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

JonFrank

QUESTION:

Hi. I’m interested in applying to MBA programs that start in 2013. I know it’s early and essay questions aren’t out yet, but I’m wondering if there’s anything I can start working on now?

ANSWER:

Hello there! Great question and one, quite frankly, we wish we got more around here. Too often people come to us for help in the 11th hour, when their apps are due in less than a week! It’s great that you want to be proactive and get an early start.

And sure, essay questions for next year won’t be posted for a few months, but that doesn’t mean you can’t get started on the application process now. After all, there’s a LOT to do before you can actually start filling out those apps.

Take the GMAT. And do well on it. Yes, this one’s a given, but there’s more to it than simply sitting for the test. Think about the schools you want to go to (more on that later) and make sure your GMAT is competitive. If it’s not, sign up for a GMAT prep class and prepare to re-take the exam. If you start now, you could have it all done by April or May… which is perfect timing for those round 1 apps.

[How do you know if your GMAT is competitive? Sign up for US News and World report’s MBA rankings. For $20 you have access to the most comprehensive list of schools and stats that will help you throughout the application process.]

Research. You want to go to Harvard/Stanford/Wharton? Great! So does the rest of the world. Do yourself and favor and look into some other programs. There are tons of awesome b-schools out there beyond H/S/W, and you’d be doing yourself a great disservice if you didn’t consider them.

What should you be looking for? That depends on what’s important to you, but research where the school is located, what sort of student groups there are, key faculty members and classes, the post-grad employment stats, and all the other aspects of a school that make it a good fit for you.

[We recommend applying to at least 7 schools (2 reach, 2 “safe” and 3 right in the middle), so spend some time and find the 7 schools that work for you.]

Fill in the holes. Do you know what’s required for b-school apps? First, find that out and then make sure you’ve got your ducks in a row. Line up some potential recommenders, get your resume in order, step up to the plate at work and take on a leadership role. Do whatever you have to do NOW so you’re a strong applicant come September.

Visit! We say this all the time… and that’s because it’s important. You’re going to be spending up to two years (and a lot of money!) in b-school, so you want to be 100% certain that you’re happy with your choice. How can you be sure if you’ve never stepped foot on campus? So get there. Walk around, sit in on a class, chat with students and just soak up the campus culture.

Yyyyep… it’s a lot. And we haven’t even gotten to the actual applications yet.  Aren’t you glad you’re getting started early? There’s a lot of work to do, friend… The good news is you’ve got plenty of time to do it.

We’re here if you need us.

Good luck!

– Jon Frank

JonFrank

QUESTION:

Hi. I’m interested in applying to MBA programs that start in 2013. I know it’s early and essay questions aren’t out yet, but I’m wondering if there’s anything I can start working on now?

ANSWER:

Hello there! Great question and one, quite frankly, we wish we got more around here. Too often people come to us for help in the 11th hour, when their apps are due in less than a week! It’s great that you want to be proactive and get an early start.

And sure, essay questions for next year won’t be posted for a few months, but that doesn’t mean you can’t get started on the application process now. After all, there’s a LOT to do before you can actually start filling out those apps.

Take the GMAT. And do well on it. Yes, this one’s a given, but there’s more to it than simply sitting for the test. Think about the schools you want to go to (more on that later) and make sure your GMAT is competitive. If it’s not, sign up for a GMAT prep class and prepare to re-take the exam. If you start now, you could have it all done by April or May… which is perfect timing for those round 1 apps.

[How do you know if your GMAT is competitive? Sign up for US News and World report’s MBA rankings. For $20 you have access to the most comprehensive list of schools and stats that will help you throughout the application process.]

Research. You want to go to Harvard/Stanford/Wharton? Great! So does the rest of the world. Do yourself and favor and look into some other programs. There are tons of awesome b-schools out there beyond H/S/W, and you’d be doing yourself a great disservice if you didn’t consider them.

What should you be looking for? That depends on what’s important to you, but research where the school is located, what sort of student groups there are, key faculty members and classes, the post-grad employment stats, and all the other aspects of a school that make it a good fit for you.

[We recommend applying to at least 7 schools (2 reach, 2 “safe” and 3 right in the middle), so spend some time and find the 7 schools that work for you.]

Fill in the holes. Do you know what’s required for b-school apps? First, find that out and then make sure you’ve got your ducks in a row. Line up some potential recommenders, get your resume in order, step up to the plate at work and take on a leadership role. Do whatever you have to do NOW so you’re a strong applicant come September.

