MBA

One of the prompts for the New York University (NYU) Stern School of Business is strictly traditional, but the other two task candidates with tapping into their personalities and attitudes more profoundly and offer opportunities to convey their creative side. First, the school poses a straightforward question about applicants’ short-term professional aspirations and limits the response to a succinct 150 words. The first full essay prompt then requires candidates to develop a personal tagline in the style of NYU Stern’s (“Change: Embrace it.”), discuss its significance, and explain how they would act on it as an NYU Stern student. For the second required essay, applicants must tackle the school’s challenging but very revelatory “Pick Six” submission, which might be less intimidating for today’s applicants than it was when it was first introduced in 2017, given the ubiquitousness of social media. Together, Stern’s essay questions should allow you to present a good balance of your professional and personal sides for the admissions committee, though the optional essay is also on the table if you feel strongly that a vital part of your candidacy has not been covered by one or the other. Short Answer: Professional Aspirations  What are your short-term career goals? (150 word maximum, double-spaced, 12-point font) With this rather no-nonsense query about your motivation to earn an MBA and expectations as to where you will go with it after graduation, NYU Stern simply wants you to spell out what you have in mind as you approach this phase of your life and career. With just 150 words, you do not have any space to waste here, so focus on presenting your answer as directly and thoroughly as possible. Keep in mind that the rest of your application needs to provide evidence that your stated goals align with your existing skills and interests, especially once they have been augmented by an MBA education. This will show that your professed objectives are achievable and thereby lend credibility to your statement. The school does not ask specifically about past experiences or what about its program in particular makes it the best one for you, though brief mentions of either would be acceptable if they are particularly important to conveying your main points. Essay 1: Change: _________ it  In today’s global business environment, the only constant is change. Using NYU Stern’s brand call to action, we want to know how you view change. Change: _____ it. Fill in the blank with a word of your choice. Why does this word resonate with you? How will you embrace your own personal tagline while at Stern? (350 word maximum, double-spaced, 12-point font) Examples: Change: Dare it. Change: Dream it. Change: Drive it. Change: Empower it. Change: Manifest it. Change: [Any word of your choice.] If your first instinct when you read this prompt is to immediately start brainstorming catchy, cool-sounding slogans and trying to find something that will “wow” the admissions committee, you need to pump the brakes. To craft the most effective response to this unique new essay prompt, you will most likely need to work backward. The slogan is obviously the centerpiece of this essay, but you must be able to persuade the school that it is truly meaningful for you personally and is the basis of something you expect to do at the school and/or how you anticipate engaging with the NYU Stern community. So if you do not choose an authentic idea (word) that will position you to write compellingly and convincingly on these two points, you will have probably wasted your time, not to mention this interesting opportunity to share more about yourself with the admissions committee. Start by thinking at length about what change really means to you personally and professionally. How has it played a role in your life and career to date? What is your reaction to change? How do you tend to navigate it? Do you enjoy creating change, or do you resist it? Why? Let your mind really roll with these kinds of questions so that you uncover as many options as possible, and rest assured that there is no “right” answer that the admissions committee is expecting you to guess. Choosing a word that is genuinely important to you and reflective of your attitude with respect to change is what will make your essay powerful and memorable—not a word you are hoping no one else will use or that forces the admission reader to reach for the dictionary because it is so obscure. And keep in mind that you do not necessarily have to frame change as something that should always be indiscriminately pursued merely for change’s sake. For example, something like “regulate change” could be an appropriate and even compelling choice if the candidate has strong personal reasons for this mind-set and can clearly express how it could be an additive or useful one at Stern. Again, in asking how you expect to “embrace your . . . tagline while at Stern,” the admissions committee wants to know how you envision yourself participating in, and perhaps influencing or contributing to, the school’s greater community. For you to offer your strongest possible ideas on this point, you really need to know the school well, because if what you describe or propose is just not possible at Stern or does not align with its values and culture, this will definitely not be a point in your favor. As you do your research, look for specific niches and opportunities that correspond not only with your proposed slogan but also with your personality, strengths, knowledge, and/or experience. Read student blogs, peruse discussion boards, catch up on the past year or more of press releases from the school, spend some time on Stern’s YouTube channel—these are all good places to start (or better, continue!) educating yourself about what life at the school is really like, beyond the course work. Essay 2: Personal Expression (a.k.a. “Pick Six”) Describe yourself to the Admissions Committee and to your future classmates

