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

JonFrank

Hello Jon,

I receive this email from ROSS, what does it mean:
"Thank you for providing the information below regarding your application.
The Admissions Committee is continuing to review your application to the Full-time MBA program in Round II. If admitted, you will need to provide official transcripts and degree documents to a third-party service for verification."

I did not receive interview invitation and it's only 8 days to the decision-releasing day. I'm quite confused. Should I take any proactive action??

-- by 会员 askwind (2011/2/28 11:10:24)

Hey there—if youd like you can absolutely submit one more short essay, or an additional LOR.  Some applicants, keep in mind, will be accepted without interviews—they make up the rules as they go along.  So for now, you sit tight.  All they are telling you is that if and when you are admitted, they will hire some people to double check that you are who you say you are.  J


Jon Frank

-- by 会员 JonFrank (2011/3/2 0:31:49)

Thank you very much, Jon What's LOR? I only submitted the scan of official transcripts, so I think they definitely need official ones after the decision. But will that be like you said, for rigorous check? Anyway, all I provided in the app are true, so it's good for me only if they are willing to check me, hehe

One more question, if they give admission without interview, what else would they do to replace the process, besides the double-check?

Thank you again, Jon. You are so nice

-- by 会员 askwind (2011/3/2 4:17:53)

Hey there!  Sorry to be unclear, we say LOR to stand for Letter of Recommendation.  So you could also submit one more letter from a reference—perhaps someone whose opinion and perspective has not yet appeared in the application.  Any ideas?  And if they do admit you without an interview, which does happen from time to time, they will simply double check the FACTS in your app.  Your transcripts, your employment, etc.  It is just a formality.  Once you’re in, you’re IN!!!!  J  Good luck, we have our fingers crossed for you my friend!


Jon Frank

JonFrank

Hi Jon,

I have a question about the global MBA program in Carey business school of JHU. I was recently admitted and I really like the university's strong background and style. But I am very worried about my post-MBA opportunity since the program is very new and I am not sure about the chance it can bring me in job market.

Hopefully, Carey business school will get more known by the day when I graduate, but I do not think two years are long enough for a new business school to get a much higher position in the competitive ranking. Then I am considering the offer again and again...

Do you have any suggestions or information for my situation? Thanks a lot!

Joe

-- by 会员 snailc (2011/3/2 1:01:03)

Joe, thanks for the kind note.  It would be a pleasure to help here.  Carey isn’t just new my friend, it is…VERY new.  Brand spanking new, as we say here in the US.  I share your concern.  Now two things to keep in mind though—Johns Hopkins is VERY well known here in the US.  So while the MBA program isn’t well known, you will get a great deal of mileage in the states.  Secondly, the JHU network is very strong, especially in certain areas (medical among others).  And you will have access to that network for sure.  So those are good things.

Do you have any other offers?   If not, I would TAKE it dude.  It is surely better than nothing, and (while we would love to work with you of course) it would be a shame to redo the process—especially if you don’t have ANY guarantees that you would have much improvement to write about.  Here is another thing you could do—reach out to current students.  Ask them DIRECTLY what they think, whether there are jobs out there, and if they are glad that they chose to go to the program.  They will be honest my friend—and they will know what is REALLY happening out there…

Now.  One FINAL thought for you.  J  Are you interested in humanistic causes, making the world a better place, etc.?  Because if Carey is making a name for itself in any area, THIS is the one worth pursuing there.  If that is a good fit for you, then it might make lots of sense to attend.  It has much in common with Yale’s SOM.  I hope this is helpful my friend, let me know what more we can do to help!


Jon Frank

snailc

Hi Jon,

I have a question about the global MBA program in Carey business school of JHU. I was recently admitted and I really like the university's strong background and style. But I am very worried about my post-MBA opportunity since the program is very new and I am not sure about the chance it can bring me in job market.

Hopefully, Carey business school will get more known by the day when I graduate, but I do not think two years are long enough for a new business school to get a much higher position in the competitive ranking. Then I am considering the offer again and again...

Do you have any suggestions or information for my situation? Thanks a lot!