Visit! We say this all the time… and that’s because it’s important. You’re going to be spending up to two years (and a lot of money!) in b-school, so you want to be 100% certain that you’re happy with your choice. How can you be sure if you’ve never stepped foot on campus? So get there. Walk around, sit in on a class, chat with students and just soak up the campus culture.

Yyyyep… it’s a lot. And we haven’t even gotten to the actual applications yet.  Aren’t you glad you’re getting started early? There’s a lot of work to do, friend… The good news is you’ve got plenty of time to do it.

We’re here if you need us.

Good luck!

– Jon Frank

zhaoshating

Dear Jon,

Let me start from a self introduction. My name is Jerry. I am writing to expect your kind suggestion regarding to my career plan.

I graduated from a 30th some Chinese university with a degree in liberal arts (broadcasting and television). I do not want to further clarify why I joined the program. But my career plan is as below:

in 10 years--my death, start-up. Focusing on less developed area in China. Possibly agribusiness and retailing area, but the area is still not quite sure.
in 5-10 years, PE/VC
in 2-3 years. American MBA,
now, an associate in tax arm of big four accounting firms

My ultimate goal is to do my own business. People say that "if you want to do start-up". You do not have to get an MBA or work as a white collar. Perhaps they are right. But I think life itself is just a matter of experience. After all, the last stop for all of us is tomb, ain't it? so, I will go to attend an MBA and I will join PE before start-up.

You may imagine: It is very difficult for me to get into big four as a liberal arts graduate. Since, at least in China, unlike technology and science graduates, liberal arts graduates are indeed discriminated by most commercial sectors. Frankly speaking, I wish I can accumulate pre-MBA experience in consulting sector(strategy, due dilligence, etc.) like Bain or big four advisory arm, not legal regulatory jobs as I currently do. But again, it is so difficult for me to switch among commercial sectors.

My question is,
1. Do you think my liberal arts background means a dead end for me to get into top-tier American business school? From another perspective, do you think it adds value to me when admission officers think that"He must have something special since this liberal arts guy can get into the big four firm"?

2. I am currently thinking about switch my job. Based on my career plan and interest, I am thinking about three possible places. First, advisory arms of big four--But not that possible because of my academic background, and my current work tax does not fit corporate strategy jobs. Second, corporate finance department(i.e loan evaluation) of commercial bank, where I thought I can learn due dilligence and industrial/corporate research and evaluation jobs as well. Third, to be a financial journalist. I have academic background in media and media is easier for me to get in. Actually, I thought interviewing entrepreneurs and business insiders all day can be a better way than most commercial sectors for me to learn about business and to train my critical thinking. However, Will admission officers agree? Do you think the business jounalist job can be recognized by MBA admission officers? After all, based on existing profiles, journalism pool is a rare one for MBA. Is this experience too risky for MBA preparation?

The three places above, due dilligence in big four, bank loan evaluation, and journalist, are all for my start-up preparation as well. No matter for DD or for journalist, development of small enterprises always make me excited and I will surely pay special attention to SMEs.

3. I will tell admission officers that I wish to do my own business in agriculture. But currently I have done very little to prove I am serious to my plan. I wish to go to Africa to be a volunteer in a agriculture related enterprise or NGO. Does this kind of experience count?

My scores: GPA 3.33/4, GMAT 710(Will surely retake), IELTS 7.5(approximately equals to 106/107 for TOEFL)

Thank you for reading such a long letter. I really appreciate if you can help me since your suggestion means one of the most important decision of a little boy.

Best regards,
Jerry

rabbitoma

Dear Jon:

Could I ask you a question? Now I finished my interview of Yale, and my mentor, Marketing Director TOP 500 company, who is also Yale MBA alumnus is willing to write me an additional recommendation letter to Yale. My question is, is the recommendation letter help? If yes, which mail address should the letter send. Just send to the admissions@yale.edu or send to the Associate Director? Which could ensure the Yale admissions consider the recommendation letter?

Thank you

JonFrank

Dear Jon:

Could I ask you a question? Now I finished my interview of Yale, and my mentor, Marketing Director TOP 500 company, who is also Yale MBA alumnus is willing to write me an additional recommendation letter to Yale. My question is, is the recommendation letter help? If yes, which mail address should the letter send. Just send to the admissions@yale.edu or send to the Associate Director? Which could ensure the Yale admissions consider the recommendation letter?

