GMAT MBA News
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Written by Take GMAT Team on November 12th, 2008 with no comments.
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April 27 (Bloomberg) — The University of Pennsylvania’s Wharton School, the U.S.’s oldest business college, has the best undergraduate business program in the nation, a new poll says.
Business Week magazine’s first poll of business programs offering bachelor’s degrees ranked University of Virginia’s program second, followed by University of Notre Dame in Indiana, Massachusetts Institute of Technology and Emory University in Atlanta.
University of Michigan’s undergraduate business program was ranked sixth, followed by New York University; Brigham Young University in Provo, Utah; University of Texas at Austin and Indiana University in Bloomington, according to the survey.
The poll marks the second time Wharton’s undergraduate program has been ranked the top business school in a national survey. U.S. News & World Report magazine selected Wharton, in Philadelphia, as the best undergraduate business program among U.S. colleges last year.
“They do just about everything right,” said Louis Lavelle, 45, Business Week’s associate editor in charge of the magazine’s business-school coverage. He spoke in a telephone interview today about Wharton. “The academic quality is off the charts.”
Two calls to Wharton spokeswoman Tracy Liebman seeking comment about Wharton’s top ranking in the survey weren’t immediately returned.
Top Degree Helps
Business Week, published by McGraw-Hill Cos., has ranked graduate schools of business since 1988, he said. A degree from a top-ranked school can help students in the job market, Lavelle said.
“Business schools aren’t giving up on the MBA, but they’re shifting their attention to the undergraduates,” Lavelle said. “One reason is that they’re cheaper, and undergraduates can be molded.”
Founded in 1881 as the first collegiate school of business in the U.S., Wharton has about 2,400 undergraduate students and 280 faculty, according to its Web site.
Among Wharton’s key strengths are its researchers and professors, a median annual starting salary of $55,000 last year for graduating seniors, and an 8.8-to-1 student/faculty ratio, Lavelle said.
Wharton ranked third in Business Week’s 2004 survey of best MBA programs behind top-ranked Northwestern University and University of Chicago.
`Doing it Right’
“You’ve got a lot of synergy — when you do it right as Wharton has — with a good doctoral program that attracts great faculty,” said David Wilson, president of the Graduate Management Admission Council which administers the GMAT test, in a telephone interview today. “That feeds into the master’s program, and bachelor’s-degree students benefit from that.”
The magazine conducted an online survey of students and schools beginning in November 2005, looking at a number of features including course work, students’ starting salaries, student-to-faculty ratio and job placement, Lavelle said.
Business Week asked about 100 business school programs in the U.S. to participate in the survey and 84 agreed to do so, Lavelle said. The magazine asked 100,000 business majors to rate their programs on features ranging from curriculum to grading policies, he said. About 22 percent of the students contacted responded to the poll, Lavelle said.
To contact the reporter on this story:
Patrick Cole in New York at? pcole3@bloomberg.net.(Source:bloomberg.com)
Written by Take GMAT Team on March 18th, 2007 with no comments.
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PITTSBURGH, Oct. 19 (AScribe Newswire) — Carnegie Mellon University’s Tepper School of Business, the nation’s No. 3 business school according to the 2006 Wall Street Journal/Harris Interactive poll of corporate recruiters, enrolled 137 new full-time MBA students this fall with an average Graduate Management Admission Test (GMAT) score of 696 out of a possible 800. The score reflects the fifth consecutive year of increasing test scores for the Tepper School’s incoming class.
Overall, 28 percent of Tepper students are international, with students from 25 countries in this year’s class compared to 21 last year. Women represent about one-fifth of Tepper’s entering class and underrepresented minorities (African Americans, Hispanic Americans and Native Americans) continued at about 10 percent.
About 92 percent of incoming students held full-time jobs before entering the MBA program, and the average number of years on the job held steady at just more than four years. Included among the incoming students are a neurosurgery resident, a member of the Peace Corps who worked in Cameroon, a patent examiner and a member of the U.S. Coast Guard.
