How can I get into the Berkeley MBA program?

Berkeley/Haas is one of the most rapidly rising MBA programs in the world and one of the 3-4 schools to have programs ranked among the top 10 across functional areas - strategy, general management, entrepreneurship, finance, marketing, etc. Previous Dean Rich Lyons's work on building endowment, hiring great faculty, building infrastructure and launching the 4 defining principles has made the program feature consistently in top 10 across rankings.

The school is very transparent about the profile of successful applicants.

• Academic excellence- GPA
• Strong test score: GMAT 726 (Mid 80% would be approx. 670-780)
• Leadership and career progression
• Achievements or Participation in Beyond Yourself activities
• Authentic application docs that show deep understanding and interest about the program (why Haas), why MBA and your goals
• Well balanced interests (academics + extracurricular)

Would urge you to visit the school admissions website and visit the campus or engage with alumni or students (Haas student ambassadors).

Good luck!

I want to pursue a global career in finance. How do I go about choosing the right school?

Having pursued projects with bulge bracket investment banks in NYC, in my opinion, best universities for finance (or for that matter any other subject) are those who provide you BOTH knowledge and the right career break. I’ve shared the school names towards the end of this discussion. If that’s what you’re looking for, feel free to scroll down.

For Finance, the location of the school is very important. Why? Since the best finance jobs reside in a few key financial hubs across the world. Having strong network in these locations is very important! So, if you want to work in a specific location, make sure that your school has a strong network there - if the school is local, even better.

NYC is the world’s biggest financial hub by far - nothing’s even close. After NYC (in no particular order), London, Paris, Berlin, Tokyo, HK, Singapore, Chicago, SFO, LA, Dubai, Mumbai are big financial hubs. Among the above cities, besides Tokyo (and to an extent Paris and Berlin), you can easily get by with English language skills. If you’re in a sales role like investment banking, knowledge of local language is strongly preferred - it helps you connect with clients way better.

Now on to schools - I’ve mentioned the prominent ones, but there are many more local options you could look at:

NYC: Columbia, NYU, Wharton - it’s in Philly, so considering it to be local, Harvard, Yale, MIT or a NYC based school with a strong local network and strength in finance (Gabelli, Rochester etc.) which offers MS.

Chicagoland: Chicago/Booth, NW/Kellogg and local schools (Loyola, IIIT etc.)

California (SFO and LA): Berkeley, Stanford, UCLA, Most UCs and local schools (SantaClara, Golden Gate etc.)

London: LBS, Oxbridge, LSE, Imperial, Warwick, Manchester

HK: CUHK, Chinese UHK, HKUST, U.Hong Kong

Singapore: NUS, Nanyang, SMU

Note: Having a CFA Level II would strengthen your application

Akshat Nagori's journey to Yale (Silver Scholar) MBA program

Akshat Nagori (Admit: Yale Silver Scholar, MBA, 2020 Intake)

GMAT: 760 (Q49, V44)

Education: B.Sc (Economics), NMIMS Mumbai, 3.8/4.0 GPA 

Work Experience: Nil

Post MBA Industry of Interest: Finance or Consulting

Interviews: Yale Silver Scholar MBA, Darden Future Years MBA, MIT MS Finance, NYU MS Quantitative Finance

Admits: Yale Silver Scholar (MBA), Darden Future Years (MBA), NYU, MS Quantitative Finance

When and why did you first consider getting a deferred MBA from a global B School? 

- I always had doing an MBA on my radar, and was initially considering staying in the country. Over time, I realised just how important diversity is to me, and decided to apply to B Schools outside the country (specifically to America) to really be exposed to different cultures and viewpoints.

Taking up the Silver Scholars program at SOM was a function of how I (a) Loved the SOM community and (b) appreciated the accelerated opportunity the program offers.

Gmat prep, reaction/thoughts after score

- My prep consisted of a TON of practice and most importantly, reflection.

