Friday, August 17, 2018

Top 10 Business Schools with Lowest Acceptance Rates

These 10 Business Schools Are the Hardest to Get Into, Says U.S. News

To qualify getting into an elite business school as “difficult” is kind of like saying LeBron James is “pretty good” at basketball. Business schools are inundated by literally thousands of applications for the few hundred slots set aside for each incoming classand the ratio of slots-to-applicants grows smaller and smaller among the 10 most selective business schools.
According to the U.S. News Short List, the average acceptance rate for all ranked business schools was 47 percent compared to 14 percent for the 10 business schools with the lowest acceptance rates, more than half of which are ranked among 2019’s top 10 best business schools:
To explore the rest of the top 10 most selective schools, check out the full U.S. News article.

Yale SOM Welcomes Incoming MBA Class of 2020

Yale SOM Orientation
The Yale SOM MBA Class of 2020 gathered for the first time on campus this week to kick off orientation, where more than 340 students had the opportunity to mingle and hear from several of the school’s deans.
Deputy Dean Anjani Jain welcomed students and discussed what being admitted to Yale SOM means.
Deputy Dean Eideal Pinker encouraged the new MBA students to “focus on opportunities to learn about how markets, organizations, and the people working in them function.”
Deputy Dean David Bach advised the Class of 2020 to take advantage of the Yale community both during and after their degrees.
Next week, the MBA students will meet Dean Edward A. Snyder and connect with incoming students from other master’s programs, including the Master of Advanced Management program.
To learn more about orientation, visit the Yale SOM news website.

Student Giving Breaks Multiple Records at UNC Kenan-Flagler

The fiscal year of 2018 was a record for UNC Kenan-Flagler in terms of student and donor gifts, which are set to make a “tremendous and lasting difference at the business school.” Overall, there were more than $48.7 million in cash donations and commitments that will support UNC Kenan-Flagler’s areas of greatest need, including seven new MBA fellowships.
Here is a quick breakdown:
  • 7,304 faculty, staff, students, alumni, and friends gave to the school in 2018—503 more than the previous record.
  • The school raised $4.1 million in unrestricted annual gifts.
  • 15 new scholarships and fellowships were created.
  • In just 24 hours, the school raised $532,237 from 1,372 donors for the greatest giving day in school history.
To learn more, visit the UNC Kenan-Flagler blog.

BlackRock Sustainable Team Founder Joins Tuck Center for Business, Government, and Society

John McKinley
John McKinley, a founding member of BlackRock’s sustainable investment team, has joined the Dartmouth Tuck School of Business as the new executive director of the Center for Business, Government, and Society.
In his new role, McKinley is responsible for envisioning, planning, and leading all of the center’s initiatives, programs, and activities. He will also serve as a vital school leader and contributor to Tuck’s mission to educate tomorrow’s movers and shakers.
Over the course of McKinley’s career, he has navigated the complex realms of business, policy, and civil society. At BlackRock, he built the company’s European sustainable investing business from London headquarters. Before BlackRock, McKinley oversaw the Global Fellows Program at Acumen and managed rule-of-law development programs in Africa and the Middle East at the U.S. Department of Justice.
To learn more about what McKinley brings to Dartmouth Tuck, head to the Tuck news website.

CMU Tepper MBA Program Welcomes Non-Quants

Kate Barraclough is head of the MBA program at Carnegie Mellon University in Pittsburgh.
Photo courtesy of Darrell Sapp/Post-Gazette
While the CMU Tepper MBA program has a “quant-heavy” reputation, the school is reportedly happy to accept non-traditional students who need a little extra quantitative help.
In fact, the MBA program intentionally seeks students with undergraduate degrees in the humanities. According to Kate Barraclough, who heads the Tepper MBA program, the school seeks a variety of students because “that leads to richer classroom discussions [and] having a diversity of opinion or background leads to different business outcomes, different views coming to the table.”
As part of this effort to recruit more non-traditional students, CMU Tepper accepts both the GMAT and the GRE for admissions, which has increased applications from students with humanities backgrounds for the full-time MBA program by 37 percent since 2016. Twenty-four percent of the Class of 2019 is drawn from “other” backgrounds including consumer products, entertainment and media, nonprofits, and social impact jobs. Students from humanities backgrounds make up roughly 9 percent of the Tepper MBA class. Once they’re in, Tepper offers a four-week online math course to adequately prepare more non-traditional business school students for the road ahead. (Pittsburgh Post-Gazette)

