Well, the article "Credit crunch takes toll on student loans" in the FT makes for depressing reading:
Just when overseas MBA students thought it was practical to consider returning to US business schools, the credit crunch has begun to hit them hard. Aspiring overseas MBAs who plan to enrol on US programmes later this year are now facing real difficulties in securing the loans they need to study in the country.
Since the article does not provide any data on students who are unable to secure loans, it is hard to know exactly how serious the problem is. That said, it does state that 50 lenders nationwide have suspended their loan schemes. The article is largely based on an interview with Rose Martinelli at Chicago GSB, so to that extent I would consider it highly reliable.
Actually, given the high rate of interest that overseas students have to pay, it appears that international students would in many cases be much better off securing loans in their own country:
International students can expect to pay interest of about 7 per cent on their loans compared with about 4.5 per cent for domestic students in the US. MBA students need to budget for costs of about $150,000 to complete their programmes.
On the bright side, if you are coming from overseas, the cost of studying in the US is probably going down for you because of a weak US Dollar. This appears to be one reason for an increase in oversears applications to US schools. According to Rose Martinelli, this time quoted by CNBC:
"If your currency goes further because of the weak dollar, then it's a bargain to come to the United States. So we are seeing a lot of students coming to the United States because it's a good value, and" she joked, "MBA students are always value oriented."
The CNBC article suggests that while it might be cheaper to study at top schools, it is harder to get in because of an increased number of applications. But, of course, I think my readers know that latter fact.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to.
-Adam Markus
アダム マーカス
ビジネススクール カウンセリング コンサルティング MBA留学
July 15, 2008
July 10, 2008
Which MBA applications should I analyze?
Dear Readers,
Well, now that I have finished analyzing Columbia January Term (will do September Term later this month) Harvard and Stanford, over the next two months, I am planning to analyze the 2009 application questions for MIT, Wharton, Kellogg, NYU, UCB Haas, UCLA, LBS, IMD, INSEAD, Chicago GSB, Cornell, Tuck, Darden, and Duke. Are there any other schools that you would like me to cover? Please email me at adammarkus@gmail.com with your requests.
-Adam Markus
アダム マーカス
ビジネススクール カウンセリング コンサルティング 大学院 エッセイMBA留学
Well, now that I have finished analyzing Columbia January Term (will do September Term later this month) Harvard and Stanford, over the next two months, I am planning to analyze the 2009 application questions for MIT, Wharton, Kellogg, NYU, UCB Haas, UCLA, LBS, IMD, INSEAD, Chicago GSB, Cornell, Tuck, Darden, and Duke. Are there any other schools that you would like me to cover? Please email me at adammarkus@gmail.com with your requests.
-Adam Markus
アダム マーカス
ビジネススクール カウンセリング コンサルティング 大学院 エッセイMBA留学
Could any of the Scoretop VIP users be innocent?
UPDATED TO REFLECT THE COMMENT I RECEIVED. The update follows the original post.
ORIGINAL POST:
One question that has been at the center of the Scoretop story is whether any of the VIP users could have been innocent. I was curious to see how obvious it was that Scoretop was selling real GMAT questions. Luckily, the The Wayback Machine provided me the means to check the site before GMAC took it over. You can find all the old Scoretop pages here and judge for yourself.
The oldest archived version of the site that I found was October 28, 2004. On it you can find a bunch of GMAT questions, but it is not obvious that anything inappropriate is going on until you hit the forum (click on this if you want to see how it all worked). It is damning and worth a read. Anyone (SEE UPDATE BELOW FOR AMENDMENT TO THIS COMMENT)who joined knew they were getting real questions collected by test takers. They were clearly engaged in cheating. Actually, while, as I previously indicated, I think GMAC may have legal problems taking on these test cheats, I hope they do. It might be too late to do anything about those who have already graduated with MBAs, but I do hope the schools consider taking whatever action they can.
