Ask Jon Frank- P69-Q&A:WHY MBA? 7 OVERLOOKED REASONS TO GET AN MBA

JonFrank

THE INSIDER’S GUIDE TO IESE
Oh, hello there.

Good to have you back, joining us on our journey across the pond to look at the best of the best European MBA programs. We already took a gander at the ins and outs of INSEAD, and today we’re gonna turn our sites to Spain. So let’s dig into IESE, one of the top three Spanish business schools, and, according to the Financial Times, one of the top 10 schools in Europe.

The What

IESE offers a world-class program on two Campuses in Spain’s two largest and most business-friendly cities – Madrid (for the EMBA programs) and Barcelona.

Although IESE had a very diverse and mobile student body – much like most programs in Europe – in many ways the program is quite different from most European MBAs, and actually more closely resembles the typical US MBA programs.

First of all, the average age for IESE students is 28, which is considerably younger than most other European MBA programs that have an average age of 30+.
Secondly, unlike most other top European schools that offer 1-year programs, IESE’s MBA programs is 19 months.
IESE is also less industry oriented than many Euro MBAs, and far stronger in the two traditional industries of recruitment for MBA grads – Finance and Consulting, with about half the graduating class going into these two business mainstays. IESE is also the only place you can get a Harvard education outside of Harvard, as they use the Harvard case-study method as their study method of choice.

Notable for its Spanish location, IESE is one of the few schools in Europe that has excellent connections with Latin America, and in the last graduating class 12% of the class went on to find jobs in Latin America.

The Who

IESE’s grads are a mighty diverse bunch. They come, like in many European programs, from….well… EVERYWHERE. Case in point: more than 80% of the class of 280 students came from places OUTSIDE of Spain. And given its connection with Latin America, a far larger portion (between 10-15% in recent years) of the student body come from that part of the world.

That’s some serious diversity, folks.  

The How – Tips for Getting In

Besides the good old recipe for success of great GMAT + fantastic GPA at a great school + strong work experience, IESE is building a name for itself in the area of Entrepreneurship. So it is a particularly good destination for candidates who either come from or intend to go into entrepreneurship (family business counts too!).

Also, given that the school is an initiative of the Catholic Church’s Opus Dei, it should come as no surprise that IESE considers ethics to be a fundamental part of the business school studies and experience. So if you can work that into your overall profile in some way, that’s gonna help you show your fit with IESE in a very strong (and organic!) way.

IESE also likes students who are well-rounded, who have lives and interests that extend beyond their work experience. What instruments can you play? Were you ever a pro sports player? Are you impassioned for the art of Goya? Show a bit of general culture and diversity and it can go a long way.

Leadership, and especially international leadership is also highly regarded, although not a necessary prerequisite like it might be at schools like INSEAD, LBS, etc.

Bottom Line

Although it doesn’t yet have the same prestige, make no mistake: IESE is one of the best schools in Europe, playing in the same field as INSEAD and LBS. IESE grads are talking to the same recruiters, and making the same salaries as grads from those more well-known programs! And besides its general strength as an international MBA program, it is especially good for those who intend to work in Europe or South America after their studies, and who want to have that extra time to really make the most of business school.

JonFrank

ADVICE FOR FUTURE MBA APPLICANTS

B-Schools are dropping their deadlines and essays faster than Shia LaBeouf can get arrested, which means it’s ON for all you MBA applicants.

To help you out, we polled four of our consultants from the top schools (Stern, HBS, Haas, and CBS) and asked them one simple question:

If you could give one piece of advice to future MBA applicants, what would it be?

