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Wharton Tops Financial Times Ranking Again After Last Year’s Absence

After a surprising absence from the 2023 Financial Times global ranking of business schools, the Wharton School of the University of Pennsylvania was not only back on the list this year but in first place. Wharton was left out of last year’s survey due to not being able to meet the alumni response rate needed to participate.

Columbia Business School, which was ranked first in 2023, was third this year. INSEAD stood in second place both years. Nearly half of the ten top-ranked schools this year were international: SDA Bocconi, which is based in Italy, shared the third place with Columbia Business School, while the Spanish IESE Business School was fifth and London Business School came in eighth.

Some of the more notable shifts in position included the Stanford Graduate School of Business’s fall from fourth place to 23rd. The school did rank first in the alumni network category, which measures post-graduation alumni satisfaction. The Ross School of Business at the University of Michigan was ranked 26th in 2023 but was not included in the 2024 survey for the same reason that left Wharton out last year.

The MBA Admissions Deadline Is Approaching, and I Do Not Have My GMAT Score!

When business schools announce their application deadlines, or as those dates near, I often hear from candidates who do not yet have the GMAT score they want. What to do?

First, do a little research. What kinds of scores are posted for the schools to which you plan to apply? Check their websites; most will publish scores for admitted students. If you cannot find scores for a certain program, you can try checking various MBA ranking reports (though many require you to buy the information). How far are you from the goal?

Next, consult the experts. First, talk to an admissions consultant (hint, hint, mbaMission) to gain help in deciding how far you really need to go with the GMAT. The general rule is that you would like to be at or above the average to be competitive for a certain school, but you may need to push higher (or you might get away with a lower score), depending on other aspects of your application profile. Be sure to discuss multiple scenarios: if I apply first round, can I get away with a slightly lower GMAT score? If I wait to apply second round, is the possibility of a higher GMAT score likely to make much of a difference? (Disclaimer: Of course, nobody can tell you whether you will definitely get into any particular school, just as nobody can tell you that taking the test again will definitely net you a higher score. As always, you take your chances!)

When you have an idea of your “ideal” goal score, talk to some GMAT experts to see whether your desired goal score and your time frame are reasonable, given your starting point. If someone tells me that she just scored a 600 [in the classic GMAT exam] and wants a 720 in 30 days, that person has an “expectation adjustment” conversation in her near future, because not many people would be able to raise their score by 120 points (particularly to such a high final score) in only one month.

Next, think about what resources would help you to learn better than you have in the past. Online forums? A friend who has already taken the test? A private tutor? A mix of all three? (I am not suggesting a course here, because I am assuming that we are talking about six weeks or fewer, in which case—if you are going to spend money—you might as well spend it on a tutor. That will give you much more targeted and customized help, which is crucial in such a short time frame. If you have more time, though, add “a course?” to the list of possibilities.)

You may have to make a tough choice between going for your goal score while postponing your application and lowering your goal score while sticking to your application time frame. Either way, take advantage of the expert advice out there to help you with this decision.

Two Boston-Based MBAs: Public and Nonprofit Management at Boston University and Core Values at Boston College

Public and Nonprofit MBA at Boston University - mbaMission

Boston University (BU) Questrom School of Business

Since 1973, the Boston University (BU) Questrom School of Business (formerly the School of Management) has offered a Social Impact MBA (formerly the Public & Nonprofit Management MBA), specifically designed to cultivate business management skills that can make a real difference in the world. Standing at fifth among the best MBA programs for nonprofit in the Princeton Review 2022 ranking (the school was not included in the nonprofit ranking in 2023), Questrom exposes Social Impact students to a robust general management core curriculum, mirroring that of the full-time MBA program, with one additional core course titled “Social Impact: Business, Society, and the Natural Environment.” Students in the Social Impact MBA program take ten elective courses, just like students in the full-time MBA program, but four of the ten must focus on social impact. Electives that fulfill the requirement include such courses as “Social Impact Field Seminar,” “Health Sector Issues and Opportunities,” “Environmentally Sustainable Supply Chains,” and “Starting New Ventures.”

Core Values at Boston College’s Carroll School of Management - mbaMission

Boston College’s Carroll School of Management

Nearby, at Boston College’s (BC’s) Carroll School of Management, students enjoy a close-knit classroom environment in which they gain exposure to broad management skills, with a particular emphasis on business ethics. Both the school’s curriculum and the student community engender a set of core values: “honesty and integrity,” “mutual respect,” “pursuit of excellence,” and “personal accountability.” In addition to, for example, taking three courses on data analytics, full-time MBA students at the Carroll School must complete a 20-hour community service requirement, which the school believes will help instill in its MBAs an appreciation for and a spirit of giving back to the community.

