Microsoft's 2nd Annual MBA Panel: Soliciting Questions from You!

UPDATE (6/25/09): The Panel was a success! Hear the event here: http://www.mbapodcaster.com/MBA_MoreInfo/BizSchoolPanelMicrosoft.asp?iEpisode=74

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As we all know, the current economic climate is prompting thousands to consider going for their MBA and in turn propelling upward the number of applications to business schools. With the increased competition, how do you gear up to get an MBA in this climate? One contribution comes from a special business school panel presented by Microsoft. The focus is a current and compelling one -- the theme is "Standing Out Among the Outstanding: Recession, Competition, and Business School Admissions"

Guests on this year's panel include:

• Cassandra Pittman Assistant Director of Marketing at INSEAD and responsible for MBA recruitment in North and South America
• Scott Shrum Director of MBA Admissions Research at Veritas Prep
• Barbara Thomas, President and CEO National Black MBA Association, the world's leading organization for black professionals
• There will also be "experts in the audience" contributing to the dialogue: Bryan Tomlinson and Edward Gali, both representing the University of Washington, Michael G. Foster School of Business

MBA Podcaster will be attending the event and bringing your questions to the panelists. So we're asking you: if you're seeking your MBA -- or considering it -- what questions would you have for this panel? Send your questions to info@mbapodcaster.com

The Business School Panel will be held at the Redmond, WA headquarters of Microsoft on June 18th, 2009, hosted by Africans at Microsoft.

This is the second annual panel put on by Africans at Microsoft. Below is a link to our podcast on the event from last year. The show covers the entire MBA process from the applications to acceptance.

2008 Business School Panel: Pursuing an MBA -- Motives, Values, and Opportunities
http://www.mbapodcaster.com/MBA_MoreInfo/BizSchoolPanelMicrosoft.asp?iEpisode=74

We had representatives from Harvard Business School, MIT Sloan, University of Washington, and the GM of Microsoft's global recruiting team. Also participating were students from Harvard, Wharton, Darden, and Cornell Business Schools.

The energy generated by the audience and the panel made for a lively, informative discussion that covered and broke the bounds of the topic. We expect no less this time!

This is a valuable topic -- how to stand out among so many outstanding candidates!

Please let us know what questions you have for this event, and likely you'll hear them answered by these elite panelists on our next podcast.

Regional vs Big Name National MBA: The MBA Recruiters Weigh In

If you're considering an MBA school, should you shoot for the big names or stay regional? We're doing a show on that very question at MBA Podcaster. I've been talking to folks at regional schools, but also to consultants.
Recently, I talked with Caroline Ceniza-Levine and Connie Thanasoulis, Co-Founders of the recruiting firm SixFigureStart. It's a career coaching firm helping Gen Y students and young professionals launch their careers. They have opposing opinions.
Caroline maintains there are many reasons for regional schools -- mostly, that students resonate with the area and with the school's specialties, and that it's affordable.
Connie spent most of her career recruiting from higher ranked schools. She says these big-name schools position students with their very active career services departments. Big companies consider those schools a target for the positions they want to fill. Connie says when she ran campus recruiting for Merrill-Lynch, 75% came from the big-name schools, and the other 25% came from a blend of other schools, students who made their way. But they all earned $95K base. Nice.
Caroline says the thought that the school that you attend will dictate your future income is incorrect. Check out some of today's millionaires -- many are high school dropouts. She says if you know how to look for a job, you'll be able to penetrate the big companies.
Given the choice of a regional school or a big-name, Connie would choose a big school. She says the alumni base is huge, there is great access to professors with prestigious backgrounds, and the engine at the big school will serve you well your entire career. Caroline says you should make your decision on what is best for you. Survey the advantages -- she would choose a regional school, and that decision, for many students, could be based on financial, academic, environmental or geographic reasons.
Caroline says "Make your choice on what is best for you, own your choice and be empowered about moving your career forward." To which Connie says, "Well said, Caroline."

