International MBA Career Guide by IMS Publications

Global Reach. Innovative Programs. Diverse Perspectives.

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The Schulich MBA in India. Your access to the world. The Schulich MBA in India*, now in its second year, is global, integrated and relevant. Schulich is a true transnational business school whose faculty will deliver your classes in two countries: Year 1 in Mumbai, India, at the renowned S.P. Jain Institute of Management and Research, and Year 2 in Toronto, Canada, at the Schulich School of Business, ranked #1 in Canada and among the world’s top 10 business schools. Start in January 2012 and be part of the program’s third cohort. In Year 1, you’ll master general management fundamentals, skills, and perspectives. In Year 2, you’ll select courses from 18 specialized areas. You’ll also gain hands-on experience and a competitive edge with the MBA program’s six-month strategic consulting project working with real-world clients and generating value for them. *AICTE approved

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Address For Correspondence: Advanc’edge MBA, IMS Publications, A division of IMS Learning Resources Pvt. Ltd., 1/45, Tardeo A.C. Market, Tardeo, Mumbai - 400 034.

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Preface There are books and there are more books and well….there are even more books.The deluge of information is sometimes as much a curse as the dearth of information. There is more labour spent in sifting and sorting the right material than in reading the material so diligently obtained. So popular and so competitive is the MBA course that information in this segment seems to be spilling form all sides. Doing your management studies from a reputed institute abroad enhances your job prospects to a large extent. An MBA from a top-rung B-school will certainly work to your advantage in the global job market and subsequently a quick climb up the corporate ladder. Studying in the top business schools gives students an international exposure, provides them with a flying start and hones their skills which help them become business leaders. What we offer to you here is a tool.You may read this book at one go or keep it as a companion through various stages of your post-graduate learning. Right from tackling the entrance tests, to choosing the course that suits your personality, to managing your purse efficiently to enroll into a B-school, to career options available. We have also interviewed experts from the education field and students studying in top universities so as to provide you with invaluable guidance for your future. This is not just a book; it is intended to be a faithful guide and companion throughout the various stages of your preparation for a truly worthwhile educational experience. From enlightening you about the basics of management degrees- the rationale and the process, the stages and techniques of preparations, the career prospects, and the ancillary issues surrounding MBA education- to bringing you valuable inputs and advice from leading international experts, this ready compendium does it all. We hope that it proves to be of invaluable assistance as you script your journey towards your dream career. Happy reading and all the best, always….

Editor

THE MBA CAREER GUIDE In Focus ....................................

Experts Speak .........................

An International MBA: Your Swipe Card to a

Alison Davis – Blake, Dean, University of

World of Opportunities .......................................... 09

Michigan,Ann Arbor, Stephen M. Ross School

Masters v/s MBA :

of Management. .................................................... 73

8 Aspects to Consider ........................................... 14

Study Hour .............................. Tests to Crack for an MBA Abroad ....................... 19 The GMAT® .......................................................... 19 The GRE®.............................................................. 22 The TOEFL® .......................................................... 24 The IELTS (Academic) ........................................... 25

Manager at the Association of MBA & Sharon Bamford - Chief Executive, Association of MBA .............................................. 75 Oliver Ashby - Business Development Manager, London Business School........................................ 77 Joanne Yates - Deputy Deanand Sloan Distinguished Professor of Management .............. 78 Niki da Silva - Director, MBA Admissions and

Application Basics .................. Time to Get Net Savvy.......................................... 28 Shortlisting Schools:

Recruiting, Richard Ivey School of Business at The University of Western Ontario. .................. 80

Basics to Choosing the Right Fit ........................... 29

View Point ...............................

Admission Essays: Your story in your words ......... 33

Ms Christiane Schlottmann, Director, DAAD ........ 83

MBA application essays ........................................ 38

Patrizia Marchegiani, Special Advisor, Danish

How to write a Statement of Purpose .................. 41

Agency for International Education .......................84

Letters of Recommendation (LOR): Do’s and Don’ts .....................................................44 Résumé: An Overview ........................................... 47 Admitted! ..............................................................48 Interviews:

Amita Patel, Education Promotion Ofﬁcer, NBSO -Neso Desk India ......................................... 85 Marina Gandhi, Head, Education UK, East India, British Council....................................................... 86

An Opportunity to Project the Real ‘You’ .............. 50

Region Focus ...........................

Student Speak ......................... “The most important thing is to be

The Destination Dilemma ...................................... 55

honest to self, regarding the reasons one

The Dynamics of Financing International MBA .....60

wants the second MBA.” ...................................... 88

Student Visas........................................................ 65

“HEC MBA honed my existing skills, helped

THE MBA CAREER GUIDE

inside

Pearsons Test of English (PTE) Academic ............. 26

Mark Stoddard - Accreditation Projects

THE MBA CAREER GUIDE me cultivate new skills, boosted my conﬁdence

Judge Business School,

and gave me a holistic knowledge about the

University of Cambridge...................................... 108

business world”. .................................................90

Kellogg School of Management,

“The MBA journey starts with the promise of a fast career progression but goes on to touch you on all accounts, developing you professionally as well as personally.” .................92 “In my opinion, the best education is the one where one learns about one’s own weaknesses” 94

Northwestern University..................................... 109 Leonard N.Stern School of Business, New York University ........................................... 110 London Business School .......................................111 Melbourne Business School, The University of Melbourne ............................... 112 Michigan Ross School of Business,

inside

The University of Michigan ................................. 113

B-school Profi les ................... Australian School of Business, The University of New South Wales ...................97 Booth Business School The University of Chicago ..........................................................98 China Europe International Business School .......99 Crainfi eld School of Management, Crainfi eld University .........................................100 Darden School of Business, University of Virginia ........................................101 Haas School of Business, University of California, Berkeley ........................................102 Harvard Business School, Harvard University ...103 HEC School of Management, Paris ....................104 Henry B. Tippie School of Management, The University of Iowa .....................................105 IESE Business School, University of Navarra ....106 Insead Business School ....................................107

MIT Sloan School of Management ...................... 114 Nanyang Business School, Nayang Technological University ........................ 115 NUS Business School, National University of Singapore ........................ 116 Olin Business School, Washington University ........................................ 117 Rotterdam School of Management, Erasmus University ............................................. 118 Saïd Business School, University of Oxford ........ 119 SDA Bocconi School of Management .................. 120 Stanford Graduate School of Business, Stanford University............................................. 121 Tepper School of Business, Carnegie Mellon University ................................. 122 Tuck School of Business at Dartmouth, USA ...... 123 Wharton Business School, University of Pennsylvania.................................. 124

THE MBA CAREER GUIDE

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In Focus

An International MBA: Your Swipe Card to a World of Opportunities Gauri Puranik

t was 9.00 a.m. when the fresh batch of MBA students walked in for their Orientation at the IESE Spain, Madrid campus. An Indian engineering student with 3 years of work experience in the IT sector was a part of the orientation programme. He looked for a seat among the Indian group but the auditorium was full. He managed to find a seat between a Japanese and a German student. “Guten Morgen!” the German said out of habit and immediately corrected himself and greeted the Indian student in English. The Japanese student also exchanged pleasantries. Within the next ten minutes, the Indian student learnt that the Japanese student was a screenwriter for Japanese films, while the German student was part of the team that researched on improvising the design and features of luxury cars at Volkswagen. By dinner, the three ‘new friends’ were searching a Japanese restaurant to have good Sushi and learn more about each other’s countries, cultures and work environments. The Indian student was all smiles: he had chosen a school that was truly ‘international’. What is an International MBA An International MBA is not just about crossing borders to study in another country. An international MBA has more to do with the nature of the programme rather than the geographical location of the school. A true international school is based on three factors as mentioned in Figure 1. A typical example is the INSEAD MBA programme. The INSEAD MBA class is made up of students from over 80 nationalities having dozens of language backgrounds. No single nationality represents more than 10% of the class. The MBA Career Guide

In Focus

For a programme to have a good international quotient there should be an international ﬁber in its student body, its faculty and its curriculum. Most good B-schools around the world ensure that their MBA class has a more or less equal representation of students from all nationalities and backgrounds. They also ensure that the faculty who teach students have wide international exposure and can teach a diverse class mix. The curriculum and the pedagogy should also be international in nature and include topics that teach students about business basics across regions and continents, that is, not just local but international case studies. The schools should host expert speakers from all over the world.

More than 30% of the class comes from “non-traditional” MBA backgrounds such as science, law and the arts. The mix of cultures is thus matched by a mix of educational and professional backgrounds. With campus locations in Europe and Asia, and the resulting exchange of students between these campuses, the INSEAD students are wired to the latest happenings around the world

The curriculum at INSEAD does not just concentrate on the European markets but goes beyond that by offering students electives like ‘Building Business in India’, ‘China Strategy’ and a ﬁeld study of Brazil and Emerging Multinationals. Students are divided into groups such that not more than two students of the same nationality are in the same group. Each contact point with a diversity factor in your MBA programme enriches your experience and your perception. If

you have a programme that gives you this, then it can be identiﬁed as a true international MBA programme. Matt Judkins, London Business School MBA 2007 says “One of the fantastic things about London Business School is the unique environment you ﬁnd yourself in. With such a wide range of nationalities, group work can be very interesting (we had 57 different nationalities represented in our class!) It is a challenging but very rewarding experience. The diversity also means the opportunities available here

The MBA Career Guide

RANKED

TOP 1%

IN THE WORLD The Economist

UQ BUSINESS SCHOOL Step up to the more recognised MBA

To find out more contact UQ Business School Call +61 7 3346 8100 Email mba@business.uq.edu.au Visit business.uq.edu.au/mba

In Focus

are amazing - trips include the annual School ski jaunt to the Alps, the rugby tour to Argentina, sailing trips in the Caribbean and the MBA Olympics in France, to name just a few.” (Source: www.london.edu) Benefits of an International MBA The benefits of an MBA lie in its flexibility to either widen your business knowledge or focus on a particular function say, finance. Breaking down an international MBA to its core reveals three important principles: educational value, global perspective and increasing access to opportunity. The Educational Quotient The intangible educational value of an international MBA is evident from the rich knowledge base that you carry with you after your MBA. This knowledge base is a culmination of the experiences that you share with your classmates, the constructive arguments that you have with your faculty and professors and the motivational and pep talks that are delivered to you by some of the best stalwarts in corporate and academia. An

The 215 students at IESE Spain come from 48 nationalities. 80% of the students are international. Western Europe 41% Asia 19% North America 17% Latin America 13% Eastern Europe 5% Rest of the World 7% The countries most represented were Brazil, Chile, Germany, India, Japan, Spain, UK, USA. Previous Work Experience Marketing/ Sales 20% Consulting 19% Finance 18% Operations 14% Project Management 7% Others 6% Planning and Accounting 3% international MBA goes much beyond the classroom and concentrates on infusing a student with positivity to take on the world. An MBA by itself doesn’t amount to much, but assumes greater relevance when coupled with past experience and future potentiality. Increases the Bandwidth of your Job Opportunities An international MBA increases your long term potential through the development of skills, to remain marketable and competitive; to increase the chances of a promotion; to change current occupational area to a new one, to switch industries; to expand the number of organizations for employment; to pursue the goal of starting your own business; to make a transition from a non-business undergraduate degree; to seek international employment.

Most international business schools place a high value on diversity. They have come to believe that a class comprised of mixed nationalities and job backgrounds enhances the learning process significantly by bringing in varied perspectives to the classroom. The way a student with a finance background analyses a situation will be quite different from the way a student with a social studies background does. And if these two individuals come from two different countries then their thinking process is again influenced by their entrenched cultural make-up, again adding to the diversity of the classroom interactions. Both perspectives are valuable since the former reflects the business view and the latter reflects the human and cultural view. Remember, learning at a B-school is not restricted to interactions between student and professor. You learn from each other as well. Global Perspective Employers today look to put together people with multiple and diverse backgrounds - not just academic background, but those who come from different places and professions. You may not have a finance undergraduate background but one from engineering or history or literature. But if you are top-ofthe-line, fairly international, can probably operate in more than one environment with a mixture of people from different cultures, you have a competitive edge you can leverage. Companies today hope that this group of diverse, bright people with a kaleidoscopic view of looking at things will produce better ideas and better approaches to find solutions for clients. And that’s why companies don’t care which country you come from. They want to be sure that you can, at the same time, operate in Europe, in the Americas or operate with colleagues in Asia and Australia. An international MBA acts as a sort of endorsement of such capabilities. MCG The MBA Career Guide

In Focus

Masters v/s MBA:

8 Aspects to Consider

any students compromise and go to a poor quality B-school only because they will have the ‘MBA’ tag to suffix their names. The sheer popularity of the MBA programme as a ticket to a good career leaves little consideration for other study options in management viz. the Masters Programmes in Management. The general verdict is that the Masters degree is academic in nature while an MBA is an ‘action’ degree that has a practical edge. There are 8 key aspects to consider while choosing between an MBA or a Masters in Management degree.

salaries. And lastly, both programmes will pave the way to Doctoral studies, if you wish to pursue these in future.

The Similarities Firstly, both are ‘masters level’ programmes and thus have an element of maturity in them. Secondly, both programmes expose you to the corporate world through projects and industry interaction. Thirdly, both programmes definitely catapult your take home

Your Current Role and your Career Goals People generally study management to fill the hiatus in their business knowledge, skills and acumen. Be clear of where you wish to go in the future, career wise. Choose a programme which will equip you with pertinent knowledge

“

and skills to achieve your career goals. For example, if you wish to make a career in financial planning, besides an MBA you can also consider the MSc in Finance and Private Equity programme at the London School of Economics. The program has a rigorous curriculum that studies in detail major financial decisions including dividend choice, going public, mergers and acquisitions, and restructuring in financial distress. Work Experience Typically MBA Programmes focus on leadership potential and therefore appreciate students with work experience. Masters Programmes are short one year pre-experience programmes and are designed for candidates with little or no work experience. If you have had some background in commerce or management in the past, have less than 2 years of work experience and only need that

“Management was a part of my upbringing because of my family business in manufacturing. Since I was already familiar with the basic tenets of management, I needed to understand concepts related to sales, pricing, product life cycle and client needs in depth. The Masters Programme in Marketing at Leicester made perfect sense as it helped me learn the requisite skills. Moreover I was able to return to my business in a year. The business would have definitely suffered had I taken a longer break and the entire purpose of my study would be lost.”

Vaibhavi Patil, MS in Marketing from University of Leicester, on choosing a Masters Programme instead of a Typical MBA Programme.

The MBA Career Guide

In Focus

technical understanding of a particular subject then a Masters Programme will be a better option for you. Importance of the Right School While timing is crucial, the place where you do your Masters is also important. For example, a Masters in Marketing from Kellogg School of Management which has tie ups with Universities across the World will any day hold more ground than an MBA from some unknown university.

At Washington University’s Olin Business School, and many other business schools the MBA curriculum overlaps the Masters in Finance curriculum and the same faculty also teach common subjects in both classes. The MS Finance students exclusively learn intensive courses in finance, financial modeling or in the quantitative methodology that supports financial modeling.

graduate is able to draw a USD 100000 p.a. package post MBA, whereas, a specialty Masters graduate gets an average of USD 65000 p.a. However, the investment in a Masters Programme is half that of the MBA programme, thus almost equaling the ratios of earnings to investment for both the programmes.

Double Degree Options For those, who want this double qualification without the waiting period in between, some schools offer the Specialised Masters Programmes option of a Dual Degree Programme. Some schools have created a niche for For example, the Boston College’s themselves through their specialized Carroll School of Management offers Masters programmes. A few of these studying across the disciplines and a dual degree programme in which are the Sloan Fellows Masters program learning to integrate them. An MBA students have the option of combining at MIT Sloan School of Management and programme gives an individual access to a a Masters in Finance/ Accounting with the Masters in Public Policy at the Heller diversified network of individuals who are the MBA Programme. Such dual degrees School for Social Policy and Management. all focused on leadership. The learning ensure that students have the depth of These programmes are one of a kind perspective is thus broader. knowledge that a Masters degree brings and cannot be compared to an MBA along with the breadth of knowledge that programme. While the content of such Return on Investment an MBA can impart. programmes is meticulously designed to Average salaries post-MBA are higher as While choosing between a Specialty cater to specific needs of students, the most students join an MBA programme Masters and an MBA Programme, you participants of such programmes are also after 4-5 years of work experience, which might want to consider the 5 Ps of the individuals with a specific mission. is not the case with Masters programmes. Marketing Mix: This is however, misleading. A better The Product – The MBA or the MS ‘Subject’ Focus v/s ‘Management’ indicator in this regard would be your degree, its content, benefits relative to Focus Return on Investment. An average MBA your current profile & credibility; A traditional MBA programme exposes a The Price – the cost of your programme student to a wide spectrum and your subsequent return “The Masters in Management at Duke Fuqua provides of management disciplines on investment; the necessary know-how to leverage your existing while a Masters programme The Place – the school from capabilities, and will help you jump start a career in in Management has rigorous which you will attain your business. However, the learning that occurs in an subject focus. In a Masters degree and its brand value; MBA program is not limited to what is delivered by programme, the whole Promotion – how the school the faculty, but rather the discussion that the subject package is based around communicates with you, matter generates in the classroom. Our MBA students a narrowly-defined career the media, the business come from a variety of backgrounds, functions and and job path. In an MBA community and society; and industries, and sharing their experiences is what program, the majority of People – your peer group, the promotes learning in the classroom. For the MBA the coursework is across alumni and the faculty at the programme, you need to gain the experiences that will the various dimensions of school. At the end of the day, enable you to add value to the classroom.” business (marketing, finance, it is not about just the MBA operations etc.) The idea Anne-Caitlin Procopio from the Office of Admissions at the Duke or the MS tag, but about is to broaden the general University’s Fuqua School of Business points out the perks of an making a choice that is right management aspects by MBA programme for YOU. MCG 16

“

The MBA Career Guide

La Trobe University – your path to career success La Trobe University is one of Australia’s leading universities with an international reputation for academic excellence and innovation. Recent achievements: • In 2011, our MBA was the first in Australia to receive EPAS Accreditation. • Research in biochemistry and cell biology at La Trobe was rated above world standard in the 2010 Excellence in Research for Australia (ERA) report. • In the 2009 Sweeney Research Student Report we were ranked as the leading Victorian University for student satisfaction. Range of courses La Trobe University offers more than 450 undergraduate, postgraduate and research programs. You can choose to study in the following fields: • • • •

Finance Accounting Business Administration (MBA) Marketing

• Engineering • IT • Biotechnology • Public Health

• Health Administration • Primary and secondary teaching • Plus many more

latrobe.edu.au/international

CRICOS Provider 00115M

Visit our website for more information.

Study Hour

Tests to Crack for an MBA Abroad The GMAT® What does it test? GMAT® is a standardized test which tests one’s mathematical, verbal and analytical skills. The test is computer adaptive. Thus there exists a data bank of questions ranging in difficulty level. Each multiplechoice section of the exam usually begins with a question of medium level of difficulty. The difficulty level of the next question is determined by the answer given by a candidate to the latest question. So with each question that one answers correctly, he would move on to a more difficult question in the next attempt. In case of an incorrect answer, the difficulty level goes down. Over the length of the test, the candidate gets a scaled score depending on the number of questions that he answered correctly and the difficulty level of the questions that he attempted. You cannot skip a question or go back to the previous question.

Section Analytical Writing Assessment (AWA) Quantitative Section

Verbal Ability Section

The MBA Career Guide

Number of Time Limit Questions 2 topics 60 minutes 37

75 minutes

Who Administers the GMAT? The GMAT® is administered by Pearson VUE across the globe. ACT Inc. develops and reviews the test questions from time to time while Pearson VUE delivers the test. The test is owned by the Graduate Management Admission Council better known as GMAC. The GMAT® is used by more than 4,650 programmes offered in 1900 institutions. In 2009, more than 2,64,000 MBA aspirants took the GMAT® exam in more than 81 countries.

Structure Type of Questions Two writing topics: one which analyses the candidate’s ability to analyse an issue and another which assesses his ability to analyse an argument. The focus areas in this section are Problem Solving and Data Sufficiency. The Problem-solving questions present multiple-choice problems in arithmetic, basic algebra, and elementary geometry. Data Sufficiency tests the quantitative reasoning ability of the test taker using an unusual set of directions. The test taker attempts three types of questions: sentence correction, critical reasoning and reading comprehension. Sentence correction tests the candidate’s knowledge in American English grammar, usage, and style. Critical reasoning tests logical thinking, ability to draw logical conclusions from an argument presented etc. ReadingComprehension presents a passage based on which certain questions need to be answered. 19

Study Hour

Scores AWA Section………………..Score ranges between 0 to 6 Verbal Section………………0 to 60 points Math Section………………..0 to 60 points Overall Score ranges between 400 to 800 points. Test takers are also given a ranking in the form of percentiles. GMAT scores are valid up to five years.

Registration Students can register online on the site www.mba.com The GMAT costs US$250 globally. One can attempt the GMAT for a maximum of five times in a year and once in a month. The GMAT is conducted six times a week and 52 weeks in a year.

What’s new? GMAC is now in the process of including new innovative methods and technology for its Next Generation GMAT. The process is slated for completion by 2012. The new and improved GMAT will test a few new skills applicable to both traditional MBA and new business programmes. In order to develop these improvisations in the GMAT, GMAC is in the process of carrying out a study in three phases over the next five years. The three phases would include skills research, pilot testing, and operational readiness.

746 faculty from leading business schools have contributed to research that is responsible for the new GMAT format. It has been found that candidates are good in independent areas (like quantitative data, verbal skills, reasoning skills etc.) but are not good at integrating these skills. Thus in the new GMAT to be administered in 2012, one AWA section will be dropped and the 30 minutes of time saved will be dedicated to a new Integrated Reasoning Section. This section will have special auditory and drop down options. Ashish Bharadwaj, the Regional Manager, Asia of the Graduate Management Admission Council (GMAC) on the Next Generation GMAT

“

Students who have scored a 700+ on the GMAT have a mean study time of 99 hours. Also statistically a 30 point increase has been observed in case of students who retake the GMAT. All over the world the mean GMAT score is 538.5 – as quoted by Ashish Bharadwaj, Regional Manager, Asia of the Graduate Management Admission Council (GMAC) in the MBA Tour, September 2010

”

The GMAT philosophy is different from that of most other entrance exams administered across the world. For over 35 years GMAC has been doing a GMAT Score Validity study that studies the correlation between the GMAT scores and the candidate’s performance in B-school. Thus, the GMAT is not used as a filtering mechanism but is rather there to test the student’s skills and his readiness for B-school education

The MBA Career Guide

Study Hour

The GRE® Who Administers the Test? The Graduate Record Examination (GRE) is administered by Educational Testing Services. Traditionally the GRE was considered an entrance test required for Masters Programmes, mostly non-business programmes like engineering, science, and architecture in the US and across the world. However, of late more and more business schools have started accepting GRE scores for admission to their programmes. Currently, more than 360 B-schools around the world accept the GRE. Increasing number of B-schools are expected to admit students with GRE scores in the future.

Section Analytical Writing

Structure Number of Time Limit Questions 2 topics Issue topic: 45 minutes Argument Topic: 30 minutes

Type of Questions

Quantitative Reasoning

45 minutes

Unscored Section Research Section

Varies

The Issue Topic consists of two options and the student has to choose one. The Argument topic consists of one topic only. This section measures reading comprehension and verbal and analogical reasoning skills in a multiple-choice format.. This section measures the test taker’s ability to understand basic concepts of arithmetic, algebra, geometry and data analysis; reason quantitatively and solve problems in a quantitative setting. --

Varies

Verbal Reasoning

30 minutes

What does the GRE test? The Graduate Record Examination (GRE) evaluates a students’ readiness for graduate level study. The GRE measures a student’s verbal reasoning, quantitative reasoning, critical thinking and analytical writing skills.

Registration The Test can be registered online, via mail, telephone or by fax. Students can visit www.ets.org to register for the test online. In case students wish to register by phone, they need to call up the Regional Registration Centre. In case students register by fax or by mail they have to fill the International Test Scheduling Form and fax/mail to the Regional Registration Centre. The test cost is USD 190. Changes in the Test: Highlights • Questions like antonyms and analogies have been removed. Instead of these there are new text and sentence completion questions. • There will also be new Sentence Equivalence questions in which the student has to find two choices (out of 6 choices) that lead to a complete, coherent sentence while producing sentences that mean the same thing. • More emphasis on reading comprehension questions as such comprehension skills are important in business education. • The new Quantitative section has questions with more than one correct answer option. • There is also a set of new numeric entry questions, where students key in the correct answers in a matrix or a box instead of marking answer options. • New scoring scale for both sections will be 130-170 with one point increment. • An online calculator will be available for students • The new interface is student friendly. Students are able to tag questions so that they can skip these and come back and answer them later. • While students are within the section they can also edit their answer options.

New Scoring Scales AWA Section Score……………….0 to 6 Verbal Reasoning Section……….130 to 170 in 1 point increment Quantitative Reasoning Section…130 to 170 in 1 point increment 22

The MBA Career Guide

Study Hour

The TOEFL® Who Administers the TOEFL? The TOEFL test is conducted by Educational Testing Services (ETS) and is operated at testing centers by “Prometric,” a division of Thomson Learning. The TOEFL® score is accepted by more than 7,500 colleges, universities and licensing agencies in 165 countries including the top colleges and universities in the U.S., Canada, U.K., Australia and New Zealand. Aspirants can take the test from a choice of 4,500 centers present across the globe. The TOEFL test is usually administered in two formats - either as an Internet Based Test (iBT) or a Paper Based Test (PBT). The choice lies with the test taker depending on the location of the test centre. Structure and Pattern Section Listening Reading Speaking Writing

Test Structure (TOEFL iBT) Time Limit No. of Questions 60 – 90 minutes 34 – 51 questions 60 – 100 minutes 36 – 70 questions Break 10 minutes 20 minutes 6 tasks 50 minutes 2 tasks

Test Structure (TOEFL PBT) Section Time Limit No. of Questions Listening Comprehension 30-40 minutes 50 questions Structure and Written 25 minutes 40 questions Expression Reading Comprehension 55 minutes 50 questions Test of Written English 30 minutes 1 topic (TWE) Registration, Dates and Fee Interested individuals can apply online by logging on to www. ets.org; other updated information on availability of dates, test location, fees etc would also be available on the website. For an Internet based test in India the registration fee as of August 2009 [this should be made current] is US $165. Registrations can also be done via phone, mail, or in person by going to a TOEFL resource center (local currency can be paid). During online registration money transactions have to be made using a credit card.

What does the TOEFL Test? The TOEFL® assesses a candidate’s ability to read, listen, speak and write in English. The test tries to simulate the language used in academic environs. It is meant to adjudge how a person from a non-English speaking background would use these skills together in the university classroom.

Scores - TOEFL (iBT) The Score Report consists of four scaled scores ranging from 0 to 30 for each section. The overall scaled score ranges between 0 to 120. The Official Score Report also consists of feedback of the student’s performance level and the kind of tasks that you can do given your performance level. TOEFL scoring is done through both human raters and automated scoring methods. Human raters are especially used to ensure quality of ideas, content and form

Scores - TOEFL (PBT) For TOEFL PBT, students receive an overall score in the range of 310 to 677. The individual score ranges are Listening 3168; Structure and Written Expression 31-68 and Reading 31-67. The score of Test of Written English (TWE) is on a separate scale of 0-6. The TWE score is a part of the TOEFL PBT scores

“Students can also feel confident in the TOEFL test’s scoring processes, as our methods are fair and objective. The TOEFL test separates the testing and marking processes to ensure secure, unbiased and fair scores, and also involves multiple markers for each test taker, rather than depending on the opinion of one person. For example, the speaking section of the TOEFL test is marked by 3-6 different individuals, rather than by a single reviewer.” Rebecca Powell, Manager of External Relations for the TOEFL at ETS

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The IELTS (Academic) Who administers the IELTS? The International English Language Testing System( IELTS) (TM) is jointly managed by the University of Cambridge ESOL examinations, British Council and IDP Education, Australia. IELTS is recognized by more than 6000 institutions across 130 countries in the world. Over 1.4 million candidates take the test each year. There are 500 test locations for the IELTS. The test is recognized by universities and employers in several countries, primarily the UK, Australia, Canada, New Zealand and the USA . Test takers can choose between two formats of the IELTS, one being the “academic training” and the other “general training”. For those who wish to pursue an undergraduate or post graduate programme at an institute where the medium of instruction and communication is English, an “academic training module” of the IELTS is ideal. The IELTS is conducted up to four times a month by the testing authorities; this is also dependent on local demand.

Modules Listening Reading Writing

Structure and Pattern Sections Items 4 40 3 40 2 tasks 150 to 250 words

Speaking

Time 30 minutes 60 minutes 60 minutes 11 to 14 minutes

The first three modules are completed on the same day while the Speaking section may be taken within a period of seven days before or after the other sections.

What does the IELTS test? The IELTS gauges the communication skills of a candidate in English. This is again a test meant for individuals who wish to work or study in countries where English is the language of communication. The four language skills that get tested in the IELTS are listening, reading, writing and speaking. It could be noted here that an IELTS score is a mandate in order to get an Australian student visa. Scores IELTS Academic gives a band score of 0 to 9 to its tests takers. The test score report consists of band scores for individual sections as well as an overall band score. The 9-band score system measures scores in a consistent manner. 0 stands for a Non User and 9, the highest score is for an Expert User. The band scores are compared with Common European Framework (CEF) levels and other University of Cambridge ESOL exams. Registration and Fees Application forms are available online and at all test centers. Filled in forms should be submitted or sent to the test centers along with the test fee. For more detailed information on the registration, test center location and other related information log on to www.ielts.org The test fee is Rs. 7,200/- payable by Demand Draft in favour of “IELTS India Project”, payable at New Delhi or Rs. 7,400/- payable by Credit or Debit card at the test center offices.

Mean band and total Scores – IELTS Academic for India Listening 6.1 Reading 5.54 Writing 5.46 Speaking 5.72 Overall 5.75 Source: www.ielts.org

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Pearsons Test of English (PTE) Academic Who administers the PTE Academic? PTE Academic is delivered by Pearson Language Tests (PLT), which is part of Pearson plc and is endorsed by the Graduate Management Admissions Council (GMAC). The PTE Academic is administered in 37 countries worldwide and is recognized by more than 1300 institutions around the world PTE Structure Part Content Introduction Part 1 Speaking and Writing Part 2 Reading Optional Scheduled break 10 minutes Part 3 Listening

Time 77 to 93 minutes 32 to 41 minutes 45 to 57 minutes.

