Trends in MBA Admissions: Perceptions of Admissions Officers at Top 30 Business Schools

Page created by Samuel Ryan
 
CONTINUE READING
Veritas Prep Presents:

                Trends in MBA Admissions:
        Perceptions of Admissions Officers
            at Top 30 Business Schools

   A white paper analyzing the issues and perceptions among admissions officers
at the leading U.S. business schools to provide prospective students with the insight
 to improve their chances for admission in an increasingly competitive landscape.

                          Copyright ©2009. Veritas Prep. All rights reserved.
Introduction......................................................................1

                                  Selected Results

                                           Student Applications..............................................2

                                           Student Evaluation Criteria...................................3
Table of Contents

                                           What Admissions Officers Want..........................6

                                           The Emerging Role of Parents
                                           in the Student Application Process......................8

                                  Conclusion...............................………………………….9

                    www.veritasprep.com
Introduction
Application volume continues to climb as the economy slumps.
The applicant pool is becoming more diverse. Demand for various
types of graduate business education grows as applicants look for
more flexible learning options. To spread their bets and improve
their chances of admissions success, applicants are applying to
more schools than ever before. Clearly, gaining admission to a
graduate business program is getting more and more difficult.
                                                                             “Understanding the issues
Business school applicants face a myriad of challenges and con-
siderations throughout the graduate admissions process. As the               and perceptions among
world’s fastest-growing GMAT preparation and MBA admissions
consulting provider, Veritas Prep is committed to helping ap-                admissions officers at the
plicants leverage their academic and personal strengths to gain
admission into the top business schools in the world, via sound              leading MBA programs
intelligence and thorough preparation. Understanding the issues
and perceptions among admissions officers at the leading MBA                 provides prospective students
programs provides prospective students with the knowledge and
insight to improve their chances for admission.                              with the knowledge and
This white paper highlights notable findings from the Veritas Prep           insight to improve their
Survey of MBA Admissions Officers, an eight-week online survey
conducted during the 2008-09 admissions cycle among the top                  chances for admission.”
30 business schools in the United States, according to bi-annual
rankings compiled by BusinessWeek. Based on responses from
admissions officers at over half of the top 30 business schools
nationwide, the survey sought to glean current trends in the ap-
plication process. The result is an enlightening snapshot of where
the MBA admissions landscape is currently, and where it is likely
headed in the next five years.

                                                                www.veritasprep.com                          1
Student Applications
                                                The MBA application process at top 30 U.S. business schools can
                                                be a complex and arduous exercise. Today, business schools re-
                                                ceive more applications than ever before for the same number of
                                                available seats, and the applicant demographic is shifting younger
                                                as applicants try to outmaneuver one another for an advantage in
                                                the process. In this dynamic landscape, applicants are urged to
                                                avoid common mistakes that irk admissions officers and jeopar-
                                                dize their chances of admission.

                                                • Careless errors (81%) ranked as the top faux pas com-
                                                  mitted by applicants. Inconsistency between institution-
                                                  al choice and students’ educational objectives and ambi-
                                                  tions ranked second, and the inclusion of unrequested
                                                  items and inappropriate inter view 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 num-
                                                  ber of admits straight out of college has significantly or
                   “As admissions                 moderately increased compared to five years ago.
            competition continues
       to grow at top U.S. business             How to Use It to Your Advantage
                                                The volume of MBA applications continues to rise and shift to-
            schools, quality rather             ward a younger demographic, reflected by a push at many top
                                                business schools to attract younger applicants through initiatives
       than quantity may be what                like Harvard Business School’s 2+2 program. Interestingly, nearly
                                                half of MBA admissions officers report that they would not prefer
      admissions officers are most              a larger applicant pool, suggesting that applicant quality is more
                                                important than sheer quantity. As admissions competition contin-
    concerned about when it comes               ues to grow at top U.S. business schools, quality rather than quan-
                                                tity may be what admissions officers are most concerned about
         to attracting applicants.”             when it comes to attracting applicants.

                                                In a dynamic admissions landscape, one of the primary drivers
                                                of admissions success is static and unchanging—an effective,
                                                error-free application. While it may seem rudimentary, applicants
                                                are encouraged to thoroughly proofread their applications for
                                                careless errors and enlist trusted friends, family, colleagues or a
                                                skilled admissions consultant to do the same to avoid the number
                                                one most common application faux pas. Applicants also need to
                                                resist the temptation to copy and paste material from one appli-
                                                cation to another, or to decide that an essay is “good enough.”
                                                Misspellings, inaccurate uses of grammar or blatant inattention
                                                to posted directions—all of which can be perceived as signs of a
                                                lack of enthusiasm for a program or a lack of aptitude—can easily
                                                overshadow even the best of essays or resumes. An extra round
                                                of proofreading may be the difference between getting admitted
                                                to or rejected by a world-class MBA program.

