, really isn't. I can't count how many times I've thought, 'I don't know how I'll get through this', and yet I somehow make it through. Each week that I think is impossible, still goes by. More things become possible and I can handle more than I thought before.
Being an entrepreneur constantly pushes your mentality and thinking. You begin to think bigger and do bigger things. Go and do! Accomplish the impossible.
Business is not Personal
One of the first lessons I've learned is that I can't take business personally. When doing business with others, there are many times that things happen that you could take as a personal critique. Separating that is necessary to survive but also helpful in other aspects and relationships in life. When people are talking about your business, they're not talking about you even though, to you, it may feel like it.
So take a deep breath and remember, it's business. Create a response and thinking that accomplishes your business goals without compromising relationships. This doesn't mean you can't stand up for yourself because you should, in a professional way.
I could go on and on about the lessons I've learned and how I've become a better person having run and started my own companies. These are three of the most important lessons.
What are lessons that you've learned as an entrepreneur? Comment and let me know!
I'm a serial entrepreneur based in Phoenix, with a variety of small businesses. Want to hear more of my experiences? Connect with me on Linkedin and follow me on Twitter, @KyleClaytonGore.
Originally Posted On LinkedIn By: Kyle Clayton
It’s hard to gauge the outcome of a job interview. As an executive recruiter, I had candidates call me and excitedly report how well an interview went, only to learn the client was not impressed.
I had that exact experience myself. In the 1990s, I interviewed for the top PR role at United Airlines. At the time, I headed communications for Nissan North America and felt I had an inside track because the CEO of United was Gerald Greenwald, an auto industry veteran who had spent decades with Ford and Chrysler.
Greenwald and I not only had the car business in common, but we also graduated from the same public high school in St. Louis. As an added bonus, my mom claimed that Greenwald was a distant cousin through some convoluted connection involving my Aunt Radine.
“Make sure you mention Radine,” my mom said as I was preparing for the interview.
Despite meeting their entire senior management team, I did not get the job. United apparently preferred someone with airline experience. Go figure.
Sometimes you absolutely know you will not get an offer. During the dot-com boom, I interviewed with the 29-year-old cofounder of a prominent incubator in Los Angeles. Before the interview, I had to take off my tie in the parking lot and dress down for the meeting. The Web millionaire looked at me like I was the oldest guy in the world and then asked, “So what websites do you like to hang out in?”
Needless to say, I did not get that job.
The most puzzling interview came when I was a finalist for the top communications post at a major Hollywood studio. I was interviewed by the head of the company, a very powerful and rich guy. He was surprisingly gracious and warm. He opened the conversation by saying, “Tell me a little bit about yourself.”
Being a guy who takes things literally, I gave him an overview of my resume: graduation from NYU, years in the agency business, and my experience leading the communications function.
He then proceeded to talk – for the next 55 minutes. I’m not sure he took a breath. At the end of his dissertation, he said, “Enough about business. Tell me what you like to do when you’re not working.” I told him I liked to travel, which elicited another 10 minutes on his recent trip to Fiji.
Though I didn’t do much talking, I felt like the interview went well – the mogul seemed enthusiastic and engaged.
A few days later, I talked with the headhunter who arranged the interview and told him I thought everything went great. “Well,” said the headhunter, “it wasn’t so great. He thought you were too laid back.”
I was puzzled by this response until I remembered a prominent movie about Hollywood, The Player, which focuses on the struggles of a powerful entertainment executive.
In the film, there is a constant stream of screenwriters pitching movie ideas and their challenge is to capture and convey a compelling concept in less than 60 seconds. The pitches consist of quick lines such as “It’s like Out of Africa meets Pretty Woman,” or “Imagine Goldie Hawn goes to Africa and gets captured by a tribe of little people.”
No wonder I didn’t get the job. Instead of wasting precious time droning about my experience, I should have just said, “I’m like the Jason Bourne of PR.”
Or maybe I simply wasn’t who they were looking for. In the end, there’s usually one strong reason a person doesn’t get the job – he or she is not the right fit. (This article appeared in the February 2013 issue of PR WEEK)
Don Spetner has served as CCO for Nissan North America, Sun America, and Korn/Ferry International. He can be reached at firstname.lastname@example.org.
Originally Posted On: LinkedIn By: Don Spetner
Meet the Team
WorldBridge Partners earned the Best of Staffing®Award for providing remarkable service quality. Fewer than 2% of all staffing agencies in the U.S. and Canada earned the 2015 Best of Staffing Award for service excellence. With satisfaction ratings more than three times higher than the industry average, the Best of Staffing winners truly stand out for exceeding expectations. This award identifies the staffing industry's elite leaders in service quality.