The minimum and maximum timings of the sections do not add up to the total test time. This is because different versions of the test are balanced for total length.

What does the PTE Academic test? Launched on 26 October 2009, the Pearsonâ&#x20AC;&#x2122;s Test of English (Academic), measures the English language skills of non-native English speakers. The test was developed after intensive field research involving 10000 international students across 1500 universities. PTE Test Scores The PTE gives the student an overall score ranging between 10 and 90. The individual scores for each skill tested are also in the range of 10 to 90. PTE Academic is aligned to the Common European Framework (CEF or CEFR) - a widely recognized benchmark for language ability developed by the Council of Europe. Registration Students can register online on www.pearson.com. Students need to pay a registration fee of USD 160 by credit card.

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Time to Get Net Savvy

ime management is an important aspect of the application process. Most students lose out on their MBA admissions as they miss their deadlines or apply too close to the deadlines and in the event muddle up their application. It is advisable to start the application process a year in advance. Give yourself ample time to scrutinize each application and plan your schedule accordingly. If you are applying for financial aid, you should also give yourself additional time to assemble all your financial documents. The Application Process for B-schools today is completely online. Paper Applications are a thing of the past. There are very few schools that accept paper applications but this practice is being phased out. To upload an application online, students need to register themselves for the online application. On registering, students are emailed their login details like the User ID and password. Students can access their online application at any

time and complete their application. The online application also gives students a completion status of their applications. In all aspects, the online application is simple and a user-friendly means of applying to a School.

Application Deadlines To know which deadline you should apply in, you should first understand the admission systems. Rolling Admission System Rolling admissions means that Semesters applications are reviewed on a firstUniversities abroad have four semesters: come, first-serve basis, beginning from Summer Semester: Starts in June a certain date. Therefore, for schools Fall Semester: Starts in August with such a procedure, it is advisable Winter Term: Starts in December/ to get all your application materials January in early so that you can be considered Spring Term: Starts in February/ March among the first. Most international students apply for the Rounds System Fall Semester as traditionally it has: In such a system there are usually 3-4 - The largest in-take of students. rounds of application deadlines. Usually - Higher acceptance rates for international majority of the class capacity gets filled students up by the first and the second deadline. - Better chances of getting financial aid Applications are reviewed at the end of are better. each round.

Start Early The need for an early start holds true even if you are able to access electronic applications on the Internet. University Web sites and other academic Internet sites may provide quick and convenient access to the required application forms, but you still need time to research your options, contact teachers and institutions to provide recommendation and transcripts, and sign up for required entrance exams (standardized tests) in time to meet application deadlines. Source: www.internationalstudent.com Early Decision Deadlines A few schools like Columbia have an early decision deadline. This basically means that if you get through this decision you should accept this school and forego other acceptances if any. It is advisable for students to apply in the first application deadline in either case. For one thing, an early application demonstrates strong interest and motivation on your part. It also is a measure of your proactiveness and depicts that you are an organized individual. Indian students must apply by the second deadline for better chances of admission and financial aid. Check the school application carefully to find the application deadlines. Some universities also have separate deadlines for international students. In case these are mentioned then you need to follow these deadlines. MCG The MBA Career Guide

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Shortlisting Schools:

Basics to Choosing the Right Fit

he one question that dominates the mind of all aspiring MBA students is – “Which schools are best for me?” The answer is a rhetorical – “What are you looking for?” By answering this pertinent question, you will be able to draw up a list of five schools that are best for you. Researching schools includes reading the institution’s promotional materials, examining where its professors were educated and their experience, researching where the institution’s graduates generally get placed and how they fare in their careers in the long term. You also need to talk to the alumni and current students and if possible, visit the campus. However, the information you gather will make little sense if you haven’t figured out why you want an MBA and what you expect your MBA to mean in your career.

For example, if you choose to make a career in Supply Chain and Logistics, choose a school whose faculty are known in the areas of Operations and Logistics; a school whose guest lecturers or external speakers regularly include stalwarts from the Logistics industry and whose recruiter list features at least 5 top logistics companies hiring students for internships and placements. Business Concepts: You need to choose a school that has the right curriculum and follows an appropriate pedagogy to teach you the technical aspects needed to achieve your career goals. Skills: And lastly, choose a school that will embellish all your business skills and business acumen to the hilt in order to help you achieve your long term career objectives. Once your long term career goals are decided, with a methodical approach you will be surprised at how fast you can compile your first list of ten schools. Ten Parameters to Shortlist Schools The first step in the shortlisting would be to determine the area of specialization, based on your career goals. Having done that, you will find a list of about top 50 universities offering that subject taking into account the rankings available, location which would determine the cost of living, tuition (state colleges have a lower tuition than private schools), and concentration of industries for future prospects. Visit www.advancedge. com/mcg for a list of B-schools.

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Deciding your long term career goals is crucial to the shortlisting process. Your career goals should in fact be the main driving force behind you pursuing an MBA and should be given serious consideration. Once your career goals are decided, shortlisting just happens to fall in place. As seen in Figure 1, MBA is what you need to fill the gap between your current career status and your future career aspirations. Thus is order to fulfill your career goals, you need to choose schools that will give you the needed experience: to achieve you career goals. This includes interaction with the right set of student community, faculty, alumni network and recruiters who have common interests with your career goals.

The following criteria (in no particular order) should be considered before applying to a particular B-school. 1) Rankings: Two types of rankings are available: • Overall Rating of the institute – indicates the broad ranking of the school like on www.usnews.com. • Specialisation Rankings – indicates the rankings in each field of specialisation such as finance, marketing, non-profit management etc. Both kinds of rankings will give you a fair idea about the universities that could be definitely ruled out. Rankings should be used to purely narrow down your choice from a large pool of school options. However, one should check out the methodology of the rankings i.e. what factors were considered for rankings before short-listing the schools. A caveat: rankings should never be the sole factor for shortlisting schools. Some schools may have excellent programmes but still not be a part of the rankings. Choose the programme for its merit rather than its position on a list. 2) Test Scores: Most B-schools mention the average 30

test scores they are looking for. This parameter will give you a fair idea about your chances of admission to the School. However, if your GMAT score is low but you have something exceptionally striking in your profile (in terms of work experience, extra curricular etc), then give less weightage to this parameter. Meeting the score requirements does not guarantee admission; it only improves the probability of admission.

I considered other schools with top reputations in marketing. But I was looking for more than just great marketing skills. I wanted a varied experience that would take me outside my comfort zone and prepare me to deal with anything. Tuck is all about resources, access, and exposure. Better still, the faculty are serious about sustaining you and your pursuits. Stootee Parikh, Tuck MBA 2010 Source: www.tuck.dartmouth.edu

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3) Student Information: There are two aspects to be considered in this regard: Desired Student Profile: The School websites mention the kind of students they’re looking for – the qualities they value most. The admission essay questions would also focus on these skills. All informative material will mention the desired qualities, the desired academic profile of the student and the past students’ profile. Student Demographics: The B-school websites also mention the profiles of their current students viz. male / female ratio, number of international students, applications received and accepted by the university, a subjectwise percentage of students. Such information proves very useful in selecting the school. 4) Resources: Resources include all supporting facilities like housing, food, day-care centers for students with family, the student clubs and organisations, the career support services provided by the school, the seminars and Special Speaker series, the exchange programmes conducted by the school etc. Such aspects enhance the entire ‘student experience’ and are thus important. The MBA Career Guide

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Looking at the placement rates in your field of interest offers good insights—find out what sort of people with what sort of backgrounds appear to have success [after] leaving the school. Beyond knowing how good a school is going to be at helping you, you need determination to balance your time and devote sufficient resources to that end goal. The MBA is a course about perseverance and being able to discover and leverage your personal strengths to get through the two years and get a great job. And, keep in mind that the networks you build in the MBA program are still applicable well after graduation. James Hendricks, MBA from Case Western Reserve University, Manager of Human Resources (HR) for a leader in the cable news industry

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5) Faculty and Curriculum: Students need to check the profiles of the faculty teaching at the university: whether there are any notable/eminent personalities in the faculty, the faculty’s work experience, industry knowledge and their educational background. The quality of faculty greatly affects the quality of teaching. Schools also give information about their teaching methodology. Most B-schools use a combination of case studies, lectures and projects to teach students. Check for the teaching methodology that best suits you. Also The MBA Career Guide

check the electives that the school offers and whether these electives suit your career goals. For example, a person interested in a career in Marketing may be particularly interested in social media and digital marketing. Also check if the curriculum is flexible, wherein you have the option to pursue dual or joint degrees. 6) Alumni Feedback: Build a communication flow with the school alumni as they have lived through all that you are about to experience. Most school websites have discussion Shortlisting Saves Costs After shortlisting, decide the 5 universities that you wish to send your scores to on the day of the GMAT®. If you miss this opportunity you will spend US $25 per university in order to report your scores. So instead of just: $250 (for GMAT®) + $50 (2 additional reports) = $300; you will spend: $250 (for GMAT®) + $175 (7 additional reports) = $425, an extra $125 dollars for 7 universities.

boards and chat rooms where aspiring students can speak with the second year students and college alumni and seek answers to specific questions. Don’t just speak to one person but seek advice from as many alumni as possible. This is perhaps the best source to find out whether you can identify with the vision of the school and gel well with Things You Should Know The rank of the university does play a role in your future prospects but you should also remember that companies would look at the course work and the research work that you have done during the graduate study program. Since you are usually given the flexibility to choose courses beyond the core courses (3-4), you should choose those that would be professionally relevant. Thus, select courses with post-degree plans in mind. Shortlisting is undoubtedly a time consuming process. However, a methodical and pre-meditated approach can simplify the entire procedure. Be prudent and balance your interests, capabilities and financial capacity while shortlisting universities. 31

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8) Fees: The tuition fees vary from one university to the other. Fees in private schools are definitely higher than fees in public schools. If you feel that your payback is assured in a short period of time and the cost to benefit ratio is lucrative, then your tuition fees should be considered as a smart investment for the future.

I am adamant about telling people to forget rankings. My advice is to focus on the program that has these traits: the right size, the right courses, the right industry experts in your field of interest, with connections in the geography where you want to end up. Also, determine what learning structure is good for you—for example; do you prefer cases or the lecture format? Is there a club for every discipline? The schools on your short list should [result from] these considerations. Nicole Bell-Simon, MBA from Harvard Business School, Senior Manager of the Strategic Planning Group for a major food and beverage company Source: www.mba.com

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its culture. Also the alumni can tell you how the school is perceived in the market and its strengths vis-à-vis other schools.

9) Financial Aid: Check the financial aid available at the school. Scrutinise the eligibility criteria carefully as many scholarships are reserved for students from particular countries, particular sectors or particular career verticals.

7) Location of The University: This is very important from the point of view of cost of living. The cost of living will be higher in urban areas than in rural areas. Typically cities like Paris, New York and London (which house some of the better known B-schools) have a high cost of living. If cost is a major consideration, look for MBA programmes (without too much compromise on the quality) in countries with lower cost of living such as Singapore, Canada etc.

10) Accreditation: Accreditation ensures that the School meets certain benchmarks in terms of teaching standards, infrastructure and curriculum content. Check the accreditation methodology. Also check if the accreditation is applicable to the university or to a programme. For example,. AMBA accreditation is applicable for individual programmes and not to the entire institution as such. MCG

According to the GMAC 2010 Application Trends Survey, A typical 2010 full-time MBA programme applicant was between 26 and 30 years of age (43%) and had three to six years of work experience (42%). A notable difference was observed in the proportion of foreign applicants to two-year (48%) and one-year (67%) programs. Nearly all participating programs reported that candidates were either more academically qualified (46%) than last year’s candidates or comparable to last year’s (45%). Source: www.gmac.com

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Admission Essays: Your story in your words

he whole purpose of your application is to convince the admission committee of your candidature for the MBA program â&#x20AC;&#x201C;why it is imperative for you to pursue the program now, how it fits into your short and long term goals and in what way you would contribute to the program. Your essays are a key element of your application packet. Essays provide you with an avenue to put forth your thoughts, your plans, your aspirations and your beliefs in front of the admissions committee. The challenge then is not to figure out the objective of these essays but to present yourself through them as a candidate who simultaneously fits in and stands-out in the applicant pool. Your essays are a testimony to your story, not what the committee wants to hear. But if you have done your research well and chosen schools where you fit in well, the essay writing process should come through far more smoothly.

The best way to have a good idea is to have lots of ideas And these are generated through research and reading! Your targeted schoolsâ&#x20AC;&#x2122; literature, information sessions, and web sites will give you an idea of what their respective admission committees are looking for in a prospective candidate. Interact with current students and alumni; attend webinars, chat sessions or if financially feasible, visit the school and attend a couple of lectures to see if you are comfortable with the environment. Know the question being asked! Most applicants do everything right except understand what is being asked! Address the central theme asked in each question. Throw away anything that deviates from

Here is a 12 point Action Plan to churn out the perfect admission essays. Success occurs when opportunity meets preparation. Organize and monitor your essay writing process. The best of writers work in a disciplined schedule rather than in inspirational spurts. Planning compels you to think about what you are going to write before you actually put pen to paper. Most applicants write their essays in separate parts in the hope of gluing them together later. The problem with this approach is organizing these pieces for more often than not, you lose the trail of thought. This results in going back to the drawing board and starting all over again. The MBA Career Guide

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General Do’s and Don’ts Do’s • Keep the focus on you • Use a positive tone • Make every word count • As far as possible use the active voice and the present tense • Write clearly, succinctly • Check for redundant words • In addition to editing your essay ask someone else with strong language skills to critique your essay • Use humor wisely; don’t try to be a clown this theme. This will ensure coherence between the different components of your essay. Essay questions range from the extremely specific to the abstract. Most schools have guidelines on what they expect from your essay. Read them thoroughly and abide by them. Avoid repeating what you

Don’ts • Don’t let your desperation for an admission show through your essay • Don’t make excuses or use pleading language • Don’t repeat what is already mentioned in your other admission essays or documents • Don’t begin the essay with the essay questions like “I want to pursue an MBA because ...” • Don’t rely on heavy industry jargon. This shows you don’t have much to say or worse, that you can’t think clearly • Don’t make things up

have already mentioned in other parts of your application package. Structure your essay Once you have gathered relevant material and decided on a central theme it is very important that you organize it. One of the

easier ways of doing this is to make an outline of your essay. You can then logically distribute your material into its respective sub-categories. That way you can delete material that does not fit in right at the onset instead of waiting to clear the deadwood during last-stage editing. Beware of recycling! Although there are some common essay topics asked by business schools, remember to edit information which makes it obvious that you have written that particular essay for another school. Recycling your essay is fine only as long as you don’t do it blindly. Schools are aware that some essay questions are universal and they also know that a time constraint means that most applicants will not recreate essays on common topics. But what irks them is that applicants don’t even bother to change the school’s name. You may be required to position yourself differently before different schools. For example, one school may place more value on a global outlook and soft skills, whereas another may look for high quantitative ability and solid work experience. You will then need to structure your personal essay to address these requirements. One must row with the oars she has Your first instinct will be to turn to the ‘World Wide Web’ for help, but keep in mind, so will most applicants. There is no shortage of stereotypes in admission

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essays, so do yourself a favour and avoid this route. A little bit of self-analysis will go a long way in making sure you don’t end up positioning yourself below your expectations. Take the time to probe what makes you unique. Analyze your past Your past is a treasure trove for providing raw material for your essays and other elements of your application package. Take time to analyze your past accomplishments and the sacrifices you had to make in order to achieve them, your failures and what you learned from them, moments of enlightenment and inspiration, your leadership qualities in times of crisis, major hurdles you overcame etc. Do this exercise seriously and honestly and you will find the right thread to weave your essay. Envision your future Write down your future goals, aspirations and where you see yourself 5 or 10 years down the line. Frame this information with your need for an MBA and why you chose a particular school. You have to show your seriousness about pursuing a particular programme and how it fits into your future plans. Turn to your family and friends for help. Ask a few friends or family members to pick five adjectives or personality traits that characterize you. That way you can maintain some objectivity about your strengths and weaknesses.

explaining how he or she can bring value to the programme. However, don’t pretend to be what you are not. Use concrete and real examples that carry weight. Any lie will catch up with you. Great starts make great finishes The opening of your essay needs to capture the attention of the admissions officer right away. If you don’t grip the reader in the first 2 minutes no matter how much time she spends with your application, the impression stays. A good introduction is hard to come by – one that not only introduces your essay but also lays out clearly what is going to follow. Avoid clichéd quotations as introductions. Finish your essay with a striking conclusion. Make sure not to merely restate your introduction. Although it is acceptable to summarize important aspects of your essay, avoid sounding repetitive. Don’t whine Speaking about your hardships doesn’t mean you have to whine to the admissions committee about how unfair destiny has been to you. Do just the opposite, use humor to play down the hardships and credit them for motivating you to reach your goals. Let your optimism shine through your essay. If you made a mistake, take responsibility; explain the circumstances that contributed

to it, what you learnt from it and how you moved on. Make copies of your essay There is nothing more tragic than having your hard drive crash a day before submission and the realization that you don’t have any soft or hard copies of your essay on a DVD or pen drive. Make sure you have at least one backup of your essays, and in fact, of your entire final application, to avoid such disasters. Admission Essays: The Three Draft Process Remember Rome was not built in a day: Don’t expect to conjure a good essay in a day or two. A minimum of two drafts are required to make sure you have covered all the aspects of your topic. (Most successful students work through 5 drafts per essay on an average. And we don’t mean only correcting punctuation and spelling but improving on language presentation every time they go back to an essay.) It is advisable that you let a week pass before you review your first draft and attempt the second. This will enable you to critically review your first draft and make the necessary changes in the second draft. When compiling your second draft, make sure you are primarily editing the first draft and not snuffing the life out of your essay. Refer to the Figure 1.

Market yourself All business schools place a high premium on diversity. Use your essay to tout your uniqueness because all business schools have applicants who are smart, focused and have excellent work experience. A business school is going to be very interested in a magician wanting to do an MBA rather than another accountant or engineer, provided, of course, that the magician has fulfilled other academic criteria and has been successful in The MBA Career Guide

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Common Essay types Essay Question How to Approach This Question Why MBA? As mentioned be clear about how an MBA fits into your career plans This essay spells out your reason for wanting an MBA. and why the time is right for you to pursue one. Schools want to make The School wants to know if you are clear about your sure you are not just one of the many applicants unhappy with their future goals and how an MBA fits in. job situation and taking up an MBA program because they don’t have anything better to do. You need not mention your whole life plan, just those aspects where an MBA comes into the picture. Once you have described your direction, you need to address the question Why Now? The timing may be because of many factors: you may want to switch Schools are interested to understand what prompted you careers, or feel that you are ready to take on more responsibilities as to think about doing an MBA at this juncture of your career a manager but need to learn techniques, or you need to take over the family business. This essay holds particular significance for people with non-business backgrounds like social workers, photographers etc. How would you contribute to our school? Hard work, intelligence, determination and focus are prerequisites for all Schools are always looking for a diverse student body prospective managers. Do not mention these as your only contributing and would like to know how you would contribute to this factors. Don’t restrict your essay only to your participation in class diversity without appearing as an oddball. You need to work. Show how you can contribute outside the classroom for example, stand out and at the same time fit into the school’s student participating in various extra curricular activities or club activities. body. Avoid dwelling on your educational qualification or work experience unless you have won major recognition for it. Use this essay as an opportunity to shine from the clutter. Your origins from a troubled country, the hardships you faced and how you overcame the obstacles will definitely catch the admission committee’s attention. Another theme would be unusual accomplishments like attempting to summit Mount Everest, doesn’t matter if you haven’t succeeded. There are not many people who undertake such ventures and the lessons you learned will be of great interest to the admissions officer, especially if you are from a serious professional background like accountancy, medicine or banking.

Your career progression to date This question helps the admission officer assess your working background and your progression to date. For applicants with unconventional jobs, this is your best chance to make the admissions officer understand the responsibilities that come with your job. Although unconventional jobs add to the diversity, a school would admit you only if you are able to substantiate this uniqueness with business acumen. This essay will help you serve the dual purpose of highlighting your singularity and providing a clearer understanding of your working background.

Don’t just list your accomplishments as in a résumé. Explain what significant role you played in each of them. It is important that you mention the responsibilities and how you contributed to the firm’s growth in various capacities. Select those job roles in which you made a significant contribution to the company. Then proceed to explain how your efforts, initiative and proactive attitude in this position made the difference. For every incident you mention, make sure your learning from the exercise shines through. Presenting your career progression in a proper manner is very important as this shows that you already have a plan, where you want to go and what you want to achieve and most importantly how you plan to stick by it. Make sure you relate this career evolution to your need for pursuing an MBA.

Your strengths and weaknesses Applicants rate this as one of the most difficult essay questions they need to attempt. How do you state your strengths without sounding boastful and your weaknesses without appearing pitiful? An honest self-appraisal doesn’t come easy to most people and most applicants find it harder to be honest about their shortcomings. A little introspection before you begin writing this essay will go a long way. You could also ask your family members or your close friends to make a list of your strengths and weaknesses.

Use instances to bring your strengths and weaknesses to light. A common mistake most applicants make is squeezing in a number of strengths and only one or two weaknesses. Worse they camouflage a strength as a weakness, for example “I am a workaholic”. Turning a blind eye towards your weaknesses shows your immaturity and lack of character. Sometimes your biggest strength can also give cause to your biggest weakness. Your determination to succeed at all costs may make you an aggressive person. This essay is not just about listing your strengths and weakness but also about how you are in constant improvement. Have you done anything to overcome your weakness? Illustrate this. State the impact. The MBA Career Guide

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Failures in the recent past and what you learned from them This question presents an admissions officer the opportunity to grade your maturity level by assessing whether you are mature enough to admit your mistakes and more importantly if you possess the ability to learn from your past failures.

Here you can write an instance where you were unsuccessful because of the lack of appropriate managerial skills or conceptual knowledge that led to your decision to pursue an MBA. Don’t forget to mention the valuable lesson that you learnt through this experience. Pay greater importance to the lesson learnt rather than the failure itself. When thinking of an example, choose one where you have had enough time to reflect upon matters in order to truly benefit from them. Another option of choosing a relatively distant failure is that you did so as a novice and are no more prone to making such blunders. A touch of humor will help in making this an interesting read and keeping the tone light.

Situations in the recent past that demonstrate your leadership skills. Business schools are looking for people who distinguish themselves as leaders and can be groomed into world-class managers. Most applicants discuss an instance where the group made an impressive contribution to a project or won a major award without discussing how they as a leader were responsible for the group’s success.

Leadership examples need not be only from your professional life, you can name instances like leading a mountaineering expedition or guiding your local football team to an unexpected victory. You need to illustrate what strategy you used to inspire and influence your team and what problems came your way. Admitting failure and the willingness to learn from it is a hallmark of a good leader. Did you involve your teammates and were you open to constructive criticism?Most of all did you have a vision and led others to achieve it? Remember you are positioning yourself as a prospective CEO. A successful CEO is no dictator! Your achievement may or may not be substantial, what matters is that you played the pivotal part in motivating your team to achieve this success. Don’t make up a hobby, but state the one that you have really enjoyed doing. If you have sacrificed a hobby because of your job, be honest about it. Speak about your passion for the hobby and that with proper time management, you still hope to pursue it. Sound enthusiastic about your hobby and show that you are genuinely interested in it.

Hobbies and extracurricular activities This question is asked to understand if there is more to you than being a business person. Your hobbies are a signature of your uniqueness. A skydiving accountant, an investment banker who is also an amateur painter or a marine who is an excellent jazz singer are some unusual combinations which will make the admissions officer sit up and take notice. Hobbies and extracurricular activities This question is asked to understand if there is more to you than being a business person. Your hobbies are a signature of your uniqueness. A skydiving accountant, an investment banker who is also an amateur painter or a marine who is an excellent jazz singer are some unusual combinations which will make the admissions officer sit up and take notice. Ethical dilemma Business schools concentrate on business ethics as much as they do on other business related issues. Your essay gives an admissions officer the opportunity to understand your standpoint on this issue.

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Don’t make up a hobby, but state the one that you have really enjoyed doing. If you have sacrificed a hobby because of your job, be honest about it. Speak about your passion for the hobby and that with proper time management, you still hope to pursue it. Sound enthusiastic about your hobby and show that you are genuinely interested in it. Choose an incident where you have enough to talk about and which is relevant in today’s business world. Don’t cast yourself in a saintly garb and place social cause before profits. Balance the pros and cons of your decision and find a solution which reduces or eliminates the dilemma.

Application Basics

MBA application essays

o understand the admissions process, you have to look at it from an admissions officer’s point of view. Each year the staff tries to assemble a well-rounded class consisting of people from a broad range of work backgrounds. It’s important that they assemble a diverse group because many assignments in B-school are collaborative and interdisciplinary. Consequently, projects will be more successful and students will learn more if their teammates can contribute their own unique perspectives. Business school students face a uniquely difficult challenge, because most programs require a series of essays rather than a single, comprehensive personal statement. This fact alone

should indicate the importance that business schools place on your written responses. Part of the reason for this extra required writing is that business schools also place a stronger emphasis

on practical experience. Academic ability may still be the number-one factor, but it’s not enough to get you into a school, just as it’s not enough to guarantee your success in the business world. Business schools pay close attention to personal qualities, including your leadership, communication skills, initiative, vision, and many more. Grades and scores do not explain this side of you, and neither does a résumé. Thus, your admission will depend largely on your ability to convey your experiences and goals in written form. Self-assessment is a significant part of this process, as is a careful review of both your life and what you have

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Application Basics

done professionally. Many successful professionals have simply never had to articulate their accomplishments before and now for the first time must communicate this information in a very clear, concise, powerful manner that is accessible to anyone, even without knowledge of their field. Being able to convey both the substance and significance of one’s work life, is crucial, for all applicants. The admissions staff faces a tough challenge, though, in assembling a diverse class because the vast majority of applicants to top programs come from only two broad work categories: finance and consulting. Many of these people have worked at the most prestigious firms. They got good grades as undergraduates (or they wouldn’t have been hired by top firms), and almost all of them take GMAT prep courses because that’s part of the culture at their firms. In other words, they have a lot going for themselves. If admissions officers were to select candidates strictly on the basis of GMAT scores and undergraduate GPAs, their student bodies would be comprised almost entirely of people from finance and consulting backgrounds, which would make for pretty bad class dynamics. The admissions people know about this disparity, of course, and they compensate for it by starting with a general idea of the class profile they hope to end up with. The most common (and most important) MBA essay you’ll write is the one that asks about career goals. It’s usually combined with a question asking why you need an MBA and another asking why you need an MBA from that particular school. The basic strategy is to write something like the following three headings before attempting to respond to the questions: Career goals, The MBA Career Guide

why an MBA, why this school? Under each heading you should write a rough outline of your response. Don’t worry about style; just get some ideas on paper. Then try to link your responses together into a single coherent essay. (And notice that with the headings, you don’t need a transition from one topic to the next.) Answer the Essay Question Being Asked! Believe it or not, most applicants fail to answer the question being asked. A question might ask about professional accomplishments, and the applicant will respond with an essay about a spelling bee he won in the third grade! That’s why the headings are so important. I use them to restrict writers to the topic at hand. By limiting the writer to a direct response to a direct question I have a better chance of keeping him on topic. Without that structure most writers stray from the topic after just a few sentences. The problem is particularly noticeable on the Stanford essays because Stanford has the longest essays of any of the schools. (And, ironically, Harvard has the shortest.)

Writing Style and Voice MBA application essays are the dead verb graveyards of the English language. Most of the essays are stiff, passive, and unnecessarily formal because applicants choose to use passive verb constructions. Loosen up. It’s okay to substitute “it’s” for “it is” and “I’m” for “I am.” Some contractions, however, are too informal and should probably be avoided. Don’t be too stiff but, at the same time, don’t get too loose. The voice you use in your essays should sound professional but, at the same time, it should be a little informal. Try to imagine the voice you would use if you were interviewing at the school. You also don’t want to sound chatty or use a lot of slang. Word Limits & the Optional Essay Most schools are serious about their assigned essay lengths. You can exceed the limits by 50 words or so, but 100 words is pushing it. That’s especially true at Harvard, where the essays are very short. And now that virtually all applications are submitted online, some schools include forced cutoffs once the word limit has been reached. 39

Application Basics

Also, writing a long diatribe for the optional essay is a sure way to upset your reader. The optional essay is not a forum for you to unload all of your insecurities about applying to B-school. Use it only to explain something that’s important but that wasn’t addressed elsewhere in the application. And the optional essay doesn’t have to be about something negative (though it usually is). If you are going to use it to explain sub-par grades, don’t whine or make excuses. Even if your optional essay is going to be about something good, don’t ramble on. Be concise and to-the-point. Brevity After you have written an essay, see how many words you can edit out of it. That’s the only way to make an overweight and ineffective essay crisp, focused and clear. Content, Not Grammar Remember, MBA essays are more about what you say than how you say it. (That’s why we work so hard on our applicants’ strategies.) So think hard about what you can offer a business school before sitting down to write your essays. Specific Details, Not Generic Drivel If you are a consultant at a top management firm or an investment banker, for instance, don’t tell me about the standard stuff that you and all of your colleagues do. I know all about that. Talk about the specific assignments you have worked on and what you did in those assignments. And hit the hot topics. If you worked overseas, talk about that. (B-schools love international experience.) If you worked in a tech area, be sure to mention the assignment. If you were involved in a high profile project that garnered a lot of media attention, be sure to mention it. 40

Don’t be too stiff but, at the same time, don’t get too loose. The voice you use in your essays should sound professional but, at the same time, it should be a little informal. Miscellaneous Suggestions 1. If you speak a second language, say so in your essays. Don’t bury that talent in the application paperwork and ignore it elsewhere. Admissions people may not always see it in the paperwork, and even if they do, they might not put it into the context of your career goals. Speaking a second language is a significant advantage when applying, so be sure to bring it up at least once in your essays. 2. Don’t spell the word “Kellogg” with only one “g.” (You’d be surprised how many people do.) 3. Don’t quote inane facts about the school back to the admissions committee. 4. And especially don’t quote a school’s mission statement back to the admissions people. They know their own mission statements. In fact, don’t quote anything from the brochures. The admissions people wrote the brochures and don’t need you parroting their work back to them. 5. Don’t use the expression, “thinking outside the box” in your essays. Don’t use it. Ever. 6. Don’t use vague terminology and obscure industry jargon to describe the work you do: “We’re a value-

added services provider for mid-cap multinationals looking to penetrate third sector foreign markets.” 7. The problem with throwing jargon at an admissions officer is that he has never done your job and doesn’t understand the jargon any better than you did before getting hired. Very few admissions officers have MBAs, so go easy on the jargon. Timing your application If you don’t apply early, you probably won’t be going to a top school. There is so much competition among schools for the best candidates that admissions officers can’t afford to pass on good applicants in the early rounds. Consequently, there are very few open spots remaining after the January deadlines. Most schools have three application periods, but some have as many as five. (And some schools work on a pure “rolling” basis.) The problem with the first round is the quality of its applicants. There are a lot of “sharks” in that round. They aced the GMAT, got good grades in college and have great work experience. To top it all off, they managed to get their acts together and finish their applications in time for the first-round deadlines. So apply whenever you like, but try to get your application in before the January deadlines. And remember that it will take two months to collect your undergraduate transcripts, complete all the application forms, write your application essays, and get your boss to finish your letters of recommendation. I know that sounds surprising, but I encourage all the people I work with to apply to at least six schools; and even with my hounding, it usually takes them two months to get through that many applications. MCG The MBA Career Guide

Application Basics

How to Write a Statement of Purpose

our statement of purpose (or letter of intent) is an opportunity to show business schools what unique and valuable contributions you can make to the MBA program. Statements of purpose are as varied as the backgrounds of prospective students, but excellent letters of intent share many features. If you are applying to a business school, read below to learn how to write a statement of purpose. Writing your admissions essays or Statement of Purpose (SoP) is a long and intensive process - ten to twelve drafts over a two-month period are fairly common. It is necessary to put in this hard work to come up with an essay that is uniquely yourself, and a compelling read which convinces the admissions committee that you are right for their school. This is a great opportunity to look inside yourself and be rewarded by a better understanding of who you are and what you want.

