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MBA Applications Made EASY
Prepared and delivered by Iryna Shuvalova
Copyright © 2015 by Iryna ShuvalovaAny further use or distribution without the copyright holder’s explicit permission is strictly prohibited
Admissions CounselorIryna Shuvalova
• Iryna is an admissions counselor, with 6+ years of experience in the industry
• She holds graduate degrees in Philosophy, Translation and Comparative Literature (the latter obtained from Dartmouth College, USA – the smallest Ivy League university). She is an alumna of FLEX and Fulbright programs
• Over 250 clients of hers have been successfully admitted to Bachelor's, Master's, LLM, MBA and EMBA programs worldwide, in such top educational institutions as Berkeley, Cambridge, Chicago Booth, Columbia, Cornell, Duke, Emory, Harvard, HKUST, IE, IMD, INSEAD, LBS, LSE, MIT, Oxford, Ross, Stanford, UCLA, Wharton etc.).
• In addition to admissions counseling, Iryna is a prize-winning poet and translator. She published three collections of poetry, and her works have been translated into nine languages.
TWO KEY QUESTIONS TO ASK YOURSELF
Q1: Do I need an MBA?
Q2: Can I get in?
Things to consider when answering:
THE THIRD QUESTION TO CONSIDER:
WILL I BE ABLE TO AFFORD MBA?
School Total MBA Cost
Two-Year Tuition
Percent Getting Aid
Amount of aid/loans
1. Columbia
$168,307 $106,416 55% $115,716
2. Pennsylvania (Wharton)
$168,000 $108,018 76% NA
3. Stanford
$166,812 $106,236 75% $115,954
4. Chicago (Booth)
$165,190 $101,800 NA NA
7. Harvard
$158,800 $97,200 63% $113,038
Data from 2011:
2015 FT Rank & School
2014 Rank
Weighted Salary Pay Change
1. Harvard Business School 1 $179,910 96%
3. Penn (Wharton) 4 $171,543 90%
4. Stanford GSB 2 $177,089 80%
6. Columbia Business School 5 $169,252 106%
8. MIT (Sloan) 8 $158,926 97%
9. Chicago (Booth) 9 $161,289 97%
10. UC-Berkeley (Haas) 11 $158,518 88%
Data from 2015:
2015 tuition per year: Harvard ($56,175), Stanford ($59,550), MIT ($61,152), Columbia ($60,720)
HOW YOU CAN PAY FOR YOUR MBA:a.Private savingsb.Student loansc.External scholarshipsd.School-provided scholarships-need-based-merit-basede. Engaging your employer
ALWAYS check your specific schools!
Example: Stanford MBA Nonprofit/Public Service Loan Forgiveness Program
Its objective is to encourage MBAs to enter nonprofit and public-service sectors by reducing the financial impact of their educational debt on the relatively low salaries these sectors offer. The program accomplishes this by paying a percentage of graduates’ Stanford GSB loan obligations while they are employed in nonprofit or public service. The income eligibility for full loan forgiveness is updated annually.
Sources of Funding
A good option to check for loans is https://prodigyfinance.com/
LOOKING FOR CHEAPER OPTIONS
Three things to remember:
1.Consider the difference in prices in various MBA types (executive, full-time, part-time, online) – maybe you will consider a different program format
2.More expensive MBA’s usually do offer a better recognized brand and network – however, difference in education quality might not be so striking
3.Top schools might be more expensive, but they do tend to give out more money in scholarships.
Examples:
1. University of Michigan / Ross School of BusinessStudents receiving aid: 75 percentAverage aid package: $53,469Annual budget: $73,904Costs covered by aid: 72.3 percentEstimated costs remaining: $20,435
2. Massachusetts Institute of Technology / Sloan School of ManagementStudents receiving aid: 69 percentAverage aid package: $68,275Annual budget: $88,949Costs covered by aid: 76.7 percentEstimated costs remaining: $20,674
THE PATH OF THE SAMURAI(9-12 months)
PREPARATION: 1) assess your chances
2) find your advisor3) pass your tests
4) compile your school list5) make your application plan
ACTION:1) meet your schools
2) prepare your application package3) apply on time
4) pass the initial stage of selection5) pass your interview
YOU’RE IN!
