B-School Profile: Duke Fuqua

November 13th, 2010

Here at Knewton, we know that business school applications can be a lot of work. We’re eager to do everything we can to help simplify the process. While we can’t write your personal statement (keep dreaming!), we can do some of your b-school research!

In our new B-School Profiles series, we’ve compiled key deadlines, stats, and fun facts about MBA programs around the globe. We’ll be adding many more schools to the series as time goes on, so stay tuned!

Featured B-School

Duke University (Fuqua)

When to apply

Application Deadlines 2010 – 2011:

Early Action: September 30, 2010
Round 1: November 1, 2010
Round 2: January 4, 2011
Round 3: March 8, 2011

Who gets in

Mean GMAT: 688
Median GMAT: 69
Acceptance Rates: 30%
Mean Age of Entering Class: 29

How it compares

Ranking: #8 (Businessweek), #14 (U.S News)

What it costs

Tuition: $95,199
Graduating Salary: $102,331

What the future holds

Alumni include Melinda Gates (co-founder of the Bill & Melinda Gates Foundation), Jeffrey Kip (CFO of Panera Bread), and Jonathan Browning (CEO of Volkswagen).

What’s with the name?

The school is named after billionaire and philanthropist, J.B Fuqua.

Where it is

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How to follow

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MBA Reading List: "Year One"

November 13th, 2010

Welcome to this week’s installment of Knewton’s MBA Reading List. The books we’ll cover are some of the essential texts for anyone interested in management and entrepreneurship — plus they provide some excellent GMAT-level reading practice!

This week’s pick: Year One: An Intimate Look Inside Harvard Business School by Robert Reid

Why It’s Worth Your Time: Whether you’re headed to HBS, contemplating an MBA, interested in exploring career options, or looking to reminisce about those good ol’ b-school days, Year One is the classic business school memoir. Published in 1995, the memoir is beginning to date but will likely gain relevance in the years to come as a reflection of the time and culture in which it was written. Supposedly drafted by Reid during his first year of business school, the memoir is every bit as “intimate” as its subtitle suggests. The book provides a first-hand account of what Reid terms the “lemming march”–the process through which over-achievers double-down at every stage in their lives and continue to compete for prestigious jobs.

What You’ll Learn: In short, exactly what business school is like on a daily basis – from the trivial details to the aimless thoughts, habits, and anxieties. Reid covers the intricacies of the admissions process, the tensions involving study groups and class seating arrangements, the recruiting process, the stress over grades (despite non-disclosure policy), and the competition for summer internships. Unfortunately the book ends rather abruptly after the first year; readers will undoubtedly wonder what happened to Reid and his friends and where they are now.

Want to Read More? Though Reid and some of the other characters are generally ambivalent about the value of the degree (and in some cases, the direction of their lives), they are more or less glad to be in business school and pleased with their career prospects and positions in the world – thus the book’s light-hearted tone and gentle humor. For a more critical (and comical) review of the MBA experience, read Snapshots from Hell: The Making of an MBA by Peter Robinson, a former Republican speechwriter who was admitted to Stanford GSB in the nineties, found the coursework exceedingly difficult, and was hired post-MBA for an elite media job with Rupert Murdoch only to be fired soon after during the ensuing recession. Robinson’s counterpart to Reid’s tamer memoir has been called “wild, weird, and totally accurate” in its depiction of the absurdities of the top MBA.

One-Sentence Takeaway: Candid, funny, and detailed, Year One is a precise account of the first year of the HBS MBA experience.

Is Cathie Black the right pick for NYC School Chancellor?

November 12th, 2010

In a press conference on Tuesday, it was announced that Joel Klein will resign from his post as New York City school chancellor. Mayor Michael Bloomberg has appointed as his replacement Cathleen P. Black, the current chairman of the board (and former president) of Hearst Magazine.

