McDonough Dean Paul Almeida Delivers State of the School Address
Paul Almeida addressed faculty and staff at the annual State of the School event earlier this month. The newest dean of the McDonough School of Business discussed his vision for the school, as well as the future of business education, and commitment to interdisciplinary solutions. Continue reading…
What are the Most Common Business School Application Mistakes?
Nobody just strolls into business school and starts taking classes. Prospective MBAs must undergo a rigorous application and admission process before beginning coursework and earning credits toward an graduate degree. Continue reading…
The Boston vs. Washington DC Full-Time MBA Battle
Choosing the right city for your MBA program can be a bigger choice than it seems: given the connections and opportunities an MBA typically provides, the city where you pursue your degree will likely be the same city where your career begins and grows.
Even if you’ve narrowed down your business school search to the east coast, you’ve still got a number of top metros to choose from. So regardless if you’re looking south to Washington, D.C., or north to Boston, both metros will likely offer a number of benefits for up-and-coming business professionals.
Both D.C. and Boston offer a number of exceptional full-time MBA programs, giving a prospective MBA a lot to think about. Below, we’ll break down some of the biggest differences in location, programs, and job placement for each metro.
Location
As long as you can deal with snow, Boston is a multicultural hub of business that covers a variety of industries, from startups to high tech and the creative economy. Massachusetts is home to 30 Fortune 500 companies, with massive corporations like General Electric and Liberty Insurance Group centered within Boston. However, as the city continues to grow and improve, the cost of living is also climbing, with Boston ranking eight overall as the most expensive city in the United States.
If you are looking to use your business acumen in a government setting, there are few places better to go than the nation’s capital. With fifteen companies making the Fortune 500 list in the Washington DC metro area, there are a number of opportunities for MBAs to put their business skill to work, even outside of government agencies, with companies like Wal-Mart and Exxon Mobile leading the list. However, DC even outranks Boston for cost of living, ranking as the third most expensive city in the United States.
Washington Full-Time MBA Programs
The Washington DC metro has more than 35 higher education institutions with post-bachelor programs for business students. Featuring some of the top ranked MBA programs in the country, many of the DC programs focus on professional integrity and ethics, attempting to reflect its location in the country’s capital. Many of the MBA programs here also focus on placing business within a global context, encouraging students to gain real-world experience outside of the classroom to gain a better understanding of the global business community.
Full-Time MBA Programs in DC Include:
- George Mason University School of Business
- George Washington University School of Business
- Kogod School of Business – American University
- University of Maryland R.H. Smith School of Business
Boston Full-Time MBA Programs
The Boston metro features some of the top ranked and oldest business schools in the world, which focus on placing students within the global economy and encouraging study abroad opportunities that allow students to get hands-on experience in international business. Given Boston’s reputation as a growing business hub, many of the top jobs in the city may require an MBA.
Full-Time MBA Programs in Boston include:
- Sloan School of Management – MIT
- Harvard Business School
- Questrom School of Business – Boston University
- Sawyer Business School – Suffolk University
- Carroll School of Management – Boston College
Cost of MBA Programs
Cost can be an important consideration when choosing a degree program. The average tuition costs of the Washington DC programs mentioned above is roughly $82,090, though the number may be slightly less for local students. In Boston, the range may be slightly higher. Harvard Business School can cost up to $122,000 per year, but other quality programs in the Boston metro can also be found as low as $91,040.
Job Placement and Salary
The cost one is willing to spend on an MBA is often largely determined by the potential salary that can be made after obtaining the degree. Given that both Boston and DC are among the U.S. cities with the highest cost of living, salary may be an important determination in selecting a city to start your career. Thankfully, both cities offer the chance for high earning potential. According to PayScale, Boston MBA graduates can earn anywhere from $53,725 on average to $173,940. In Washington DC, where there is a slightly higher cost of living, salaries can range from $58,402 to $147,715.