UPDATE:
I received an anonymous comment from someone who says he or she was a Scoretop VIP member and seemingly unaware that Scoretop was not involved in providing real test questions. Reading http://web.archive.org/web/20061230063431/www.scoretop.com/forum/forum_posts.asp?TID=12066&PN=1 , it certainly appears to be the case that Scoretop changed what it said it was selling. Whether that is the reality is another consideration which I lack the evidence to fully resolve.
Unfortunately, the Wayback Machine does not archive all web pages and certainly not what was in the VIP area, so I certainly can't say that users who purchased the service after Scoretop claimed that it changed were aware that cheating was going on. Therefore looking at such publicly archived pages once Scoretop no longer claimed to be providing real questions can't conclusively prove anything.
This certainly introduces a greater ambiguity into the intentions of Scoretop users who began using the service once it said it had changed. To that end, I will refrain from labeling such individuals as cheaters on the basis of what I can see on the website, but that label most certainly applies to users who were aware that Scoretop was providing real GMAT questions. I thank the anonymous commenter for bringing this to my attention.
Thus, to answer the question I initially posed, "Could any of the Scoretop VIP users be innocent?" I must conclude that while some are clearly not innocent, some might very well have been. As to this latter group, I simply don't have the evidence available to know. It should be enlightening to see what GMAC determines.
What do you think? Write comments or contact me directly at adammarkus@gmail.com.
-Adam Markus
アダム マーカス
ビジネススクール 留学 必須試験 GMAT
ORIGINAL POST:
One question that has been at the center of the Scoretop story is whether any of the VIP users could have been innocent. I was curious to see how obvious it was that Scoretop was selling real GMAT questions. Luckily, the The Wayback Machine provided me the means to check the site before GMAC took it over. You can find all the old Scoretop pages here and judge for yourself.
The oldest archived version of the site that I found was October 28, 2004. On it you can find a bunch of GMAT questions, but it is not obvious that anything inappropriate is going on until you hit the forum (click on this if you want to see how it all worked). It is damning and worth a read. Anyone (SEE UPDATE BELOW FOR AMENDMENT TO THIS COMMENT)who joined knew they were getting real questions collected by test takers. They were clearly engaged in cheating. Actually, while, as I previously indicated, I think GMAC may have legal problems taking on these test cheats, I hope they do. It might be too late to do anything about those who have already graduated with MBAs, but I do hope the schools consider taking whatever action they can.
UPDATE:
I received an anonymous comment from someone who says he or she was a Scoretop VIP member and seemingly unaware that Scoretop was not involved in providing real test questions. Reading http://web.archive.org/web/20061230063431/www.scoretop.com/forum/forum_posts.asp?TID=12066&PN=1 , it certainly appears to be the case that Scoretop changed what it said it was selling. Whether that is the reality is another consideration which I lack the evidence to fully resolve.
Unfortunately, the Wayback Machine does not archive all web pages and certainly not what was in the VIP area, so I certainly can't say that users who purchased the service after Scoretop claimed that it changed were aware that cheating was going on. Therefore looking at such publicly archived pages once Scoretop no longer claimed to be providing real questions can't conclusively prove anything.
This certainly introduces a greater ambiguity into the intentions of Scoretop users who began using the service once it said it had changed. To that end, I will refrain from labeling such individuals as cheaters on the basis of what I can see on the website, but that label most certainly applies to users who were aware that Scoretop was providing real GMAT questions. I thank the anonymous commenter for bringing this to my attention.
Thus, to answer the question I initially posed, "Could any of the Scoretop VIP users be innocent?" I must conclude that while some are clearly not innocent, some might very well have been. As to this latter group, I simply don't have the evidence available to know. It should be enlightening to see what GMAC determines.
What do you think? Write comments or contact me directly at adammarkus@gmail.com.