Immediately, Bloomberg’s pick made a major waves in the education community. Black has an impressive media resume but minimal education experience. For many, Black is a blank slate – as evidenced by the general response to her appointment, which ranges somewhere from “Good luck” to “WTF?”

Below, a sampling of the discussion surrounding Bloomberg’s choice:

  • Her education views are a question mark, says an Education Week article by Christina A. Samuels. While her “management acumen” is well-honed (just read her book), it’s all been in the publishing industry.
  • She has the skills for the job, according to a New York Magazine interview with outgoing chancellor Klein.”The issues that will face her – issues with the budget, teacher evaluation, dealing with how you move those agendas at the same time as dealing with budget cuts…are not uniquely found in an education system.”
  • “I have no idea what to think about this,” says Ta-Nehisi Coates, a senior editor for the Atlantic Monthly, in one of the more honest assessments of the situation.
  • “Another bureaucrat more interested in economics than students,” says Alexander Heffner, director of ScoopSeminar.org, in an Aolnews.com editorial. “Black has migrated from one corporate post to another without actually being immersed in the classroom.”
  • “Black was an inspired choice,” according to a NY Daily News editorial. “As a business leader, she sees the challenging new economic landscape for which young people must be prepared.” That said, “the stakes are enormous” and “she should expect little” patience from the public as she learns about the issues facing public education.
  • “Did I already say WTF?” asks The Awl’s Alex Balk in a blog post titled “Media Industry Perfect Training for Running School System, Apparently.”
  • “Couldn’t he find someone from education?” asks Dan Collins in the Huffington Post. Or if not, at least someone from New York, who “knows all the players and the rules”? (Black is from Connecticut.) “And of course… her kids went to private schools. Is it never, ever going to be possible to put someone in charge of the city’s schools who has at least some history with them?”
  • Black isn’t innovative enough, according to a post by Jeff Bercovici on Forbes’ blog. She hasn’t done anything groundbreaking enough in publishing “to suggest that [she] might make up for her lack of experience in education with a surfeit of fresh ideas.” Plus, at Hearst, “Black oversaw an organization of 2,000 employees. New York City employs some 80,000 teachers – and then there are those 1.1 million students to consider, too.”
  • Give her the benefit of the doubt, says Tom Robbins in the Village Voice, although he concedes that “it’s hard to see how the tools for putting out Cosmopolitan (this month’s lead article: ‘First, Take Off His Pants’) and Seventeen (‘Amazing Hair’) instantly translate into running the nation’s largest and most troubled public school system.”

What do you think of Black’s selection?

MBA Workshop Next Week: 5 Steps to Being Accepted to Your Dream School

November 12th, 2010

Next Tuesday, 11/16, Tyler Cormney from MBA Prep School is running a webinar that’s a must for anyone applying to b-school: 5 Steps to Being Accepted to Your Dream School.

And get this: One lucky attendee will win full access to MBA Prep School’s Core Curriculum Package! That’s a $299 value — and a lot of great b-school advice — free. Have you registered to attend yet?

Sign up here ›

A little info about Tyler:

Tyler CormneyTyler Cormney is a veteran MBA admissions consultant and co-founder of MBA Prep School, which helps MBA applicants get into the world’s best b-schools. He holds an MBA from Harvard and a Master’s in Professional Writing from USC, and his guides and e-books are used extensively by top admissions coaches across the country.

MBA Life: An Insider’s Perspective on Columbia Business School

November 12th, 2010

We recently sat down with David Liu, Knewton’s Chief Operating Officer and a graduate of Columbia Business School, to talk to him about his MBA experience.

Why did you choose Columbia Business School? What makes it different from other business schools?

I wanted to have a business education in the business capital of the world.  Being in NYC was a big factor in my choice of b-schools.  Columbia also had a very good percentage of top international students which provided a better perspective on the global economy.  What makes Columbia different from other business schools is that it is in Manhattan and it has such great alumni and corporate partners to connect with.  We could do a case study about how Colgate-Palmolive handled a go-to-market strategy for a new product in the morning and be at their headquarters in midtown speaking with their marketing team by the afternoon.  The list of examples of like that go on and on (in Finance—I-banks, hedge funds, private equity shops, etc.).  It is similar to what Stanford has with respect to its computer science department and being immersed in Silicon Valley.

