Journey to my MBA

Wednesday, April 29, 2009

GMAC Quant 12th Edition released

posted by Dave | 12:51 AM

Tuesday, April 28, 2009

UCLA Anderson now asking for audio MBA Apps for essays

posted by Dave | 10:24 AM

Monday, April 27, 2009

US News & World Report release 2009 Business School Overall and Categorical rankings

posted by Dave | 8:57 AM

Wednesday, April 22, 2009

Economist MBA News - GMAT Changing

posted by Dave | 10:22 AM

GMAC News for April 2009

Across the United States, more than 1,500 MBA students, faculty, and supporters will participate in dozens of community service projects this month as part of TeamMBA Month.

> Read press release

> Go to TeamMBA Web site

European Business Schools Attract More GMAT Score Reports

The number of GMAT score reports sent by students from around the world to business schools in Europe is on the rise, according to GMAC's new European Geographic Trend Report. Schools in Europe are also attracting an expanding share of score reports sent by European citizens who take the GMAT.

> Listen to podcast (2:35):

> Download report (451 KB PDF)

India and China Lead the Way

As GMAT Volume Surges in Asia

Led by India and China, Asia accounts for a fast-growing share of GMAT testing activity around the world, according to the newly released GMAC Asian Geographic Trend Report. The region also is generating--and receiving--an increasing number of score reports from people who take the exam.

> Listen to podcast (3:00):

> Download report (716 KB PDF)

> More News

Websites Play Key Role When Prospective

MBAs Select Schools

> Read article in Graduate Management News

> Download report (355 KB PDF)

New Loan Program Helps International Students

> Read press release

posted by Dave | 10:06 AM

Article from WSJ: With Jobs Tight, M.B.A.s Head for Home

After working in public accounting for three years, Joe Fusco, wanted to become an investment banker. So he invested more than $70,000 and two years into an M.B.A.

But as he prepares to graduate from the University of Notre Dame in Indiana next month, Mr. Fusco, 27 years old, hasn't had any luck landing a position in finance. The only solution he has is to go back to his accounting roots. "It's a tough pill to swallow, but I've come to the conclusion that I can't sit and wait and cross my fingers," he says.

The majority of students at top business schools attend the programs as a way to boost their skills to change careers. This year, making that happen has turned into a nearly impossible task. And that means a significant number of soon-to-be grads who entered school back in 2007 are being forced back to their pre-M.B.A. careers in the hopes of finding a job.

"Career switchers are getting hit the hardest," says Kristen Lynas, associate director of career management at Georgetown University's McDonough School of Business. Those looking to switch fields make up the majority of each incoming class at the school, she adds. "When the market is hot, employers are more willing to take the risk ... [now] employers tend to go with the safe choice."

Sean Kelly

Steve Canale, manager of recruiting and staffing services at General Electric Co., in Fairfield, Conn., says that with so many applicants, previous experience is getting a bigger emphasis when the company weeds out candidates. "That's the sweet spot -- people who have industry expertise in the industries that we're strong in," says Mr. Canale, who hires about 120 M.B.A. students each year for a sales and marketing program.

In past years, GE would have been more open to M.B.A.s who were less of a match. But applications for the program grew 30% this year and Mr. Canale was able to be more experience-selective, he says.

With firms like Lehman Brothers and Bear Stearns -- which used to bring on upward of 800 M.B.A.s combined every year -- now defunct, and fewer finance jobs around, more business-school graduates are leaning on their experience to get them in the door. For example, the University of Chicago's Booth School of Business has typically placed 50% of its M.B.A. alumni in finance, most at large investment banks. This year, students in all majors have been turning back to their previous fields to find work, says Char Bennington, Chicago's senior associate director of career management. Ms. Bennington says other industries, like consulting and marketing, are also hiring fewer people and looking for experience.

After Johnson & Johnson didn't extend an offer to Jareer Oweimrin, a second-year M.B.A. at the University of Illinois Urbana-Champaign who worked as a strategic marketing intern with the company, Mr. Oweimrin is putting his plans to get a health-care marketing role on hold for the time being. He is now trying to capitalize on his background in pharmaceutical sales and is in talks about returning to a sales job at a former employer, a major drug maker. He hopes such a move will eventually help him move into marketing. "The motto here [at school] is 'take what you've got,'" says Mr. Oweimrin, who spent about $70,000 on his degree. "You can't be as picky as you want to be."

