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

JonFrank

QUESTION:

[This question came to us from a friend on Quora.]

Why should I choose HBS over Stanford GSB?

ANSWER:

Great question, eh? First off, anyone who has to choose between these two world class programs… well, that’s a GREAT problem to have. In most respects, you really can’t go wrong.  But let’s say you DID have to choose. Why should you choose one over the other?

[Just a note: I hate to pick sides here (since we send so many folks to BOTH programs each year), but the question was asked and I am going to answer from my personal experience.]

That’s a problem I had to face. I was admitted to both Stanford GSB and HBS. I was enamored by Stanford’s weather, their study method, and their laid-back style.  But I chose HBS.

Why?  BRAND.

Now, call me a sell-out all you want, but here’s the deal: Here at , we do a TON of business in China. I spend a lot of time there, working with clients, holding seminars, etc. And had I gone to the GSB and not HBS, my own personal brand wouldn’t be as strong.  Of course, they know that Stanford is great (everyone knows Stanford is great), but HBS has more cache.  The HBS brand is second to none, and in business, brand is critical.  Maybe, just maybe, the most important thing. Especially as you make your way further and further away from the Bay Area, the US, etc.

At the end of the day, the HBS brand is unbeatable globally. Even GSB’ers will admit that Harvard is better known in many countries. Don’t get me wrong, arguable “reasons to choose the GSB” are aplenty: better education, better lifestyle, stronger alumni bonds, the list goes on.  But from a brand perspective, it is a no-brainer.

I know this is going to ruffle some feathers. I know many of you out there may not agree. But as I see from my personal experiences and from watching clients choose HBS over GSB every year, the HBS brand holds more weight.

And that, my friends, is why someone should choose HBS over GSB.

What would YOU choose?

– Jon Frank

JonFrank

QUESTION:
I also have a question about “fit.” When asked about “why this school” in an essay, what is the best way to answer? If I say about the name of the course and the name of the professor who teaches the course I like, would that be enough? How deep should I dig?

ANSWER:
Here’s the thing about explaining your fit at a school: it’s important. And one big mistake LOTS of applicants make is not digging deep enough. So, kudos to you for asking the right questions and being on the right track.

If I had a cookie, I’d give it to you

For the rest of you, I’m gonna say it again: explaining your fit at a school is verrrry important. Applying to business school is like dating. Sorta. (Just stay with me here… I’m going to make this happen.) When you’re trying to woo a partner, you have to make that person believe that you two are right for one another. And you need to show them the specific reasons why you should be together, and not with some other random people walking down the street.

You’re not gonna try to win that person over with “you’re standing there and I’m standing here, therefore we should be together.” That’s not going to work. Where’s the romance in that? And who ever fell for THAT line? Nope, you need a different approach. You need to get specific: talk about your common interests, your common goals… all the reasons you just fit perfectly together.

See where I’m going here?

You have to do the same thing with your b-school applications. You need to woo the adcom. You need to make him or her believe that you want this school over every other school. You need to show him or her why.  And you need to be very specific.

So, yes, mentioning a professor you’d like to study with is a great idea. And talking about some specific classes or student groups that you’d like to take advantage of is smart. Commenting on the school’s culture and how it aligns with your own beliefs/feelings/goals is also good. As is bringing up specific companies that recruit heavily at that specific program.

The more specific you get when talking about your fit, the better. At the end of the day, you want that adcom to read your application and KNOW that there is no better school for you than that one.

And sure, your fit may change from school to school. You may tell Wharton why you’ll flourish in a HUGE class, and then tell Tuck why you want the community focus of a smaller program. Doesn’t matter. When that Wharton guy is reading your essay, he needs to believe you’ll excel there. And then that Tuck guy is sitting down and digging into your app, he’ll need to believe the same thing.

So do your research, visit those campuses and find out what aspect of each SPECIFIC program fits you best and the SPECIFIC reasons why.

Hope that helps.

– Jon Frank

JonFrank

QUESTION:
I am from China and want to apply to business school. I saw that lots of schools are starting their applications now, and HBS has already released their questions. Is it better to apply as early as possible? Round 1 has better chance than Round 2?

ANSWER:
Yes, you are correct. You always want to apply as early as possible. And this is especially key for International applicants like you. You NEED to apply early in the process.

There are simply too many International folks out there (Chinese especially) looking to go to good programs.  And there are only so many spots to go around (and not many!) So YES, apply Round 1, apply Early Decision…anything at all that you can do to be considered early.

Not only will your chances be better, but you’ll also give yourself the opportunity to apply to different schools in later rounds should you not get accepted in Round 1. And, of course, if things in your life get busy and you don’t get to all those apps in Round 1, you’ll still have Round 2 to get the rest in.

Bottom line: the earlier the better, that’s for sure.