Businessweek reports that Columbia uses a relatively mixed set of teaching methods, at least compared to some institutions—Case Study: 40%; Experiential Learning: 7%; Lectures: 38%; Team Projects: 15%. Can you tell us how you felt about the academic experience?

It was a top notch academic experience.  What I liked about the program was that it was not rigid about how it approached teaching.  The methods were different for different courses and that made for a more dynamic environment.  You never felt force-fit into a case study method when that may not have been the right way to teach a topic, but case study materials were always available.

What about your professors?

We had top professors from around the world in every discipline. 

Do you have any comments on the facilities at the school?

The facilities were a bit cramped when I attended, but I understand that the school has expanded its facilities in recent years. 

And on the topic of your physical surroundings, what kind of advantages did you experience getting your MBA in New York City? Disadvantages?

Being in NYC certainly had its advantages in terms of being able to easily connect and network with people in the majority of industries that students wanted to learn about and get into.  Meetings are a subway or cab ride away.  Columbia tends to have a lot of alumni in NYC so we had very good access to companies/execs to enrich research projects and case studies.    

The size of a graduating class at Columbia is roughly midway between that of a graduating class at Harvard (around 900 students) and at Stanford (roughly 375). How did you feel about the size of your class?

The class size was about right.  We had around 450 students in our graduating class (with the January starts, we had about 600).  The class was subdivided into clusters of about 60-70 students.  We took all of our 1st year courses with people from our cluster. 

Business school can be a very social experience. Can you describe your interaction with your classmates?

At Columbia, the b-school can be as social as you want it to be.  The experience is social at its core and you could easily make new friends, while those who had been living in NYC could continue to have a life outside of business school.  As at most business schools, there was no shortage of opportunities to socialize.

And of course, quality of alumni networks is a big factor in a choosing a business school. Have you utilized Columbia’s alumni network?

I end up tapping into every network I have in some way.  Whether it’s Columbia classmates, former colleagues, or friends, the quality of the network is a function of what you put into maintaining it.  

Is there anything else that you feel illustrates your MBA experience?

I had a great time in business school.  It was competitive, intellectually stimulating, social, and fun.  I would recommend Columbia to anyone interested in getting an MBA.

2010 BusinessWeek B-School Rankings are Out!

November 11th, 2010

Best B-schools - Businessweek Rankings 2010The 2010 Businessweek ranking of MBA programs is out! For the third year in a row, the University of Chicago Booth School of Business is the #1 program in the U.S. Booth’s phenomenal job placement rates, world-renowned faculty, alumni network, and excellent reputation among students and recruiters helped determine the ranking. Runner-ups include Harvard, Wharton, Kellogg, and Stanford. In general, the top-ranked schools received excellent scores for corporate recruiting and had graduate placement rates in the high 80s or low 90s. Within the top 5 ranked schools, acceptance rates ranged from 6% to 22% and graduate starting salaries from $102,000 to $120,000. These rankings, based on tens of thousands of surveys, are one of the most highly regarded in the country–the other significant ones being the U.S News, Forbes, and the Wall Street Journal rankings. Businessweek’s rankings are known for their statistical basis and their emphasis on school reputation (in the minds of students and recruiters); other rankings emphasize factors such as graduate starting salary to a greater degree.

The following are answers to some of the most frequently asked questions about the ranking.

How does Businessweek determine which schools are eligible for the ranking?

Businessweek looks at several statistics including but not limited to: age of the MBA program, enrollment, test scores, acceptance rate, and number of international and minority students enrolled. A program must be accredited to be considered for ranking.

When is the MBA ranking published every year?

