Part 8 (1/2)
The right time to apply is when you feel the education and developmental experiences that come from an M.B.A. program will benefit you the most. Most M.B.A. programs recommend several years of work experience-with a usual minimum of two years-before applying, but today's average age of about 28 is just that, an average. Those several years provide a background of experiences and observations such that you will more fully appreciate what you learn in the M.B.A. program. You'll also be able to contribute to the learning of your cla.s.smates when you share your experiences in cla.s.s discussions; likewise, you'll learn from their experiences. Your professional accomplishments during those years also provide admissions committees with a demonstrated record of achievement. As business is very much about producing results, admissions committees screen candidates rigorously for their proven ability to have an impact on the organizations they work for. Expectations for the length of work experience for part-time applicants are somewhat less demanding than those for full-time programs, as candidates will continue to gain experience while they are going to school.
As mentioned earlier, individuals have very different goals when it comes to furthering their decisions about education. The objective is to ensure that your goals are aligned with the M.B.A. program you choose to apply to and attend. Will the M.B.A. program you're considering help you reach your career objectives? Several years after graduation, your performance on the job is the most important factor in career success. These are some of the questions to ask yourself as you're determining whether you should apply to full-time or part-time programs: * What is the profile of the students who are in the program? Will I feel comfortable there? Will I feel challenged there? How important is the diversity of cla.s.smates' background to my learning goals?* What is the regional reputation of the school? The national reputation? The international reputation? If your life goals are to live in the same region as the school, you may not value the international reputation as much. If, however, you want to have maximum career flexibility and mobility, national and international reputation is important.* What is the reputation of the faculty in the program? Are they available to students in office hours?* What career services does the school provide? What are the placement statistics of the school, both in salaries garnered by their students and in the companies their students join?* Am I ready for an M.B.A. program? What do I want to do after I get an M.B.A.?* What are the strengths of the school's curriculum? How flexible is the curriculum in terms of course choices?* What is my employer's policies regarding tuition reimburs.e.m.e.nt for the M.B.A. program?
Most admissions committees use the entire application to get a sense of a candidate, so you can't really say if any one element is more important than another. At Michigan, we believe we are about identifying leaders.h.i.+p talent, and leaders.h.i.+p comes in many forms. So we look at all aspects of an applicant's experiences and accomplishments as we review an application.
The most important thing to remember is this: What you are trying to do in the application is convey-coherently and concisely-a sense of who you are, where you've come from, where you hope to go, how you think an M.B.A. will get you there, and why you think there is a particularly good match between for you and the M.B.A. program to which you are applying.
We require four essays in our M.B.A. application; applicants have the option to answer more than four if they think the information presented will enhance their package. The best advice regarding the essays is to spend some time to do some introspection on possible ways to answer the essay question. When you've written your first draft, ask yourself a few questions. Does this essay answer the question? Is it written in a clear and concise manner? Does it convey important information about my goals, accomplishments, ability to lead others, and personality that will help the admissions committee know me better? Where appropriate, do I back up my statements with good examples?
Do: * Apply to schools that you're really interested in and that you feel are a fit for you.* Apply to a range of schools that fit your needs so that you have several options to consider; some students only apply to one or two schools and that can be a limiting strategy, given the compet.i.tiveness of the application process.* Apply in the earlier decision rounds.* Visit the school and talk to as many current students and alumni as you can.* Think deeply about where you are in your career right now, where you want to take your career and how the M.B.A. can help you achieve that transition.
The value of the M.B.A., as demonstrated through placement statistics, has risen. The use of technology has also increased in M.B.A. programs. The Executive M.B.A. has grown in popularity recently and generally attracts an older M.B.A. student with more experience and corporate sponsors.h.i.+p.