ジョンソン・スクール Class Of 2020 Stats

Cornell Johnson College of Business Class of 2020. Jon Reis Photography
This week, Cornell University’s SC Johnson College of Business released the profile for its incoming Class of 2020. The data show the school has held steady in nearly all areas, with the exception of two key demographics: women, which are up, and international students, which are down.
As 280 first-year MBAs arrived for the first day of school on Cornell’s Ithaca, New York campus, the class contained 6% more women than the previous year — up to 33% from 27%, an achievement the school attributes to a laundry list of initiatives, including increased scholarships for women who enroll, better conversions among those who participate in the annual Johnson Women in Business event, and an all-around rally by the Johnson community to strengthen and improve the experience of women at the school.
Meanwhile, the fresh crop of Johnson MBAs came up 7% short of last year on the international students front. Essentially, the two figures have flip-flopped: In 2017, 27% of the incoming class were women, 34% international students, but this year 33% are women and just 27% are international.
Cornell’s full-time program is currently ranked 14th among top MBA programs in the U.S. by Poets&Quants. This is the lowest number of incoming international students for the program in the last few cycles. Last year’s 34% was a point higher than 2016’s 33%. 
“The year-over-year change in our international student enrollment looks more pronounced than it is,” Judi Byersexecutive director of admissions & financial aid, tells P&Q. “While we saw a slight decline in the overall number of international submissions made during the 2017-18 season, we offered admission to several more international candidates and were consciously selective to enroll the candidates for which the school is in the best position to support with regard to their career goals and objectives.”
Byers alludes to the strenuous climate facing many internationals, saying, “The challenges impacting international students right now are not unique nor specific to any one program in the U.S.; our approach with regard to international student enrollment is to maintain the global diversity that our community values while also maintaining a high level of support throughout the entirety of the MBA experience.”
The executive director reports that there were a handful of international students who were set to join the latest incoming class, but were granted deferrals to due to visa complications or delays. “In these instances, I want to ensure that the candidates we’ve selected to join our program and community are given the full support they need to successfully enroll,” Byers says.
Whether a decline in international student enrollment is the continuation of a trend among top full-time MBA programs remains to be seen, as we await the release of more Class of 2020 profiles. Nevertheless, falling below 30% in international students appears to be a deviation compared to such peer schools as Columbia Business School, Yale School of Management, Duke University’s Fuqua School of Business, and New York University’s Stern School of Business, the latter of which is the only school to have released 2018 incoming class stats thus far.
This fall, Stern increased international students from 37% to 39%. In 2016, the incoming class had 31% international students. Women in the class, however, dropped from 38% last year to 35% this year — a stat that’s divergent in its own right compared to top other B-schools that are currently increasing the number of women in their full-time MBA programs.
While Class of 2020 intakes haven’t yet been released by Columbia and Duke, a glance at where they stood a year ago shows that 30% international students or higher seems to be a norm for this peer group. Columbia’s 2017 entering class of full-time MBAs consisted of 43% international citizens and 41% women. In 2016, 48% were international students, 38% were women. In the case of Duke, last year’s incoming class was 39% international students, down just 1 percentage point from 2016. Yale maintained 45% international students in its 2017 incoming class.
Outside of women and international students, a few other year-over-year changes can be seen within Johnson’s full-time MBA Class of 2020. Total number of countries represented rose from 38 to 40, and underrepresented minorities went from 12% to 15%. On a downward trend: military vets, who decreased 4%, from 11% to 7%.
In most other areas, Cornell’s incoming class remained relatively unchanged: Average years of work experience (five) and average age (28) are identical to the last two years; average GMAT score fell by one point, from 700 to 699; and average undergraduate GPA rose to 3.4 from 3.36 the year before.
Byers says the Johnson School received 1,600 applications during the 2017-18 admissions season — 53 fewer than the year before.
“Our acceptance rate for this year was 33%, up from 30% the year prior, and reflective of our decision to emphasize class composition as a school priority, value, and enrollment objective,” she says. “The overall professional experience and academic profile of candidates who enrolled this year remained strong and our community is more diverse — with more women and students from underrepresented backgrounds (including LGBTQ) — now to

