MBA News Roundup: Competition for U.S B-Schools, Demystifying Your GMAT Score, and an MBA for Globetrotters

April 18th, 2011

Welcome to another installment of Knewton’s MBA News Round-up! This week, check out articles on Darden’s new MBA for globetrotters, the collaborative relationship between b-school and NGOs, and international competition for U.S business schools.

1. U.S Business Schools Get More Competition From Abroad

Programs in Europe and Asia are getting better and better. How is this impacting application numbers to U.S programs?

2. Demystifying Your GMAT Score

There’s a raw score, a scaled score, and a total score… Where did these numbers come from? What do they mean? And how do they relate to percentiles?

3. Bleeding Heart, Bottom Line

Business schools are tapping into the expertise of NGOs on social and environmental issues. Check out what’s new at programs around the world.

4. If Harry Potter Had an MBA

Brand managers and PR specialists abound in Potter-world. If MBA madness has worn you out lately, check out this playful fusion of two very different worlds.

5. MBAs for Globetrotters, Priced at $140k

Some MBA programs are taking globalization to another level. Darden’s new executive program includes exotic residencies in Brazil, India, Europe, and China. Is it worth the cost?

 

 

EdTech Blogs We Love: TeachPaperless, Clint Lalonde, TipLine

April 18th, 2011

In this week’s EdTech Blogs We Love, check out three great blogs helping to advance the educational technology field.

TeachPaperless

TeachPaperless started as a blog detailing teacher Shelly Blake-Plock’s quest to teach in a paperless classroom. Now, TeachPaperless has grown into a collaboratively written blog (there are 10 contributing writers in addition to Blake-Plock); one of the blog’s greatest strengths lies in its diversity of perspectives. TeachPaperless also goes beyond merely documenting trends in educational technology to speak to broader issues of pedagogy and student engagement.

Check out posts like:

TipLine – Gates’ Computer Tips

TipLine is written by Jim Gates, a 30+ year veteran of the education field who is passionate about using technology to enhance teaching and learning. TipLine features a weekly roundup of helpful tech tips, as well as impassioned “thought pieces,” based on anecdotes and/or personal experience, that serve as springboards for broader discussions about technology and learning.

Check out posts like:

ClintLalonde.net

Clint Lalonde works at the Manager of Learning Technology at Royal Roads University, a Canadian school which blends online learning with on-campus residencies and bills itself as “Canada’s University for Working Professionals.” ClintLalonde.net, his personal blog, contains a plethora of thoughtful posts analyzing recent studies, articles, and personal experiences related to educational technology.

Check out posts like:

 

EdTech News Roundup: The Netflix Effect, Student Privacy Safeguards, and Librarians as the Future of EdTech

April 16th, 2011

In this week’s EdTech News Roundup, check out articles about “smart” course recommendations, new student privacy safeguards, and why librarians might just be the future of campus computing.

1. The Netflix Effect: When Software Suggests Students’ Courses

A handful of colleges have begun using software similar to Netflix’s movie recommendation engine–except instead of recommending movies to watch, they’re helping students choose what courses to take. Read more about the pros and cons in this article from The Chronicle of Higher Education.

2. U.S. Education Department Launches Initiative to Safeguard Student Privacy

The U.S. Department of Education recently announced new measures to safeguard student privacy, while clarifying the laws around states’ sharing of school data. Read more in this article from EducationNews.

3. Reversing Course, U of California to Borrow Millions for Online Courses

The UC system announced that it will borrow at least $2 million to build online courses–rather than relying on outside grants or donations, as university leaders previously stated. Read more in this article from The Chronicle of Higher Education.

4. Idaho Law Favors Tech Over Teacher Salaries

The governor of Idaho signed into law Friday the centerpiece of a major education reform plan that shifts money from salaries to fund new technology and teacher merit pay. Read more in this article from eSchoolNews.

5. 5 Reasons Librarians Are the Future of EdTech

Read more about why the future of campus computing belongs to librarians in this article from Inside Higher Ed. Hint: technology experience, collegiality, and service orientation are all important factors.

Life After B-School: 5 Very Different HBS Grads

April 15th, 2011

There are countless career possibilities for MBAs. Sure, many b-school grads go into banking and consulting, but a large proportion also end up forging less well-trod paths. In this new series, we’ll chronicle the career paths of MBAs from a variety of b-schools. Many of the names and occupations may be familiar to you — but others might catch you by surprise.

