Category — MBA

Whether you’ve lost your job, or just graduated with a Bachelor’s in business, the thought of looking for work right now might make you want to cry like you did over that fourth year statistics exam. Staying in school, or going back might seem comforting, and there are plenty of good reasons to get an MBA. Just make sure you’re pursuing more business education for the right reasons.

Everyone Wants an MBA

According to the the Graduate Management Admissions Council, the numbers are up. A record number of over a quarter million people took the Graduate Management Admissions Test (GMAT) in 2008. And more than 75% of full-time graduate business programs report that applications are on the rise. All this translates to stiffer competition to get into business school right now.

It also proves you’re not alone. And all those people can’t be wrong, right?

An MBA is Not a Back-Up Plan

While your motivation to go back to school may in fact be driven by your current circumstances, you can’t let those who review your application know that. Never let decision makers think you’re just trying to escape the bleak job market. The application materials must paint your quest for the MBA as part of an intentional career path strategy. Don’t forget those compelling reasons why you want an MBA, why you want to study in the particular program you’re applying to, and a clear explanation of your career goals.

Taking Advantage of the Part-Time MBA

If you still have a job, but you’re concerned about the future, you may want to complete an evening, weekend, or part time MBA program. These can be completed while still employed and help you accomplish several things:

Improve standing with your current employer.
If the time comes when your company is forced to start laying people off, do you want to be the slacker who checks out a five o’clock or the go getter who’s studying business at night and on weekends? And the beauty of online MBA programs is that you can complete a lot of your work at work on your lunch hour.

Gain valuable skills.
Not only will studying for your MBA make you look good to your superiors, if you choose the right one you will actually learn skills that you can apply right away at work, increasing your value to the organization and decreasing the likelihood that you’ll catch the ax any time soon.

Get your education subsidized.
Many employers offer tuition reimbursement programs that can significantly reduce your out of pocket costs for obtaining an MBA. Especially if you know you need the degree to advance your career, you may as well get started while you still have a job and this valuable benefit to take advantage of.

Prepare for the future.
In the worst case scenario you actually lose your job. Having more education will only help you in your search for a new one.

If you want an MBA, and you can afford it – both in time and money – go for it. You certainly won’t be lonely!

Applying for business school can be an agonizing process. How do you differentiate yourself from all the other highly qualified candidates? GMAT preparation courses have been around for a long time to help you get the highest GMAT score, but as the competition grows more fierce, you need to set yourself apart in other ways. It may be time to consider hiring a business school admissions consultant.

Do You Really Need an Admissions Consultant?

According to Stacy Blackman, most applicants to top business schools are qualified to attend. That doesn’t mean everyone gets in. The role of consultants like Blackman is to make sure your application stands out. Blackman and others offer personalized services that are also customized to the schools the student is applying to.

Consultants can help with everything from developing a strategy to assisting with essay writing and interview coaching. Premium services can include planning campus visits, coordinating school communications, and access to online resources to make your application as good as it can be.

If you’re thinking these services don’t come cheap, you’re right. That’s where the competition can help.

Beat the GMAT Competition

Qualified prospective MBA candidates can bow compete for scholarship packages that include GMAT preparation courses as well as expert consultation by a business school admissions consultant. The fourth annual 2009 Beat The GMAT Scholarship Competition is open for submissions. Applications will be accepted until May 8th.

Applicants must have completed college or be in their final year of college, and plan to attend business school within two years. 2009 Beat The GMAT Scholarship Competition is open to U.S. and international candidates.

“In these difficult economic times, there is a surge in business school applications, making it increasingly competitive to get into business school. We aim to support deserving candidates with this scholarship program,” said Stacy Blackman, President of Stacy Blackman Consulting.

Stacy Blackman Consulting and her team of professionals have hands on admissions experience, MBA’s from top schools, and strong writing and marketing skills. They’ve helped prospective students gain admission to every top business school in the world and they’re partnering with Manhattan GMAT to offer the prizes for the competition.