Joe

-- by 会员 snailc (2011/3/2 1:01:03)

Joe, thanks for the kind note.  It would be a pleasure to help here.  Carey isn’t just new my friend, it is…VERY new.  Brand spanking new, as we say here in the US.  I share your concern.  Now two things to keep in mind though—Johns Hopkins is VERY well known here in the US.  So while the MBA program isn’t well known, you will get a great deal of mileage in the states.  Secondly, the JHU network is very strong, especially in certain areas (medical among others).  And you will have access to that network for sure.  So those are good things.

Do you have any other offers?   If not, I would TAKE it dude.  It is surely better than nothing, and (while we would love to work with you of course) it would be a shame to redo the process—especially if you don’t have ANY guarantees that you would have much improvement to write about.  Here is another thing you could do—reach out to current students.  Ask them DIRECTLY what they think, whether there are jobs out there, and if they are glad that they chose to go to the program.  They will be honest my friend—and they will know what is REALLY happening out there…

Now.  One FINAL thought for you.  J  Are you interested in humanistic causes, making the world a better place, etc.?  Because if Carey is making a name for itself in any area, THIS is the one worth pursuing there.  If that is a good fit for you, then it might make lots of sense to attend.  It has much in common with Yale’s SOM.  I hope this is helpful my friend, let me know what more we can do to help!


Jon Frank

-- by 会员 JonFrank (2011/3/3 9:17:08)

Hi Jon,
Thanksa lot for your kind help! Your information is very important for my finalchoice.
Ialso got the offer from BU and helpfully I can get admitted by CMU. Amid thethree universities, which one would you recommend for me? Below are thedetails.


In@BU with 30k/year
In@JHU with 30k/year
Interviewedwith CMU


Mygoal is to get a consulting job in healthcare right after MBA with along-term goal in entrepreneurship or VC. What I am really worried about atthis point is whether I can find a school that could put me at an advantage inthe job market when I graduate. I do love JHU, but I have to first survive before I carry outmy dream, you know.


Sincerely,
Joe

askwind

Hello Jon,

I receive this email from ROSS, what does it mean:
"Thank you for providing the information below regarding your application.
The Admissions Committee is continuing to review your application to the Full-time MBA program in Round II. If admitted, you will need to provide official transcripts and degree documents to a third-party service for verification."

I did not receive interview invitation and it's only 8 days to the decision-releasing day. I'm quite confused. Should I take any proactive action??

-- by 会员 askwind (2011/2/28 11:10:24)

Hey there—if youd like you can absolutely submit one more short essay, or an additional LOR.  Some applicants, keep in mind, will be accepted without interviews—they make up the rules as they go along.  So for now, you sit tight.  All they are telling you is that if and when you are admitted, they will hire some people to double check that you are who you say you are.  J


Jon Frank

-- by 会员 JonFrank (2011/3/2 0:31:49)

Thank you very much, Jon What's LOR? I only submitted the scan of official transcripts, so I think they definitely need official ones after the decision. But will that be like you said, for rigorous check? Anyway, all I provided in the app are true, so it's good for me only if they are willing to check me, hehe

One more question, if they give admission without interview, what else would they do to replace the process, besides the double-check?

Thank you again, Jon. You are so nice

-- by 会员 askwind (2011/3/2 4:17:53)

Hey there!  Sorry to be unclear, we say LOR to stand for Letter of Recommendation.  So you could also submit one more letter from a reference—perhaps someone whose opinion and perspective has not yet appeared in the application.  Any ideas?  And if they do admit you without an interview, which does happen from time to time, they will simply double check the FACTS in your app.  Your transcripts, your employment, etc.  It is just a formality.  Once you’re in, you’re IN!!!!  J  Good luck, we have our fingers crossed for you my friend!


Jon Frank

-- by 会员 JonFrank (2011/3/3 9:10:09)

Thanks a million, Jon Very helpful! Fingers crossed...

JonFrank

Hi Jon,

I have a question about the global MBA program in Carey business school of JHU. I was recently admitted and I really like the university's strong background and style. But I am very worried about my post-MBA opportunity since the program is very new and I am not sure about the chance it can bring me in job market.

Hopefully, Carey business school will get more known by the day when I graduate, but I do not think two years are long enough for a new business school to get a much higher position in the competitive ranking. Then I am considering the offer again and again...