The MBA ranking is published in late October or early November in even-numbered years. The last ranking was published in 2008.

What sources of data does Bloomberg Businessweek use to rank MBA programs?

There are three main sources of data are as follows: a student survey, a survey of corporate recruiters, and an “intellectual capital” rating which is derived from a study of faculty publications.

When and how are the student surveys conducted?

The student survey is distributed online in early May to student email addresses supplied by programs and is available for several months. Students are directed to a survey site where they can complete the survey, which consists of about 45 questions that require students to rate their programs on factors such as teaching quality, career services, alumni network, and recruiting efforts. Using the average answer and standard deviation for each question, a student survey score is determined for each school.

When and how are the recruiter surveys conducted?

Recruiter surveys are distributed in July. Businessweek creates a list of companies recruiting from the programs and identifies a single recruiting contact for each company (in some cases, more than one recruiting contact from a specific firm is asked to complete the survey for a particular school). These company representatives are directed to an online survey and required to rank 20 top schools. To determine each school’s recruiter score, each school is given a total number of “recruiter points.” 20 points are awarded for every No.1 ranking, 19 points for every No.2 ranking, 18 points for every No.3 ranking, and so forth. A numerator is calculated which consists of the sum of each school’s points from a specific recruiter multiplied by the number of MBAs hired that year by that specific recruiter. The denominator is the sum of the number of times each school is identified as a recruiting location multiplied by the number of MBAs hired by each recruiter. To determine the final “recruiter” score for the program, the numerator is divided by the denominator. The highest scoring programs receive the highest “recruiter” rankings.

How is the intellectual capital score determined?

Businessweek peruses 20 top academic journals for articles published by each school’s faculty. The journals are The Harvard Business Review, Journal of Marketing, Operations Research, Information Systems Research, Journal of Finance, American Economic Review, Journal of Accounting Research, Journal of Financial Economics, Management Science, Academy of Management Review, Journal of Marketing Research, Strategic Management Journal, Accounting Review, Academy of Management Journal, Production & Operations Management, Journal of Business Ethics, Journal of Consumer Research, Review of Financial Studies, Administrative Science Quarterly and Marketing Science. Extended articles receive three points; short articles receive one point. Reviews of faculty-written books that appear in the New York Times, the Wall Street Journal, and Bloomberg Businessweek are awarded 5 points each. The total number of points for each school is divided by the number of full-time faculty at each school to adjust for faculty size.

How are the various factors (the student ranking, recruiter ranking, and intellectual capital ranking) weighted?

The combined weight of the three most recent student surveys contributes to 45% of the final ranking; the three most recent recruiter surveys are combined for a total recruiter score that contributes to another 45%; and the intellectual capital ranking contributes to 10% of the aggregate ranking.

How is cheating discouraged?

Statisticians David Rindskopf and Alan Gross use a series of analyses to test the survey responses for results that have a low probability of occurring if students are answering honestly. A series of questionable responses may prompt investigation. Evidence of coaching at any school may be grounds for that school’s elimination from the ranking. Aside from supplying Businessweek with email addresses for their students, business schools do not play a role in determining the rankings and are not allowed to coach students (either directly or indirectly) on how to respond.

MBA Workshop Added: Harvard, Wharton & Stanford – Navigating the Trilogy

November 11th, 2010

Get excited: We’ve added an awesome webinar to our MBA Workshop Series.

Even better, a few lucky attendees will get free b-school essay feedback from an expert at Clear Admit!

On Tuesday, 11/23, join Brett Haber — a Wharton grad and former admissions officer — for a guide to applying to the Holy Trinity of MBA programs: Harvard, Penn, and Stanford.

For a chance to get your essay reviewed live, just send your personal statement to essays@knewton.com once you register.

Ready? Sign up here ›

We’ll send you a link to attend — then make sure you send in your essay!