University of Michigan Business School does offer a Global M.B.A. to executives in selected companies in selected countries. The Global M.B.A. is an online M.B.A. program that uses technology extensively. In our regular M.B.A. programs, technology is used in a variety of ways to enhance the educational experience, such as: * Web-enabled cla.s.ses, which allow more flexibility in the scheduling of cla.s.ses* Websites for individual courses, in which professors can post cla.s.s notes and students can review problem sets* M-Track, the Business School's Intranet site, in which students can view job postings, network with alumni, and bid on interviews* E-lab, which serves as a research and teaching center on e-commerce and provides an incubator for developing e-business products and services Broadly speaking, the Internet has revolutionized the M.B.A. degree because it has revolutionized business. Therefore, every M.B.A. course must consider how the use of technology has changed the fields of accounting, marketing, strategy, operations, business law, and so on.
Glenn Berman, Director of Admissions, Rutgers University Graduate
School of Management From my perspective, the value of the part-time M.B.A. has not changed dramatically. While changes in format, schedule, and mode of delivery may be required in order to meet the mobility and increasing time constraints of members of this segment, the demand for this degree remains strong. For many candidates, the full-time option is not viable, as family, personal, and professional responsibilities do not permit full-time attendance. As most part-time candidates are already employed, an M.B.A. adds value to their professional resume and increases their value to their current or future employers.
For part-time candidates, the ”right time” to go for an M.B.A. has many interpretations. At Rutgers, our typical part-time applicant is in his or her early to mid-20s and has had at least two years of full-time work experience. However, many part-time M.B.A. students begin their programs right out of college at schools that do not require prior work. In this instance, the ”right time” is best defined as when the candidate finds a school and program which offers a curriculum and schedule that works and when he or she believes an M.B.A. program can be pursued successfully along with employment and other responsibilities.
In addition to wanting a program of quality with an excellent, experienced, and professional faculty (characteristics sought by most M.B.A. candidates), part-time candidates are generally most concerned with availability of programs they want to study, along with convenience and flexibility in cla.s.s schedules. If the current employer offers tuition a.s.sistance of some kind, recognition and approval by the firm (usually the Human Resources Department) of the quality of the program in question is also important.
At the Rutgers University Graduate School of Management, we review and consider the entire application submitted by the candidate. This includes academic success (completion of a four-year bachelor's or equivalent, GPA, GMAT), work experience (resume), essay, and letters of recommendation. Each element has an effect upon the outcome, and a strength in one area can often serve to provide balance for one in which the applicant was not as strong.
Here's some general advice to those considering a part-time M.B.A.: * Apply as early as possible. Don't wait until the deadline to send in the application.* Be realistic in your choice of inst.i.tutions. Apply to schools within your academic reach. Research each inst.i.tution in which you have interest. Review the profile of the previous years' entering cla.s.ses (average GPA, GMAT, years of work, etc.).* Compare programs and choose those which will best prepare you for your intended career or help you grow within your current company or industry.
Currently, we do not normally require interviews for applicants to our M.B.A. program. Occasionally, a particular program or scholars.h.i.+p opportunity may mandate an interview, or we may ask a candidate in to provide additional information about his or her application. The key to successful interviewing is preparation. Know everything you can about the inst.i.tution, the graduate school, and the program. Be prepared to answer questions about why you want to attend and, if offered admission, what strengths and qualities you would bring to the program. Finally-although this should be obvious-dress professionally and be prompt. Treat the admissions interview as you would a job interview.
Although Rutgers does not currently offer any distance-learning M.B.A. cla.s.ses, it may do so in the future. I believe that offering some courses online can be very beneficial, especially in the case of a part-time working student.
CHAPTER 16.
What the Students Say It's all well and good to be informed from the professionals at business schools, but the picture would not be complete without hearing from the students as well. What is the climate really really like? What have they appreciated most about their experiences at school? Will they miss it? Has is proven useful yet? When reading the essays submitted below, consider that the author may one day be sitting next to you in a cla.s.sroom or in your living room reviewing a cla.s.s project. like? What have they appreciated most about their experiences at school? Will they miss it? Has is proven useful yet? When reading the essays submitted below, consider that the author may one day be sitting next to you in a cla.s.sroom or in your living room reviewing a cla.s.s project.