It need not be a bald statement of facts; several successful SoPs address these questions through anecdotes, stories or by describing their hero. But

whether your SoP is subtle or to the point, it must be well written to be successful. Why is a Statement of Purpose so Important? This is because the SoP is the only part of your application packet over which you have full control. Your academic and extra-curricular records are in the past. Most people only take one or two shots at the GMAT, GRE or TOEFL, and these scores could be adversely affected by conditions on the test day. It is important to choose recommendation letter writers

What is an SoP? The Statement of Purpose (SoP) is the single most important part of your application that will tell the admissions committee who you are, what has influenced your career path so far, your professional interests and where you plan to go from here. As the name signifies, the Statement of Purpose is your personal statement about who you are, what has influenced your career path so far, your professional interests and where you plan to go from here. The MBA Career Guide

Application Basics

carefully, but while you hope they give you the best possible recommendation, this is not within your control. The SoP is your chance to talk directly to the admissions committee. To make yourself stand out from among a multitude of similarly qualified candidates. To convince the committee that you have the spark, the thirst for knowledge that could add value to your class. How NOT to Write Your SoP Most of us work hard for the standard tests - the GRE, GMAT, TOEFL and others. We attend classes or peruse study aids. We give practice tests and do everything within our power to aim for the highest possible score. We know that these test scores, while not a perfect tool, are crucial to our chances of gaining admission and even a scholarship or assistant-ship. The SoP or essay, on the other hand, is put off until the last possible moment. It scares us when we look at those oh-soperfect essay examples in the admissions guidebooks and wonder how we can ever write so well; or how to pick our way through the minefield of endless Do’s and Don’ts. Finally we write something, because time is pressing and we have to meet the application deadline. We do our best, juggling the writing process with the last-minute paraphernalia of applying-checking forms for errors and completeness, collating the application packets, making sure transcripts, recommendations, work samples and résumés go in their right envelopes, worrying about transit times. We feel thankful when the essay is over, do a quick scan for obvious mistakes, and send it on its way. 42

Why is a Good SoP a Better Idea? If you do a lousy job on the SoP, you are practically throwing away your chances of admission. A good SoP will certainly improve your chances of getting admission to the school of your choice, and even compensate for weaker portions of your application such as less-than-perfect grades or test scores. A bad SoP, on the other hand, has the potential to drag down an otherwise strong application. If you plan correctly, you can give yourself enough time to submit a wellwritten, thoughtful, polished essay that will boost your chances for admission. Equally important, this is a great opportunity to look inside yourself and be rewarded by a better understanding of who you are. Writing a reasonably good Statement of Purpose is not an impossible task. It requires care, attention and patience. And enough time for you to be able to write several drafts, show them to people and polish the essay until you get a version you are happy with. Done right, this will even turn out to be an enjoyable process. And your chances of getting admitted into a great program or getting scholarships will be much higher!

they read a Statement of Purpose is: What does this essay tell me about the person who wrote it? Put yourself in an admission officer’s shoes. From among thousands of applications, you have to choose the fraction of students that will comprise next year’s incoming class. A mix of interesting, confident and enthusiastic people who will make the class a stimulating place. Academic achievements and good test scores are important. But in an era where the majority of applicants have good academic records, it becomes increasingly difficult to distinguish between individuals and decide who gets the offer of admission. When you apply, each of the items in the application packet: - recommendations, extra-curricular achievements, work samples - adds an extra dimension to your personality. But it is the SoP that brings you to life. Which is why each essay is read carefully by at least two and often four or five people before a decision is taken on the application. Does this mean that the SoP is the main deciding factor? No. Your academic record, grades and the courses you took What do Colleges and Universities look are the first section admission committee for in a Statement of Purpose? members turn to. Standardised test scores The primary question admissions are useful to know where you stand in committee members ask themselves when the applicant pool. For graduate schools, relevant work or academic experience is important. Being from a reputed school or college confers a distinct advantage. What your teachers or boss think of you contributes strongly towards the school’s opinion. A good work sample can show your creativity, skill and professionalism. However, only the SoP or application essays can bring out your uniqueness The MBA Career Guide

Application Basics

and, therefore make or break your application. An applicant who does not take the essay seriously is throwing away the best opportunity available. So are the admission officers looking for specific personality sorts? Well, yes and no. Creativity, curiosity, pride in your work, an enthusiasm for learning, a capacity for teamwork, the ability to think independently and so on are all good attributes, and most of us share these in varying proportions. “What schools look for is a mix of individuals that form a well-balanced class” How Do I Write a Great SoP? Check Your Fit: It’s a good idea to go through the school’s brochures or web site, speak to people about it, visit it if that is possible; get a feel of the student mix that they look for and decide if this is the school for you. Finding some subtle things can give you a great boost- for example, if you’re a great basketball player and the school prides itself on having a great basketball team, mentioning your skills on the court in your SoP can certainly give you an advantage. Don’t lie: Trying to tailor your SoP to reflect what you think the school is looking for is dangerous business. The people who read your application have years of experience and are skilled at spotting fakes. They are likely to know soon if a particular author is saying something for effect or if an essay does not ring true. And that means almost certain rejection. Now, you might be asking, what am I supposed to do, impress and lie or be honest but not look as good? Of course you want to have a positive effect on the admissions officers. The important thing is to do so without appearing dishonest. If, for instance, you talk about your deep desire to make society a better place, your application should reflect it. Have you done anything about this desire? Can you talk about your actions and experiences? The MBA Career Guide

A small example of something you did, not necessarily spectacular, can do more towards boosting your chances than the noblest platitude can. Don’t try to be something you are not. Don’t try to tell the admissions committee what you think they want to hear. Be honest, look inside yourself and do your best. Self-knowledge: The people who read your essay want to be convinced that you have thought long and hard about who you are, what the things you appreciate are, what inspires you. What you want out of life, and where you are going from here.

Every statement of purpose must have a description of your business and educational back ground, as well as a specific plan for the future. Make sure you do just that- think. Take time to plan your SoP by writing down all the important points you wish to discuss, the various activities, skills, and personal goals that make you stand out. You’re the only person who knows these things, so analyse yourself before you start writing. Don’t overkill: It is not necessary to have all the answers. After all, several admirable people have no idea where they are going even at age 40 or 50. And there’s no need to talk about every single thing that makes you special just because there’s a small chance it might look good. Admissions officers ask for a short SoP, not a 5-volume autobiography. Pick only the things that you believe make you the right candidate,

and remember- less is more. Polishing Your Statement of Purpose So now you have a coherent essay put together. You think the structure is more or less right, the ideas flow, and the language isn’t bad. What next? The ‘In their shoes’ check Put your essay away for a day or two. When you take it out, lay it face down for two minutes while you put yourself in the admissions committee’s place. Imagine yourself to be a professor or graduate student who is going through a few hundred applications and classifying them into ‘yes’, ‘maybe’ and ‘no’ piles. Think of how you would look at SoPs and try to read yours through a stranger’s eyes. Judging your own SoP will help you identify its quality, although of course, you do have some bias in the matter. Showing your stuff around It is essential to show your SoP to a few other people whose opinion you respect, as they won’t have the same bias you have and they can provide important feedback. You can ask an English teacher from school, a professor, an older friend, a parent or a relative. Include among these, 2-3 people who know you well, and can judge both the quality of the paper and the truth of what you’ve written. Every statement of purpose must have a description of your business and educational back ground, as well as a specific plan for the future. What particular aspects of this schools program will teach you specific skills? What do you want to accomplish with your education? What benefits of the MBA degree are indispensable in your field? Be specific! Make sure your letter of intent is unique and pertinent to each school you apply to. Admissions committees don’t want to read generic letters that sound like they could have been sent to any school. MCG 43

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Letters of Recommendation (LOR): Do’s and Don’ts

lthough applicants generally ﬁnd a recommender; they underestimate the signiﬁcance of these letters. They normally choose people who are famous but hardly know them or people who will say only good things about them but are not in a position to address key issues which the admissions committee expects e.g. managerial potential, leadership, intellectual ability etc. It is important to understand here that a recommendation is a true third party account about ‘You’. Choosing a mature recommender will only enhance your application. Here are a few suggestions to choose an appropriate recommender.

Letters of Recommendation (LOR): Who should write them? Although applicants generally ﬁnd a recommender, they underestimate the signiﬁcance of these letters. They normally choose people who are famous but hardly know them or people who will say only good things about them but are not in a position to address key issues which the admission committee expects - for example, managerial potential, leadership, intellectual ability etc. It is important to understand here that a recommendation is a true third party account about ‘You’. Choosing a mature recommender will only enhance your application. This article shares a few suggestions that will help you choose an appropriate recommender. Do not compromise familiarity for prominence Avoid choosing recommenders who are famous but will not be able to say much about you. To add credibility to your letter 44

of recommendation it is important that the recommender illustrates through examples that you are an ideal MBA candidate and the school will proﬁt from your participation. Inarguably the best person to do this is the one who knows you well. Such a person is most likely to take the time to write a

admissions ofﬁc¬¬er know that you have put in a great deal of effort in selecting the right recommenders.

Know your recommenders Choose a recommender who can actually draft a good letter. Don’t pick someone who likes you or thinks highly of you but cannot articulate that effectively in … w o n words. Their intentions may be good, K Should act as a n o Things You ti a d n e but their writing skills, less so. If you Recomm rs of Letters of Weak lette . s s e c c have a recommender who graduated u s of the barometer ggest that u s n e ft o n from your target school, try and see atio success recommend nly limited o d a h s n a if you can get her recommendation A h l. applicant professiona a s a r o t f o n (provided she knows you well). a Letter as a stude cer views ffi o n o s ti n a io She would be well versed with the s rm confi admis n as a o ti a e d th n e in m admission process and would know Recom t yourself u say abou as ts c a It . n exactly what is required to help o of what yo ati f the applic u o o s y rt t a a p h r w e f oth your candidacy. ction o ent, a refle . reinforcem s y a s s n in your e have writte Make an informed choice Your recommender will need to address good recommendation your business skills, mental ability and letter. A carefully drafted recommendation your character. The best person to letter describing you in good light lets the appraise your business skill is your current The MBA Career Guide

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boss, unless you decide not to inform him that you will be leaving the company to pursue an MBA. Another possibility would be a former client with whom you have successfully interacted for a reasonable length of time. If there is no probability of getting a recommendation from your current superiors, approach your previous boss. However, the more recent the recommender, the better. Punctuality Matters Choose someone who is reliable and will readily take time off his or her schedule to draft a good recommendation letter. Ensure that your letter of recommendation reaches the university well before the deadline along with all the other elements of your application.

How Many ? Most busin ess schoo ls ask for letters of two recommend ation (Harv asks for thre ard e). In such a case it is be obtain one st to from your c urrent boss client or ex and a -reporting h ead. When to presen a sked t three re commenda opt to send tions, one from a client and from your two reporting h ead reinforce your busin s. This will ess experi and bolste ence r your man a g erial poten Stanford re tial. quires a pe er recomm as the thir ender d recomme ndation. Sti the numbe ck to r of letters that the S asks for. Bu c hool t if you feel that the ad of an extra d it ion letter is an absolute m speak with ust, the Admiss ions Office any provisio r if n can be m ade to send separately. this

Letters of recommendation: How to get someone to write an LOR Writing a letter of recommendation requires considerable effort from both parties. You need to choose the right recommenders and your recommenders have to invest their valuable time to draft a good letter. How you approach a prospective

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recommender could make a great deal of difference in obtaining an ideal letter of recommendation. Here is a six-step process to do just that. Plan early Donâ&#x20AC;&#x2122;t catch your prospective recommender when he is walking down the hallway or in the parking lot. Think

over carefully how you are going to put forward your request for such a letter. Keep in mind that once you find a suitable recommender, he or she also requires time to write a good letter of recommendation. Hurrying up your recommender is not going to help your cause. Ask personally Itâ&#x20AC;&#x2122;s in your interest to request a letter of recommendation face-to-face. Donâ&#x20AC;&#x2122;t leave a voicemail message or email just to hide your nervousness. This will undermine the importance you place on such a letter and may offend your prospective recommenders. If you need to travel long distances to meet your recommender, call them first and then email the necessary documents/ links. Brief your recommenders on your reasons for taking an MBA Take an appointment with your recommender so that they can give you undivided attention as you brief them about your profile. Inform your recommenders about your reasons for deciding to take an MBA and your future career plans. This will help them structure their recommendations in such

Application Basics

could write a page spelling out what you will be putting in your essays, especially your positioning. Also elucidate what the questions are looking for. If you will be asking one recommender to recommend you to all the schools you are applying to, you need to warn her about the amount of work. Just like the essays, your “Professional recommendations are preferred over academic, as they recommendations will have to cater to are normally very recent and given by the candidate’s direct boss. the needs of each school. Though there Recommendations are very important in the application process as they won’t be much rework they would have provide a window into understanding the candidate’s achievements.” to take a look at the tone. Javier Muñoz, Director of MBA Admissions, IESE Spain Explain the process Only a rare recommender would know the a way that the admission officer is able as to why you are applying to their entire application process. You need to to understand your need for an MBA and program. Addressing these questions in a explain the process especially with online at the same time recognize your claim as recommendation letter will provide food applications. When you login to your an ideal MBA applicant. for thought for the admissions committee application you need to put in names and Don’t push too hard and definitely boost your candidacy. You details like email id and telephone numbers If someone is uncomfortable of your recommenders. They writing such a letter, it’s best then receive an email giving to find someone else. There may them the details of filling in be a number of reasons for such the online recommendation refusal. Don’t push for a reason form along with a login id and or forget to thank her even though password. you are disappointed. This leaves Warning Note! In the end, always send e m So recommendation: of s er a good impression and you never tt le e rg your recommender a thankNever fo employers to ant their current w know when it may come handy. t n’ do ts you note after you know the n an io ic erat appl parture and in desp de g in nd Make sure all key questions pe im r ei letter has been sent out. When know of th ember that the mmendation. Rem co are addressed re of er tt le you get your acceptance, let a u. e yo forg than s more grey hair ha ee itt m Present the recommender m Co ns the recommender know of Admissio ars and can easily is job for many ye with the questions asked by th g in do e ar your success and credit her ey Th rged tion is genuine or fo da en m m co schools and give her reasons re a if for it. MCG make out “Recommendations are considered as part of the Leadership Potential and Professional Experience portion of the application and are very important to the overall application. However, all areas of the application are reviewed equally in rendering a decision. We recommend that applicants provide two professional recommendations, including one from a current boss or supervisor.” Kara Keenan, Associate Director of Admissions, Marketing & Financial Aid, INSEAD

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Application Basics

Résumé: An Overview

nother important document that is required in the application packet and during interviews is the résumé. Nowadays the information that is traditionally included in a résumé is categorized under sections (like ‘Personal Information’, ‘Professional Information’) in the online application format. The résumé is a comprehensive document that gives the admissions committee an overall view of the student’s educational background, work experience, hobbies and other extracurricular activities. The résumé also helps the admission committee to gauge if the candidate’s educational background matches with the course he is opting for. When done carefully a résumé will stand out above the rest and provide the admissions committee with a strong picture of your abilities. Framing a résumé should be a prudent exercise in showcasing your strongest skills and achievements. Don’t show every skill you possess. A résumé should point out only your strongest skills and provide the school with focused information about you. Things to Look Out For… Contact Information: The résumé should consist of your full name, address, telephone number (with country and area code), e-mail address. Work experience: Ideally this should begin from the recent job held to the first job. Here you could state the designation that you held, the responsibilities you The MBA Career Guide

handled, any projects that you might have led or been a part of and any professional achievements you might have attained while working. Basically this portion of the résumé should implicitly state your learning through the work experience. Other interests and extracurricular activities: You should demonstrate your interests apart from your academic achievements. This is another opportunity (other than the essays and LORs) where your overall personality can shine through. Any awards or honors won or participation in any event should definitely be stated. Academic Achievements: Ideally you should list the degrees starting from the most recent one earned to the first. You should also list the institutions and the grades received and the year in which you passed. Any merits or distinctions should be highlighted. Personal information: This is optional information such as languages known, marital status, and hobbies.

Action words: Used effectively these words help the reader focus on the content and also provide clarity. Using too many of these words generally dilutes the purpose of the message; these words not only provide a punch but gain attention of the reader as well. A. accomplished, achieved, administered, advised, advocated, analyzed, appraised, arbitrated, assessed and audited. B. balanced, brainstormed, built. C. changed, clarified, coached, collaborated, combined, communicated, competed, completed, composed, conceived, conceptualized, conducted, controlled, coordinated, corrected, counseled and created. D. decided, delivered, derived, demonstrated, designed, developed, devised, diagnosed and directed E. enabled, encouraged, enforced, ensured, executed and explored F. facilitated, forecasted, formulated and founded. G. generated and guided. I. identified, implemented, improved, improvised, incorporated, increased, influenced, initiated, inspired, integrated and invented. L. led M. managed, marketed, mentored, monitored and motivated N. negotiated O. organized P. planned, presented, presided and projected R. rectified, reduced, refined, renegotiated, repaired, represented, researched and resolved. S. saved, shaped, simplified, solved, stimulated, strategised, strengthened, structured and succeeded. T. targeted and trusted

Application Basics

Admitted!

ou will hear from the schools you’ve applied to in close succession, so go through the admission offers thoroughly. First of all, write a thank you note to all your recommenders and inform them of the good news. Reply to the schools as well, thanking them. The schools that accept you will ask you to pay a registration fee, a token amount accepting the offer. You usually have a month to do this. Some schools may ask you to fill in your financial details form -. After you receive your admit letter/s you will need to choose the school that you want to go to. Make a good choice considering all benefits that come with the offer letter. Most schools consider you for financial aid – loans or scholarships automatically. But some ask you to apply separately. The information material sent to you will not only give you detailed

help but also name contact persons you can discuss your financial status with. Remember that for the visa, irrespective of the financial aid that you will receive once you join the school, you will have to prove that you have the financial capability to pay for the first year in liquid assets and for the second year in assessed property, jewellery and stocks. If you have received any scholarship, check if this is mentioned on your admit letter. Most schools will tell you the exact details, so you can calculate how much

finance you need for the visa. Accepting an offer also means that you will have access to the school’s intranet. This means that you can chat with second year students who will gladly answer your queries. A note of caution: Don’t be in a hurry to announce your departure in your office yet, especially if you have kept it under wraps till now. Do this only after you have got your visa. More importantly don’t put in your papers yet. Later, at your internship and job interviews you will have to explain this sabbatical. Also your new employer may want to check up on you with your last employer. So do not leave in haste. Unless, of course, you want to travel or do something constructive that you can explain at your job interviews in the future. To give you a

Things they don’t tell you: Reapplying Re-applicants are not only welcome but are looked upon very favorably. Due to the competitive applicant pool and the number of applications every year, many fine individuals are rejected. In a majority of cases, these applicants are placed on the waiting list and subsequently given a negative reply. Schools appreciate that the applicant wants to give it a second try and go through the process all over again. In fact many re-applicants are admitted. However, this is .), not because they are preferred but because they’ve spent more time on the application (had a better foundation for their essays given the first application, had more time to get letters of reference, etc. 48

The MBA Career Guide

Application Basics

head start at school, this is also the time to start reading up on some courses that you will take. The Waitlist– A Glimmer of Hope A waitlist only prolongs your wait for a final decision. It is an anxious phase for any applicant, especially if she is waitlisted at her dream school. No matter how much number crunching and speculation you indulge in, there’s no way anybody can predict with certainty your chances. So you need to just wait it out. Schools ask you if you would be interested in staying on their waitlist. You need to write back telling them if you want to withdraw or still stay on the waitlist. Schools usually take a re-look at applicants from the waitlisted pool to make final offers. So you can help them help you. Write an email if there is any additional information that you can add to your application – a promotion or an award since you sent in your application, a job move to a better profile. However, before sending such an email across, check with the school if they would accept or consider such material. Most do. If you know a second year student or an alumnus who is active in the school and they know you very well, ask them to write a page of recommendation – assessing your candidature. Sometimes you have to make the most difficult decision of all – a financial one. After accepting and paying up for an admit, you receive an intimation from your dream school asking if you are still interested, or you receive financial aid from a school other than your dream school in such cases, the choice is only a financial one wherein you will have to forego the nonrefundable deposit. A Deferral – A ‘Comma’ in the Path to your Dreams Many students choose to defer their admission to a school. There may be The MBA Career Guide

Things they don’t tell you Start researching career options before you get to school. Study ahead on the quantitative subjects, like finance and statistics. The pre-term review classes are a great way to get a head start. Calculus and statistics along with accounting and finance courses for those of you with no accounting experience is recommended. It’s a great way to get to know your classmates before school begins, because once school starts and classes kick in, you sometimes get bogged down in the work and don’t meet as many people as you can at this stage. various reasons for this: financial limitations, visa rejects, personal problems or at times simply because they are expecting an acceptance from their Dream School but want to secure their admission somewhere. Whatever, your reasons for a deferring your admission, introspect on your choice to defer the admission. Many students who deferred their admission to schools in 2006 paid a heavy price when they pursued their MBA one year later, right in the recession’s worst phase. If finance is a problem, then understand that the School will only increase its tuition fees the next year; so unless you are expecting a windfall gain, ideally try and be realistic about your financial situation. If you are facing repeated visa rejects, analyse the reason for the rejection. In such a case, instead of hanging on to the school in question, see if you can look at a school in another country. Rejection: An End or A New Beginning? The first thing to remember is that the school has not rejected you but your application. It’s been a few weeks since you sent in your application, so take a look again. See if you notice anything.

Most students get an inkling as to what must’ve gone wrong. After all, one does know when one hasn’t done a perfect job! You also don’t need to lose hope because a majority of applicants get in at the second or even third attempts. Re-applicants usually make it because they know the process better and have more time and experience to work better on their essays and interviews. Most schools give feedback on your applications after the entire season is over. So write a polite email to the school asking for a time when you can call. Don’t argue with the person giving you the feedback. You may or may not be speaking to the person who was the reader. Anyway the decision is never made by a single individual. Listen to the feedback and make notes. After the call, flesh out the points and make a page on the feedback. Some schools will email you a feedback. Use this positively and actively work towards filling in the gaps. Keep up the research and take a re-look at your entire application positioning. Reapplication – The Similarities and the Changes Most of the forms remain the same for re-applicants but the essays change. The essays could be “What have you done in the past year since your application and how have you improved your candidature?” You will also have to get fresh recommendations and transcripts. Some schools read your earlier application to see how you’ve improved. Most don’t, they give re-applicants a fresh look. But since you can’t be sure and as your essays and interviews will touch upon your re-application you can’t change your positioning too much. But definitely fine tune and mould it better. Remember, you have one distinct advantage over other applicants – the very fact that you are re-applying shows your passion for the school. MCG 49

Application Basics

Interviews: An Opportunity to Project the Real ‘You’

or most international business schools, the interview is the second step of the selection process. All interviews last for 30 to 60 minutes. Interviews are taken by three sets of people – admissions staff, second year students and alumni. You can also choose to interview on campus or at a hub or with an alumnus in a city close to you. On campus you would either meet second year students or admissions staff; a hub is generally a city where you meet the admissions officers. A panel or an individual could take these interviews. You could also opt for telephonic interviews though these may happen late at night. In this case, you need to preferably give a residence or mobile number.

Before an Interview • You need to get all information possible on the school. • Be thorough with your résumé and your career path. • Walk in at least 15 minutes before the appointment. If you are traveling to another city for an appointment, plan an early arrival; if possible arrive a day earlier. If you have two or three interviews, with different schools, lined up in different cities, keep at least a day or two between each. Carry your notes on the school/s and a copy of your application packet along with the telephone numbers of your interviewer and the address of the venue/s. • And most of all, be confident. Every interview is 80% confidence and 20% information. Remember that there is a thin line between self-confidence and arrogance — don’t cross it. Be polite to all you meet. At the interview • Be ready for answers to anything that you did from the age of 18. The interviewer may or may not have read your application. Since you have already done the introspection and positioning while writing your essays, you should not have any problems facing questions. The difference is that at an interview, you have to be spontaneous.

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Application Basics

• Lead the conversation — whether it’s dwelling on something on your résumé or phrasing what you say to drive attention to something, it’s your interview. All the interviewers want to do is confirm that the applicant they chose (based on the application) is the right one in person as well. • You could also be asked to name other schools that you have applied to. Have good reasons for choosing them on your list. Interviewers are interested to learn your reasons for choosing a particular school and your shortlisted schools justify your choice to pursue an MBA. • Pointed questions on your résumé are the toughest to answer. For example, explaining a sabbatical or a low academic GPA (Grade Point Average). You will have to handle these questions without getting flustered. Be mentally prepared for these. The questions will

be well meaning and it’s either your résumé or your statements that will lead the interview. • Speak up and bring your entire application alive. You will be able to do this if you have worked meticulously on your positioning. Be prepared for questions on your leadership potential, teamwork, goals, ethics and flexibility.

Criteria Academic Ability

Check Point Factors influencing college choice

Key Interview Check Points Comments This will tell them what you were at 18 and they can see how you have grown to be who you are today.

Rigor of undergraduate major Inconsistencies in career and major

This will tell them if you were truly interested in the subject and whether you went beyond the curriculum prescribed. Gives them an inkling of what makes you choose an MBA. This can be a touchy question. But be honest. If you have done anything specific with your time, mention it. They know you learn in any situation.

Career switchers need to be very well prepared with reasons for the switch and show some inclination in terms of reading up on the field. So, if an engineer does not stay abreast of finance news and cannot discuss the basics but says she wants to switch to finance, it would not go down well. MCG

Factors influencing career choice

Work Experience

There’s nothing wrong with doing any kind of job but you not only need to enjoy it but also add value to it. It should also be consistent with your studies and if it’s not, then be clear about your reasons. Interviewers expect an honest reply - so if you had a financial problem and thus took up a job instead of pursuing a masters then you can be upfront and tell them how you stay in touch with your subject and how you came about making a decision on pursuing an MBA. Teamwork-related chalThese would come up no matter which industry and where you are on the hierarchy. What is lenges important is how you dealt with it? Were you the diplomat or negotiator or catalyst or leader? Progression of responsibility If you are good at your work, no matter what work, even in a 2-year span there would’ve been an increase in responsibility. This does not necessarily mean a promotion. It could also mean going beyond your specific job profile. Leadership Experience Again there would be situations not just at work but in your social or personal life where you shine through as a leader. The interviewer can then gauge your leadership potential. Expertise No matter what your undergraduate subject, you can pursue an MBA. An MBA can work in any field but every MBA needs to have some technical knowledge where he is an expert. You can tie in your expertise with an MBA to forward your career goal. How you do it or diverge from it and still chalk a career goal is what interests your interviewer. Explanation on the gap between jobs

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Be honest. Interviewers know about lay offs and down markets. What they want to see is how you faced an adverse situation. And more importantly what you learnt from it. 51

Application Basics

Personality

Emotional intelligence

All through life there would be situations which are difficult to get out of and handling the situation well requires more than professional experience. People skills in today’s world are far more important. Extracurricular commitments This makes you a well-rounded personality. But if you haven’t been a regular volunteer then, be honest. Maturity You should be able to list your strengths and weaknesses and talk about how you’ve grown as a person through all that life put to you. Creativity This shows your ability to think out of the box. What have you done differently? Sense of humor Analytical thinking Ability to learn from experience Self-confidence

Others

Life balance / the width of Interest Degree of readiness Overall positivity & persuasiveness

This will come through in the way you speak. Be your natural self. If you are the serious quiet type, then so be it. All kinds of personalities succeed in business and your interviewer knows it. This need not be a mathematical situation, but a real life problem that evinces your sharp intellect and ability to analyze a situation. You could cite an incident where you made a mistake and another where you have used your learning, from the previous instance, to succeed. Everything from your body language, your handshake, the way you speak will exude confidence. So feel good from within and watch yourself glide through the interview Some alumni interviews may go beyond business & academics into other areas of interest – physics, management theories. Obviously this will depend entirely on your interests matching the interviewer’s. This is the “why now?” question. More like “how now?” though. Your answers – levelheaded solid reasons is what is required here. If you think through all the above areas and have been honest, you will be spontaneously persuasive because you believe in yourself. Sample Interview Questions

GENERAL 1. Walk me through your résumé, starting with your choice of college 2. Tell me about yourself 3. Talk about the decisions you made to get to the point you are at. WORK EXPERIENCE/CAREER GOALS Job Role Transitions 4. Walk me through your post-undergraduate work experience and describe the transitions you’ve made. 5. How did you move to each of your jobs, and why? 6. What is your job description? 7. How has your work experience changed how you perceive things today? 8. What made you choose your present firm? Career Goals 9. How does your current job relate to your career goals, where does an MBA fit in? 10. Where do you see yourself in 5 / 10 years? 11. What are the future trends in your business?