Thank you

-- by 会员 rabbitoma (2012/2/10 17:19:27)

Hello my friend.  The answer to your question is that YES!  Unless the folks at Yale have asked you specifically NOT to send any more info over (as they do at Wharton for example) then you should be able to send an additional LOR.  You will want to send it to whomever is emailing you, from the admissions committee.  ersonally, I would CC as MANY people on it as you think are relevant, including admissions, the Assistant Dean, etc.  Anyone whom you have had any contact with should receive the thing—just to be sure that “the right person” has a chance to see it.  Hope this helps, and good luck!


Jon Frank
Founder PrecisionEssay

needthat

Dear Jon,

I remember reading in your many posts somewhere that one should go to the best school one could possibly get in. When you say that, do you take into consideration of the financial situations?

I have been lucky to receive a full scholarship at Ross as well as acceptance to MIT. I am also trying for Wharton, interviewing on Friday. It's very difficult to turn down a full scholarship not to mention the fact that Ross is a great school. What is your opinion on this? How much does the reputation of the school you went to matter in your career?

Thanks a lot!

JonFrank

Dear Jon,

I remember reading in your many posts somewhere that one should go to the best school one could possibly get in. When you say that, do you take into consideration of the financial situations?

I have been lucky to receive a full scholarship at Ross as well as acceptance to MIT. I am also trying for Wharton, interviewing on Friday. It's very difficult to turn down a full scholarship not to mention the fact that Ross is a great school. What is your opinion on this? How much does the reputation of the school you went to matter in your career?

Thanks a lot!

-- by 会员 needthat (2012/2/14 3:48:55)

Hello my friend.  Yes, we DO take financial considerations into account—that is, our advice is to try hard to NOT take such considerations into account.  Why?  If you go to Wharton and not Ross, you will make up the $difference 60K in three years, five years max.  And then what happens after those 3-5-7 years?  20 year later?  You have a difference of MILLIONS!  BILLIONS!  J  You get the idea—don’t be “penny wise, pound foolish.”  Go to the best school you can get into.  If you get into Wharton, GO THERE.  MIT is better than Ross in most programs as well—use your scholarship offer to negotiate with MIT…then go to MIT, or Wharton.  Go to the best school you can get into.  $30K a year for 3 years will seem like a lot less in 5 -10 years time.  Hope this helps, and congrats on such a great set of choices！


Jon Frank
PrecisionEssay

needthat

Thank you Jon. What you said is inspiring.
penny wise, pound foolish
I learned a new expression too!

JonFrank

QUESTION:

I’ve just started working on my essays and I’m starting to second-guess my long-term goals. Are there any significant risks if your long-term goals are grand? Say, finding a treatment for AIDs or cancer, or, feeding the hungry in Africa?

ANSWER:

Wow, those are some big goals, dude. And some might say, unrealistic. Now, I don’t want to say that, because who am I to tell you that you won’t find a cure for cancer or feed the hungry in Africa? Gosh, I don’t even know you.

But… they’re a bit unrealistic. And as inspired and inspiring as those goals are, they aren’t going to cut it on your MBA application.

Here’s the deal: business schools are businesses. And businesses aim to make money. And business schools make money from alumni who go on to do great things and donate money, while also giving them a great success statistic to list on their site and lure in new students.

What all that means is that the schools are looking for students who are…well, going to go on and do great things. And while finding a treatment for AIDS is indeed a great thing (who’s gonna argue with that?!), it’s not the most realistic. And why would a school gamble on a guy with some huge (albeit, awesome) dreams, when they can accept the next guy who has a more realistic career path and the skills to get there?

See where I’m going here?

If your long-term goals are indeed to feed the hungry in Africa or rid the world of cancer, more power to you. The world can never have enough people like you. But for the sake of your application, dude, dial it back. Pick a long-term goal that is interesting and challenging, but still attainable.

Maybe that’s running a non-profit that raises money for cancer research. Or maybe it’s completely unrelated to those goals at all, and instead aligns quite nicely with whatever it is you’re doing now.

You don’t HAVE to do what you say you’re gonna do when you apply to b-school.  Getting in is a completely different game, and the way to win is to pick some career goals that make good, rational sense. Once you’re in, you can do whatever it is you want to do. But for the sake of GETTING in, I’d re-think those goals.

Make sense?

I hope so.

– Jon Frank