With that said, here's what current students and recent alumni have to say: Carmen Saleh, M.B.A., The University of Michigan Business School As I recently sat through the commencement exercises at the University of Michigan, I reflected on my M.B.A. experience as a part-time student. Two years earlier, I had enrolled in the program while working as an internal change management consultant for a large marketing services company. I negotiated a flexible schedule with my employer that allowed me to scale back my hours to roughly 30 a week so that I could increase my academic load and finish faster. Although this flexibility had financial repercussions (i.e., no tuition reimburs.e.m.e.nt, a smaller salary), it did afford me the opportunity to finish in two years, take elective courses during the day, and increase my involvement in club and leaders.h.i.+p activities. Although my strategy may not work for all students, it was perfect for me. I was able to progress in my career and apply the skills I learned to my job all while finis.h.i.+ng in two years and enjoying the program every step of the way.
Many part-time students view obtaining a graduate degree as a means to an end: They plan on remaining with their current employer, so they grudgingly go to cla.s.s with only one goal in mind-to get the degree. I did not want my M.B.A. experience to be like this. One of the reasons I chose the University of Michigan's program is because of the opportunities it offers from both a social and networking perspective. I quickly became involved in the Consulting Club and the student government, for which I held leaders.h.i.+p positions in both. As the president of the student government for part-time students, I implemented numerous programs that improved communication among students and facilitated a new student's transition into the program. For instance, I created an Amba.s.sador Program in which current and recent graduates of the part-time program offer advice and guidance to new or prospective students. They, therefore, serve as amba.s.sadors of the school and the program. As a vice president in the Consulting Club, I worked to improve the relations.h.i.+p that consulting firms have with part-time students. Now, more consulting firms are marketing recruiting and educational events specifically to part-time students. Outside of club activities, I also attended many guest speaker events and conferences. These events at the University of Michigan, which draw influential business people from around the world, were truly top-notch and definitely impacted the quality of my education. These are the types of out-of-cla.s.sroom events that all M.B.A. recruiting brochures preach about but that Michigan truly delivers on.
A big reason why many students return to school is for the opportunity to make a career or job transition. Having recently gone through recruiting season, I was thoroughly impressed with the quant.i.ty and quality of the companies recruiting on campus. Before entering the program, I knew that obtaining an M.B.A. degree would open doors for me, but I never imagined the full extent of that opportunity until I was bombarded with invitations from firms from around the country. Many part-time students worry that companies will not be interested in them since they pursued their degree while working, but this is not the case! Those I spoke to were impressed that I worked and went to school concurrently. Part-time students have sacrificed a lot to obtain their degree, and companies recognize and reward that.
Obtaining a graduate degree on a part-time basis has its challenges. At times, you will feel like you are being pulled in a million directions. It is up to you though to balance the demands of work, school, family, and community. Although this may be difficult at times (i.e., recruiting season), it can be done with good prioritization and time management skills. Don't get me wrong: There will be occasions when you need to take a day off of work to study for an exam or give up those Red Wing tickets to meet for a group a.s.signment, but in the end, it will be well worth it. If you do decide to pursue an M.B.A. degree, my advice to you is to make the most of your school's program. Get involved, network with everyone you meet, and last but not least, have some fun!
Ivy Epstein, M.B.A. Candidate, The Langone Program: A Part-Time
M.B.A. for Working Professionals (New York University's Stern School of Business) When I decided to apply to Stern, I was ready to take on the commitment of an M.B.A. program, but I didn't want to be a full-time student again. I wanted to continue to pursue my career so I would have the ability to apply the new knowledge and skills I gained in the cla.s.sroom to my job on an everyday basis.
Not only did I know that I only wanted to go to business school part-time, but the only school I applied to was NYU's Stern School of Business. The part-time program is formally called The Langone Program: A Part-Time M.B.A. for Working Professionals. I'm very proud to be a student at Stern, the part-time business school consistently ranked number one in the nation. At Stern, I'm not only getting an excellent education, but I've also become part of a community and am developing long-term relations.h.i.+ps with the people in my cla.s.ses and study groups. There is a tremendous sense of support; everyone here is dedicated to learning more and helping each other succeed in learning together, which enhances the experience.