2                              www.veritasprep.com
Student Evaluation Criteria
Admissions officers at top MBA programs evaluate applicants on
a wide scope of characteristics from GMAT score to community
service to professional experience. In many cases, candidates will
enlist the help of an admissions consultant for guidance in creating
the very best application possible, highlighting their strengths in
key areas and positioning themselves as viable prospects.

• The importance of analytical skills (50%) ranked ahead of
  leadership (19%) in student selection.

               Relative Importance of
           Student Selection Characteristics

                            25%
                       Interpersonal Skills

                   6% Maturity
                                              50%
                       19%                    Analytical Skills                         “The importance of
                       Leadership
                                                                                        institutional priorities in
                                                                                        the admission process is a
• Professional experience (63%) is the most important fac-                              significant cue for applicants
  tor in student selection. Community ser vice (6%), which
  traditionally ranks high, is reportedly the least important                           that the school’s needs
  selection criterion.
                                                                                        matter as much in the
      Least Important and Most Important                                                admissions process as do the
            Student Selection Criteria                                                  applicants’ needs.”
                                          Professional Experience

                                         Standardized
                                         Test Scores

                   Extracurricular
                        Activities
                       Community
                          Service

    Least Important                                       Most Important

                                                                           www.veritasprep.com                           3
• Seventy percent of admissions officers feel that admis-
                                          sions 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 pri-
                                          orities and enrollment goals are more important than or
                                          as important as an individual applicant’s merit.

                                        How to Use It to Your Advantage
                                        The importance of institutional priorities in the admission process
                                        is a significant cue for applicants that the school’s needs matter as
                                        much in the admissions process as do the applicants’ needs. For
                                        example, a school that has committed itself to increasing classroom
                                        diversity may pass on an otherwise strong applicant if the applicant
                                        comes from a professional background that is already well repre-
                                        sented in the entering class. Therefore, it is crucial for applicants to
                                        clarify their career goals and identify programs with which they fit
                                        best. This requires that applicants perform a great deal of introspec-
                                        tion to determine what they really want from an MBA program. It
                                        also requires a great deal of research, so that applicants know what
                                        exactly each business school has to offer.
        “Admissions officers            From previous research, Veritas Prep has found that MBA admis-
                                        sions officers consistently look for four traits that have shown to be
    look for applicants who             predictive of an applicant’s success in the business school classroom
                                        and beyond. While schools differ in how much emphasis they place
    display leadership in all           on each dimension, demonstrating leadership, innovation, teamwork
                                        and maturity are essential to suc­cess in the business school applica-
       aspects of their lives‚

                                        1
                                        tion process.

        not just on the job.”
                                                       Leadership
                                                       Admissions officers look for applicants who display
                                                       leadership in all aspects of their lives‚ not just on the
                                                       job. Successful candidates demonstrate leadership in
                                                       both their professional and personal lives. Stating a
                                                       tendency toward leadership is meaningless unless
                                                       supported by specific examples. A helpful exercise to
                                                       identify leadership situations involves posing a self-
                                        directed question: “What are some positive happenings that would
                                        not have occurred if I had not been a part of the process?” Even if
                                        examples are seemingly mundane—such as identifying a cost-sav-
                                        ings opportunity at work or helping a new colleague navigate his or
                                        her assignments—admissions officers will recognize them as signs
                                        of leadership potential.

4                         www.veritasprep.com
2
               Innovation
               “Innovation” refers to both traditional intellectual
               ability and creativity. Naturally, the former is re-
               flected in the hard statistics submitted in the appli-
               cation, including GMAT scores and undergraduate
               GPA. Applicants who wish to increase their academic
               attractiveness should enroll in a reputable GMAT
               prep course to attain a competitive score, and should
enroll in a quantitative course at their local college to demonstrate
the appropriate discipline and intellect to do well in such a course at
the graduate level.

MBA admissions officers also want to see evidence of creativity in an
applicant’s background. In the traditional sense, “creativity” suggests
musical talent or other artistic abilities, attributes that can certainly
set an applicant apart from the competition. However, admissions of-
ficers also look for evidence of creativity in the business sense; in

3
other words, the ability to look at old problems in new ways.