-Adam Markus
アダム マーカス
ビジネススクール 留学 必須試験 GMAT
July 09, 2008
Stanford GSB: Additional Info, Resume, Employment History, Activities
This is the fifth of five posts analyzing the Stanford GSB MBA Essay Questions for 2008/2009 Admission. The first post provides an overall perspective on applying to Stanford GSB. The second post is on Essay A. The third post is on Essay B. The forth post is on Essay C.
THINK ABOUT THE REST OF THE APPLICATION
There is nothing more depressing to me than to look at an MBA application that is hastily put together. Worse still if it is for a school that is hard to get into. Worse yet if it is for Stanford, where, under Derrick Bolton, there is a very rigorous approach to application review.
Some people look at application forms as mere forms. I look at them as opportunities to provide admissions with as complete and impressive presentation as one can. The reason admissions made the application was because they need the information to make a decision about you, so don't provide something that is done at the last minute.
RESUME & EMPLOYMENT HISTORY:
Employment History In this section of the online application, you have an opportunity to describe your full-time and part-time employment history, including your core responsibilities, your most significant challenges, and your greatest accomplishments.
We look for a diversity of employment activities in our student body, so no one industry or function is more important than another. As you approach your MBA application, keep in mind that we are more interested in the impact you have had in your work place than the name or stature of your organization. Have you made the most of your professional opportunities? Are you cultivating your leadership and team skills and making a difference? We look at your response in conjunction with your recommendations to create a broad picture of the impact you have had in your work environment(s).
If you have had more than one job, we also ask why you left your previous employer(s). Your response to this question will help us understand your career development and what has motivated your decision making. After completing the Employment History section, please upload a current copy of your resume.
Along with the essays, the resume and Employment History are the most critical documents that you control. Both should present you as effectively and honestly as possible. These two values are not in conflict: Be honest, be thorough, and do not be humble. You are being judged by your professional experience and this is where they get your complete record of it. If you have not done so, I suggest reading Steve Green's post on resumes.
TRANSCRIPTS
Last year at the Stanford presentation in Tokyo, Eric Abrams emphasized that the admissions committee closely reads transcripts. While you don't control the content at this point, you have the possibility of impacting how the transcript is interpreted. Scrutinize your own transcript. If your GPA is high, this is easy. You can relax. If on the other hand,your transcript reveals an unimpressive GPA, some very low grades, gaps in study, or anything else that concerns you, you had better figure out how to address in the Additional Information section (see below).
USE IT OR DON'T USE IT, BUT DON'T ABUSE IT:
Additional Information
If there is any other information that is critical for us to know and is not captured elsewhere, include it in this section of your application. Do not include additional essays.
Examples of pertinent additional information include:
If you really have no explanation for something negative, don't bother writing about it. For example if your GPA is 2.9 and you have no good explanation for why it is 2.9, don't bother writing something that looks like a lame excuse. This is more likely to hurt than help you. In the same vein, don't waste the committee's time telling them that your GMAT is a much better indicator than your GPA (the opposite is also true). They have heard it before and they will look at both scores and can draw their own conclusions without you stating the obvious. That said, if you have a good explanation for a bad GPA, you should most certainly write about it.
Activities
You have an opportunity to describe your extracurricular activities in your online application. This is an excellent way for us to understand your experiences and insights and to come to know you personally.
No club, community, or professional activity is more important than another.
With activities, a sustained depth of commitment in one or two activities may demonstrate your passion more than minimal participation in five or six organizations.
Please note that there are separate sections in the online application for you to report activities during and after university/college. Examples of activities in which you are/have been involved may include charitable, civic, community, and professional.
This section is important. Of course, some applicants will not have much here, while others will have a plethora of things to mention. In any case, provide the best answer you can. Use your judgment about what to include. The above instructions make it very clear that Stanford GSB is not looking for quantity. Give them quality and don't mention anything that will show your lack of commitment: If you joined a lot of organizations for a really short time and did nothing, I don't think that it will help you to mention it.