12. What are your plans immediately after getting an MBA? 13. What are your long-term career goals? 14. Tell me more about your business plan and how you think it will be effective? (in case your career goals are entrepreneurial in nature) 15. What are your plans if you’re not accepted into an MBA program of your choice? Conflict Management 16. Tell me about the person with whom you have least enjoyed working. How did this relationship function? 17. What are some of the frustrations/rewards you’ve experienced as a manager? 18. How do you vent work-related stress? 19. Tell me about a time you faced conflict and how you resolved it? 20. Describe your ideal work environment. 21. Did you face a skeptical and angry senior manager and how did you deal with that situation? 22. D escribe a negative situation dealing with your subordinates. How did you handle it? 23. How do you deal with clients that are uncooperative?

The MBA Career Guide

Application Basics

Teamwork 24. What role do you usually take in a team setting? 25. Describe a situation where you were the team leader, and had to face a difficult situation. What factors were involved, and how did you resolve it? Finally, what did you learn from it? 26. Tell me about a team experience that was a failure. Accomplishments/ Success 27. Of what accomplishment at work are you most proud? 28. How do you define success for a company? For yourself? 29. What do you enjoy most about your job? 30. Tell me about a time when you faced an ethical dilemma. Leadership 31. Tell me about a time when you exhibited leadership. 32. Tell me about a specific situation in your professional career where you solved an important problem. 33. Of what leadership accomplishment are you most proud? 34. Tell me about specific situations in which you’ve had a leadership role. 35. Describe a situation wherein you had a positive impact on the team. 36. How would others describe your leadership style? Would you agree with this assessment? 37. What is your leadership style and give an example of when you’ve used it? 38. Why MBA? / Why now? / Why this particular school? 39. Tell me about the decision to get here – to apply for an MBA. Why now? 40. Why do you feel you are a good fit for the school and vice versa? 41. What can you contribute to the school? 42. What would you do at the school outside academics? 43. What other schools are you applying to? 44. What would you concentrate on at the school? 45. What is your backup plan if you don’t get admitted this year? PERSONAL QUALITIES 46. What about your background would make you a contributing member to our community? 47. What role do you usually play in group situations? Give some examples. 48. What happens when you feel strongly about an idea that a majority of your group is against? 49. If you suddenly had an afternoon off, what would you do with it? 50. In what non-job related activities do you participate? Describe

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your involvement. 51. How would workmates/ friends/ subordinates/ others/ family describe you? 52. If two managers were discussing you, what would they be saying? 53. What do you get out of your extracurricular activities, in terms of personal development? 54. What are the books that you are currently reading? / What’s your favorite book? 55. What is your most significant development need? 56. After your two years at the school, what would your classmates remember you by? 57. What makes you unique? 58. What is your best play? Which role would you most enjoy playing? 59. What are your strengths and weaknesses? 60. Describe a great leader that you know. What qualities that you’ve just listed do you wish you had more of in yourself? 61. What would you consider your dream opportunity? (professional or personal) 62. What was your best mistake? 63. What is the one and only thing that you want me to know about you? 64. Assume you’re a borderline candidate. Give me your 2 best reasons to let you in. 65. If you could choose the other members of your learning team, what personal qualities would you look for? 66. What would be the most challenging thing for you once you enroll at the school? 67. What professors at the school are you most interested in studying under? EDUCATION 68. Why did you go to school x, why did you major in your field? 69. What kind of things did you do outside of class in college? 70. Tell me about a standout academic experience. 71. What are the important things that you learnt from your work and school experiences. 72. Describe your leadership experience in college. OTHERS 73. Is there anything else you would like the Admissions Committee to know about you? 74. What would you say is the greatest weakness in your application? 75. What do you want to discuss that we haven’t covered or you were unable to cover in your application?

Region Focus

The Destination Dilemma

hile choosing the right school to pursue your MBA is important, equally important is the country in which you plan to pursue your MBA. Where Indian students are concerned, USA has been the traditional first choice. In fact in the 1990s, 70% of Indian students going abroad were studying in the US. The new millennium, however, led to a shift in preference, with Indian students choosing destinations like UK, Canada, Australia/ New Zealand, Germany, Spain, France, Netherlands, Singapore, China and even South American countries like Brazil and Columbia. Today students evaluate B-schools based on internal parameters as well, like the subjects offered, the faculty, the funding available etc. and external parameters like the economic condition of the country that the school is located in, major industries in a country, visa and work permit policies of a country etc. Based on such factors, students choose to study from an Asian school or an American School or perhaps a school in Europe. Here are a few observations on the countries and the nature of their MBA programmes.

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United Kingdom The UK has long been a favourite with Indian students. UK has many Indian students studying Management, Sciences and English courses in their campuses. While US schools concentrate on fouryear undergraduate and two-year graduate programmes, UK capitalizes on a shorter study tenure. Their undergraduate programmes span three years and they came up with unique one-year to sixteenmonth graduate and MBA programmes that were fast paced but still delivered quality education to students (The top 30

Management Schools are located between USA and UK). In fact, UK is famous for its one-year MBA and Masters Programmes in Management. A saving of one year at the undergraduate or post graduate level converts into colossal cost saving (both monetary and opportunity cost) for the student. Also, whereas US rejected students with less than 16 years of education at the undergraduate level, UK universities and schools have always accepted 15 years of education for entry in their graduate programmes. As this is identical with the Indian education system (especially for nonengineering students), UK is sometimes considered a more viable study destination. However, in recent years, UK has changed its Student visa (Tier 4) and immigration rules tightening some entry requirements. The new changes are as follows: â&#x20AC;˘ Students will need to have English ability just below GCSE in a foreign language to gain entry to the UK on a student visa. This will cover those who wish to study English in the UK and those who wish to study at below degree level. 55

Application Region Focus Basics

• Students will only be able to gain entry to A levels or equivalent courses if the college or school is included in a list of “most trusted institutions”. There will also be stricter measures in place for private institutions to be included in the list of “most trusted institutions”. • If a student is studying below first degree level or on a foundation degree course she will only be able to work 10 hours during term time instead of the previous 20 hours. • Students will not be allowed to bring their dependents if their course duration is less than six months. Since March 2009 all foreign students are required to be sponsored by a college licensed by the UK Border Agency. They also need to show that they have sufficient funds to support themselves in the UK. The number of institutions able to sponsor students has gone down from over 4,000 to about 2,000 now. The above measures have been introduced to filter the quality of students that come to UK and should not affect genuinely deserving students going to the UK for higher studies. Canada Canada has both good schools and a flexible education system that allows easy access to Indian students. Moreover, Canada is 20% cheaper than the US in terms of both living and study costs. Canada attracts Indian students by offering scholarships and tuition waivers. A special Canada Indian Education Council has also been set up as a non profit organization to operate exclusively within the burgeoning Canada-India education corridor. Canada has a huge demand for courses like engineering, business, Information Technology and computer science. In recent times, there has 56

been a lot of interest in Animation and CPL (Commercial Pilot License) or Aviation programmes. Canada is one of the best countries to learn animation. Most animation programmes are diploma programmes from accredited schools or universities, and students can be rest assured that these courses are recognized all around the world including in some Commonwealth countries. Although Canada has two official languages English and French, students from all over the world prefer Canada for its absolute English-speaking atmosphere. There is one important aspect that works as a ‘pull’ factor in attracting Indian students to Canada. While USA and UK have adopted strict visa and immigration measures, Canada has kept its immigration policy open and simple. There are some distinct advantages in the rules that apply to Student Visa holders in Canada • Students and their spouses or common-law partners can work while the student studies, through various work-permit programmes available to international students.

• Students can work after their studies are completed through the PostGraduation Work Permit Program. The programme allows a student to gain valuable Canadian work experience after she has completed her studies in Canada. Under this programme, a student can work full time for a period equal to the length of his study programme, the maximum being a period of three years. Canada also has an edge over the other study destinations for being a safe country with good living standards and society. In fact, in all education fairs, Canadian schools endorse Canada as a place ‘where you can study and have a good life’. Australia/ New Zealand Australia experienced a spurt in Indian student numbers after US and UK restricted their student visas in the aftermath of 9/11. It was especially during this period that Australia and New Zealand both aggressively endorsed their schools and universities to attract international students, especially the Chinese and the Indians. Just like the UK, The MBA Career Guide

Region Focus

Australia also offered English Language Intensive Courses for International Students. Australia further expanded its scope by offering vocational and technical courses in various streams right from landscaping to hairdressing. Students could study A to Z courses in Australia for a duration that ranged from months to years. While offering a bouquet of programmes, Australia adopted a flexible visa and immigration policy. Jobs were easy to come by and the admission procedure was simple and fast. In fact Australian schools brought in the concept of ‘Spot Admissions’. Thus throughout this decade, Australia was a ‘hot’ study destination. All was well, till about a year back when Australia faced a lot of flak following the murder of an Indian student on his way to work. What followed was a string of media reports, some dug out from the past, some true and some predicting an unsafe future for Indian students in Australia. Suddenly Australia became this ‘unsafe’ place for Indian students. The fear psychosis resulted in a 50% drop in student visa applications to Australia in 2009. Reacting to this

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drop, Australia (which was earning AUD 70 billion in international student revenues) reassessed its education policy and immigration rules and made it stricter, leaner and compliance driven. These were some of the changes: • Under the ESOS (Education Services for Overseas Students) Amendment Act, the Australian authorities have asked all education providers to re-register themselves with the Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS) by 31 December 2010. • All education providers have been asked to put a list of their approved education agents on the school website. • Hundreds of schools in Australia, which were dubious and set up for shoddy immigration reasons, were closed immediately without notice and their licenses were cancelled. • In terms of immigration laws, a new Skilled Occupations List (SOL) has come into effect from 1 July 2010. According to this list, the number of occupations (required to

get permanent residency status in Australia) has been reduced from 450 to 150. The new list does not include programmes like hair dressing and cookery. This move will ensure that genuine students come to Australia for higher studies. The above measures ensured that Australia was back in the saddle as a reliable and quality study destination for international students. Australian authorities have now ensured complete safety to Indian students. Special counseling desks have been installed at major Australian airports to provide guidance to Indian students along with special brochures and literature to acclimatize students to Australia and all local police and security have been asked to be more sensitive and expedite cases involving attacks on Indian students. Asia (India, China, Singapore, Malaysia, Philippines, Japan) The Asian region has got it all right and is brimming with academic excellence! In spite of political tension in some Asian countries, the Asian region has experienced a stable and strong economy,

Application Region Focus Basics

which has, to a large extent, shielded itself from the current economic crisis. With reasonably sound infrastructure, availability of low-cost resources, an unsaturated market and steady flow of investment (FDI) the Asian continent has become a force to reckon with. Recessionary winds being strong in the West, the new slogan is definitely ‘Go East’. The West is suddenly interested in business models employed in India, and China. Both these countries along with Singapore, Japan and Malaysia are financial and commercial focal points in the South-East Asia region. What attracts students to the Asian region is that the cost of education is half that of what one would incur in USA or UK. Considering the region’s potential, many US and European schools have set their campuses in the Asian region. For example, Singapore has prominent schools like INSEAD, Chicago Business School and Massachusetts Institute of

Technology. UK’s University of Nottingham and Monash University, Australia have also set their bases in Malaysia and India is in talks with schools in US, Australia and UK to set up several schools under the aegis of the Foreign Education Institutional Bill. Also many schools in the Asian region are consciously ensuring that their schools demonstrate good diversity. Schools like CEIBS, ISB and, Hitotsubashi ICS in Tokyo have students from over 20 countries and an all-English curriculum. Schools like these are becoming more and more attractive to students looking to gain insight into the Asian markets, and their location is a part of their allure. Dubai Dubai is a cusp between the West and the East. Its unique geographical position makes it an important destination in terms of business, trade and commerce. Over the past two decades, Dubai has developed itself as a confluence for businesses the

world over. Having deploying the best infrastructure and built some amazing architectural wonders, Dubai had all the ingredients to make it an important business hub. The education institutes followed and Dubai now houses major schools like INSEAD, Chicago, S.P Jain, Birla Institute of Technology etc. For Indian students, Dubai is like living in India away from India. 42% of the population in Dubai consists of Indians. Also the visa procedure for Indians is relatively easy. Dubai has become a hotbed for Indian students wanting to pursue higher education in the field of business and engineering and the current financial tension in Dubai is in no way deterring the number of Indians wanting to study in Dubai. European Union France, Germany, Italy, Spain and Netherlands are some of the favourite study destinations of Indian students within the European Union. Germany is in great demand for engineering courses given its focus on the automobile engineering sector. Well established B-schools in Europe like INSEAD, SDA Bocconi, IESE Spain, Erasmus Rotterdam etc. are also attracting a lot of Indians. There are two aspects that make Indians shun Europe as a destination: one, the cost of living is very high in Europe and the possibility of getting scholarships is also minimal; two,all said and done, the language barrier works as a major impediment. The recent economic crisis in Greece that subsequently spread within Europe has worked as a deterrent. However, the fact remains that Europe offers some of the finest business degrees, especially specialised MBA programmes like luxury management, fashion management, sports management and wine management. There are also certain sectors that Indians can target within particular European States. For example, Spain and Italy have growing The MBA Career Guide

Region Focus

numbers of finance and technology companies, as well as a growing consulting industry. France, and to some extent, Germany are calling for more and more MBAs as their strong industrial and technological sectors develop further. United States of America A major reason for the rise of international student enrollment in US schools was the boom of the IT, finance and service sectors. Hundreds of thousands of students opted to study in the US given the job opportunities in top US companies like Microsoft, Dell, Apple, Barclays, CITI, Merrill Lynch and CISCO. The bubble burst in 2007, when US faced one of its worst economic recessions since the 1930 Great Depression. With crunching funds, universities had to rollback the scholarship funds that it offered to students. Placements at US B-schools were also affected with students receiving lesser offers to choose from than their counterparts in the previous years. In 2009 the US Congress barred firms receiving government bailout from hiring Indians and other foreign workers through the skilled worker visa (H1-B) programme, if they were replacing American workers. As Indians accounted for a majority among H1B visa holders, this policy hit them the most. The US economy is now slowly recovering. US universities and educationists are increasingly establishing intellectual links with India and China. Examples under this include the collaboration between MIT Sloan and ISB Hyderabad for exchange of faculty and students, the opening of a research centre in India by Columbia University in March 2010 and the signing of a MoU between several top Indian schools and Penn State University. US schools and institutions also have plans to further their association with India under the aegis of the Foreign The MBA Career Guide

Educational Institutions Bill passed by the Government of India. Considering these facts, US still remains a study destination to reckon with. The fact that US schools still top major world school and university rakings for science and non-science streams is enough to attract Indian students to US educational institutions. In 2010 more than 100000 Indian students studied in the US. Science and Business were the two most popular streams of study for Indian students in the US. Indeed Harvard, Stanford, University of California, MIT, Wharton and Yale are one of the finest universities in the world. The deep focus of US universities on â&#x20AC;&#x2DC;researchâ&#x20AC;&#x2122; ensures that they attract the best and the most intelligent minds across the globe. Today the US churns out the maximum number of research and PhDs the world over. Money is another draw factor. US schools receive rich endowments from corporate and alumni. No wonder then that students wishing to pursue their Masters

throng to US schools due to the presence of ample tuition waivers, scholarships, fellowships and assistantships. Conclusion The world is shrinking and schools and universities the world over are aware of this fact more than ever. Schools all over the world are not just talking of attracting students to their campuses, but are taking their campuses to the students. Hence many UK, European, Australian and US schools have stretched their tentacles all round the world. Thus we have an IESE Business School in Barcelona, Madrid and New York; Hult International Business School in Boston, Shanghai, San Francisco, Dubai and London; S.P Jain Institute of Management in Mumbai and Dubai etc. And if future trends are to be believed, physical classrooms will be a thing of the past and virtual classrooms will take over. Whenever that time comes, the destination dilemma will be the least of student concerns. MCG 59

Application Region Focus Basics

The Dynamics of Financing International MBA

ost is an important consideration in all our material decisions and an MBA education is no exception to this rule. Students should do a thorough cost benefit analysis, while short listing schools. Factors like the brand equity of the school, cost of tuition, living costs, expected average starting salary post MBA, scholarships available etc. are all considered before making a final selection. Cost Type Cost Head Pre-Application Test Cost Costs

Application Costs

Admission Costs

Explanation The cost incurred to take the GMAT®, GRE ,TOEFL®, IELTS or a similar entrance examination needed for admission to the programme. Add to this cost, the cost of any training/ preparatory material that you buy to train for the tests. Additional The cost involved in sending your GMAT®, GRE, TOEFL® or IELTS Score Reofficial score reports to additional schools besides the ones that you ports send to while taking the test. Application This is the cost incurred in sending an application to a single school. Fee Most students apply to an average of 5 B-schools. Hidden Costs Cost of internet, travel, paper, stationery, availing transcripts, loan processing fees, traveling for interview etc. incurred during the application process. Programme Cost of the programme that you enroll for. This varies largely dependTuition Cost ing on the school, programme type and the reputation of the school

Approximate Cost (in US$) GMAT® 250 English Test (approx) 165 Test Coaching 100 28 per school for GMAT 17 per school in case of TOEFL Approximately 100 to 200 per school Approximately 200 Approximately 50000 p.a. for top programmes and 20000 p.a. for middle tier schools. The MBA Career Guide

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Room/ Rent

Cost of housing and rent/ accommodation that you require while pur- Varies largely depending on suing the programme. This varies depending on the duration of the school location and personal programme, location and the type of housing preferences

Living Expense

This includes expense incurred for food, travel, telephone, entertain- Varies largely depending on ment and other living expenses. . school location and personal preferences Books, This is an add-on cost to your tuition cost but is usually not consid- Usually ranges between Computer ered a part of tuition. This is the cost incurred on study material and 1000 to 5000 and Miscella- other accessories that complement your studies. neous items Health The health insurance premium may vary depending on the policy that Approximately 2000 p.a. Insurance you take and the company issuing it. Visa Cost

The cost of obtaining a student visa/permit to pursue your studies in Usually ranges a foreign country. $100 and $150

Airline Cost

The cost of travel to your school from India. At times depending on the country that you go to for your studies, you may also have to book a return ticket. Going abroad means shopping for some necessary and new stuff. Winter clothes, jackets, a good phone, shoes, a sturdy bag, some basic cooking utensils etc.

Departure Expenses

While planning your education budget, there are four aspects that should be taken into consideration: • Different expense/ cost heads to be considered • The proportion of different expenses • Sources of finance • The Return on Investment.

between

Cost usually ranges between 800 to 1500 for a one way ticket. Should not exceed $700

computer expenses. The good news is that you easily get external funding to cover such expenses. Cost incurred on food, board, books, computer etc. can be brought down to a large extent by Proportion of Expenses economising wisely. This leaves you Having understood the different cost with only 5%-10% of your funds to fret heads, it is imperative to understand over and there are various sources to the proportion of different cost heads. finance these as discussed in our next Different Costs to Consider Refer to Table 1 depicting the breakup section. One expense that you should While taking a stock of the costs of expenses. never compromise on is the Health Almost 90% of the student budget Insurance. It is advisable to look for a involved, it is best to consider all costs involved from the start to the end and is comprised of tuition, room rent/ good health insurance policy or go for housing expenses and books and account for these. Broadly the the one that your school has costs can be classified as Prelisted on its website. Cost head % Expense Application Costs, Application (Approx) Costs and Admission Costs. The Sources of Finance: Tuition 64% table below gives an indicative There are various sources to Room and Utilities* 20% list of the different cost heads finance your education. Broadly Board, Personal and Others** 9% along with the approximate cost. the funding Books, Computer, Travel, Entertainment 5% Out of all the above costs, it avenues are indicated in the Health Insurance/ Health Expense 2% is best if you accumulate your bar graph below: own funds for the pre-application and application costs. Some of the admission costs like the visa and departure expenses should The MBA Career Guide

also be ideally self-funded. This comes to approximately $1500 . For the other cost heads, one or another form of external funding can be relied on.

* Includes cost of housing and utility bills like water, maintenance and electricity **includes cost of food, laundry, telephone, gas, groceries, personal care and other miscellaneous living costs. Note: Pre-application, application, visa and departure expenses have not been considered in this table as they are more or less static and need to be funded with your personal funds.

The above diagram depicts the percentage of aid that you may expect from different sources. This is only an indicative 61

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diagram applicable for a student with decent academic record, having a reasonable extra-curricular record and work experience. The actual proportion of financial aid may differ depending on various parameters such as your profile, GMAT score, whether your school permits on/off campus jobs, whether you can avail of parent funding etc. For example, if the student is exceptional in both academics and extra-curricular activities and gets a full tuition waiver from school, his financial liability is reduced to that extent. All said and done, students can expect a major part of their student budget to be financed by education loans. Loans with or without co-signer are available from both Indian and International banks. Private financial institutions like Sallie Mae International also deal in student lending and finance. The next best source of funding is your personal savings. Most international MBA students have a few years of work experience before they apply for their MBA programme. Thus, they have the scope to build a sizeable kitty before they start the 62

MBA application process. You can also combine your personal savings along with your parent’s funds to finance almost 20% to 30% of your student budget. It’s best to have more of the former so that you are less dependent on the latter. Savings includes bank savings, Provident Fund, Public Provident Fund, Fixed Deposits, Matured LIC policies, Mutual Funds, Postal Savings, Government Bonds, and Recurring Deposits.

Scholarships, Fellowships, Tuition waivers from private sources as well as the School provide other promising sources of financing your MBA. There are numerous scholarships available from the Government; private trusts like the Jawaharlal Nehru Memorial Trust, Lotus Trust etc.; corporates like the Tatas and Birlas, religious institutions, education bodies like USIEF (United States-India Education Foundation) and British Council and Non-Profit Organisations. Students need to apply to these scholarships as per their deadlines keeping in mind their eligibility criteria. Financial Aid from the School is usually in the form of Dean’s scholarships, Fellowships, Merit Scholarships, Need Based Scholarships, Tuition Waivers and Loan Forgiveness Programmes. The next best source of funding especially for the second year of your MBA programme is your summer placement. The median salary for a summer internship in 2010 at some of the top B-schools was $5000 per month. Such a salary over 4 months covers part of your living expenses for the second year and in some cases, also

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gives you an indication of any future placement prospects. Thus securing a good and fruitful summer placement is an important aspect. On and off campus jobs also help in financing your education expenses. Getting such jobs however depends on your school policy and the work permit rules applicable in the country you study in. Most top schools do not allow students to work as the class schedules are hectic and students are expected to do intense project work with their cohorts after class. Many schools in Canada, Australia and the UK are open to students working while studying. If you exhaust yourself of all the above sources of financing and still need some money to finance your education, then you may look at Personal Loans. However, personal loans turn out to be very expensive with an interest rate as high as 18% and should therefore be the very last option. Some MNC banks The MBA Career Guide

in India also give another type of loan known as Mortgage loans to students for education purpose. These loans are given to individuals against collateral or on the basis of the collateral security provided by the studentâ&#x20AC;&#x2122;s parents or close relatives. Such loans have a lesser interest rate than personal loans (about 10% to 12%). The loan has no holiday and the borrower needs to pay the Equated Monthly Installments (EMIs) even during his study period. The Return on Investment An MBA degree has monetary and non-monetary benefits attached to it. The brand equity of the school, the rich network of faculty and students who embellish your thinking and the business acumen that you will develop during your course are some of the nonmonetary benefits of your MBA. These are of immense value in the long run. The monetary benefit can be calculated

in terms of the Opportunity Cost and the returns on Investment. Opportunity cost in simple terms is the benefit (in this case, your salary) foregone (in your current job) to do an MBA. However, to calculate the real opportunity cost you also have to add the loan liability to the salary forgone. For example, if you have resigned from a job with CTC of `5 lakhs p.a. and have opted for a 2-year course costing `10 lakhs, at the end of the course your opportunity cost becomes about `22 lakhs (this includes 2 years salary of `10 lakhs, plus the loan of `10 lakhs and the interest of about `2.4 lakhs (at 12% p.a)). Thus at the end of your programme, you need to ensure that you land up with a job offer that covers at least this cost in the next 3 years. These are the returns on your investment in monetary terms. The non-monetary dividends, as mentioned above will however accrue for life.

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When should you start? Earn wisely, spend wisely and save As early as possible! Most students wisely as you go through the journey of start planning their finances only after your MBA. they secure admission. By doing so, such students miss the deadlines of some of the can do in a small avings that you S t an rt po will result albeit, Im e ve private scholarships. sa u Som yo at th in y co an ocean and ever You need to show Small drops make will end up saving adequate funds in your s in advance. fortune that you at least 6-7 month ps hi test, rs la ho sc al rn , cancellation of bank account to satisfy AT GM e • Apply for exte th ng retaki additional costs related to the visa officers of ese come with an th l Al . es • Try to avoid or sc of st, cancellation ditional. your financial stability. rescheduling of te sted costs are ad Po e. lin on s rt po ee of ur score re to five schools fr Consistency in your es or sc price tag. View yo AT GM al ur offici u send your tion of sending yo financial inflow and l schools that yo na tio di • Utilize the op ad y An f. AT test itsel same applies in financial outflow is what 8 per school. The cost during the GM $2 of ge ar ch l na at an additio and PTE. the visa officers look for. scores to will be like TOEFL, IELTS s st te cy en ci ofi ish pr cording to this The idea is to have all papers case of your Engl r Programme. Ac ve ai W e Fe AT GM the GMAT test to school is part of in place, steadily build your t a fee waiver on • Check if your an gr n ca s ol ho icipating sc the school. savings, ensure that you have programme, part ren who apply to ild ch d ge ta an dv disa aspirational, 3 a good credit history, and 10 economically ve short-listed 2 ha u yo If . es lin ad ols in the ols in the early de brief your likely guarantors/ aspirational scho ur yo to y pl • Apply to scho ap to ols, you can schools; it’s best parents/ guardians about your aspirational scho ur profile and 2 safe yo to it e ak m ds. In case you Most schools also education plans. This ground early action roun d profile schools. an fe sa ur yo to ncial aid. of applying lines to avail fina work done early on in the ad de n save on the cost io at ic pl ap y in the first two e of the MBA application cycle will save time advise you to appl ur city through on yo ts si vi ol ho sc e if you can apply when th n fee for students and also boost your confidence. io at ic pl ap e th • Check if you f ve of s making the rtain schools wai ining with school cl de fairs. At times, ce er ev w ho is fairs (this trend Taking your Family Along apply during such mandatory). ocedure as early Taking your family (a spouse and a online application mplete the visa pr co to st be is it , e to avail of re admission child) with you abroad is an added ts well in advanc ke tic r • Once you secu ai ur yo well and book ount for students financial responsibility and you as possible, plan s any special disc ve gi ne rli ai ur yo points if you Check if need to arrange money to support ur frequent flier yo heavy discounts. sh ca en to e also a good tim your family while you pursue your traveling. This is these. y abroad and need education. On an average, you have accumulated u are going to stud Yo . ng pi op sh ur . For e.g. board with yo need to show enough funds to u finish your MBA yo ce on • Don’t go over r te la r cell phone, basic ep the luxuries fo cover the living expenses of your ities like a good basic things. Ke ss ce ne ng si ha rc s, watches, spend on pu items like clothe dependents while you pursue your ng si ensure that you ha rc pu le hi etc. Economise w studies. In such a case you have to cooking utensils is Home made food account for the living costs of two toiletries etc. on the food bills. n ca u yo as h uc and save as m more people besides you. So, if you alth. • Learn to cook as well as your he et ck po new country ur yo th bo are taking your family to Australia, best for . Yes! You are in a al im in m e th to nses a myopic outlook tertainment expe you need to show a minimum of AUD er, it will be really • Keep your en ev w Ho . es ac pl ur well laid visit new 4,200 for your spouse, AUD 2400 for e drill a hole in yo ns pe and would love to ex t en nm ai u let your entert the first child and AUD 1800 for each on your part if yo subsequent child in the form of living study budget. expenses per annum. 64

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Student Visas

visa is a certificate that is put into your passport or travel document by the concerned immigration authority. It gives you permission to enter a country for a specified duration and for a specific purpose. The purpose can range from employment, work related assignments or study to a mere holiday. Students who are planning to go for further studies abroad must know the various formalities that surround visa procurement for educational stints in foreign lands. The very thought of sorting out these formalities can at times be a very intimidating proposition for many. But it is just a matter of knowing how to go about the entire process and what the urgent documents needed for student visas are. This article will cover six destinations which are highly popular among students for further studies namely UK, US, Australia, France,

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Singapore and Hong Kong/China. One important aspect to be noted here is that typically these nations would want a student visa applicant to have first obtained admission to a programme in any one of their colleges before applying for visa clearance. The second aspect is of finances - they would want to make sure if you will be able to sustain yourself in their nation and also pay for your study. There are other aspects too, for instance, some countries very closely scrutinize applicants to rule out their

chances of being a potential immigrant to their country through a temporary educational stint. Naturally, the documents sought or the questions asked in the visa interview are mostly directed at ensuring the above. With every country, finer variations in criteria exist and are updated from time to time. The United Kingdom If you have obtained admission to study in a full time programme at an educational institution in the UK, you need to obtain a student visa. Under the points based system (PBS) followed for immigration procedures in the UK for people interested in entering the country for study or work, such an individual would have to accept guidelines under Tier 4 (INF 29). Tier 4 (General) Student is for people coming to the United Kingdom for their post-16 years of undergraduate level education. All Tier 4 students need to have a sponsor. The sponsor would be an education provider offering the applicant a place on a course of study in the United Kingdom. This education provider needs to have registered with the UK Border Agency as a licensed sponsor. The UK Border Agency is the body which issues the visa. The initial submission of the application is done through the VFS Application centers in India. The UK Border agency cautions applicants with the following note: â&#x20AC;&#x153;The organisation that provides your education in the UK must be approved by us. When we approve an education provider, we give them a sponsor license to teach international students in the UK, and we add them to the Tier 4 register of sponsors. When you have chosen an 65