And now that schools are starting to release the essays, there’s no better time to get started than right now.

JonFrank

QUESTION:
I’m 21-years old and will be graduating from college in 2013 with a degree in Electrical Engineering. I know that one day I want to be a high-level manager in technology field, so I’ve started thinking about getting an MBA. Should I apply to business school, or should I apply to a different Master’s program?

ANSWER:
Ah, to be 21 again. Those were the days, am I right?

But let’s get to your question, man. So, you wanna be a manager one day, eh? Sounds like a good plan. And I think an MBA is a great idea for ya… just not yet. Typically, MBA programs like people with work experience. 4-5 years, is usually a good range. So if you want to increase your chances of getting in, you’re going to want to get out into the workforce for awhile and get some work (and, more importantly, leadership), experience.

Now, there are some programs out there that cater to younger applicants that you may want to look into. For example, HBS 2+2 and Yale Silver Scholars. But if you’re looking to apply for 2013, you’ve got your work cut out for ya. Those deadlines are gonna start hitting in September and October, which means you’re going to have to take the GMAT….erm… now. And CRUSH it. And once that’s done, there’s the actual applications to think about. And those come with their own laundry list of materials and requirements.

Not to mention, those programs are hiiiighly competitive. I don’t know much about ya so I am not saying you can’t compete – it’s just not going to be easy.

As for getting another Master’s first… do you think you need it? Or do you think you can get out there with your current degree and start working? If you ultimately want to go get your MBA one day (and one day soon), I wouldn’t recommend going back to school just yet. Work experience is going to be much more appealing (and important!) on an MBA application, so get out there and get some of that.

Look, you’re young. You’ve got a LOT of time ahead of you. Why rush into an MBA? Why not enjoy your last year of college (trust me, life is never gonna be that free again!), get out into the real world and get some experience under your belt and THEN apply? It won’t keep you from your goal of managing a tech team one day, and it will only help your chances of getting into a stellar MBA program down the road.

Hope that helps. Let us know what you decide!

– Jon Frank

JonFrank

[The following question came up after our recent webinar: Letters of Recommendation, 101.]

QUESTION:
I am applying for MBA programs this year and am trying to figure out who to reach out to for a recommendation. Is it OK to ask for a letter of recommendation from my boss with whom I worked 7-8 years back, or do I need a more recent supervisor?

ANSWER:
Great question. But before I answer it specifically, I want to make one very important point about LORs: always ask the person who knows you best. That’s the secret sauce. The magic formula, if you will. Don’t get swayed by the guy with the fancy title, thinking that’s gonna look more impressive in your application. If that guy doesn’t know you, getting an LOR from him will be as effective as getting one from the barista who serves up your morning Green Tea.

Do you want to know what impresses the adcom the most? The guy who talks about you and your experience passionately. The guy who wants you to succeed, who will go to bat for you, and who shows that with specific examples and powerful language in his letter. So even if you’ve got the choice between, say, Michael Dell or your direct supervisor who’s seen you work and knows what you’re made of to write you that LOR… yup, go for the supervisor. Every single time.

Now, what if the guy who knows you best was your boss back in 2004? Well, sure. If he’s the best guy you’ve got, why not? But let me warn you: if you have to go back 7-8 years to find someone who’s willing to go to bat for you, you’re doing something wrong.

Is there no one you’ve worked with more recently that can write you a recommendation? Not one person? Because that’s gonna raise some flags for the adcom. “Why doesn’t this guy have a more recent boss to sing his praises? What’s he been doing since 2004?!”

See what I’m saying?

I’d say the old boss is a great option for a second LOR, but if you can, let’s find someone a little…fresher to vouch for ya.  And if you can’t (if, say, you don’t want your current job to know you’re heading back to school), then, yes, go with the old boss. But you’re going to want to explain that choice in your optional essay.

Good luck,

– Jon Frank

JonFrank

QUESTION:
I’ve heard you say that International experience is very important for International applicants. How can we best highlight that experience without making it appear like laundry a list? Any tips about how to (or whether to) highlight my international travel experiences where I’ve met people from different backgrounds, learned from their wisdom and learned to appreciate diversity?

ANSWER:
Yup, it’s true. International experience is very important on an MBA application for International applicants. Why? Because the adcom needs to see that you’re going to be OK here in the US for the next 1-2 years (or longer). They need to feel comfortable about you adapting to the culture of the school and working with the diverse student body.  And for that, you need to prove to them that you’ve interacted with people that are not like you, and experienced things outside of your hometown.

So you gotta maximize your international experience in your apps, whatever it may be.

Which brings us back to your question: how do we do that without it sounding like some list? And what should and should not be included?