Finally, please keep in mind that there is no perfect applicant, just like there is no perfect human being. If you have had to work 100-plus hours a week since graduating from university and your idea of extracurricular activity is sleep, don't assume that not having any great activities will hurt you. Admissions will evaluate your whole application. I have had the opportunity to work with great applicants who were admitted to Stanford, and I can say none of them were perfect, but what they were able to do was present themselves as honestly and effectively as possible.
-Adam Markus
アダム マーカス
スタンフォード ビジネススクール カウンセリング コンサルティング 大学院 エッセイMBA留学
THINK ABOUT THE REST OF THE APPLICATION
There is nothing more depressing to me than to look at an MBA application that is hastily put together. Worse still if it is for a school that is hard to get into. Worse yet if it is for Stanford, where, under Derrick Bolton, there is a very rigorous approach to application review.
Some people look at application forms as mere forms. I look at them as opportunities to provide admissions with as complete and impressive presentation as one can. The reason admissions made the application was because they need the information to make a decision about you, so don't provide something that is done at the last minute.
RESUME & EMPLOYMENT HISTORY:
Employment History In this section of the online application, you have an opportunity to describe your full-time and part-time employment history, including your core responsibilities, your most significant challenges, and your greatest accomplishments.
We look for a diversity of employment activities in our student body, so no one industry or function is more important than another. As you approach your MBA application, keep in mind that we are more interested in the impact you have had in your work place than the name or stature of your organization. Have you made the most of your professional opportunities? Are you cultivating your leadership and team skills and making a difference? We look at your response in conjunction with your recommendations to create a broad picture of the impact you have had in your work environment(s).
If you have had more than one job, we also ask why you left your previous employer(s). Your response to this question will help us understand your career development and what has motivated your decision making. After completing the Employment History section, please upload a current copy of your resume.
Along with the essays, the resume and Employment History are the most critical documents that you control. Both should present you as effectively and honestly as possible. These two values are not in conflict: Be honest, be thorough, and do not be humble. You are being judged by your professional experience and this is where they get your complete record of it. If you have not done so, I suggest reading Steve Green's post on resumes.
TRANSCRIPTS
Last year at the Stanford presentation in Tokyo, Eric Abrams emphasized that the admissions committee closely reads transcripts. While you don't control the content at this point, you have the possibility of impacting how the transcript is interpreted. Scrutinize your own transcript. If your GPA is high, this is easy. You can relax. If on the other hand,your transcript reveals an unimpressive GPA, some very low grades, gaps in study, or anything else that concerns you, you had better figure out how to address in the Additional Information section (see below).
USE IT OR DON'T USE IT, BUT DON'T ABUSE IT:
Additional Information
If there is any other information that is critical for us to know and is not captured elsewhere, include it in this section of your application. Do not include additional essays.
Examples of pertinent additional information include:
- Extenuating circumstances affecting academic or work performance.
- Explanation of why you do not have a Letter of Reference from your current direct supervisor.
- Explanation of criminal conviction, academic suspension or expulsion, and/or failing grades.
- Any other information that you did not have sufficient space to complete in another section of the application (begin the information in the appropriate section).
- Additional work experience that cannot fit into the space provided.
If you really have no explanation for something negative, don't bother writing about it. For example if your GPA is 2.9 and you have no good explanation for why it is 2.9, don't bother writing something that looks like a lame excuse. This is more likely to hurt than help you. In the same vein, don't waste the committee's time telling them that your GMAT is a much better indicator than your GPA (the opposite is also true). They have heard it before and they will look at both scores and can draw their own conclusions without you stating the obvious. That said, if you have a good explanation for a bad GPA, you should most certainly write about it.
Activities
You have an opportunity to describe your extracurricular activities in your online application. This is an excellent way for us to understand your experiences and insights and to come to know you personally.
No club, community, or professional activity is more important than another.