I started with a ton of theory, and moved on to actually doing questions and mocks. An important note is to really take your scores on mocks seriously, and deeply evaluate where you're losing points - getting too many things wrong in a row will cost you.

Seeing the 760 was honestly more relieving than anything else. I really didn't want to have to write the GMAT again lol. But on a more serious note, whilst my score was super important (given the programs I was looking at), its important to keep in perspective that your score is just a small part of your entire 'story', and eventually your entire application

Your experience of the MBA application process. - Did anything surprise or shock you?

- In a word, holistic. I was really shocked by how much they cared about outside of just your grades. Actually being at Yale now, I can see why - each person here brings with them a specific skillset and personality, and that's so important for our overall learning.

Yale interview: How did you prepare, experience and thoughts 

- Without revealing too much, I'll say that the Silver Scholars interview was tough, to say the least. You need to know your motivations behind everything. My biggest interview prep technique was actually just introspecting deeply - WHY do I want to do an MBA? Why Yale? Why Now? These are answers that differ from person to person, and you need to figure out your own answers. For me, I knew from speaking to alumni and others that Yale's an incredibly collaborative place, and a strong community. This was super important to me, and I made sure it came through. 

Specialized inputs and mentoring your received 

This was probably marginally the most important aspect of it. While as a candidate you could easily be MBA - ready, for the top schools especially, I don't think that's enough. You also have to be a good fit at that school, it's so important. The specialised help I got from Sumeet and the CIE team was really understanding the personality of each B-School, and figuring out if I was a match. This not only helped me research the school with a better perspective, but also self select the schools I wanted to be at in the future. Understanding that you're a fit at a school (and demonstrating it) is (in my opinion) often overlooked while applying, and I cant overstate how important it is to get someone who can help walk you through what the schools are like, and whether you'd be a good fit.

Any advice for future applicants regarding the application process?

- Yep, relax! Getting into B School is not just about getting in, its also about doing well once you're there. Choose your schools wisely, and choose ones you vibe with, and you'd arguably be much happier. Also, focus on parts of your application you maybe don't actively think about as much, and figure out what your 'story' is - it may be your make or break.

For more tips on this or other topics or to get regular updates on new articles, write to me:

sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

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Wharton opens its Advance Access (Deferred MBA) to all

Wharton, one of the most prestigious B Schools in the world has recently opened up its Advance Access program (deferred MBA) to undergraduates outside of U.Penn. Initially launched in 2017, this program was hitherto open only to seniors from U.Penn.

What’s interesting is that the program so far had a very small class; only 10-15 students compared to Wharton full time (FT) MBA intake of 800+ students. By opening up doors to final year undergraduates or masters students (who don’t have any prior work experience), I expect the intake for the Advance Access program to gradually increase. Harvard Business School’s 2+2 deferred MBA program admits 100-120 students annually compared to HBS FT MBA enrollment of 900+ while Yale admits 10-15 silver scholars in comparison with FT MBA intake of 370-400.

Accepted students will work for 2 to 4 years before starting Wharton FT MBA program. Much like HBS 2+2, Wharton wants to admit innovative, intellectually curious people who are ready to impact the world. The application process is similar to that of the FT MBA with academic transcripts, resume, GMAT/GRE scores, 2 letters of recommendation, 2 essays and application fee of $100. Team-based interviews will scheduled by invitation only. Click here to know more about the program. Also refer to my article on How to get admit in Harvard Business School 2+2 program. Many of the learnings will apply to the Wharton MBA application.

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How to get into a Super Elite or Ivy league MBA if you have a low GPA

So you want to get in a top B School and are worried about a low GPA in undergrad? Rest assured knowing that are many smart things you can do to assuage concerns of the adcom for this area.