Emory University’s Goizueta Business School demands three relatively brief written essays and a one-minute self-introduction video essay from its applicants. The school’s first essay question asks candidates to discuss their short-term career goals and why the choices are fitting ones. For the second essay, applicants need to discuss a past leadership experience—perhaps one that relates to or demonstrates one or more of the qualities of the school’s namesake that the prompt extols, though this is not explicitly requested. In the third essay, candidates must explain why they are interested in earning a Goizueta MBA degree in particular and the give-and-take relationship they anticipate having with the program overall. The school’s video essay might cause some applicants a bit of anxiety because Goizueta provides no advance information about what the questions will be. Candidates must therefore be ready to respond extemporaneously. If needed, applicants can use the optional essay to provide clarification or explanation about elements of their candidacy, but with only 200 words maximum, they will need to do so very succinctly. POST-MBA CAREER GOALS: Define your short-term post-MBA career goals. How are your professional strengths, past experience, and personal attributes aligned with these goals? (300 word limit) Like most business schools, Goizueta wants to learn the reasons behind its applicants’ decision to pursue an MBA, but unlike many programs these days, it still asks candidates to actually write a full essay on the topic. Very simply, the admissions committee wants to know that you have given serious thought to your professional trajectory and have identified where you want to go, how equipped you already are to get there, and how an MBA will help you move forward. The specific goal you present is less important here than showing that you understand what is involved in progressing toward your objectives and recognize the qualities and abilities you currently possess that will help position you for success. LEADERSHIP IN BUSINESS: The business school is named for Roberto C. Goizueta, former Chairman and CEO of The Coca-Cola Company, who led the organization for 16 years, extending its global reach, quadrupling consumption, building brand responsibility, creating unprecedented shareholder wealth, and demonstrating a commitment to values and positive impact on society. Roberto Goizueta’s core values guide us in educating principled leaders to have a positive influence on business and society. Please provide a specific example of your leadership and explain what you learned about yourself through the experience. (300 word limit) Goizueta Business School clearly appreciates the leadership abilities and professional success of the former trustee after which it is named. The leadup to this second essay prompt mentions the business leader’s core values and lists some of his most impressive accomplishments at Coca-Cola’s helm. However, the prompt itself neither references values outright nor requests that applicants discuss a comparable or related achievement. The idea, perhaps, is simply that the school has high expectations for its graduates and community members and seeks individuals who aspire to make a real impact on the world around them. They are guided by their values and seek to create positive outcomes for others as well as themselves. The admissions committee is not expecting you to be able to claim an accomplishment on the level of Roberto Goizueta’s, but you should strive to identify a story that illustrates both your leadership style and your long-term potential. Because you have only 300 words for this essay, we recommend responding in a straightforward manner. Launch directly into the story of your leadership experience, detailing the specific actions you took in directing others to achieve your result. Although we often note that not all great leadership stories end in success, in this case, you should discuss a situation that had a positive resolution. The key here is to show you shared a valuable experience with colleagues, extracted the most from your team members, and attained a desired outcome. We recommend using a narrative approach for your story, but be sure to include the thought process and motivation(s) behind your actions. This way, the admissions committee will take away both a clear picture of what you accomplished and the aspects of your character that inspired you and helped enable your success. Lastly, do not forget or neglect to explain what you learned from the experience—the admissions committee specifically requests that you do so! Omitting this element from your essay could be viewed as an indication that you are not good at delivering what is asked and/or at engaging in constructive self-reflection, and you definitely want to avoid this. You also want to avoid sharing that you learned a specific skill or business truth, because the prompt specifically says, “learned about yourself” (italics ours). To craft a compelling response, you will need to give serious thought to how the situation made you aware of a facet of your character that you had not previously perceived.   WHY GOIZUETA? What are you looking to gain from Goizueta’s MBA degree and how do you see yourself contributing to the Goizueta community? (200 word limit) With this rather straightforward and traditional essay prompt, the admissions committee is requesting fundamental information that will help it understand your motivation for pursuing an MBA from Goizueta specifically and why you believe its program is the right one for you. By asking this question separate from its request for your short- and long-term goals, the school leaves the decision of how to frame your motivation(s) up to you. Briefly explain why you are inspired at this point in your life and career to earn this advanced degree. To illustrate how Goizueta can help you, you must demonstrate a thorough understanding of what the program offers and a well-thought-out game plan for engaging with these offerings. Effectively doing this and subsequently writing a reasoned, nuanced essay requires that you familiarize yourself with Goizueta’s various resources and pinpoint those that truly pertain to you and the direction in which you hope to head. 