With activities, a sustained depth of commitment in one or two activities may demonstrate your passion more than minimal participation in five or six organizations.
Please note that there are separate sections in the online application for you to report activities during and after university/college. Examples of activities in which you are/have been involved may include charitable, civic, community, and professional.
This section is important. Of course, some applicants will not have much here, while others will have a plethora of things to mention. In any case, provide the best answer you can. Use your judgment about what to include. The above instructions make it very clear that Stanford GSB is not looking for quantity. Give them quality and don't mention anything that will show your lack of commitment: If you joined a lot of organizations for a really short time and did nothing, I don't think that it will help you to mention it.
Finally, please keep in mind that there is no perfect applicant, just like there is no perfect human being. If you have had to work 100-plus hours a week since graduating from university and your idea of extracurricular activity is sleep, don't assume that not having any great activities will hurt you. Admissions will evaluate your whole application. I have had the opportunity to work with great applicants who were admitted to Stanford, and I can say none of them were perfect, but what they were able to do was present themselves as honestly and effectively as possible.
Questions? Write comments or contact me directly at adammarkus@gmail.com. Please see my FAQ regarding the types of questions I will respond to.
-Adam Markus
アダム マーカス
スタンフォード ビジネススクール カウンセリング コンサルティング 大学院 エッセイMBA留学
Scoretop: Summer Fun!
Warning: This is not my typical blog entry filled with useful information that will help get you into school.
I am sure that most of my readers have been following the Scoretop story. It seems like everyone is writing about it. My favorite "fun" take on it so far is from the FT:
It has all the makings of a summer blockbuster....intellectual property theft, suspects fleeing the country, the FBI. But this is not the latest Dan Brown novel, but a tale of educational testing; to be more precise, the story of a gang who sat the GMAT test, the entry test for business school, in order to steal the questions and then sell them on to others.
The author of the above, Della Bradshaw, does not really write anything new, though she does mention an old story from 2005 related to professional impersonators taking GMAT tests and getting arrested for it. Her first paragraph sounds exciting, but if you are reporting on what has already been reported on... Of course, maybe someone will make it into a movie! I see this as especially likely (well, not really likely, but more amusing) if GMAC actually decides to go after the Scoretop customer base. Watching the helicopter parents look for legal redress as well as the sudden movement of waitlists and the potential for reduced intakes for the Class of 2011 might just have what it takes to make a movie.
Sorry I needed a break from writing about Stanford's Class of 2011 application, but don't worry that post will be coming soon.
What do you think? Write comments or contact me directly at adammarkus@gmail.com.
-Adam Markus
アダム マーカス
ビジネススクール 留学 必須試験 GMAT
I am sure that most of my readers have been following the Scoretop story. It seems like everyone is writing about it. My favorite "fun" take on it so far is from the FT:
It has all the makings of a summer blockbuster....intellectual property theft, suspects fleeing the country, the FBI. But this is not the latest Dan Brown novel, but a tale of educational testing; to be more precise, the story of a gang who sat the GMAT test, the entry test for business school, in order to steal the questions and then sell them on to others.
The author of the above, Della Bradshaw, does not really write anything new, though she does mention an old story from 2005 related to professional impersonators taking GMAT tests and getting arrested for it. Her first paragraph sounds exciting, but if you are reporting on what has already been reported on... Of course, maybe someone will make it into a movie! I see this as especially likely (well, not really likely, but more amusing) if GMAC actually decides to go after the Scoretop customer base. Watching the helicopter parents look for legal redress as well as the sudden movement of waitlists and the potential for reduced intakes for the Class of 2011 might just have what it takes to make a movie.
Sorry I needed a break from writing about Stanford's Class of 2011 application, but don't worry that post will be coming soon.
What do you think? Write comments or contact me directly at adammarkus@gmail.com.
-Adam Markus
アダム マーカス
ビジネススクール 留学 必須試験 GMAT
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