Since starting the program, I have gained a greater sense of confidence, and I feel that my employer views me in a new way because I am pursuing this degree. But to use a metaphor, to me, the overall M.B.A. experience is like cake: The academic challenges, the community and network of people and the opportunity for leaders.h.i.+p are the core of the experience; what comes after my time at Stern, my future career potential, is just the icing. I'm here for the M.B.A. experience.
I think back to my first day, sitting in Schimmel Auditorium with all of my soon-to-be cla.s.smates, thinking, ”Who am I going to be here? How will this experience change my life?” That day, the possibilities seemed endless, which was so exciting.
In addition to the high academic quality of the program, I think one of the aspects I value most is its flexibility. The program is really geared towards working professionals. Cla.s.ses are not only held in the evenings and on weekends, but mini-intensive courses can be taken during school breaks. Also, services for students are available when we're on campus during the later hours, and online communication makes everything possible. Although I haven't taken a course that formally incorporates distance learning, alternative course delivery systems are being used to enhance the experience and make the program even more accessible to students who work. For me, email and the web are critical for the teamwork and projects required by the program.
After completing three semesters, I can say that I wish someone had given me some guidance to help me better prepare for business school. Having learned some of the things the hard way, I'd like to offer some advice.
* First, start eating well as soon as possible. You'll need the energy.* Practice working in groups and learn to enjoy it. It becomes a way of life, and it truly brings value to the learning and working experience.* Prioritize, prioritize, prioritize . . . down to the minute.* Take advantage of your M.B.A. experience. Get involved in your community because it can truly be rewarding.* And remember, you're a student now-again. Flash that ID and take advantage of the discounts!
If you're looking for a tremendous experience to grow both intellectually and personally and are ready for the commitment that this type of experience will require, an M.B.A. may be right for you. I'm happy to say that I know it's right for me.
Maureen Oates, M.B.A. Candidate, Boston University Since I started my M.B.A., I've taken on a new role as manager of training and development. I'm working on a leaders.h.i.+p development program using a lot of the content from my courses. Last summer I had the opportunity to guide our executive team through Michael Porter's ”What is Strategy?” article that was drilled into my head in my first cla.s.s. (Michael E. Porter is the C. Roland Christensen Professor of Business Administration at the Harvard Business School and the premier authority on strategy and compet.i.tion. His article ”What is Strategy?” appeared in the 1996 Harvard Business Review Harvard Business Review and is essentially required reading for all M.B.A. students.) This year I'm helping to facilitate the long-term strategy-planning process. I've had a lot of opportunities to do new things at work and expose people to new ideas. and is essentially required reading for all M.B.A. students.) This year I'm helping to facilitate the long-term strategy-planning process. I've had a lot of opportunities to do new things at work and expose people to new ideas.
I am also incredibly organized now. I try to be ruthlessly efficient. Today, everything-exams, papers, team meetings, dates with my husband-goes into my Palm Pilot so I know exactly what my responsibilities are at work, school, and home.
The most significant change in my life, however, is that I think differently now. There isn't a day that goes by that I don't wonder how we can alleviate the bottleneck in the process (and sometimes find out it's me!), service our internal and external customers more effectively, position ourselves more successfully in the marketplace, or create a richer culture and environment for employees. I dream of Porter's 5 forces models, find myself referring to customer intimacy and the 7S model on a regular basis, and can even bear financials . . . very scary.
As far as the marketability of the M.B.A., I don't think a degree by itself gets you anything, whether it's full-time or part-time. It's what you do with it-how you carry yourself, present yourself, think and a.n.a.lyze things-that makes a difference. Knowledge in a vacuum or in your head is not much, but knowledge applied to a situation to create an impact is what matters.
My first day of school was pretty amusing. I had my book, parking pa.s.s, course packet, and so on, but I didn't bring anything to write in-no paper, no pen, nothing. The thought didn't even cross my mind. I had to quickly run to the bookstore to scrounge up a notebook and was sweating by the time I made it to cla.s.s.