Rice vs the Big Name B-Schools

In an upcoming show for MBA Podcaster, we'll be comparing regional schools with the Big Name B-Schools. So today, I talked with Sean Ferguson, Associate Dean of Degree Programs at the Jones Graduate School of Management at Rice University. Elegant and eloquent guy.
Ferguson says Rice does well as a regional school at a top twenty national university. Its largest alumni base outside of Houston is New York, followed by DC/Maryland/Virginia, and then Dallas. He points out that Texas has the fifteenth-largest economy in the world.
Ferguson says for B-students who are deciding between regional schools or the big name B-schools, recognize whether you know what you want.
"If you want to do finance," Ferguson says he tells students,"I don't think there are ten better schools to do Finance than Rice. If you want to do Energy, there aren't two or three schools better than Rice to do Energy or Entrepreneurship."
Another thing to consider -- big name schools are less likely to pay the freight. Those regional schools might just give you a scholarship, and your ultimate ROI will come much faster.
Regarding regional schools, Ferguson says "You can't be all things to all people, because you don't have the scale." And he says a recruiter won't bring a whole team down for 120-people, but Dallas-based companies might.
Overall, if you choose carefully, he says "Many regional schools stack up just as well with the big boys."

2009 Top 100 'Most Desired' Employers Chosen by MBA Grads

Universum's annual rankings are out on the Top 100 Companies that MBA grads long to work for. Who's who this year? Well, Google takes #1 spot as usual (3rd year in a row) but there have been some interesting shifts this year.

First, the top 15:

1. Google
2. McKinsey & Company
3. Bain & Company
4. Goldman Sachs
5. Apple Computer
6. The Boston Consulting Group
7. Walt Disney
8. Nike
9. J.P. Morgan
10. Johnson & Johnson
11. The Blackstone Group
12. Microsoft
13. General Electric
14. Morgan Stanley
15. IDEO

Now, on to some analysis: Gone, of course, is investment bank Lehman Brothers (which collapsed last fall); Merrill Lynch (no longer an independent firm after being bought by Bank of America in September) plummeted to no. 55 from no. 18 last year. Some financial services firms, though, managed to stay in the top 15, including J.P. Morgan, Morgan Stanley and Goldman Sachs (now a bank holding company).

Big players like General Electric and Johnson & Johnson also were able to stay in the top 15 thanks to their strong brand and reputation, says Claudia Tattanelli, CEO of Universum North America.

But with consumer spending down, retail companies didn't fare as well this year as they have in the past. Caffeine-purveyor Starbucks, for example, slid to no. 27 from no. 17, while discounter Target dropped to no. 44 from 26.

Less concerned with a prospective employer's prestige, MBAs are broadening their horizons this year, Tattanelli says. Instead, they're more interested in finding innovative companies with positive work environments.

"MBAs have opened up to a whole new set of employers," she says.

One newcomer, Blackstone Group, is the first and only private equity firm to ever make the list. President and COO Tony James credits the firm's appeal to the access and exposure its 15 or 18 new hires a year receive.

"We try to offer an extraordinary professional experience," he said. Incoming associates are teamed with more senior executives on high-level projects and they "are equal in any discussion - that's exhilarating," James said.

Also making an impressive first showing was Palo Alto-based design firm, IDEO, at No. 15. The 500-person company is responsible for Crest's Neat Squeeze, Tivo's set top box and remote control and, most recently, Bank of America's "Keep the Change" program.

When IDEO held an on-campus recruiting event at Wharton this year, "the room was packed," Tattanelli said.

Data from more than 6,000 respondents at 58 top programs proves that MBAs are less willing to sacrifice challenging work, a competitive salary, and professional development for greater job security than undergraduates, who placed characteristics such as stability and security above all else.

