The real crisis in American higher
education is that our best colleges never see a large chunk of
our smartest students.
In an important recent study, the economists Caroline Hoxby
and Christopher Avery found that very few high achievers from
low-income families ever apply to top colleges, and that the
missing applications from these kids largely explain why they’re
underrepresented at our leading universities.
At first glance, poor students’ reluctance to aim for the
Ivy League might seem to make sense. After all, there’s no way
the typical low-income family can afford tuition of $50,000 a
year. But in reality, they don’t have to pay anything for these
The story of their lost footing is also the story of something larger —
the growing role that education plays in preserving class divisions.
Poor students have long trailed affluent peers in school performance,
but from grade-school tests to college completion, the gaps are growing.
With school success and earning prospects ever more entwined, the
consequences carry far: education, a force meant to erode class
barriers, appears to be fortifying them.
Earlier this week the Graduate Management Admission Council (GMAC)
reported that a record number of GMATs were taken in testing year 2012,
which ran from June 1, 2011, through June 30, 2012. In that period
286,529 GMAT exams were administered, up 11% from the 2011 testing year,
and up 8% compared to the previous record of 265,613 in 2009. That’s
right. Amid all of the doom and gloom and reports of double-digit
percentage declines in applications sent to some of the top U.S. MBA
programs, applicants took more GMATs last year than in any year before!
What gives? has the market for graduate management education turned the
corner? Could we see 300,000 GMATs administered in a year pretty soon?...
It is these sort of uniquely Indian
misinterpretations of admissions and post-MBA
careers at b-schools outside India that led us at
PaGaLGuY to conceptualise this PaGaLGuY
Kickass Guide to MBA Abroad. We decided that
we will put together a set of articles, interviews
and opinions that help Indian MBA applicants
get started on the admissions, financing and
post-MBA career aspects of international bschools
in an ebook that is written from an
While many managers think of August as the month for lying on a beach and soaking up the sun, for those considering an MBA, it is the month to dust down the CV, write application essays and sit the GMAT, the entry exam for business school.
This year, however, it’s all change as many of the world’s top schools have radically altered their application processes. Innovation is the buzzword, says Chioma Isiadinso, chief executive of Expartus, the business school admissions consultancy. “In the 15 years I’ve been in this industry I have never seen this level of change,” she says.
“Communications skills and presentation skills are going to be a lot more important than written communications in the future,” says Martin Boehm, MBA director at IE Business School in Madrid...
Santiago Iñiguez (Wikipedia entry) is dean of IE Business School. Comment online: www.ft.com/soapbox
Asked what type of student they are looking for, most business school deans have the same answer: the best.
It is natural to want the most promising applicants. But are we really talking about and competing for the same group of potential students? At first glance it would seem so, given that the admissions criteria of business schools is so markedly similar – making for a zero-sum game. Each student can only go to one school.
This week I’d like to spend time discussing the nuts and bolts of the application, including work and academic history and extracurricular activities. After many years of reading applications, I’m surprised at how few applicants leverage these parts of the application given the importance of the information requested...
There was a time when a student could graduate from business school with the basic MBA tool kit and knowledge about a single industry or job function and be reasonably confident that he or she was well positioned to launch a career. But now, with the constant stream of data, news and opinions that needs to be sorted through, having a depth of knowledge is no longer enough. Today, mastery of business requires the ability to filter and synthesize information from multiple sources in order to make effective business decisions.
In the mid-1990′s, when use of the Internet was growing by leaps and bounds at colleges, many business school faculty noticed a shift in the way information was being gathered and processed. Students, for the first time, had access to high-speed Internet connections and a wealth of information that made the computer lab an extension of the library. Textbooks, which for generations served as the definitive study reference, became just one of a vast array of information sources.
In hindsight, we can now see that a large-scale adaptation was taking place. When faced with information overload, students—and businesses—became more nimble at sourcing, sorting, analyzing and applying data to solve problems. Eventually, business schools caught on, in large part because the market (employers) told them that their graduates needed to come equipped with more agile information integration skills. Our schools, The Tuck School at Dartmouth and the University of San Diego’s School of Business, are among many programs that revised curricula and innovated to address these issues.
Business schools also recognize that their screening of candidates needs to adapt to reflect these changes. It is no longer enough just to test for quantitative, verbal, and writing skills; schools realize that they also need to understand how well applicants synthesize information to solve problems.
Co-author David A. Pyke is dean of the University of San Diego's School of Business
We are pleased to see that the Graduate Management Admissions Council has worked with business schools to change the way these new skills are measured. The Council surveyed 740 business school faculty members and identified specific questions that reveal how well students can use different data sources to analyze information and identify relationships to solve interrelated problems.