Here’s a good place to start:

What is it you want to get out of this specific essay? What do you want THE ADCOM to get out of it? What are the top 3 or 4 things that you have accomplished that say “these make me diverse and unique, and relate directly to both my short- and long-term goals”?

Write out your list. Then decide WHICH of those 3 or 4 experiences applies to getting into b-school (meaning, which is going to be the most impressive, which is going to make the most sense for that specific school, and which is going to tie most closely to your goals). That will funnel things down. From there, you’ll choose the best experience and dig into THAT one in your essay.

The key here is this: focus on the few things that really make you stand out and not the laundry list. It’s quality over quantity, friends. Having 15 different (yet shallow) international experiences in your application is going to do nothing for you. But having one really great one that lends itself to your long-term goals and also gives the adcom what they want… that’s the golden ticket.

So sit down and give it some thought, narrow it down, and there’s your answer.

– Jon Frank

JonFrank

QUESTION:
I’m 32 years old and I want to attend a full-time MBA program. I know full well that my age could be an issue, but I want that full-time MBA experience, so I’m going to go for it. What schools out there are more open to older applicants?

ANSWER:
I hear you, dude. There’s nothing quite like the b-school experience, and a lot of that has to do with the culture and experience of just being there, outside the classroom. So you shouldn’t have to give that up just because it took you a few extra years to come up with a career plan.

And, yeah, your age could be a bump in the road for you, but it’s not the end all, be all. When I was at HBS, there was a 35-year-old woman in my section. And there are older students in every section, at every school. It’s just not the norm; most b-school students are in the 26-29 range, so anything outside of that becomes “an obstacle.”

The key is proving to the adcom that you’re not lazy (“gosh, why’d it take Joe Smith so long to figure out what he wanted to do with his life?”), that you’re not stuck in a dead-end career (“Oh no, it’s almost too late for him to make a go at it”), and that you will roll up your sleeves in dig in.

But let’s get to what you really asked: which schools are more open to older applicants? Look, it changes every year (this year, schools are swinging younger, but next year, they could go in the other direction…) but right now, this is what I know:

Open to older applicants:

Wharton
Ross
Duke
Tuck
CBS
European programs

Like ‘em young:

HBS
Stanford
Yale

Again, nothing is set in stone and you could have a shot anywhere, if you play your cards right and present a smart application.  But you asked the question, so that’s my answer : )

Good luck out there,
Jon Frank

JonFrank

Still not sure if an MBA is a good investment? Around here, we always think an MBA is worth it’s weight in tuition costs, but we get it – the economy’s seen better days and the job market isn’t what it used to be.

But it looks like it might be coming back, folks.

The GMAC is reporting that current MBA graduates are entering a better job market this year than did last year’s graduates. According to the Global Management Education Graduate Survey, based on responses from over 5,000 recently graduated or soon-to-graduate students from 136 MBA programs across the globe, the percentage of recent graduates receiving employment offers increased from 54% in 2011 to 62%. Another survey shows that 79% of corporate recruiters are expecting to hire new MBA graduates this year, an increase from 2011’s 72% hiring figure. When coupled with the 4% increase of overall employer hiring expectations this year, students emerging from MBA schools this year should have better chances of finding a job.

Especially if they want to find a job in Asia. Not much of a surprise here, but to keep up with their massive global expansion plans, Asia-Pacific companies are chomping at the bit to snatch up MBAs, and doing so at a higher rate than their US and European counterparts.

So, what does this mean for recent MBA graduates? It means you can breathe a sigh of relief. Sure, it’s still a competitive market, but as the global business environment improves, the job opportunities for MBAs should be plentiful.