A little info about the expert:

Brett Haber, a Clear Admit admissions expert, earned an MBA with a concentration in Finance from Wharton. She was a member of the admissions committee for several years after receiving her MBA, evaluating thousands of applications, conducting applicant interviews, and helping to promote ties within the Wharton alumni community.

The National Education Technology Plan: 5 huge assumptions about learning are about to change

November 11th, 2010

This week, the ‘finalized’ version of the National Educational Technology Plan (NETP) was unveiled, setting guiding lights for edutech professionals on all levels.

Corralled by Education Secretary Arne Duncan and Director of Educational Technology Karen Cator, hundreds, if not thousands, of the luminaries from every sector of the education world have weighed in on the plan, which addresses virtually every aspect of modern edutech: assessment, infrastructure, lifelong and informal learning, video games, adaptivity, collaborative learning, teacher tools… the list goes on.

But perhaps one phrase, repeated throughout the document, wraps it all up:

“Rethink basic assumptions.”

Here’s one: In true Web 2.0 fashion, the NETP draft has been publicly available for the better part of this year, with every individual section open to comment. Many an edutech twitterer and blogger have weighed in, and the distinct voices of k-12 educators, education researchers, data wonks, and privateers were all heard in the brilliant, if cacophonous, debates.

Other big assumptions that will be rethought in coming years:

1. Teachers aren’t wired or tech-savvy.

The NETP gives us this robocop vision of the teacher of the future: interconnected, armed with legions of learning tools, and ready to be Googled or friended with pride, or to create hyper-modern technological lessons for her or his students.

2. Tests are for accountability

The NETP hopes that tests will change from the high-stakes, funding-determining nail-biters they are currently into continual, embedded check-ins that provide massive amounts of data to improve learning outcomes. Heck, maybe they could even be fun — something that game developers have been saying for years.

At Knewton we’re big believers in idea that assessments can be used to help students learn, instead of just as yardsticks for how far they’ve come. The key is to make sure that tests are part of a flexible, adaptive learning system that adjusts according to students’ needs.

3. Facebook (and other social networks) are for shenanigans

The spectre of social communities pervades the NETP; it looks like the DOE can see the writing on the wall (pun intended). Surprisingly, 30% of college students already use social networks for coursework and a quarter would like them to be used more for coursework. It’s only a matter of time before one “likes” Orgo, and companies like Schoology are banking on it.

4. One Size Fits All/All Tracking is Unfair

The education community has had a long, strange relationship with tracking; grouping students by ability level, learning style, or anything else. In fact, our entire political system and the American constitution (House and Senate, electoral college) have struggled with the question of how to help everybody — that’s democracy, right? –without interfering with personal liberties and rights.

Gifted education, bilingual education, school desegregation, parochial schooling, remediation stigmas, gender biases, unisex schools — the list of educational arenas in which the struggle is re-eneacted goes on and on. Technology is the latest (and greatest?) hope for personalized, adaptive learning that both reaches out to individual students AND enables every student to work alongside peers.

5. School stops at 18

The NETP discusses “informal learning” and “lifelong learning” with a somewhat different air than the usual “adult learning” crowd. After all, on the internet, no one knows you’re a dog — and if education is everywhere, why waste it on the young?

The plan is just that — a plan. Now it’s up to us in the edutech world to make it a reality.

Watch a video of Karen Cator, Director of the Office of Educational Technology, going through the plan here:

Top 10 cities checking out our challenge questions

November 11th, 2010

That’s the nice thing about teaching online. When you post a challenge question, folks from all over the world come to give it a shot!

Here’s a peek at the 10 cities with the most visitors to our latest tricky GMAT question. Bangalore is representing right now (New Delhi is close behind). As a Texan, I’m also glad to see Houston fighting its way on to the list.