“I had the audacity to apply to b-school fresh out of undergrad when I was only 19. Stern deferred me for two years so that I could get that crucial work experience. My best advice goes out to younger applicants. Don’t be afraid to apply! If you can express your passion, problem-solving skills and maturity in your written work and interview, you have a great shot no matter your age. If you have had no direct reports in your career to date, then let the adcoms know how you managed upward or managed a client. There’s always a way to showcase the impact you have made.”
– Stefanie Barlow, Stern

“While your stats (read GMAT score and GPA) are certainly important, they are only part of the battle. In my opinion, the best MBA programs don’t just want a number… they want a sure thing…. and the best way to prove you’re a sure thing is to clearly articulate YOUR MBA story (why MBA, why now, what are your career goals, what have you done so far that proves you are uniquely qualified to achieve those career goals, and how will an MBA fill any gaps and propel you to that next level). The beauty of this part of the application is that it’s never too early to start… even if you know you want to apply 2 years from now, you can start thinking about this story TODAY.. and don’t be afraid to discuss with friends, family, or co-workers so that by the time actually putting pen to paper on the application comes around (and trust me, “career goals” WILL be one of the application questions), you’ll nearly be there!”
– Dominic Dragisich, HBS

“Do everything you can to research the schools you’re interested in. Talk to current students and alumni, visit if you can, and go to any events in your area. One of the biggest benefits of business school is the network and you want to make sure that you genuinely like and connect with the students at that school and with the school’s culture. Plus all that homework will pay off when you write your essays or are in an interview. Showing that you really made an effort to get to know the school will show them that you’re serious when you say it’s your dream school!”
– Julie Bowman, Haas

“My best advice to future MBA applicants would be to first make a decision on where they would like to live post MBA. If they want to live on the west coast, than they really need to focus on west coast schools. If they want to live in the Midwest, than they really need to focus on Midwestern schools, etc.. Most of the firms that will be recruiting from each MBA program will be locally based because the human resources department of most firms do not have the means or resources to send their people to schools across the nation to look for candidates, only local MBA programs.”

JonFrank

Can a good GMAT score cover up my weaknesses?

Question:

Will a high GMAT score be a good cover-up for some weaknesses in my profile?

Answer:

NOPE.

You know how a cat will hide under a chair, and it thinks it’s hidden from the humans in the room…but its tail is still sticking out and you’re like… “I can still see you, kitty”?

Mmmm yeah. That lack of work experience, those murky career goals, that lack of an undergraduate degree, etc…. that’s the cat. And no matter how good your GMAT is… well, “I can still see you, Kitty.”

And more importantly, so can the adcom.

The “cover-up” is not a good strategy. Adcoms are way too smart for that. [Come on - give 'em some credit, folks!] They read hundreds, if not THOUSANDS, of apps every year; they can see a good candidate from a mile away. And they can see someone who’s trying to hide something from even further. You’re not gonna be able to hide your weak spots from them.

A GMAT score doesn’t cover up anything. But if it’s good, it helps everything. Take a low college GPA, for example. A high GMAT score isn’t going to undo that GPA, but it WILL show the adcom that you’re smart and that what happened in college was a minor blip, and not indicative of what you’re capable of. After all, that was so long ago. But look at that GMAT score! That’s a much better sign of what’s to come from you.

So, yeah, the GMAT can definitely help. But all too often people make the mistake of thinking a GMAT score can carry them into a top program. That all they need is a 750 and it’s smooooth sailing into HBS.  But let me tell you, folks, there are plenty of people who score a 750+ on their GMAT…and get rejected from top programs.

While the GMAT is a good equalizer of applicants, it’s not the only thing that adcoms look at. And it’s the REST of your materials that are important: the essays (where you lay out your plans/goals/personal brand), your resume (where they see your experience), and your LORs (where your superiors highlight your achievements and why you’re going to go on and do AWESOME things).

So while the GMAT is indeed important, and it can absolutely HELP your applications, it’s not going to hide a lack of work experience, or weak career goals or irrelevant and poorly articulated LORs. And that’s the case even for the guy who manages to score an 800.