Rochester Simon Becomes First B-School With STEM-Certified MBA

Andrew Ainslie, Dean of the University of Rochester’s Simon School
The University of Rochester’s Simon School of Business will become the first U.S. business school to gain full STEM designation for its full-time MBA program.
With international applications down at most U.S. business schools due to the increased uncertainty in obtaining H1b visas and the anti-immigration rhetoric in the U.S., the change puts Simon in a stronger position to attract the best candidates from outside the U.S. That’s because students receive an additional 24 months optional practical training (OPT), which helps to bridge the gap between a student visa and a work visa.
The federal government created the STEM (Science, Technology, Engineering & Math) designation program to help employers deal with the shortage of qualified workers in those fields. STEM designated educational programs make it possible for international graduates, who can now hold U.S. jobs for only 12 months, to remain stateside for an additional 24 months after graduation and receive training through work experience.
Last year, Duke University’s Fuqua School of Business added to its full-time MBA program a certificate in management science and technology management that allows students to be STEM-certified (see Fuqua Hikes MBA Appeal To Internationals). Two years ago, the University of Wisconsin School of Business gained STEM certification for two specializations–supply chain management and operations and technology management–in its MBA program. And many more schools, including Rochester, boast specialty master’s programs in quant heavy business disciplines that also are STEM certified.
But Rochester Simon is the first and only business school in the country to offer a STEM MBA optionregardless of a student’s specialization. “We didn’t want to separate groups of people and create sub-sections of the MBA,” explains Simon Dean Andrew Ainslie. “So we put together a STEM program where any student can do any specialization whatever and be STEM certified at the end of the program.” Simon offers MBA students ten specializations, from brand management and product management to strategy and technology.
The school leveraged its quant-heavy curriculum with a strong focus on analytics and economics to gain STEM designation. The change is being rolled out and available to incoming first- and second-year students. Simon was in a unique position to take advantage of the opportunity. From the business school’s earliest days, Simon adopted an academic approach that has leaned heavily on economics and the application of empirical research in every business discipline. Under William H. Meckling, who served as the school’s second dean from 1964 to 1983, the business school recruited young faculty who used an economics-lens to examine business challenges. Meckling’s work with Michael Jensen, who would later leave to join the faculty at Harvard Business School, resulted in pioneering work on agency theory, a framework to explain relationships and self-interest in organizations.
“It’s because in 1968 then Dean Bill Meckling fired the OB (organizational behavior) faculty,” notes Ainslie, who left UCLA’s Anderson School in 2014 to became dean. “Since then, the key thing is our core classes are so quant that it gave us a huge percentage of STEM classes before you start the electives. We are so quant that actually I am kicking myself for not doing this four years earlier. It works very well for the way we are differentiated.”
Simon witnessed the positive impact of STEM designation in its portfolio of four specialty master’s programs. Simon gained for its MS in marketing analytics and MS in business analytics in September of 2016. The school added STEM designation to its MS in finance in December of 2016 and to its MS in accountancy in July of this year. Applications surged by 41.4% for all four programs to 4,104 in 2017-2018 from 2,903 in 2013-2014.
“Much to our surprise, our U.S. applicant pool went up as well,” says Ainslie. The MS in business analytics program has been like watching a rocket take off. We went from 50 to 60 applications when we introduced the program to over 1,100 this past year. I am sure the growth results from a combination of reasons so I can’t be sure how much of it you can attribute to it being a STEM-certified program.”