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Applicants to the Kellogg School of Management at Northwestern University must provide two required written essays. The first deals with a leadership experience that resulted in some form of ongoing merit, while the second focuses on candidates’ guiding principles. Interestingly, both essays center on “value(s)” but in very different ways, according to two separate definitions of the term. Kellogg’s questions thereby seem to address two key aspects of business today, and candidates will need to demonstrate their awareness of both and their potential to fulfill them. In addition, the admissions committee requires that applicants submit three brief video essays, but thankfully, it gives candidates some information in advance as to what the questions are (or at least are about) as well as significant opportunities to practice before recording their official responses.  Required Essay 1: Kellogg’s purpose is to educate, equip, and inspire leaders who create lasting value. Provide a recent example where you have demonstrated leadership and created value. What challenges did you face, and what did you learn? (450 words)  This is a fairly straightforward essay prompt, and we recommend responding in an equally straightforward manner. Launch directly into the story of your leadership experience, and detail the specific actions you took in directing others to achieve some kind of enduring result. The key here is to show that you shared a valuable experience with colleagues, extracted the most from your team members, and attained a desired outcome. Although we often note that not all great leadership stories necessarily have to end in success, Kellogg’s request for evidence of “lasting value” certainly implies that the school wants to hear about a situation that had a positive resolution. You will need to convey not only your role in spearheading a group to achieve what you did but also how that achievement has persisted. Note that Kellogg does not specify that the experience you share must be related to your workplace or career. Leadership does not need to have an official title attached to it, and it can be expressed in a community service or even family life setting just as much as in a workplace, so explore all the different areas of your life for possible stories. We recommend using a narrative approach to present your story, but be sure to also share the thought process and motivation(s) behind your actions. This way, the admissions committee will take away a clear picture not only of what you accomplished but also of the aspects of your character that inspired you and helped enable your success. That said, the school acknowledges within the prompt that even endeavors that have a positive result are rarely smooth sailing from beginning to end—hence the question about challenges faced. A mistake applicants often make in writing this kind of essay is presenting a strong narrative in which they are incredible leaders, and then near the end, making a brief (and typically disjointed) reference to a hardship or conflict encountered along the way, meant to fulfill the “challenges” element of the essay query. To be effective and believable, your ups and downs must be woven intrinsically into your narrative, rather than simply acknowledged at the end. Clearly explaining how you approached and prevailed over the challenge at hand is crucial, so go beyond simply describing the roadblock itself and ensure that you detail your response and the inner workings of your decision making at that point. Lastly, do not forget or neglect to explain what you learned from the experience—Kellogg specifically asks you to do so! And keep in mind that for your takeaways to be “meaningful,” they have to be profoundly connected to your narrative. The admissions reader should be able to easily understand the connection between the situation you describe and your subsequent learnings. Required Essay 2: Values are what guide us in our life and work. What values are important to you and how have they influenced you? (450 words) Kellogg offers another very no-nonsense essay question here, so not a lot of interpretation is needed. In its explanation of what it looks for in applicants, the admissions committee states that it “takes everything into account, including your values,” so a frank query on the topic only makes sense. Kellogg wants to know how your values influence your decisions and actions, and in particular, which ones tend to guide you the most often or the most intensely. Simply stating that you embrace certain values is easy, so the admissions committee is understandably asking for illustrations of this phenomenon to better gauge this for itself. Having an idea of how you tend to incorporate your core beliefs into your life will help the school better envision how you might fit into its classrooms and the business world after you graduate. Perhaps at the most basic level, Kellogg wants to know that you understand how values come into play in “life and work.” This final phrase seems to open the door to stories from your personal life or from your career, with no particular emphasis on either, so consider all your options to identify the most fitting and revealing one. Although in theory, describing a situation from your personal or community activities would provide a nice balance if you chose a professional story for the school’s first essay (and vice versa), what is more critical is sharing the experiences that best convey the concepts you wish to highlight. Given the 450-word maximum for this essay, you should skip or at least minimize any preamble and dive into your response, clearly identifying your selected core values and describing specific situations that illustrate them in action. Your ultimate goal is to clearly illustrate for the admissions committee how you have been (and are) guided by your fundamental beliefs.  Believe us when we say that Kellogg does not have a set list of values that it expects applicants to demonstrate and that by not choosing the “right” ones, you will not be accepted to the school. As always,