Enter to Win Free Services

The Beat the GMAT competition provides potential business school students with financial help assistance to help them achieve their educational goals by awarding the following prizes:

• First prize ($5,490 value): $500 cash, one full Manhattan GMAT course, 1 school comprehensive package with Stacy Blackman (business school admissions consultant).
• Second prize ($2,310 value): $500 cash, one full Manhattan GMAT course, 2,500-word editing service with Stacy Blackman.
• Third prize ($2,210 value): $500 cash; one full Manhattan GMAT course; 1,000-word editing service with Stacy Blackman.
• Fourth prize ($2,020 value): $500 cash, one full Manhattan GMAT course; copy of the MBA APPLICATION ROADMAP book by Stacy Blackman.
• Fifth prize ($2,020 value): $500, one full Manhattan GMAT course.

So how do  you enter? This link takes you directly to the 2009 Beat The GMAT Scholarship Competition site.

Applying is as simple as writing an essay. And if you find a consultant for that, let us know!

If you’re wondering whether you should pursue the Chartered Financial Analyst (CFA) credential in place of the more traditional MBA, you may want to work toward both at a CFA partner school.

Passing the series of CFA exams demonstrates that you have the technical skills to succeed in asset or investment management, specifically in the field of investment banking. Getting your MBA prepares you for a broad range of challenges in the business world, especially the so called ‘softer’, yet crucially important leadership and people skills.

The MBA and CFA are actually quite complimentary designations.  This is why the CFA Institute has created specialized resources to help university offer the CFA Program Candidate Body of Knowledge (CBOK) as part of their business programs. The following North American colleges and universities currently offer CBOK curriculum.

Northeast

• Baruch College, The City University of New York, Executive MS in Financial Statement Analysis and Securities Valuation
• Boston University, Master of Science in Investment Management
• Cornell University, MBA Program at the Johnson School of Management  University of North
• University of Pittsburgh, MBA with Concentration in Finance Program
• Fordham University, Bachelor of Science in Finance 
• University of Rhode Island, Bachelor of Science, Major in Finance 

Southeast

• Georgia Institute of Technology, Master of Business Administration 
• University of Richmond,  BS in Finance 
• Carolina at Chapel Hill, Master of Business Administration, Concentration in Investment Management
• University of Virginia, B.S. in Commerce with a Concentration in Finance
• University of Florida, Bachelor of Science in Business Administration with a Major in Finance Master of Science in Finance
• Virginia Tech, BS in Finance

Midwest

• University of Kansas, Bachelor of Science in Business, Major in Finance
• University of Missouri at Columbia, Bachelor of Business Administration, Emphasis in Finance 
• University of Nebraska-Lincoln, Bachelor of Science in Business Administration, CFA Track within the Finance Major 
• Creighton University, Master of Security Analysis and Portfolio Management     
• Marquette University, Applied Investment Management Program 
• Michigan State University, Bachelor of Arts in Finance MBA Program 
• Saint Louis University, John Cook School of Business, Bachelor of Science in Finance, Financial Analyst Track 
• University of Wisconsin-Madison, Master of Business Administration, Applied Securities Analysis Program 
• University of Illinois at Urbana-Champaign, Master of Science in Finance

West

• University of San Francisco, MS in Financial Analysis
• University of Southern California, MBA
• Texas Tech University, Bachelor of Business Administration, Finance Major with Investments Emphasis

Canada

• Concordia University, Goodman Institute of Investment Management MBA Program
• Université de Sherbrooke, M.Sc. in Finance
• Université Laval, Bachelor of Administration with Finance Major MBA Finance

The U.S. Army Reserve has enlisted the help of the Graduate Management Admission Council (GMAC), an association of the world’s top business schools, to help encourage soldiers to pursue a graduate business degree. Operation MBA was created to teach army reservists about the value of an advanced business degree. When combined with their military experience, the MBA prepares them to compete against civilian job seekers and excel in business.