“Tepper’s focus on the intersection of technology and business teaches future leaders of any background the analytical skills for solving complex problems in an interdisciplinary and collaborative environment. That experience develops the confidence to make an immediate and strategic impact on their organizations,” said John Mather, executive director of the Tepper School’s master’s programs.
This year also saw a large increase in enrollment in Tepper’s FlexTime program, offered to Pittsburgh-area students who want to earn their MBA while continuing to work. The FlexTime program has 68 new students this year compared to 55 last year - a 24 percent increase. In addition, 61 new students enrolled in Tepper’s corporate-sponsored FlexMode program, in which professors teach students at companies throughout the country via live video conferencing. Students receive the same MBA curriculum from the same instructors in each of the three methods of delivering the program (full-time, FlexTime and FlexMode).
Tepper’s innovative Master of Science in Computational Finance (MSCF) program - taught both at the Tepper School in Pittsburgh and in New York - welcomed 83 new students for 2006. The interdisciplinary MSCF degree is a 17-month program that draws its course content from four Carnegie Mellon colleges: the Mellon College of Science (math), the College of Humanities and Social Sciences (statistics), the H. John Heinz III School of Public Policy and Management (information technology), and the Tepper School (finance). Tepper also enrolled 20 new Ph.D. candidates, representing 10 countries. Of the new doctoral candidates, eight (40 percent) are women.
Enrollment in the Tepper School’s Bachelor of Science in Business Administration program numbers 82, representing eight different countries, with an average SAT score of 1360. About 43 percent are women.
Tepper is one of 27 U.S. schools to maintain membership in the Forte Foundation, which aims to increase the number of women in business by encouraging their admission into graduate business programs. It is also one of 13 U.S. schools that belong to the Consortium for Graduate Study in Management, a 40-year-old organization that promotes diversity and inclusion in American business.
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MBA FULL-TIME CLASS PROFILE: 2006, 2007, 2008
Class Size: 151, 165, 137
Women: 20 percent 22 percent 21 percent
Minorities (see note): 3 percent, 9 percent, 10 percent
International: 27 percent 30 percent 28.5 percent
Countries represented: 15, 21, 25
Average years of full-time professional experience: 4.3, 4.2, 4.3
Percent with full-time professional experience: 92.7 percent, 91.5 percent, 92 percent
(Note: The category “minorities” includes African American, Native American and Hispanic only.)
ACADEMIC BACKGROUND: 2006, 2007, 2008
Undergraduate GPA average: 3.3, 3.38, 3.4
3.5 or higher: 28 percent, 42 percent, 40 percent
3.0-3.49: 50 percent, 45 percent, 49 percent
2.5-2.99: 19 percent, 12 percent, 8 percent
2.49 or below: 3 percent, 1 percent, 3 percent
GMAT Average: 691, 692, 696
700 or higher: 47 percent, 53 percent, 56 percent
600-699: 52 percent, 45 percent, 43 percent
Less than 600: 1 percent, 2 percent, 1 percent
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ABOUT THE TEPPER SCHOOL OF BUSINESS
Founded in 1949, the Tepper School of Business at Carnegie Mellon (www.tepper.cmu.edu) is a pioneer in the field of management science and analytical decision-making. The school’s notable contributions to the intellectual community include six Nobel laureates and a consistent presence in the top tier of business school rankings. The Wall Street Journal recently ranked the Tepper School as the third-best business school in the United States.
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CONTACT: Geof Becker, Tepper media relations, 412-268-3486, gbecker@andrew.cmu.edu
(Source: ascribe.com )
Written by Take GMAT Team on October 20th, 2006 with no comments.
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The Admit Office’s Hate List
Excuses don’t cut it, say seasoned admissions officials. Here’s what not to say, from the folks who have heard it all
Whether it be gaps in your employment history, significant job-hopping, or a lower-than-you’d like GPA or GMAT score, many prospective B-schoolers have something in their applications that they worry doesn’t reflect their true abilities. Is the worry justified? Actually, say admissions counselors, yes. “If you think the admissions committee will question something, we probably will,” says Alison Merzel, co-director of MBA admissions at Ohio State’s Fisher College of Business].