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Basic Steps – UK Visa Ensure that you have an unconditional offer letter from the School Download VAF1D form Fill the form carefully Assemble all other financial documents, academic papers and photographs Remove Demand Drafts for visa fees Schedule an appointment by emailing the VFS application center Before the appointment ensure that your fingers are free from any burns, cuts or abrasions for the biometrics Visit the VFS application center and submit the documents Remove Demand Drafts for visa fees education provider to study with, you should check to see whether it is on the Tier 4 register of sponsors. If it is not on the register, you cannot get a student visa.” (Source: http://www.ukba. homeoffice.gov.uk/studyingintheuk/ quickguideforstudent/adultstudents/ applyingforanadultstudentvisa/). For obtaining the visa, you must be able to demonstrate that you have the tuition fees and funds to support yourself and any dependents that you may have. For courses of up to 9 months’ duration, a student must be able to show that he has the full tuition fee plus £800 as the appropriate monthly amount for each month to be spent in the UK. For a course extending more than 9 months, you will be required to show that you have the 66

first year of tuition fees, plus either £7200 or £5400 depending on where you intend to study. These amounts must be held in your personal bank account for a minimum period of 28 days. The end of that 28 day period must not be more than one month before the date of your application, for which you must show bank statements/ other evidence. All applicants need to produce a Visa Letter. It is important that this contains all of the mandatory information described in paragraph 87 of the Tier 4 guidance. The other important requirement here that needs to be met if one is looking forward to studying in the UK under a full time programme is that at least 15 hours a week must be spent in study. The student must be able to meet the cost of the course, maintenance and accommodation without working. Student visas are granted for an initial period of one year, also usually determined by the length of the programme. To apply for an UK visa, you will require: • The Student Visitor Application Form VAF1D (http://www.ukvisas.gov.uk/ resources/en/docs/1903073/VAF1D) • Your passport, along with a recent passport sized (45mm * 35mm), colour photograph taken against a light-coloured background. Previous passports, if any will also be required. • Evidence that you have been unconditionally accepted or enrolled on a course of study in the UK i.e. a letter from the school or university • Evidence of any previous study or qualifications gained in the UK • Evidence of any English language ability or qualifications e.g. IELTS, TOEFL, PTE Academic • Evidence of the cost of your course

fees. Evidence of all other costs relating to your studies in the UK, e.g. flights, accommodation, food, exam fees, books etc • Financial/ maintenance documents such as bank statements, pay slips, investments, property papers or other evidence to show that your maintenance amount can be paid (study, accommodation etc) • In case of receipt of scholarship from an institute in the UK, proof and details of the same furnished in a letter from the sponsor. • Evidence of any money paid out towards the cost of your studies, e.g. deposit towards your course fees, flights, accommodation. • Evidence of any funds set aside by your financial sponsors specifically to pay for your studies. • Evidence of your financial sponsor’s occupation, income and any savings or assets they have • Relevant diplomas or educational certificates The visa application form is assessed by the entry clearance officer. The decision is made using the application form and the supporting documents. For Indian students visa applications can be done through VFS. It is mandatory for students to schedule an appointment with the closest VFS center through email. Students are not allowed at the VFS center without a prior appointment. For more information, log on to http://www.ukba.homeoffice.gov.uk/ studyingintheuk/. The United States of America International students who wish to study in the United States will generally seek an F-1 (non-immigrant) student visa. There are, however, other visa types that are sometimes authorized for those who study in the USA. Here is a short description of the different visa types that involve study in that country: The MBA Career Guide

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F-1 or Student Visa: This visa is the most common for those who wish to engage in academic studies in the United States. It is for people who want to study at any accredited U.S. college or university or to study English at a university or intensive English language institute. J-1 or Exchange Visitor: This visa is for people who will be participating in an exchange visitor program in the U.S. The “J” visa is for educational and cultural exchange programmes. M-1, : This visa is for those who will be engaged in nonacademic or vocational study or training at an institution in the U.S. Before applying for the F1 student visa, you need to first obtain acceptance from an academic institution in the US for the programme you intend to pursue. This acceptance comes in the form of the authorized I-20 form issued by an authorized university to the admitted applicant. The point to be emphasized here is that only an SEVP (Student and Exchange Visitor Programme) certified school can issue a form I-20 to students who have obtained admission. This would also include information about the SEVIS I- 901 fee that needs to be paid. Once you have got the I-20 form you will need to pay the SEVIS (Student and Exchange Visitor Information System) fee and the visa processing fee. Then you need to make an appointment for the visa interview (the procedure for each of these will differ from one U.S. Embassy/ Consulate to another, so visit the website of the U.S. Embassy, www.usastudentvisa.org) . You must make sure you have all the documentation you need when you go for the interview, including the visa qualifying document (I-20 or DS2019), financial support documents, proof of payment of the SEVIS and visa fees, and a completed visa application The MBA Career Guide

form. It is important to remember that when application for a visa is sent for processing, the issuing authority applies certain fundamental criteria to assess the application. These could be listed as below: } Every student needs to convince the consular officer that he does not have any intentions of staying back permanently in that particular country after completing studies. The applicant must also provide proof that he will be able to afford the return trip home without having to seek unauthorized employment in the US and also that the travel is for legitimate purposes as permitted by the applicant’s visa category. } The US citizenship and immigration Basic Steps – USA Visa Check your I20 to ensure all details are correct Pay your visa fees at authorized HDFC banks branches Fill the DS-160 online application form clearly mentioning the visa category you are applying under. Prepare all supporting financial and academic documents. Ensure that you have removed photographs as per specifications. Schedule an appointment using your HDFC receipts (issued in triplicates) Submit your documents 3 working days prior to your interview appointment. Ensure that your fingers are free of cuts, abrasions and burns before the interview. Attend your visa interview.

service must have approved the school where the applicant has obtained admission as a full time student. } The student must be proficient in the English language. } The student must have sufficient funds available for self-support during the entire proposed course of study. } They should maintain a residence abroad during the course of stay. The final stage of the visa application would be a personal interview at the consulate where you would be granted visa approval. The Visa application form can be downloaded from the US consulate websites – they are the F-1 visa application guide and the F-1 student visa application. The date and timing of the visa interview is arranged through Visa Facilitation Services or VFS where you would need to register and book an interview slot. The mandatory documents required for all non-immigrant visa applications are: a. A fully completed online DS -160 application form b. One recent (within past six months) photograph 50mm X 50mm (2” x 2”) with a white or off-white background. c. The passport should be valid for travel for at least six months after entering the US. The Demand draft details for the various fees to be paid during the visa application for a non-immigrant visa are as follows: } The Application Fee (MRV fee) of US$140 (that is, `6,720) can be paid at a participating HDFC bank in cash or by demand draft favoring “US Embassy - Visa Fees” } A student also needs to pay the NIV L-1 Blanket Petition (Fraud Prevention and Detection Fee) which is US$500 or Rs. 25,000/} Finally the non-refundable and nontransferable logistics fee (VFS Service Charge, inclusive of service tax @ 10% and education cess tax 67

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@ 0.2%) is payable in cash or by DD/ HDFC Bank cheque favoring “HDFC Bank a/c VFS.” The amount to be paid is Rs 374. Please note that demand drafts issued by co operative banks are not accepted. At the interview, you should carry all required original documents, and a photocopy of all US government forms. Documents regarding your finances like bank account statements, pay slips, income tax return statements, property documents and chartered accountant’s statements, or parents’ salary certificates savings, investments etc. could be carried along. For more student related information log on to https://www.vfs-usa.co.in/ USIndia/nonimmigrantvisas _ student. html . Australia A person interested in migrating to Australia for studies will have to apply under a Temporary Visa (Subclass 573) which is for the higher education sector. This visa is designed for international students applying to study in Australia and whose main course of study is either a Bachelors degree, an Associate degree, Graduate Certificate, Graduate Diploma or a Masters by coursework. A student seeking to apply for the visa will be first assessed based on the country from where he/she comes. Each country, across each education sector, is assigned an Assessment Level which is based on the calculated immigration risk posed by students from that country studying in that education sector. These levels came into effect on September 1, 2008 and affects student visa applications made on or after this date. For Indian applicants the assessment level for the temporary visa is four. This information is listed in form 1219i. This information form contains a list of current Assessment Levels for education sectors in Australia’s Student Visa Program (SVP). 68

The following criteria have to be met in order to be considered eligible to apply for a student visa to Australia: a. One must be accepted for full-time study in a registered course or be part of a registered course to be eligible for this visa. A registered course is an education or training course offered by an Australian education provider registered on the Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS). b. One must have enough money to pay for travel, tuition and living expenses for oneself, one’s partner and dependent children for the duration of the stay in Australia. c. Certain health requirements need to be met. The medical examinations for the same can be completed before the visa application is lodged. d. One must have health insurance while in Australia. Health insurance can be obtained through Overseas Student Health Cover (OSHC) which provides medical and hospital insurance. e. Proficiency in English language is the other important criteria for eligibility; here one needs to provide the IELTS score as proof of English language ability. TOEFL scores are not accepted from applicants who are from India. For students who have full funding from their institute in Australia, the guidelines set by the education provider in terms of the level of language needs to be followed. } Letter of offer from the institution or education provider

Basic Steps – Australia Visa Ensure you have an unconditional offer letter from a CRICOS registered school Make a demand draft of the requisite visa fees Fill in the 157A form with all relevant details Prepare all supporting financial and academic documents. Ensure that you have removed photographs as per specifications. Do a Medical from the listed Panel Doctors on the VFS website. Apply with your documents at a VFS application centre closest to you Wait for the Decision In December 2010, Australia relaxed its student visa rules after having followed a strict visa procedure for a few years. As per the new rules, students applying to study in Australia, now need to show a lower bank balance to support two years of study as against three years required earlier. Also account balances of the last 3 months shall be scrutinized as against 6 months. The new rules also widen the sponsor list to include friends and cousins who meet certain criterion. The new visa rules will be applicable from April 2011. The following documents are needed to be furnished along with the application form by anyone who is applying for a student visa: l Duly filled Form 157 A l Visa Application fee payable by bank draft favoring “Australian High Commission, New Delhi” equivalent of AUD 540. l Duly filled form 956 which is an appointment of a Migration Agent Or Exempt Agent Or Other Authorized Recipient. This if you need an authorized person to receive communications about your application with the department.

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} Copies of passport and four recent passport sized photos (The passport photocopies do not need to be certified, if medical examinations have already been undertaken) } Statement of purpose Supplementary questionnaire } “Details of relatives” form (Evidences like birth certificate, marriage certificate etc.) } Financial documents, including evidence of funds held, loan and/or scholarship - evidence of income } IELTS score } Original documents of all mark sheets, certificates, degrees and diplomas. } Reference letter from current employer and previous employer, if employed } Affidavit of support from sponsor } Income tax returns of the sponsor for the last three years

favor of Australian High Commission, New Delhi and be payable at a branch in New Delhi. For applications submitted in India, the VFS service fee needs to be paid which can either be paid in cash or by demand draft, favoring “VFS Global Services Pvt. Ltd”, payable at the city where the application is submitted. The service charges inclusive of tax would be Rs.455. For more useful information log onto http://www.immi.gov.au/students/ France There are three kinds of student visas available, depending upon the length of studies in France as indicated in the letter of enrollment: A Schengen visa (less than 90 days), a temporary long stay visa (from 3 to 6 months) and a one year long stay visa (stay over 6 months).

Getting the Student Visa The process of obtaining the Student Visa is a three-step process; The first step would involve the creation of an online CampusFrance registration file on www. india.campusfrance.org . One may need the help of a Campus France counselor in this matter, who can be contacted at the nearest CampusFrance office listed on the website. The second step involves obtainment of a No Objection Certificate(NOC) though a visa interview by the designated official in certain pre-specified cities. In the third step, following the interview, students are required to submit the passport at the main embassy for stamping. The main embassies are at Mumbai, Delhi and Pondicherry. The embassy where you have to make the submission will be decided by the place where you obtained the NOC. This is guided by the following rules:

The Application fee VFS Global Services Pvt. Ltd. has an agreement with the Commonwealth of Australia to provide Australian visa application services in India and Nepal. Therefore applicants can lodge their visa applications with VFS in person at their nearest of the 10 centers across India and Nepal. The visa application charges for students lodged outside Australia is AUD$550. For a student guardian visa, the charges are same as above. The student visa application charge includes the international education contribution of Australian $115, which contributes to the Australian government’s initiatives to support international education through the activities of the department of education, Employment and Workplace Relations. Visa applications from Indian students are to be lodged with the Australian High Commission, New Delhi, India. The only acceptable method of payment is by bank draft in Indian Rupees only. Demand Draft must be drawn in The MBA Career Guide

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NOC obtained at

Passport Submission at (Embassy) Delhi, Calcutta, Chandigarh

New Delhi Ahmedabad, Pune, Hyderabad, Bangalore Mumbai Mumbai Chennai Pondicherry Documents Required: At the second step of the process, that is the Visa Interview, applicants must have with them the following documents in 2 sets of photocopy, and originals for verification: a. A letter of registration / admission from a French Academic Institution; b. Proof of resources for tuition fees and 500 Euros/month for living expenses for the period of stay (1 year of housing, food, medical expenses, transport etc.); OR

c. d. e. f. g. h. i.

A sponsorship letter for accommodation from the city where you are going for your studies and supporting documents showing availability of a minimum of 250 Euros per month for living expenses; Proof of accommodation in France for the period of stay; A Short Bio-data. passport-size photographs with light background; Copies of your degrees / diplomas a certificates (+2/BA/BSc/BE/MA/ Sc) Copy (first 2 pages) of valid passport or the entire period of stay in France; Air ticket or reservation print-out of air ticket; For short and long duration stay in France, the student should take a comprehensive “overseas medical policy and repatriation policy” for 3 months and a copy is to be attached.

j. A demand draft of Rs 7,000 in favor of “CEDUST” payable at New Delhi. This is the CampusFrance registration fee to be submitted on the day of the visa interview or on a prior date. After the NOC interview, the student will be given a presentation letter and with the same he/she would need to submit the passport at the Embassy on a predefined date. The Passport will be returned duly stamped in 2 working days or a week at the latest. The French Embassy student visa fee is 50 euros (in equivalent Indian Rupees, to be paid in cash at the time of depositing the passport). Singapore The application for a student visa to Singapore is relatively simpler. In this case, the institution where the candidate has been admitted for further studies in Singapore acts as the sponsor and files the applications which are filled by the applicant. As of 1 June 2007, it is mandatory for students applying from India to make an online application for their Singapore Student Visa. It should be remembered that only those institutes which are listed among the Institutes of Higher Learning (IHL) in Singapore can follow this application procedure for their students. New applications for a Student’s Pass (visa) must be submitted at least one month and not more than 2 months before the commencement of the course. Applications are submitted through the Student’s Pass On-Line Application and Registration (SOLAR) system. First the IHL institute will register the admitted student on the SOLAR system. The student is then required to submit an eForm 16: Applicants must have obtained the following before logging into SOLAR to fill the eForm 16 } A registration acknowledgment notice with the login information provided by the IHL; The MBA Career Guide

Region Focus

} Travel document/passport details (including travel document/passport number, date of expiry, etc); NRIC/FIN of parents if the student’s parents are Singaporeans or foreigners who are working or residing in Singapore; } Address and contact details in Singapore (if not applicable or available, please provide the school’s registered address) Applicant’s email address. } One recent passport-sized color photograph (to be pasted on the top right corner of eForm 16) taken within the last 3 months; the photograph should be in colour and must be taken against a white background. Time Taken The total processing time taken would be about 4 weeks. During the July/ August peak period, applications may take a longer time to process. Therefore students are strongly advised to submit applications early. Finally, successful applicants will be issued with an inprinciple approval (IPA) letter by ICA through the IHL and a visa will be incorporated in the IPA letter. For more information, log on to http:// www.ica.gov.sg . Hong Kong Applicants who wish to study a full time programme in Hong Kong are required to apply for an entry permit or a visa issued by the Immigration Department of the Hong Kong Special Administrative Region(HKSAR). Applications looked at favourably include those in which the applicant holds a school acceptance letter to confirm that he/she has been accepted for a course of study, and where the applicant is able to meet the fees for the course, the living expenses for his/her maintenance and accommodation without The MBA Career Guide

working and without recourse to public funds. Some of the important documents required during the application process are as follows: } A duly filled application for Entry for Study in Hong Kong (ID 995A) and ID 995 B(sponsor) form. Having a sponsor in the HKSAR region is important in order to obtain the entry permit or the visa. If the institution where the applicant has been admitted acts as a sponsor, submission of other supporting documents of identification and bank statements for the sponsor is not required } The applicant’s recent photograph affixed on the form } Photocopy of the applicant’s travel document(Passport) containing personal particulars, date of issue, date of expiry and/or details of any re-entry visa held (if applicable) } A letter of acceptance from the educational institution } Photocopy of proof of the applicant’s financial support, e.g. bank statements, savings account passbooks, tax receipts and salary slips [if the sponsor is the educational institution]

Applicants residing in overseas countries or territories may submit their application forms together with the relevant supporting documents and their travel documents in person to the nearest Chinese diplomatic and consular missions in their respective region. Time Taken It will normally take around six weeks to process a visa/entry permit application for study upon receipt of all the required documents. The Immigration Department will not be able to start processing the application unless all the required documents and information are received. The Visa/Entry permit label will be issued upon successful application. It should be collected by the sponsor from the Immigration Department for onward transmission to the successful applicant. Upon arrival in the HKSAR the visa/entry permit label should be affixed onto a blank visa page of the applicant’s travel document (Passport) for presentation to the immigration officer. Note: The restriction in respect of internship and part-time employment for non-local students has been relaxed from 2008/09 academic year onwards. Nonlocal students of full-time locally-accredited programmes at degree level or above, whose study period is not less than one academic year, may take up internship subject to the following conditions: the internships must be study/curriculumrelated and be arranged or endorsed by the institutions they are studying in. The duration of the internship could be up to one academic year, or one-third of the normal duration of the relevant fulltime academic programme, whichever is shorter. There is no restriction on the nature of work, level of salary, location, number of working hours and employers. For more information log on to http:// www.immd.gov.hk/ MCG 71

Experts Speak

“Entrepreneurship, including social entrepreneurship, diversity, and social responsibility will continue to be important themes in the long-term vision for Ross.”

lison Davis-Blake is the new Edward J. Frey Dean of the Ross School of Business, effective Aug. 22, 2011, pending approval from the University of Michigan Board of Regents. After getting a bachelor’s degree in economics from Brigham Young University in 1979, Davis-Blake worked as an auditor in the New York City office of Touche Ross and Co. She earned her master’s degree in organizational behavior from Brigham Alison Davis – Blake, Dean, Young in 1982 and a doctorate in organizational behavior from University of Michigan, Stanford University in 1986. Davis-Blake’s research interests Ann Arbor, include the effects of outsourcing on organizations and Stephen M. Ross School of employees, organizational promotion systems, and determinants Management. and consequences of contingent worker use and organizational wage structures. Her teaching areas include organization theory, organizational behavior, strategic human resource management and managing human capital. Her professional service includes editorial positions with the Journal of Management, Academy of Management Review and Administrative Science The glass ceiling Quarterly. What are your primary objectives as the new Dean of Ross School of Business? As Dean since August 2011, I have begun a collaborative process of working with faculty, staff, students, alumni, recruiters, and other key constituents to determine the focus and mix of activities that will best position Ross to be a leader among the world’s most elite business schools. Even as we work together to determine our future strategy, you will continue to see the Ross School leading in experiential learning in a way that deeply connects thought and action. The Ross School pioneered seven week multi-disciplinary action learning projects for MBA students two decades ago, and truly knows how to have students work on field projects in a way that maximizes both student learning and client benefit. The Ross School will also continue to expand its global footprint, particularly in India where the School will soon launch an important new initiative in honor of CK Prahalad.

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still exists for many women at workplace. What are some of the obstacles that you faced in your professional life? What is your advice to women who want to succeed on the professional front? The biggest obstacle I have faced as a woman in a setting where women have been and continue to be the minority, is that I have often been the first woman to do a variety of things. As the first woman to fill roles previously held only by men, I have found that there is often a period of adjustment while those I interact with become accustomed both to the concept of a female leader and to the reality of working with a female leader on a daily basis. In my view, the best way to navigate through this period of adjustment is to (1) focus on the work; if you do a great job most adjustment issues will disappear on their own, (2) be open about the fact that some things may be different than they were before and encourage people to discuss those differences before evaluating them as good or bad, (3) don’t allow dysfunctional patterns or thought processes that emerge during the period of adjustment to linger; openly confront, discuss, and resolve them.

Application Experts Speak Basics

How has MBA education changed in the last decade especially during the recessionary period witnessed in the second half of the decade? What responsibilities should MBA educationists shoulder to ensure that future business leaders are ethical? At the Ross School, we’ve noticed an increase in “non-traditional” career goals among our MBA applicants. Students are more open to and interested in careers in social enterprise, nonprofits, and sustainability. The recession has likely played a role in that trend, with fewer jobs in finance and other traditional post-MBA career paths. But it is also a characteristic of the millennial generation. This generation is more interested in service and social impactoriented careers. Ross is particularly strong in these areas. Students have found that it is part of our culture and not just a focus area for a few. This can be seen in the strength of Ross’ Net Impact chapter, which has over 350 members and has been selected the chapter of the year for four of the last five years. We also have a Social Venture Fund, which is a student-run investment fund that invests in sustainable, innovative, for-profit companies that prioritize social impact. It was conceived of and launched through the entrepreneurial efforts of four Ross MBA students in 2009, with the support of Ross alumni and faculty.

term vision. Also, Ross is a very entrepreneurial place with a long-standing commitment to both diversity and social responsibility. So, I expect that entrepreneurship, including social entrepreneurship, diversity, and social responsibility will continue to be important themes in the long-term vision for Ross. A lot of Indian students apply to Ross School of Business every year? What is your advice to these students? At the Ross School, we continue to be impressed with depth of experiences and range of accomplishments of applicants from India. I would recommend that MBA candidates conduct a self-assessment when considering business school and apply when his/her application is best suited for admission. Candidates should review our program’s admissions criteria and class profile to get a sense of how their academic profile and professional experience compares to those of our students. This preliminary research may help set realistic expectations. For example, Ross students typically have an average of five years of full-time work experience and come from a variety of industries. We also believe that it’s important to learn about a program’s culture to ensure that candidates will thrive in their business school environment. One way to learn more about the Ross School is to reach out to our Student Ambassadors and learn more about their experiences. Our students are our greatest resources and they are excited to chat with prospective students to share their insights. Another way to learn about Ross is through our Information Sessions, which are mostly held in the Fall. Through interactions such as these, applicants will be able to determine if Ross is the right fit for them. MCG

What is your long term vision for the Ross School of Business? The long-term vision is something that we work together to develop as a community. However, I expect that leading in thought and action on a global scale will be an important element of the long74

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Experts Speak

“our accreditation service exists primarily to protect the interests of potential MBA students rather than to protect the interests of business schools.” Mark Stoddard, Accreditation Projects Manager at the Association of MBA

ark Stoddard is Accreditation Projects Manager at the Association of MBAs, developing projects aimed at increasing the value of accreditation. As part of this role, Mark manages the new Research & Consultancy Centre, a department developed to produce invaluable and insightful research on the postgraduate education market for the benefit of all stakeholders, and to increase the profile of these programmes. Other projects include accreditation and service development for DBA and MBM (Masters of Business and Management) programmes. Mark is also Associate Editor of Business Leadership Review, the forum for leadership development and postgraduate management education, the official journal of the Association of MBAs.

“in five years’ time we will be a truly global organisation that has made a valuable contribution to the standards and quality of MBA programmes.” Sharon Bamford, Chief Executive, Association of MBA

haron Bamford is the Chief Executive of the Association of MBAs. Before joining the Association of MBAs Sharon was the founder Chief Executive of the India British Council, the lead Government sponsored body responsible for bilateral trade between the UK and India. As well as starting and growing five businesses of her own, Sharon has also lectured on entrepreneurship at Aberdeen Business School, was Director of the Edinburg Technopole, the University of Edinburgh’s incubator and was Chief Executive of the Scottish Institute for Enterprise. Formerly on the board of the National Council for Graduate Entrepreneurship and the Science Enterprise centers, her academic board interests now include the internationally acclaimed Glasgow School of Art. Sharon is an MBA from Robert Gordon University, Aberdeen

In an interview with Gauri Puranik, Sharon and Mark discuss accreditation process and the relevance of the AMBA accreditation. The MBA Career Guide

Application Experts Speak Basics

What makes the AMBA accreditation unique compared to some of the other accreditations (offered by other accreditation bodies)? The Association’s accreditation is unique in that it assesses the quality of individual postgraduate management programmes rather than the business school as a whole. This is important as it means we can consider each programme in significant depth during each two-day assessment visit. The Association is also unique in that it was formed, and is governed by MBA graduates, which means that our accreditation service exists primarily to protect the interests of potential MBA students rather than to protect the interests of business schools (although we have a well-developed range of services to support our accredited schools). On what parameters do you accredit a B-school programme? We look at the full range of inputs and outputs that comprise a programme, with a focus on outcomes. The accreditation criteria are organised under the following areas: the institution, faculty, students, purpose & outcomes, curriculum, and mode & duration. Explain in detail the accreditation process followed by AMBA? The accreditation process is designed to ensure that if schools reach the assessment visit stage, they have a strong chance of being successful. There are a number of internal and external checks undertaken as part of this process. The first stage is the submission of basic data on the programme (faculty / students / curriculum) which also serves as an official application. This is passed or rejected by a member of the accreditation team. If successful at this stage, schools must complete a more detailed ‘Fact sheet’ which covers further aspects of the programme. This form is sent to the independent International Accreditation Advisory Board (IAAB), formed of Deans and senior academics from accredited institutions worldwide, for approval or rejection. A pre-assessment visit by a member of the accreditation team also takes place at this stage. If positive, the School must then produce a self-audit document, which provides evidence as to how the School and its programmes meet each and every point of the accreditation criteria. Once completed, a full two day peer-reviewed assessment of the School’s submitted programmes is carried out onsite. Based on this visit, the assessment team (three peers plus one member of the accreditation team) reach a verdict on accreditation, which is encapsulated in a full consultative report. The final decision must be endorsed by the IAAB. 76

How long is the accreditation process? After a programme has been accredited, does the Association of MBAs monitor the quality standards of the programme from time to time? There are no strict timelines in place for the process, and this is really dependent on the resources at the School’s disposal to complete the required documentation (the rate-determining step is usually the production of the Self Audit Document) as well as the School’s current readiness for meeting accreditation standards. The process can normally be expected to take 9 – 18 months. All programmes must be fully re-assessed at least every five years, which is the current maximum period of each accreditation cycle. Why are there so few US B-school programmes accredited by AMBA? According to you, are accreditation bodies localized or region specific? There are a number of reasons that few US business schools have pursued the Association’s accreditation scheme. A key issue is that the Association firmly believes that the MBA is a fully post-experience as well as postgraduate programme, and as such we expect that all students must have a minimum of three years relevant work experience before embarking on an MBA. This is not the case on many full time US MBA programmes. Another issue is that the majority of US schools do not actively recruit in the international market, so there is little market advantage in applying for an international accreditation scheme. The US accreditation organisation, AACSB, is dominant in that market and is therefore the primary accreditation relevant for domestic students. There is a vast array of accreditation bodies; national, regional, and international. Potential students need to be clear about the value and status of each accreditation organisation before using this as a key indicator of quality for the programmes they choose to study. This question was to Sharon Bamford, the newly appointed Chief Executive of AMBA) You have recently joined as Chief Executive for the Association of MBAs? What is your vision for AMBA for the next five years? My vision for the Association of MBAs is that in five years’ time we will be a truly global organisation that has made a valuable contribution to the standards and quality of MBA programmes and provide knowledge and networks to assist the continuous professional development of MBA graduates. (Sharon Bamford, Chief Executive since November 2010) MCG The MBA Career Guide

Experts Speak

“At London Business School we are committed to recruiting diverse and high-calibre students from all over the world “ Oliver Ashby Business Development Manager, London Business School.

s the Business Development Manager at London Business School, Oliver Ashby, seeks to build new corporate relationships for the school and further existing ones. In the past, he has also served as the Admissions and Recruitment Manager at the school for their full time MBA programme. In this interview, he speaks about LBS’s programme flexibility The and its collaboration with L ond on ISB. Business School MBA is one

What is unique about the MBA programme at London Business School? We feel that there are a number of key areas in which London Business School is unique. These include diversity; our MBA Programme is 90% non-UK and comprises around 60 nationalities, our alumni community numbers around 30,000 over 100 different countries. We are based in a central London location, allowing easy access for recruiters and world-class speakers. Our faculty offer balanced excellence, meaning they have to research, consult and teach. Lastly, our students excel as part of the high-energy collegiate community and will form bonds lasting long after graduation. Programme Flexibility is one of the key features of the MBA programme at London Business School? Could you elaborate on this? Absolutely. Our students have the option to complete their MBA programme in either 15, 18 or 21 months. What’s more, they don’t have to choose straight away. In fact, most of our students don’t actually make up their mind until their second year. This option is fantastic for students who have done a Summer Internship and off the back of it have received their dream job offer and want to finish early. Perhaps they want to spend some time back at a family business or just want to take some time out travelling. Our flexible programme allows students to tailor their course to suit their needs. The MBA Career Guide

of the few top Management programmes that has a Language Learning module as an important component of its curriculum? How relevant is this requirement for Indian students who are already adept in two-three languages? Languages are only a compulsory exit requirement for students who only speak one language. That being said, a number of bilingual students still take extra language courses here. At London Business School we expect all our students to have an international mindset and we think learning extra languages is a great way to broaden your international business exposure. Historically what trends have been observed in case of Indian student applicants to London Business School? At London Business School we are committed to recruiting diverse and high-calibre students from all over the world. Every year we recruit a number of students from India, from all different industry backgrounds. We currently have 38 Indian students in our MBA class of 2011. London Business School is already in collaboration with the Indian Business School. Does London Business School have any future plans to collaborate with any other Indian institutions? Our international Exchange Programme is incredibly popular with our students and our partnership with India Business School gives a number of our students a great opportunity to broaden their business school experience. We have over 30 different partner schools worldwide and while we don’t have any plans to offer an exchange in other business schools in India currently, we remain committed to our partnership with India Business School. MCG 77

