By: George Kesselman
Ivey MBA - May 2007 Cohort
The best way to look for an apartment in London is to try to get in touch with current MBA students that are going to be graduating at the same time as you are starting your MBA. Talking to current students doesn't hurt neither, as almost everybody knows where the good places to live are. London is not a large city by any stretch so I was a bit surprised to see the prices for some apartments on par with cities like Calgary. The average price for one bdr is $800/month + 20/month parking.
I found my apartment by joining Ivey MBA MSN Community http://groups.msn.com/IveyMBA. (NOTE: You have to be accepted into the Ivey MBA for the administrator to approve your request to join) Generally, students post apartment, furniture, and book sales on the board. Keep in mind that apartments do go fast. If you are lucky enough you might even get an apartment with a furniture passed on to you (for a bit extra).
About the third of the class lives in the Windermere Rd apartments which are very close to the new Ivey MBA campus (Spencer Leadership centre). NOTE: the new MBA Campus is separate from the main Ivey campus. A free shuttle bus runs between main campus and Spencer.
It might be also worth looking at different locations in the city, in case you are bringing a car: http://www.has.uwo.ca/housing/offcampus/index.htm apparently downtown might not be a bad option.
Saturday, March 31, 2007
Friday, March 30, 2007
Ivey MBA Information Session
by: George Kesselman
Ivey MBA - May 2007 Cohort
Both Ivey and Queens MBA offices started doing another smart thing this year. As we all know, big components of an MBA program are the quality of its content, the way that content is delivered to students, and the atmosphere of growth and innovation, nurtured by the school. At the same time, the academic content is one of the most tangible parts an MBA program, as the result it can be easily replicated. By simply using the same books, the same cases, and the same study materials, content becomes common between any two MBA programs. The real trick then becomes to figure out the best content delivery system and at the same time build a collaborative environment on campus. So what was it that Ivey and Queens MBA programs do differently?
Both schools started offering travel awards to potential students to come and visit them, sit in one of the classes, and talk to current students. Travel awards at Ivey for 2007 are 600$ for North American travel and $1,200 for those traveling from outside North America. It’s not much, but should at least provide an incentive to come and visit the school in person if it’s on your list of potential schools. The smart part about getting a potential student to come and visit an MBA program is the opportunity to let them experience the program first hand and at least get a snapshot view of a typical day at that school.
I would recommend visiting at least top three schools that you are considering. As I wrote in one of my previous postings, during a school visit to my number one choice at the time, it just didn’t feel right. I have also visited couple of schools in UK which helped me better understand the true value and advantages of one year MBA program. At the end, choosing an MBA is not that different from the game of dating: you have to find the right fit, but it also goes the other way around too in that you have to also be the right fit for your partner.
I really enjoyed my Ivey MBA Info session experience. It fully confirmed the preliminary research about the program. It was interesting to hear that both students and alumni were excited about Ivey MBA. I also had a chance to talk to couple of students in both the new one year MBA program and the last class of the two year MBA. It sounds like the job prospects for the new one year MBA program are turning out to be better than those for the last class graduating from the two year MBA. (Students in the one year MBA program are getting offers earlier in the year).
The day before the information session, we were sent a case study that outlined challenges that a company was facing through its growth period. The information session day started at 10:15am at Spencer Leadership Centre. We were greeted by the MBA program director. He talked about the exciting changes that the MBA program is undergoing and then opened the floor to questions. I would say there were about 35 potential students at the info session. After the program director, we had a chance to get our questions answered by two Profs: Strategy and Leadership. They gave up a quick summary of the case based teaching style and the types of material presented in class. After the session with professors we were given the tour of the building and then came lunch. Following lunch we had a Q&A session with current students that covered everything from how the like the program to how do you do your MBA if you have a husband and kids at home? It was a very positive session with students sharing their thoughts about the Ivey MBA program. Following the session with current students we invited for the highlight of our visit: an actual Ivey MBA class. We came into class, mixed with current students and sat down in anticipation.
The first couple of minutes were taken by one of the students talking about his 3x3 session with investment bankers the week before (three students and three investment bankers talking about their experience during specially arranged dinner meeting). After the student’s quick presentation we jumped into the case and started discussing the details with professor shooting questions at the class trying to lead the learning process towards the answer. It was really interesting to see how the discussion started to unravel. All of the students had their financial analysis results based on the metric analysis of the company from the financial data that was included in the case. The whole class was very interactive with very little lecturing from professor. It looked as if the professor was playing a role of a facilitator instead, helping students to come to the decision themselves rather then telling them the solution.
The information day concluded with the career services session. We’ve talked about career prospective and the strengths of Ivey career management team.
Ivey MBA - May 2007 Cohort
Both Ivey and Queens MBA offices started doing another smart thing this year. As we all know, big components of an MBA program are the quality of its content, the way that content is delivered to students, and the atmosphere of growth and innovation, nurtured by the school. At the same time, the academic content is one of the most tangible parts an MBA program, as the result it can be easily replicated. By simply using the same books, the same cases, and the same study materials, content becomes common between any two MBA programs. The real trick then becomes to figure out the best content delivery system and at the same time build a collaborative environment on campus. So what was it that Ivey and Queens MBA programs do differently?
Both schools started offering travel awards to potential students to come and visit them, sit in one of the classes, and talk to current students. Travel awards at Ivey for 2007 are 600$ for North American travel and $1,200 for those traveling from outside North America. It’s not much, but should at least provide an incentive to come and visit the school in person if it’s on your list of potential schools. The smart part about getting a potential student to come and visit an MBA program is the opportunity to let them experience the program first hand and at least get a snapshot view of a typical day at that school.
I would recommend visiting at least top three schools that you are considering. As I wrote in one of my previous postings, during a school visit to my number one choice at the time, it just didn’t feel right. I have also visited couple of schools in UK which helped me better understand the true value and advantages of one year MBA program. At the end, choosing an MBA is not that different from the game of dating: you have to find the right fit, but it also goes the other way around too in that you have to also be the right fit for your partner.