Do you have any suggestions or information for my situation? Thanks a lot!

Joe

-- by 会员 snailc (2011/3/2 1:01:03)

Joe, thanks for the kind note.  It would be a pleasure to help here.  Carey isn’t just new my friend, it is…VERY new.  Brand spanking new, as we say here in the US.  I share your concern.  Now two things to keep in mind though—Johns Hopkins is VERY well known here in the US.  So while the MBA program isn’t well known, you will get a great deal of mileage in the states.  Secondly, the JHU network is very strong, especially in certain areas (medical among others).  And you will have access to that network for sure.  So those are good things.

Do you have any other offers?   If not, I would TAKE it dude.  It is surely better than nothing, and (while we would love to work with you of course) it would be a shame to redo the process—especially if you don’t have ANY guarantees that you would have much improvement to write about.  Here is another thing you could do—reach out to current students.  Ask them DIRECTLY what they think, whether there are jobs out there, and if they are glad that they chose to go to the program.  They will be honest my friend—and they will know what is REALLY happening out there…

Now.  One FINAL thought for you.  J  Are you interested in humanistic causes, making the world a better place, etc.?  Because if Carey is making a name for itself in any area, THIS is the one worth pursuing there.  If that is a good fit for you, then it might make lots of sense to attend.  It has much in common with Yale’s SOM.  I hope this is helpful my friend, let me know what more we can do to help!


Jon Frank

-- by 会员 JonFrank (2011/3/3 9:17:08)

Hi Jon,
Thanksa lot for your kind help! Your information is very important for my finalchoice.
Ialso got the offer from BU and helpfully I can get admitted by CMU. Amid thethree universities, which one would you recommend for me? Below are thedetails.


In@BU with 30k/year
In@JHU with 30k/year
Interviewedwith CMU


Mygoal is to get a consulting job in healthcare right after MBA with along-term goal in entrepreneurship or VC. What I am really worried about atthis point is whether I can find a school that could put me at an advantage inthe job market when I graduate. I do love JHU, but I have to first survive before I carry outmy dream, you know.


Sincerely,
Joe

-- by 会员 snailc (2011/3/3 9:55:56)

Joe, thanks for the kind note.  I would be honored to answer you here—and along the way, to help some other folks better understand the way to approach bschool selection.

As you know, ever since graduating from bschool we have encouraged people to go to the best school they can get into.  Now, others (typically younger applicants, even some current students) sometimes have trouble understanding this perspective.  And of course, other points (scholarships, geography, etc.) are to be considered…but they aren’t NEARLY as important as going to the best school you can get into.  Let me explain from my personal post-MBA experience.

I recently helped a few friends of mine raise some money for a film project in the US. When they asked if I had any HBS contacts, I assumed that I wouldn’t get very far w the HBS alumni database. Why? Well, HBS isn’t known for entertainment.  For entertainment, conventional wisdom would be to go to Columbia, NYU, USC, UCLA, etc.  After all, HBS didn’t even offer one class in entertainment!

Ten minutes later, I found that the CEO of Sony Pictures, CEO of LionsGate, CEO of AMC Theaters (the list goes on) aaaaall went to HBS.  Two days later, we had one of these dudes on the phone.  J You get the idea man—we go to HBS despite the fact that they don’t have a strong “connection” to the film world. I got a plum post-MBA job in real estate from HBS, and I never took even the ONE real estate class at HBS. Besides, HBS only offers one real estate class anyway!  : ) But the companies I was applying to only recruited at HBS, Stanford, and Wharton…

So don’t be lead astray!  All schools of course have countless opportunities for leadership, clubs, etc.  So through our years of experience (helping thousands of candidates, and my own friends who have graduated from bschool), we have found a way to keep things niiiice and simple: go to the best school you can get into.  J  This is far more important than scholarships, geography, “quality of teaching” etc.  Take it from me—I have seen it all first-hand, literally thousands of times.