Application Experts Speak Basics

Action learning is one embodiment of our mission to be “In the World, For the World.” Joanne Yates, Deputy Dean and Sloan Distinguished Professor of Management

oAnne Yates has been at MIT Sloan since 1980. Before joining the Deans’ Office she developed and taught in the Communication for Managers core course. In the interview, Joanne speaks about the learning process at MIT which is program consistent with its motto. during the What differentiates MIT Sloan from other business schools? At MIT Sloan, hands-on action learning is central to the MBA experience and embodies MIT’s motto of mens et manus, or mind and hand. Courses such as Global Entrepreneurship Lab (G-Lab) enable teams of management, engineering and science students across the Institute to work closely with top management of international startups in solving real-world problems. In the process, the students gain hands-on experience in creating and running a new enterprise outside the United States, often in emerging markets with challenging economic infrastructures. More than half of our MBAs take G-Lab alone. Many additional students enroll in other project-based courses such as Sustainability Lab (S-Lab), in which they work on sustainability projects within larger firms domestically or abroad; Entrepreneurship Lab (E-Lab), where they work with local start-up firms; and Innovation Teams (i-Teams), where students work in teams to develop commercialization strategies for innovative research projects generated in MIT laboratories. Action learning is one embodiment of our mission to be “In the World, For the World.” MIT Sloan’s MBA is high touch and customizable. Our one-semester core, built around teamwork and cooperation, provides the tools on which each student can build a customized 78

remaining three semesters. Students can choose to follow a track in Entrepreneurship and Innovation or in Finance, two areas of traditional strength at the School. Our new Certificate in Sustainability leverages MIT’s well known strength in science and technology, as well as MIT Sloan’s innovative research on sustainable business. Dual degree options (e.g., with the Harvard Kennedy School of Government) provide another avenue of specialization. The MIT Leaders for Global Operations program joins our MBA with a master’s degree in one of MIT’s engineering departments. Moreover, we offer alternatives to the MBA such as our Master of Finance degree for those with more focused goals. We offer options, not a single, one-size-fits-all MBA program. Has there been any change in the focus of the MBA program at MIT Sloan in the aftermath of the economic crisis/recession? The economic crisis has provided a very interesting learning moment for the MBA class. We have offered a series of events to help them understand what has been going on, starting with panels and a half term class during fall of 2008, as the crisis unfolded. Faculty such as Andrew Lo, the Harris & Harris Group Professor of Finance, and Simon Johnson, the Ronald A. Kurtz (1954) Professor of Entrepreneurship and former chief economist of the IMF, have spoken out about the crisis through various media, have run special classes on the crisis, and have brought in guest speakers and panels. In The MBA Career Guide

Experts Speak

doing so they have touched upon many aspects of the crisis and surrounding events, including ethical aspects. In addition to these responses to immediate, unfolding events, the MBA Program has increasingly emphasized the School’s mission “to develop principled, innovative leaders who improve the world and to generate ideas that advance management practice.” In line with this mission, we have developed a new Ethics Module required of all first year students, to be offered for the first time this fall. We are launching a broader review of the MBA Core this year, from which further innovation may emerge, in part in response to changes in the world since the crisis. Tell us more about the E62 building at the MIT campus? Sloan’s new building, E62, is approximately 215,000 gross square feet in size and six stories tall. It will house all Sloan faculty, bringing them together in one building for the first time in decades. There are 210 academic offices on the upper four floors, to be used by faculty, academic visitors, and PhD students. The faculty floors are designed to enhance connections between and among the faculty, with

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many meeting spaces, open work areas, and lounges. The first two floors of the building are public space, with six MBA classrooms (four tiered and two flat) to add to Sloan’s inventory, 35 study rooms, an executive education suite with two more classrooms and eight study rooms, a business center to support student work, and dining areas with seating for over 200. Outside the building, the E62 project has added nearly 30,000 square feet of new green space to MIT’s campus with landscaped areas that will be enjoyed by all in the community. The philosophical goals for the building were to create a “heart” for MIT Sloan, a center for the community; to clearly establish an identity for Sloan within MIT; to bring the faculty together and encourage integration and cross-disciplinary work; and to build a sustainable facility. E62 is the most energy efficient building at MIT, reducing energy usage through such means as a highly efficient building envelope, chilled beams and radiant panels in offices, daylighting, and an integrated system of light and shade controls. Students and faculty will find this both a comfortable and a beautiful building in which to work. MCG

Application Experts Speak Basics

“Know that there is no “typical” MBA candidate for Ivey; we are looking for people with a strong track record of success and leadership, who will bring a unique and diverse perspective to the classroom.” Niki da Silva, Director, MBA Admissions and Recruiting, Richard Ivey School of Business at The University of Western Ontario.

iki da Silva, Director, MBA Admissions and Recruiting, Richard Ivey School of Business at The University of Western Ontario. Niki speaks about the uniqueness of the Richard Iver MBA programme and about the school’s academic partnerships in India in teaching pedagogy or the recent times. What is unique about the Richard Ivey, and why should an applicant pick it over other business schools? The Richard Ivey School of Business is unique in several ways. First and foremost, our focus is on developing strong leaders who will be able to manage complex business issues on a global scale. These leadership traits are developed in part because we teach predominantly using the Ivey case-method; something that also makes us unique to other schools. Through this approach, our students are immersed in hundreds of real business cases over the intense 12-month program. They are required to put themselves in the shoes of decision-makers every day as they simulate situations of real-world business leaders. Ivey’s curriculum emphasizes five core leadership essentials and integrates Career Management training directly into the program. Instead of only focusing on ‘job’ success post-MBA, we also teach you the core skills and tools that will help you achieve career success for the long-term. It’s important that each candidate do careful research to find the program that best matches his or her goals. There are lots of great business schools out there, each offering a different learning approach, 80

program culture. Similarly, each individual has a unique set of reasons for pursuing an MBA and different goals they want to achieve. I think it’s important to identify what you want to get out of the MBA investment and then to choose a school that you feel will best help you accomplish these goals.

Is there anything peculiar about Indian student applicants? What advice would you give to Indian students to improve their candidacy? Typically, we find that many of our Indian candidates have very similar educational backgrounds and/or work experience, so my advice to ALL applicants is to think critically about how you can differentiate yourself in the application. You’ll want to highlight any unique achievements that make you stand-out from other candidates, and that will demonstrate how you will add value to the class. My other piece of advice is to review the Class Profile on our website – this will give you an idea of the current class make-up and additional information like average age and GMAT score. Know that there is no “typical” MBA candidate for Ivey; we are looking for people with a strong track record of success and leadership, who will bring a unique and diverse perspective to the classroom. The MBA Career Guide

Experts Speak

What about women applicants? Does the School take any special initiatives to attract women applicants? Each year we compile a class of talented and diverse students who bring unique perspectives to the classroom, and that includes ensuring that we have a good representation of strong females in the class. Ivey hosts events including our Women in Management Speaker Panel & Reception that give female applicants the opportunity to speak with current students and alumni about the MBA decision. I am always amazed by the number of exceptionally talented and successful women that cross our path during the recruiting process. The recent recession affected B-schools the world over? What steps has Richard Ivey taken to reinforce its position postrecession? Ivey has always had a very engaged alumni network in addition to having one of the best career services teams in the world. So, while we haven’t necessarily needed to change our position or approach postrecession, it has been great to see our alumni, who remain very loyal to the school, stepping up and “thinking Ivey first” when it comes to promoting career opportunities within this network. Additionally, our Career Management team has continued to foster relationships with our long-standing recruiting firms and has proactively initiated new partnerships with previously untapped organizations. Bringing these new opportunities to our students has helped Ivey maintain its stability and positioning as one of the top business schools in the world during these tough economic times. The Foreign Educational Institutions Bill passed by the Government of India has now provided access to International Schools to their campuses in India. Does Richard Ivey have any plans to come to India? Alternatively does Richard Ivey have any plans to have any intellectual exchange (in the form of teachers or students) with Indian educational institutions?

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The Richard Ivey School of Business has recently signed two agreements with top business schools in India. In October 2009, several Ivey leaders, including Carol Stephenson, the Dean of Ivey, traveled in India, exploring partnerships, engaging with academics and the broader business community. The Canadian High Commissioner, Joseph Caron, hosted a lunch for Ivey with guests including academics and policymakers from the Indian government. Ivey officials also met with Business School Deans, high-profile academics and business leaders including the CEOs of Birla Sunlife, Naukri.com, as well as senior executives at Indian giants such as Airtel and Infosys, and multinationals including Microsoft, GE, HSBC, and Citigroup. During that trip in October, Ivey founded a Case Development Centre in partnership with the Indian School of Business (ISB). This ambitious case development and training program will help transform the educational environment in India. Ivey faculty have noted that there is a great need for India-based cases – not only for Indian students to better understand business in their country, but also for students of management education around the world to better understand doing business in this important region. Ivey is the world’s largest producer of Asian business cases. Ivey also has a partnership with Indian Institute of Management Bangalore. The partnership, which was announced in May 2010, will provide funding for joint research projects by Ivey & IIMB faculty. Ivey will also host events and international conferences to foster interaction between Ivey and IIMB faculty. Ivey will also share its distinctive case-method of learning, through case writing and case teaching workshops. The first will take place in November. Key components of the Ivey/IIMB partnership include: Expanding each institution’s research network; Encouraging joint research and authorship; Supporting PhD students pursuing course work and/or field research in Canada and/or India; Reinforcing IIMB’s emphasis on case-based teaching and writing. MCG

View Point

Ms Christiane Schlottmann, Director, DAAD

â&#x20AC;&#x153;12% of the total students studying in Germany are international, which is way ahead as compared to only 3% foreign students in the USA.â&#x20AC;?

What are the popular streams of higher learning amongst Indians studying at German institutions? What future trends are expected in this space? Germany is known as the world leader for its research in engineering and science. Consequently disciplines of Mathematics and Natural Science top the list of popular courses and constitute 39% of total Indian students at German Universities. Engineering studies come to a close second with 34% of Indian students opting for this branch at all levels of study. Inclination towards humanities especially in the fields of public policy, governance, law and management is on the rise. The fact that it has shown an increase in recent years is because more and more programmes are being offered in English due to the increased demand to study in Germany. Germany being one of the strongest economies and the business heart of Europe, serves as a right destination for students interested in international careers.

institutions in the world)? Internationalisation is the key word at all German universities. It is interesting to note that 12% of the total students studying in Germany are international, which is way ahead as compared to only 3% foreign students in the USA. Germany tops the list of the most internationalised countries in the higher education arena. Germany bags the first position beating Australia, the United Kingdom and China, as reported by a recent British Council survey. USA stands at sixth position, behind Malaysia. The ranking compares the higher education systems in twelve countries on various critical parameters such as accessibility, support for foreign students, quality and reputation of degrees worldwide, and the extent of mobility of university academics to study and do research abroad. Germany scores on account of its internationalisation strategy, which actively promotes mobility in both directions, also through funding. According to the British Council, the German higher education institutions have become significantly more attractive for How do most Indian students coming to Germany finance their foreign students over the last few years. education? Are there any funding options available to students? Tuition fees are highly subsidised and not higher than those for German What initiatives does DAAD India take to encourage Indian students themselves. German universities also offer a number of students to pursue their higher studies in Germany? scholarships for students with excellent academic track records. About DAAD promotes students, researchers and scientists through 15-20 per cent of Indian students in Germany receive funding every Scholarships and funding for Masters, PhD, Post doctoral level and year. The German Academic Exchange Service (DAAD) scholarship Research (Scholarships section of www.daaddelhi.org). In the year database (www.funding-guide.de) contains extensive information and 2009 DAAD granted 1,723 scholarships for Indo-German mobility out a variety of possibilities. The database not only lists all the scholarships of which 1107 scholarships were granted to Indians and 616 were offered by the DAAD, but also diverse programmes offered by a wide granted to Germans. variety of institutions. German Academic Exchange Service (DAAD) in collaboration with German universities regularly organises and participates in education About 300000 Indians study abroad each year. But only about fairs. Several academic cooperation agreements have also been a few 4000-5000 of these study in Germany. According to you entered into by German universities with Indian universities. Alongside what are the reasons for this contrast in numbers (especially many universities also launch India specific initiatives like scholarships when Germany has some of the finest and best educational to attract Indian students. MCG The MBA Career Guide

Application View Point Basics

Patrizia Marchegiani, Special Advisor, Danish Agency for International Education

“Denmark ranks as one of the safest, most income equal and prosperous countries in the world.”

What is the general number of Indian students studying in Denmark? There are a limited number of Indian students currently studying in Denmark. In 2008/2009 only 239 Indian students studied as full degree students and only 27 Indian students studied as exchange students in Denmark. However we do expect those numbers to increase in the near future, since we have registered an increased interest from Indian students through our website: www.studyindenmark.dk

What support systems exist on campus to help international students settle down? Danish higher education is renowned for its innovative teaching approach and high level of service. Student services include assistance during the application- and arrival process. There is furthermore a strong emphasis on academic support during the studies and most institutions also offer career services. There is also an international student guide available for all prospective students, which describes practical, cultural and academic issues regarding being an international What are some of the most popular streams of higher educations student in Denmark. among Indian students? Indian students especially pursue educational programmes within How do most students coming to Denmark for higher studies business, engineering and health care. finance their education? Students from the European Union or the wider European Economic What are the eligibility requirements for admission to Danish Area don’t pay tuition fees for higher education in Denmark. Similarly, universities (for higher or post graduate education)? if you are participating in an exchange programme, your studies are All programmes require a high standard of English. To prove a free. All other students have to pay tuition fees. Annual tuition fees for satisfactory proficiency in English, the language tests TOEFL or IELTS full-time degree students range from 6,000 to 16,000 Euros. are often used. Danish higher education institutions receive a limited number of Admission requirements for a post graduate programme or master’s government scholarships each year to fund highly qualified full-degree programme are an internationally recognised Bachelor’s degree of good students from non-EU/EEA countries. The government scholarship standard or equivalent - usually within the same field of study as the consists of two parts and can be given as full or partial tuition fee programme you are applying for. waivers and/or grants towards covering your living costs. However, To embark on a PhD, you generally need to have a Master’s/ as the scholarships are administered by the individual institution, you Candidatus degree or equivalent. In some areas, a four-year PhD should enquire about further details at the higher education institution programme is offered to students who have completed a Bachelor’s of your choice. qualification and one year of study at postgraduate level. In terms of the education sector, what are Denmark’s strengths? Do international students find it easy to adjust to the Danish Today, Denmark is leading in education and research areas such as culture? clean technology, biotech, IT, business and design. Denmark offers Today, Denmark ranks as one of the safest, most income equal a variety of study opportunities within cutting edge fields such as and prosperous countries in the world. It also tops the list as the sustainable energy, telecommunications, food technology and diabetes world’s most innovative, least corrupt and most democratic country. care. International students may find the Danes to be a little reserved in the More than 500 programmes are taught in English. All programmes beginning, but in the long term international students find Danes very are internationally recognised and of the highest quality. Combining approachable, friendly and easy-going. Furthermore Danish culture traditional lectures and tutorials with project-based teaching methods, offers many activities like sports and social events where international Danish higher education will develop the ability to think creatively, and Danish students mix. collaborate and turn theory into practice. MCG 84

The MBA Career Guide

View Point

“Most Indian students look only to Holland for Agriculture, Dairy, Water and Wind related studies as the Netherlands is perceived as the best in the world for research and development in these fields.” Amita Patel, Education Promotion Officer, NBSO -Neso Desk India According to you what are the reasons for the low number of Indians at Holland universities (compared to countries like UK, Australia, Canada etc.)? Knowledge about the Netherlands is limited amongst the Indian population in general. Holland has been perceived by the Indian student as a non English speaking country. The awareness of the availability of more than 1600 programmes taught all in English was not there. Some key reasons for this trend. • The countries you have mentioned have started their recruitment activities many years ago whereas the Netherlands has entered the scene only in 2009. • Indian students who look to study abroad have leaned towards those countries with the presence of an Indian community. It is well known that the other countries have a huge number of Indian migrants. • There is a limited cultural visibility of the Netherlands in India. • Number of collaborations with Indian institutes with the Netherlands is small in comparison.

Most collaborations existing with Indian institutions and Dutch Universities are student exchange programmes. Recently some Dutch universities are looking into creating curriculum exchange with Indian universities. Here is a list of a few who are either in the process of completing their MoU or have already established exchange programmes. • Tata Institute of Social Sciences with ISS (Erasmus University)Netherlands. • Delhi University with University van Amsterdam • IIT Mumbai with Delft University • College of Agriculture, Baramati with Van Hall Larenstein ( Wageningen) • Pearl Academy of Fashion with NHL University & Hogeschool van Amsterdam (AMFI) • Utrecht University with Indian Institute of Science, Bangalore, National Centre for Biological Sciences, Bangalore, Jawaharlal Nehru University, Delhi, National Brain Research Centre, Delhi, University of Hyderabad, The Energy and Resources Institute (TERI), New Delhi.

Which are some of the prominent and popular educational programmes amongst the international students coming to Holland (especially Indians)? Most Indian students going abroad opt for engineering, technical studies, business administration and economic studies. Holland is popular for Architecture, Urban planning, Engineering, Agriculture, Dairy related programmes, all aspects of Water & Wind (technology, preservation, sustainability etc....) Social sciences and International business. Most Indian students look only to Holland for Agriculture, Dairy, Water and Wind related studies as the Netherlands is perceived as the best in the world for research and development in these fields.

As far as job prospects are concerned, what is the perception of a qualification from a Dutch university in the international market? All the Dutch universities which are associated with our organization (12 Research universities & 43 Universities of Applied Sciences) award internationally accredited degrees and the students avail of the job prospects throughout the world. The initiative by the Ducth immigration office in 2007, allows the student to extend their MVV visa for a year (searchable period) after their graduation giving them time to look for a job. Most of the Indian students have been able What are some of the major educational/ research collaborations/ to find appropriate jobs in the Netherlands as well as EU MoUs/ agreements between Holland and India? countries in this way. MCG The MBA Career Guide

Application View Point Basics

“UK education is very student focused.” Marina Gandhi, Head, Education UK, East India, British Council UK is one of the top study destinations of Indian students. What are the reasons for this trend? Which courses are popular with Indian students? UK education is very student focused. No matter what level, students will have the flexibility to shape their study to suit their needs. This freedom combined with a centuries-old tradition of excellence and an innovative approach to teaching makes UK education recognised and respected all over the world. Many UK institutions are regularly regarded as some of the best in the world in various fields of research. A wide variety of courses are available across institutions in the UK. Management, engineering, sciences, information technology, law, journalism, fashion design and media are some of the subjects that are very popular with students from all over the world as well as from India. There is increasing competition in the higher education market. Asian schools are coming up in a big way. Schools in India are also conforming to international standards. Moreover the Foreign Educational Institutions Bill will open up a whole lot of opportunities w.r.t. higher education in India. How will this affect the international student enrollments in UK institutions? The UK has always been one of the most preferred destinations for Indian students. Approximately over 50000 Indian students are currently studying in the UK. The number of students going to the UK from India has actually increased over the last few years.

What are the typical application cycles and application requirements for Masters level studies in the UK? Most institutions will accept applications from students a year in advance from the commencement date of the course. Before applying students should also check the application deadline on the university websites and make sure they submit their application by that date. An applicant usually needs to send degree transcripts, two reference letters, a statement of purpose, any other relevant information that will strengthen the application and a portfolio if applicable. How do most international students finance their studies in the UK? There are a number of scholarships available to students from institutions as well as other external organisations and trusts. The British Council’s website gives information on many of these scholarships – www.britishcouncil.org.in/scholarships. Most banks offer education loans to students with offers of admission from recognised UK institutions. According to you, what are the implications of the new UK visa policy for the international student community? The new visa rules have been designed to make the application process more streamlined. Detailed advice on how to apply for student visas can be obtained from www.ukba.homeoffice.gov. uk/studyingintheuk. MCG

The MBA Career Guide

Application Student Speak Basics

“The most important thing is to be honest to self, regarding the reasons one wants the second MBA.” …..says Raja Debnath, BE in Mechanical Engineering from Maharashtra Institute of Technology. He has worked with various MNC and Indian banks managing various functions like sales, credit, marketing, collections and operations in progressively larger roles. He has done his MBA from Jamnalal Bajaj Institute of Management Studies. In conversation with Reshma Majithia, he talks of his decision to do a second MBA from University of Oxford - Said Business School. What led you to do an MBA for the second time in your career as you already had a management qualification from one of the top 10 schools in India? My first MBA was in Marketing from JBIMS in 1998. Till 2009, I had spent most of my time working in banks in India, primarily in general management roles. But after reaching the national level roles, I started feeling the need for better knowledge in finance, primarily around corporate finance, macroeconomics, PE (Private Equity) and the like. That got me thinking of taking a one-year Finance MBA program. Additionally, with the 2008 crisis, the market was very slow and I did not expect the market to move too much till 2010. So

The MBA Career Guide

Student Speak

I thought that was the best time to take a break, gain the knowledge I wanted and get myself another marquee name on my résumé. How did you justify your need for a second MBA in your Oxford MBA application? I was truthful and explained the reason as above, other than my reading of the market. I explained that my lack of corporate finance knowledge would hamper my career in future. The reason for my second MBA was not to change my career line, but to gain international exposure and finance knowledge Why did you choose to study at Oxford Business School? The Said Business School is an integral part of the Oxford University. The opportunity that MBA students have of being in the fairytale town of Oxford and build networks with non-

MBA students while staying at one of the 40 odd colleges is a very interesting experience. I wished to work in India and the Oxford brand is very huge in India and truly opens doors in Europe and India. And lastly, the MBA program has worldrenowned faculty in Finance. What are your long-term aspirations and how do you see the MBA degree helping you achieve the same? I came back from Oxford and joined Ernst and Young in the business advisory financial services practice. This is a great place to apply my learning from Oxford and my past work experience. In the long run, I see myself leading financial service companies. The Oxford MBA was the one that opened the EY door for me. And again, what I have learnt there, will stand me in good stead even while leading companies. What advice would you like to give students who plan to do a second MBA from a university abroad? The most important thing is to be honest to self, regarding the reasons one wants the second MBA. Be truthful as the college admissions staff is interested in selecting the best candidates whose aspirations they will be able to fulfill. There is no use in stating a wrong reason and then getting an admission to finally understand at the end of the MBA that your true reason for doing an MBA cannot be fulfilled. Eg – If working abroad is your primary reason, state that. If the admissions committee thinks that they will not be able to place you at the end of your MBA they will reject you. It is better you get rejected than do an MBA and then not get that job abroad. I have seen this fate befall a few, and hence I state this as the most important advice. MCG

The MBA Career Guide

Application Experts Speak Basics

“HEC MBA honed my existing skills, helped me cultivate new skills, boosted my confidence and gave me a holistic knowledge about the business world”. …….says Sholanki Sarkhel, an MBA from HEC, Paris. She has worked in the Energy (Electricity, ONG) Healthcare (NHS, UK) and Oil and Natural Gas (BP) domains. She also has substantial experience in new product development and market research in the software industry together with consultancy experience in system requirement analysis and implementation. In conversation with Reshma Majithia, she talks about her decision to do an MBA.

What led you to do an MBA and why did you choose to do an MBA from France? In my last job before joining my MBA program, I was working as a Business Analyst in a software product based company in London. I initially started my career as a software Developer and this change of role demanded that I get oriented more with the business rather than just the technical side. While making certain decisions I was forced to depend on my gut feeling. Fortunately, all my decisions returned positive results but I was not so confident in what I was doing. Thus, was my

decision to do an MBA. I did not target France as a country where I would do my MBA. It happened more with the choice of school, my making it through the admission process and the financials working out. What was the toughest part of your application process? How did you overcome the obstacle? I do not think I found any part of the admission process to be difficult. It was pretty much the standard application method like most European B-Schools.

The MBA Career Guide

Experts Speak

How did you manage to finance your studies at HEC? I had received a scholarship from my school as an excellence scholarship where 26% of my tuition fees were waived off. I also did receive an EGIDE Scholarship from the French Embassy. For the remaining I took a loan from an Indian bank. How important is it to know French while pursuing an MBA from France? It is not important to know French to pursue MBA if it is an International MBA from schools like HEC, INSEAD etc. At these schools, we have approximately 40 to 50 nationalities from all across the world in each intake. But, I must say that to survive in France, French is required. With your background in various sectors, what are the long term career goals that you have planned for yourself? How has the HEC MBA helped you in the

The MBA Career Guide

process? In long term, I would prefer to work in business development or marketing for technology based companies like Google etc. HEC MBA gave me the skill set that I was lacking to do justice to the kind of role specified above. It honed my existing skills, helped me cultivate new skills, boosted my confidence and gave me a holistic knowledge about the business world. What advice would you like to give to women MBA aspirants who choose to study abroad? Although, women are acknowledged to be better managers, the business world still lacks women in the top level management and in some corporate setups the glass ceiling still does exist. Sometimes, companies are not very understanding towards the need of women â&#x20AC;&#x201C; like some women might not be able to overstay at work as they have families and kids. I guess it is changing but the more women we have joining the business world the easier and faster things would change. Letâ&#x20AC;&#x2122;s carve a niche for ourselves in this business world! MCG 91

Application Experts Speak Basics

“The MBA journey starts with the promise of a fast career progression but goes on to touch you on all accounts, developing you professionally as well as personally.” ….says Rituraj Singh, a B.Tech in Petroleum Engineering from Indian School of Mines. He has done his MBA from National University of Singapore (NUS). He is currently working with Shell, a global group of energy and petrochemicals companies as a Senior Specialist. In conversation with Reshma Majithia, he talks of his decision to do an MBA from NUS. What led you to do an MBA and why did you choose NUS to pursue your MBA? During my last job at Reliance Industries Limited, I was taking care of techno-economic evaluation of business proposals for investments in overseas oil/gas fields. I realized that my skills in financial/economic analysis could be improved upon. I could also improve upon my knowledge of corporate strategy and business policy which are essential skills for long term career progression. MBA represented the best combination of educational courses, peer learning and extracurricular experiences which could impart 92

me all these skills and facilitate my career progression. When it came to selecting the Business schools, my criteria were in the following order: A) Strong course curriculum and faculty, B) Peer diversity in terms of nationalities and professional backgrounds, C) Location, D) International ranking and E) Value for money. Based on these criteria, I shortlisted six schools for application selecting two aspirational, two realistic and two safe options. NUS Business School was one of my realistic schools and represented the best option based on my professional experience The MBA Career Guide

Experts Speak

and GMAT score. Singapore has the added advantage of being the business hub of South East Asia. NUS borrows the best aspects of Western Education and fuses it with the Asian culture making it the best combination of the West and East. As it happened, I managed to get an offer from NUS with a scholarship that waived half my tuition expenses. How did you manage to finance your studies at NUS? I used a combination of my own savings, a scholarship from NUS and a bank loan from Bank of Baroda to finance the tuition fees, living expenses and also the additional cost of exchange at UNC. How did you balance your job responsibilities, GMAT and application preparation? I took a 10 day leave just ahead of the exam date so that I could give the test my undivided attention. After the test, the process of deciding upon target schools and writing essays started in which I received a lot of guidance and hand holding from IMS consulting. The process of writing essays is very iterative and time consuming. My initial drafts had to go through an average of 5 edits before they could be finalized. I wrote when I got back from work and also during lunch breaks. As you learn from your own mistakes, the process becomes more streamlined with time. The interview stage involves a lot of planning and preparation but is less demanding on your time. While you can gather information on the schools and rehearse answers at leisure, mock interviews with counselors and friends may require you to take a bit of time off your job. I used to take a day off for final interviews especially when they were face to face and required traveling. With your background in the energy sector, what are the long term career goals that you have planned for yourself? How will the NUS MBA help you in the process? I plan to return to the oil & gas industry in a role where I can contribute through my technical and business expertise. A consulting or business development role in an energy company or a consulting firm would be the ideal targets. Working in these roles would give me a broader perspective of the whole value chain and provide me experience in framing strategies/policies for long term The MBA Career Guide

sustainable growth in the energy industry. As I mature into senior roles with time, I may take up consulting roles with Governments/ statutory bodies and help them in working towards sustainable energy use and commercialization of green technologies. NUS Business School lays a strong emphasis on sustainability and energy efficiency and it is reflected in its courses and flagship events that promote the development of alternative energy technologies. Singapore is one of the most efficiently managed cities of the world and the Government plans its energy policies with a lot of foresight. These experiences have made me aware of the best practices in the energy industry and will go a long way in helping me in my energy consulting practice. Briefly share your experiences of an MBA exchange programme UNC â&#x20AC;&#x201C; Chapel Hill? The exchange program at KenanFlagler Business School, University of North Carolina at Chapel Hill gave me an opportunity to study at one of the oldest Business Schools of the world and mingle with a rich cohort from very diverse cultures. I took this opportunity to travel extensively across the US and talk to executives in some of the largest corporations of the world about business decision making. The timing could not have been better as I saw the US economy work its way out of the financial crisis. I got a first-hand account of what went wrong and how it could have been avoided. I also visited many national parks and was awed to see the beauty of the American landscape. Among other things, I studied a course in Spanish and learnt basic conversation in the language. In all, it was an enriching experience and one that I would cherish for long. Do you have any inspirational message for MBA aspirants? The MBA journey starts with the promise of a fast career progression but goes on to touch you on all accounts, developing you professionally as well as personally. A huge investment of oneâ&#x20AC;&#x2122;s time, effort and financial resources, it invariably puts you on the fast track of development. You learn as much in the class as outside it. Being academically rigorous, the program will demand you to be self-disciplined which is essential for success. Barring the rhetoric, trust me, MBA is an investment that would bring out the best in you. MCG 93

Application Experts Speak Basics

“In my opinion, the best education is the one where one learns about one’s own weaknesses” …says Siddharth Shah who is an Electronics Engineer from D.J.Sanghavi College. After completing his engineering he worked as a SAP Consultant with L&T for 2 years. He is currently doing his MBA at the York Unversity Schulich School of Business, Canada. In an interview with Gauri Puranik, Siddharth shares his journey towards his MBA.

