Thursday, June 22, 2017

Top MBA Schools breaking the $200K Total Cost Barrier

  • Stanford University is the costliest of all U.S. elite MBA programs at more than $225,000. 
  • The average percentage increase at those top 15 schools between 2016 and 2017: just under 7%. 
  • The median price tag of the degree at a Top 25 school is $185,747, up big from about $171,000 last year, which itself was an increase from about $168,000 the year before.

Schools with a total program cost of over $200,000
  1. New York University’s Stern School of Business, 
  2. University of Pennsylvania’s Wharton School,
  3. Columbia Business School.
  4. Dartmouth College’s Tuck School of Business
  5. University of Chicago Booth School of Business
  6. MIT’s Sloan School of Management
  7. Northwestern University’s Kellogg School of Management. 
Schools with a total program cost of over $180,000 
  1. UCLA’s Anderson School of Management
  2. Yale University’s School of Management
  3. Duke University’s Fuqua School of Business
  4. University of California-Berkeley’s Haas School of Business
  5. University of Virginia’s Darden School of Business. 

At Stanford, the average yearly scholarship grant is about $35,000. At Harvard Business School, scholarship support to MBA students hit an unprecedented $34 million in 2016, up from $32 million a year earlier. In 2016, UC-Berkeley spread $5.8 million in scholarship money to its relatively small class of about 250 MBAs.

Income boost
According to new figures from the Graduate Management Admission Council, projected median base starting salary for recent MBA grads in the U.S. is $110,000, up from $105,000 in 2016 and an incredible 83% premium over recent bachelor’s-degree holders who can expect to receive a median starting salary of $60,000 in 2017.

Stanford GSB boasts about the $140,553 average salary and the $136,000 median for the Class of 2016; UCLA’s Anderson School of Management, the costliest public-school MBA program in the U.S., promises a 137% increase in salary six to eight years after graduation.

Rising Costs
- UCLA’s Anderson School cost rose 13.6% from $170,982 last year to $194,220
- Wharton up 9% to $218,900
- Duke Fuqua up 9.6% to $184,476
- Harvard up 8.5% to $213,600
- UC-Berkeley Haas up 7.6% increase to $183,342.

Tuesday, June 20, 2017

ハーバード・ビジネス・スクール New MBA/MS in Engineering

Harvard University has announced the launch of a new joint master’s degree (MS/MBA) program between Harvard Business School (HBS) and the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS).

The two-year, full-time, HBS joint MS/MBA degree for tech leaders will include additional coursework during each January term but give students freedom during the summer to pursue an internship or startup venture, just as the traditional MBA does. It will welcome its first cohort of approximately 30 students in August 2018 and will confer two degrees to graduates, a Master of Science in engineering sciences and an MBA. 

The new program is designed to bridge the divide between engineering and business for aspiring leaders in the tech sector who want to drive and manage innovation throughout their organizations.

The program was created by HBS Professor of Business Administration Tom Eisenmann, faculty co-chair of the HBS Rock Center for Entrepreneurship and faculty chair of both the HBS California Research Center and the recently launched HBS Startup Studio in New York, and SEAS Professor of Engineering Rob Howe, who directs the Harvard Biorobotics Lab and cofounded RightHand Robotics. Together they will serve as faculty co-chairs of the new MS/MBA program.

SEAS, located across the river from HBS, will also be moving the majority of its faculty, students, and classes to a new facility adjacent to HBS in the coming years.

The curriculum
Students in the new MS/MBA program will begin as a cohort at SEAS in August, completing a two-week intensive System Engineering Course. 
  • The majority of the rest of the first year will be spent at HBS completing the MBA Required Curriculum (RC).
  •  MS/MBA students will continue to meet periodically as a cohort at SEAS during the first year in an Engineering, Design & Innovation Management Seminar and will also complete a Technology Venture Immersion course together during the January term.
  • During their second year, MS/MBA students will split their time between electives at each SEAS and HBS. They will also come together as a cohort for an Integrated Design course during the fall term and complete a Capstone course during the January and spring terms, working in small teams to build and launch a new product.
  • There will not be any summer coursework, giving students the freedom to pursue a summer internship at an established tech firm or startup or work on their own venture.
Who Should Apply?
One of the goals we have with this program is attracting students who may not be interested in either a standalone MBA or MS in engineering sciences. 
To gain admission to the joint MS/MBA program, students must:
  • Hold an engineering, computer science, or related undergraduate degree, with a record of outstanding academic achievement
  • Have at least two years of full-time work experience, ideally in designing and/or developing technology-intensive products;
  • Meet the criteria for admission to both the HBS MBA program and the SEAS MS program.