Lt. Gen. Jack C. Stultz, Chief, Army Reserve, and Commanding General, U.S. Army Reserve Command is excited about the program.

“Operation MBA will enhance opportunities for Army Reserve Soldiers who wish to contribute their talents and skills to the Nation’s business communities.”

Military + MBA = Business Success

The level of responsibility granted at relatively young ages in the military, the requirement to solve problems on the spot, and the leadership skills developed in the military are all a good foundation for success in business. With baby boomers leaving executive positions for retirement, ex-military may have just the skills corporate America needs. An MBA gives them the specific business credential they’ll need to get in the door.

According to a poll by Military MBA, over one fourth of military officers seek an MBA in order to improve career opportunities outside the military.

David A. Wilson, president of GMAC, notes the synergy between the military and business school and beyond:

“Officers and other leaders are among the very best candidates for business school. Their experience in managing resources and developing strategy enrich the dialogue in the classroom, a cornerstone of the MBA program. Their discipline prepares them well for the rigors of the program and for management upon graduation.”

Goals of Operation MBA

Teaming up with the GMAC, the Army Reserve hopes to accomplish the following:

• teach members of the Army Reserve the value of obtaining an MBA
• providing easy access to preparation materials for the Graduate Management Admission Test (GMAT)
• information about applying to graduate business schools
• listing of military-friendly business schools

The list of schools is especially useful in that these institutions have agreed make various concessions to military personnel, such as waiving admissions fees, making financial aid available, and offering grant deferments if soldier’s plans are delayed by their service branch. Together GMAC and the Army Reserve will post material about Operation MBA on their respective websites, www.mba.com and www.ArmyReserve.Army.mil.

If the military is such a good preparation for management, maybe our Fortune 500 should incorporate some military style discipline into their training programs . Jim Bolt at Fast Company agrees. How about you?

The lines between online education and traditional brick and mortar programs are beginning to blur as increasingly tech savvy and mobile MBA candidates demand more web-based resources. On-demand seminars and lectures, once the domain of online graduate programs are being used to augment more traditional classroom experience.

Students Expect 24/7 Access

Building on their successful Open CourseWare Program, MIT’s Sloan School of Management provides extensive audio and video recordings for free to students and the public at large. And last month the London Business School made plans to implement a comprehensive class capture program. Their MBA students will soon be able to access recorded lectures from anywhere in the world.

MIT and the London Business School are by no means alone. Service provider Mediasite now helps students from more than 600 colleges and universities bridge the gaps of time and distance. They coordinate and automate webcasting and content management systems for the capture, management, delivery and search of rich media presentations (audio, video and graphics) for live or on-demand viewing.

Russell Altendorff, Director of Information Systems for London Business School described the need for the online component of business education.

“All major business schools are coping with an insatiable demand, primarily student-driven, for video and podcasting. The demographics of our students are changing. We see an increasing volume of Executive MBA students who are highly mobile, and with our new centers in Dubai and Hong Kong, over the last two years we increasingly have a whole cohort of students taught abroad and as a result we need to deploy more distributed learning.”

The London Business School had already been making filmed lectures and events available to students, but the new system will automate the process so that they can provide even more. This leader among business schools sees the online content as an addition to their already rich MBA program content.

“…we can not only provide online content as a service to our customers, but also as an adjunct way to support the learning process, so learning can occur not only through reading, reflection and face-to-face teaching, but also can be reinforced through access to instruction online.” said Altendorff.

Educational Benefits of Captured Classes

When students have access to recorded lectures it enables them to access class anytime. Complex concepts can be reviewed on demand until the message is clear. In that respect it’s almost like having the instructor on call. Also, knowing that lecture material is available later means students don’t necessarily have to take notes. While many students learn well by taking notes in class, others learn better when they can focus their full attention on listening.

Class capture provides the confidence that nothing will be missed. Everything the professor says and presents is stored for later reviewed. And some proponents believe that having a backup of the live presentation frees students to engage with each other and the instructor in a more meaningful way.