When and Why did you decide to pursue management education (especially since you have a steady job)? After completing my Engineering in Mumbai, I took up a job as a software engineer with a premiere company. I enjoyed the first 4 months of the training program, but after that I soon realized that I couldn’t do coding for the rest of my life. I felt I was capable of taking on more responsibility and have a larger footprint in the organization. Most people would think it’s too early to think about these things 6 months into your first job. But when I looked at the professional career and lifestyle of my managers, I thought that I wanted to be in their shoes sooner and not in 10 years time. I am ambitious by nature and it was clear to me that in order to achieve the professional satisfaction and the lifestyle I aspired, I needed a career transition and an MBA was the best way to do it. Of course, this meant losing the monthly paycheck but this was a long-term decision that would help me achieve my personal goals in life. I still continued working for 2 years because of my contract and also due to the fact that I needed some work experience. 94

Most Indian students shy away from studying in Canada and choose to study in UK, USA, Australia or Singapore. Why did you choose to pursue your education from Canada? I’m glad you asked me this question. True, most students don’t consider Canada. I decided on Canada through a ‘Process of Elimination’ a) Singapore – was a good option but only has two world class universities namely NUS and NTU. Also it was difficult to get admission in these schools with two years of experience. b) Australia – again good option but at that time news about racism and little action by the Australian government put me off. c) UK – Offers one year programs (which may be good for some people) but it is difficult to find a job after graduation (this is what I heard from friends and even exchange students who have come to Canada from UK schools). Also in general it is difficult for international students to find jobs in UK (or Europe) because of language issues, stiff immigration laws etc. The MBA Career Guide

Experts Speak

d) US – best option from the quality of education point of view but US at that time had the worst economic crisis. New graduates were finding it difficult to land a job and also there were visa issues. I had heard stories from my friends about how stressful they were when companies refused to extend their H1B VISA and some of them had to return to India after 1 year. Canada by far was the best option. There is good quality education. International students get 1 year of OPT after graduation. Also unlike the US there is an open work permit which means one can take up any kind of job. Your spouse can also get a work permit which provides additional financial support. Canada is the land of immigrants, people here are from different parts of the world so you never get a feeling of being an outsider. In short, if you are looking for a world class education, simplified immigration process, and want to work abroad for a few years and then decide where you want to live and work, Canada is the best place to be. Not only does it feel like home away from home but it’s also easy to relocate and work in the US, if you choose to, once things improve there. What kind of work were you doing and how did you balance your job responsibilities and GMAT and application preparation? Elaborate on the obstacles faced I was working as an SAP consultant in Mumbai. My work typically involved development, maintenance, design and testing of software applications within the SAP ERP system. Taking out time for the application and GMAT was tough. I was persistent and I set myself a timeline; a reverse timeline; starting with the application deadline and then working backwards. The obstacles I faced were extended work hours dealing with the project deliverables; the go-live phase, hyper-care phase of

the unit where I had to be available at any time of the day to resolve issues on a priority basis and traveling around the city to implement systems at client site. However, I had the support of my manager, who understood my priorities. He gave me time off when I needed the most, he appreciated the fact that I did not keep him in dark about my decision to leave after the contract got over. It can be a good decision to get people on your side as it is often difficult to do everything on your own. In fact it can help you when you approach your managers for getting recommendation letters. What are your future career goals? I am looking for career transition into Finance specifically Investment Management. I was always interested in this field because half the people in my family are stock brokers. According to you, is the job market in Canada recovering from recessionary hiccups? What is the perception of Canadian corporate sector towards Indian students? Job market in Canada is quite different. Here employers give a lot of importance to “fit” v/s “skills”. You have to be right for the job profile. There are university placements but it is not like India where IT companies swamp 100 students in a day. There are various rounds of interviews stretching over months before you finally get a yes. To get to the point, it is difficult to get a job in Canada just like everywhere else but at least with the 3 year work permit you don’t have to face some of the other challenges that students face in other countries. In the end the persistence pays. Students get jobs although not always in the field of their choice. Sometimes you have to get experience somewhere else before you finally get what you want. It is important to have an open mind and take up something that will lead you to where you want to be. Overall, the Canadian economy is strong but the job market is still lagging. Most employers feel that Indian students in general are intelligent and hard working but there is a lot to learn from the point of view of developing interpersonal skills, communication skills and social skills. Finally, advice to those aspiring to study abroad? In my opinion, the best education is the one where one learns about one’s own weaknesses. I don’t want to sound too spiritual, but I have learned so much about myself, people, developing and managing relationships and of course business that I can now say that my decision to pursue an MBA abroad was a good one. Don’t get overwhelmed by challenges, take one thing at a time and just keep on moving forward. Lastly, the most important part of the process, make sure you enjoy!! MCG

The MBA Career Guide

Australian School of Business, The University of New South Wales B SCHOOL DETAILS University School Address

Country Programs Duration Phone Number E-mail Website

The University of New South Wales Australian School of Business Admissions AGSM MBA Programs Australian School of Business University of New South Wales Sydney NSW 2052, Australia Australia MBA 16 months +61 2 9931 9490 admissions@agsm.edu.au http://www.asb.unsw.edu.au/futurestudents/ postgraduate/agsmmba/mbaprogram/Pages/ default.aspx

Student Intake (Average Class Size) Applications Female Minimum Work Experience Average Work Experience Percentage of International students Countries by citizenship

65 Information not disclosed by the instituition. 21% 2 years 7 years 64% 22

ADMISSION DETAILS Test Scores Average GMAT Score

659

Average TOEFL Score

(iBT)*- 90 overall with a minimum score of 24 in writing, (PBT)** - 577 Overall with a minimum score of 5.0 in the Test of Written English (TWE). The paper-based test is not acceptable without the TWE. 6.5 overall with a minimum score of 6.0 in each of the sub-tests of speaking, listening, reading and writing.

Average IELTS Score *(iBT) - Internet Based Test **(PBT) - Paper Based Test

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - AUD 68,160 (USD 71,219) Winter (January)

SCHOLARSHIPS AGSM MBA Community Spirit Scholarship AGSM MBA Excellence Scholarship AGSM MBA Women in Leadership Scholarship Broadleaf Capital International

$10,000 - $25,000 $10,000 - $25,000 $10,000 - $25,000 $10,000

PLACEMENTS MBA Full time Statistics (Class of 2010) Median Salary Package

AUD 1,20,000 (USD 1,25,539)

Employment by Industry - Class of 2010 Industry

% Distribution

Management Consulting

30.00%

IT & Telco

20.00%

Banking & Finance

17.00%

Pharma & Health

11.00%

FMCG

10.00%

Construction & Property

6.00%

Chemical, Petroleum & Mining

2.00%

Government

2.00%

Transport & Logistics

2.00%

Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

1.76

B-School Profiles

CLASS PROFILE (2011)

Booth Business School The University of Chicago B SCHOOL DETAILS University School

The University of Chicago Booth Business School

Address Country Programs Duration Phone Number E-mail

The University of Chicago Booth School of Business 5807 South Woodlawn Avenue, Chicago, Illinois 60637 USA Full Time MBA 21 months 773.702.7743 admissions@chicagobooth.edu

Website

http://www.chicagobooth.edu/

B-School Profiles

SCHOLARSHIPS CLASS PROFILE (2011) Average Class Size Female

579 35%

Minimum Work Experience Average Work Experience Percentage of International students

No minimum requirement 5 years 36%

Merit-Based Scholarships Chicago Booth Fellowships FortĂŠ Foundation Fellowship The Indian Trust Fellowship The James M. Kilts Marketing Fellowship The Zonis Fellowship Corporate Fellowship AT Kearney Fellowship

ADMISSION DETAILS Test Scores Average GMAT Score

The Robert W. Baird Fellowship 715

Average GRE Score Average TOEFL Score Average IELTS Score

Not Accepted (iBT)*- 104, (CBT)** 250, (PBT)*** - 600 Minimum Score 7

PTE Academic

Minimum 70

Canfield Private Equity Fellowship

*(iBT) - Internet Based Test **(CBT) - Computer Based ***(PBT) - Paper Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 53,400 Fall Round 1 - October 12, 2011 Round 2 - January 4, 2012 Round 3 - April 4, 2012

US $10,000 to US $30,000 US $ 20,000 US $ 10,000 US $25,000 in tuition per year for two years US $ 25,000 in tuition to an international student from an emerging economy Two awards of US $30,000 each awarded to students who plan to pursue a career in management consulting with an international perspective. US $25,000 will be awarded to students who are pursuing a career in finance and are committed to advancing the interests of women in business Two awards of US $30,000 each awarded to students who have prior investment banking or private equity experience; and demonstrate leadership potential and past academic achievement. Award includes internship with a private equity firm and mentorship from Chicago Booth faculty.

PLACEMENTS Internship Statistics (Class of 2011) Median Monthly Salary US $ 7,750 MBA Full time Statistics (Class of 2010) Median Salary US $ 1,02,000 Median Sign-on Bonus US $ 20,000 Top Internship Hirers McKinsey & Company, Inc., The Boston Consulting Group, Barclays PLC, Bain & Company, Inc., Citigroup Inc., Credit Suisse, Bank of America Corporation, Morgan Stanley, Booz & Company, Deutsche Bank AG

China Europe International Business School B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

China Europe International Business School China Europe International Business School MBA Admission Office CEIBS 699 Hongfeng Road, Pudong Shanghai 201206, PRC China Master of Business Administration (MBA) 18 months +86-21-2890 5890 admissions@ceibs.edu http://www.ceibs.edu/

CLASS PROFILE (2011) 198 Approx 1000

Intake to Application Ratio Female Minimum Work Experience Average Work Experience Percentage of International students

0.20 30% Yes, two years or more 5.3 years 39%

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

ADMISSION DETAILS Test Scores Average GMAT Score CEIBS Admission Test

692

Average GRE Score

CEIBS students usually have a total score of more than 600 for the Quantitative and Verbal Sections NS

Average TOEFL Score

Average IELTS Score

SCHOLARSHIPS First Year students CHIC Leadership Development Program Fund Bosch Scholarship Omnicom Scholarship Shanghai Municipal Government Scholarship Second Year Students A Capital-CEIBS Private Equity Scholarship (Internship Scholarship) Emerson Scholarship

NS US $ 45,433 US $ 10,000 Range from US $ 15,246.22 to US $ 24,393.96 US $ 3049.25 The selected laureate will gain a money prize as well as the opportunity to spend the summer internship with A Capital Asia US $ 3,125

Tuition fees - US $ 49,800 Fall (Aug) Round 1 - November 15, 2011 Round 2 - February 05, 2012 Round 3 - March 29, 2012

PLACEMENTS Full time Statistics (Class of 2010) Average Salaries 494,002 Chinese currency (US $ 77,333) Full time Industry Choices - Class of 2010 Industry % Distribution Financial Services 24.00% Industrial Products/Services 20.00% IT/Telecom 16.70% Consumer Products/Services 10.00% Consulting Services 8.00% Healthcare Product/Services 4.70% Energy/Utilities 4.00% Retail/Trading 3.30% Media/ Advertising 2.00% Logistics 1.30% Non-profit/Government 0.70% Others 5.30% Recruiters Bain & Company, Deloitte Consulting, Macquarie Capital, Nomura, Siemens, IBM, JP Morgan, Citi Group, UBS Earnings to Tuition Fees Ratio 1.55 (Median Salary considered for calculation)

B-School Profiles

Total enrollment Applications

Crainfield School of Management, Crainfield University B SCHOOL DETAILS University School

Crainfield University Crainfield School of Management

Address Country Programs Duration Phone Number E-mail

Cranfield School of Management, Cranfield, Bedford, MK43 0AL, UK UK Crainfield MBA one year full time +44 (0)1234 754386 mbaenquiries@cranfield.ac.uk

Website

http://www.som.cranfield.ac.uk

CLASS PROFILE (2010-11)

B-School Profiles

Student Intake (Average Class Size) Male: Female ratio

148

Minimum Work Experience Average Work Experience Number of nationalities

Minimum 3 years 7 years 38

4:1

ADMISSION DETAILS Test Scores Average GMAT Score

660

Cranfield admission tests Average TOEFL Score

NS (iBT*) - 100

Average IELTS Score

overall result in band 7

Certificate of Proficiency in English (CPE)

grade A or B

Certificate of Advanced English (CAE)

grade A

Pearson Test of English – Academic (PTE)

minimum score of 68

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - £33,000 (US $ 55,129) Fall

Application Deadlines

September 24, 2012

SCHOLARSHIPS Cranfield MBA Scholarship for Women Scholarships to Outstanding Candidates The Leo Murray Scholarship

up to £14,000 (US $ 23,076) up to £14,000 (US $ 23,076) up to £14,000 (US $ 23,076)

PLACEMENTS MBA Full time Statistics (Class of 2009) Average Salary £71,771 (US $ 1,19,898) Full time Industry Choices of Class of 2009 Industry Choices % Distribution IT 17.00% Engineering 14.00% Consultancy 14.00% Financial Services 12.00% Government time/Non Profit 11.00% FMCG/Retail 6.00% Manufacturing 5.00% Energy/Utilities 4.00% Health/Pharma 4.00% Professional Service 4.00% Telecoms 4.00% Travel/Transportation 4.00% Education 2.00% Earnings to Tuition Fees Ratio 2.17 (Median Salary considered for calculation)

Darden School of Business, University of Virginia B SCHOOL DETAILS University School Address

E-mail

University of Virginia Darden Business School University of Virginia Darden School of Business, P.O. Box 6550, Charlottesville, VA 22906-6500 USA MBA 2 years full time 1-800-UVA-MBA1 (882-6221) or +1-434-924-7281 Darden@virginia.edu

Website

http://www.darden.virginia.edu/web/Home/

Country Programs Duration Phone Number

Total number of students Female

339 29%

Minimum Work Experience Average Work Experience Countries Represented Percentage of International students

Not mandatory 4 years 35 31%

Darden Jefferson Fellowships

DAAD Scholarship

Darden India Fund

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score Average IELTS

IRC International Scholarship 699 Since GRE score submissions were less than 5%, average scores not published. 106 NS

Full tuition, fees and living expenses. Additionally, fellows may receive a research stipend each year upto US$ 3000 p.a. â&#x201A;Ź 15,400 (US $ 22,208) for the first year at Darden plus a monthly payment to pay for living expenses for 9 months (until the end of the first year) A student transition grant is offered by Darden Indian Alumni as well as other supporters to a single Indian National, accepted to the School, holding a current Indian passport and living in India at the time of application. Full-tuition merit-based scholarship for an international student. Available to students entering in even-numbered years.

PLACEMENTS Full time Statistics (Class of 2010) Median Base Salary

US $ 1,00,000

Median Signing Bonus

US $ 20,000

Internships

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $52,000 Fall Round 1 - October 17, 2011 Round 2 - January 12, 2012 Round 3 - April 4, 2012

Top 10 hiring companies at Darden for summer interns the past three years were Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

Danaher Corporation, Bain & Company, Bank of America, Booz & Co., IBM Global Business Services, JP Morgan, Deloitte, Johnson & Johnson, McKinsey & Co., Microsoft Corp. 1.92

B-School Profiles

SCHOLARSHIPS

CLASS PROFILE (2010)

Haas School of Business, University of California, Berkeley B SCHOOL DETAILS University School Address

Country Programs Duration Phone Number E-mail Website

University of California, Berkeley Haas School of Business Full-Time MBA Admissions Haas School of Business University of California, Berkeley 430 Student Services Building #1902 Berkeley, CA 94720-1902 USA Full time MBA 21 months 1-510-642-1405 mbaadm@haas.berkeley.edu http://www.haas.berkeley.edu/

B-School Profiles

CLASS PROFILE (2010) Enrolled students Applications

243 3,627

Female Minimum Work Experience

30% Most of our students have two or more years of full-time professional work experience following the completion of their undergraduate degree. 5 years 38 38%

Average Work Experience Countries Represented Percentage of International students

SCHOLARSHIPS Haas Merit Scholarships Berkeley MBA Grants Guru Gobind Singh Fellowship Investment Banking Fellowships

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score Average IELTS

718 No, for admission to the Berkeley MBA Program all applicants must submit a GMAT score. (iBT)* - 110, (PBT)** - 570, (CBT)*** - 230 overall band score must be at least 7

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 53,396 Fall 2012 One - October 12, 2011 Two - December 1, 2011 Three - January 18, 2011 Four - March 7, 2012

US $ 25,000 US $10,000 to US $20,000 per year for both years of study. The fellowship will provide US $30,000 for the academic year. US $5,000 award for MBA students pursuing careers in investment banking. Another $5,000 may be awarded in fall of the second year if student successfully completes an investment banking internship.

PLACEMENTS Internship Statistics (Class of 2011) Median Monthly Salary US $ 6,591 Top Internship Recruiters Apple, Amazon, Bain & Company, Deloitte Consulting, Google, Microsoft Full time Statistics (Class of 2010) Median Starting Salary US $1,10,000 Median Signing bonus US $ 20,000 Top Full time Recruiters Apple, Amazon, Boston Consulting Group, Deloitte Consulting, Google, McKinsey & Company, PG&E, Yahoo Earnings to Tuition Fees Ratio 2.06 (Median Salary considered for calculation)

Harvard Business School, Harvard University B SCHOOL DETAILS University School

Harvard University Harvard Business School

Address Country Programs Duration Phone Number E-mail

MBA Admissions Dillon House, Soldiers Field Road Boston, MA 02163 USA MBA 2 years - full time +617-495-6128 admissions@hbs.edu

Website

http://www.hbs.edu/mba/academics/

CLASS PROFILE (2012) 903 9,524

Intake to Application ratio Female Countries represented Percentage of International students

0.09 36% 73 34%

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score

730 Not specified (iBT)* - 109

PTE Academic score

minimum score 75

IELTS *(iBT) - Internet Based Test

minimum score is 7.5

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 51,200 MBA Class of 2014 Round 1 - October 3, 2011 Round 2 - January 10, 2012 Round 3 - April 10, 2012

SCHOLARSHIPS HBS Fellowship Program George Family Foundation Fellowships Rubenstein Fellowship Program

US$ 25,000 per year NS Applicable for students in joint degree programmes (MBA/MPP or MBA/MPAID) Fellows also receive one summer stipend to be used as total compensation or as a supplement to the compensation received for working in a summer internship in the public or nonprofit sectors.

PLACEMENTS Internship Statistics (Class of 2011) Median Base Monthly Salary US $ 6,922 Full time Statistics (Class of 2010) Median Base Salary US $1,10,000 US $ 20,000 Median Signing Bonus Full time Industry Choices Class of 2010 Industry % Distribution Consulting 24% Consumer Products 6% Entertainment/Media 3% Financial Services 34% Healthcare 6% Manufacturing 6% Non-Profit/Government 6% Other Services 3% Real Estate 1% Retail 3% Technology 8% Earnings to Tuition Fees Ratio 2.15 (Median Salary considered for calculation)

B-School Profiles

Total MBA enrollment Applications

HEC School of Management, Paris

B-School Profiles

B SCHOOL DETAILS

FEES AND APPLICATION

University School

HEC Paris HEC School of Management

Address Country Programs Duration Phone Number E-mail

HEC MBA Program, Admission office, 1, rue de la Libération, 78351 Jouy-en-Josas, cedex France Europe HEC MBA Program 16 months full time +33.1.39.67.95.46 / +33.1.39.67.73.83 admissionmba@hec.fr

Website

http://www.mba.hec.edu/

CLASS PROFILE (2011) Over 50 nationalities coming from diverse horizons such as architecture, medicine, engineering, mathematics, art and history are gathered in the MBA Program.

Educational Budget Semesters Application Deadlines for September 2012

Tuition fees - € 45, 000 (US $ 64,776) September and January October 18, 2011 November 22, 2011 January 3, 2012 February 7, 2012 March 6, 2012 April 17, 2012

SCHOLARSHIPS HEC-Forté Foundation for women candidates L’Oréal Scholarship for all candidates HEC-EGIDE/EIFFEL for candidates working in emerging countries HEC MBA Need Based Scholarship

Variable, up to € 15,000 (US $ 21,592) € 10,000 (US $ 14,395) Monthly allowance of €1,181, and covers additional expenses including travel, health insurance and cultural activities. € 6,000 (US $ 8,637) to € 24,000 (US $ 34,548)

PLACEMENTS

ADMISSION DETAILS Test Scores Average GMAT Score

690

Average GRE Score Average TOEFL Score

NS 100

Average IELTS Score

6.5

MBA Full time Statistics (Class of 2009) Top Internship Hirers McKinsey & Company, Boston Consulting Group, Bain & Company, Morgan Stanley, Citigroup, Inc, JP Morgan Chase & Co., Deloitte Consulting, LLP, Goldman, Sachs & Company, Credit Suisse Group

Henry B. Tippie School of Management, The University of Iowa

FEES AND APPLICATION

B SCHOOL DETAILS

Country Programs Duration Phone Number E-mail Website

University of Iowa Henry B. Tippie School of Management Henry B. Tippie School of Management The University of Iowa 100 Pomerantz Center—Suite C432 Iowa City, IA 52242-7700 USA USA MBA 2 years - full time (319) 335-2792 tippiemba@uiowa.edu http://tippie.uiowa.edu/fulltimemba/admissions/ index.cfm

Educational Budget Semesters Application Deadlines

Tuition fees - US $ 33,176 Fall Early Decision Deadline - January 15, 2012 Final Deadline - April 15, 2012

SCHOLARSHIPS The Tippie MBA scholarships

US $2,000 to US $10,000

CLASS PROFILE (2012) Number enrolled Female

69 15%

Minimum Work Experience Average Work Experience Percentage of International students Countries represented

2 years 3.61 years 19% 8

ADMISSION DETAILS Test Scores Average GMAT Score - Class Average GMAT Score - International Average TOEFL Score Average IELTS *(iBT) - Internet Based Test **(PBT) - Paper Based Test ***(CBT) - Computer Based Test

657 671 (iBT)* - 100, (CBT)** - 250, (PBT)***- 600 Minimum total score - 7

PLACEMENTS Internship Statistics (Class of 2010) Average Starting Salary US $ 4,181 Recruiters

Citigroup, Vanguard, Aviva, Continental Airlines, Darden Restaurants, Ford Motor Company, Gavilon Group, Goldman Sachs, Land O’Lakes/Purina, Nuveen, Siemens, United Stationers, AEGON USA, Best Buy, AGCO Full time Statistics (Class of 2010) Average Starting Salary US $ 76,100 Average Signing bonus US $ 10,500 Recruiters Amazon, Google, eBay, Pearson, Cognizant, HNI Corporation, GE, Johnson & Johnson, Kraft Foods, Delta Air Lines, Sears, 3M, Nestle-Purina, Land O’Lakes, Discover, AEGON USA, Bridgestone Bandag, Payless ShoeSource, Shell, Accenture (China), Breneman Winbush

B-School Profiles

University School Address

IESE Business School, University of Navarra B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

University of Navarra IESE Business School IESE Business School - Barcelona Campus Avenida Pearson, 21 08034 Barcelona Spain Spain MBA 2 years - full time +34 93 253 42 00 mbainfo@iese.edu http://www.iese.edu/en/MBAPrograms/ Programs/mba/Intro/highlights_program.asp

B-School Profiles

CLASS PROFILE (2011) Total class size Female

270 29%

Minimum Work Experience Average Work Experience Percentage of International students Countries represented

2 years 4 years 80% 48

SCHOLARSHIPS

ADMISSION DETAILS Test Scores Average GMAT Score

672

Average GRE Score Average TOEFL Score PTE Academic score *(iBT) - Internet Based Test

NS (IBT)*- 100, (CBT)**- 250, (PBT)***- 600 68

**(PBT) - Paper Based Test ***(CBT) - Computer Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - 35,350 Euro (US $ 50,857) Fall October 10, 2011 November 7, 2011 December 5, 2011 January 16, 2012 February 13, 2012 March 12, 2012 April 9, 2012 May 7, 2012 June 4, 2012

The MBA Admissions Scholarship Scholarships for Students from Developing Countries Scholarships for Women

The Indian Scholarship

The Asian Scholarship

The CitiFoundation Scholarship for Women

Scholarship to outstanding candidates with verifiable financial constraints. Merit based scholarships for studnets from a developing countries. Scholarships support women with a track record of outstanding professional accomplishment. Scholarship supports students from India. Students granted this scholarship are expected to help the Alumni Chapters promote IESE in their country. Scholarship supports students from Asian countries. Students granted this scholarship are expected to help the Alumni Chapters promote IESE in their country. Women students awarded four scholarships of USD 12.500 for living expenses.

PLACEMENTS Participating Companies

Barclays Capital, Citi, Deutsche Bank, J.P.Morgan, Accenture, Ernst & Young, Mckinsey & Co.

Insead Business School B SCHOOL DETAILS University School Address

E-mail

Insead Insead Business School Europe Campus - Boulevard de Constance 77305 Fontainebleau, Asia Campus - 1 Ayer Rajah Avenue, 138676 Singapore, Abu Dhabi Campus - 4th Street - Muroor Road, P.O. Box 48049, Abu Dhabi, United Arab Emirates Europe, Abu Dhabi and Asia Campus MBA 10 months full time Europe Campus - +33 (0)1 60 72 40 05, Abu Dhabi Campus - +971 2 651 5200, Asia Campus - +65 6799 5990, mba.info@insead.edu

Website

http://mba.insead.edu/home/

Country Programs Duration Phone Number

Class size Female

1,008 33%

Minimum Work Experience

INSEAD does not have an absolute requirement for years of work experience, although at least two years is preferred 3-5 years 86

Average Work Experience Nationalities

FEES AND APPLICATION

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score

703

Average IELTS Score

NS (iBT*)- 105, (CBT)**- 260, (PBT)*** - 620 Minimum score - 7.5

TOEIC Listening and Reading

Minimum score - 950

TOEIC Writing

Minimum score - 170

TOEIC Speaking

Minimum score - 190

PTE Academic

Minimum score - 72

CPE

*(iBT) - Internet Based Test **(CBT) - Computer Based Test

Educational Budget Semesters

Tuition fees - € 56,000 (US $ 80,607) January and September intake

Application Deadlines

Fall Round 1 - September 28, 2011 Round 2 - December 7, 2011 Round 3 - March 21, 2012 Winter Round 1 - April 11, 2012 Round 2 - June 20, 2012 Round 3 - August 16, 2012

PLACEMENTS MBA Full time Statistics (Class of 2010) Overall annual median salary € 87,400 (US $1,25,812) Overall median sign-on bonus Top Recruiters

***(PBT) - Paper Based Test

SCHOLARSHIPS INSEAD Alumni Fund (IAF) Diversity Scholarships) INSEAD Louis Vuitton Scholarship INSEAD Forte Foundation Fellowship

Up to €25,000 (US $ 35,945) Up to €25,000 (US $ 35,945) Up to €15,000 (US $ 21,570)

Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

€ 15,400 (US $22,168) McKinsey & Company, The Boston Consulting Group, Bain & Company, Booz & Company, Standard Chartered Bank, A.T. Kearney, Roland Berger Strategy Consultants, Eli Lilly, Google and Accenture 1.56

B-School Profiles

CLASS PROFILE (2011)

Judge Business School, University of Cambridge B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

University of Cambridge Judge Business School Cambridge Judge Business School, University of Cambridge, Trumpington Street, Cambridge CB2 1AG, United Kingdom UK Cambridge MBA 12 month full time +44 (0)1223 337053 http://cjbs.hobsons.co.uk/emtinterestpage. aspx?ip=registration http://www.jbs.cam.ac.uk/mba/index.html

B-School Profiles

CLASS PROFILE (2010) Size of the class Female

167 26%

Minimum Work Experience Average Work Experience Percentage of International students Nationalities

3 years full time 6.5 years 94% 43

ADMISSION DETAILS Test Scores Average GMAT Score

Cambridge Judge Business School scholarships Christ's College Whittaker MBA £10,000 (US $ 16,706) Scholarships Director's Scholarships £500 (US $ 835) Girton College Ruth Whaley Scholarships Lyondell Bassell Cambridge MBA Scholarship

690

Average GRE Score Average TOEFL Score

NS (iBT)* - 110 with 25 in the writing section, (PBT)** - 637 with 5.5 in the Test of Written English Average of 7.0 with a minimum of 6.0 in each band

Average IELTS Score *(iBT) - Internet Based Test **(PBT) - Paper Based Test

***(CBT) - Computer Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

SCHOLARSHIPS

Tuition fees - £36,000 (US $ 55,129) Fall Round 1- September 23, 2011 Round 2 - November 11, 2011 Round 3 - January 6, 2012 Round 4 - March 2, 2012 Round 5 - April 20, 2012

Maissa Karim Scholarships

£5,000 (US $ 8,353) £33,000 (US $ 55,129) (Candidates with a process engineering background, including those who have worked in pharma and oil and gas) £2,500 (US $ 4,176)

St Catharine's College £10,000 (US $ 16,706) Benavitch Scholarships University of Cambridge scholarships The Gates Cambridge Trust

covers full cost of studying at Cambridge

External Scholarships British Council Scholarships

Variable amount

Cambridge Society Bombay Scholarships Chevening Scholarships

Up to Rs 250,000 (US $ 5,461)

Ford Foundation International Fellowships Program (IFP)

Determined during the selection process

Varies from part to full funding

PLACEMENTS MBA Full time Statistics (Class of 2009) Average Base Salary £66,297 (US $ 1,07,945) Earnings to Fees Ratio (Median Salary considered for calculation)

1.96

Kellogg School of Management, Northwestern University B SCHOOL DETAILS University School Address

Country Programs Duration Phone Number E-mail Website

Northwestern University Kellogg School of Management Kellogg School of Management Northwestern University Donald P. Jacobs Center, 2001 Sheridan Rd. Evanston, IL 60208-2001 USA MBA 2 years - full time 847-491-3308 MBAadmissions@kellogg.northwestern.edu http://www.kellogg.northwestern.edu/Programs/ FullTimeMBA/MBA_Programs.aspx

CLASS PROFILE (2010) Total Enrolled students Female

530 31%

Minimum Work Experience Work experience range Percentage of International students

two years 3-7 years 33%

714

Average GRE Score Average TOEFL Score *(iBT) - Internet Based Test

ArcelorMittal Scholars Program

Donald P. Jacobs International Scholarships

ADMISSION DETAILS Test Scores Average GMAT Score

FortĂŠ Foundation/Kellogg Scholarships

NS (iBT)* - 110

For meritorious women applicants only. Scholarship amount is $20,000 per academic year Programme fosters education in the area of global leadership and management in emerging markets.The scholarship supports approximately half the tuition for each academic year and includes activities exclusively for ArcelorMittal scholars. US $15000

PLACEMENTS Full time Statistics (Class of 2010) Median Base Salary Acceptance Female

US $ 1,00,000

Male

US $ 1,15,000

Full time Industry Choices for Class of 2010

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 54,000 Fall OFF-CAMPUS INTERVIEW REQUEST DEADLINES Round 1 - September 22, 2011 Round 2 - December 14, 2011 Round 3 - March 22, 2012 ON-CAMPUS INTERVIEW DEADLINES Round 1 - October 18, 2011 Round 2 - January 10, 2012 Round 3 - April 5, 2012

Industry

% Distribution

Consulting

31%

Other services

13%

Consumer, Packaged Goods

12%

High Tech Manufacturing

11%

Other Financial Services

10%

Pharma, Biotech, Healthcare

Other Manufacturing

Investment Banks, Brokerage

Media & Entertainment

Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

2.13

B-School Profiles

SCHOLARSHIPS

Leonard N.Stern School of Business, New York University B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

New York University Leonard N.Stern School of Business NYU Stern, Henry Kaufman Management Center, 44 West Fourth Street New York, NY 10012 USA MBA 2 years full time 212-998-0600 sternmba@stern.nyu.edu http://www.stern.nyu.edu/AcademicPrograms/ FullTime/index.htm

B-School Profiles

CLASS PROFILE (2011) Estimated Class size Application

390 4416

Intake to Application ratio Female Minimum Work Experience Average Work Experience Percentage of International students and dual citizens

0.09 33% Not mandatory 4.8 years 33%

ADMISSION DETAILS Test Scores Average GMAT Score

719

Average GRE Score Average TOEFL Score

NS NS

PLACEMENTS Full time Statistics (Class of 2010) Base Average Salary US $100,448

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 51,942 Fall Round 1 - November 15, 2011 Round 2 - January 15, 2012 Round 3 - March 15, 2012

