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8/14/2019 BBR Volume 2 Issue 5
1/25
BRUINBUSINESSREVIEW
POST BACHELOR
VOLUME II ISSUE
8/14/2019 BBR Volume 2 Issue 5
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Janua
ry
2009 January 20
Career Fair
Location: Ackerman Grand Ballroom
Time: 10:00am 3:00pm
Description: Meet representatives from vari-
ous companies and search for internships,
part-time, and full-time jobs.
Bain & Company Employer Presentation
Location: DeNeve Plaza Room A
Time: 6:00pm 8:00pmDescription: Bain & Company Associate Con-
sultant Internship Information Session.
Internships for 2009 Workshop
Location: Career Center, Second Floor, Rm.
200
Time: 12:00pm 1:00pm
Description: This workshop offers practical
search advice and application tips, as well as
a review of some standout internships ac-
cepting resumes now. RSVP on BruinView.
Sacramento and Bay Area Internships for
Summer '09 Workshop
Location: Career Center, Second Floor, Rm.
200
Time: 1:00pm 1:30pm
Description: This workshop offers you the
tools to effectively search for Northern Cali-
fornia summer employment opportunities.
RSVP on BruinView.
January 21
Internship Search Strategies for International
Students
Location: Bradley International Center
Time: 3:00pm 5:00pm
Description: UCLA Career Center counselors
will share a variety of effective search strate-
gies for international students seeking in-
ternships in Los Angeles and other markets.
RSVP on BruinView.
Graduate and Professional School Planning
Location: Career Center, Second Floor, Ca-reer Lab
Time: 4:00pm 5:00pm
Description: Are you wondering if graduate
or professional school is right for you or do
you have questions regarding the application
process? Attend this workshop for answers.
How to Make Millions in the Stock Market
Location: Covel North Ridge Room
Time: 7:00pm 9:00pm
Description: Information Session about stock
investing.
Get JD: Preparing for and Applying to Law
School
Location: Career Center, Third Floor
Time: 11:00am 12:30pm
Description: Law school admissions require-
ments, timeline information, completing ap-
plication materials, letter of reference ser-
vices, and developing a strong personal
statement.
January 22
Environmental Protection Agency Employer
Presentation
Location: Career Center, Third Floor, Conf.
Rm. A
Time: 5:00pm 6:30pm
Description: Environmental Protection
Agency (Office of Enforcement and Compli-
ance Assurance) discusses jobs opportunities
with agency.
January 23
Business Economics Application Due
Location: Bunche 2263
Time: 4:00pm
Description: This is the due date for the Busi-
ness Economics application for Winter Quar-
ter 2009.
January 29
MillerCoors Sales Management Internship
Info Session
Location: Career Center, Third Floor, Conf.Rm. B
Time: 6:00pm 7:00pm
Description: Stop by to learn more about the
Sales Management Internship.
DaVita, Inc. Employer Presentation
Location: Career Center, Third Floor Conf.
Rm. A
Time: 6:30pm 9:00pm
Description: DaVita health company job op-
portunities.
February 2
Get JD: Preparing for and Applying to Law
School
Location: Career Center, Third Floor
Time: 4:30pm 5:30pm
Description: Law school admissions require-
ments, timeline information, completing ap-
plication materials, letter of reference ser-
vices, and developing a strong personal
statement.
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4 Bernard Madoff and His Ponzi
Scheme
5 News Briefs
6 Why Business School?
8 Professional Certifications
10 Earning Your Joint Degree
11 How to Get Recommendations
12 Standardized Tests for Grad Schoo
14 Paying for Graduate Schools
16 Stanford Graduate School of
Business
18 International Business Schools
21 Options for International Students
Post-Bachelor Degree
22 On Track for Business/Law School
CONTENTS
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Bernard Madoff
By Jaeman Kim
Staff Writer
On December 11, 2008, Bernard Madoff was arrested and
charged with criminal securities fraud. The fraud he
committed, which has potentially spanned over three
decades, involved thousands of investors who gave their
money to Madoff, who said that losses to his clients are
about $50 billion dollars. Even worse, no one knows exactly
where all the money is.
In 1960, Bernard Madoff started the firm Bernard L. Madoff
Investment Securities LLC. The firm facilitated securities
trades by serving as the middleman for investors. The firm went on to become successful. Madoff also helped to develo
the Nasdaq stock market and once served as its chairman and helped advise the Securities and Exchange Commissio(SEC).
While Madoff was carrying out the fraud, he told his clients that he would offer them a steady source of return on the
investments through a options-trading strategy. This strategy involved buying stocks while also trading options, or th
right to buy or sell property that is exchanged for an agreed amount of money, in a way that would limit any losses o
the shares of stocks. However, it has come out since his arrest that Madoffs firm could not have actually bought and so
the options because the totals that Madoff claims to have had would hav
exceeded the total amount of trading occurring during those days.
Investigators now believe that Madoff initially participated in this tradin
scheme but failed. He then financed the operation by taking money from neclients and paying it out to existing clients. Due to the nature of the scheme,
could only continue if he obtained more and more investors. However, due t
the recent economic downturn, there was an increase in the number o
redemptions, or people asking for their money back, and it is believed tha
Madoff did not have enough money to sustain the Ponzi scheme.