Jon Frank

yoshimihoku

I can prove that, according to my internship searching experience

JonFrank

It’s that time of year again, folks.
The bschool applications, deadlines, application tips, standardized tests, and stress.  LOTS of stress.  But there are PLENTY of resources to bring the stress level down. Maybe it seems like you’re getting more information than you need (or can handle), but the truth is that you can never be too informed when it comes to getting admitted into the MBA program of your dreams. Keeping up with the program’s offerings, the administrative staff, and the latest updates to the application process is absolutely essential to your success… and just might give you an edge over the other applicants.
These days, staying connected with your bschool targets has become easier than ever thanks to the INTERNET. The adcoms are all sharing news, updates, and even advice on their blogs and social media handles, making those RICH resources for info.  If you don’t mine it, you miss it.  And to make it even easier for you to take advantage of these resources, we’ve aggregated the blogs and Twitter handles for some of the top 50 MBA programs in the U.S.
Simply add the following blogs to your RSS Feed or Google Reader, or follow your bschool on Twitter to stay on top of it all.  Here it goes…
Harvard
Admissions Blog: http://www.hbs.edu/mba/admissions/blog.html
Twitter: @Harvard
Stanford
Admissions Blog: http://www.stanford.edu/group/mba/blog/
Twitter: @Stanford
MIT Sloan
Community Blog: http://mitsloanblog.typepad.com/
Twitter: @MITSloan
Northwestern Kellogg
Admissions Blog: http://www.kellogg.northwestern.edu/programs/fulltimemba/applying/admissions_blog.aspx
Twitter: @KelloggSchool
Chicago Booth
Admissions Blog: http://blogs.chicagobooth.edu/boothinsider/
Twitter: @Booth_Insider
Wharton
Admissions Blog: http://engage.wharton.upenn.edu/MBA/blogs/mbaadmissions_blog/default.aspx
Twitter: @Wharton
Dartmouth Tuck
Admissions Blog: http://tuckschool.blogspot.com/
Twitter: @TuckSchool
Berkeley Haas
Admissions Blog: http://berkeleyhaasmba.wordpress.com/
Twitter: @UCBerkeley_Haas
Columbia Business School
Blog: http://www4.gsb.columbia.edu/publicoffering
Twitter: @Columbia_Biz
NYU Stern
Admissions Podcasts: http://itunes.apple.com/us/podcast/nyu-stern-mba-admissions/id341554864
Twitter: @NYUStern
Yale SOM
Community Blog: http://blogs.som.yale.edu/
Twitter: @YaleSOM
Michigan Ross
Admissions Blog: http://rossblogs.typepad.com/admissions/
Twitter: @MichiganRoss
Virginia Darden
Admissions Blog: http://blogs.darden.virginia.edu/admissions/
Twitter: @DardenMBA
Duke Fuqua
MBA Student Blog: http://blogs.fuqua.duke.edu/duke-mba/#.T-ON0ZgXm6E
Twitter: @DukeFuqua
UCLA Anderson
Admissions Blog: http://mbablogs.anderson.ucla.edu/
Twitter: @UCLAanderson
Carnegie Mellon Tepper
Twitter: @TepperCMU
UT Austin McCombs
Admissions Blog: http://blogs.mccombs.utexas.edu/mpa-admissions/
Twitter: @UTexasMcCombs
Cornell Johnson
Admissions Blog: http://www.johnson.cornell.edu/Academic-Programs/Full-Time-MBA/Admissions/Admissions-Blog.aspx
Twitter: @JohnsonSchool
Washington University Olin
Admissions Blog: http://blogs.olin.edu/olinformer/
Twitter: @WUSTLbusiness
USC Marshall
Twitter: @USCMarshall
OSU Fisher
Admissions Blog: https://fisher.osu.edu/blogs/emba/
Twitter: @FisherOSU_MBA
UNC Kenan-Flagler
Community Blog: http://blogs.kenan-flagler.unc.edu/mba/
Twitter: @KenanFlagler
Indiana Kelley
Admissions Blog: http://kelleymbaadmissions.blogspot.com/
Twitter: @IUKelleyMBA
Georgetown McDonough
Community Blogs: http://msb.georgetown.edu/mba/students/blogs/
Director’s Tips: http://www.businessweek.com/bschools/mbapremium/sep2008/bs2008092_581196.htm
Twitter: @msbgu
University of Minnesota Carlson
Admissions Blog: http://blog.lib.umn.edu/csomweb/carlsonmba/
Twitter: @CarlsonMBA
Georgia Institute of Technology
Admissions Blog: http://gatechadmissions.blogspot.com/
Twitter: @georgiatechbsch
Emory Goizueta
Goizueta Blog: https://newsroom.goizueta.emory.edu/gnr/
Twitter: @EmoryGoizueta
Rice Jones
Twitter: @ricemba
Notre Dame Mendoza
Twitter: @NDBusiness
UW Madison
Twitter: @UWBusiness
Vanderbilt Owen
Twitter: @VanderbiltOwen
Arizona State Carey
Twitter: @WPCareySchool
Texas A&M Mays
Twitter: @maysbusiness
Brigham Young Marriott
Twitter: @marriottschool
U Washington Foster
Twitter: @FosterMBA
UC Davis
Twitter: @ucdavis
Boston College Carroll
Twitter: @BCCarrollMBA
Boston University
Twitter: @BUManagement
U Illinois Urbana-Champaign
Twitter: @uiucbusiness
U Rochester Simon
Twitter: @SimonSchool
UT Dallas
Twitter: @UTDallasNews
Purdue Krannert
Twitter: @PurdueKrannert
Tulane Freeman
Twitter: @FreemanSchool
Michigan State Broad
Twitter: @MSU_MBA
Penn State Smeal
Twitter: @SmealCollege
U Maryland Smith
Twitter: @SmithSchool
UC Irvine Merage
Twitter: @UCIrvine_MBA
U Iowa Tippie
Twitter: @TippieIowa
U Arkansas Walton
Twitter: @uawaltoncollege