The M.B.A. program has definitely met my expectations. I wanted to gain a broad understanding of business principles, and I have. The funny thing I found out is that I already knew many of them-maybe not in depth, but I knew what they were. My company is great about exposing its employees to marketing and financials, making sure we all understand topics like our revenue recognition model. It gave me a leg-up walking into the program.
I also have an incredible network today. I can pick up the phone and call any one of my professors and get connected to leaders in particular industries. I feel very fortunate to have those links.
My advice to prospective students is get your support group on board. My boss was all for it, my friends and coworkers were thrilled, and my husband was, and still is, incredibly supportive. (In fact, he now edits most of my papers.) It's tough, though. It's not a piece of cake, and it takes a lot of initiative and drive to get the most out of the program and try to balance your life. It took me until my second semester to really get in the groove and learn what I needed to know to be successful, and now I'm cruising. In fact, this spring, I ran the Boston Marathon on top of everything else.
I'm plowing straight through my courses so I'll be finished in less than three years, but I'm doing that for a reason. As I like to say, ”I don't want to get a glimpse of the 'good life,' or I may never go back to school.” I've had to miss a bunch of nights out with my friends, and I've studied right through date night with my husband. But when you finish a case, a paper, an exam, or a presentation, and you really know the content inside and out, you feel great. You feel even better when you use your learning at work the next day, week, or month. This is what you need to remember.
Although I don't have any kids, I'm told that getting an M.B.A. can be compared to childbirth. There's a buildup, although you're never quite prepared. The pain is temporary, but very real, and once it's done you have this lasting imprint. Some day I guess I'll find out if that's the truth, but not before I get finished with school!
Michael R. Slade, M.B.A., Dolan School of Business (Fairfield University) The first issue the part-time M.B.A. candidate needs to address is at the office. Obviously, one's supervisor must be made aware of the time demands placed on a graduate student, but he or she also needs to understand the level of course work support required, in the form of survey requests, student visitations, and company financial and product data. (Many of these support issues will not only improve the student's performance, but it will promote the company corporate image as well.) If a lack of support is found, I think it is time to leave the company. My advice, in that situation, would be to get out as soon as you can and find a M.B.A.-friendly employer.
I would also advise the part-time candidate to determine if the business school offers a tuition payment plan that will accept your company's reimburs.e.m.e.nt structure without requiring the student to provide the tuition upfront. This is an excellent opportunity to minimize finance charges on frequently used credit cards. Add up what is saved in finance charges over a couple years, and it can easily equal a well-deserved graduation vacation.
During my graduate school career, I do not remember hearing a fellow student state that he could not keep up with the part-time program and needed to switch to a full-time status. In fact, if a student would like to expedite the completion of the program, many schools offer accelerated semesters that include trimesters, intersession courses, and summer courses. Completing your master's program in two years is not unheard of-I personally completed each of my M.S. and M.B.A. degrees in approximately two years by always taking two courses per semester and luckily always having courses available during the summer sessions and intersession. One of my fellow cla.s.smates followed a very similar M.B.A. program of study and also completed his M.B.A. part-time in roughly two years. It's a rigorous but clearly obtainable goal. On average, I am sure most students take between three to four years to complete the program part-time. Regardless of the length of time, I have found that most M.B.A. graduates feel, in retrospect, that their time was extremely well utilized, and they typically feel like it went by so quickly.
Most graduate schools of business are clearly geared towards the part-time student. That is, most business schools structure their graduate course offerings based on evening and weekend cla.s.ses. In addition, many of the course registration and student information bulletins are posted online to keep the student informed about course availability, university events, and support resources. If the school has a staff that advocates the use of the Internet for communicating university activities, this is a tremendous benefit to the part-time student.
Fairfield University does a great job of keeping their students well informed. Almost on a weekly basis, Colleen from the School of Business would electronically mail course offerings, inquiries regarding student interest in special interest courses, conference offerings, and updates about the graduate student a.s.sociation. This frequent communication tends to keep the part-timer tuned in to campus activities and thus maintains a bond or relations.h.i.+p with the university.