In the first installment of the series, check out five HBS alums who set out on very different paths.

The Educator:

Salman Khan, MBA ‘03
Khan is the founder of Khan Academy, a not-for-profit organization with the goal of providing “a free world-class education for anyone anywhere.” Khan Academy began when Salman Khan began tutoring his 12-year old cousin in mathematics remotely, using a shared online notepad service. Soon, her success led other cousins to ask for Khan’s help; to make the process more efficient for everyone, Khan began producing Youtube videos and writing Javascript problem generators so that his cousins wouldn’t run out of practice problems. His Youtube channel exploded, and eventually Khan quit his hedge-fund job and began to work full-time on Khan Academy. Kahn is a good example of an MBA who originally entered the world of finance (as a hedge fund analyst) only to go on to use his business acumen to develop a small seedling of an idea into a wildly successful organization.

The Politican:

Michael Bloomberg, MBA ‘66
Bloomberg is currently in his third term as the Mayor of New York City. Before embarking on his political career, Bloomberg had an extensive career as a businessman and entrepreneur. After being fired from his position as general partner at Solomon Brothers in 1981, he went on to found Innovative Market Solutions (later renamed Bloomberg L.P.), which now features prominent financial software tools like the Bloomberg Terminal, Bloomberg Tradebook, Bloomberg Messaging Service, and the Bloomberg newswire. Bloomberg was the CEO of Bloomberg L.P. until he decided to make a shift to politics. As #30 on Forbes’ 2011 list of The World’s Billionaires, Bloomberg is well-known for his philanthropic contributions to a variety of organizations.

The Reality Star:

Stacie Scott Turner, MBA ‘96
Though Turner might be most widely known for her turn as a cast member on The Real Housewives of DC, to be fair, she’s done a lot more than simply broadcast her inner cattiness to the world. Turner, a successful real estate agent currently with Long & Foster, has also worked at companies like BET and Procter and Gamble. In addition, Turner founded Extra-Ordinary Life, a charitable organization that aims to nurture teenage girls living in foster care. As her cast bio from The Real Housewives puts it, Turner “has it all — a Harvard MBA, successful real estate practice, and vigorous civic and philanthropic agenda.”

The CEO:

W. James McNerney, Jr., MBA ‘75
McNerney has been Chairman, President and CEO of The Boeing Company since 2005. Prior to working at Boeing, he was President and CEO at 3M and held top executive positions (President and/or CEO) at various divisions of General Electric. McNerney, who began his post-MBA career as a Brand Manager at Procter & Gamble and a Senior Manager at McKinsey & Company, is a good example of a business school alumni who worked his way up from traditional post b-school jobs to top positions at major corporations.

The “Father of the Spreadsheet”:

Dan Bricklin, MBA ‘79

Dan Bricklin and Bob Frankson, 1980

Ever used Excel? If so, you may want to thank Dan Bricklin. Bricklin, along with Bob Frankston, is commonly referred to as the Father of the Spreadsheet for his invention of VisiCalc spreadsheet program in 1979. As the first electronic spreadsheet, VisiCalc helped the computer become a serious business tool — it was interactive and powerful, and many aspects of its user interface are still present today in popular spreadsheet programs like Microsoft Excel. VisiCalc was widely accessible (it was distributed for $100), especially compared to the financial tools that preceded it. Bricklin used his business acumen, as well as his degree in electrical engineering and computer science from MIT, to make Software Arts, Inc., the company that sold VisiCalc into a success. He went on to found Software Garden, a consulting firm and software developer, and Trellix Corporation, a provider of web site publishing software and management services.

Meet the Video Team: Dave Ingber, Master Teacher

April 14th, 2011

In this installment of Knewton Peeps, meet Dave Ingber, a member of the video and product team and our of our esteemed instructors.

Name:

David Ingber

Position:

Master Teacher

What were you up to before you came to Knewton?

Doing stand-up comedy around the city and writing musicals (I still do
the second one) (Ed. note: Check out one of Dave’s musicals, Fantasy Football: The Musical? here!)

What part of your job do you enjoy most, or what’s the one accomplishment you’re most proud of?