The reason as to why Madoff was arrested was that he confessed to his son
the Ponzi scheme. According to the criminal complaint, Madoff has receive
requests from his investors for about $7 billion in redemptions. However, give
that there was only $200 to $300 million left at the firm, this was impossible.
Madoff has stated that losses for his investors are about $50 million dollar
Investigators believe that this amount includes fake profits that Madoffs fir
reported. Therefore, it is probable that the actual amount is less. In total, th
loss may be closer to around $30 million. The biggest question that everybod
has, however, is where all the money actually went. It is possible that Mado
has multiple off-shore accounts that have strong privacy laws. Given the size o
the scheme, it may be some time before there is an answer.
ictims of the Ponzi Scheme IncludeInternational Olympic Committee,
led by Jacques Rogge
Bramdean Alternatives,
run by Nicola Horlick
HSBC,
headed by Michael Geoghegan
Banco Santander,
led by Emilion Botin
Human Rights First,
led by Elisa Massimino
BERNARD MADOFF
AND HIS PONZI SCHEME
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By Dmitry Shuster
Staff Writer
NEWSBRIEFSRUSSIA AND EUROPE COME TO TERMS OVER GAS
After a tense standoff over the supply of gas to European nations, Russian and European officials have finally signed a
deal. This will reopen gas supplies to the hundreds of thousands of homes that were left without gas in sub-zero tem-
peratures after previous negotiations with Ukraine and European nations stalled. The primary advantage of the deal is
that it stated how gas flowing from Russia to Europe will be monitored amid accusations that Ukraine has been stealing
gas for its own benefit. Representatives from the EU, Russia, and Ukraine will monitor the transit of gas at pumping and
measuring stations in Ukraine. Fortunately, more than 15 countries in central Europe will now receive gas from Russia,
who provides 40% of Europes gas imports.
U.S. JOB LOSSES HIT RECORD, AGAIN
The number of U.S. jobs lost in 2008 is the highest figure since after World War II. A total of 2.6 million jobs were lost
throughout the entire year. The jobless rate rose to 7.2% in the month of December, the highest it has been in the past
16 years. President-elect Barack Obama, who is to take office on January 20, has announced that the economic situa-
tion is critical and that immediate actions must be taken. With the release of this data, Boeing announced that it would
cut 4,500 jobs from its commercial airplane
division due to the global economic crisis.
There is little consolation in the fact that thenumber of jobs lost in December 524,000
missed analyst expectations of 550,000.
Where Jobs Were Lost
Factories: 791,000
Retail: 522,000
Temporary work: 490,000
Construction: 630,000
SOUTH KOREAS RATE CUTS SIGNAL MORE TROUBLEThe Central Bank of South Korea cut interest rates by half a percentage point to a record low of 2.5% in the nations
latest attempt to fight off recession. President Lee Myung-bak has stated that the target growth rate of 3% may prove
to be beyond reach. This is the fifth interest rate cut in three months for South Korea, whose exports have decreased
significantly and whose factory output fell by 14.1% in November. The predictions of some economists are much worse
than those of South Korean officials. Some suggest that the countrys economy could actually contract by 3%, which
would be the first annual contraction since the Asian financial crisis of 1997. The South Korean government has also
established a $37 billion fund to aid small and medium-sized businesses in need of new capital. The countrys predica-
ment clearly shows that no nation is immune to the fall in global consumer demand and the weakened global economy
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By Eric Park
Staff Writer
During the current economic crisis, many employers are laying off significant portions of their work force. In December
of 2008, the U.S. reached a 16-year high unemployment rate of 7.2%. Therefore, it makes sense to many currentcollege students to try to earn their MBA directly after completing their bachelors degrees. While attaining an MBA,
students will not have to worry about job hunting in a slumping economy and will tend to have advantages over other
applicants upon graduation. However, receiving an MBA includes many obstacles such as high tuition costs.
MBA job applicants are distinguished by credibility. They learn
about business management including factors such as customer
and investor satisfaction. Their degrees are specialized in a field
such as sales, marketing, risk management, accounting and more.
An MBA level education allows individuals to have greatercomprehension of specifics and nuances in their work places.
Employers place emphasis on education and are more open to
grant higher positions and salaries to MBAs. An MBA tends to
bring in more experience and knowledge than their B.A.
counterparts, and tends to have many career choices and
opportunities for advancement. Many people attend graduate
school for these reasons and there are many successful examples.
Jamie Dimon, Chairman and CEO of JP Morgan Chase, Thaddeus
Arroyo, CIO of AT&T and James McNerney, CEO of Boeing are just a
few MBAs in business.
While an MBA can provide monetary benefits, it can also provide
personal benefits. MBA programs currently exist all over the world. As such, those who possess MBAs are respected
and admired for their credentials. Therefore, possessing an MBA can garner respect from co-workers and provide
individuals with the confidence needed to lead and manage others. An MBA degree can open many doors while
providing prestige and confidence to those who possess it.
Despite the benefits of getting an MBA, there are also challenges with doing so.
Many traditional two year MBA programs have annual tuition costs exceeding
the $40,000 threshold.