Top 10 Cities

Short Fiction to Help You Prepare for the SAT (and Beyond)

November 11th, 2010

Sick of flipping through the Blue Book for sample Reading Comprehension passages and toting stacks of flashcards around to practice vocabulary? We’ve compiled a list of our favorite short fiction to help you prepare for the SAT, college, and beyond. As you read, be sure to note unfamiliar words and quiz yourself about the story’s structure, point of view, and argument, if applicable.

With these engaging page-turners, SAT prep might even begin to seem – dare we say it? – fun.

1. The Knife Thrower and Other Stories by Steven Millhauser

This is reading like you’ve never seen it before: dark, forbidden and indulgent. Flying carpets, a diabolical theme park, an enchanted emporium, a midnight baseball game, a mysterious sisterhood… Whatever his subject, Millhauser imbues it with his trademark style – gorgeous sentences, a strong sense of atmosphere, and a love for extremes. The Knife Thrower and Other Stories has been called one of the “cleverest, sexiest” story collections ever written and is perfect for the modern Romantic, or anyone who wishes to find the sublime in ordinary life.

2. The Ballad of the Sad Cafe (and other stories) by Carson McCullers

Carson McCullers’ literary output was famously slim but exceptional. Her novella, The Ballad of the Sad Cafe, is considered one of the finest ever written. It depicts the love triangle of headstrong cafe-owner, Miss Amelia, hunch-backed Cousin Lymon, and ex-convict, Marvin Macy. Told in a readable, limpid style, this southern Gothic tale is exactly what its title suggests it is–a song-like story that explores the relationships between “lover” and “beloved” and begs the question, “Are we doomed to love only those who do not love us back?”

3. The Dubliners by James Joyce

Joyce’s “The Dead,” one of the stories included in this collection, is famous for the epiphany at its conclusion. One of the most analyzed stories ever written, it tells the story of a commonplace dinner party at the end of which the awkward and self-deluded Gabriel Conroy comes to terms with the true nature of his relationship with his wife and those around him. Whether you plan on majoring in English or squeaking by with Composition 101, you’ll probably be assigned this piece at some point in your life.

4. Goodbye, Columbus by Philip Roth

Goodbye, Columbus was written by Roth before American Pastoral, Portnoy’s Complaint, and the many other novels about sex, death, marriage, politics, and Jewishness that comprise his extraordinary body of work. Among other stories, the book contains a novella which concerns the summer romance between the humble Neil Klugman and self-assured and wealthy, Brenda Patimkin. Winner of the National Book Award, Goodbye, Columbus is the first collection from a writer who redefined the possibilities of American fiction with his comic genius, sculpted rage, and verbal wizardry.

5. Interpreters of Maladies by Jhumpa Lahiri

Some of the most perfect stories ever written (one reviewer compared these bittersweet, elegant tales to “mathematical proofs”). This Pulitzer-Prize winning debut concerns age-old subjects like young love, separation, infidelity, cultural shock, and generational conflict. In the tradition of John Cheever and Raymond Carver, Lahiri’s understated, resolutely plain prose conveys epiphanies and moments of insight and wonder with remarkable assurance and restraint.

6. Joy Luck Club by Amy Tan

Though almost a cliche of literary excellence, this collection sets the standard for novels-in-stories and multi-generational women’s fiction. Love ‘em or hate ‘em, Tan’s stories are compulsively readable, appear in countless literary anthologies, and are often excerpted on standardized tests. These timeless tales concerning Chinese and Chinese American women are set in modern-day San Francisco and early twentieth century China, and focus primarily on mother-daughter relationships and the deep, unspoken bonds between women.

7. Everything That Rises Must Converge by Flannery O’Connor

The name, “Flannery O’Connor” is practically synonymous with “southern Gothic.” Dark, grotesque, and disturbing, these stories concern subjects such as racial bigotry, hypocrisy, self-delusion, false liberalism, religious fervor, and alienation. Punctuated by moments of violence and fierce conflict, this collection is classic O’Connor and especially notable for its title story which concerns floundering Julian Chestney and his contempt for his mother’s racism.