Toronto’s Best Nonprofit MBA Options
It’s fair to say that the finance and consulting industries are the most popular for business school grads. But what about non-profits and social enterprises—where do they rank? While some assume that an MBA and working for a nonprofit do not go hand-in-hand, that’s not the case. Continue reading…
Been Waitlisted? Here’s What to Do (And Not Do)
There’s an art to the waitlist, and it can be mastered.
Remember, you’ve probably been waitlisted for a reason. For one, you’re qualified. Otherwise, you would have received a denial. Unfortunately for you, other candidates had a bit more of an edge. Maybe their GMAT scores or GPA was higher. However, your dream school might not be theirs, so there’s always that chance that enough applicants will deny the offer, and the school will, in turn, offer a place to you.
The waitlist can also serve as a sort of test for applicants the school isn’t 100 percent sure about. Here are a few simple tips to help you put your best foot forward while on the waitlist and show your dream school that it needs you just as much as you need it.
Follow Instructions
Schools are pretty clear about how they want you to respond to their notice. If they ask that you not send a letter, then don’t—no matter how much your heart aches to. If they ask for another letter of recommendation, send one as soon as possible. It’d be even more effective if a former colleague or mentor who attends/attended the school or works at it write the letter (assuming they know you personally). Don’t hesitate to do whatever the school asks from you, especially if it is your first choice. That’s the kind of attitude that may lead you where you want to go. But don’t do too much if the school doesn’t ask for it.
Last year, Clear Admit wrote about this dilemma, saying, “ignoring the adcom’s instructions is ultimately going to reflect badly on you. Though policies discouraging communication from waitlisted candidates may seem frustrating or unfair, it’s important to respect and abide by the preferences of each school.”
Clarify Your Intentions
If you plan to wait it out, it may be important to let the school know. If the school is your first choice, let your contact there know as well. Whatever it is that you plan to do next, inform the school. You must do all this, of course, without appearing too cloying and without disregarding whatever instructions the school provided in the waitlist notice. If schools know, however, that you’ll definitely accept their offer, there’s a better chance they’ll offer it to you than that waitlist applicant from whom they never heard back. They also want to know how interested you are, so keep in touch.
“There are candidates who are offered a place on the waitlist and then we never hear from them again. And there’s candidates who don’t overwhelm us with contact but at least stay in touch and help us remember them,” said James Holmen, Director of Admissions and Financial aid at Indiana University—Bloomington’s Kelley School of Business, to U.S. News.
Retake GMAT
Even if a school doesn’t ask this from you, it still might be a good idea to retake the GMAT. Some of the most common gaps in applications include a low GMAT score and GPA. If a school doesn’t accept you the first time around, chances are it had something to do with one of those factors. And your GMAT score, at least, you can change. Unless you scored an 800. Then, you’re a genius, and something is really wrong with the school to which you applied.
Really, though, any time something changes in your application, feel free to inform the school, which includes updated GMAT scores. But if you receive a promotion or a job change, that’s something worth telling them too.
Consider Plan B
This really is a personal decision. Are you in a rush to get that MBA? If so, then it might be a better idea to hop on it as soon as you can and forget that waitlist. You’ve likely been accepted into a number of other MBA programs. But have you been waitlisted at your dream school? Is it one of the best in the world? Well, then, it might be worth waiting it out because you have a chance. If they don’t go with you this time, you can increase your chances next round by doing some of the tips laid out above.
“If you’re wait-listed, it means you’re a great candidate,” U.S. News reported. “You can apply next year. So, honestly, a year plus or minus doesn’t change things.”
Good luck, and chill out. Everything will turn out for the best in the end.
UC Irvine Becomes Latest LA Business School to Offer GMAT/GRE Waiver
Applying for an MBA program is a long process: There’s plenty of applications, essays, and interviews involved in getting you into the program atop your list. To add insult to injury, many programs require a GMAT or GRE score, only adding to potential workload and stress. Continue reading…
