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

JonFrank

Friends,

There seems to be a bit of mystery around who the PROFESSORS are at top b-schools. Everyone (who follows our blog, anyway) has a pretty good sense for who the student peers will be, and even met some alums from time to time. But who are the guys who are actually TEACHING your classes? Who are b-school professors?

Well, let’s get into it. It’s actually a neat question.

You will have a few different types of professors standing in front of the class in MBA programs.  Let’s narrow it down to three main types:

1. Extremely smart young people who have never had a real job.  Now, while these folks have never worked a day in their lives, often, they are EXTREMELY smart.  Smart enough to get one of these cushy MBA teaching jobs.  They pay well, the hours and lifestyle are great, and they are quite prestigious.  If a college professor makes $60K USD, an MBA professor at a great school makes $100K more than that.  And the PhD programs that these folks go to are IMPOSSIBLE to get into.  I’m talkin’ ten people in the PhD programs… TOTAL.  These folks make up for what they lack in business experience, with SMARTS.

2. Extremely smart older people who have been extremely successful in business, prior to teaching.  Sometimes these folks wont even have MBAs, or PhDs.  But schools will ask them to be lecturers.  They are VERY valuable, and teach lots of courses (at CBS, for example). They tell folks what it’s like “in the real world.”  No theories, no BS.  Just real life lessons from the trenches.  Often they teach these courses for free.  After all, they are filthy rich.

3. Extremely smart people who started out in #1 above, and now do CONSULTING for companies in industry.  Many folks will never work in industry, but once they are tenured professors (after 5-7 years as a teacher at an MBA program) they will start to do consulting for big companies.  BIG bucks to be had here too – these are the guys who write books, the gurus of business.

As you can see, no matter where they come from, there are lots of smart folks teaching business school out there. That’s one reason why it is so important to go to a great school, and why we always recommend going to the best school you can get into. The caliber of professors (and ultimately what you’ll take with you when you leave) is at stake.

Conventional wisdom is that at bschool, you will learn the most from your classmates and peers. And, of course, that is true. But the professors at top schools…they’re not too shabby either.

Jon Frank
HBS 2005

sc1381246

Hi there,

I got my PBT for 620 in Sweden, is it working when i apply for MBA program. I am Chinese working in EU now.

Thanks.

JonFrank

Hey gang, we were doing an interview on grad school and business school--thought Id share a quick Q&A...
How does one decide if bschool is right for them? What kind of questions should they be asking?
This is the oldest question in the book--and the answer is...it depends! In our opinion, there are two ways to approach this question. The first is with regard to job prospects. One can do a simple calculation--would I get better work, more interesting work, make more money--whatever the metrics are, with this degree. If the degree puts you in a firmly, tangibly BETTER position, then GO TO SCHOOL. You are currently at Point A. You want to get to Point C. Will a masters degree get you to point B? Maybe point B+? If yes, then GO TO SCHOOL.
Now. There is one other way to look at it. This is what our clients call our "touchy-feely" side. Namely, life is a journey. There is an instance where you may NOT benefit a great deal, from a professional perspective, from bschool. But it still may be worth your time. Why? Because you will meet new people, have new experiences, perhaps live in a new city--all these can be powerful incentives to go to school. Suck the marrow out of life, and take yourself to NEW experiences and settings along the way.
If neither of these two scenarios appeals to you--either the job-oriented, or the "touchy-feely," then bschool likely isnt for you.

Jon Frank
HBS 2005

JonFrank

Hi there,

I got my PBT for 620 in Sweden, is it working when i apply for MBA program. I am Chinese working in EU now.

Thanks.

-- by 会员 sc1381246 (2011/7/20 2:55:56)

Yes, the TOEFL will be good to submit no matter where you took the exam.  The trick is of course, does yoru score match up well to the schools you are considering applying to!  Good luck my friend…


Jon Frank
HBS 2005

JonFrank

Evolution has no will. [Apologies to any Creationists out there, but just indulge us for a moment…]

If you think “the tornado” occurred because nature felt fat one day, and took its self-image issues out on humanity, it would… not sit quite right. If a train that was hurtling toward a defenseless child all of sudden ran out of gas moments before impact, sparing the child’s life… sure the parents of that child might thank nature, but I might get pissed that the train that killed MY child wasn’t so kind.

Take morality and will out of it for a second though, and understand that… stuff happens. Cells divide, asteroids crash into things, tornados… wreak havoc. Why? It can all be explained (a bit soullessly) by simple, clear, “scientific” explanations. Chemical, biological, physical THINGS line up to result in cause/effect moments in time.

Such should be the M.O. of an explanation of a bad grade or low GMAT score. Be soulless about it. Be scientific. Stuff happened that led to it, and here’s what that stuff is.

Let’s boil the “excuse” down to two types: Personal and Professional. Personal reasons: supporting a family, sick family member, being a new immigrant, etc. Professional reasons: holding a full time job while in school, lack of balance between job-related endeavor and coursework.

The last thing that the Adcom wants to read is a whiny set of long-winded excuses. So what’s the right way?

Confident. Candid. Concise.

Do not be apologetic, just… explain it. Don’t justify it, just explain it. Don’t try to spin it, just explain it. A clear, quick explanation ITSELF can earn you credibility, more so than your argumentation.

I screwed up. Here’s what happened. Not an excuse, that’s just what happened. Here’s proof that I learned from it.