In a 2020 blog post, Allison Jamison, the assistant dean of admissions at Duke University’s Fuqua School of Business, noted that the COVID-19 pandemic had complicated the admissions process, stating that as a result, “We learned the importance of keeping things simple.” Reflecting this mind-set, the admissions committee’s demands are on the minimal side, which most candidates likely appreciate. Applicants must respond to only one short-answer “essay” question in a mere 100 words, and the maximum length for the program’s one required traditional essay is just 500 words. Lastly, the school’s distinctive “25 random things” prompt might give some candidates pause at first, but we love it for the freedom it gives applicants to get creative and paint a well-rounded picture of themselves, and it should therefore be approached with more enthusiasm than fear. (Plus, Jamison noted in the aforementioned blog post that the admissions committee enjoys reading these essays the most.) Our detailed analysis of all Fuqua’s prompts for 2022–2023 follows.  Required short-answer question: Answer the following question in 100 words. What are your post-MBA career goals? Share with us your first-choice career plan and your alternate plan.  With this question, Fuqua is essentially asking for a standard element of a traditional personal statement—one’s short-term career aspirations—with the addition of one rather nonstandard component—the suggestion of an alternative path. Candidates often feel they must be totally unequivocal in their career goals to impress the admissions committee, but in this case, Fuqua is directly instructing applicants to speculate on and articulate multiple options. The school knows that sometimes the best-laid plans do not play out as expected or may even yield unintended results, and it wants to know that you are prepared to switch gears and recommit to a different path, if necessary—and that you are fully capable of doing so. The key in answering this question is showing that your backup goal is just as connected to your skills, interests, and ambitions as your original plan and does not come “out of left field,” so to speak. For example, you would probably have a difficult time convincing the admissions committee that your short-term goal is to work in technology consulting while your alternate goal would be to work in human resources, because these industries, for the most part, require entirely different skills and personalities. Just be mindful that both goals you present must be plausible and achievable. First required essay: 25 Random Things About Yourself The ‘Team Fuqua’ spirit and community is one of the things that sets the MBA experience apart, and it is a concept that extends beyond the student body to include faculty, staff, and administration. Please share with us “25 Random Things” about you. The Admissions Committee wants to get to know YOU—beyond the professional and academic achievements listed in your resume and transcript. Share with us important life experiences, your hobbies, achievements, fun facts, or anything that helps us understand what makes you who you are. Your list will be limited to 2 pages (750 words maximum). Please present your response in list form, numbered 1 to 25. Some points may be brief, while others may be longer. Be prepared to have fun creating this list for your Fuqua application! Before you start scribbling down random things, though, stop and take some time to thoroughly brainstorm. You cannot simply draft a list of “typical” accomplishments—remember, the school is asking for a random list, and keep in mind that your reader should learn more about you as an individual with each item presented. Make sure that every new story or tidbit of information you share gives the admissions committee a different window into your personality, into what really makes you tick and makes you you. Most important is that you own all the points on your list—that your final list could apply to no one but you. For example, a statement such as “I love the movie Goodfellas and have watched it multiple times” could easily be made by many applicants—therefore, it could not be considered truly yours. However, if you were to instead write, “At least once a year, my friends and I get together to watch our favorite movie, Goodfellas, all wearing dark suits, eating fresh pasta with homemade sauce, and reciting the dialogue line-for-line,” you would present an experience that is unquestionably yours, because few—if any—other candidates would be likely to say this exact same thing. Although Fuqua does not want you to rehash your professional and academic accomplishments in this list, and you should certainly avoid repeating facts that already appear elsewhere in your application, you can of course still touch on significant moments that occurred in these spheres. Use detail and a narrative style (keeping things brief!) to give these elements life and ensure that they are personal. For example, rather than saying that you “won a creative thinking award for implementing an innovative training solution,” you might write that you “once won an award for instructing trainees to flip their desks upside down and face what was previously the back of the room—thereby creating an exercise to introduce new hires to the concept and value of new perspectives.” Second required essay: The Fuqua Community and You Fuqua prides itself on cultivating a culture of engagement. Our students enjoy a wide range of student-led organizations that provide opportunities for leadership development and personal fulfillment, as well as an outlet for contributing to society. Our student-led government, clubs, centers, and events are an integral part of the student culture and to the development of leaders. Based on your understanding of the Fuqua culture, what are 3 ways you expect to contribute at Fuqua?  Your response will be limited to 1 page (500 words maximum). With this essay prompt, Fuqua clearly wants to see evidence that you have done your research on the school’s culture and community and developed a true and thorough understanding of it. Ideally, your essay will convince the admissions committee that you are eager to take advantage

