Rise in Unemployment Leads to Rise in GMAT Test Takers

Bloomberg News recently came out with a study showing that during recession periods, many unemployed turn to options to further their education, especially in business.

With the current recession being the worst since World War II, there has been a record number of GMAT exam registrations.


With an increased number of exam takers, there is increased competition to score well. That's why we at MBA Podcaster want to make sure you've got all the tips to score your best on test day.

If you are planning to take your GMAT soon, make sure you've listened to all our GMAT shows and taken advantage of our discount codes offered for test prep courses.

Lastly, find out if your dream business school allows you to take the GRE instead of the GMAT. Many top business schools are changing those admissions requirements these days. We talk about that in our show, GMAT Not Required.

Good luck!

Admissions Officers Offer Tips on Increasing Applicants Chances of Getting In

Recent white paper from Veritas Prep releases study surveying top admissions officers

One of our partners, Veritas Prep, published another stellar white paper recently. It is entitled, "Trends in MBA Admissions: Perceptions of Admissions Officers at Top 30 Business Schools." This one announces the results of an online survey, conducted during the 2008-2009 admissions cycle, of admissions officers from the top 30 business schools (as listed by BusinessWeek).

In this report, the surveyed admissions officers have clearly stated common mistakes applicants make and what characteristics they look for in an applicant.

We think the findings in this report will prove to be especially useful for applicants this year, so we wanted to highlight them for you here. Make sure you read the entire report so you know how to use these findings to your advantage on your application.

The application process:

• Careless errors (81%) ranked as the top faux pas committed by applicants. Inconsistency between institutional choice and students’ educational objectives and ambitions ranked second, and the inclusion of unrequested items and inappropriate interview conduct tied as the third most common application faux pas.
• Forty three percent said they would not prefer a larger applicant pool.
• Almost half of respondents (47%) report that the number of admits straight out of college has significantly or moderately increased compared to five years ago.

The evaluation process:

• The importance of analytical skills (50%) ranked ahead of leadership (19%) in student selection.
• Professional experience (63%) is the most important factor in student selection. Community service (6%), which traditionally ranks high, is reportedly the least important
  selection criterion.
• Seventy percent of admissions officers feel that admissions consultants help students identify the programs with which they fit best and clarify their career goals.
• Ninety-two percent of admissions officers are aware that applicants use admissions consultants more often than they did five years ago.
• Eighty percent of respondents said that institutional priorities and enrollment goals are more important than or as important as an individual applicant’s merit.
  

What they want to see:

• The biggest challenges institutions face are attracting more highly-qualified students (33%) and supporting cultural diversity (33%).
• Among desired changes that admissions officers would like to see in their applicant pool, diversity ranks number one (87%).
• Admissions officers would like to see the student application process include more face-to-face or telephone interviews in the next five years (60%). While a slight majority
  of admissions officers see the application process becoming less complex, almost half (47%) believe the application process will actually become more complex in the coming years.

Veritas says it best by stating: "Understanding what wows and irritates admissions officers at leading business schools, and tailoring the MBA application accordingly, can propel one’s candidacy from unlikely to competitive."


Veritas Prep is offering a special discount for MBA Podcaster listeners. For $150 off any Veritas class, use the discount code POD150 when registering on http://www.veritasprep.com/

Standing Out Among the Outstanding: MBA Schools

An animated discussion rang out in one of the auditoriums on the Microsoft campus in Redmond Thursday, June 18th. The panel of three diverse and knowledgeable guests was assembled by "Africans at Microsoft." The subject, however, broadly applies to anyone considering an MBA who is seeking guidance and, at times, assurance.

Hear the event here: http://www.mbapodcaster.com/MBA_MoreInfo/BizSchoolPanelMicrosoft.asp?iEpisode=74

The full title of the event, the 2nd Annual MBA Panel, is Standing out among the outstanding: Recession, Competition, and Business School Admissions. Moderator Chika Ekeji asked the panel for changes they've seen as a result of the current economic crisis. Scott Shrum, the Director of MBA Admissions Research at Veritas Prep, says the surge in applications to MBA schools has dropped away because of the lack of financing available. It's become, Scott says, a "lost season.." The desire is there among would-be MBA applicants, but the money isn't.

Bryan Tomlinson, one of two experts-in-our-midst, along with Edward Gali, both representing the University of Washington, home to the Michael G. Foster School of Business, added that it's "tough out there." Later in the conversation, Bryan said that the classes of 2005 and 2006 didn't build up their networks -- they didn't need to. But the class of 2009 are great networkers, and that will serve them well over time.

Barbara Thomas, President and CEO of the National Black MBA Association, offered her tips for networking to the Microsoft employees gathered in the room and on the conference line. Barbara says she collects about 100 business cards every week, writing on the back of the cards where she met the people and what she said to them. She follows up with notes every six months.

To the issue of improving your candidacy, Cassandra Pittman, Assistant Director of Marketing at INSEAD, frankly told the potential MBA candidates that they shouldn't be preparing for the more narrow role of being accepted at a choice school. Instead, they should be living a dynamic life, focused on what they are interested in, their true passions. She suggested they take some math to prep, but also travel, explore their passions, and meet a lot of people.

While I heard anxiety trip in the voices of the potential students who asked questions at the mic, the answers supplied by the panelists were even, honest, and provocative. The take-away from the panel follow your unique passions and network!