This is an open question for my readers: Does anyone know of any particularly good iBT TOEFL Speaking Section preparation courses? At least here in Japan, I have not received very favorable comments from my clients about the iBT TOEFL Speaking courses that are available in Tokyo (perhaps, I am unaware of a good one, I hope). If anyone has had good experiences with any form (live classes, one-to-one sessions, and/or internet-based) of iBT TOEFL Speaking test preparation available in any country, please email me at adammarkus@gmail.com.
-Adam Markus
アダム マーカス
April 05, 2008
April 03, 2008
School Selection: Higher Ranked Program or A Huge Scholarship?
See here for my other posts on school selection.
A reader of this blog poses the following problem: He has been admitted to both Chicago GSB and Indiana University Kelley MBA programs. Kelley is offering him a very huge scholarship that completely pays for his two year MBA. Chicago GSB is offering no scholarship. He wants to know where to go. Should he sacrifice his scholarship for Chicago GSB, his dream school, and get a free ride at a Kelley?
What is interesting here is my reader clearly prefers Chicago GSB, so it is not all a question of his personal preference, but rather a hard economic choice.
One core consideration is the average starting salary post-MBA at Chicago ("Adam's 98" ranked 6th) is $155,938 and at Indiana it is $105,547 (55th). There is a $55,391 salary differential in overall average market value between the two degrees. Your scholarship is great, but unless there is no significant difference in your likely post-MBA salary, it seems to me that in the short to medium run, Chicago GSB will be the better financial investment.
Have you plugged your numbers into the Businessweek ROI calculator or something similar? Assuming you have, what was the result? I think looking at it as objectively as possible would really help you decide. Since you have a finance background, my advice is actually to apply what you know to your own situation. Since I don't know your background in any detail or your goals, there maybe other factors that would be worth considering.
Beyond the more immediate economics of this, you really do need to consider the potential value of a Chicago pedigree (You might not be a school snob, but the guy/gal hiring you might be), the network, and given your field, Chicago's reputation in finance. Don't get me wrong, Kelley is a good school, but it is not Chicago GSB. Unless I had additional facts, stating otherwise, I would go into debt, go to Chicago, and treat it like the lifetime investment it is. Since, it is your dream to go there, even without the financial considerations, I think it is highly likely you would regret not going. You asked, so that is my answer.
Best of luck and congratulations on your killer results.
UPDATE: My reader has informed me that he is going to Chicago.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to. If you are planning to apply for an MBA, LL.M., Ph.D., or a Masters and would like to learn more about my consulting services, please visit http://adammarkus.com/. I offer a free initial consultation.
-Adam Markus
アダム マーカス
ビジネススクール 米国ロースクール 米国大学法学院 大学院入学
カウンセリング コンサルティング 大学院 合格対策 合格率
A reader of this blog poses the following problem: He has been admitted to both Chicago GSB and Indiana University Kelley MBA programs. Kelley is offering him a very huge scholarship that completely pays for his two year MBA. Chicago GSB is offering no scholarship. He wants to know where to go. Should he sacrifice his scholarship for Chicago GSB, his dream school, and get a free ride at a Kelley?
What is interesting here is my reader clearly prefers Chicago GSB, so it is not all a question of his personal preference, but rather a hard economic choice.
One core consideration is the average starting salary post-MBA at Chicago ("Adam's 98" ranked 6th) is $155,938 and at Indiana it is $105,547 (55th). There is a $55,391 salary differential in overall average market value between the two degrees. Your scholarship is great, but unless there is no significant difference in your likely post-MBA salary, it seems to me that in the short to medium run, Chicago GSB will be the better financial investment.
Have you plugged your numbers into the Businessweek ROI calculator or something similar? Assuming you have, what was the result? I think looking at it as objectively as possible would really help you decide. Since you have a finance background, my advice is actually to apply what you know to your own situation. Since I don't know your background in any detail or your goals, there maybe other factors that would be worth considering.
Beyond the more immediate economics of this, you really do need to consider the potential value of a Chicago pedigree (You might not be a school snob, but the guy/gal hiring you might be), the network, and given your field, Chicago's reputation in finance. Don't get me wrong, Kelley is a good school, but it is not Chicago GSB. Unless I had additional facts, stating otherwise, I would go into debt, go to Chicago, and treat it like the lifetime investment it is. Since, it is your dream to go there, even without the financial considerations, I think it is highly likely you would regret not going. You asked, so that is my answer.
Best of luck and congratulations on your killer results.
UPDATE: My reader has informed me that he is going to Chicago.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to. If you are planning to apply for an MBA, LL.M., Ph.D., or a Masters and would like to learn more about my consulting services, please visit http://adammarkus.com/. I offer a free initial consultation.