These values are also reflected in the school’s core courses, which teach students to think critically about the challenges involved in business leadership. As one graduate commented in a past Bloomberg Businessweek profile of the Carroll School, “In the background of your core classes, and many electives, is a strong consideration on the moral and ethical dilemmas that often arise in the business world. I never felt that ‘morality’ was being pushed on us, but the consequences of each decision we make were always placed in front of us and we were left to make up our own mind.”

Ace the GMAT Essay? No, Thanks!

Please note that in this article, we discuss the classic GMAT test, not the new GMAT Focus.

We all know that the GMAT essay is scored separately and that the schools do not care as much about the essay score. We also know we have to write the essays first thing, before we get to the more important Quant and Verbal sections (or even Integrated Reasoning), so we do not want to use up too much brainpower on the essay. Still, we cannot just bomb this section; the schools do care about the essay somewhat. So how do we do a good enough job without expending so much energy that we are negatively affected during the multiple-choice portion of the test?

We need to develop a template, an organizational framework on which to hang our writing. The template will not, of course, tell us exactly what to write. For that, we need the actual essay prompt, which we will not see until we take the test. We can, however, determine how to organize the information ahead of time, as well as the general kinds of messages we need to convey at various points throughout.

The template should tell us the following:

  • how many paragraphs to use
  • the primary purpose of each of those paragraphs
  • the kinds of information that need to be conveyed in each paragraph

The template will vary a little bit from person to person; the important thing is to have a consistent template for yourself that you have worked out in advance of the official test.

As a general rule, essays should have either four or five paragraphs total. The first paragraph is always the introduction, the last paragraph is always the conclusion, and the body (middle) paragraphs are for the examples we choose to use.

Each paragraph should contain certain things; these are listed in the following sections. The information does not need to be presented in the given order, though; just make sure that each paragraph does contain the necessary information in some sort of clear and logical order. In addition, the information listed here is the minimum necessary info; you can certainly add more where appropriate.

Brainstorming

First, read the essay prompt. It will look/feel just like the Critical Reasoning (CR) arguments we see on the Verbal portion of the test, so tackle it in the same way! The argument will most closely resemble Assumption Family arguments, so find the conclusion and make sure you understand how the author is trying to support their conclusion. Next, brainstorm any assumptions* that you can think of and jot these down (or type them into the essay response area).

*Note: if you have not started studying CR Assumption Family questions yet, assumptions are unstated pieces of information that the author is assuming must be true to draw their conclusion.

Next, articulate flaws. Any assumptions are automatically flaws, because the author has not established that those assumptions are, in fact, true. You may also think of other flaws along the way.

Finally, pick your two or three best flaws; these will form the basis of your essay.

This whole process should take roughly three to four minutes. Many people find this the hardest part of writing an essay; you can practice by opening up the essay chapter of your Official Guide book and simply brainstorming for one essay prompt. Do not write the whole essay—just do the brainstorming portion once a day (only five minutes out of your day!) for a week or two, and you will become much more skilled at this step.

First Paragraph

  • summarize the issue
  • state a thesis
  • acknowledge that the other side does have some merit
  • introduce your examples
  • three to five sentences total

First, briefly summarize the conclusion of the given argument in one to two sentences. Make sure to write using your own words (do not simply quote the exact language from the essay prompt, though using the same word here or there is fine).

The first paragraph should also contain a thesis statement. The thesis is typically one sentence and conveys to the reader your overall message or point for the essay that you wrote. For the argument essay, you can write most of your thesis sentence before you get to the test! You already know that the argument will contain flaws, and that you will be discussing how those flaws hurt the author’s conclusion. Guess what? That is always your thesis!

“While the argument does have some merit, there are several serious flaws which serve to undermine the validity of the author’s conclusion that XYZ.”

DO NOT USE THAT EXACT SENTENCE. They are going to get suspicious if hundreds of people use the same sentence. (Besides, that is my sentence. Come up with your own!)

Note the opening clause: “While the argument does have some merit.” This is what is called acknowledging the other side. We do not say, “Hey, your argument is completely terrible! There’s nothing good about it at all!” We acknowledge that some parts may be okay, or some people may feel differently, but our position is that the flaws are the most important issue (that is, our thesis is the most important thing).