I really enjoyed my Ivey MBA Info session experience. It fully confirmed the preliminary research about the program. It was interesting to hear that both students and alumni were excited about Ivey MBA. I also had a chance to talk to couple of students in both the new one year MBA program and the last class of the two year MBA. It sounds like the job prospects for the new one year MBA program are turning out to be better than those for the last class graduating from the two year MBA. (Students in the one year MBA program are getting offers earlier in the year).
The day before the information session, we were sent a case study that outlined challenges that a company was facing through its growth period. The information session day started at 10:15am at Spencer Leadership Centre. We were greeted by the MBA program director. He talked about the exciting changes that the MBA program is undergoing and then opened the floor to questions. I would say there were about 35 potential students at the info session. After the program director, we had a chance to get our questions answered by two Profs: Strategy and Leadership. They gave up a quick summary of the case based teaching style and the types of material presented in class. After the session with professors we were given the tour of the building and then came lunch. Following lunch we had a Q&A session with current students that covered everything from how the like the program to how do you do your MBA if you have a husband and kids at home? It was a very positive session with students sharing their thoughts about the Ivey MBA program. Following the session with current students we invited for the highlight of our visit: an actual Ivey MBA class. We came into class, mixed with current students and sat down in anticipation.
The first couple of minutes were taken by one of the students talking about his 3x3 session with investment bankers the week before (three students and three investment bankers talking about their experience during specially arranged dinner meeting). After the student’s quick presentation we jumped into the case and started discussing the details with professor shooting questions at the class trying to lead the learning process towards the answer. It was really interesting to see how the discussion started to unravel. All of the students had their financial analysis results based on the metric analysis of the company from the financial data that was included in the case. The whole class was very interactive with very little lecturing from professor. It looked as if the professor was playing a role of a facilitator instead, helping students to come to the decision themselves rather then telling them the solution.
The information day concluded with the career services session. We’ve talked about career prospective and the strengths of Ivey career management team.
Wednesday, March 28, 2007
How to Succeed and Fail at Ivey...
Anonymous Alumni recollection:
Ivey taught me:
- stop being a passive observer
- become a creative active/action person
- stop blindly following others, letting others make the decisions
- actively design my own career and my career moves
How to FAIL:
- Listen much, speak little
- Let others do the talking in the learning team
- Socialize with friends not classmates
- Rely on Career Services alone to find you a job
- Do not take risks; speak only if you are absolutely sure
- Don't contact a professor if you do not understand the subject
- There is nothing to talk about in Accounting class; it is all #s
- Relax on Fridays; 15 cases a week is too many
How to SUCCEED AT IVEY:
- Participate in class
- Participate in class
- Participate in class
- Make a decision on the case issue
- Be prepared for each class
- Attend each class
- Participate in each class discussion
Ivey taught me:
- stop being a passive observer
- become a creative active/action person
- stop blindly following others, letting others make the decisions
- actively design my own career and my career moves
How to FAIL:
- Listen much, speak little
- Let others do the talking in the learning team
- Socialize with friends not classmates
- Rely on Career Services alone to find you a job
- Do not take risks; speak only if you are absolutely sure
- Don't contact a professor if you do not understand the subject
- There is nothing to talk about in Accounting class; it is all #s
- Relax on Fridays; 15 cases a week is too many
How to SUCCEED AT IVEY:
- Participate in class
- Participate in class
- Participate in class
- Make a decision on the case issue
- Be prepared for each class
- Attend each class
- Participate in each class discussion
Thursday, March 22, 2007
MBA book list
The Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power, and Politics of World Trade by Pietra Rivoli. By tracing the whereabouts of her $6 T-shirt from a West Texas cotton field to a Chinese factory to trade negotiations in Washington, D.C., to a used clothing market in Africa, Rivoli helps unravel the politics and human side of the globalization debate, say critics.
The Kite Runner by Khaled Hosseini. Hosseini's debut novel is billed as both political chronicle and deeply personal tale. It's the story of Amir, an Afghan immigrant to the U.S. who is plagued by guilt for betraying his best friend back home. When his friend is killed by the Taliban, Amir returns to his homeland, a country now in turmoil, to search for his friend's surviving son and make up for his past mistakes.
Tempered Radicals: How People Use Difference to Inspire Change at Work by Debra E. Meyerson. Meyerson reveals how "everyday leaders," not necessarily those at the top of an organization, help create family-friendly and socially responsible workplaces. She offers innovative examples that should help students get a bird's-eye view of leadership.
The End of Poverty: Economic Possibilities for Our Time by Jeffrey D. Sachs. By providing horrifying portraits of what life is like in the Third World, including one sketch of a Malawi village whose young people of working age have been completely wiped out by AIDS, Sachs calls readers to action. He presents his plan, which is based on 25 years of advising world leaders and international institutions, for eliminating poverty.
The Innovator's Dilemma by Clay Christensen. Provides an insightful analysis of the impact of technology on industries and organizations, and a convincing argument for why thinking outside the box is so critical.
When Genius Failed: The Rise and Fall of Long Term Capital Management by Roger Lowenstein. What appears to be a decisive error managing volatility of a portfolio of financial assets is reveled to be human factors in causing a breakdown of a management system under pressure. It could happen anywhere?
Industrial Organization: A Strategic Approach by Jeffrey Church and Roger Ware. In the past two decades there has been an explosion of high quality analysis of the organization of industries - the number and size of firms, rate of growth of firms, chronological change and the resulting competitiveness of markets. Find out what the experts know by reading this book. (For example, Chapter 16, Strategic Behavior: switching costs, vertical separation, tying, managerial incentives).
Modern Competitive Analysis by Sharon Oster. The application of strategy to obtain competitive advantage is carried to the higher level of sophistication in this Third Edition of a book widely used in strategy courses in the top twenty business schools. There is much subtlety in the understatement of winning strategies so that this book has to be read very closely.
Endurance by Alfred Lansing. An amazing but true action-adventure story, with powerful, often subtle lessons about leadership.
Long Walk to Freedom: The Autobiography of Nelson Mandela by Nelson Mandela. An inspiring story about leadership in the most difficult of circumstances. Nelson Mandela led the struggle against apartheid in South Africa from a prison cell. He had a long-term view, persisted against all odds, had a support system of colleagues and knew how to build coalitions, negotiated a settlement, and then, when he won and became President of South Africa, he forgave his enemies.