Numerous funding options are available such as getting loans, serving as a
teaching assistant and having previous employers (for those with work previous
experience) pay for schooling.
However, there are many other expenses involved including living and personal
arrangements. Harvard Business School is one of the premier MBA programs.
On its website, school officials estimate the 2010 budget for a single student in
2010 to be $77,150!
BENEFITS AND INCENTIVES
MONETARY COSTS
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Single Married/DP
Married/DP
with One Child
Tuition $43,800 $43,800 $43,800University Health Ser-
vices Fee$1,426 $3,218 $4,010
Blue Cross/Blue Shield
(12 months)$1,404 $3,166 $4,222
Program Support Fee $4,200 $4,200 $4,200
Room & Utilities (9
months)$14,040 $16,515 $20,700
Board, Personal, Other (9
months) $12,280 $15,951 $20,318
Total $77,150 $86,850 $97,250
Class of 2010 Student Budget
A popular expression in corporate culture is time is money. Tradi-
tional MBA programs require two years. However, for some students,
they must also work while attending school. There are programs thataccommodate such lifestyles but the time required to receive an MBA
becomes longer. Many schools require hours of work experience
along with high GMAT scores and GPAs. For those fresh out of col-
lege, this means time must be dedicated to meeting those prerequi-
sites. When deciding students must also consider possible wages and
valuable work experience.
Proponents of MBAs argue that they allow for quicker advancement in
the corporate workplace. However, others ague that work experience
is more valuable than anything taught in the classrooms. As such,
there are many individuals in business who have achieved great suc-
cess without an MBA. Such examples include Rollin Ford, CIO of Wal-
mart, Steve Jobs, CEO of Apple, as well as Stanford graduate school
dropout and current Microsoft CEO, Steve Ballmer.
Pursuing an undergraduate degree is what all of us students are here
for. There are also those who seek further education. However, it is
up to the individual to carefully analyze his/her own circumstances before pursuing a graduate education.
COST OF TIME
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CERTIFICATATION:
your way to a better jobBy Christine Liu
Senior Staff Writer
Mr. Joe Smith, CIA. Top-secret government agent? Not likely, but hes
probably a Certified Internal Auditor. In the business industry, you may
come across many workers with a title, such as CIA, CFE, or CIMA. But
what do these titles mean? What do they entail? Well, well explain the
professional certifications in the business sector and the advantages of
having them.
First of all, there are two types of certifications, a licensure and a competence certification. Someone who holds a
license means that they have met the requirements for the license in that particular state, such as a public accountant
or attorney. Someone with a competence certification, given by non-governmental organizations, has met certain
requirements such as education level, passed test(s), and/or demonstrated competence.
Go to the organizations website and order the certification kit. It includes information about the certifications and
exam preparation courses. Enroll in review courses or buy prep books with practice exams.
Examinations for certifications usually consist of four parts, each around two to 3.5 hours long, a total of about 10
to 14 hours. However, the separate sections can be taken separately.
Finally, do your best to pass the test in order to get certified.
In todays competitive job industry, distinguishing oneself from his or her peers becomes increasingly difficult.
Professional certifications allow someone to further strengthen his/her appeal to employers and has an edge overother non-certified job applicants.
According to the Institute of Management Accountants as well as other surveys, employees with certifications
receive a higher salary. For example, accounting professionals who are certified earned approximately $11,000 to
$18,000 more annually than non-certified accounting professionals.
With the economy in a recession, paying or receiving sponsorship for employers for graduate school expense is not
feasible for many. Thus, certifications provide a solid alternative, especially since it can offset the disadvantage of
the lack of a graduate degree.
Professional certifications force one to increase his/her knowledge base since the examination would most likely
include areas of unfamiliar territory. The broad base of knowledge then allows the job applicant to be more
flexible, an appealing quality to employers.
HOW TO GET STARTED
THE ADVANTAGES
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There are many, many types of certifications spread across dozens of fields. Here, well zero in on the most relevant
ones pertaining to business, accounting and finance.
ACCOUNTING:
CMA (Certified Management Accountant)CMAs prepare an organizations financial statements, perform financial
analysis, as well as conduct a variety of other management accounting/financial tasks.
CIA (Certified Internal Auditor) CIAs audits financial
statements in order to identify risks, come up with plans to
controls risks, and examine the impact of alternative
solutions.
CFE (Certified Fraud Examiner) CFEs aid in the prevention,
detection and investigation of fraud by gathering and
examining evidence.
Others:
CPA (Certified Public Accountant)
CCSA (Certification in Control Self Assessment)
CCA (Chartered Cost Accountant)
FINANCE:
CFP (Certified Financial Planner) -- CFPs develop/implement financial plans for businesses, organizations, and
individuals suited to their financial situations and goals. They must be knowledgeable in many areas of finance
including income and estate tax, investments, risk-management analysis and retirement planning.
CFA (Chartered Financial Analyst) CFAs work in the field of institutional money management and stock analysis and
provide research/ratings on various forms of investments.
CFS (Certified Fund Specialist) CFSs advise clients on the
investment of funds.
