3 Tips for Networking as an MBA Applicant

The network is perhaps the biggest benefit of an MBA.

But you don’t have to wait to step onto campus to start building your network. In fact, you can start building a network as early as the application phase. Stacy Blackman, founder of Stacy Blackman Consulting, recently offered a few tips on how applicants can start building their B-school network before they even begin their MBA experience.

UTILIZE SOCIAL MEDIA

When used effectively, social media can be a powerful medium to connect with others and build a network.

Blackman recommends following your target MBA programs on Twitter, LinkedIn, and Facebook as well as checking out official B-school blogs.

“Use these online vehicles to learn about the school and to connect personally,” Blackman writes. “Friend people who can be your peers. Once admitted, you can take all of this social networking one step further. Don’t attempt to friend any of the admissions folks on Facebook. But do feel free to follow them on Twitter. Engage by asking thoughtful questions about the admissions process, and learn all you can from them.”

However, experts also recommend connecting on social media with discretion.

“If you’ve only met virtually, I recommend asking permission and getting the green light first,” Sharon Joyce, a director at Fortuna Admissions, writes for P&Q. “I do not, however, recommend reaching out to alumni or students with whom you’ve not had a personal interaction or met face-to-face. Once you’ve crossed the acceptance threshold to become a member of that school’s community, it’s a different story. This is a murky area in terms of social media norms, but it’s also where your good judgement matters.

CONNECT WITH CURRENT STUDENTS

Blackman also suggests visiting campus in person, once they open, in order to meet with current students and learn more about opportunities.

“For example, if you’re interested in finance, ask someone to introduce you to the head of the finance club,” Blackman writes. “Also, find out who is running the women’s association if you’re a female candidate targeting that school.”

ATTEND MBA ADMISSIONS EVENTS

It’s a good idea to also attend as many MBA admissions events as possible. These events can be a great opportunity to gauge fit and build your network.

“As a bonus, attending an event shows your interest and that you have done your homework,” Blackman writes. “It makes a school feel loved. Everyone likes to feel loved, even admissions committee members.”

Sources: Stacy Blackman Consulting, P&Q

Columbia Business School 2019 graduation

Columbia Announces New Scholarship Fund

Columbia Business School is launching a groundbreaking fund that will provide full tuition to underrepresented B-school students.

The Perelman Scholarship Fund was made possible by Ronald O. Perelman, Chairman and CEO of MacAndrews & Forbes Incorporated, will be a permanently endowed source of financial aid at Columbia. The goal of the fund is to offer full tuition to underrepresented racial, ethnic, and socio-economic groups in order to build a more diverse generation of business leaders.

“The responsibility of charting Columbia Business School’s future in Manhattanville requires us to think deeply about the future of graduate business education in a rapidly changing world,” Columbia University President Lee C. Bollinger says in the press release. “No consideration is more important than creating a school dedicated to training leaders from the broadest possible range of backgrounds, to take on the many challenges we face as a global community. Ronald Perelman has done Columbia and the business community a great service by addressing this critical need.”

LACK OF DIVERSITY AT B-SCHOOLS

The lack of diversity at MBA programs isn’t anything new. At Harvard, Black MBA students make up roughly 5% of the class. And that number has been relatively stagnant for three decades, according to The Wall Street Journal.

Some say the issue largely stems from the MBA admissions process. Metrics such as undergraduate GPA and standardized test scores have been proven to be biased towards wealthier applicants and students.

“I think some of the things that universities need to be thinking about when they’re doing their admissions process is the value that candidates bring beyond just those traditional metrics,” Stella Ashaolu, founder and CEO of WeSolv, a company that connects talent with firms in need of diversification, tells P&Q. “People talk about grit. What in the students’ lives or experience have they had to overcome that has gotten them to where they are? Schools need to go to those channels where more underrepresented candidates are, and provide a lot more education and awareness around the MBA process and the value of their program. They need to source candidates from more non-traditional pools and pipelines.”

Perelman, the man behind the new scholarship at Columbia, hopes that the fund helps take a step in the right direction by opening up more opportunities for underrepresented applicants.

“I have spent a lifetime building business and I recognize that the success of those businesses is inextricably linked to their people,” Perelman adds in the press release. “In order for businesses and industries to thrive, it is imperative that we address and encourage diversity and inclusion. The Perelman Scholarship Fund is a purposeful contribution to that end. By helping Columbia’s Business School to attract the most talented students, the school, as well as the larger business community, will benefit. I am grateful and excited to be partnering with the School as we invest in the next generation of business leaders.”

Sources: Columbia Business School, The Wall Street Journal, P&Q, National Education Association

Does Skipping the GMAT Hurt Your Job Prospects?

In recent years, standardized testing – such as the GMAT – has been de-emphasized by B-schools. In fact, 67 of the top 100 B-schools have decided to officially go test-optional or actively promote test waiver policies.

But can skipping the GMAT come back to bite you when it comes to applying for jobs post-grad? Patrick Thomas, of The Wall Street Journal, recently reported the latest on how top companies view test scores when it comes to hiring.

THE EFFECT OF THE PANDEMIC

When the COVID-19 pandemic hit, many B-schools changed their testing policies and offered test waivers as testing in-person became nearly impossible. Additionally, the pandemic highlighted the long-standing issue around the lack of diversity in MBA admissions, in large part due to the use of standardized testing.

“The pandemic was making testing difficult, and for many people, last spring’s racial protests underlined the need to recruit students from a wider range of racial and socioeconomic backgrounds,” Thomas writes. “M.B.A. admissions-training courses, used to coach students on how to get into the most selective programs, can cost thousands of dollars.”

HOW TOP COMPANIES VIEW TESTING

For the most part, a majority of top companies including Bain, Goldman Sachs, and McKinsey have all put less emphasis on standardized testing when it comes to recruiting and hiring practices.

“I don’t mind one bit campuses waiving the GMAT requirement,” said Keith Bevans, a partner who leads recruiting for Bain, tells WSJ. “Business schools are admitting a much broader range of talent, and I expect to find strong candidates this fall in places I wouldn’t normally see them.”

Rather, top companies like Bain are starting to see that a test score isn’t always the only predictor of talent.

“If you’re at a top B-school, you probably have something amazing going for you anyway. If you were training for the Olympics rather than taking the GMAT, that tells me more about your competitiveness than if you can tell me the angle of this triangle,” Bevans tells WSJ.

Sources: The Wall Street Journal, P&Q

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