The Prince by Nicolo Machiavelli. An interesting insight into the dynamics of power. In addition to the technical side of business and the financial fundamentals taught in MBA programs, it is important to understand the forces that drive people in organizations. Decision-making is not always rational; it is sometimes, maybe even often, affected by executive egos and power struggles. Its enduring insights are relevant to the crisis in modern corporations today, because of the Enron collapse and subsequent revelations about financial missteps in other companies.
The Kite Runner by Khaled Hosseini. Hosseini's debut novel is billed as both political chronicle and deeply personal tale. It's the story of Amir, an Afghan immigrant to the U.S. who is plagued by guilt for betraying his best friend back home. When his friend is killed by the Taliban, Amir returns to his homeland, a country now in turmoil, to search for his friend's surviving son and make up for his past mistakes.
Tempered Radicals: How People Use Difference to Inspire Change at Work by Debra E. Meyerson. Meyerson reveals how "everyday leaders," not necessarily those at the top of an organization, help create family-friendly and socially responsible workplaces. She offers innovative examples that should help students get a bird's-eye view of leadership.
The End of Poverty: Economic Possibilities for Our Time by Jeffrey D. Sachs. By providing horrifying portraits of what life is like in the Third World, including one sketch of a Malawi village whose young people of working age have been completely wiped out by AIDS, Sachs calls readers to action. He presents his plan, which is based on 25 years of advising world leaders and international institutions, for eliminating poverty.
The Innovator's Dilemma by Clay Christensen. Provides an insightful analysis of the impact of technology on industries and organizations, and a convincing argument for why thinking outside the box is so critical.
When Genius Failed: The Rise and Fall of Long Term Capital Management by Roger Lowenstein. What appears to be a decisive error managing volatility of a portfolio of financial assets is reveled to be human factors in causing a breakdown of a management system under pressure. It could happen anywhere?
Industrial Organization: A Strategic Approach by Jeffrey Church and Roger Ware. In the past two decades there has been an explosion of high quality analysis of the organization of industries - the number and size of firms, rate of growth of firms, chronological change and the resulting competitiveness of markets. Find out what the experts know by reading this book. (For example, Chapter 16, Strategic Behavior: switching costs, vertical separation, tying, managerial incentives).
Modern Competitive Analysis by Sharon Oster. The application of strategy to obtain competitive advantage is carried to the higher level of sophistication in this Third Edition of a book widely used in strategy courses in the top twenty business schools. There is much subtlety in the understatement of winning strategies so that this book has to be read very closely.
Endurance by Alfred Lansing. An amazing but true action-adventure story, with powerful, often subtle lessons about leadership.
Long Walk to Freedom: The Autobiography of Nelson Mandela by Nelson Mandela. An inspiring story about leadership in the most difficult of circumstances. Nelson Mandela led the struggle against apartheid in South Africa from a prison cell. He had a long-term view, persisted against all odds, had a support system of colleagues and knew how to build coalitions, negotiated a settlement, and then, when he won and became President of South Africa, he forgave his enemies.
The Prince by Nicolo Machiavelli. An interesting insight into the dynamics of power. In addition to the technical side of business and the financial fundamentals taught in MBA programs, it is important to understand the forces that drive people in organizations. Decision-making is not always rational; it is sometimes, maybe even often, affected by executive egos and power struggles. Its enduring insights are relevant to the crisis in modern corporations today, because of the Enron collapse and subsequent revelations about financial missteps in other companies.
BW - Average Ivey MBA ROI:
Assumptions:
Pre-MBA salary: $48,000US
Work experience: 3 years
Pre-MBA employer size: fewer than 5,000
Undergraduate major: non-business
GMAT: 700
Career plan: Consulting
MBA School name: Western Ontario (Ivey)
ROI Results:
Investment (in $1,000s): 115.0
Salary Increase: 92.0%
Salary Increase (in $1,000s): 59.3
Breakeven (in years): 4.0
Annual ROI (10-year basis): 40.2%
Explanation of results:
Investment: An estimate of your total MBA costs, including tuition and lost income.
Salary Increase: The percentage or dollar change between your pre-MBA income and predicted post-MBA income.
Break-even: The estimated number of years, beginning from your entry into business school, that it would take at the new income level to make back the amount of money invested.
Annual ROI: The annual rate of return (over a 10-year period beginning the year you enter school) on your investment in the MBA, based on the projected salary increase of a typical student with your characteristics.
Note: US Dollars are used throughout the calculation
Pre-MBA salary: $48,000US
Work experience: 3 years
Pre-MBA employer size: fewer than 5,000
Undergraduate major: non-business
GMAT: 700
Career plan: Consulting
MBA School name: Western Ontario (Ivey)
ROI Results:
Investment (in $1,000s): 115.0
Salary Increase: 92.0%
Salary Increase (in $1,000s): 59.3
Breakeven (in years): 4.0
Annual ROI (10-year basis): 40.2%
Explanation of results:
Investment: An estimate of your total MBA costs, including tuition and lost income.
Salary Increase: The percentage or dollar change between your pre-MBA income and predicted post-MBA income.
Break-even: The estimated number of years, beginning from your entry into business school, that it would take at the new income level to make back the amount of money invested.
Annual ROI: The annual rate of return (over a 10-year period beginning the year you enter school) on your investment in the MBA, based on the projected salary increase of a typical student with your characteristics.
Note: US Dollars are used throughout the calculation
Friday, March 16, 2007
Successful Application Strategy: Idea #1
Letters of recommendation are a great tool for the admissions committee to hear about the leadership skills, people management, and team experiences that are key competencies for success in an MBA Program - so think carefully about who to ask! Use a professional reference - someone who knows you well and either managed or worked directly with you - these individuals can provide depth and detail demonstrating you have the qualities our admissions committee is looking for in a very convincing way. Last but not least - spend some time with your references explaining why you want to pursue an MBA. Ensuring they are invested in your decision and understand your motivation for applying to MBA Programs ultimately results in a strong message to the admissions committee.