Notice one other thing that I do not say: I do not say, “I think.” I state my thesis as though it is fact and reasonable people surely agree with me. That is a hallmark of a persuasive essay.

Finally, the first paragraph needs to introduce whatever examples we are going to use in the body paragraphs. Do not launch into the examples fully; that will come later. Do, though, mention the two or three flaws that you plan to discuss in the essay.

Body Paragraphs

Each flaw gets its own paragraph, so you will write either two or three body paragraphs of four to six sentences each. (I personally pick my two best flaws, so I write two body paragraphs. Remember, we just need to be good enough!)

Your goal here is to support your thesis statement. In each paragraph,

  • introduce one flaw (do not repeat the exact language from the prompt)
  • explain why it is a flaw (how does this make the conclusion less likely to be true?)
  • suggest ways to fix the flaw (you are fixing the flaw, not changing the conclusion; what could the author do to strengthen their argument?)

For example, let us say that an argument claims that firing half of a company’s employees will help the company to reduce costs and therefore become more profitable. What is the conclusion, what supports that conclusion, and what assumptions is the author making?

While it’s certainly true that chopping half of your payroll will reduce costs, it doesn’t necessarily follow that the company will become more profitable! That loss of personnel may negatively impact revenues, reduce productivity, hurt morale of the remaining employees, and so on. The author is assuming that no such adverse effects will result from this action; that’s a flaw in their thinking.

The author of such an argument could bolster the claim by, for example, presenting evidence that half of the employees are truly deadweight and firing them would not affect the company adversely. (Do not worry about whether this is likely, whether such evidence actually exists, or even whether this is the best way to improve profitability. Your job is only to strengthen the author’s existing argument a little bit. If the author could actually produce evidence showing that there would not be adverse effects from such layoffs, then their conclusion would be strengthened. Period.)

Conclusion Paragraph

  • restate your thesis (using new words)
  • reacknowledge the other side (using new words)
  • briefly summarize how your examples supported your thesis (using new words)
  • three to four sentences

Are you noticing a theme within these bullet points? Basically, the conclusion paragraph is not going to contain much new information. It is a conclusion; the major points should already have been made earlier in the essay. What you are doing now is tying everything together in one neat package: “Yes, the other side has some merit, but here is my point of view and, by the way, I proved my case using examples X and Y.”

Before you go into the real test, you should have a fully developed template, so that all you have to do is come up with your two examples and then hang your words onto your framework. This does not mean prewriting and memorizing actual sentences, but do know in general the kinds of points you want to make in each paragraph. Practice with the above as a starting point until you develop something with which you are comfortable. Do not forget to leave some time to proof your essay; a few typos is okay, but systematic errors will lower your score.

Manhattan Prep is one of the world’s leading test prep providers. Every one of its instructors has a 99th percentile score on the GMAT and substantial teaching experience. The result? Two decades and thousands of satisfied students. By providing an outstanding curriculum and the highest quality instructors in the industry, it empowers students to accomplish their goals. Manhattan Prep allows you to sit in on any of its live, online GMAT classes for free! Check out a trial class today.

Professor Profiles: Lourdes S. Casanova, Cornell Johnson

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Many MBA applicants feel that they are purchasing a brand when they choose a business school. However, the educational experience you will have is what is crucial to your future, and no one will affect your education more than your professors. Today, we focus on Lourdes S. Casanova from the Johnson Graduate School of Management at Cornell University.

Now a senior lecturer at Cornell Johnson, Lourdes S. Casanova joined the school in 2012 after a lengthy international career. Casanova taught at INSEAD in France for nearly 25 years and served as a visiting professor at such schools as ESADE, the University of Oxford, and the University of Zurich. At Johnson, she is also the director of the school’s Emerging Markets Institute.

Casanova teaches such courses as “Leaders in Emerging Markets,” which brings executives from companies in emerging markets to speak on campus, and “Current Global Issues for Business: China, India, Latin America, Europe and Beyond.” Other recent courses that Casanova has taught include “Disruptive Innovative Companies from China and Other Emerging Markets” and “Entrepreneurship and Alternative Finance in Emerging Economies.” She has been chosen as one of the most influential Ibero-American women by Esglobal three times.

For more information about Cornell Johnson and 16 other top-ranked business schools, check out our free mbaMission Insider’s Guides.


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