CIMA (Certified Investment Management Analyst)
CIMAs usually have careers in financial consulting firms,
involving the management of large amounts of money for
clients.
Others:
CLU (Chartered Life Underwriter)
CMT (Chartered Market Technician)
CIC (Chartered Investment Counselor)
AREAS OF CERTIFICATION
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In an increasingly competitive job market, many students are doing whatever they can to distinguish themselves from
their peers in the job market. This includes bolstering their resume to include any skill or experience that the applica-
tion sitting next to theirs may not have. In the business field, having a background in two specializations can give gradu-
ates a significant advantage both while looking for work and in the office when they finally land a job. Many profession-
als seek to expand their knowledge and experience, and pursue joint degrees because they realize that having more
than one specialty will make them extremely attractive to future employers that require a combination of skills.
A joint degree program offers students the opportunity to study and obtain their masters degree in two different fields
simultaneously. The reduction in time (usually by one to two years) necessary to obtain both degrees makes such pro-grams very attractive to students who want to pursue a career in either field, or whose career path necessitates the
background of both areas. Most schools require applications and
acceptance into both programs separately, while others require
one complete application, and added supplementary items such
as letters of intent or statements of interest.
One of the most common joint degree programs among profes-
sionals in the business field is the Juris Doctor/Masters of Business
Administration combination. It teams up a universitys business
and law programs, and usually lasts four years, saving one year
over completing the degrees separately. This multidisciplinary
program prepares students to address both the legal and business
issues they will face in their jobs within consulting, legal practice,
and other areas.
Many other programs are offered at various universities, including joint degrees in design, engineering, and govern-
ment. MBA/MArch (Master in Architecture) is one type of design and business joint degree by teaming up with a uni-
versitys architectural department. An MBA/MSE (Master of Science in Engineering) joint degree adds a master of sci-
ence in engineering to an MBA for working engineers seeking to gain both technical and managerial experience. Joint
degrees with a master in public policy and an MBA are
sought after by leaders in government, realizing the impor-
tance of general business knowledge and the understanding
of economic development.
In general, joint degree program specifications depend
greatly on the university. It is extremely important to re-
search all potential programs in order to choose the best
and most fitting for you. So when you are deciding to pursue
an MBA, take a look into the world of joint degrees as well.
It just may give you that leg up on your opponent, and will
definitely give you a more well-rounded background for any
future endeavors.
JOINTDEGREEEARNING A
By Stefanie Ju
Staff Writer
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how to ask forA Letter of Recommendatio
By Shannon Kung
Senior Staff Writer
Getting a letter of recommendation is one of the hardest parts of the graduate school application process. Graduateadmissions committees look at hundreds of applicants who have similar grades and extra-curricular activities. A letter
of recommendation is a way for the committees to learn more about you as a candidate. Thus, getting an excellent
letter of recommendation is crucial. Most graduate schools ask for three letters and they, just like the rest of your ap-
plication, should be dealt with thoughtfully and carefully.
If you are going to professional school straight from college, you will most likely be turning to
faculty for letters or recommendation. When first starting out, consider how well you know
the professor and your performance in his or her class. If you never went to his office hours
and slept through most of lecture, it might be best to skip over him. To increase your chances
of getting a good letter, it might be helpful to start thinking about building a relationship with
professors so they will know you better and not only be willing to write the letter but write a
strong one. When approaching professors, remember that you are asking them for a favor.
Thus, dont ask by e-mail or spring the question on them before class starts. Instead, it is bet-
ter to arrange an appointment with them and give them advanced notice that you want to talk
about graduate school.
Be prepared for the meeting with your professor. You want to
impart on the professor that this letter is important to you, so
discuss the type of degree you want to get, the school youreapplying for, your goals and motivations, and why you chose
them. Writing the letter of recommendation is not an easy task
and the professors are taking time out of their schedule to write
it. Make sure you ask at least a month before the due date and
that you give them all the necessary documentation- any in-
structions from the graduate school, forms, your transcript, etc.
Be neat and make sure that you give all your documentation at
once so certain important papers are not lost. Being organized with all your paperwork will only serve to give them a
more favorable impression of you and thus write a better letter.
Follow up with your professor. They are busy with research,
classes, and students and are always dealing with huge piles of
papers. This means that it is important to follow up periodically to
make sure they turn it in on time and to see if they need any addi-
tional information. However, be careful not to become a nuisance,
as this will reflect poorly on you. After the recommendation has
been sent out, show the professor that you appreciate his effort.
Many websites recommend writing a thank you note or a card. Also, be sure to tell the professor the status of your
application- if he helped you get accepted into your dream school, he would definitely want to know!
STARTING OUT
THE MEETING
FOLLOW UP
Letter of Recommendation Checklist:
Did you ask your professor early? Have you done your research?
Did you prepare appropriate documents?
Did you make sure to tell him the deadline
Did you follow up?
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The Lowdown on the
By Joanne Hou
Senior Staff Writer
So you know you want to get to a graduate or professional school. The
next step is making sure you have taken the proper standardized test that
is required for admission into the program of your choice. For business
schools, the test is the GMAT (Graduate Management Admission Test); for
law school it is the LSAT (Law School Admission Test); and for most gradu-
ate school programs like a masters or Ph.D., that test is the GRE (Graduate
Record Examinations). Here are the essentials for each test.