Now.  To your specific case.  CMU has the best reputation by far of all the schools you’ve listed.  I would try to get in there.  Then, we weigh BU versus JH.  But lets shoot for CMU if we can dude!  And $30K should NEVER enter into your thoughts.  Five years from now, when you are sitting in my shoes for example, this will be so clear to you.  After all, what is an additional $30K in loans per month, per month?  eanuts, compared to all the money you will make in a great career lifetime…

That's the key my friend.  Hope this helps dude, and good luck!

Jon Frank

kongkong57

Can't agree more..

snailc

Hi Jon,

I have a question about the global MBA program in Carey business school of JHU. I was recently admitted and I really like the university's strong background and style. But I am very worried about my post-MBA opportunity since the program is very new and I am not sure about the chance it can bring me in job market.

Hopefully, Carey business school will get more known by the day when I graduate, but I do not think two years are long enough for a new business school to get a much higher position in the competitive ranking. Then I am considering the offer again and again...

Do you have any suggestions or information for my situation? Thanks a lot!

Joe

-- by 会员 snailc (2011/3/2 1:01:03)

Joe, thanks for the kind note.  It would be a pleasure to help here.  Carey isn’t just new my friend, it is…VERY new.  Brand spanking new, as we say here in the US.  I share your concern.  Now two things to keep in mind though—Johns Hopkins is VERY well known here in the US.  So while the MBA program isn’t well known, you will get a great deal of mileage in the states.  Secondly, the JHU network is very strong, especially in certain areas (medical among others).  And you will have access to that network for sure.  So those are good things.

Do you have any other offers?   If not, I would TAKE it dude.  It is surely better than nothing, and (while we would love to work with you of course) it would be a shame to redo the process—especially if you don’t have ANY guarantees that you would have much improvement to write about.  Here is another thing you could do—reach out to current students.  Ask them DIRECTLY what they think, whether there are jobs out there, and if they are glad that they chose to go to the program.  They will be honest my friend—and they will know what is REALLY happening out there…

Now.  One FINAL thought for you.  J  Are you interested in humanistic causes, making the world a better place, etc.?  Because if Carey is making a name for itself in any area, THIS is the one worth pursuing there.  If that is a good fit for you, then it might make lots of sense to attend.  It has much in common with Yale’s SOM.  I hope this is helpful my friend, let me know what more we can do to help!


Jon Frank

-- by 会员 JonFrank (2011/3/3 9:17:08)

Hi Jon,
Thanksa lot for your kind help! Your information is very important for my finalchoice.
Ialso got the offer from BU and helpfully I can get admitted by CMU. Amid thethree universities, which one would you recommend for me? Below are thedetails.


In@BU with 30k/year
In@JHU with 30k/year
Interviewedwith CMU


Mygoal is to get a consulting job in healthcare right after MBA with along-term goal in entrepreneurship or VC. What I am really worried about atthis point is whether I can find a school that could put me at an advantage inthe job market when I graduate. I do love JHU, but I have to first survive before I carry outmy dream, you know.


Sincerely,
Joe

-- by 会员 snailc (2011/3/3 9:55:56)

Joe, thanks for the kind note.  I would be honored to answer you here—and along the way, to help some other folks better understand the way to approach bschool selection.

As you know, ever since graduating from bschool we have encouraged people to go to the best school they can get into.  Now, others (typically younger applicants, even some current students) sometimes have trouble understanding this perspective.  And of course, other points (scholarships, geography, etc.) are to be considered…but they aren’t NEARLY as important as going to the best school you can get into.  Let me explain from my personal post-MBA experience.

I recently helped a few friends of mine raise some money for a film project in the US. When they asked if I had any HBS contacts, I assumed that I wouldn’t get very far w the HBS alumni database. Why? Well, HBS isn’t known for entertainment.  For entertainment, conventional wisdom would be to go to Columbia, NYU, USC, UCLA, etc.  After all, HBS didn’t even offer one class in entertainment!