The result: On June 5, graduate business schools will welcome the Next Generation Graduate Management Admissions Test (GMAT) with a new section called Integrated Reasoning. The older version of the test, which includes two 75-minute sections—one quantitative and one verbal, had two separately scored 30-minute essay questions. One of these essays will be replaced by the Integrated Reasoning section. The Graduate Management Admissions Council will report Integrated Reasoning scores separately on a one-to-eight scale that, like the essay question, will not be included in the total GMAT score.
Schools, like students and businesses, are constantly adapting to the proliferation of information. When considering a large number of applicants for a limited number of seats, we too must sort through mounds of data to try to determine which candidates are the best fit. We...
The Master in Management Compass provides information about Master in Management (MiM) programs, be they named Master in Management or similarly, for example, Master in International Management, or be they named differently but included from the Financial Times in the Master in Management ranking.
On the Master in Management Compass website, users have the opportunity to inform themselves about all kinds of questions regarding the MiM per se, for example the content, application processes, or career perspectives, as well as on specific MiM programs and institutions.
Our latest survey delves behind the “who, what, where, and why” of applications to 650 graduate management programs for 2011 – 2012, analyzing trends in demand, applicant demographics, acceptance/enrollment rates, and incoming class sizes at 331 graduate business schools worldwide...
The worse the economy gets, the more popular business degrees become. By Richard Northedge
More people than ever want to study for an MBA, the course first offered by Harvard more than a 100 years ago. The London Business School has had 3,500 applications for this month’s 400 places. Demand for business courses in the UK is up by 8 per cent.
Jane Delbene, the director of marketing at the Graduate Management Admissions Council, which sets the entry tests used by many business schools, says: “There’s an inverse relationship to the economy. When the economy’s down, people decide they want to go to business school.” ...
The financial crisis, which threw the spotlight on MBA programmes and graduates, combined with the management needs of a new breed of industries, mean that business schools are now trying to recruit a different type of student to their MBA programmes. This is particularly true at top US business schools Harvard, Wharton and Stanford. Where these schools lead, others follow...
...One of the more intriguing solutions to the essay question dilemma isn't an essay question at all, but a blank sheet of paper. In one of its three required essays, Chicago's Booth School of Business gives applicants free rein to write about anything, in keeping with the school's practice of teaching MBA students how to think, rather than what to think...
Starting today (May 24), you can now download a new $4.99 app from Graduate Management Admission Council to allow you to study for the GMAT exam pretty much anywhere on the fly with your iPhone, iPod Touch or IPad in hand. The app is now available at iTunes.
All in all, it’s an invaluable tool to help prepare for the test..
In the U.S., the number of women taking the GMAT has risen incrementally for the last decade, according to the Graduate Management Admission Council. There were 50,053 U.S. women who took the GMAT in 2010, a 10 percent increase from a decade ago, GMAC said...
U.S. graduate business schools are losing their iron grip on the thriving market for international M.B.A. students.
At the 25 U.S. graduate-business programs that award the largest numbers of degrees to international students, applications for the 2011 fall semester declined 4%, according to a survey released Tuesday by the Council of Graduate Schools, based in Washington, D.C.
Although international applications to all American business schools rose by 4%, that figure paled in comparison to the 12% growth in international bids to U.S. programs offering degrees in engineering and physical and earth sciences, the survey said...
The vast majority of prospective business school students said they plan to attend business school, regardless of economic conditions, according to a new survey from the Graduate Management Admission Council (GMAC) released today. The survey looked at the career aspirations and backgrounds of about 40,000 potential MBA students worldwide who registered in 2009 and 2010 on mba.com , a website run by GMAC that provides people with information on the business school application process.
The European Geographic Trend Report for GMAT® Examinees identifies migratory trends among GMAT examinees applying to and attending graduate business school. Geographic and background data collected after each examinee completes the GMAT exam are used and combined with score-sending patterns. Together they illustrate which countries and schools are of interest to citizens of various European countries. Data from the most recent testing year are compared against data from four years prior to identify changes in examinee preferences...
Allure of business schools in Europe appears to grow
While the United States remains the top destination for aspiring business school students, institutions throughout Europe are drawing an ever-increasing number of students from both within and outside the continent, according to a new report.
The key findings from the report were issued Jan. 11 by Graduate Management News, the newsletter of the Graduate Management Admission Council...
With the decision now taken to increase undergraduate tuition fees, the implications for graduate management education will soon be apparent. Will postgraduate students be willing to pay the fees currently charged when also facing up to £25,000 of undergraduate debt? Will the increase of undergraduate fees impact the uptake of postgraduate qualifications? Will post graduate fees increase? Whatever the future holds, it is clear today that not only are graduate students willing to pay - they get personal returns – but the economy benefits from graduate management education as well.
The results of a recent global survey of graduate management alumni from the class of 2010 by the Graduate Management Admission Council (GMAC) clearly indicate that they place a high value on their education. By September 2010, 88 percent had a job and some three-quarters of those said they could not have obtained their job without their graduate business degree—the same proportion as the class of 2007 alumni, who entered the labour force in a booming economy.