How Pepperdine's MBA School Goes Up Against the Big Names

You've likely heard of Pepperdine, but maybe not its business school -- Graziadio. I wasn't sure how to pronounce it, and the Associate Dean of Full-Time MBA Programs tells me it's like Graz-ee-ah-De-o, which translates to thanks to God.
Dr Mark Mallinger says there's more one-on-one opportunity for students than you'll find at the big name schools, like Harvard. He says the faculty is committed to student development. The goal of the school is collaborative, rather than competitive. He says that atmosphere enhances the ability for students to creative a collaborative network.
Mallinger says the students who take initiative to demonstrate their leadership abilities, end up doing as well as students from reputational schools. For example, the two-year MBA students who he's identified as leaders who have recently graduated "and almost in every case, they already have had, they've got their jobs." He says they're working at AT&T, Bank of America, consulting firms and other companies that have worked with the students in internship positions.
Mallinger admits that having a campus in Malibu may slow some students from making contacts and taking those leadership roles. I asked him to compare what students get at Graziadio versus a big name MBA school -- and he says their students get an experience-driven education that develops ethical leaders who can create solutions for business challenges. The small class size, opportunity to develop skills while working in teams, and close faculty focus makes the school unique. You'll be able to hear the finished show in a few weeks on MBA Podcaster.

Schools are Making it Easier to get a JD/MBA

The Wall Street Journal came out with a great report today detailing how schools are trying to make it easier for students to get their JD/MBA degree in a shorter amount of time and with less red tape that is usually associated with dual degrees.

According to the report the JD/MBA is offered at around 42 schools across the country. Total enrollment in such programs fell from 330 to 287 students between the 2005-06 and 2007-08 school years, according to a recent survey by AACSB International, which accredits business management and accounting programs. The numbers are dropping as more and more students realize they want to start their careers sooner and start earning money to pay back the graduate school loans they've accumulated.

In response, a handful of schools are offering fast-tracked, condensed programs. Starting this fall, the University of Pennsylvania will offer a J.D./M.B.A. in seven semesters squeezed into three years (as opposed to the usual eight semesters over four years), including one summer semester between the first two years.

In Northwestern's shorter program, students complete the core requirements for both the law and business schools and then cherry-pick electives from either curriculum. This year, applications shot up 50% to 250, says Beth Flye, director of admissions for the university's Kellogg School of Management.

Yale will offer its coming three-year J.D./M.B.A. program without any required summer classes. The shorter joint degree aims to develop analytic and quantitative skills that are beyond what law schools traditionally offer, says Sharon Oster, dean of Yale's School of Management. The four-year degree will still be offered but will go deeper into certain subjects.

"Someone who's interested in a career in something specific, such as real-estate finance, would probably want to do a four-year," Ms. Oster says. "But for those who want something more general, the three-year is a great option."

Of course, there are advantages of a longer program. One is the added time for forming relationships with classmates and professors or spending time abroad. The multiple summers also allow students to "test-drive" multiple career paths. Some of the shorter programs require students to take summer courses, meaning less time for internships. And students in three-year programs often have such jam-packed schedules they aren't able to participate in law reviews or take as many elective courses.

Some schools are saying that the full four years are necessary to adequately prepare for a career in either law or business, let alone for a potential career combining both.

Larry Kramer, dean of Stanford University Law School, says the school thought about shortening its four-year program to three years, but decided against it. "We considered it because of the competition for students," says Mr. Kramer. "Unaltered, the programs are five years' worth of study. To cut 40% was just not responsible."

(Updated! Listen to our JD MBA show here: http://www.mbapodcaster.com/MBA_MoreInfo/JD-MBA.asp?iEpisode=86)

Tulane -- or a Big Name MBA School?

Tulane is for students "who are bigger than themselves" -- especially in the wake of Hurricane Katrina's destruction. That's what Bill Hydrick tells me when I call. Bill is Director of Media Services at Tulane. We're talking about the question potential MBA students might consider -- is it better to stay near home to pursue their business education, or to shoot for a big name business school. It's a show I'm working on right now for MBA Podcaster.

Part of the issue, Hydrick points out, is that if you say you went to Harvard, everyone knows the brand. But only in the South does it count heavily that you went to Tulane. The school is getting its faculty in front the business community via CNBC, Fox and others to raise its image.

Meanwhile, Tulane business students get heavily involved in the community -- raising economic literacy and networking. Hydrick says he can't speak for the 2009 class yet, but the 2008 class was 93.5% employed within six months, with an average salary topping $83K. Several MBA students began their careers at NY brokerage houses with salaries over $150K. Tulane boasts two well-respected programs -- energy and finance. Companies such as Entergy, Goldman Sachs, Shell Oil, Capitol One and Bank of America frequently recruit on campus.