GMAT at a Glance
Test Length 3.5 hours (210 minutes)
Test Breakdown 2 essays (30 min. each)37 MC quantitative ques-
tions (75 min.)41 MC verbal questions (75
min.)Testing Method By computer using compute
-adaptive formatScore Range 200-800
Test Score Valid
Period 5 years
Cost $250Retest Policy Once every 31 days but no
more than 5 times in any 12
monthsInformation www.mba.com
The GMAT is a test of general verbal, quantitative, and ana-
lytical writing skills and not a test of actual business or man-
agement knowledge. It is predominantly multiple choice
with two 30-minute essays one focusing on analyzing an is-
sue and the other on analyzing an argument. For the verbal
section, reading and critical analytical skills are tested, along
with language skills in the form of sentence completion. For
the quantitative portion of the test, the questions deal withmathematical problem solving and data analysis.
The GMAT is given electronically and the questions are cho-
sen by the computer program in what is called computer-
adaptive format. This means that the computer picks prob-
lems based on your answers to previous questions so the
difficulty level adjusts as you go along. Thus, different test
takers may face different questions and have variable pro-
portions of easy and difficult questions. This also means that
as you choose an answer, the response is immediately
scored and you cannot go back to previous questions. Scor-
ing for the GMAT is based on 1) the number of questions
answered; 2) the number answered correctly; and 3) the dif-
ficulty of those questions.
The test is given at test centers around the year all over the
world. It costs $250 to take the test and $50 to reschedule
an appointment. The scores range from 200-800 and are
valid for five years.
GMAT
GMAT, SAT, and GRE
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A GUIDE TO MBA FINANCING
HOW TO PAY FOR AN MBA:
By Julie Chen
Staff Writer
You finally finished paying off your college loans. You got into your dream business school. Now how in the world are
you going to pay for it? Getting an MBA is a costly investment. The recommended annual budget in 2008 for the MBA
program at Wharton is $80,000 dollars. While financial aid is available, funding for graduate students is limited and the
grants and scholarships offered are generally small in size. Paying for your new education, however, can be made more
manageable once you understand your options.
The first thing you must decide is whether you will attend school as a full-time or part-time student. Approximately 2/3of business students pursue their degrees as part-time students while continuing to work full-time. Although it will take
longer to earn a degree, the costs are more manageable and the amount of money youll need to borrow can be drasti-
cally reduced. Another consideration is if you work for a company that offers either full or partial tuition compensation
to its employees. If you can get your employer to reimburse you for all or part of your MBA education, you can avoid
going into debt altogether. Every employer handles sponsorships differently, so it is important for you to do some re-
search first. Some graduate-level business programs are only available to full-time students. If you attend one of these
schools, it will not be practical for you to work full-time. You will need to consider other alternatives to fund your edu-
cational expenses.
Since an MBA is a long-term investment, most students rely on loans to cover some or all of their education or living
costs. Before you take out any loans, however, it is important that you first check your credit report. Obtain a copy and
make sure there are no errors before you apply for loans.
Federal LoansIf you need to borrow money to pay for an MBA, federal loans are usually the best option. Other than having lower in-
terest rates, most federal loans have a deferred payment option. Examples of federal loans include Stafford Loans and
Perkins Loans. Of course, not everyone is eligible for government funded loans. Many loan programs are need-based.
Eligibility will be determined by the financial aid office of your chosen business school.
Private LoansBecause federal funding for graduate students is limited, federal loans will only get you so far. The rest of the money
must come from private loans, which have higher interest rates and usually dont have deferred payment. Eligibility
requirements for private loans vary depending on the bank, corporation, or foundation that is issuing the loan. The
best way to determine eligibility is to shop around and research as many different private loan resources as you can.
FULL-TIME OR PART-TIME
FUNDS YOU NEED TO PAY BACK
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Unlike loans, scholarships and graduate fellowships do not have to be
repaid. This type of funding is usually reserved for students with special
qualifications including: merit, financial need, ethnic background, gender,
or students who will pursue studies of a specific industry.
A great resource for scholarship search is FastWeb, which provides a free
scholarship search engine. Some other databases that you may want to
investigate are: Sallie Maes Online Scholarship Service, College BoardsFund Finder, and CollegeNET MACH25.
FUNDS YOU DONT NEED TO PAY BACK
5 Financial Aid Donts:
1. Dont be afraid to ask
for help.
2. Dont forget to budget
exactly how much you
need.
3. Dont borrow untilyouve done your re-
search.
4. Dont fall for scholar-
ship scams.
5. Dont abandon the col-
lege students lifestyle .
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MBAClass Profile 2010
Years of Work Experience:
Range 0-11
Median 3.9
Prior Industry Work Experience:
Investment Management* 30%
Consumer Products 24%
Consulting 17%
Non-Profit/Govt 11%
High Tech 9%
GMAT Scores:
Range 530-790
Median 730
TOEFL Scores:
Range 253-297
Median 280
Undergraduate Majors:Humanities/Social Science 46%
Engineering/Mathematics/
Natural Sciences 35%
Business 19%
Acceptance Rate: 6%
Total Applications: 5,741
Total Accepted: 362
By Sunny Wong
Senior Staff Writer
Since its inception in 1925, the Stanford Graduate School of Business has estab-
lished itself as one of the leading business schools in the world. Located in the
heart of Silicon Valley, the school has close ties with nearby venture capital and
high tech firms and has produced a considerable number of successful business
leaders.