Admissions Process
1] Those interested in this new program must submit all application elements required by both schools, but the entire process will be hosted within the system HBS currently uses to make it as easy as possible to complete. 
2] Applicants will only have to log into one account, submit all of the application requirements for the MBA program—transcripts, essay, work history, test scores—and then open up a connected page where they can submit all of the SEAS required components.
3] Applicants to the joint-degree program will be required to submit an additional essay focused on their tech expertise and experience. 
4] Applicants who advance to the interview round will at that point also be asked to supply an additional letter of recommendation focused on their tech credentials, he adds.

The initial application review process will be the same as it is for all applicants to the MBA program, with a subset invited to interview.

There will be three potential outcomes
1] Admission by SEAS and HBS as part of the joint program
2] Admission into the MBA program but not the joint degree program, 
3] Rejection

There will be two application rounds for the inaugural MS/MBA cohort slated to start in August 2018. 
  • The Round 1 deadline is September 6, 2017
  • Round 2 deadline is January 3, 2018. 
  • College seniors can also apply for “2+2” deferred admission to the MS/MBA program. The deadline for those applicants is April 10, 2018. 

Harvard’s new joint MS/MBA program becomes the sixth joint-degree program offered between HBS and Harvard’s other leading schools. Other programs are
a) Joint-degree programs with the Harvard Kennedy School—an MBA/MPP (Master of Public Policy) program 
b) an MBA/MPA-ID (Master of Public Administration-International Development)
c) a JD/MBA with Harvard Law School, 
d) a MD/MBA with Harvard Medical School
e) a DMD/MBA with Harvard School of Dental Medicine.

Similar programs:
- NYU Stern School of Business announced this spring a new one-year accelerated Tech MBA program
- Cornell’s Johnson Graduate School of Management offers a one-year Tech MBA program on its Cornell Tech campus in New York City. 
- Stanford Graduate School of Business features two related, three-year dual-degree programs, one combining an M.S. in computer science with the MBA, and a second combining an M.S. in electrical engineering with the MBA. 
- MIT offers a System Design Management (SDM) program jointly offered by its School of Engineering and Sloan School of Management.

For more information see either HBS or SEAS websites. 

New GMAT Test Details: the "Select Section Order"

New GMAT Feature Offers Test-Taking Personalization

There will be significant changes for the Graduate Management Admissions Test (GMAT), from July 11, 2017.

Until now the GMAT had a set order: 
1] Analytical Writing Assessment
2] Integrated Reasoning
3] Quantitative, and 
4] Verbal section. 

The amendment made by the Graduate Management Admissions Council (GMAC) offers considerably greater flexibility, giving test-takers some choice in the order in which they complete these tasks.
The new GMAT feature, officially titled the Select Section Order, was implemented based on research from GMAC.
Along with the aforementioned traditional GMAT order, those taking the exam have the option to complete it in the following additional orders:
Verbal, Quantitative, Integrated Reasoning, Analytical Writing Assessment
Quantitative, Verbal, Integrated Reasoning, Analytical Writing Assessment
GMAC also laid out what the test could look like on its website, with the included optional eight minute breaks:

GMAC will also refresh its test materials and website, which also includes a major change to profile pages that not only reduces the amount of time it takes to complete the exam, but gives test-takers a chance to know their scores immediately after completion.

The modifications to the exam may be a direct result of increased competition from the Graduate Record Examination (GRE). In recent years, more and more business schools have begun accepting GRE scores in lieu of the GMAT, with 92 percent of MBA programs now accepting GRE.