Niki Healey
Manager MBA Recruitment
Richard Ivey School of Business
University of Western Ontario
Niki Healey
Manager MBA Recruitment
Richard Ivey School of Business
University of Western Ontario
Tuesday, March 6, 2007
Ivey MBA - Financing options
by: George Kesselman
Ivey MBA - May 2007 Cohort
During my visit to Oxford Saïd Business School I received a suggestion that I should try to finance my MBA by finding a sponsorship from my rich relatives. I decided to follow a more conventional approach by taking out student loans.
In Canada there are two types of student loans: Government students loans, which don't accrue interest charges during the course of the program, and student loans from private banks. The maximum amount for the government student loans (available only for Canadian residents) are about $330/week for the maximum of $17,200 per year. Which in itself is not much in the big scheme of things, considering the fact that I'm looking ahead to one expensive year ahead of me. However, private Banks come to the rescue and lend up to $70,000 covering majority of your tuition costs and some additional expenses.
To be absolutely honest, I was surprised to get an approval for the maximum line of credit from a bank two hours after submitting my online application. Considering the fact I don't have that much of a Canadian credit history I take it that banks feel pretty comfortable about the fact that we will make good money after an MBA.
There are four banks that provide special student loans to Ivey MBA students.
Toronto Dominion
Royal Bank of Canada
Bank of Montreal
Scotia Bank
All the loans have similar conditions. At this point they all offer a line of credit with an interest rate of Prime + 0.5 and interest only payments while you are in school.
Be careful to read the fine print, apparently RBC at one time adjusted the interest rate on their loans to Prime + 2% after students graduated from the program.
Talking to current students it sounds like TD student loans are by far the popular choice. One thing to keep in mind, if you enter an application online for the TD student loan, you might be directed to visit your local branch. At the local branch I was told that I will definitely need a co-signer. Considering the fact that I've been offered higher limit line of credit without a co-signer at Scotia Bank, I explained the situation and negotiated to take out the loan under the same conditions as were offered to me at Scotia.
Something else to consider: Average MBA entrance award at Ivey is $10,000, which is about 17% of the tuition cost. (you will receive all your scholarship awards with your acceptance letter).
From what I gather, International students will either require a Canadian co-signer or they will have to through The Paras Education Foundation (read more on Ivey Financing site).
NOTE: For the detailed information about Ivey MBA financing options please refer to the following document
On an unrelated to Ivey note, I also came across interesting student loan program at Rotman School of Business, which actually pays your student loan interest while you go to school.
Ivey MBA - May 2007 Cohort
During my visit to Oxford Saïd Business School I received a suggestion that I should try to finance my MBA by finding a sponsorship from my rich relatives. I decided to follow a more conventional approach by taking out student loans.
In Canada there are two types of student loans: Government students loans, which don't accrue interest charges during the course of the program, and student loans from private banks. The maximum amount for the government student loans (available only for Canadian residents) are about $330/week for the maximum of $17,200 per year. Which in itself is not much in the big scheme of things, considering the fact that I'm looking ahead to one expensive year ahead of me. However, private Banks come to the rescue and lend up to $70,000 covering majority of your tuition costs and some additional expenses.
To be absolutely honest, I was surprised to get an approval for the maximum line of credit from a bank two hours after submitting my online application. Considering the fact I don't have that much of a Canadian credit history I take it that banks feel pretty comfortable about the fact that we will make good money after an MBA.
There are four banks that provide special student loans to Ivey MBA students.
Toronto Dominion
Royal Bank of Canada
Bank of Montreal
Scotia Bank
All the loans have similar conditions. At this point they all offer a line of credit with an interest rate of Prime + 0.5 and interest only payments while you are in school.
Be careful to read the fine print, apparently RBC at one time adjusted the interest rate on their loans to Prime + 2% after students graduated from the program.
Talking to current students it sounds like TD student loans are by far the popular choice. One thing to keep in mind, if you enter an application online for the TD student loan, you might be directed to visit your local branch. At the local branch I was told that I will definitely need a co-signer. Considering the fact that I've been offered higher limit line of credit without a co-signer at Scotia Bank, I explained the situation and negotiated to take out the loan under the same conditions as were offered to me at Scotia.
Something else to consider: Average MBA entrance award at Ivey is $10,000, which is about 17% of the tuition cost. (you will receive all your scholarship awards with your acceptance letter).
From what I gather, International students will either require a Canadian co-signer or they will have to through The Paras Education Foundation (read more on Ivey Financing site).
NOTE: For the detailed information about Ivey MBA financing options please refer to the following document
On an unrelated to Ivey note, I also came across interesting student loan program at Rotman School of Business, which actually pays your student loan interest while you go to school.
Sunday, March 4, 2007
MBA Admissions Essays: THE ONE QUESTION ALL BUSINESS SCHOOLS ASK
by Avi Gordon, author of MBA Admissions Strategy: From Profile Building to Essay Writing
The key to getting the essays right is knowing what each question seeks – what the admissions committee expects from your response in each case, and what bonus information can legitimately be added. But schools each ask different questions. They appear different but if you look closely they are just variations on a few classics and the most common of all is the "Why an MBA?"
Question Examples
1. “Briefly assess your career progress to date. Elaborate on your future career plans and your motivation for pursuing a graduate degree at this Business School.”
2. “Think about the decisions you have made in your life. Describe the following: Past: What choices have you made that led you to your current position? Present: Why is a MBA necessary at this point in your life? Future: What is your desired position upon graduation from this Business School?”
3. “Why do you want to do an MBA at this Business School at this point in your life? What will you do if you are not offered a place on the this Business School MBA or any other MBA program?”
How to recognize this questionKeywords: progress, past, present, future, career, goal, plan, aspiration, ambition, decision, position, objective, aim, intention, purpose, life, short-term, long-term.
The underlying issue the committee is asking you to address Stripped of its verbiage this question always asks you: why do you need an MBA, why now, and why from us? Your response forms the backbone of your essay set and your whole application.
Notice that there are five parts to the question, covering three time periods:
• Past – What experiences have led you to this point and this ambition?• Present – Why an MBA right now, at this point in your career?• Future – What do you want to do with your degree, in the short and long term? • Why an MBA from this school particularly? • Why an MBA at all? (Why not another kind of Masters, or a PhD?)