Stanfords MBA programs have consistently ranked near the top. In 2008, the
School was ranked #1 by the U.S News and World Report, #3 by the Financial
Times, and #2 in the 2007 business school rankings by The Economistmagazine.
Besides its MBA programs, the Graduate School of Business also offers joint and
dual degrees in a variety of areas including a Juris Doctor (JD) and MBA, a Mas-ters of Arts in Education (MA) and MBA and a Doctor of Medicine (MD) and MBA
MBA PROGRAM
This is the standard two-year program that helps students develop their manage-
ment and leadership skills. Class sizes are small and students have the opportuni-
ties to work closely with faculty.
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MBA Admissions
The Stanford Graduate School of Business is the most selective business school in the United States. For the entering
class of 2007, the acceptance rate was a mere 6%. Although many factors are considered, the admissions committee
primarily evaluates candidates in three areas.
Intellectual Vitality
Leadership Potential
Personal Qualities and Contributions
For the Class of 2011, there are three essay questions.
What matters to you the most and why?
What are your career aspirations? How will your education at Stanford help you achieve them?
Choose two of the following four:
Option 1: Tell us about a time when you built or developed a team.
Option 2: Tell us about a time when you felt most effective as a leader.
Option 3: Tell us about a time when you tried to reach a goal or complete a task that was challenging,
difficult, or frustrating.
Option 4: Tell us about a time when you went beyond what was defined, established, or expected
OTHER PROGRAMS
Stanford Sloan Masters Program
Unlike the standard MBA Program, the Stanford
Sloan Masters Program is tailored more towards
professionals with 8 or more years of management
experience and is full-time, so classes are only of-
fered during the day, from 8AM to 5PM. The pro-
gram is also shorter by one year and has a much
higher concentration of international students.
Upon completion, graduates will earn a Master of
Science in Management degree.
Ph.D. Program
For those interested in academic research and
management education, the Ph.D. Program offers a Doctor of Philosophy degree. Students can choose to concen-
trate in one of the seven areas of study, ranging from finance to marketing to political economics. Many graduates of
this program go on to become professors while others work for the large economic institutions such as the Interna-
tional Monetary Fund.
Executive Education
Stanford also offers a set of programs for experienced executives who desire to enhance their skills in a particular
field. There are programs falling under financial management, marketing, and leadership and strategy and are usuallya few months long. After the program, participants head back into their workplace with a new set of friendships from
around the world and an enhanced skill set in management.
Summer Institutes
Stanford also offers two summer institute programs for undergraduates and graduates.
The Summer Institute for General Management
The Summer institute for Entrepreneurship
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CHINA EUROPE INTERNATIONAL BUSINESS SCHOOL (CEIBS), SHANGHAI, CHINA
CEIBS was established in 1994, but already has a prominent po-
sition among the top business schools in the world. CEIBS
unique bridge between Europe and China gives the school an
international touch along with its strategic partnership with the
University of Michigan at Ann Arbor in the United States, among
other schools in Germany, France, and Spain. CEIBS offers MBA,Executive MBA, and various executive education programs.The
Executive MBA program is the largest in the world, with over
700 enrolled students, and is ranked third worldwide. Within
one decade, CEIBS has become the go to school for students in
China, in addition to students from around the globe.
http://www.ceibs.edu/
INSEAD is one of the worlds largest graduate schools in busi-
ness. This business school touts itself as a truly global business
school; indeed, the motto of the school is The Business School
for the World. This truly differentiates the school from other
business schools across the globe. INSEAD has two physical cam-
pus locations, with campuses in both France and Singapore,
along with centers in Israel and Abu Dhabi. MBA students have
the option of moving between the two campuses. INSEAD also
has a strategic alliance with the prestigious Wharton School of
Business at the University of Pennsylvania. INSEAD offers MBA,
Executive MBA, and PhD programs.
http://www.insead.edu/
London Business School is consistently ranked as one of the top busi-
ness schools in the world. The university is indeed a global one as well
with the student body at any given time representing over 121 coun-
tries, world-renowned faculty from more than 30 countries, and
alumni based in over 120 countries. The location of the school, in Lon-
don, also offers students a unique opportunity to live and study in a
truly global city. London Business School offers a rich portfolio of de-
gree and non-degree programs to suit students and executives at
every stage of their career. The following degree programs are of-
fered through the school: MBA, Executive MBA, EMBA-Global, Dubai-
London Executive MBA, Sloan Fellowship MSc, Masters in Finance, and
PhD.
http://www.london.edu/
INSEAD, FONTAINEBLEAU, FRANCE, AND SINGAPORE
LONDON BUSINESS SCHOOL, LONDON, UNITED KINGDOM
http://www.ceibs.edu/http://www.insead.edu/http://www.london.edu/http://www.london.edu/http://www.insead.edu/http://www.ceibs.edu/8/14/2019 BBR Volume 2 Issue 5
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In just over 40 years, IIMA has
grown from being Indias premier
business school to one recognized
internationally. Through
collaborations with universities
around the world, including
Harvard University, IIMA offersstudents a unique blend of
Eastern and Western values. In
addition to the traditional MBA
program, IIMA also offers an MBA
with an Agri-Business emphasis, a
one year executive MBA program,
and a doctoral program involving
research training with students
choosing from ten unique areas of
specialization.
http://www.iima.ac.in/
INDIAN INSTITUTE OF MANAGEMENT (IIMA), AHMEDABAD, INDIA
1. University of Pennsylvania
Wharton, U.S.