Ten minutes later, I found that the CEO of Sony Pictures, CEO of LionsGate, CEO of AMC Theaters (the list goes on) aaaaall went to HBS.  Two days later, we had one of these dudes on the phone.  J You get the idea man—we go to HBS despite the fact that they don’t have a strong “connection” to the film world. I got a plum post-MBA job in real estate from HBS, and I never took even the ONE real estate class at HBS. Besides, HBS only offers one real estate class anyway!  : ) But the companies I was applying to only recruited at HBS, Stanford, and Wharton…

So don’t be lead astray!  All schools of course have countless opportunities for leadership, clubs, etc.  So through our years of experience (helping thousands of candidates, and my own friends who have graduated from bschool), we have found a way to keep things niiiice and simple: go to the best school you can get into.  J  This is far more important than scholarships, geography, “quality of teaching” etc.  Take it from me—I have seen it all first-hand, literally thousands of times.

Now.  To your specific case.  CMU has the best reputation by far of all the schools you’ve listed.  I would try to get in there.  Then, we weigh BU versus JH.  But lets shoot for CMU if we can dude!  And $30K should NEVER enter into your thoughts.  Five years from now, when you are sitting in my shoes for example, this will be so clear to you.  After all, what is an additional $30K in loans per month, per month?  eanuts, compared to all the money you will make in a great career lifetime…

That's the key my friend.  Hope this helps dude, and good luck!

Jon Frank

-- by 会员 JonFrank (2011/3/6 2:09:28)

Jon

Thanks a million for your generous help and honest words! You've saved me from the dangerous mindset. I understand your position about goting to the best school as I can get into.

Now here comes another question - how to define the 'best'? As you said earlier, JHU is a big name and I also believe it is very potential in growing to a tob bschool someday in the future, which will probably foster my career development? On the other hand, CMU is ranked top16, a postion that is not too high or too low, making JHU appear more attractive (since JHU is ranked higher than CMU though JHU's MBA program is very new).

As a result, I have no idea about making a final decision between CMU and JHU.

Joe

JonFrank

Hi Jon,

I have a question about the global MBA program in Carey business school of JHU. I was recently admitted and I really like the university's strong background and style. But I am very worried about my post-MBA opportunity since the program is very new and I am not sure about the chance it can bring me in job market.

Hopefully, Carey business school will get more known by the day when I graduate, but I do not think two years are long enough for a new business school to get a much higher position in the competitive ranking. Then I am considering the offer again and again...

Do you have any suggestions or information for my situation? Thanks a lot!

Joe

-- by 会员 snailc (2011/3/2 1:01:03)

Joe, thanks for the kind note.  It would be a pleasure to help here.  Carey isn’t just new my friend, it is…VERY new.  Brand spanking new, as we say here in the US.  I share your concern.  Now two things to keep in mind though—Johns Hopkins is VERY well known here in the US.  So while the MBA program isn’t well known, you will get a great deal of mileage in the states.  Secondly, the JHU network is very strong, especially in certain areas (medical among others).  And you will have access to that network for sure.  So those are good things.

Do you have any other offers?   If not, I would TAKE it dude.  It is surely better than nothing, and (while we would love to work with you of course) it would be a shame to redo the process—especially if you don’t have ANY guarantees that you would have much improvement to write about.  Here is another thing you could do—reach out to current students.  Ask them DIRECTLY what they think, whether there are jobs out there, and if they are glad that they chose to go to the program.  They will be honest my friend—and they will know what is REALLY happening out there…

Now.  One FINAL thought for you.  J  Are you interested in humanistic causes, making the world a better place, etc.?  Because if Carey is making a name for itself in any area, THIS is the one worth pursuing there.  If that is a good fit for you, then it might make lots of sense to attend.  It has much in common with Yale’s SOM.  I hope this is helpful my friend, let me know what more we can do to help!


Jon Frank

-- by 会员 JonFrank (2011/3/3 9:17:08)

Hi Jon,
Thanksa lot for your kind help! Your information is very important for my finalchoice.
Ialso got the offer from BU and helpfully I can get admitted by CMU. Amid thethree universities, which one would you recommend for me? Below are thedetails.


In@BU with 30k/year
In@JHU with 30k/year
Interviewedwith CMU


Mygoal is to get a consulting job in healthcare right after MBA with along-term goal in entrepreneurship or VC. What I am really worried about atthis point is whether I can find a school that could put me at an advantage inthe job market when I graduate. I do love JHU, but I have to first survive before I carry outmy dream, you know.