In the 2017-2018 admissions cycle, the school received 905 applications for its small full-time MBA program, with 208 from domestic candidates. That’s up from 660 in 2013-2014, with 152 domestic applicants. The school, which now has a total full-time MBA enrollment of 1o5 students, said that most of the growth in MBA applications came between 2014 to 2015 (+13%) and 2015 to 2016 (+23) after Simon cut the cost of its MBA program (see Rochester Slashes MBA Tuition By 13.6%). Domestic applicants rose by 39% after the tuition reduction in 2016.
Ainslie expects to get additional gains in application volume as a result of having STEM designation for the full-time MBA experience. “We’ve held our own in every year and in a couple of years we’ve way up. The price drop two years ago was hugely successful, with applications up 40% up over two years. So we are more than holding our own, and this is definitely going to hop up the number of foreign applicants.
“For the MBA program, it is a great signal to the marketplace that we are giving students these analytical skills that are so valued in the workplace. In consulting, we tend to be on the more analytic side. We put a lot of people into pricing as a specific consulting area. So this is a signal to recruiters about the quantitative and analytical nature of our programs.”
While the chance is in sync with the greater emphasis placed on analytical skills by MBA recruiters, however, the most consequential impact of the change will be on international students who want to stay and work in the U.S. “Getting 36 months on an OPT work visa is trivial compared to the exercise you have to go through for an H1b visa,” says Ainslie. “A company doesn’t have the massive expensive of a lawyer and paperwork. Every recruiter is used to this and knows how to do the paperwork on their side.
“With 36 months on a work visa for a STEM-certified job, it gives a student three attempts to get an H1b visa instead of one,” adds Ainslie. “Secondly, in those three years you might be able to get to other optios, including straight to a green card. It is an extended period during which an employer can decide whether they like the employee and vice versa. Right now, for any foreign student, it’s been something of a scary moment. Quite a few companies have pulled back from offering foreign students jobs. This will open a lot more doors for our students.”
The rules require that at least 50% of the class work in a course are in STEM topics. For Simon, that has meant retooling several courses, largely electives, to insure they meet the standards for STEM designation. Managerial Accounting and Performance Measurement (ACC 410), a popular elective that had largely been taught via case study, was modified so that it would have a significant data analytics component with MS Excel and Stata being the primary data analysis tools used. Simon also introduced new courses, such as Quantitative Finance with Python (Finance 418), an offering that equips students with the tools necessary to build and use quantitative models for financial decision making.
The reengineering of Simon’s courses, moreover, has occurred as the school has gone through a curriculum revamp. Among the changes, electives have now been introduced earlier into the first-year curriculum so MBA students have expanded opportunities for electives before the start of their summer internships. The school also increased its leadership and professional development content to meet recruiters’ needs and market demand.
“When the STEM option showed up a year ago, we started going through class by class with the faculty,” says Ainslie. “So there has definitely been some change at the course level, partially driven by a completely new curriculum and the STEM certification.”
Next year, Simon will move from a quarter system to a more traditional full semester system. “About 80% of the top 50 business schools are on semesters because so many major recruiters
have a semester-oriented recruitment period for interns and full-time employees. Moving to semesters allows us to be in sync with the market.

“Everything has been oriented around what the recruiters need. Recruiters have been saying to us that it is very hard to find talent in the U.S. and very hard to employ foreign students because of the uncertainly around the H1b visa. This is a big win for both of us.”