2. London School of Business, U.K.
3. Columbia BS, U.S.
4. Stanford GSB, U.S.
5. Harvard BS, U.S.
6. INSEAD, France/Singapore
7. MIT Sloan SM, U.S.
8. IE Business School, Spain
9. University of Chicago GSB, U.S.
10. University of Cambridge Judge BS, U.K.
FINANCIAL TIMES MBA RANKINGS
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By Erika K. Solanki
Staff Writer
College students struggle with deciding their future, whether it is start-
ing a career or continuing their education at a higher level. Luckily for
American students, they have the choice of staying local, going across
the country, or even leaving the country. For international students, it is
not that easy. International students have to decipher a complicated
process in order to study in America and then have to decipher an evenmore complicated process once again if they want to stay in America for
more than just school. International students, restricted by visas and
immigration laws, have to jump through loops and holes to stay in the
United States. Below are explanations of some of these loops and holes
to give international students a head start.
An international student has the opportunity to apply for em-
ployment directly related to the students major area of study ifgranted permission for optional practical training. Before stu-
dents complete their bachelors degree, they should apply for
practical training through the United States Citizenship and Im-
migration Services (USCIS) because the application can take
two to three months or longer to process. Students can apply
as early as 120 days prior to their graduation for optional prac-
tical training. Students do not need a specific job offer to apply
for OPT employment authorization. If the student is granted
authorization for temporary employment, the international
student will be able to stay in the U.S. for an additional four-
teen months after the completion of their bachelors degree,
twelve of which are authorized for employment. Students canchoose their starting date for their OPT no later than 60 days
after their bachelors degree graduation date. Once the OPT
application is approved, the student will be issued an Employ-
ment Authorization Document card, similar to a work permit.
Although the process of issuing an EAD may take longer than
expected, students may not begin work prior to the employ-
ment date state on their EAD cards.
For examples of forms and detailed application checklist visit: http://www.immihelp.com/immigration/employment-
authorization-document.html
INTERNATIONAL STUDENTS
POST-BACHELOR DEGREE:
NOW WHAT?
OPTIONAL PRACTICAL TRAINING
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After fourteen months, students have three options:
1. Return to their countries of origin. Depending on the students country
of origin, employers in almost all countries view degrees obtained in the
United States as equivalent or perhaps more prestigious than the degrees
obtained in their own country.
2. If hired by the employer, the employer can sponsor the student on an H-
1B visa. An H-1B visa is a non-immigrant visa that allows U.S. employers toemploy foreign guest workers in specialty occupations. The U.S. limits the
number of H-1B visas granted each year, so approval of a students H-1B visa
is never guaranteed. If the students request for an H-1B is granted, the stu-
dent can also have the intent to immigrate permanently to America.
3. Apply and attend graduate or professional school. Students are eligible
for twelve months of optional practice training for each level of higher edu-
cation (masters, Ph.D., etc.); however, if a student is completing a second
degree in the same level of education (i.e. a second bachelors degree) then
the student is not eligible to apply for OPT at the completion of the students second bachelors degree.
The H-1B visa allows American companies and universities to
temporarily employ foreign workers who have the equivalent
of a U.S. bachelors degree. Students can secure a sponsorship
by an employer a few months prior to the completion of their
degree. Students could do Optional Practical Training before
trying to secure an H-1B visa or students can try to directly
secure an H-1B visa. An H-1B visa is more difficult to secure
because students need to have employer that are willing tosponsor them. Employers are more likely to sponsor students
after they have worked with them for a year through Optional
Practical Training.
International students must follow application guidelines and apply to the graduate and professional programs of their
choice; however, students must submit financial certification that demonstrates adequate funding for one year of
study. Upon acceptance into a program, the university will sponsor the student on a student visa. The two types of stu-
dent visas are F or J visas. F visa students must be totally funded by personal or family funds whereas J visa students
must be substantially funded by institutional or governmental sources. The F visa does not carry a health insurance re-
quirement, whereas the J visa does carry a health insurance requirement. J visa students must leave the U.S. in thirty
days after the completion of their program, whereas F visa students must leave within sixty days after the completion
of their program. A major difference between the two visas is that J visa students, who are financed fully or partially by
the U.S. government or their own government must return to their country of origin for two years before returning to
the United States in immigrant or worker status. F visa students have more options such as applying for Optional Prac-
tical Training or H-1B visa status after graduation. Students should aim for F visa status if their financial situation allows
them to because it will give them more future flexibility once they obtain their degree.
