International Student Admissions

Accepted gives a good summary of what U.S. MBA programs are looking for from their international applicants. The focus of the post is on Chinese applicants but the lessons are universal -  

• Demonstrated experience in an international business environment
• Applicants who have made an impact
• Rising stars, recognized by senior management
• Leaders, managers, and mentors to others
• Passionate, directed people
• Community activists
• Applicants who understand why they need an MBA from an American institution
• Communicators who ace the interview

Businessweek has an interesting article on the rising cost of MBA education and the implications of this upward trend in costs on international students –   

[...] Yet the outlook isn’t as optimistic for everyone. International students who are more likely to return home to jobs and be paid in local currency will carry MBA debt in U.S. dollars, making it riskier to loan foreign students the money to attend B-school. “Even if they get a huge job [in their home countries] at $35,000 per year, you can’t service that debt, ” says Rosemaria Martinelli, head of MBA admissions and financial aid at Wharton.

Among international students, default rates are now around 10% to 15%, says Sue Roberts, president of Student Loan Corp., a subsidiary of Citibank. “Our experience is that if they go to their home countries, the default rates are higher.”

This story reinforces the importance of students being mindful of the true costs of attendance compared to future predicted earnings. If these calculations are not done correctly, students can be left with a heavy financial burden after graduation.

Cornell University’s Johnson School is known for for its close-knit community. Student’s and graduates are proud of the fact that teamwork is an important part of the school’s culture. So says Randall Sawyer, assistant dean of admissions and financial aid, during a recent chat event. He fielded questions from the audience and Bloomberg Businessweek reporter Francesca Di Meglio about everything from the recruiting outlook to the chances for international applicants. I have selected a few portions that may be of interest to international students -

Ansho: I have a 650 [GMAT score] and a degree in engineering from India plus five years of work experience in business development. What are my chances of getting an interview invite?

RandallAtCornell: We like your five years work experience, but your GMAT is a bit lower than what we would like to see. Our median this year will be 700, and our average is in the 690 space. However, there are more than 20 different things we look at in your file, and while the numbers are good benchmarks, we really look at you as a person and professional.

lakshya: What is the average GMAT score required for the Johnson School?

RandallAtCornell: There is no minimum GMAT score required for Cornell. Most of our students score in the 640 to 750 range, and last year more than half the class scored 710 or better.

MFaulkner: Please explain the emphasis that is placed on an applicant’s GMAT score when the admissions committee is evaluating an individual’s application. Furthermore, how close to the school’s published GMAT score mean would you recommend an applicant approach to feel confident with that aspect of his application? (For example, 10, 20, or 30 points below or above the mean?)

RandallAtCornell: The GMAT score is important, with the quant end of it being most important because we have seen a correlation between quant scores and success in our core courses. I would urge students to score in the 680 and up range.

MFaulkner: What is the most critical aspect of an applicant’s application?

RandallAtCornell: The most critical aspect of the application is the essay. We have [applicants write] three, and we read them closely. They tell us a lot about you. However, should you get an interview, then the interview becomes even more important than the essays because of personal interaction.

This is just a taste, be sure to read it all!

I’d like to recommend the following article to any student considering graduate study in the U.S. It has an excellent summary of the benfits of undertaiking such study as well as a collection of perspectives of international students that have taken the U.S. graduate school route. A taste -

Last year, some 2,500 students packed their bags to take their postgraduate degrees in the United States. It was a record for Britons going to North America, with student numbers increasing 4 per cent on the previous year. Such statistics leave prospective postgraduates at home scratching their heads with two questions: what’s so special about studying across the pond, and if the US really is a better place to study, how do you get in on the action?

There are three big advantages to studying in the United States. The first is money. Vast sums are invested in research and development on American campuses, which are already much better endowed than their British counterparts. This doesn’t just mean more free drinks events; it also means having the resources to carry out expensive top-level research that leads to breakthroughs and publications, be it in healthcare or rocket science.

(continue reading…)