-Adam Markus
アダム マーカス
ビジネススクール 米国ロースクール 米国大学法学院 大学院入学
カウンセリング コンサルティング 大学院 合格対策 合格率
Labels:
Admissions Consulting,
application,
Graduate School,
LLM,
LLM留学,
MBA,
MBA留学,
School Selection,
大学院留学、
April 01, 2008
Changes at HBS for Fall 2009
For all my real posts on HBS, click here.
This is my April Fools' Day Post:
I have heard through an exclusive source that earlier this week, Harvard Business School has made the following changes to its requirements for Fall 2009 admission:
1. HBS will no longer admit applicants with any substantial work experience beyond part-time jobs. While not stating anything specifically about age requirements, it is pretty clear that HBS will no longer be admitting applicants over age 23. Of course, older applicants can continue to apply, but they will be rejected.
2. HBS will begin its "10 plus Zero Program," targeting promising 12 year olds. If accepted by HBS, they will be offered a personal mentoring system guaranteeing admission into the MBA program after completion of their bachelors degree. (I have heard a vague unsubstantiated rumor that Stanford GSB will begin a prenatal admissions program, but only for legacy applicants.)
3. HBS will require that all applicants make full use of application re-writing services to insure that applicants provide essays of uniform quality so that differences in applicant background can be used as the basis for admission.
4. Those with GMATs over 740 need not apply because HBS has determined that leaders should not be brilliant.
For those of you who are over 12 years old and college graduates with work experience, you can still buy the Harvard Business Review or better yet, read most of it for free online. While there is a rumor that HBR will be launching a new animated cartoon in partnership with Marvel Comics, I could not get anyone to comment on it.
Other exciting news from HBS: Upon his retirement from the Office of the President of United States of America, George Bush (HBS, Class of 1975), will become HBS's first Honorary Professor of Leadership Failure. Also a Financial Failure Institute will be established with former Bear Stearns CEO James Cayne serving as its Executive Director and Bridge Master.
I hope you have a happy April.
-Mada Sukram
おかしな話
This is my April Fools' Day Post:
I have heard through an exclusive source that earlier this week, Harvard Business School has made the following changes to its requirements for Fall 2009 admission:
1. HBS will no longer admit applicants with any substantial work experience beyond part-time jobs. While not stating anything specifically about age requirements, it is pretty clear that HBS will no longer be admitting applicants over age 23. Of course, older applicants can continue to apply, but they will be rejected.
2. HBS will begin its "10 plus Zero Program," targeting promising 12 year olds. If accepted by HBS, they will be offered a personal mentoring system guaranteeing admission into the MBA program after completion of their bachelors degree. (I have heard a vague unsubstantiated rumor that Stanford GSB will begin a prenatal admissions program, but only for legacy applicants.)
3. HBS will require that all applicants make full use of application re-writing services to insure that applicants provide essays of uniform quality so that differences in applicant background can be used as the basis for admission.
4. Those with GMATs over 740 need not apply because HBS has determined that leaders should not be brilliant.
For those of you who are over 12 years old and college graduates with work experience, you can still buy the Harvard Business Review or better yet, read most of it for free online. While there is a rumor that HBR will be launching a new animated cartoon in partnership with Marvel Comics, I could not get anyone to comment on it.
Other exciting news from HBS: Upon his retirement from the Office of the President of United States of America, George Bush (HBS, Class of 1975), will become HBS's first Honorary Professor of Leadership Failure. Also a Financial Failure Institute will be established with former Bear Stearns CEO James Cayne serving as its Executive Director and Bridge Master.
I hope you have a happy April.
-Mada Sukram
おかしな話
March 24, 2008
Winning the Graduate Admissions Game Presentation
On April 6, 2008 at 6:30pm, I made a presentation, “Winning the Graduate Admissions Game,” at Good Day Books in Ebisu, Tokyo.
My presentation focused on how MBA applicants should develop a winning strategy for playing the graduate admissions game on their own terms. I want to thank everyone who came.
-Adam Markus
アダム マーカス
MBA留学、LLM留学、大学院留学
My presentation focused on how MBA applicants should develop a winning strategy for playing the graduate admissions game on their own terms. I want to thank everyone who came.
-Adam Markus
アダム マーカス
MBA留学、LLM留学、大学院留学
March 21, 2008
School Selection: Paying for It
This is the third in series of posts on school selection for both those in the process of selecting where to apply to and those deciding where to attend. The first post is here. The second post is here.
How I can pay for tuition and all related costs? Except for the rich, the cost of education is always a consideration. You will need to figure this out for any school you attend, so look carefully to see what you will actually need, what you can borrow, and what kind of scholarships might be available. Don't be afraid to ask admissions questions about this because it is too important a topic to guess about.
For those who have now been accepted to one or more schools, it is time to start paying! If you are making a decision about which program to attend, finances are likely a critical consideration for you. Now is the time to figure out exactly how you will really pay for your graduate degree. Of course, you should have already figured this out before you applied, but you have not, you need do it now. Where you eventually decide to go may very well be the result of the calculations you make.