Zip in, zip out.

Everyone has a bad grade, and lots of folks didn’t do so well on the GMAT. Don’t pretend that you are the coolest smartest person or the first-ever to have to work through college or support family. Just explain it coolly and crisply. This the one time you actually WANT to be a bit soulless. We’ll accept a destructive earthquake if we understand things like “fault lines.” Harder to swallow when Mother Earth tries to justify it.

Good luck with everything gang--like always

Jon Frank
HBS 2005

JonFrank

Here's a repost from an Indian friend of ours who has a good question about Rretaking the GMAT:

Hi,

Profile:
Undergrad GPA - 85% in Engineering from India. (must be 3.6 GPA)Topped the department in university.
Gmat - 1) 620 (q-50,v -24)
2) 680 (q-47,v-37)
3) 710 (q-49,v-37)
Work Exp: 1) As a marketing head in a chemical agency for 6 months after undergraduation.
2)For past 3 years working in a well-known IT MNC. Currently I am the team lead of 7 members managing a project worth $50 million. I have been promoted once in my tenure and have strong recommendations. I have won few awards at work and have completed few certifications provided by my company. The certifications are related to finance.

Extra curric - Good(Running an ngo along with friends for the past 3 years).

Post mba goals : Consulting in finance/Strategy

I had applied to Ross last year in round 2 after my second gmat attempt of 680. But I was dinged without an interview. Since the bar for the GMAT in my work category(Indian IT) tends to be higher, I retook the Gmat few days back and have got 710. But I am not satisfied as i was expecting ATLEAST 730. I am also confused whether I should retake the Gmat 4tth time!!!Few people in blogs are advising me to retake it fourth time as they are saying that the competition is tough among Indian IT students. If I give a shot again at Gmat I am sure, I will end up getting 730-750.

So please let me know whether 710 is sufficient to get into top 15 b schools in US considering my IT background. Also whether the adcom people would consider taking gmat 4th time as a negative aspect.

Thanks.

------------------------------------------------------------
The competition is tough, especially among Indian tech fellas, and especially amongst those who want to move into finance.
As for advice on whether you should take it again, I've posted this before a bit, but it depends on a few things:
a) how old you are (i.e. Would being one year older harm your chances?)
b) your real life situation (i.e. is this the perfect time for you to go because you just got married, or can you reasonably stay on because you will get a promotion anyway)
c) how much under your potential high score you are scoring
d) how close we are to deadlines.

So if you are gonna retake the test for a chance to MAYBE get 20 points more, forget about it. If, however you can hit a 770, go for it!

But I do have to say that it's not those 20 extra points that's gonna impress the AdCom, it's your essays, your stories, your passion, and what you have done. The tough thing with your applicant pool is not the GMAT but the similarity of profiles. You gotta stick out! It's the only way they will remember you and choose you.

Jon Frank
HBS 2005

parachute3

Hi Jon,

Also wondering whether I should retake my gmat. First take was 720 (q50 v38), undergrad top 15 in the US (gpa 3.8)

I just finished college and am planning to go to b-school in 2-3 years after working (top IT MNC, sales management function). My target schools are top 5 B-schools including HBS, Stanford and Wharton. I was wondering whether I should retake the gmat. Personally I think my score potential should be around 740-760 (based on the results of my practice exams) and still have 2-3 years till application.

Thanks so much in advance for your reply!

-Lindsay

JonFrank

Hi Jon,

Also wondering whether I should retake my gmat. First take was 720 (q50 v38), undergrad top 15 in the US (gpa 3.8)

I just finished college and am planning to go to b-school in 2-3 years after working (top IT MNC, sales management function). My target schools are top 5 B-schools including HBS, Stanford and Wharton. I was wondering whether I should retake the gmat. Personally I think my score potential should be around 740-760 (based on the results of my practice exams) and still have 2-3 years till application.

Thanks so much in advance for your reply!

-Lindsay

-- by 会员 parachute3 (2011/8/10 20:54:47)

Hello Ms. Lindsay.  Happy to offer up some help here.  Now your 720 is juuust fine.  No need to retake it.  But if you think you can do better?  Much better?  Well then you should retake it.  Let me put it to you this way—if you felt like 720 was a pretty good indicator of your skills, then I’d say to leave it alone.  J  But if you are somewhat confident that your skills are NOT well showcased by that score, then redo the test.  It seems like you have the time to get it done.  So make it happen madame!  J  And good luck to you




Jon Frank


HBS 2005

gelukkig

is managing how many people that important for MBA Application? Jon, for all the applicants you know, what percentage of applicants have "managing ppl" experience?

JonFrank

is managing how many people that important for MBA Application? Jon, for all the applicants you know, what percentage of applicants have "managing ppl" experience?

-- by 会员 gelukkig (2011/8/12 1:39:57)

Hello my friend.  Many applicants do NOT have this management experience, directly over people.  After all, what 25 year old has managed a team of 400 people etc.?  That is NOT what business schools want.  They want someone with management POTENTIAL.  So for example, if one time your boss left town and you managed some people, THAT would show your potential.  Or if you have managed even a small project, even for a brief time.  that would show your management potential.  Of course they don’t want a 60 year old man, who has been managing people for years.  What they want is someone young, who has shown at a few KEY times in his career, that he has what it takes to manage people.  Even just one or two isolated experiences would be just fine.


Jon Frank
HBS 2005