Practice examinations available from GMAC will not be available until the end of July. However, those who do purchase a full-length exam from in the meantime “will be eligible for a complimentary upgrade of GMAT Prep or Exam Pack,” according to GMAC.

For more information please see GMAC. 

Friday, June 16, 2017

2017-2018 MBA Application Deadlines

The main changes so far:

  • The University of Pennsylvania’s Wharton School has moved its round one deadline ahead by eight full days to Sept. 19th of 2017, versus last year’s Sept. 27th date. That puts Wharton more in sync with other school deadlines, including Stanford which has a round one cutoff date that is exactly the same. 
  • Wharton won’t post its essay questions for the Class of 2020 until early summer, and Stanford has already made clear it intends to keep its iconic “What Matters Most” essay in the mix.
  • Columbia Business School, which maintains its early decision deadline and rolling admissions approach without specific release dates, has switched out several essay questions. 
  • NYU Stern has added an emotional intelligence endorsement requirement that allows a colleague at work or a friend to convey a compelling story that demonstrates a candidate’s EQ.
  • Michigan Ross has introduced a new essay format with a short answer section containing three groups of prompts that requires applicants to select one prompt from each group and respond to it in 100 words or less. 
  • At Dartmouth Tuck, for example, the early action round is Oct. 3, with decisions revealed on Dec. 15th. The school also expects applicants to initiate an interview with the school no later than Oct. 31.
  • Notre Dame’s Mendoza School also has an early round deadline for applicants who are strongly committed to the school’s MBA. 
  • Both Wharton and MIT Sloan, for example, don’t expect to issue their new essays until early-to-mid July.

Round 1 Deadlines

Round 2 deadlines

Round 3 and 4 Deadlines

Basic Advice: It's best to apply in the first round when none of the seats in the class are filled. At most schools, early applicants have an advantage over those that complete their applications in later rounds. There are some other reasons why you want to get your app in early:
The ability to receive a scholarship award from the school’s Financial Aid Office prior to the date by which you must respond to your offer of admission.
Ample time to complete recommended quantitative and/or language coursework prior to arrival on campus.
Access to on-campus housing lottery systems at some schools.
Sufficient time to complete the visa application process for international candidates.
Attendance at a school’s Admit Weekends. Sometimes, round three candidates lose out on 

Monday, June 12, 2017

レナード・N・スターン・スクール・オブ・ビジネス Big Change in Application: Pick Six

NYU Stern's 2017-2018 MBA application has undergone big changes and it will now offer two new one-year MBA programs, focused on fashion & luxury and technology respectively. 

1. Applicants can now opt to be considered for multiple Stern programs—the full-time, part-time, or new specialized one-year MBA programs—simultaneously using a single application. 
2. The school has stopped its long-standing “creative” essay—which gave applicants near total free reign to submit whatever they felt best communicated who they are as a person. 
3. “Pick Six” has been introduced in its place—an Instagram-esque opportunity for applicants to use images and captions to tell their stories. 
4. Finally, reflecting the importance Stern places not only on candidates’ IQ but also their EQ—or emotional quotient—the transformed application now solicits an “EQ Endorsement” in additional to more traditional letters of recommendations.

  • The November deadline for the full-time MBA program has been eliminated, leaving only three deadlines: October 15th, January 15th, and March 15th. 
  • The other programs—fashion & luxury MBA, tech MBA, and part-time MBA (for spring term)—will each feature two deadlines, September 15th and November 15th.

Candidates who do opt to apply to more than one program will be required to select a primary program—full-time MBA, part-time MBA, tech MBA, or fashion & luxury MBA—and then provide an additional essay explaining their program preferences—i.e. why their first choice program is their first choice but how more than one option could ultimately align with their career goals. Applicants should submit their applications by the deadline for the primary program they are targeting, and there will be no additional fee for applying to more than one program.

Stern’s famous “creative” essay has been a hallmark of the school for more than 15 years, inviting applicants to use just about any means they could think of to express who they are as a person to the admissions committee.

With Pick Six, Stern hopes to provide a little more guidance to applicants and create more consistency in the evaluation process while still offering plenty of freedom of expression. Through Pick Six, candidates get to submit six images—whether pictures, charts, infographics, or artwork—accompanied by six short captions.