For those who are deciding where to apply to, you need to have a clear plan for how you will finance your education. Many applications will require that you state this, so you might as well do your homework at the initial stage. If you will be coming to the US as an international student, you will need to demonstrate that you have sufficient funds in order for the school to issue you an I-20 (the document you need to get a student visa). While much of your plan will likely be a function of your finances and those of your family, your plan might also rely upon support from the school or from loans.
What scholarships are available to me and how likely is it that I can get one? Depending on your background, financial need, academics, and GMAT, and the program you are applying to, schools have very different levels of funding available. If you are expecting to get scholarships, look closely at their availability when selecting schools.
The availability of part-time work, research assistantships, and teaching assistantships is another consideration. If you are an international student, your ability to work will greatly vary depending on where you go. The US has very stringent rules on part-time work for those on international student visas, so don't count on being able to work. For those pursuing Ph.D.s one primary source of funding would be a research or teaching assistantship, but the availability of such positions varies widely.
Loans: MBA programs often have great programs for all admitted applicants to obtain loans, but this is less often case with other types of degrees. Look at what will be available to you before you apply. If you are international student, depending on your situation, you may need to obtain loans in your country, so look into this before you apply.
ROI: Return on Investment. Simply calculating costs is not enough, you have to look at the return you can expect as well. It may very well make good financial sense to leave school with $100,000 in debt if the return justifies it. Regardless of what type of program you attend, you really do need to do some cost calculations so that you have a sense of what your graduate degree will be costing you and what kind of potential return you can expect from it. It is an investment of time, energy, and money, so make your decisions carefully. For more about ROI, see the Businessweek ROI calculator.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to. If you are planning to apply for an MBA, LL.M., Ph.D., or a Masters and would like to learn more about my consulting services, please visit http://adammarkus.com/. I offer a free initial consultation.
-Adam Markus
アダム マーカス
ビジネススクール 米国ロースクール 米国大学法学院 大学院入学
カウンセリング コンサルティング 大学院 合格対策 合格率
How I can pay for tuition and all related costs? Except for the rich, the cost of education is always a consideration. You will need to figure this out for any school you attend, so look carefully to see what you will actually need, what you can borrow, and what kind of scholarships might be available. Don't be afraid to ask admissions questions about this because it is too important a topic to guess about.
For those who have now been accepted to one or more schools, it is time to start paying! If you are making a decision about which program to attend, finances are likely a critical consideration for you. Now is the time to figure out exactly how you will really pay for your graduate degree. Of course, you should have already figured this out before you applied, but you have not, you need do it now. Where you eventually decide to go may very well be the result of the calculations you make.
For those who are deciding where to apply to, you need to have a clear plan for how you will finance your education. Many applications will require that you state this, so you might as well do your homework at the initial stage. If you will be coming to the US as an international student, you will need to demonstrate that you have sufficient funds in order for the school to issue you an I-20 (the document you need to get a student visa). While much of your plan will likely be a function of your finances and those of your family, your plan might also rely upon support from the school or from loans.
What scholarships are available to me and how likely is it that I can get one? Depending on your background, financial need, academics, and GMAT, and the program you are applying to, schools have very different levels of funding available. If you are expecting to get scholarships, look closely at their availability when selecting schools.
The availability of part-time work, research assistantships, and teaching assistantships is another consideration. If you are an international student, your ability to work will greatly vary depending on where you go. The US has very stringent rules on part-time work for those on international student visas, so don't count on being able to work. For those pursuing Ph.D.s one primary source of funding would be a research or teaching assistantship, but the availability of such positions varies widely.
Loans: MBA programs often have great programs for all admitted applicants to obtain loans, but this is less often case with other types of degrees. Look at what will be available to you before you apply. If you are international student, depending on your situation, you may need to obtain loans in your country, so look into this before you apply.
ROI: Return on Investment. Simply calculating costs is not enough, you have to look at the return you can expect as well. It may very well make good financial sense to leave school with $100,000 in debt if the return justifies it. Regardless of what type of program you attend, you really do need to do some cost calculations so that you have a sense of what your graduate degree will be costing you and what kind of potential return you can expect from it. It is an investment of time, energy, and money, so make your decisions carefully. For more about ROI, see the Businessweek ROI calculator.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to. If you are planning to apply for an MBA, LL.M., Ph.D., or a Masters and would like to learn more about my consulting services, please visit http://adammarkus.com/. I offer a free initial consultation.
-Adam Markus
アダム マーカス
ビジネススクール 米国ロースクール 米国大学法学院 大学院入学
カウンセリング コンサルティング 大学院 合格対策 合格率
Labels:
Admissions Consulting,
application,
Graduate School,
LLM,
LLM留学,
MBA,
MBA留学,
School Selection,
大学院留学、
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