I taught a seminar for the SAT one time about getting “unstuck” on math questions. We’d tackle an extremely tricky problem simply by “doing something,” as opposed to freezing up, as many test-takers do. After the class was over, every student in the class sent me a very nice message, either about how much fun they had or how much more confident they felt. I really, really love teaching.

What are you working on now?

I am on the team that creates 5-10 minute math videos that can be watched by college students who need extra help while working through their textbooks.

Any hobbies, secret quirks, or talents?

I write musicals! Also, I can make the drip sound that Cameron makes in “Ferris Bueller’s Day Off.”

What’s your favorite place or neighborhood in NYC?

Riverside Park, near my apartment on the Upper West Side.

10 Tips for Nontraditional Applicants Applying to Business School

April 14th, 2011

Not all b-school applicants are quant superstars with a few years of Wall Street experience under their belt. If you’re a nontraditional applicant, here are a few pieces of advice.

1. Make sure to demonstrate your quantitative ability in some way.

Lack of quantitative preparation is one of the biggest reasons applicants are denied from MBA programs.  So, how can you show you won’t balk at spreadsheets and graphs? Get some proof you’ve handled similar material before. If you left college without a course in finance, accounting, statistics, or economics under your belt, see tip #4. Next, do everything you can to get a high GMAT math score. While any scaled score in the 40s is superb, 90th percentile is around 49 to 50. This accomplishment speaks volumes and is bound to impress admissions officers, especially if you were an English major. And finally, simply excel at the quantitative parts of your job and try to have something to show for it, whether a promotion or a recommendation letter. If your job involves minimal quantitative work, you might want to build it into your responsibilities (if possible) or look for ways you can showcase your skill in extracurricular activities.

2. Demonstrate leadership.

Be creative if necessary. Influenced management at your company to undertake a successful venture? Led a dangerous mountain expedition? Oversaw a construction site with 300 workers? Started a non-profit that helps businesses become more sustainable?

Odds are that if you’re a non-traditional applicant, you have a knack for leadership; otherwise you wouldn’t be interested in management in the first place. Don’t panic, however, if you feel there are no opportunities to display leadership in your current situation. Leadership is about action, not titles. Here are five lesser known, but real and substantial ways to demonstrate the quality:

  • Mitigate or minimize risk for a group
  • Influence others
  • Achieve consensus across groups
  • Recognize opportunity
  • Challenge the status quo

3. Press harder on what you’ve got.

Whether you’re a star athlete, a musician, a poet, or an engineer, you likely have special talents and interests that lie outside the business realm. Remember that top business schools are looking for world-class talent regardless of field and that they value diversity. To the extent that you can ramp up your business knowledge and continue to excel in other areas, you should. Remember: you want to build, amplify, and extend what you already have, not replace it altogether.

4. Consider boosting your business coursework.

If you’re an economics major who ended up teaching math in an inner city high school, you’re probably good as far as coursework is concerned. If you’re a poet, you’d be well advised to brush up on the core business subjects including accounting, finance, statistics, and economics. Don’t be daunted by the amount of work you’re facing! You may be surprised at how quickly perceptions of you change once you’ve taken the steps to change them.

5. Know exactly what you want to do post-MBA.

Expect that others will be skeptical of your MBA ambitions. Counter their skepticism by knowing exactly (and I mean, exactly) what you intend to do afterward and why you are suited for it. Practice answering questions like the following: “Yes, but how do you know you will like it? How do you think your current work is going to prepare you for that?” Understand the language, jargon, and mindset of those in your intended field, and be familiar with industry developments. This will ensure that your expectations are realistic.

6. Get familiar with the business world.

This is related to point #5. You can’t fake formal business training, but you should certainly display a keen interest in business. Start reading business publications like The Economist, Businessweek, or the Wall Street Journal. This kind of knowledge can take awhile to develop, so start familiarizing yourself immediately. Don’t try to “cram” or you will be overly influenced by a single book or article and your displays of knowledge will come across as forced.