The MBA class of 2020 recorded a whopping average pay package of $176,083 at Stanford, $175,148 for NYU – Stern and $173,882 for Tuck – despite the tough economic crisis created by the ongoing pandemic. Does it make you wonder why MBA graduates right out of business schools get paid such high salaries compared to graduates of other degree programs? Why do companies hire MBAs at high salaries? An MBA program provides the opportunity to tackle real-world business issues and challenges, honing your analytical and critical thinking abilities and imparts skills including strategic management and decision-making, time-management, teamwork and leadership.There is a lot of peer-to-peer learning due to the class diversity and the prior professional experience of your classmates.Through class interaction and discussions, you are exposed to different (often contrasting and conflicting) perspectives and approaches to solving complex issues. You develop a strong network of high achieving peers and alumni from varied professional and cultural backgrounds. This powerful benefit lasts a lifetime, long after you’ve forgotten what you learnt in the classroom. The various courses covered in the program as well as the practical exposure helps you get a complete picture of how organizations operate along with various business concepts and tools used in the industry. The skills acquired are applicable across industries as well as various roles. The in-depth knowledge and insights gained during the rigorous MBA program can be a huge value-addition to an organisation. According to GMAC corporate recruiters survey, versatility, strong communication skills, strategic thinking, taking up leadership roles, navigating the challenges of technological disruption and handling a complex business environment were the top qualities of business school graduates that recruiters are confident about. Another aspect that makes the top business school candidates attractive to recruiters is that these schools have low acceptance rates. Candidates who get in have made it after going through a tough selection process. Generalists (MBA graduates) vs specialists While the age-old debate on whether you should be generalist or specialist continues – we’ll evaluate various aspects that employers would take into account while deciding whom to hire. In today’s fast-paced economy and rapidly changing work environment, transferable skills like leadership, communication, teamwork, ability to multi-task, ability to adjust to any work environment are of utmost importance. Especially, getting a grasp of issues a business faces, assessing various scenarios and being able to take high-level decisions could be a decisive factor in the profitability and the success of a company. An MBA graduate is equipped with the knowledge and expertise to hold such key positions. Having a bird’s eye view of an organisation, insights into its operation, and processes proves to be the greatest strength of MBA grads as they are able to gauge the breadth and depth of an issue. Due to their ability to connect the dots, they can be successful in strategic decision-making roles. Innovation can give an organisation an edge over its competitors. Generalist, due to their lateral thinking and know-how of various areas are more likely to innovate. A generalist can adapt to changes in role or industry, to meet the needs of the changing time, so that the impact of market risk on future career prospects is minimised. In December 2020, Bill Gates added fresh perspectives to this debate by referring to the book ‘Range: Why Generalists Triumph in Specialized World’ by David Epstein as one of his top choices for 2020. Bill Gates believes that his own career fits the generalist model; in addition to his passion for coding and computers, he had many other interests and did a lot of reading on a wide variety of topics. He attributes Microsoft’s phenomenal success to his broad-based thinking than other start-ups of that era as well as hiring not just excellent coders but those with real breadth within their field and across domains.   Generalist vs specialist example   Consider the product development industry. There are various team members with specialized skill-sets and expertise in their own fields – those involved in research and development, technical experts, manufacturing department, quality control (testing), logistics handling, marketing and sales, customer support.   However, for a successful product roll-out, there’s the need for a broader vision, strategic planning, chalking out the perfect roadmap throughout the product life-cycle, working closely with the various departments involved, coming up with a product that addresses customer needs and is aligned with the company’s long-term goals.   This is where the generalist skills – that of the Product Manager comes into picture. This role demands that you possess multidisciplinary skills in various areas including marketing, technology, strategy, teamwork, time-management.   Highest MBA salary in the US The top-tier elite business school graduates receive much higher pay packages than others. Here are the average MBA salaries at some of the top ranked US business school Business School Average salary & bonus MBA class of 2020 Stanford $176,083 NYU – Stern $175,148 Dartmouth – Tuck $173,882 Northwestern – Kellogg $173,057 Chicago – Booth $172,683 Cornell – Johnson $172,254 Harvard $171,785 Columbia $171,436 Virginia – Darden $169,190 Duke – Fuqua $167,134 According to GMAC corporate recruiters survey 2020, MBA graduates still command a premium with the median MBA salary at $115,000, which is 75% more than those with a bachelor’s degree (in Covid Wave I). Compare this with the average salary in the US after an MS degree which would be $79,344, according to PayScale. The salary difference is even more pronounced in Fortune 100 companies and the top three industries (finance, consulting and technology) recruiting the majority of the MBA grads. In the very popular consulting industry, the median salary of MBA grads is double that of bachelor’s degree holders in Covid Wave I.   Highest MBA salary in India   Let’s take a look at the highest and average MBA salary in India at the top internationally-ranked business schools. The IIM Ahmedabad PGPX class of 2020 reported the highest salary of INR 81 lakhs with a mean salary of INR 33,36,247 (average work experience