               Teamwork

                While some people still have the vision of sharp-
                elbowed sharks in the typical business school class-               “Applicants should identify
                room, the reality is that a team-oriented attitude and
                the ability to work well in groups are now baseline ex-            themselves as unique and
                pectations of every applicant. Basic social skills and
                a willingness to share successes and take account-                 stress how their contribution
                ability for failures are skills that make a candidate at-
tractive to an admissions committee, even at schools that do not rely              to the business school setting
heavily on team-based projects. Highlighting teamwork abilities in
the application might manifest through referencing instances when                  will be distinctive, embrac-
objectives were achieved through working together with colleagues
or demonstrating understanding of group dynamics. Especially im-                   ing points of difference as
portant for younger candidates, referencing experiences that high-
light collaboration skills can prove tremendously effective if they                opposed to burying them in

4
lack managerial experience.
                                                                                   admissions essays.”
               Maturity
                While the word “maturity” is often used interchange-
                ably with “age” and “experience,” admissions of-
                ficers value quality over quantity when it comes to
                experience. One of the most rewarding aspects of
                the business school experience is that students teach
                one another based on their respective backgrounds.
                Therefore, admissions committees look for mature
candidates who have something to teach their peers, but are also
willing to learn from them as well.

Another crucial facet of maturity is integrity. MBA admissions of-
ficers expect applicants to be mindful of ethical considerations and
are interested to examine how they operate in the moral grey areas.
Questions posed in essays and interviews will often be about ethical
decision-making in the face of difficult choices. Demonstrating depth
of thought and a willingness to make tough decisions is a great way
to showcase maturity.

                                                                     www.veritasprep.com                            5
What Admissions Officers Want
                                           Among the various challenges that plague admissions committees
                                           at leading schools, creating classes consisting of diverse, qualified
                                           students is an issue of primary concern. In fact, almost half of ad-
                                           missions officers predict the application process will evolve over the
                                           coming cycles to identify ideal candidates and yield improved admis-
                                           sions outcomes.

                                           • The biggest challenges institutions face are attracting more
                                             highly-qualified students (33%) and supporting cultural
                                             diversity (33%).

                                             Challenges Facing Admissions Departments
                                                      at Top Business Schools

                                                                                26%
                                                                                 Other
                                                               8% Increasing
                                                              student preparedness
                                                                                               33%
                                                                                            Attracting more
                                                                                            highly-qualified
                                                                                               students
           “Admissions officers                                             33%
                                                                      Supporting cultural
                                                                          diversity
           would like to see the
    student application process
    include more face-to-face or           • Among desired changes that admissions officers would like to
                                             see in their applicant pool, diversity ranks number one (87%).
        telephone interviews in
            the next five years.”          • Admissions officers would like to see the student applica-
                                             tion process include more face-to-face or telephone inter-
                                             views in the next five years (60%). While a slight majority
                                             of admissions officers see the application process becom-
                                             ing less complex, almost half (47%) believe the application
                                             process will actually become more complex in the coming
                                             years.
                                           How to Use It to Your Advantage
                                           Fostering a greater diversity of viewpoints in the executive suite is a
                                           strategic priority in business, and accordingly, cultivating diversity in
                                           each entering class is a key priority for business schools. Students
                                           hailing from a variety of backgrounds and circumstances create a
                                           vibrant learning environment and reflect the makeup of today’s busi-
                                           ness world.

                                           The term “diversity” is a bit cliché in the 21st century, the traditional
                                           concept of which typically alludes solely to differences in gender or
                                           race. Today’s notion of diversity, however, transcends sex and eth-
                                           nic origin to encompass a variety of other characteristics that yield a
                                           variety of viewpoints and experiences and can differentiate students
                                           in the crowded field of similar-looking MBA applicants.

6                            www.veritasprep.com
Applicants should identify themselves as unique and stress how
their contribution to the business school setting will be distinctive,
embracing points of difference as opposed to burying them in ad-
missions essays. After all, the very things that make them different
could be what scores them a seat in a desirable MBA program.

Additionally, applicants should prepare themselves to adapt to
changes in the dynamic MBA admissions process. While there is
generally a lack of consensus among admissions officers as to what
exactly those changes will entail, they agree on one aspect—more
interviews. As the applicant pool continues to get stronger every
year, business school admissions officers need more powerful
mechanisms to separate the great candidates from the good can-
didates, and interviews are an ideal instrument through which to
do so. The purpose of an interview is not to see how well applicants
act under pressure or to try or trick them into revealing something
unfavorable about themselves; rather, interviews present a way to
reinforce the components of the application, helping the admissions
committee put a face and personality to the application.