H-1B VISA
APPLYING TO GRADUATE AND PROFESSIONAL SCHOOLS
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By Gloria Ho
Staff Writer
With the current job market shrinking, many of us will be delaying entering the workforce and, instead, staying a few
more years in school. Though undoubtedly a sound option, there are a few factors to consider before applying.Have you taken the required tests? When is the deadline to apply? Even for those who will become an associate
come September, these things should be taken into account if you do decide to return to school. For students who
are considering business school or law school as an option, see below for a timeline that will keep you on track.
ON TRACK FOR
BUSINESS/LAW?
BUSINESS SCHOOL:
1st Year Think about what sort of career you
would like to pursue after graduation
and if business school is a suitable
path for you Talk with upperclassmen and MBA
students to gain perspective
2nd Year Start gaining experience, either
through an internship, part-time
work, or volunteering, in the business
related profession that you are inter-
ested in
Begin thinking about when to take
the GMAT
Plan a visit to a career counselor
3rd Year Determine which area of business
you would like to pursue and gain
experience in
Find a summer internship related to
a field you consider working in after
graduation
4th Year Consider taking the GMAT early
Land a full-time job for after
graduation
LAW SCHOOL:
2nd Year Familiarize yourself with the rigors of law
school
Determine whether or not law school is th
route you wish to pursue right after underg
3rd Year
September Research different law schools and the law
school application process
Keep a lookout for potential writers of let
ters of recommendation
Start studying for the June LSAT
See what its like to work in law by gainin
experience at a law firm or non-profit organ
zation
March Register for the June LSAT
Start talking with a pre-law advisor
Start thinking of who could write your
letters of recommendation
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BUSINESS SCHOOL CONTINUTED:
fter graduation: year before you would like to attend
usiness school:
anuary Begin researching business schools and
what programs they offer
Review last years application
ebruary If you have not yet taken the GMAT, be
gin preparing
Take a free GMAT practice test
March Consider enrolling in a GMAT prep course
pril Register for the GMAT
Contact potential writers for your letters
of recommendation
May Continue studying for the GMAT
Decide upon which schools you will be
applying to
Consider visiting the campus
une Take the GMAT
Request all undergraduate transcripts
Register for the GMAT (for retakes)
uly If you are applying to more than five
schools, submit a GMAC Additional Score
Report Retake the GMAT if necessary
ugust Register for business schools online
applications
Familiarize yourself with the application
processes and requirements of the schools
you are applying to
For schools with different rounds of ac-
cepting applications, decide which round
you will be applying
Begin the first draft of your essays Follow up with the writers of your letters
of recommendation
Sign up for interviews for schools that
conduct open interviews
Update resume
eptember Revise and polish your essays
Fill out applications
LAW SCHOOL CONTINUED:
June Take the LSAT
Write a draft of your personal state-
ment and have it looked over by your
pre-law advisor
Tailor your resume for law school
Finalize the list of law schools you plan
on applying to Finish the final drafts of your essays
July August Register with the Law School Data As-
sembly Service (LSDAS)
Send all your transcripts after high
school to LSDAS
Familiarize yourself with the law
schools you will be applying to and, if
possible, visit the campus
If necessary, register and prepare for
the October LSAT
4th Year
September Finish writing your personal statement
Ask your professors for a letter of rec-
ommendation
Update your resume
Request financial aid information if nec-
essary
Begin filling out applications on LSAC
October If needed, take the October LSAT
Finalize your personal statement andletters of recommendation
Make sure all documents needed to
complete your LSDAS report have been
submitted
Double-check your completed applica-
tions
November Send out your applications
If needed, obtain applications for fi-
nancial aid
December Contact law schools to confirm that
your applications were received and are
complete
January Send an updated transcript to the law
schools you applied to and to LSDAS
Submit completed financial aid forms
Begin preparing for law school inter-
views (some law schools may not con-
duct interviews)
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BUSINESS SCHOOL CONTINUTED:
October Send in your completed Round I appli-
cations
Send thank-you notes to the writers of
your letters of recommendation
November Prepare for Round I interviews
Start planning for Round II deadlines
December Begin receiving Round I decisions
Begin Round II applications and
materials if necessary
January Continue to receive Round I decisions
File for financial aid if necessary
Submit Round II applications
March Submit Round III applications if
necessary
April Receive decisions for Round II
May Receive decisions for Round III
LAW SCHOOL CONTINUED:
February Receive law school decisions
April Evaluate acceptances and financial aid of
Decide which school to attend
Submit your acceptance letter and notify
other schools
BBR Questions, Comments, ConcernAbout Us
Bruin Business Review is a student-run
online publication established in 2007 for
the purpose of providing the UCLA student
body with a convenient source of business
news and career information. We publish
every two weeks on the Internet, allowingour content to be accessible to everyone.
Our goal is to enrich our readers knowl-
edge of the business world and the career
options within it by presenting a wide
range of business-related topics in a non-
technical style. Our broad range of topics
encompasses current business news,
sume tips, employer and MBA progra
profiles, industry insight, and others. F
more information about BBR, vi
www.bruinbusinessreview.com.
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