You should touch on all five topics somewhere in your complete essay set, but be careful to answer this and all questions exactly as posed. If the question is broadly posed, as the first sample question above, all topics can be fully addressed. Notice, however, that the second question does not ask for long-term goals and the third question has a particular sub-question. In general, shape your “Why an MBA” answer carefully to whether the question asks more about your past (“What has led you to want an MBA?”) or about your future (“What will you do when you graduate? How will an MBA help you?”)
How to tackle itThis essay should be done in a clear and straightforward way. You can be creative in your answers to many other questions, but here it is too risky. Here the committee is looking above all for unequivocal evidence of your professional maturity, as shown by your clarity of purpose.
Show due diligence: The “Why an MBA” question is one of the best places to prove you have done your homework on the school, and to argue that there is a specific match between your agenda and what’s on offer. Mention the school’s features, courses, or extra-curricular opportunities, and say which are relevant to you and why.
Have definite goals: The admissions committee is looking for an organized career strategy that rests on solid self-understanding. They want to know why you have made the decisions you made, how they have brought you to this point in your life, and where you are going from here. Goals can include broader, non-career and personal or community aspirations – but your first priority is to establish a clear professional path.
Connect past to future: The committee is asking how your past connects to your future via business school. You must show that the MBA is the bridge between your yesterday and your tomorrow. Paint a picture of a future that rests naturally on your past, assuming the MBA from the school in question. Past, present and future can be described in any order. What works will depend on the details of your situation.
A generally versatile template is:
• Start with your direct goal on graduation
• Give a sense of your long-term (major) goals
• Show why an MBA is relevant to these goals, and why now
• Bolster this with what in your past has led you to this point
• Finish with the particular aspects of the target school that are relevant and attractive, given your stated goals.
Communicating future aspirationsa. Dream and be real: You have to walk a fine line here. On the one hand you must think big. Whether you want to manage a billion dollars, or create new brain technology industries – whatever it is, you should communicate high aspirations and a potential career worthy of an MBA graduate in 20 years time. On the other hand you must demonstrate career-path realism: your dreams will take a lifetime to mature, and even then they may not. You should sound like you understand how careers evolve in your field and the ways you might have to “do your time” (even if highly paid) before you become a true titan of your industry.
b. Show first steps: Show that you have already taken steps towards the goal you claim to aspire to. Have you done the certifications you need for your career move? Do you have a plan for attracting investors to the business you hope to set up? Convince the committee that you will make it happen no matter what – even if you don’t get into their school, or any school.
c. Have a worthwhile future: Faced with applicants who have equivalent grades and GMATs, the admissions committee will promote those who are on a unique, interesting, worthwhile career mission. So don’t hesitate to project yourself into valuable, distinctive roles.
d. Don’t hedge on your aspirations: Applicants sometimes say something like: “I want to go to Silicon Valley and create a startup using my knowledge of XPF-Bio data mining. If that doesn’t work out I may go back to my old job at a financial institution, or join the family business.” Admissions committees prefer to bet on candidates who have a single-minded focus and who will do anything (legal) to realize their dream. If you don’t back yourself 100 percent the committee won’t either.
e. Differentiate yourself: A common question is: “Should I include a family and kids in my stated life goals?” The problem in doing this is not that you will appear a less serious candidate if you want a family; it is that you will spend precious space talking about a very common goal. You benefit most by focusing your reader on the aspirations that set you apart.
The key to getting the essays right is knowing what each question seeks – what the admissions committee expects from your response in each case, and what bonus information can legitimately be added. But schools each ask different questions. They appear different but if you look closely they are just variations on a few classics and the most common of all is the "Why an MBA?"
Question Examples
1. “Briefly assess your career progress to date. Elaborate on your future career plans and your motivation for pursuing a graduate degree at this Business School.”
2. “Think about the decisions you have made in your life. Describe the following: Past: What choices have you made that led you to your current position? Present: Why is a MBA necessary at this point in your life? Future: What is your desired position upon graduation from this Business School?”
3. “Why do you want to do an MBA at this Business School at this point in your life? What will you do if you are not offered a place on the this Business School MBA or any other MBA program?”
How to recognize this questionKeywords: progress, past, present, future, career, goal, plan, aspiration, ambition, decision, position, objective, aim, intention, purpose, life, short-term, long-term.
The underlying issue the committee is asking you to address Stripped of its verbiage this question always asks you: why do you need an MBA, why now, and why from us? Your response forms the backbone of your essay set and your whole application.
Notice that there are five parts to the question, covering three time periods:
• Past – What experiences have led you to this point and this ambition?• Present – Why an MBA right now, at this point in your career?• Future – What do you want to do with your degree, in the short and long term? • Why an MBA from this school particularly? • Why an MBA at all? (Why not another kind of Masters, or a PhD?)
You should touch on all five topics somewhere in your complete essay set, but be careful to answer this and all questions exactly as posed. If the question is broadly posed, as the first sample question above, all topics can be fully addressed. Notice, however, that the second question does not ask for long-term goals and the third question has a particular sub-question. In general, shape your “Why an MBA” answer carefully to whether the question asks more about your past (“What has led you to want an MBA?”) or about your future (“What will you do when you graduate? How will an MBA help you?”)
How to tackle itThis essay should be done in a clear and straightforward way. You can be creative in your answers to many other questions, but here it is too risky. Here the committee is looking above all for unequivocal evidence of your professional maturity, as shown by your clarity of purpose.
Show due diligence: The “Why an MBA” question is one of the best places to prove you have done your homework on the school, and to argue that there is a specific match between your agenda and what’s on offer. Mention the school’s features, courses, or extra-curricular opportunities, and say which are relevant to you and why.
Have definite goals: The admissions committee is looking for an organized career strategy that rests on solid self-understanding. They want to know why you have made the decisions you made, how they have brought you to this point in your life, and where you are going from here. Goals can include broader, non-career and personal or community aspirations – but your first priority is to establish a clear professional path.