7. Find role models.

If you’re a nontraditional applicant, chances are you’re not like everyone else from your original field of expertise. It can be confusing, not to mention disheartening and downright lonely if you’re the only one in your circle with business inclinations. Make an effort to find some role models — figures from the business world who started off as artists, journalists, and scientists and whose business careers were enhanced by their knowledge of something other than business. Notable examples include the poet Dana Gioia, former chair of the National Endowment of the Arts who received an MBA from Stanford. For a funny, candid account of business school from a former speech writer and self-named “poet,” check out the book Snapshots from Hell — it doesn’t try to sell the b-school experience, but if you read it and are still determined to go, you can be sure that business school is truly for you.

8. Find mentors with MBAs.

Now that you’ve begun to familiarize yourself with the business world, you need someone to talk about it with. Someone who holds an MBA will be able to offer perspective and contextualize the information you have absorbed recently. Remember: don’t be rigid or defensive when accepting feedback about your essays and your post-MBA plans! Others may not be well-versed in your field of expertise but they may have other domains of knowledge that are valuable to you.

9. Know that b-schools want you as much as you want them.

MBA programs are trying to reach out to people from non-traditional backgrounds. Why? A class full of bankers and consultants is boring. And b-schools want to build connections between the less-typical employers and their own programs, so that students who want jobs in those areas will be able to get them later on. This improves their placement rate and their employer network.

10. Get experiences that showcase other sides of your work personality.

Here’s a question you should bank on getting from admissions officers: “How will you go from being a leader in a creative environment to being a student in a quantitative, metrics-driven environment?” Think about how you will answer that question and if you need to build any experiences that demonstrate your comfort with different professional situations before you start the application process. Remember: admissions officers will connect the dots in your application even if you don’t. Don’t write that you are a great team player if you’ve never worked on a team before. Especially as a nontraditional applicant, your story has to make sense.

MBA Admissions Tip: Addressing Academic Weaknesses

April 13th, 2011

This post was written by our friends over at Clear Admit. For more MBA admissions advice, check out their blog.

To follow up on last month’s advice about GMAT preparation and timing, we wanted to offer some general comments about the role of academics in the admissions process. Many candidates considering business school focus on the credentials they will hold and the network which they will be a part of upon graduation, but it is important to keep in mind the academic experience at the heart of any MBA program. Because a business school is, after all, a school, it makes sense to begin your consideration of your profile by thinking about your academic aptitude and track record to date. Your performance in your educational endeavors up to this point will be treated as a predictor of your success in business school.

While this is all well and good for applicants whose undergraduate GPAs and GMAT scores are close to the average of students at their target schools (about 3.5 and 710 for the top programs), things become a bit trickier for candidates who fall below the pack in either or both of these categories. Retaking the GMAT is always an option, but this can become counterproductive after the first two or three attempts, and there is obviously nothing to be done to alter one’s college marks. If the other aspects of your candidacy are strong and you’re only lacking in one of these two academic areas, an effective strategy is often to use an optional essay to acknowledge that one of these numbers is below the school’s average and assure the adcom that the other is the more accurate indication of your academic ability.

Meanwhile, applicants who fall short in both of these measures – as well as anyone who simply wants to strengthen his or her academic profile or falls well below the average in GMAT or GPA – should consider putting together an alternative transcript that demonstrates a track record of As in quantitative coursework (e.g. in basic classes in accounting, statistics, calculus or economics). These classes can be taken at any community college or even through an accredited online program. This is a particularly sound strategy for candidates who focused on the social sciences or humanities in college and do not have a record of demonstrated success in quant-heavy disciplines. Applicants can then point to this as a more recent – and therefore more accurate – reflection of their present abilities in a classroom setting. While one or two classes can suffice, keep in mind that the more classes one takes, the more convincing this argument becomes (assuming strong performance in these supplemental classes, of course).

Of course, these are general guidelines about the ways that one might address a shortcoming in a single element of the admissions process. For a more detailed evaluation of your entire candidacy and more comprehensive advice about your applications, send your resume to info@clearadmit.com for a free initial consultation.

Spring Cleaning for Your GMAT Prep

April 13th, 2011

Feeling overwhelmed or disorganized in regards to your GMAT prep routine? Here are a few ways to “dust off” your habits just in time for the warmer weather. Remember, the more targeted and efficient your study plan, the more time you’ll have to spend outside in the sunshine!

1. Refresh your GMAT score.

Reassess yourself by taking another practice CAT if you haven’t already. Be sure to take the CAT under test-like conditions in order to ensure your score is an accurate reflection of your skills. Take only official breaks, and don’t cheat yourself by consulting outside study materials. Having an updated benchmark will help you evaluate how successful your prep has been thus far, and figure out what changes (if any) you should make to your study plan.