Before we discuss what you can do, do you know why GPA matters to the adcom? Simple, past performance is seen as a metric for future success. In other words, if you’ve done well academically in past, they feel that you would be as driven to excel academically in their rigorous MBA program. This matters since candidates who give it their all in class and juice out the most from the school experience end up with stronger learnings (and grades) which can impress employers and provide a positive impression about the school. Read my article here to gain an understanding of how adcom evaluates your application.

The adcoms also value a strong GPA since this is one of the important factors to judge the quality of incoming class. Quality of student body matters in influential rankings such as the US News or Financial Times and rankings are important in attracting new applications. Adcoms want to continue this virtuous cycle of attracting top talent who do well in class and in turn impress employers and help the school move up the rankings which in turn attracts more top talent. If you have a low GPA, you’re weakening this momentum they’ve worked hard to build – which will hence be detrimental to your chances to gain an admit. A look at incoming classes across Super Elites shows an average GPA of 3.5/4.0.

Clarification: Super Elites are the traditional US top B Schools (HBS, Stanford, U.Penn/Wharton, Berkeley/Haas, NW/Kellogg, Chicago/Booth, MIT, NW/Kellogg, Berkeley/Haas, Columbia, Michigan/Ross, Dartmouth/Tuck, Duke/Fuqua and Yale SOM) and INSEAD, HEC Paris and London Business School.

My past work with applicants with low GPAs who secured admits to multiple Super Elite schools showed that they worked hard on all other parameters such as test score, essays etc. that adcoms weigh heavily. Result, I helped those with GPAs < 2.8 get into top 15 schools with scholarship and those with GPA <3.0 get into Harvard, Stanford, Wharton with an average $30,000 scholarship.

Let’s understand what you can do if you have low GPA.

1)      Score high on your entrance tests – GMAT or GRE. For those of you having GPA lower than 3.0, aim for 700+ on GMAT. If you belong to competitive pools such as India or China, you should aim for 730+. A score of 670-700 would make you competitive to schools in top 30. A high test score represents your latest evidence to adcoms that if you put your mind to it, you can excel. The red flag suddenly appear that RED anymore. If you’re unable to get a 650+, it’s better not to apply only to the top schools – spread your applications among schools which are solid but expect more reasonable scores and GPAs.

2)      Take on extra coursework or certifications and excel. Take courses, especially in quantitative subjects such as statistics, data analytics, accounting or finance. Aim for an A- or better. HBS CORe (Credential Of Readiness) has 3 courses – Business Analytics, Economics for Managers and Financial Accounting and is a great way to establish your readiness for MBA (though it’s expensive). You can also look at similar courses from coursera.org, edx.org or IMS preschool (proschoolonline.com).

3)       Apply in Early decision or Round 1. Schools like Columbia, Duke/Fuqua, Virginia/Darden etc. have early action rounds before their regular rounds. Apply in these rounds. You’re making a statement to the school that they’re your top choice and adcoms will be more considerate to some red flags in your application if you apply in early action round. If you’ve missed early action, apply in round 1 for the same reasons mentioned above. While this is not that strong a statement as in early action, it’s still signals a stronger affinity towards that school.

4)   Don’t underplay the importance of weak grades – rather take time to explain. Grades are important to the adcom – period. Don’t try to convince them that it is not so. Also, don’t leave poor grades unexplained – nothing will miss the adcom’s eyes. It’s better to accept the reality and explain why you secured poor grades. Did you spend too much time in extracurriculars or leadership positions? Were you sick during a particular semester exam due to which overall grade looks poor? The optional essay is an excellent way to explain the gap.

5)  Showcase your strengths. An excellent way to overcome your low GPA is to focus on highlighting your strengths. I had one of past clients highlight that he had proficiency in 3 other foreign languages besides English and mention an employer who hired MBA grads for a particular geography which needed expertise in that language. He got into Kellogg with a 2.7 GPA.

- Did you achieve something remarkable in college in lieu of the low GPA?

- Did you achieve an accelerated career growth? Did you secure multiple promotions?

