Why I Created the Business School Selector

As an MBA admissions consultant, I have worked with a number of clients over the past 5 years.  Invariably, the most common question I receive is "What are my chances of getting in?" Answering this question qualitatively requires years of admissions consulting experience with dozens and dozens of clients.  Doing the question justice and providing the client with meaning insight requires several hours of examination.  Even then, as the applicant matures and the application process begins, the applicant's "chances" can change remarkably.

However, there has to be some way of getting into the analytics of how MBA admissions committees view their applicant pool.  I mean, Wharton is not going to take an applicant with a 480 GMAT, there is just no way.  There has to be a range, cut-offs and some way to statistically examine applicant pools.

I searched high and low on the WWW for such a tool.  I could find none in the GMAT/MBA space.  What I found were mostly models that analyzed a few criteria from an applicant's POV.   That is, these models looked at things like:

1. In what type of setting should the school reside?  Urban, Suburban, Rural?
2. What time of female or international representation should be present?
3. What climate should the school reside in?

While these factors are important in the decision-making process, they do not necessarily view things from the admissions committee perspective.

With this in mind, I when out and created a model that analyzes an applicant's prospects of entering the top 25 U.S. business school programs from an admissions committee view.  I developed this tool for Veritas Prep as part of my MBA admissions consulting responsibilities.

The explanation from the Veritas Prep website does a great job of explaining what function the tool serves:

"This tool was created to generate an optimal range of business schools for you. By "optimal," we mean that these are the highest-ranked schools to which you have a reasonable chance of getting accepted. While no model is perfect, especially in beta, you can use the range of schools at the bottom of this page as a way to start narrowing your choice of MBA programs."

"Please don’t take the model too seriously. Since it only utilizes a subset of data, it cannot be considered a comprehensive tool for all situations and applicant profiles. The admissions process is highly subjective, and no one model can serve as an "oracle" or "magic eight ball.""

Click here to access the Veritas Prep Business School Selector.

How to Dress Properly for a Business School Interview.

As an MBA admissions consultant I often have to take a step back with my clients.  Over the years I have learned a lot from my clients and have come to realize that the definitions of proper interview dress or attire varies by region, country and even culture.

This is the deal, and I dissuade anyone from thinking anything to the contrary:

1. Wear a dark colored suit (Grey, Black, Charcoal) with a white or light blue shirt.
2. Wear a tie that has as little design or pattern in it at possible.  Solid colored ties are good.
3. Wear shoes that are polished with dark socks.  By shoes I mean dress shoes with dark laces, not “comfort” shoes, timberlands or Uggs.  By dark I mean dark blue or black.
4. Do not wear anything that is tight-fitting or shows body parts excessively.  This is an interview not a club.
5. Cut the tags off your clothing.  Nothing says Men’s Wearhouse $199 special than tags still sewn onto the sleeve of a jacket.  Don’t laugh too much, I have seen this as an MBA admissions interviewer.  It tells me the applicant is clueless at worst or knows a good sale when he sees one at best.
6. Get a shave and a haircut……shower.

How many hours should I prepare for the GMAT?

I used to be a Kaplan tutor and instructor. Now I occasionally tutor students individually. It’s been my experience that if your aptitude is “average+” and you want to score above a 700 you need about 30 hours of instruction and then about another 50-70 hours of studying on your own. This seems like a lot but to some of my students it has been a slam dunk way of scoring 700+ by studying close to 100+ hours.

Data from GMAT, the creators of the GMAT, bolster this positioning.  700+ scoring students study 114 hours according to GMAC themselves.

I would definitely start studying 3 months out. This means taking a class course or tutoring if you have the money. After the class is done I would recommend taking one practice CD test a week (Sunday Afternoons).

During the week, stay after work for 75 additional mins and take a verbal section or a math section on CD.

The class course should teach you how to approach each problem. The tests and CDs should teach you timing.