2. “Deep scrub” in areas of weakness.

If you are getting almost every question wrong for a specific question type, go back to the basics. Review underlying question patterns and trap answer choices, then clear your head and take a break. This way, you’ll return to the question type with renewed energy. Be sure to take the time to read each question carefully; you may be surprised at the extent to which mistakes can be avoided by truly understanding what each question is asking.

You can certainly learn quick tricks to help increase your score, but these strategies will be most effective when combined with long-term study. To improve your verbal score, for instance, it may be helpful to start reading high-caliber publications. To improve your quantitative ability, begin by re-familiarizing yourself with the fundamentals: number properties, basic geometry, arithmetic, and algebra. You may not see results immediately, but short-cuts (which are crucial if you want to have enough time to complete the exam) often involve a familiarity with numbers that can be cultivated over a long period.

3. Sweep away bad habits.

Identify and make an effort to break any unhelpful habits you’ve developed during your GMAT prep. The following is a list of common tics/anxieties/behaviors you can certainly do without:

  • Consulting outside sources during practice CATs (the best way to figure out what you don’t know is to find out by getting the question wrong the old-fashioned way: so don’t cheat)
  • Skipping the AWA section during practice (the extra hour will erode your concentration if you’re not used to it)
  • Double-checking when you’re 95% sure (don’t waste your time)
  • Not knowing that the fraction, ⅛ is 0.125 (you should have the equivalencies for ⅙, 1/7, and 1/9 memorized)
  • Being too lazy to “test out” answers or draw a diagram (sometimes the best way is to simply write)
  • Skimming reading comprehension passages when you shouldn’t (don’t cut corners; instead, figure out what to look for)

4. Organize your “chores” and check them off your list.

Now is as good a time as any to tie up loose ends in your study regime! This may include the following tasks:

  • Form a study group (if studying with other people is helpful for you)
  • Complete those extra practice problems you’ve been meaning to do
  • Register for a GMAT class
  • Review questions you got wrong on previous CATs or exercises
  • Learn quant short-cuts; they’re necessary to solve some math problems (no, the test-makers don’t expect you to actually multiple a number by itself 430 times)
  • Memorize formula, rules, and vocabulary (it’s “forbidden to,” not “forbidden from”)
  • Learn useful equivalencies (for instance, that ⅛ is 0.125)
  • Get your number properties straight (for example, know that a number is divisible by 6 if it’s divisible by 2 and by 3)

5. Polish and shine.

A few weeks before test day, consider taking three or four practice CATs to help yourself get used to the level of mental and physical endurance required. This exercise will also help you “polish” your pacing strategies across different sections. For example, if you’re spending 2 minutes per question in Data Sufficiency, study short-cuts so that you can move more quickly through these questions. If you’re getting early, easy questions wrong due to carelessness, be sure to read these questions more carefully and stay attuned to details.

Law School Admissions Tip: Choosing Between Schools

April 13th, 2011

Every other Wednesday, our friends at Clear Admit will share a helpful law school admissions tip. For more, check out their blog.

With the majority of schools having released their decisions, many successful applicants will soon be facing the enviable – but often agonizing – decision of choosing between programs. Though we know that those of you in this position will already be juggling an overwhelming amount of information about the schools on your short lists, we wanted to offer a few pointers to consider as you identify and evaluate the most important facts and factors in making this decision.

1) Immerse yourself. If you have not yet visited campus, go to the school and see what you think of the environment. Be sure to attend classes, talk with students, tour the facilities, and so on. Even if you have already made the trip, it’s a good idea to attend the school’s events for admitted students to meet your potential classmates. After all, these are the folks whose thoughts you will be hearing in class for two years and who will making up your future network.

2) Consider your immediate priorities. Think about the location, size, teaching method, etc. Are you looking for a close-knit, “we’re all in this together” sort of experience, or would you prefer to attend classes and then disappear into a large city with a few classmates or old friends? Do you need the benefits of a large university to pursue coursework in a specific field? Do you crave lengthy discussions with faculty? Do you have family or a significant other who might need to consider location? Is there a teaching method that might better address your weaknesses or best suit your learning style? Reflecting on the relative importance of each of these questions might help you to organize your thoughts about and the information on each program.