That's the theme that's beginning to build as I interview representatives at various regional schools -- students can escape the pull of home, if they want, but there's a special personalized quality they just can't get at a big name business school.

Summary of Free GMAT Classes That Are Currently Being Offered

Many test-prep companies these days are offering free sample GMAT classes. Take advantage of the offers, test out the various companies and find a teacher that really clicks with you.

1. ManhattanGMAT: http://www.manhattangmat.com/free-events-select-location.cfm
Free class at many locations across the U.S. They also offer a free CAT, study flashcards and free online trial classes
For $100 off any ManhattanGMAT class, use the promo code Podcaster when registering

2. Veritas Prep: http://blog.veritasprep.com/2009/05/veritas-prep-free-trial-gmat-class.html
Free class in Los Angeles, Chicago & Boston. They also offer a free CAT; a free GMAT iPhone study application
For $150 off any Veritas class, use the discount code pod150 when registering

3. Princeton Review: http://www.princetonreview.com/bootcamps.aspx
Free GMAT "bootcamps" across the country
For $100 off any Princeton Review class, use the promotional code NAMPOD when registering

4. Kaplan: http://www.kaptest.com/mbapodcaster
Scroll down the page to "attend free event"
For 10% off every one of Kaplan’s GMAT comprehensive options use code MBAPOD10 when registering

5. MBA Math: http://www.mbamath.com/podcast.htm
$10 off MBA Math's pre-MBA math prep course. Hit the ground running before you come to campus and/or show the admission's committee that you have the right quant skills under your belt especially if you're weak on GMAT Math.

Let us know if we missed anyone!

And here are our shows about the GMAT:
1. Test Taking Tips from Test Prep Masters: http://www.mbapodcaster.com/MBA_MoreInfo/gmat-test-taking-tips.asp?iEpisode=77

2. Comparing GMAT Test Prep Companies: http://www.mbapodcaster.com/MBA_MoreInfo/GMATComparison.asp?iEpisode=54

3. The GMAT, Everything You Need to Know: http://www.mbapodcaster.com/MBA_MoreInfo/Everything-about-GMAT.asp?iEpisode=4

4. GMAT Not Required: http://www.mbapodcaster.com/MBA_MoreInfo/GMATnotRequired.asp?iEpisode=37

5. Dealing With a Low GMAT Score: http://www.mbapodcaster.com/MBA_MoreInfo/low-gmat-score.asp?iEpisode=85

6. Conquering the GMAT (Video): http://www.mbapodcaster.com/mba-videos/Conquering-The-GMAT.asp?iEpisode=87

Which B-School for you? Regional or Big Name? We Talk to Simon in Rochester

Ah the value of a small school! I’m doing interviews for our show on MBA Podcaster.com to answer the question of whether students should go to regional business schools or the big name schools. Yet, again, I hear that the personal attention students get at the smaller regional schools outweighs the glitz of the brand.

This time it is Greg MacDonald, the Executive Director of Admissions at Simon Graduate School of Business Administration in Rochester, New York. MacDonald says students looking at regional B-schools will find constants such as specialized reputations and tighter personal relationships with faculty.

He says Simon’s reputation is in finance and accounting. What Simon teaches, he says, isn’t trendy, and doesn’t change with the times.

Their placement ratio is about 93% at ninety days after graduation. Like other schools, Simon expects that, in this rough economy, it will drop. However, MacDonald predicts Simon with weather the immediate storm. He says smaller schools like Simon don’t rely on the program hiring of the brand schools – as in, particular companies guaranteeing they will hire a specific number of grads. At the regional schools, the personal relationships with company recruiters bode well in tougher times. MacDonald advises students check to see what the average salaries are ten years past graduation, and the industries alumni gravitate toward. That will give you good information to extrapolate whether the regional – or brand – school is the B-school for you.

Stay tuned for our show on MBA Podcaster. We’ll let you know when it’s available for listening. Please feel free to comment or ask questions here in the interim.