Sincerely,
Joe

-- by 会员 snailc (2011/3/3 9:55:56)

Joe, thanks for the kind note.  I would be honored to answer you here—and along the way, to help some other folks better understand the way to approach bschool selection.

As you know, ever since graduating from bschool we have encouraged people to go to the best school they can get into.  Now, others (typically younger applicants, even some current students) sometimes have trouble understanding this perspective.  And of course, other points (scholarships, geography, etc.) are to be considered…but they aren’t NEARLY as important as going to the best school you can get into.  Let me explain from my personal post-MBA experience.

I recently helped a few friends of mine raise some money for a film project in the US. When they asked if I had any HBS contacts, I assumed that I wouldn’t get very far w the HBS alumni database. Why? Well, HBS isn’t known for entertainment.  For entertainment, conventional wisdom would be to go to Columbia, NYU, USC, UCLA, etc.  After all, HBS didn’t even offer one class in entertainment!

Ten minutes later, I found that the CEO of Sony Pictures, CEO of LionsGate, CEO of AMC Theaters (the list goes on) aaaaall went to HBS.  Two days later, we had one of these dudes on the phone.  J You get the idea man—we go to HBS despite the fact that they don’t have a strong “connection” to the film world. I got a plum post-MBA job in real estate from HBS, and I never took even the ONE real estate class at HBS. Besides, HBS only offers one real estate class anyway!  : ) But the companies I was applying to only recruited at HBS, Stanford, and Wharton…

So don’t be lead astray!  All schools of course have countless opportunities for leadership, clubs, etc.  So through our years of experience (helping thousands of candidates, and my own friends who have graduated from bschool), we have found a way to keep things niiiice and simple: go to the best school you can get into.  J  This is far more important than scholarships, geography, “quality of teaching” etc.  Take it from me—I have seen it all first-hand, literally thousands of times.

Now.  To your specific case.  CMU has the best reputation by far of all the schools you’ve listed.  I would try to get in there.  Then, we weigh BU versus JH.  But lets shoot for CMU if we can dude!  And $30K should NEVER enter into your thoughts.  Five years from now, when you are sitting in my shoes for example, this will be so clear to you.  After all, what is an additional $30K in loans per month, per month?  eanuts, compared to all the money you will make in a great career lifetime…

That's the key my friend.  Hope this helps dude, and good luck!

Jon Frank

-- by 会员 JonFrank (2011/3/6 2:09:28)

Jon

Thanks a million for your generous help and honest words! You've saved me from the dangerous mindset. I understand your position about goting to the best school as I can get into.

Now here comes another question - how to define the 'best'? As you said earlier, JHU is a big name and I also believe it is very potential in growing to a tob bschool someday in the future, which will probably foster my career development? On the other hand, CMU is ranked top16, a postion that is not too high or too low, making JHU appear more attractive (since JHU is ranked higher than CMU though JHU's MBA program is very new).

As a result, I have no idea about making a final decision between CMU and JHU.

Joe

-- by 会员 snailc (2011/3/6 13:26:37)

Joe, it's a great question.  And it will take some research (on both our parts) to determine it.  Both of these schools are comparable from a reputation standpoint (although in the US anyway, JH's MBA program is much less well known than that if CM).  Remember, JH is highly rated, but its MBA program is not.  


But so now, we start to look at the other factors.  Reaching out to alums to determine how they are doing this year with jobs, gauging the personality of the school, etc.  Do you want to stay in the US?  Which school has a better reputation in China, more alums, etc.?  Who offers more exciting classes in your field of choice?   I believe I know the answers to all these questions my friend, but I want you to come to them on your own.  : )


Still, you can start that work now (doing that research).  