3) Look farther forward. In addition to the experience you would have as a student, try to get a sense for the school’s track record in your target field. For example, if you hope to work in environmental law after school, take a look at each program’s placement statistics with the firms or organizations that are of interest to you. Talk to the career management office and find out which firms came to campus and how many offers were made. You might also try to contact alumni who work in your target field and see what they have to say about their alma mater’s strength in that area.

4) Think big. Beyond the job you hope to secure immediately after school, consider the program’s regional and global brand. For example, if you dream of working in Los Angeles but are debating between two programs on the East Coast, it might be important to determine which has the greater West Coast presence.

These are just a few general tips to get you thinking about how to make your law school decision. It goes without saying that this is a once in a lifetime decision, so it certainly makes sense to do your homework and fully understand the strengths and weaknesses of each of your options. Rankings are a good starting point for a school search, but should not be the deciding factor. Another thing to remember that the shoe is finally on the other foot, and that the schools are now the ones marketing themselves to you. Be sure to take advantage of their offers to answer any questions you may have.  Finally, be sure to check out the Clear Admit Law School Guides for more information on the schools at which you have been accepted!

 

Student Spotlight — Justin Bohn: A Rock Climber Who Rocked the GMAT

April 12th, 2011

In this installment of our Student Spotlight series, meet student Justin Bohn, who lives in Germany and managed to raise his GMAT score by a whopping 130 points (from 570 to 700!). Plus, he already got into b-school… in Barcelona! Read on for more.

Name:

Justin Bohn

Hometown:

Cologne, Germany

Current job?

Mergers & Acquisitions advisory

Why do you want to get an MBA?

Upon graduating from Maastricht with a Bachelor in Economics I intended to pursue internships over the course of a year in order to subsequently return to academics for a master, when I knew on which area I would want to focus. A confirmed interest in my field of choice and a desire to master the M&A profession along with a collegial and challenging work environment, however, led me to stay with WestLB. I decided to pursue the CFA accreditation as a substitute for a specialized master with the goal of gaining an MBA degree in the future. In 2008, my employer, aware of my future ambitions and in the context of my professional development plan, instead of paying a bonus, offered me to sponsor an MBA conditional upon my passing CFA Levels 2 and 3 in consecutive years. Fortunately, I managed the CFA challenge, which allowed me to embark on the GMAT fun in 2010.

I view an MBA degree as a milestone to advance my career ambitions. After what will be more than five years in M&A advisory, I desire to evolve and eventually cross borders to the “non-advisory side” of the economy. My aspiration is to build on my M&A experience, ideally in corporate development and strategy. I want to move from advising to implementing transactions and strategic advice, to creating value and shaping a business and its future. I strive to assume entrepreneurial responsibility and form part of a management team responsible for a business and its stakeholders. I see no better alternative to achieve these ambitions – including at some point in the future potentially setting up my own business – than earning an MBA now. I can, however, just as easily picture myself working for some non-profit and doing “something good”… we’ll see where it takes me… I hope that the MBA will open doors into various directions…

And hey, a year off work, in Barcelona (I got into Esade there), with as much rock climbing and fun as possible…who wouldn’t wanna do that?

What’s your dream job after b-school?

Kind of already answered this above…my dream job? Setting up my own rock climbing gym and then going into venture capital…

Can you tell us a bit about your experience prepping for the GMAT?

I found all the quant stuff most challenging, especially data sufficiency. Honestly, I hated the GMAT experience – thanks to Knewton, however, it turned out a lot less gruesome…I followed a six week course and then took another month to prepare (mostly for quant though). In the end I didn’t do as well as I wanted in the quant section…but overall Knewton and all the prep bumped up my score from 570 to 700 – so that was great.

Any Knewton teacher shout-outs?

All the classes were fun…and I always checked out Dave’s recorded quant sessions cause he is awesome. Had they been actual physical classes I think I would have fallen in love with Jess ;)

Lightning Round: Favorite song right now?

The xx – Basic Space

Data Sufficiency or Sentence Correction?

Sentence Correction

Bill Gates or Steve Jobs?

Bill Gates / his foundation

Harry Potter or Twilight?

Harry Potter