マーシャル・スクール・オブ・ビジネス enrolling more women than men

By Oliver Staley, July 28, 2018
While a number of professional degrees programs in the United States are at gender parity—there are more women than men enrolling in law school, for example, and more women than men earning graduate degrees overall—business schools have traditionally struggled to recruit women in equal numbers. So it’s notable that the University of Southern California will enroll more women than men into its MBA program this fall, making it the first top-tier business school to reach that milestone.

USC’s Marshall School of Business announced that 52% of the students in the incoming class of 2020 are women, an enormous jump from the 32% share of spots that went to women last year, according to Poets & Quants, a website that reports on business schools.

USC may soon be followed by other schools. The MBA classes enrolled at Dartmouth and the University of Pennsylvania were 44% women, and all of the top 10 programs ranked by Poets & Quants were at least 40% female. But according to the AACSB, a business school accrediting body, the share of women to receive full-time MBA degrees from US schools overall stayed below 38% from 2012 through 2017.

Sally Blount, dean of the Kellogg School of Management at Northwestern, says the problem starts when women are undergraduates, when they decline to pursue careers in business perhaps because they may have negative perceptions about the business world or don’t have the degrees in math or science they believe are necessary.

That may be changing, as investment banks and consulting firms are working harder to recruit and hire women out of college, although they’re still failing to promote them into senior roles. In theory, at least, with more women entering business school, more will eventually rise to the top ranks.

The announcement is a rare bit of recent good news for women at USC, where a campus gynecologist is accused of sexually assaulting at least 200 former patients. USC president Max Nikias resigned under fire after it was revealed the university didn’t report the doctor to the state or notify his patients. The sordid case is another reminder why women are needed in the leadership ranks of every institution.

Friday, August 10, 2018

イエセ Essay Questions 2018-2019

IESE Essay Questions

2018-2019 IESE Essay Questions

Essay 1
How do you expect to be changed by your experience at IESE and what impact you would like to make after your MBA? (word limit 300 max)
Essay 2
What are your short and medium term post MBA career goals and how will IESE help you achieve them? (word limit 300 max)
Optional Essay

サイード・ビジネス・スクール MBA Deadlines 2018-2019

Oxford Saïd MBA Essay Topic Analysis 2017-2018
The Saïd admissions committee has released the Oxford MBA deadlines for 2018-2019 for candidates targeting the Saïd School of Business this fall.

2018-2019 Oxford Saïd MBA Deadlines

Stage 1:
Application deadline: September 7, 2018
Interview decision: September 21, 2018
Final decision: October 19, 2018
Stage 2: 
Application deadline: November 2, 2018
Interview decision: November 16, 2018
Final decision: December 14, 2018
Stage 3: 
Application deadline: January 11, 2019
Interview decision: February 1, 2019
Final decision: March 22, 2019
Stage 4:
Application deadline: April 5, 2019
Interview decision: April 26, 2019
Final decision: June 7, 2019