Even consulting firms -- known for hiring career switchers -- are looking for M.B.A.s with previous experience to hire.

Brianne Shally, 29, who graduates from Northwestern University's Kellogg School of Management this spring, says she feels safer going back to a consulting job in Chicago for Deloitte Touche Tohmatsu, her previous employer, rather than make a career change. "I have a proven track record, if it comes down to names on a board" for a layoff or hiring, says Ms. Shally. She says consulting jobs haven't been easy to land for fellow classmates, though. This year, she says, firms "were not willing to take a risk on students who did not have previous consulting experience."

Patricia Phillips, executive director of career management at University of Rochester's Simon Graduate School of Business, says students are beginning to recognize that these days, it could take two or three career moves to make a switch.

That's how Abhishek Sunkersett is approaching his first post-M.B.A. job. Instead of landing a job in strategy consulting or finance, Mr. Sunkersett, 28, a second-year student at the University of Texas-Austin McCombs School of Business, says his engineering background and technical experience working in the Mumbai office of Deloitte helped land him a position at the Chicago office of Infosys Technologies Ltd., an Indian information-technology services vendor. For now, Mr. Sunkersett says he'll focus on consulting projects involving technology, with hopes of pursuing more strategy-related projects in the firm. "My experience was a big advantage," says Mr. Sunkersett.

But the idea of returning to an old career has some soon-to-be grads questioning the value of their degrees. A traditional post-M.B.A. position increases a degree-holder's salary by 74% according to an annual survey from the Graduate Management Admissions Council.

Besides being unable to use his newly honed marketing skills, Mr. Oweimrin, says he is worried that he'll be earning the same as he did as a pharmaceutical rep -- about $60,000 -- instead of the $100,000 marketing job he expected to land after the M.B.A. program.

And Mr. Fusco says he is less certain his investment in the degree was worthwhile. Many of the auditing positions that he is finding don't require a graduate business degree. "These are positions that I was pretty qualified for even pre-M.B.A," he says.

Write to Alina Dizik at alina.dizik@dowjones.com

posted by Dave | 9:35 AM

Kellogg looks at expansion in India

posted by Dave | 9:29 AM

Article from NYTimes: Business Grads Look Beyond Wall Street

posted by Dave | 1:12 AM

Monday, December 15, 2008

New HBS TV Show

posted by Dave | 3:46 PM

Sunday, November 16, 2008

MGM Mirage CEO Faked His MBA

Yesterday MGM Mirage's CEO of 13 years, Terrence Lanni came under fire after a Wall Street Journal investigation discovered that he never earned an MBA from the University of Southern California and abruptly "retired." Oops.

This is not what you want to find out about the man who is steering the world's largest casino-gaming company through a particularly rough patch in history. Especially as the hotel is on the brink of opening the extravagant MGM CityCenter.
According to USC, he completed some classes toward the MBA

According to USC, he completed some classes toward the MBA between 1965 and 1967 but never graduated. Lanni said he received an Honorary MBA in 1992, while USC says they have not awarded an honorary MBAs since 1933. Not only that, but Lanni's biographies prior to 1992 have all mentioned him holding an MBA.

The official word from MGM Mirage is that Lanni is retiring so he can be closer to his family who lives in California. There's also a thinly veiled reference to Lanni wanting to enjoy time with his family while he still can. The man is only 65 and has no illnesses to speak of. Anyways, questions about his MBA had "no bearing whatsoever" on his retirement. Riiiiight...

To help smooth the transition for the company, since it has some major issues to overcome like the economic downturn and completion of City Center, MGM is going to appoint Jim Murren, its current Chief Operating Officer effective November 30th.