SCHOLARSHIPS Merit-Based Scholarships Teaching Fellowships & Graduate Assistantships

US $10,000 to full tuition and fees US $ 21,500

Signing bonus average US $ 29,239 Full time Industry Choices of Class of 2010 Industry % Distribution Investment Banking 31.00% Consulting 15.00% Diversified 10.00% Consumer Products 8.00% Pharma/Healthcare 5.00% Investment Mgmt/Hedge Fund 4.00% Luxury/Retail 4.00% Media/Communication 4.00% Private Equity/Venture Capital 2.00% Real Estate 2.00% Technology/Telecommunication 2.00% Other 13.00% Earnings to Tuition Fees Ratio 1.93 (Median Salary considered for calculation)

London Business School B SCHOOL DETAILS University School

London Business School London Business School

Address

London Business School, Regent's Park London, NW1 4SA, United Kingdom UK MBA 15-21 months +44 (0)20 7000 7500 mbainfo@london.edu

Country Programs Duration Phone Number E-mail Website

http://www.london.edu/programmes/mba/whoisthembadesignedfor.html

Students Female

400 28%

Minimum Work Experience

Majority candidates have a minimum of 3 years of work experience 5 years 89%

Average Work Experience Percentage of International students Nationalities represented

SCHOLARSHIPS London Business School Annual Fund Scholarships Bank of America Merrill Lynch Scholarship MSc16 Term Scholarship MBA25 Scholarship Fund Celia Atkin Avent Scholarship Citi Foundation Scholarship Deutsche Bank Women's Scholarship Programme Forté Foundation Fellowships

£20,000 (US $ 33,004) 1 x £20,000 (US $ 33,004)) 1 x 50 per cent of first year tuition fees 1 x full first year tuition fees up to 50 per cent of tuition fees 1 x £20,000 (US $ 33,004) 4 x £20,000 (US $ 33,004) Up to £20,000 (US $ 33,004)

ADMISSION DETAILS Test Scores Average GMAT Score

701

Average GRE Score Average TOEFL Score Average IELTS Score

Not accepted 110 7.5

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - £53,900 (US $ 88,862) Fall

Application Deadlines

Round 1 - October 5, 2011 Round 2 - January 5, 2012 Round 3 - March 1, 2012 Round 4 - April 18, 2012

PLACEMENTS Summer Internship Statistics (Class of 2011) Median Weekly Compensation US $ 1607 Top Internship Hirers The Boston Consulting Group, Bain & Company, McKinsey & Company, Goldman Sachs, Deutsche Bank, American Express, Google Full time MBA Statistics (Class of 2010) Median Base Salary US $ 1,05,284 Median Sign-on Bonus US $ 24,100 Top Hirers Accenture, Amazon, Bank of America Merrill Lynch, Bain & Company, Credit Suisse, Daiwa Securities Capital Markets, Deutsche Bank, Ernst & Young, GE Capital Earnings to Tuition Fees Ratio 1.18 (Median Salary considered for calculation)

B-School Profiles

CLASS PROFILE (2012)

Melbourne Business School, The University of Melbourne B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

The University of Melbourne Melbourne Business School Melbourne Business School 200 Leicester Street Carlton Victoria 3053 Australia Australia MBA either 20 or 16 months +61 3 9349 8400 enquiries@mbs.edu http://www.mbs.edu/go/degree-programs/mbaand-general-management-programs/full-time-mba

B-School Profiles

CLASS PROFILE (2009) Total 2009 intake Ratio of applications to offers

130 4:1

Female Minimum Work Experience Average Work Experience Percentage of International students Countries of Origin

27% 2 years 7 years 86% 49

ADMISSION DETAILS Test Scores Average GMAT Score

650

Average GRE Score Average TOEFL Score

NS (iBT)* - 102 + written score of 24 and no band less than 21, (CBT)** - 253 + 5.0 essay rating , (PBT)*** 610 + TWE 5.0 Minimum score of 7 (with no single band less than 6.0)

Average IELTS Score *(iBT) - Internet Based Test **(CBT) - Computer Based ***(PBT) - Paper Based Test

SCHOLARSHIPS The Nobby Clark Fellowship The Dean's International Management Scholarship The Nobby Clark Fellowship The HJ Heinz Scholarship The Helen Macpherson Smith Fellowship The Asian Development BankJapan Scholarship Program ASEAN – Singapore Alumni Scholarship The MBA Class of 68 Scholarship The MBA Class of 69 Scholarship MBS Foundation Scholarships

Semesters Application Deadlines

Tuition fees - AUD $ 64,000 (US $ 66,910) January and September intakes September Intake -April 30, January Intake - September 30

A$25,000 (US $ 26,355) A$ 12,500 (US $ 13, 178) A$ 25,000 (US $ 26,355) Scholarship covers tuition, books, subsistence allowance, medical insurance and travel subsidies. 25% of the MBA program fees A$ 12,500 (US $ 13,178) A$ 12,500 (US $ 13,178) A$ 12,500 (US $ 13,178)

PLACEMENTS Full time Statistics (Class of 2010) Average Base Salary

A$ 1,11,049 (US $ 1,16,099 )

Hirers

ANZ, A.T. Kearney, Bain & Company Booz & Company, The Boston Consulting Group, Coles, Deloitte, Ernst & Young, FINSIA, FutureBrand, Johnson & Johnson, J.P. Morgan, Kookaï, Louis Vuitton, McKinsey & Company, Standard & Poor’s, WD-40, Wesfarmers Westpac 1.74

FEES AND APPLICATION Educational Budget

A$ 25,000 (US $ 26,355) NS

Earnings to Fees Ratio (Median Salary considered for calculation)

Michigan Ross School of Business, The University of Michigan B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

University of Michigan Ross School of Business Stephen M. Ross School of Business University of Michigan 701 Tappan Street, Ann Arbor, MI 48109-1234 USA Full time MBA 2 years 734.763.5796 rossmba@umich.edu http://www.bus.umich.edu/Admissions/MBA/ Whyross.htm

Class size Female

488 30%

Minimum Work Experience

Most of the admitted students have at least one year of work experience prior to entering. 5 years

Average Work Experience

Average GRE Score

Average TOEFL Score Average IELTS Score

704 Ross' acceptance of the GRE is new for the 2010 - 2011 admissions cycle, so no GRE range or average is available at this time. (iBT)*- 100 or higher , (PBT)** - 600 or higher Minimum score is 7 or higher

*(iBT) - Internet Based Test **(PBT) - Paper Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 52,944 Fall Round 1 - October 10, 2011 Round 2 - January 4, 2012 Round 3 - March 1, 2012

SCHOLARSHIPS Merit Scholarships

Internship Statistics (Class of 2010) Top Hirers Amazon.com, Deloitte Consulting LLP, American Express Company, Booz & Company, Cummins Inc., J P Morgan Chase & Co., Citi, Ford Motor Co., Johnson & Johnson Full time Statistics (Class of 2010) Median Base Salary Median Bonus Top Hiring Companies

ADMISSION DETAILS Test Scores Average GMAT Score

PLACEMENTS

range from US $5,000 to full tuition

US $ 1,00,000 US $ 20,000 Amazon.com, McKinsey & Company, Deloitte Consulting, LLP, Accenture Ltd., Citi, UBS AG, Booz & Company, The Boston Consulting Group, Cisco Systems, Inc, Dell, Inc., Bain & Company, Inc. Full time Industry Choices for Class of 2010 Industry % Distribution Consulting 26.20% High-Tech/Telecom Services 12.20% Consumer Goods 10.30% Financial Services 8.50% Investment Banking 8.10% Energy/Raw Materials 5.90% Other Services 5.80% Pharma/Healthcare Products 5.50% Computers/Electronic Products 4.10% Transportation 3.00% Utilities 3.00% Other Manufacturing 2.30% Healthcare 2.20% Retail 1.80% Diversified Manufacturing 1.10% Earnings to Tuition Fees Ratio 1.89 (Median Salary considered for calculation)

B-School Profiles

CLASS PROFILE (2012)

MIT Sloan School of Management B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

MIT MIT Sloan School of Management MIT Sloan School of Management 50 Memorial Drive, Cambridge, Massachusetts 02142, United States USA MBA 2 years +617-253-2659 mbaadmissions@sloan.mit.edu http://mitsloan.mit.edu

B-School Profiles

CLASS PROFILE (2012) Total class size Applications

335 4,782

Intake to Application Female Minimum Work Experience Mean Work Experience Percentage of International students

0.07 34% Not mandatory 5 years 42%

SCHOLARSHIPS Dean's Fellowships The Class of 2004 Diversity Scholarship The Forte Fellowship

The McKinsey Award Merit Awards

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score

717 NS Not required. The verbal sections of the GMAT or GRE are used to evaluate English language ability.

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 52,900 August 2012 MBA Round I - October 25, 2011 MBA Round II - January 10, 2012

US $5,000 to full tuition NS Two Fellowships worth half tuition for two years are offered. Additional US $1,000 to US $5,000 Forte awards are awarded depending upon additional funding. Applicable for women applicants only. US $ 10,000 In the second year of study, the MBA Program Office offers merit-based awards ranging from US $1,000 to US $10,000.

PLACEMENTS Internship Statistics (Class of 2011) Median Monthly Base Salary US $ 6,800 Top Hirers McKinsey & Company, Boston Consulting Group, Amazon.com, Bain & Company, Barclays Capital, Booz & Co, Deutsche Bank, Goldman Sachs Full time Statistics (Class of 2010) Median Base Salary US $1,10,000 Top Hirers McKinsey & Company, Boston Consulting Group, Bain & Company, Amazon.com, Goldman Sachs, Deutsche Bank, Microsoft Earnings to Tuition Fees Ratio 2.08 (Median Salary considered for calculation)

Nanyang Business School, Nayang Technological University B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

Nayang Technological University Nanyang Business School Nanyang Business School, Nanyang Technological University, Nanyang Avenue, Singapore 639798 Singapore MBA 16 months full time 6790 6033 nbsinformation@ntu.edu.sg http://www3.nanyangmba.ntu.edu.sg/ Admissions/applying.asp

Student Intake (Average Class Size) Female

100 27%

Minimum Work Experience Average Work Experience Percentage of International students

2 years 4.5 years 87%

ASEAN Postgraduate Scholarship

ADMISSION DETAILS Test Scores Average GMAT Score (Acceptable score) Average GRE Score

600 and above GRE can only replace GMAT scores only if your country does not have a GMAT test centre. (iBT)* - 100, (PBT)**- 600, (CBT)*** - 250 6.5

QS Leadership Scholarship

Monthly stipend of S$1,400 (US $ 1,068); book allowance of S$500 (US $ 413); tuition fees, health insurance, examination fees and other approved fees, allowances and expenses; cost of one overseas Business Study Missions; cost of travel from home country to Singapore on award of the Scholarship; and cost of travel from Singapore to home country on successful completion of the Masters programme. Each scholarship is tenable for a period of four trimesters only. US$ 10,000

PLACEMENTS

**(PBT) - Paper Based Test

Full time Statistics of MBA (Class of 2009) Hiring Companies Bain & Company, P&G, Deutsche Bank, KPMG, Morgan Stanley, Ernst & Young, Deloitte Post MBA Company Sectors of Class of 2009 Company Sectors % Distribution

***(CBT) - Computer Based Test

Technology

30.00%

Banking & Finance

13.00%

Consumer Lifestyle

12.00%

Mgmt Consulting

10.00%

Industry/Manufacturing

10.00%

Others

8.00%

Life Sciences

3.00%

Entrepreneur

4.00%

Real Estate

1.00%

Energy

1.00%

Average TOEFL Score (Acceptable score) Average IELTS Score *(iBT) - Internet Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Programme Fee - S$55,000 (US $ 45,452) Fall Round 1 - October 1, 2011 December 31, 2011 Round 2 - January 1, 2012 March 30, 2012

B-School Profiles

SCHOLARSHIPS

CLASS PROFILE (2010)

NUS Business School, National University of Singapore B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

NUS Business School National University of Singapore MBA Programmes Office, NUS Business School, Graduate Studies Office, Mochtar Riady Building, 15 Kent Ridge Drive, Level 4 Singapore 119245 Singapore MBA 17 months full time 65-6516 2068 mba@nus.edu.sg http://bschool.nus.edu/TheNUSMBA/tabid/2349/ Default.aspx

B-School Profiles

CLASS PROFILE (2010) Student Intake (Average Class Size) Applications

104 4,600

Intake to Applications Ratio Female Minimum Work Experience Average Work Experience Percentage of International students Countries Represented

0.023 38% 2 years 5 years 90% 25

SCHOLARSHIPS The NUS MBA Study Awards Asian Development Bank Japan Scholarship

ADMISSION DETAILS Test Scores Average GMAT Score (Acceptable) Average GRE Score Average TOEFL Score

S$ 30,000 (US $ 24,790) Full tuition fees, A monthly subsistence and housing allowance, An allowance for books and instructional materials, Medical insurance, Travel expenses

600

Average IELTS Score

NS (iBT)*- 100, (CBT)** - 260 (PBT)***- 620, 6.5

PTE

*(iBT) - Internet Based Test **(CBT) - Computer Based Test ***(PBT) - Paper Based Test

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - S$52,000 (US $ 42,151) Aug-12

Application Deadlines

October 1, 2011 to March 31, 2012

PLACEMENTS MBA Full time Statistics (Class of 2010) Median Salary S$ 74,900 (US $ 60,716) Full time Industry Choices for Class of 2010 Industry % Distribution Financial Services 40.00% Consulting Services 17.00% Consumer Goods 6.00% Technology and Communication 13.00% Energy, Oil and Gas 8.00% Manufacturing 6.00% Education 4.00% Pharma 2.00% Advertising 4.00% Earnings to Fees Ratio (Median 1.44 Salary considered for calculation)

Olin Business School, Washington University B SCHOOL DETAILS University School

Washington University Olin Business School

Address Country Programs Duration Phone Number E-mail

Olin Business School MBA Admissions, Box 1133, Washington University, 1 Brookings Drive, Saint Louis, MO 63130 USA MBA 2 years - full time +314-935-7301 or US toll-free 888-622-5115 mba@wustl.edu

Website

http://www.olin.wustl.edu/Pages/default.aspx

Total number of students Female

148 24%

Average Work Experience Percentage of International students

4 years 34%

Wood Leadership Fellows Program McDonnell International Scholars Academy

FortĂŠ Foundation

ADMISSION DETAILS Test Scores Average GMAT Score

695

Average GRE Score Average TOEFL Score

1325 N.A.

Average IELTS

N.A.

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

SCHOLARSHIPS

Tuition fees - US $46,000 Fall Round 1 - October 1, 2011 Round 2 - November 15, 2011 Round 3 - January 4, 2012 Round 4 - February 15, 2012 Round 5 - April 1, 2012 Round 6 - Rolling Admissions after April 1, 2012

Merit based Full-tuition fellowships Full-tuition scholarships for international students who have graduated from specific universities outside the United States. These awards include an annual stipend of US $25,000. Merit based awards for women applicants only.

PLACEMENTS Full time Statistics (Class of 2011) Median Base Salary US $ 85,000 Median Signing bonus US $ 15,000 Full time Industry Choices for Class of 2011 Industry % Distribution Financial Services 15% Consumer Products 17% Pharma/Biotech/Healthcare 18% Other 19% Manufacturing 11% Consulting 9% Technology 11% Recruiters Bank of America, British Telecom, Citi, Eli Lily, Ernst & Young, IBM, Intel, Procter & Gamble Earnings to Tuition Fees Ratio 1.85 (Median Salary considered for calculation)

B-School Profiles

CLASS PROFILE (2012)

Rotterdam School of Management, Erasmus University B SCHOOL DETAILS University School

Erasmus University Rotterdam School of Management

Address

Country Programs Duration Phone Number E-mail

Rotterdam School of Management, Erasmus University, PO Box 1738, 3000 DR Rotterdam, Burgemeester Oudlaan 50, 3062 PA Rotterdam The Netherlands Netherlands International Full time MBA 12 months +31 10 408 22 22 mba.info@rsm.nl

Website

http://www.rsm.nl/home/mba

B-School Profiles

CLASS PROFILE (2011) Student Intake (Average Class Size) Intake to Applications Ratio

151

Female Minimum Work Experience Average Work Experience Percentage of International Students Nationalities

29% 3 years 4.5 years 94%

1:5

SCHOLARSHIPS RSM MBA Corporate Scholarship Programme RSM Deans Fund Scholarships RSM MBA Global Citizenship Scholarship

ADMISSION DETAILS Test Scores Average GMAT Score

640-650

Average GRE Score Average TOEFL Score

Not accepted (iBT)* - 100, (PBT)** - 600, (CBT)*** - 250 7

Average IELTS Score *(iBT) - Internet Based Test **(PBT) - Paper Based Test

***(CBT) - Computer Based Test

FEES AND APPLICATION Educational Budget Educational Budget

Tuition fees - € 39,000 (US $ 57,828) January 1, 2012

Educational Budget

October 3,2011 Round 2 - January 5, 2011 Round 3 - March 2, 2011 Round 4 - April 20, 2011

€10,000 (US $ 14,408) €5,000 (7,204) that will be waived from the tuition fee €10,000 (US $ 14,408)

PLACEMENTS MBA Full time Statistics (Class of 2009) Median Base Salary $88,400 Signing Bonus $14,000 Top Internship Hirers McKinsey & Company, Boston Consulting Group, Bain & Company, Morgan Stanley, Citigroup, Inc, JP Morgan Chase & Co., Deloitte Consulting, LLP, Goldman, Sachs & Company, Credit Suisse Group Employment by sector for Class of 2009 Function % Distribution Financial Services 25.00% Consulting 17.00% Technology 17.00% Consumer Products 16.00% Manufacturing 13.00% Media/Entertainment 7.00% Pharma/Biotech/Healthcare 5.00% Earnings to Tuition Fees Ratio 1.53 (Median Salary considered for calculation)

Saïd Business School, University of Oxford B SCHOOL DETAILS University School

University of Oxford Saïd Business School

Address

MBA Office, Saïd Business School, Park End Street, Oxford, OX1 1HP , UK UK Oxford MBA one year +44 (0)1865 278804 https://inq.applyyourself.com/?id=oxsbs&pid=1791 http://www.sbs.ox.ac.uk

Country Programs Duration Phone Number E-mail Website

Class Size Female

233 25%

Minimum Work Experience

Most students have more than three years experience, institute do consider those with less work experience. 6 years 94%

Average Work Experience Percentage of International students Nationalities

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score Average TOEFL Score Average IELTS Score *(iBT) - Internet Based Test

700 Not accepted (iBT)* - 109, (PBT)** - 630 7.5 Minimum required in each component is 7.0 **(PBT) - Paper Based Test

SCHOLARSHIPS Saïd Business School Scholarship Prize for an Indian MBA student Skoll Scholarship Man Group Plc Felix Scholarship Clarendon Fund

upto £20,000 (US $ 32,966) £3,000 (US $ 4,945) Covering programme fees and an allowance for living expenses Up to the value of one full scholarship, may be split between candidates. University and college fees; grant for living expenses. Various award amounts.

PLACEMENTS MBA Full time Statistics (Class of 2010) Average Salary £62,800 (US $101,509) Recruiters

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - £36,300 (US $ 59,918) Sep-12

Application Deadlines

Round 1 - October 14, 2011 Round 2 - January 20, 2012 Round 3 - April 27, 2012

Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

Deloitte, Ernst & Young, Boston Consulting Group, Johnson & Johnson, Accenture, Barclays Group, CLSA, FSA, Google, Li & Fung, Oliver Wyman,SecondMarket, Walmart 1.69

B-School Profiles

CLASS PROFILE (2010-11)

SDA Bocconi School of Management B SCHOOL DETAILS University School Address

Country Programs Duration Phone Number E-mail

SDA Bocconi SDA Bocconi School of Management SDA Bocconi, Masters Division, Via Balilla 18, 20136 Milano Europe SDA Bocconi MBA 12 months +39 02 5836 3125 md@sdabocconi.it

Website

http://mba.sdabocconi.it/home/index_eng.php

B-School Profiles

CLASS PROFILE (2010-11) Student Intake (Average Class Size) Female

100 in two sections in English

Minimum Work Experience

At least two years of work experience, but, in particular situations, institute may admit candidates with less, if they have an excellent academic background. Special consideration will be given to women yet to tackle the labour market, and to students with backgrounds in sciences or humanities, to increase the diversity of the Program. 5 years 67%

33%

Average Work Experience Percentage of International students Number of Nationalities

ADMISSION DETAILS Test Scores Average GMAT Score

650

Average GRE Score Average TOEFL Score

NS (iBT)* - 100

Average IELTS Score

*(iBT) - Internet Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - €43,500 (US $ 62,617) Fall April 30, 2012

SCHOLARSHIPS Partial Tuition waiver for candidates from India Partial Tuition waiver for candidates from India Partial Tuition waiver for female candidates Tuition waiver in memory of Prof. Claudio Dematte' for candidates from outside Europe

€ 33,200 (US $ 49,149) (80% of the tuition fee) € 24,900 (US $ 36,862) (60% of the tuition fee) € 33,200 (US $ 49,149) (80% of the tuition fee) € 41,500 (US $ 59,814) (60% of the tuition fee)

PLACEMENTS MBA Full time Statistics (Class of 2009) Median Base Salary US $ 98,321 Median Sign-on Bonus Post MBA Company Sector Industry Finance/Financial Services Consulting Energy & Utilities Luxury/Consumer Products Technology/ Telecommunications Industrial Goods Pharma/ Agribusiness Professional Services Automotive Logistics Other Top Five Recruiters Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

US $ 14,385 % Distribution 24.00% 22.00% 10.00% 9.00% 9.00% 7.00% 5.00% 5.00% 3.00% 3.00% 3.00% Bain & Company, ExxonMobil, Johnson & Johnson, The Boston Consulting Group, Unicredit Group 1.57

Stanford Graduate School of Business, Stanford University B SCHOOL DETAILS University School

Stanford University Stanford Graduate School of Business

Address

MBA Admissions Office Stanford Graduate School of Business Knight Management Center/McClelland Bldg. 655 Knight Way Stanford, CA 94305-7298 UK MBA 2 years - full time +1 650.723.2766 http://www.gsb.stanford.edu/mba/contact/ ask_question.html http://www.gsb.stanford.edu/mba/

Country Programs Duration Phone Number E-mail Website

Total number of applications New Students

7,204 389

Female Minimum Work Experience Average Work Experience Percentage of International students

39% Not mandatory 4 years 37%

Average GRE Score Average TOEFL Score Average IELTS

730 Not Specified (iBT)* - 100, (CBT)** - 250, (PBT)*** - 600 minimum score of 7

*(iBT) - Internet Based Test

Siebel Scholars Program

Fellows are paid a competitive salary and standard benefits during the internship. Fellows receive at least one year's full-tuition grant, with no obligation to return to the sponsoring company. Fellow receives the full cost of attendance, including tuition, living allowance, books and supplies, course materials, medical insurance, study trip, and travel. Second year awards for five students with top academic achievement, leadership, and citizenship within the Business School community. Iincludes a tuition award.

PLACEMENTS

**(PBT) - Paper Based Test ***(CBT) - Computer Based Test

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

The Charles P. Bonini Partnership for Diversity Fellowship Program (P4D) The Reliance Dhirubhai Fellowship

ADMISSION DETAILS Test Scores Average GMAT Score

SCHOLARSHIPS

Tuition fees - US $ 55,200 Fall Round 1 - October 12, 2011 Round 2 - January 11, 2012 Round 3 - April 4, 2012

Internship Statistics (Class of 2011) Monthly Median Base Salary US $ 6,500 Full time Statistics (Class of 2010) Median Base Salary US $1,20,000 Median Signing Bonus US $ 20,000 Key Recruiters Bain & Company, Bank of America, The Boston Consulting Group, Citigroup, Dell, Facebook, Eli Lilly and Company, J P Morgan Chase & Co., McKinsey & Company Earnings to Fees Ratio (Median 2.17 Salary considered for calculation)

B-School Profiles

CLASS PROFILE (2012)

Tepper School of Business, Carnegie Mellon University B SCHOOL DETAILS University School Address Country Programs Duration Phone Number E-mail Website

Carnegie Mellon University Tepper School of Business Tepper School of Business Carnegie Mellon University 5000 Forbes Avenue, Pittsburgh, PA 15213 USA MBA 2 years - full time +412-268-2272 mba-admissions@andrew.cmu.edu http://tepper.cmu.edu/mba/index.aspx

B-School Profiles

CLASS PROFILE (2012) Total class size Female

201 29%

Minimum Work Experience Average Work Experience Percentage of International students Countries Represented

Not mandatory 4.3 years 30% 31

SCHOLARSHIPS MBA Merit Scholarship MBA Dean’s Scholarship Forte Foundation

Variable amount The Dean’s Scholarship is inclusive of full tuition and university fees for both years of the MBA program. US $ 20,000

ADMISSION DETAILS Test Scores Average GMAT Score

694

Average TOEFL Score

IBT*- 100, PBT** - 600, CBT***- 250,

*(iBT) - Internet Based Test **(PBT) - Paper Based Test ***(CBT) - Computer Based Test

PLACEMENTS Internship Statistics (Class of 2011) Median Monthly Base Salary Median Signing Bonus

US $ 6,192 US $ 2,000

Full time Statistics (Class of 2010)

FEES AND APPLICATION Educational Budget Semesters Application Deadlines

Tuition fees - US $ 54,800 Fall October 24, 2011 January 3, 2012 March 5, 2012

Base Average Salary

US $ 95,000

Signing bonus average

US $ 20,000

Recruiters

Accenture, Deloitte, Boston Consulting Group, Barclay's Capital, Bank of America Merrill Lynch, Citi, Nomura Securities, Google, Inc., IBM 1.73

Earnings to Tuition Fees Ratio (Median Salary considered for calculation)

Tuck School of Business at Dartmouth, USA B SCHOOL DETAILS University School

Dartmouth College Tuck School of Business at Dartmouth, USA

Address Country Programs Duration Phone Number E-mail

Tuck School of Business at Dartmouth, 100 Tuck Hall, Hanover, NH 03755 USA USA MBA 2 years 603-646-3162 tuck.admissions@tuck.dartmouth.edu

Website

http://www.tuck.dartmouth.edu/mba/

Target Class Size Applications Female Minimum Work Experience Average Work Experience Percentage of International students Nationalities Represented

240 No information regarding the number of applications to acceptances, as it is variable. 33% 2 years 5 years 30%

SCHOLARSHIPS

PLACEMENTS

ADMISSION DETAILS Test Scores Average GMAT Score Average GRE Score

Average TOEFL Score OR PTE Average IELTS Score

712 Because the 2009-2010 application cycle is the first in which we began accepting the GRE, there is currently no information on score ranges. There is no information available regarding these average scores. There is no information available regarding these average score.

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - US $ 53,490 Fall

Application Deadlines

Early Action Round - October 12, 2011 November Round - November 9, 2011 January Round - January 4, 2012 April Round - April 2, 2012

Need and Merit Based Scholarship Forte Foundation

US $ 3,000 to full tuition fees US $ 20,000

Summer Internship Statistics (Class of 2011) Median Base Monthly Salary Internship US $ 6,500 (International) MBA Full time Statistics (Class of 2010) Median Salary US $ 1,05,000 Median Sign-on Bonus US $ 25,000 Amazon, Bain & ComKey Recruiters pany, Bank of America Corporation, Booz & Company, Citigroup, Deutsche Bank, Goldman, Sachs & Co., Morgan Stanley Full time Industry Choices for Class of 2010 Industry % Distribution Consulting 26% Financial Services 25% Healthcare/Pharma/Biotech 9% Technology 9% Consumer Goods/Retail 7% Energy 6% Nonprofit, Government 4% Media, Entertainment 2% Other Manufacturing 7% Other Services 5% Earnings to Tuition Fees Ratio (Median 1.96 Salary considered for calculation)

B-School Profiles

CLASS PROFILE (2011)

Wharton Business School, University of Pennsylvania B SCHOOL DETAILS University School

University of Pennsylvania Wharton Business School

Address

Country Programs Duration Phone Number E-mail

Office of MBA Admissions and Financial Aid The Wharton School University of Pennsylvania 420 Jon M. Huntsman, Hall 3730, Walnut Street, Philadelphia, PA 19104.6340 USA The Wharton MBA 2 years 1.215.898.6183 mbaoperations@wharton.upenn.edu

Website

http://www.wharton.upenn.edu/mba/

B-School Profiles

SCHOLARSHIPS

CLASS PROFILE (2013) Enrolled Class Applications

845 6,442

Intake to Applications Ratio Female Minimum Work Experience

0.13 45% work experience is not mandatory 4 years 36%

Median Work Experience Percentage of International students Countries Represented

ADMISSION DETAILS Test Scores Average GMAT Score

720

Average GRE Score Average TOEFL Score Average IELTS Score

NS iBT* - 110, PBT** - 633 Not Accepted

*(iBT) - Internet Based Test

**(PBT) - Paper Based Test

FEES AND APPLICATION Educational Budget Semesters

Tuition fees - US $ 58,244 Fall

Application Deadlines

Round 1 - October 3, 2011 Round 2 - January 4, 2012 Round 3 - March 5, 2012

Joseph Wharton Fellowship The John M. Bendheim Loan Forgiveness Fund for Public Service Emerging Economy Fellowship Howard E. Mitchell Fellowships Forté Fellowships

Variable amount Wharton will spend up to US $20,000 per year to the recipients’ lenders to pay down their loans. Variable amount Full tuition award US $ 20000

PLACEMENTS Internship Statistics (Class of 2010) Monthly Salary US $ 7,200 Compensation Median Sign-on Bonus US $ 3,000 Top Internship Hirers Boston Consulting Group, Inc., McKinsey & Company, Bain & Company, Morgan Stanley, Goldman, Sachs & Company, J.P. Morgan Chase & Co., Credit Suisse Group, Deutsche Bank, Johnson & Johnson, Lehman Brothers, UBS AG MBA Full time Statistics (Class of 2009) Median Salary US $ 1,10,000 Median Sign-on Bonus US $ 20,000 Top Full-time Hirers McKinsey & Company, Boston Consulting Group, Bain & Company, Morgan Stanley, Citigroup, Inc, JP Morgan Chase & Co., Deloitte Consulting, LLP, Deutsche Bank, Goldman, Sachs & Company, Credit Suisse Group Earnings to Tuition Fees 1.89 Ratio (Median Salary considered for calculation)