Getting into B-School: Know the Adcom

Another good resource for the b-school applicant, is to utilize is the businessweek.com b-school forum. You have to pay for full access, but a big-timing prospective MBA (like yourself) should have no problems fronting the cash. I especially think its beneficial to read the Admissions Q&A with the Admissions Directors from the schools you are applying to. For instance, this is the one for Linda Baldwin,UCLA’s Adcom big cheese: Businessweek Interview.

For me, it’s important to understand what these people are saying so you can get a good idea of the environment they are trying to promote at their business school. If you understand your Adcom’s psychology, then you can tailor your message (during the interview or essays) to say (for lack of a better term) what they “want to hear”.

Also, some people will say “Josie, don’t write what you think the Adcom wants to hear, write from the heart,write something gutsy….” Anyone who says that should have their head examined. You want to write something that they want to hear, not something they don’t. If you don’t, you’re gonna be riding the short bus over to CUNY. Human nature says we like hearing stuff we agree with, not necessarily thought provoking.

Also, it wouldn’t hurt to Google the name of the Adcom head as well as the person who is going to be interviewing you. You might be able to find out what they like and then that becomes your new hobby….or at least a possible talking point.

What I think about the Business School Rankings

Business school rankings are an attempt by different publications to apply a methodology to the various aspects of an MBA program. This methodology then allows for a fair (subjective) comparison between all the affected b-schools. Different publications place different weights on the varying aspects of each b-school program. Often these weights change from year to year within the same publication. With the same publication, this leads to the inability to accurately compare schools from year to year. Across numerous publications, this just leads to confusion. For instance, some publications will rank Harvard “number one”, while others won’t even have it in the “top ten”. Is it possible for a b-school to change so much in one year? Not likely. As stated above, it’s most likely the publication.

So who can you rely upon? The two most consistent b-school rankings have come from “US News and World Report” and from Business Week. Business Week issues their ranking every other year, while US News issues them every year. Every other year is probably a good policy as b-schools, containing a certain amount of institutional memory, really don’t change too much from year to year. The top ten schools have very little turnover in these two polls. You can argue with their methodology but at least you know what you are going to get. These two heavy-hitters are the ones that everyone refers to and the only ones that that the business world really seems to care about with respect to bragging rights.

Other publications offer their own shot at rankings the b-schools with mixed results. Forbes gives theirs, the WSJ, the Economist and the Financial Times all have their own. These should be considered the second tier of b-schools rankings. Although these publications’ rankings may be totally legitimate with respect to methodology, they are not paid as much attention to as US News and Business Week because they are not as consistent. When these publications drop a Harvard or University of Chicago from their “top ten”, the methodologies that produced these incredulous results tend to lose, well, credibility. Question any ranking publication that has a school in the top ten one year and then in the 20s the next year. No school changes that much.

All this being, why should you even pay attention to the rankings? Why should it affect your decision to go to b-school? Simply put, perception is reality. Think about it, when you go to get that big banking or consulting job out of b-school, the big banks or consulting firms want the prestige that is associated with the top schools. They want that prestige and they are willing to pay for it. This is why recruiters also love candidate from the top 15 schools in the world. These top schools produce, maybe not the best candidates, but the most prestigious candidates. Usually, the top school’s produce the best and the most prestigious candidates. These students get paid the top dollar and their employer now has bragging rights.

Thus, the bottom line is that, love them or hate them, rankings do matter.

What do I consider to be the critical b-school admission factors?

I taught the GMAT for about 3 years. In that time, I had the pleasure of teaching over 250 students. Along the way, I also had the privilege of helping a select few craft their admissions packages. Based on my experience and in order of importance, I present the following 8 factors I consider critical to getting into a top b-school:

1. GMAT Score
2. Application Essays
3. Work Experience
4. GPA
5. Extracurricular Activities
6. Recommendations
7. Interviews
8. Applicant Submission Round