Connect past to future: The committee is asking how your past connects to your future via business school. You must show that the MBA is the bridge between your yesterday and your tomorrow. Paint a picture of a future that rests naturally on your past, assuming the MBA from the school in question. Past, present and future can be described in any order. What works will depend on the details of your situation.
A generally versatile template is:
• Start with your direct goal on graduation
• Give a sense of your long-term (major) goals
• Show why an MBA is relevant to these goals, and why now
• Bolster this with what in your past has led you to this point
• Finish with the particular aspects of the target school that are relevant and attractive, given your stated goals.
Communicating future aspirationsa. Dream and be real: You have to walk a fine line here. On the one hand you must think big. Whether you want to manage a billion dollars, or create new brain technology industries – whatever it is, you should communicate high aspirations and a potential career worthy of an MBA graduate in 20 years time. On the other hand you must demonstrate career-path realism: your dreams will take a lifetime to mature, and even then they may not. You should sound like you understand how careers evolve in your field and the ways you might have to “do your time” (even if highly paid) before you become a true titan of your industry.
b. Show first steps: Show that you have already taken steps towards the goal you claim to aspire to. Have you done the certifications you need for your career move? Do you have a plan for attracting investors to the business you hope to set up? Convince the committee that you will make it happen no matter what – even if you don’t get into their school, or any school.
c. Have a worthwhile future: Faced with applicants who have equivalent grades and GMATs, the admissions committee will promote those who are on a unique, interesting, worthwhile career mission. So don’t hesitate to project yourself into valuable, distinctive roles.
d. Don’t hedge on your aspirations: Applicants sometimes say something like: “I want to go to Silicon Valley and create a startup using my knowledge of XPF-Bio data mining. If that doesn’t work out I may go back to my old job at a financial institution, or join the family business.” Admissions committees prefer to bet on candidates who have a single-minded focus and who will do anything (legal) to realize their dream. If you don’t back yourself 100 percent the committee won’t either.
e. Differentiate yourself: A common question is: “Should I include a family and kids in my stated life goals?” The problem in doing this is not that you will appear a less serious candidate if you want a family; it is that you will spend precious space talking about a very common goal. You benefit most by focusing your reader on the aspirations that set you apart.
Saturday, March 3, 2007
Internship for Ivey MBAs
Here's one way to get around the lack of internship for the one year program. Below is the text of the email I received from the admissions office at Ivey. Advanced Placement Program with a well known consulting company offers you to postpone your enrolment from May to October and do a summer internship before you even start the program. I think that's a really good idea for those looking to switch industries and/or looking for more practical experience with their MBA. Ivey also offered to pay for the travel expenses associated with the trip to the info session and help in editing resume and cover letter (which I thought was really nice of them).
"Congratulations on your recent offer to join the Ivey MBA program!
I wanted to follow up with you to ensure you received and have had an opportunity to review the email that was sent out on behalf of Ivey and the [well known consulting company]. This email was to introduce you to a unique summer opportunity (Advanced Placement Program) that is available to students that have accepted their offers of admission for Ivey's full-time, 12 month MBA program.
To launch this program and to provide more information, the company is hosting an information session at ---, 2007 at Ivey's ING Leadership Centre in downtown
Interview process - Ivey MBA - University of Western Ontario
by: George Kesselman
Ivey MBA - May 2007 Cohort
Reading other MBA blogs and Journals I realized that some people find MBA Interviews one of the most painful parts of the admissions process. Based on that, I decided to expand a little bit on the interview process and the questions one can expect.
One of the most interesting things about the interview process at Ivey was the fact that there actually were two admissions interviews. First interview was conducted by a member of an admissions team and another by a member of career services. I was told that the main purpose for the second interview is to determine how employable you are going to be at the end of the program, and also to confirm that you have a clear career focus, which is especially important for one year MBA programs. I think that it's a really good idea and it is unfortunate that there few other school that go through the same rigorous process to select their students. One thing that for example surprised me about Schulich MBA at the University of York, Toronto was the fact that they've told right when I met them as long as I have the 660 GMAT I'm in, no interview no nothing... that's good and not so good at the same time. It guarantees you entry but doesn't provide any assurance that the caliber of your MBA classmates is going to be up to any standards. They might have been able to wing the GMAT but they have a limited practical experience and lack of communication skills, for example...
Both interviews at Ivey were over the phone and the first interview was with a Manager of Admissions. Since I was provided with her name ahead of time I was able to do a bit of research and find out that the lady actually taught some undergrad courses at the university level and was in her late 20s. Based on that information I put together couple of relevant questions that tied together her experiences teaching undergrad business courses as well as the MBA program. During the interview she asked me the usual questions about the resume and my essays. It felt like she spent some time reading through my background and had a pretty good handle on it. One of the most interesting questions that was addressed to me was modeled after the approach that the school is using to "cold call" students in class when talking about different challenging situation. In this particular case I was asked what are some of the biggest challenges that the industry I'm working in is facing and possible ways those could be addressed. This question makes sure that you can really think on your feet. I found that I had to stall the conversation for couple of seconds to summarize the answer in my head before presenting it, and the interviewer approved of my approach saying that it's OK to think about it for couple of seconds. Overall interview went well and it lasted exactly 30 minutes. I found it was very well structured with excellent and honest answers to the questions that I had in return: for example I've asked the interviewer why she did not go through the program herself, and her answer was that the Undergraduate HBA program at University of Western was fairly similarly structured to the old MBA program and that it did not make that much sense at the time :)
My second interview with a member of career services took place 3-4 days after the first one. This one felt more like a job interview based on the short-term career goals that I've outlined in my admissions essay. It was a lot of questions like: What were the main reasons you moved from this position to that, what were the main skills that you've learned in that particular job that you think would be most applicable to the field that you've chosen to pursue upon the graduation from the MBA program. I would say it was the easier of the two interviews. The interview lasted 30 min and included a question period during which I clarified the finer points about the differences in early placement between the students that are graduating from the last intake of the two year Ivey MBA program and the ones graduating from the first intake of the new one year Ivey MBA program. Again I was given excellent concise answers. And was told to expect the final decision within next 3-4 weeks.