Source

posted by Dave | 9:38 AM

Friday, November 14, 2008

Kellogg offers a view of some recorded classes online

posted by Dave | 11:52 AM

Financial Difficulties for MBA students as described in The Harbus

posted by Dave | 10:29 AM

John Hopkins expanding Carey Business School Part-Time to Full-Time

posted by Dave | 10:28 AM

Time Magazine describes the road ahead for MBA's as bitter.

posted by Dave | 10:26 AM

BusinessWeek releases long awaited 2008 B-School Rankings

BusinessWeek releases their B-School ranking every two years. Usually released in October, this slightly delayed release has included some great articles that review the state of MBA applications and how recent MBA grads are having a crazy time in their pursuit of financial careers. See the rank.

Or perhaps you're interested in the International B-school 2008 rankings.

The lead article for the rankings titled, "Crisis Hits the Business Schools", is a dark description of just how bad the job situation is in the finance sector for MBA grads. For example, B-Schools job postings are down by as much as 10%. With MBA Applications drastrically spiking this year and the recruiting side dropping, the MBA appears to be a difficult sweet and sour dish to be eating right now.

This must have been a very difficult topic to report on. Listen to the behind the scenes audio podcast to find out just how difficult.

MIT's Business School Dean also chimes in on the MBA outlook. Check it out.

Comment on the rankings: It's important to remember that the focus of the BusinessWeek rankings was to survey students and corporate recruiters and measures intellectual capital.

There are a few eye openers in the rankings. The following schools made it into the 1st Tier rankings: Southern Methodist (Cox), Brigham Young (Marriott), U. of Washington (Foster) and Georgia Tech.

On the other hand, Georgetown (McDonough), Michigan State (Broad), Purdue (Krannert) and Rochester (Simon) fell down into the pool of 2nd Tiers losing all sense of overall ranking.

Labels: Businessweek, MBA rankings

posted by Dave | 9:36 AM

Tuesday, November 11, 2008

Chicago GSB to change Name after 300 Million gift

The University of Chicago's business school will get a $300 million boost to its endowment -- and a new name -- from David Booth, an investor who has tried to avoid the limelight until now.

University of Chicago

Professor Eugene Fama (left) with donor David G. Booth (right) at the donation ceremony.

The gift, among the largest donations ever to a U.S. university, comes as endowments have been hit hard by the financial meltdown, and many potential donors are tightening purse strings. The 61-year-old Mr. Booth, chief executive of the Dimensional Fund Advisors mutual fund, said Thursday that he will donate $300 million of his firm's stock to the business school, from which he graduated in 1971.

The Chicago school will change its name to the University of Chicago Booth School of Business and use the funds to hire and retain professors, and to expand its publications, said Edward Snyder, the school's dean.

The gift represents a coming-out for Mr. Booth, who is largely unknown outside the rarefied world of academic research and in finance. In the 27 years since founding Dimensional, Mr. Booth has played a behind-the-scenes role, while his now-retired partner, Rex Sinquefield, was the public face of the company.

View full article

posted by Dave | 2:11 AM

How our U.S. Financial Crisis is affecting MBA's

When Adrian Chan enrolled in an M.B.A. program at Hong Kong University of Science and Technology last year, he hoped to use the degree to jump industries, from information technology to investment banking.

Mr. Chan, who majored in finance in his M.B.A., pictured himself structuring derivatives or selling equities at a top-tier bank in his hometown of Hong Kong -- and earning a lot more than he did as a software developer in his past jobs at Amazon.com Inc., in Seattle, and Oanda Corp., in Toronto. Mr. Chan, who'll graduate in December into the worst financial-sector meltdown in recent history, is now perusing IT job ads.

"It's a much more competitive job market," he says. "The employers who are hiring want people with experience, and there's lots of experienced people who've lost their jobs and looking for work. For those of us switching careers, it's going to be much harder."

View Full Article.

posted by Dave | 2:05 AM

Monday, November 10, 2008

Wall Street Journal releases their 1st ever EMBA Rankings

posted by Dave | 7:51 PM

Wednesday, November 05, 2008

Why Obama being President matters.

posted by Dave | 5:38 PM

Interview Lessons and 1st Impression Lessons

Labels: Interview Tips.

posted by Dave | 11:16 AM

Saturday, November 01, 2008

GMAC reacting to US based GMAT cheaters but can't go beyond that.

Labels: Cheating, GMAC, GMAT

posted by Dave | 9:14 PM

Economist Oct 08 News about B-Schools

posted by Dave | 12:24 AM