- Highlight something that makes you unique which is also something that B School will value

- You can also ask your recommender to highlight strengths that matter – say quantitative or analytical skills etc.

6)  Gain experience or internship with a prestigious employer. If McKinsey and Goldman Sachs hired you, they saw something they liked. This will boost the adcoms confidence that you have the DNA to belong to a top B School.

7)  Put up an outstanding written application. Well crafted, engaging stories can help you paint an inspiring world around the adcom reader. Help her imagine what you’re saying instead of just listing down your stories. The impact of well written, imaginative essays can’t be overstated. Once you’re close in terms of GPA and test score, your essays will tip adcom over into providing you an admit.

For more tips on this or other topics or to get regular updates on new articles, write to me:

sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

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Deferred MBA programs: An early ticket to the Ivy League and elite global schools for Indian graduates

While engaging with students from one of the top IITs a few months back, I sensed a strong interest in knowing more about ‘Deferred MBA programs’. This interest resurfaced during a seminar at a top NIT recently and so I decided to pen down this article that covers essential facts about deferred MBA.

How is the deferred MBA different from the regular MBA?

Deferred MBA, as the term suggests, means ‘postponed MBA’. In a deferred MBA, you secure the admit in the final year of your undergraduate or masters degree (as long as you don’t have any prior work experience) and join the regular full time MBA program at the school atleast 2 years later, though programs like the Yale Silver Scholar are notable exceptions. Given that the average age of regular MBA admit of a top global B School is 26-28 years, it means regular MBA applicants have an experience of around 5 years. Deferred MBA admits who join the regular MBA after completing the required work experience sit in the same classes with more experienced classmates and have access to same employment opportunities as them. Thus a deferred MBA can be an accelerated option for jumpstarting your career.

Key Advantages and Watchouts for Deferred MBA

Advantages

Watchouts

·         You start early and can save anywhere from 2 to 5 years vs. candidates who pursue a regular MBA. The gain in earnings in form of salary and a faster track in management can result in a much better ROI and faster student loan repayment ·         You have the assurance of going to a top school way in advance and can use the intervening years to gain targeted learnings from your job in order to maximize your impending B School experience ·         As a student, you have more time than a working professional to complete the demanding MBA applications ·         Experience of holding your own and collaborating with peers with higher professional experience while pursuing an MBA. Any senior manager will attest to the value of influencing without authority and negotiation skills for a corporate career ·         Peace of mind of having an assured admit

·         If you change your mind about pursuing an MBA in those intervening years, you’ll lose your deposit money ·         It’s your responsibility to get an ‘acceptable’ job prior to joining the regular MBA and that job has been be ratified by the school ·         It’s more challenging to be able to fund B School tuition and living expenses with a limited earnings from the short professional experience prior to MBA

Key Evaluation Criteria for deferred MBA applicants:

•           Ability to handle academic rigor (GPA, test score)
•           Leadership (Positions of responsibility on or off campus)
•           Maturity (Ability to handle sticky situations well)
•           Analytical/Quantitative Aptitude
•           Strong Resume and Letters of Recommendation
•           Internships and impact made therein

Program Options:

UNIVERSITY	PROGRAMS accepting applicants without work experience
Chicago/Booth	Chicago Booth Scholars Program
Brigham Young University: Marriott	Graduate+2
Georgia Institute of Technology: Scheller	MBA Pathway
Harvard Business School	Harvard 2+2
IESE	IESE’s Young Talent Path (YTP)
Indian School of Business	ISB Young Leader Programme
McCombs School of Business	MBA (no early action program available)
MiT Sloan	MIT Sloan MBA Early Admission
NYU Stern	MBA (no early action program available)
Penn Wharton	Advance Access MBA
Rollins Crummer Graduate Schools of Business	Crummer Early Advantage MBA
Rutegers Business Schools	The Rutgers Future Leaders 2+2 program
SMU: Cox	Accelerated MBA
Stanford Graduate School of Business	Deferred enrollment
University of Virginia	Future Year Scholar Program
Yale School of Management	The Silver Scholars Program
University of Iowa Tippie	Take2 Deferred Admission Program
University of Minnesota Carlson	MBA in Two
Kelley School of Business	Kelley Accelerated Admissions Program for college seniors