EQ Endorsement
Stern’s has long placed a premium on candidates who possess both intellectual and emotional intelligence—what it terms “IQ + EQ.” Applicants will now be required to provide a testimonial illustrating a specific example of demonstrated EQ from someone who knows them well.
While traditional professional recommendations still will be required, the EQ endorsement won’t be restricted to supervisors, as traditionally is the case with letters of recommendation. Instead, they can come from a team member, colleague, or peer—whomever can best attest to the candidate’s emotional intelligence.
  •  EQ endorsers with receive a definition of what IQ + EQ means at Stern and be asked to provide one specific compelling example that demonstrates the candidate’s EQ. U

As before, all applicants will be required to submit a data form, resume/CV, work history form, two professional recommendations, academic transcript, standardized test scores, and essays on each career goals and program fit. 

For more information see the Stern Admissions site. 

アンダーソン・スクール・オブ・マネジメントUCLA Anderson MBA Essay Questions and deadlines 2017-2018

 UCLA Anderson has posted their 2017-2018 MBA essay topic. Anderson only requires one essay (750 words), which remains unchanged from the prior years. An optional essay and re-applicant essay are also available.

First-Time Applicants (Required Essay):
We believe that the best results are achieved when you share success, think fearlessly and drive change. 
1. With this in mind, what are your goals at UCLA Anderson and in your short-term and long-term career? (750 words maximum)
Optional Essay:
The following essay is optional. No preference is given in the evaluation process to applicants who submit an optional essay. Please note that we only accept written essays.
2. Are there any extenuating circumstances in your profile about which the Admissions Committee should be aware? Please use your best judgment. (250 words maximum)
Re-Applicant Essay:
Reapplicants who applied for the MBA program starting in 2016 or 2017 are required to complete the following essay:
1. Please describe your career progress since you last applied and ways in which you have enhanced your candidacy. Include updates on short-term and long-term career goals, as well as your continued interest in UCLA Anderson. (750 words maximum)
Please note:
Your essays are the primary way for you to share your perspectives and plans with the admissions committee. The best essays are introspective, genuine and succinct in directly answering our questions and responding to our topics.

2017-2018 UCLA Anderson Deadlines
Round 1
Deadline: Oct. 6, 2017
Decision Release Date: Dec. 15, 2017
Round 2
Deadline: Jan. 5, 2018
Decision Release Date: March 29, 2018
Round 3
Deadline: April 12, 2018
Decision Release Date: May 24, 2018

For more information, see the UCLA Anderson website. 

スタンフォード大学経営大学院(Stanford GSB MBA Essay Questions – 2017-2018)

Stanford Graduate School of Business (GSB) has revealed its essay questions for the coming admissions season. Applicants are required to respond to two essay questions and given 1,150-1,200 words in which to do so.

2017-2018 Stanford GSB Essay Questions
Essay A: What matters most to you, and why? (750 words)
For this essay, we would like you to:
Do some deep self-examination, so you can genuinely illustrate who you are and how you came to be the person you are.
Share the insights, experiences, and lessons that shaped your perspectives, rather than focusing merely on what you’ve done or accomplished.
Write from the heart, and illustrate how a person, situation, or event has influenced you.
Focus on the “why” rather than the “what.”

Essay B: Why Stanford? (400 words, or 450 words if applying to both the MBA and MSx programs)
Enlighten us on how earning your MBA at Stanford will enable you to realize your ambitions.
Explain your decision to pursue graduate education in management.
Explain the distinctive opportunities you will pursue at Stanford.
If you are applying to both the MBA and MSx programs, use Essay B to address your interest in both programs. 

The Stanford MBA deadlines for 2017-2018 are as follows:
Round 1
Application Deadline: September 19, 2017
Notification Date: December 14, 2017
Round 2
Application Deadline: January 10, 2018
Notification Date: March 29, 2018
Round 3
Application Deadline: April 4, 2018
Notification Date: Mid May 2018
For more information on applying, visit the Stanford GSB MBA Admissions website.