Ivey MBA - May 2007 Cohort
Reading other MBA blogs and Journals I realized that some people find MBA Interviews one of the most painful parts of the admissions process. Based on that, I decided to expand a little bit on the interview process and the questions one can expect.
One of the most interesting things about the interview process at Ivey was the fact that there actually were two admissions interviews. First interview was conducted by a member of an admissions team and another by a member of career services. I was told that the main purpose for the second interview is to determine how employable you are going to be at the end of the program, and also to confirm that you have a clear career focus, which is especially important for one year MBA programs. I think that it's a really good idea and it is unfortunate that there few other school that go through the same rigorous process to select their students. One thing that for example surprised me about Schulich MBA at the University of York, Toronto was the fact that they've told right when I met them as long as I have the 660 GMAT I'm in, no interview no nothing... that's good and not so good at the same time. It guarantees you entry but doesn't provide any assurance that the caliber of your MBA classmates is going to be up to any standards. They might have been able to wing the GMAT but they have a limited practical experience and lack of communication skills, for example...
Both interviews at Ivey were over the phone and the first interview was with a Manager of Admissions. Since I was provided with her name ahead of time I was able to do a bit of research and find out that the lady actually taught some undergrad courses at the university level and was in her late 20s. Based on that information I put together couple of relevant questions that tied together her experiences teaching undergrad business courses as well as the MBA program. During the interview she asked me the usual questions about the resume and my essays. It felt like she spent some time reading through my background and had a pretty good handle on it. One of the most interesting questions that was addressed to me was modeled after the approach that the school is using to "cold call" students in class when talking about different challenging situation. In this particular case I was asked what are some of the biggest challenges that the industry I'm working in is facing and possible ways those could be addressed. This question makes sure that you can really think on your feet. I found that I had to stall the conversation for couple of seconds to summarize the answer in my head before presenting it, and the interviewer approved of my approach saying that it's OK to think about it for couple of seconds. Overall interview went well and it lasted exactly 30 minutes. I found it was very well structured with excellent and honest answers to the questions that I had in return: for example I've asked the interviewer why she did not go through the program herself, and her answer was that the Undergraduate HBA program at University of Western was fairly similarly structured to the old MBA program and that it did not make that much sense at the time :)
My second interview with a member of career services took place 3-4 days after the first one. This one felt more like a job interview based on the short-term career goals that I've outlined in my admissions essay. It was a lot of questions like: What were the main reasons you moved from this position to that, what were the main skills that you've learned in that particular job that you think would be most applicable to the field that you've chosen to pursue upon the graduation from the MBA program. I would say it was the easier of the two interviews. The interview lasted 30 min and included a question period during which I clarified the finer points about the differences in early placement between the students that are graduating from the last intake of the two year Ivey MBA program and the ones graduating from the first intake of the new one year Ivey MBA program. Again I was given excellent concise answers. And was told to expect the final decision within next 3-4 weeks.
Friday, March 2, 2007
Sample Ivey MBA Essay from '05
QUESTION: Describe the most significant lesson you have learned in your full-time employment and how this influenced your personal development and career aspirations
"Unity in Diversity" is the most important lesson that I have learnt while working in the [deleted]. The organization that I work for, [deleted], fabricates steel for building petrochemical plants, cement factories and refineries. It employs personnel from different countries all over the world. When I joined as a Sales Engineer, it was a challenge to work with people of diverse nationalities. I made the effort to learn about and understand the cultures of the people that I worked with, which helped me to foster better team spirit, as illustrated below.
In the steel fabrication business, a team is assigned the responsibility of executing a project. The team is lead by a Project Manager, who is supported by section heads who oversee the various sections of the project. For this particular instance, we were invited to submit a proposal for building certain sections of a cement plant. As we had almost no experience in this field, we hired industry experts as consultants to help us with designing and cost estimation.
After winning the contract, while setting-up the project it was discovered that there had been an error in the cost estimation. Due to the loss-making nature of the project, none of the Project Managers were interested in handling the project. It was a 'catch 22' situation as not accepting the contract would have meant bad publicity for the company, resulting in the company being blacklisted from future cement projects in the GCC. After analyzing the situation, I decided to accept the responsibility, even though I head the Sales Department and am not directly involved in project management.
Once I decided to take on the project, I called for a meeting with all the department heads. I requested their co-operation by assigning their best personnel to this project. I received their complete support and that of their personnel as a result of my personal rapport with each one of them. We worked as a team and despite many difficulties, managed to complete the project on time and in the specified cost. I encouraged my team throughout the year by often repeating one of my mottoes in life: "Tough times don't last, tough people do".
During the course of the project I improved my knowledge of Arabic (while dealing with the local authorities), handled a multi-cultural team, and successfully executed the first cement plant construction in the history of our organization. My management rewarded my success by promoting me to Project Sales Manager.
At a personal level, this project helped me to discover myself as a leader of men and someone who thrives on challenges. It enhanced my self-confidence, improved my communication skills, and elicited a much more analytical approach to tackling difficult situations, both in my personal and professional life.
In the future, I want to learn more about the turnkey construction industry. I wish to achieve this by joining a global organization, involved in building infrastructure in developing countries like mine i.e. India. I want to be involved in its management, rather than just executing a project. I feel that this would ensure my participation in the day to day running of the firm and help me to understand the fundamentals of running such a business. My interaction with people in the industry has revealed that the main motivation lies in the pleasure of building. My ultimate aim is to head such an organization, which employs creative people who help countries develop. When we built the cement plant it was like a dream come true, I felt immense pride at what we had created. This is the same feeling that I look forward to when I start and build my own business
"Unity in Diversity" is the most important lesson that I have learnt while working in the [deleted]. The organization that I work for, [deleted], fabricates steel for building petrochemical plants, cement factories and refineries. It employs personnel from different countries all over the world. When I joined as a Sales Engineer, it was a challenge to work with people of diverse nationalities. I made the effort to learn about and understand the cultures of the people that I worked with, which helped me to foster better team spirit, as illustrated below.
In the steel fabrication business, a team is assigned the responsibility of executing a project. The team is lead by a Project Manager, who is supported by section heads who oversee the various sections of the project. For this particular instance, we were invited to submit a proposal for building certain sections of a cement plant. As we had almost no experience in this field, we hired industry experts as consultants to help us with designing and cost estimation.