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sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

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A recent Michigan Ross MBA (US News Rank #9) Admit's story

Shrikant gave it adequate time and adopted an authentic approach in his application to secure admit in one of the most coveted Global MBA programs

Profile Snapshot

Shrikanth M

GMAT: 750

Education: B.Tech (CS), MIT, Manipal GPA: 8.6/10

Work Experience: 4 years, 10 Months with US-based Big 3 Technology company

Post MBA Industry of Interest: Management Consulting

Interview Calls: Michigan (Ross), U.Penn (Wharton) 

When and why did you first consider getting a global MBA?

It was 4 years into my work at Microsoft, the learning curve had been extremely steep and I had gained a lot of exposure at sales strategies, business development and working with small businesses. I felt uniquely positioned to take the next steps towards my goal of becoming a management consultant and decided that an MBA will provision me with right platform and tools to make the shift. The decision to pursue a global MBA was guided by the fact that I wanted a diverse experience and a school that provided with hands-on experiences.

You scored high on GMAT, can you share what you did to prepare for the test?

I tried to be very patient with my preparation and did lot of questions, everything from the official guide, to multiple supplement course books and online exams. I consistently tested my self over weekends to get comfortable with the format. In my opinion the key is to find a balance between accuracy and speed. I would have practiced over 1000 questions for each quant and verbal.

Close to the exam I was very comfortable with the format and key concepts that are examined through the test. Given that I was working while I was preparing, gave me very little free time and hence I decided to study on my own and work at my pace. I ensured I gave myself 2.5 – 3 months of prep time before attempting the exam.

Describe your test day experience?

I had taken a couple of days off from work right before my test day, and used that time revise and more importantly rest. On test day I was fortunately calm and relaxed. I had decided my strategy while attempting the exam (thanks to the numerous mock tests I had given), and executed on the same. I tried to give every question enough time, but mindfully moved on when I was stumped.

What should one do to ace the GMAT?

Most things that the GMAT examines, have been taught to a lot of us during school, hence, after a brief revision of key concepts. I would recommend attempting questions of varying difficulty and a thorough post-mortem of the attempts. This will not only allow for an early grasp of the format but also allow one to practicing balancing speed and accuracy. However, in case some concepts are unclear or new for an aspirant, I would strongly recommend pursuing alternate material/sources like classes (offline/online).

Tell us your experience of the MBA application process. Did anything surprise or shock you?

The MBA application process was one that I learned a lot from, it pushed me to introspect and analyse what my goals were, both long term and short term. I was shocked when I saw that what schools demanded beyond score and GPA’s was the clarity of thought and its expression. I am extremely grateful to Sumeet for helping me form concrete ideas and helping me express them impactfully! Its important to note that building your story can be a tedious process and to give adequate justice, one must start their research early.

Tell us about Ross School and why you applied there?

While Ross is revered as one of the top MBA schools globally an in the US, what attracted me most was the university-town warm culture and their academic focus on action-based learning. It was clear that they make a targeted effort to foster their culture through avenues like MTrek, MAP, Student Funds, etc. I was drawn to this, given my priorities that were hand-on learning and diversity in experience.

Any advice for future applicants regarding the application process?

I can’t stress enough on giving active time to every part of the process, whether its GMAT, Resume, Essays, and even the small parts of the application. Iteratively reflecting on your story with the help of an unbiased guide will help you form your most impactful application. So start early and once again provide active-time in your application every day.

For more tips on this or other topics or to get regular updates on new articles, write to me:

sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

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