Assess your chancesHarvard MBA Class of 2016 Profile Columbia MBA Class of 2016 Profile TOTAL MBA ENROLLMENT
936
APPLICATIONS 9,543
% ADMITTED 12%
YIELD* 89%
INTERNATIONAL** 332 35%
AVERAGE AGE 27
COUNTRIES REPRESENTED
73
GMAT SCORE RANGE 510-790
MEDIAN GMAT
AVERAGE GPA***
730
3.67
NORTH AMERICA 635 68%
United States 604 65%
ASIA 131 14%
EUROPE 88 9%
Applications Received: 5799
Admitted: 1056
Enrolled: 743, divided into 11 clusters
GMAT Scores (average): 716
GMAT Scores (middle 80%): 680–760
Undergraduate GPA (average): 3.5
Work Experience (average): 5 years
Work Experience (middle 80%): 3–7 years
Average Age: 28
Age Range (middle 80%): 25–30
International Citizens: 41%
Admissions rates:
School 2013 Accept Rate 2013 Apps 2013 Admits 2013
Enrolled
1. Harvard 11.3% 9,315 1,050 932
2. Stanford 6.8% 7,108 483 406
3. Chicago 21.0% 4,430 929 581
4. Wharton 18.7% 6,498 1,217 837
5. Kellogg 21.6% 5,453 1,177 646
6. MIT 13.1% 4,529 593 406
7. Columbia 18.1% 5,765 1,044 749
8. Tuck 20.8% 2,680 558 277 9. Duke 26.5% 3,150 834 433
10. Berkeley 14.3% 3,422 488 251
Pick Your SchoolWHAT TO CONSIDER:
a.your goals (network, employment, resources)
b. reputation / rankings (Financial Times, Bloomberg Businessweek, U.S. News & World Report)
c. how tough it is to get in
d. location (urban/rural, West Coast/East Coast etc.)
e. financial support offered (scholarships, loans)
f. feedback (student ambassadors, students, alumni)
g. desired program format (full-time, part-time, executive, online)
g. FIT (Example: the four Berkeley principles (Question the Status Quo; Confidence Without Attitude; Students Always; Beyond Yourself)
Planning Your Application
COLUMBIA MBA:
Application deadlinesJANUARY ENTRY: OCTOBER 8, 2014EARLY DECISION: OCTOBER 8, 2014MERIT FELLOWSHIP CONSIDERATION: JANUARY 7, 2015REGULAR DECISION: APRIL 15, 2015
Stanford MBA
Deadline Round 1
Round 2
Round 3
Submit your application by1
01 Oct 2014
07 Jan 2015
01 Apr 2015
We will notify you on2
10 Dec
2014
25 Mar 2015
06 May 2015
Your reply and deposit are due by
26 Feb 2015
30 Apr 2015
28 May 2015
ROLLING ADMISSIONS:
SET DEADLINES:VS
Your Test Scores
IELTSMax. 9.0Average 7.5
TOEFL Max. 120Average 110
More reasons to take GMAT seriously
School 2013 GMAT
2012 GMAT
2011 GMAT
2010 GMAT
2009 GMAT
5-Year Trend
1. Harvard Business School
727 724 724 724 719 +8
2. Stanford GSB 732 729 730 728 726 +6
3. Chicago (Booth) 723 720 719 715 714 +9
4. UPenn (Wharton) 725 718 718 718 718 +7
5. Northwestern (Kellogg)
713 708 712 714 706 +7
7. Columbia 716 715 716 712 713 +3
8. Dartmouth (Tuck)
718 717 718 716 712 +6
9. Duke (Fuqua) 694 690 689 697 687 +7
1. New professional achievements2. Volunteering and community work3. New interests and hobbies4. Extracurricular leadership5. Additional education6. Contests and competitions
How can I make my profile stronger?
The application package consists of the following:
ONLINE APPLICATION FORMTEST SCORESTRANSCRIPTSСURRENT RESUMEESSAYSRECOMMENDATIONS+ INTERVIEW
Prepare Your Application Docs
Some of my favorite MBA essay topics:
Fuqua: “A list of 25 random things about yourself”
Stanford: “What matters most to you, and why?
Sloan: “Write a professional recommendation on behalf of yourself”
Booth: “Chicago Booth values adventurous inquiry, diverse perspectives, and a collaborative exchange of ideas. This is us. Who are you?”
Useful resources:
1. http://poetsandquants.com/ excellent information resource on all things MBA-related
2. http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2015
arguably the most respected global MBA ranking out there
3. http://gmatclub.com/the best community portal and discussion board on MBA
topics
Thank you for your attention!
Iryna ShuvalovaAdmissions Consultant
Copyright © 2015 by Iryna Shuvalova