After winning the contract, while setting-up the project it was discovered that there had been an error in the cost estimation. Due to the loss-making nature of the project, none of the Project Managers were interested in handling the project. It was a 'catch 22' situation as not accepting the contract would have meant bad publicity for the company, resulting in the company being blacklisted from future cement projects in the GCC. After analyzing the situation, I decided to accept the responsibility, even though I head the Sales Department and am not directly involved in project management.
Once I decided to take on the project, I called for a meeting with all the department heads. I requested their co-operation by assigning their best personnel to this project. I received their complete support and that of their personnel as a result of my personal rapport with each one of them. We worked as a team and despite many difficulties, managed to complete the project on time and in the specified cost. I encouraged my team throughout the year by often repeating one of my mottoes in life: "Tough times don't last, tough people do".
During the course of the project I improved my knowledge of Arabic (while dealing with the local authorities), handled a multi-cultural team, and successfully executed the first cement plant construction in the history of our organization. My management rewarded my success by promoting me to Project Sales Manager.
At a personal level, this project helped me to discover myself as a leader of men and someone who thrives on challenges. It enhanced my self-confidence, improved my communication skills, and elicited a much more analytical approach to tackling difficult situations, both in my personal and professional life.
In the future, I want to learn more about the turnkey construction industry. I wish to achieve this by joining a global organization, involved in building infrastructure in developing countries like mine i.e. India. I want to be involved in its management, rather than just executing a project. I feel that this would ensure my participation in the day to day running of the firm and help me to understand the fundamentals of running such a business. My interaction with people in the industry has revealed that the main motivation lies in the pleasure of building. My ultimate aim is to head such an organization, which employs creative people who help countries develop. When we built the cement plant it was like a dream come true, I felt immense pride at what we had created. This is the same feeling that I look forward to when I start and build my own business
Thursday, March 1, 2007
Ivey - University of Western Ontario - Admissions time
NOTE: The text below describes admissions process for May 2007 Cohort
Having looked at different program types I realized that one year format was the one that I excited me the most. First of all, it will definitely be a challenge and I love challenges. Second, and even more important, it will save a year of my life, and a year of living expenses as a poor student. Even if it's not a full year, but lets say, 8 months, that's still close to 2% of average person's work life. Anyways, enough with the philosophy and on to the application process :)
After a thorough research of variety of MBA programs, having visited couple of them in-person, I narrowed my search to Ivey MBA. Being really impressed with the level of service I received from Admissions department at Ivey (20 min average response time to emails throughout the day, even at 11pm!), and also the feedback from current and past MBA students who were raving about the program, I decided that Ivey MBA just might be the one for me.
One of the most challenging parts of the whole application were the essays which told you to describe your short and long term career goals and how Ivey fits in those in UNDER 200 WORDS!!! That's like saying, well tell me your life story, past, current, and future, but I'd appreciate if you could do that in half a page. I personally, found it much harder than Schulich's 750 word essays in which you could add a lot of water to dilute the real content. At Ivey they wanted the concise "elevator pitch" style presentation of yourself. I must have gotten through at least 10 complete rewrites of those essays. But found it quite interesting non the less.
Originally I was aiming for the Jan 8th, 2007 deadline, however, I was told by Admissions that those deadlines are fairly artificial and it's typically a rolling admissions process. Moreover, the final decision should be expected 3-4 weeks after all the documentation has been submitted. Most of the application is filled and submitted online, apart from the two transcripts and the scholarship applications. A copy of your resume has to be emailed to admissions as well as your Referees has to submit their Reference letters electronically or paper directly to the admissions office.
Admissions office was helpful in providing status of my application and the receipt of the supporting documents. I got the invitation for the first of the two interviews with Admissions manager within three days of my last part of the application being received by Ivey. I received an invitation to the second interview, which was done with Career services staff member, about a week later. Both interviews were done over the phone and lasted 30 min each.
After the interviews comes the most painful part... you've done all you can and now it's just sit and wait for somebody else to decide your faith ;)
Having looked at different program types I realized that one year format was the one that I excited me the most. First of all, it will definitely be a challenge and I love challenges. Second, and even more important, it will save a year of my life, and a year of living expenses as a poor student. Even if it's not a full year, but lets say, 8 months, that's still close to 2% of average person's work life. Anyways, enough with the philosophy and on to the application process :)
After a thorough research of variety of MBA programs, having visited couple of them in-person, I narrowed my search to Ivey MBA. Being really impressed with the level of service I received from Admissions department at Ivey (20 min average response time to emails throughout the day, even at 11pm!), and also the feedback from current and past MBA students who were raving about the program, I decided that Ivey MBA just might be the one for me.
One of the most challenging parts of the whole application were the essays which told you to describe your short and long term career goals and how Ivey fits in those in UNDER 200 WORDS!!! That's like saying, well tell me your life story, past, current, and future, but I'd appreciate if you could do that in half a page. I personally, found it much harder than Schulich's 750 word essays in which you could add a lot of water to dilute the real content. At Ivey they wanted the concise "elevator pitch" style presentation of yourself. I must have gotten through at least 10 complete rewrites of those essays. But found it quite interesting non the less.
Originally I was aiming for the Jan 8th, 2007 deadline, however, I was told by Admissions that those deadlines are fairly artificial and it's typically a rolling admissions process. Moreover, the final decision should be expected 3-4 weeks after all the documentation has been submitted. Most of the application is filled and submitted online, apart from the two transcripts and the scholarship applications. A copy of your resume has to be emailed to admissions as well as your Referees has to submit their Reference letters electronically or paper directly to the admissions office.
Admissions office was helpful in providing status of my application and the receipt of the supporting documents. I got the invitation for the first of the two interviews with Admissions manager within three days of my last part of the application being received by Ivey. I received an invitation to the second interview, which was done with Career services staff member, about a week later. Both interviews were done over the phone and lasted 30 min each.
After the interviews comes the most painful part... you've done all you can and now it's just sit and wait for somebody else to decide your faith ;)
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