But the first step of course would be...to get into CM first.  : )


Jon Frank

JonFrank

Oookay gang.  We've had a few clients reach out to us, asking some great questions.  Lately, the trend seems to be as follows:"Jon, I know that I should go to the best school I can get into.  But I have a GMAT of 620 I simply cant get into a top ten program.  eriod.  So...what do I do?"
And the truth is that there is PLENTY that you can do.  And with that, let's perhaps list our first-annual
Top Three Ways to get into a GREAT MBA Program that isnt Necessarily HBS, Stanford, Wharton...or Duke.  For example.
1.  Geography.  Let's say that HBS is out of your league.  But you live in Texas, and you reeeally want to work for GE Energy down in Houston.  Well, there are some GREAT programs in Texas that likely have great contacts locally.  Rice, UT, even Texas A&M will wire you into these jobs.  It doesnt have to be the best school in the world, per se--not if they can give you some killer access where you need it.
2.  Specialty Fields.  Do you like entrepreneurship?  Look at Babson.  Do you like Healthcare Management?  Look at Vanderbilt.  These programs are FABULOUS places to meet people and to learn, in your fields of choice.  And since they dont have the reputations of an HBS or a Wharton, the chances of your getting in are MUCH higher.  Look at programs where you can perhaps pursue a specialty--some of the best programs are not at top-ranked general management schools.
3.  art Time Programs.  It is easier to get into Kellogg's part time program, than into its full-time program.  Same with Booth and others.  If the full time program is out of reach, consider looking at the part time options.  The bar is set just a bit...more attainably, so to speak.
There are some GREAT ways to get into FANTASTIC programs, that arent in the top five, ten, or even fifteen. You just need to know where and how to look for them.


Good luck to everyone!

Jon Frank

JonFrank

My friends,

Today we will discuss a topic near and dear to my heart: REAL ESTATE.  As many of you know, in addition to running , I am also a very active real estate investor, developer, and manager.  After graduating from HBS, I worked at Trammell Crow Residential, ING, and others doing RE stuff.  And we often get emails from friends on these boards, asking whether to go for a Masters in Real Estate versus an MBA.  And frankly, I have very strong feelings about the matter.  So today, for all our real estate junkies out there, I will offer up our first annual "Top five reasons to get an MBA--not a Masters in Real Estate."  And as usual, I would appreciate a marketing person emailing me offline and helping me come up with a more zippy name...

: )

1) Picture yourself raising money. The guys who may be financing your real estate ventures may not know much about advanced degrees, real estate programs, "the fact that Stanford is harder to get into than HBS" etc.  But I'll tell ya what they DO know: "Harvard Business School."  "Wharton."  "MBA."  A well-renowned MBA amounts to instant respect.  And in the fund raising world, sometimes that is the most valuable currency around.

2) You dont actually know what you wanna do. I know you are certain that you will be doing real estate when you grow up.  But what if someone comes along, and offers you something else that you cant refuse?  What if, say, you wanna launch part deux?  WHO KNOWS what youre gonna be doing in your life in 20 years.  But Ill promise you one thing--no matter what it is, you will get mileage out of your MBA as you do it.

3) Real estate is actually easy. You dont need to go to school to learn it.  You will learn everything you need to on the job anyway.  You should go back to school for the OPPOSITE reason--not to learn more about real estate, which you will learn about for the rest of your life after school--but to learn about the OTHER stuff.  How will I market my new company.  How will I raise funds when I launch my new development company.  How can I lead a team, once I have my own venture.  THAT is the stuff you actually need to go to school to learn.  Not "how do I calculate an IRR on a real estate investment..."

4) Meet OTHER people--outside real estate.  This is key, both for personal and for professional reasons.  art of why business school is so great, is that you will meet amazing people.  An entrepreneur from Argentina.  A McKinsey consultant from Mumbai.  A record executive from LA.  You want to meet these people--to expand your horizons, both as friends (how cool is it to get to know amazing, creative people) and as possible partners (youre the real estate guy--these dudes become your finance guys.  Contacts.)  EXPAND your horizons, people--thats the best and most valuable part about business school

5) Getting jobs is easier.  Can you imagine being in a program with 150 people, all in Boston, looking for the exact same job?  Maybe some folks would prefer finance to development, or Boston to Providence or NYC.  But...still.  It is VERY hard to get jobs, when you are surrounded by people with your exact background.  Now, imagine that youre at Stanford GSB.  Even Cornell.  How many real estate folks will be there in your class, do you think?  Ten?  Twenty?  Spread across the country, when job season comes along--you will get a job.  Much, much, much less competition.  And that is pretty important, wouldnt you say?

Hope this helps, gang.  Get an MBA--its the only game in town.

Jon Frank