Thursday, August 9, 2018

Average GMAT Scores At The Top 50 Business Schools

What goes up, must come down? Not when you’re talking about scores on the General Management Admission Test. But while the five-year trend consistently shows GMAT averages on the rise at the vast majority of business schools, a closer look at the latest data for the Class of 2019 suggests a more nuanced reality. Among other things, there has been a leveling off, at least in the short term, among the most elite schools, as the top three schools in the Poets&Quants top 50 all are reporting the same GMAT average from the year before.
Mostly, though, the numbers keep going up. Only seven schools in the top 50 have seen a drop-off over the last five years, while two have remained flat and data for two others data is incomplete. For one school, Boston College, only the last two years are available (though those years have revealed remarkable volatility for the Carroll School of Management, which lost 30 points from 2016 to 2017, to fall to 637). For three other schools, the current year’s data is missing, leaving only the previous four years to measure by (two show a positive trend, and the other, Temple University’s Fox School of Business, has never posted GMAT averages). Still, the data shows that 38 schools are on an upswing in the five-year trend of average GMAT scores, at an average of 9.9 points, led by Rice University’s Jones Graduate School of Business, which grew its GMATs by 35 points to 711.
The five-year metric is only one way to look at GMAT scores. Eleven schools (only three of which are in the top 25) saw a year-to-year drop-off from 2016 to 2017, mostly small declines of a point or two. Eight schools saw no change at all — including the top three schools, the Wharton School at the University of Pennsylvania (730), Harvard Business School (729), and Stanford Graduate School of Business (737). Minus the three schools that haven’t reported average GMATs for the Class of 2019, and the one school we don’t have data for from other years (Rutgers), that leaves 27 schools that saw an uptick since 2016, at an average of 5.2 points — a much more mixed picture.
More than any other admissions data point, GMATs are often considered a barometer of student quality. Rising GMATs can also indicate a school’s aggressiveness in offering more scholarship money to compete with rivals and represent a sign that a school is eager to move up in rankings.
In last year’s version of this report, 12 schools had declining GMATs over a five-year period; now only six do. So why do GMAT averages continue to rise? A few reasons. First, it’s about rankings: As schools compete with each other for the top rungs and the top talent drawn by such distinctions, they look to showcase their selectivity and academic prowess by striving for higher scores. This also has the effect of driving up applications — everyone wants to be a member of a club that may not have them — and adcoms get to choose from among a huge crowd of applicants who felt compelled to maximize their scores.
Then there’s the rise of the Graduate Record Examination, which more schools are accepting in place of the GMAT. Applicants with more limited skills — and confidence — are increasingly taking the GRE, reducing the number of low GMAT scores in the applicant pool. The percentage of GRE applicants is rising into the low-20s at some major schools; last year, Boston University even reported that an incredible 42% of MBA candidates had submitted GRE scores, up from 34% the year before.
Other notable schools with high percentages of GRE applicants (according to the latest available data): Texas A&M University’s Mays Business School (39%, up from 15% in 2015), the University of Illinois at Urbana-Champaign College of Business (36%), Southern Methodist University’s Cox School of Business (35%, up from 12% in 2015), Washington University’s Olin Business School (34%), and the University of Georgia’s Terry School of Business (31%).
Declining GMATs are considered an indication of an MBA program no longer attracting the top candidates. There are many possible explanations, such as a lack of scholarship opportunities or a redirection of resources into other areas, for example into specialized master’s programs. It’s also true that sometimes top talent is poached from a lower-tiered school by a higher-tiered one. On the other hand, schools have been known to intentionally reduce average GMAT scores with the idea of pursuing more well-rounded applicants, those with stronger interpersonal and communication skills.
That’s the case at the University of Rochester Simon Business School, where Dean Andrew Ainslie has sought to emphasize other aspects of students’ potential and chose consciously move its GMAT average down a little in order to allow it to pick more well-rounded candidates, who might do better in the workplace a couple of years later.
Just as at Rochester Simon, where a bottoming out seems to have occurred with the numbers starting to rebound, the University of Minnesota’s Carlson School of Management — one of the other seven schools in a five-year decline — may have seen the worst. Carlson saw a 17-point decline to 675 last year from 692 in 2012, but arrested its fall and saw a one-point bump to 676 in the Class of 2019.
The “leveling off” of GMATs may be happening overseas, as well. While INSEAD realized its spot atop the European B-school landscape, gaining four points to reach 712, both London Business School (708) and HEC Paris (688) lost a point from the year before. Last year, every prominent European school reported a year-over-year increase in its average, with LBS overtaking INSEAD with an eight-point jump.
Elsewhere in Europe, IESE remained flat at 690 a year after gaining 21 points. Oxford saw a three-point boost to 685, and Cambridge got a six-point lift to 696, but Spain’s IE saw a dramatic drop of 10 points to 670 — just a year removed from reporting an eight-point jump.