What can you do about those weaknesses, then? Well, instead of wasting your time trying to cover ‘em up, instead focus on highlighting your strengths, showcasing your awesome work experience, and all that leadership potential you’ve got.  And, if you have space in your app and it makes sense to do this, you can even ADDRESS your weaknesses. Show ‘em that you KNOW what’s up, you know what you need to improve, and tell ‘em how getting an MBA is gonna help you do that.

Hope that helps,

Jon Frank, Admissionado Founder

luciahuang

Hi John,

I have to say I got really impressed on how you insist on coming this forum since 2010,
And I am planning applying a US MBA program concentrating on supply chain, I would like to work for Apple, or Walmart..after my graduation. and my background is GPA around 2.9, which is quite low,
and I am trying to get a nice score in GMAT now.
And have working in procurement, sales and international trading for around 6years. in European companies mostly.

Do you have any nice suggestions about this type of schools, I am quite concern about the location for finding a job.
Appreciate your kind help.

Thanks in advance!
Lucia

JonFrank

How long should our answers be for normal interview questions?

ANSWER:

When it comes to everyone’s favorite, “Walk me through your interview,” you shouldn’t spend more than 4 minutes total. So practice that. You don’t want to spend the entire interview rehashing a resume he has probably already seen.

And for all the others… 2-3 minutes. MAX.

You don’t want to bore the guy. A good interview is a conversation. It’s relaxed. Informal. Feels less like a back and forth Q&A, and more like two people hanging out, talking. (Kind of like this!)

Much like your essays, the best stories/answers are concise. Use your words wisely and say the most stuff in the least amount of words. Make your interviewer laugh. That’s always a good sign. And ask questions. Get them talking about themselves. MBAs LOVE talking about themselves. Why just the other day I was talking to this MBA and the funniest thing happened to me…

luciahuang

So now stops answering questions?

JonFrank

What if English isn’t my native language?

The adcom understands that English is not everyone’s native language. So they’re not expecting perfection! But non-native speakers often freak themselves out, and get VERY nervous about their English before the interview… which throws them off balance. The best way to get over those nerves s to practice, practice, practice. You want to be comfortable in the interview, you want to engage the interviewer in conversation… and the more you practice your English, the more natural the conversation will be. Which is a GOOD thing.

But don’t MEMORIZE your answers, or else you’ll come off sounding like a robot. Which is a BAD thing. Instead, focus on talking in English, every single day, and telling your greatest hits. You’ll have to improvise depending on the questions you get asked, so you’ll want some flexibility in your stories. You want to get comfortable with the ideas and concepts behind your stories, as well as the English language in general (as much as you can!), NOT memorize a script.

JonFrank

luciahuang 发表于 2014-9-30 05:13
So now stops answering questions?

of course not. If you have any questions, you can write to me

JonFrank

How do you stand out in a group interview?

It’s NOT about standing out; it’s about how you contribute to the group’s success. You have to impress both with your creative input and, more importantly, your ability to move the group along. Focus on establishing trust with your fellow group members and building on what others say (Show you’re collaborative while also making a better point). Draw others out (Show you’re a leader who asks good questions). And make sure you’re coming across as a team player, not someone who wants to dominate the discussion.

For a really in-depth look at the group MBA interview, check out this article.

JonFrank

QUESTION :

How long should our answers be for normal interview questions?

ANSWER:

When it comes to everyone’s favorite, “Walk me through your interview,” you shouldn’t spend more than 4 minutes total. So practice that. You don’t want to spend the entire interview rehashing a resume he has probably already seen.

And for all the others… 2-3 minutes. MAX.

You don’t want to bore the guy. A good interview is a conversation. It’s relaxed. Informal. Feels less like a back and forth Q&A, and more like two people hanging out, talking. (Kind of like this!)

Much like your essays, the best stories/answers are concise. Use your words wisely and say the most stuff in the least amount of words. Make your interviewer laugh. That’s always a good sign. And ask questions. Get them talking about themselves. MBAs LOVE talking about themselves. Why just the other day I was talking to this MBA and the funniest thing happened to me…