The beauty of the business school interview is that applicants are
the foremost experts themselves—they know why they have made
the decisions that have led them to applying to an MBA program,
what their unique strengths are and where they want to go next in
their careers. The challenge, however, is figuring out how to best
communicate this information to the interviewer and eloquently tell
stories from the past that best illustrate the applicant’s abilities de-
spite time constraints.

While every school looks for slightly different attributes in its appli-
cants, admissions officers will generally use the interview to answer
a few key questions about prospective students:

• Are they who they say they are in their

                                                                    www.veritasprep.com   7
The Emerging Role of Parents in
                                            the Student Application Process
                                            “Helicopter parent” behavior—the activities of mothers and fathers
                                            who are overly involved in their children’s admissions applications—
                                            has recently come to the attention of business school admissions of-
                                            ficers. As the millennial generation (those students born in or after
                                            1982) begins to apply to MBA programs, this trend is expected to
                                            accelerate.

                                            • Sixty-seven percent of admissions officers sur veyed said
                                              that parents are more involved in their children’s applica-
                                              tions than they were five years ago.

                                            How to Use It to Your Advantage
                                            While the intentions of over-involved helicopter parents are generally
                                            benevolent, such intervention can negatively impact their student’s
                                            chances of admission. Graduate school admissions officers are be-
                                            coming increasingly sensitive to how well an applicant has defined
                                            his or her career goals and reasons for wanting to attend business
                                            school separate from those of their parents, and when parents lead
                                            their child through the application process, this lack of introspec-
                                            tion often emerges in the applicant’s admissions essays or evaluative
            “While the intentions           interview.
       of over-involved helicopter          However, over-involved parents do not have to jeopardize admission
                                            for MBA applicants if they adhere to the core tenets of positioning
            parents are generally           oneself as serious candidates for admission at the leading U.S. busi-
                                            ness schools:
    benevolent, such intervention
                                            •    Understand the value of an MBA.
     can negatively impact their                 Admissions officers look closely for evidence that applicants
                                                 have really thought through their career goals and why an
                student’s chances                MBA is the right degree for them.

                   of admission.”           •    Be clear about the importance of pursuing an MBA now.
                                                 Applicants who can articulate why now is the time to pursue an
                                                 MBA, rather than in two or three years, have a distinct advantage.

                                            •    Highlight leadership experiences.
                                                 Younger applicants may not yet have led a team or managed oth-
                                                 ers, but successful applicants need to emphasize other instances
                                                 of leadership in their past, including on the job and in school.

                                            •    Demonstrate maturity.
                                                 Any successful applicant can show that they will be a posi-
                                                 tive addition to the classroom. For younger applicants, this is
                                                 especially important in demonstrating the emotional and profes-
                                                 sional maturity needed to be a good classmate and
                                                 project teammate.

                                            Since the majority of top 30 MBA programs have yet to implement
                                            programs to manage parents that are highly involved in the student
                                            application process, admissions consultants can help applicants man-
                                            age their helicopter parents by providing guidance on helpful versus
                                            hurtful interactions with schools and admissions departments.

8                              www.veritasprep.com
Conclusion
Despite the increased demand for graduate business education
stemming from the current economic slowdown and other contrib-
uting factors, the savvy business school applicant is in a unique po-
sition to secure a coveted seat in a leading MBA program through
some additional due diligence. Understanding what wows and irri-
tates admissions officers at leading business schools, and tailoring
the MBA application accordingly, can propel one’s candidacy from
unlikely to competitive.

Veritas Prep is committed to providing the latest research and ad-
missions trends to help prospective MBA students navigate the of-
ten complicated application process and secure admission into their
programs of choice. To access Veritas Prep’s full catalog of MBA ap-
plicant resources, visit www.veritasprep.com/mba/MBA_Resources.

                                                                 www.veritasprep.com   9
For more information, contact:

              Scott Shrum, Director of MBA Admissions Research

                                  Veritas Prep

                                (800) 925-7737

                            scott@veritasprep.com

To contribute your thoughts about business school admissions or learn more ways
   to improve your chances of admissions success, visit the Veritas Prep blog at
                         http://blog.veritasprep.com/.
You can also read