You can try gloss over the shortcomings, or you can make excuses. Either way, you won’t win any points with B-schools admissions offices. Fortunately, most schools’ applications include an optional essay with an open-ended question like, “Is there any further information that you wish to provide to the Admissions Committee?” that’s designed so you can explain any mitigating factors behind the data. “The more information that we have about you, the better,” says Beth Flye, assistant dean and director of admissions and financial aid at Kellogg.
While some applicants might think that drawing extra attention to a problem could be a bad approach, admissions officers say addressing problems head-on—and demonstrating why you can succeed in spite of them—is a much better strategy than trying to hide behind them. “Don’t leave a gap in your application that would leave us wondering. Address it, and then move on,” says Christina Ballenger, co-director of MBA admissions at Ohio State.
But how you address the problem can make all the difference. In fact, admissions directors say MBA candidates sometimes go overboard trying to compensate for the weaknesses (or perceived weaknesses) in their applications. Here’s what they say are some of the most common tactics that backfire. (Source and complete article: http://www.businessweek.com )
Written by Take GMAT Team on August 23rd, 2006 with no comments.
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MCLEAN, Va., May 19 /PRNewswire/ — Newly minted MBAs are commanding significantly heftier salaries in 2006 than their counterparts did last year, with the average business school graduate’s starting base salary topping $92,000, according to new research from the Graduate Management Admission Council® (GMAC®).
Amid a healthy recruiting environment built on strong employer confidence in the economy, the average new MBA with a job offer in hand will earn $92,360 during their first year of employment, up 4.2 percent from the $88,626 graduates in 2005 received. Moreover, two-thirds of job offers to MBAs in 2006 come with signing bonuses that average $17,603, up slightly from last year.
“The MBA continues to demonstrate its strong value proposition,” said David A. Wilson, president and CEO of GMAC. “In a knowledge economy, leadership and management demand a complex portfolio of skills and talents. A selective MBA program gives its graduate those skills.”
In addition to earning bigger paychecks, more MBAs are finding jobs while still in school, continuing a multiyear upward trend. Fifty-two percent of respondents to the 2006 GMAC Global MBA® Graduate Survey said they had received or accepted a job offer before graduation, compared with 50 percent in 2005, 42 percent in 2004 and 36 percent in 2003.
The survey includes responses from 6,139 students at 147 business schools worldwide. A third of the respondents are citizens of countries other than the United States.
GMAC researchers also found that most MBA students feel their investment in business school was worthwhile. About two-thirds of respondents to the survey rated their degree as an outstanding or excellent value, and another 29 percent said it was a good value. Students revealed that they based their opinions about the value of their MBA on factors such as the quality of the curriculum, their ability to develop key skills and abilities, and the culture of the school they attended. Six percent of participants in the survey said they placed strong emphasis on the potential to increase their financial well- being when assessing their investment in graduate business education.
In addition, the survey found that MBA graduates are, on the whole, interested in the kinds of jobs that employers say they would like to fill. For example, nearly half of respondents said they hoped to land a midlevel position — the type of role for which recruiters say they are most likely to be hiring.
The greatest percentage of students said they are interested in working in the finance/accounting industry, followed by the products/services and consulting sectors. Respondents were least likely to express interest in entering the energy/utilities industry.
The Graduate Management Admission Council (http://www.gmac.com), based in McLean, Va., is a nonprofit education organization of leading graduate business schools worldwide dedicated to creating access to and disseminating information about graduate management education. GMAC annually surveys thousands of corporate recruiters, MBA students and business school alumni to gauge their feelings about the job market and collect other data. The organization also owns the Graduate Management Admission Test® (GMAT®), used by business schools around the world to assess applicants. The GMAT was created in 1954 and remains the first and only standardized test specifically designed for graduate business and management programs. ( Courtesy: biz.yahoo.com )
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Written by Take GMAT Team on May 20th, 2006 with no comments.
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