Manhattan Review Blog - Test Prep, Admissions Consulting and Career Training

There seems to be an interesting trend happening amongst undergraduate liberal arts programs all across the country.  While it seems a course in finance or general business was hardly what undergrads were looking for, there is now a higher demand for such courses.

Business Week’s reporter Adam Fusfeld claims: “For liberal arts students, a little bit of business knowhow is a powerful thing, giving them the confidence they need to work in a business setting.”  For students vying for full-time jobs after graduation, schools don’t want them to appear at a disadvantage.  Hence, courses like Introduction to Accounting, Business Management, Human Resources Management and Business Communications are becoming options for Philosophy, English and History majors.  Why the sudden interest in business courses?  Could it be the recent ongoing economic recession?

Some schools, like Northwestern, which terminated its undergraduate business program 41 years ago, are offering certificate programs for students who have fulfilled a certain number of credits with a B-average GPA.  Such types of certificates appear to appeal to students, as it’s something they can add to their resumes when applying for internships and full-time employment. Since the start of the economic downturn in 2008, there has been an increased interest in such business certificate-like undergraduate business programs all over the country.

While the United States still holds a firm stance on the importance of a broad liberal arts education during one’s undergraduate years, perhaps a basic understanding of finance and business would be advantageous to all students, no matter what their eventual focus may be.  While the recession has certainly caused some negative effects on the workplace, perhaps this is an unusual advantage for all undergraduate-bound students in the future.

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According to a recent article in Business Week titled: “GMAT: The MBA Job Seeker’s Best Friend” – it appears that many schools are encouraging students to take the GMAT time and time again.  A very eye-opening article by Anne VanderMey, it seems the GMAT is not only important for MBA admittance, but also for job recruiting after graduation.

According to VanderMey, with companies being flooded with resumes due to the recent economic recession, it appears recruiters are using GMAT scores to weed out applicants.  This is unusual, as never before has the GMAT taken on such added weight, but it appears for some companies, your score could very well be the factor that gets you an actual interview.

Due to this, professors and career services directors are encouraging students to retake the GMAT time and time again thanks to the tough recruiting climate.  VanderMey profiles several schools that are taking this advice seriously and putting it into practice:

• University of Texas’s McCombs School of Business: Stacey Rudnick, director of MBA services is advising recent admits with mediocre GMAT scores to consider retaking the test if they think they can score higher.
• University of Notre Dame’s Mendoza College of Business: Mendoza sent a letter to its 2011 class reminding students of the importance of the GMAT when applying to prestigious firms.  The school has offered a four-day crash course for students who wish to retake the test.  Mendoza’s director of MBA career development claims: “We see a large number of consulting companies, some investment banks and a couple of corporations all looking at both GMAT and undergrad MBA GPAs.  These companies are looking for a sustained record of academic excellence.”
• Thunderbird School of Global Management: Kip Harrel, president of the MBA Career Services Council, claims that students’ average GMAT score is a primary factor in deciding where companies choose to recruit.
• Darden School of Business: Jack Oakes, director of career services, claims that he sometimes advises candidates with scores in the mid-600s to retake the test if they are looking to land top-shelf consulting or banking positions.
• Goizueta Business School: Wendy Tsung, executive director of MBA career services, states: “Because the economy is so bad, and there’s so many people applying for positions, companies are looking for different ways to reduce the number of resumes that they go through.  Of the reasons to throw out an application – GPA, undergraduate institution, years of work experience – the GMAT is an ‘easy one.’”

As suspected, a person’s quantitative GMAT score does seem to be linked to salary while some GMAT scores appear to be linked to managerial status. However, VanderMey informs us that not every company considers GMAT scores to be important when considering new hires.  At the University of Connecticut’s School of Business, for example, the executive director was never even asked for GMAT scores from its student body.

It appears, however, that a high GMAT score simply helps you get your foot in the door for the actual interview.  A high score, in general, won’t get you the job of your dreams, but it will get you into speaking with someone face-to-face.  VanderMey quotes Mareza Larizadeh, the founder of Doostang, a career networking site popular with MBA students: “The GMAT isn’t going to get you in.  But it’s something that can prevent you from getting in the door.”

While it seems the GMAT is becoming important for more than just MBA admittance, VanderMey concludes (along with the above schools) that ultimately, the personal elements of the job search – interviews and references, primarily, will always be more important than test scores.

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Dr. Joern Meissner, Founder and Chairman of Manhattan Review, has written an opinion editorial for the MBA supplement of one of Germany’s leading daily newspapers, the Frankfurter Allgemeine Zeitung (FAZ).

In particular, he discusses which characteristics a successful MBA student needs to have. He argues that good quantitative skills are essential for a manager, but alone are not enough. Social skills and teamwork are mandatory supplements for long-term success and have often been neglected in business school education. He proceeds then to discuss Lancaster University Management School’s leadership role in integrating these aspects into the current curriculum.

Dr. Meissner also mentions well-known academic Henry Mintzberg who is famous for his criticism of current MBA Programs. One of his arguments is that while case studies are in theory useful to get a feel for the daily life of a manager, they also undermine the importance of real-life work experience. The fact is that co-workers and subordinates aren’t just a set of data, but complex individuals who require more than analysis and strategies to be led effectively.

The founder of Manhattan Review already stressed the importance of a strong and impressive personality in addition to academic achievements in his previous FAZ Article from 2007. In his current article, he shows how this translates into the requirements for success in the business world. Quantitative skills are merely half the bet and social competence is a must for aspiring top managers.

An English translation, titled “It’s in the Mix: The Career Success Factors of MBA Graduates” is available in his blog.

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Manhattan Review is proud to announce its popular MBA Gate event is now available in New York City, Chicago, Boston and Washington DC! Our unique Business School admissions event, MBA Gate, has been well attended since its launch in 2000. The tour focuses on honing young professionals’ career building skills and providing face-to-face in-depth interaction with business schools around the world.

Why Should You Attend?

• No Entrance Fee to A Popular Event with Nearly 10-Year History
• Career Building Skills Crash Course at a Central Location (Typical Topics – Interview Skills, Presentation Skills, Business Writing, Resume Building, Negotiation Skills, Cultural Sensitivity, etc)
• Face-To-Face Interaction and in-depth Discussion with key recruiters from top schools around the world
• Short-Listed for a dedicated Q&A with admissions officers (Invite Only)
• Learn From Experts And Successful Professionals

When:

• New York (Wednesday, September 9, 09: 6pm-10pm)
• Chicago (Saturday, September 12, 09: 1pm-5pm)
• Boston (Wednesday, September 16, 09: 6pm-10pm)
• Washington DC (Saturday, September 19, 09: 1pm-5pm)

Who Should Attend:

• College Grads (up to 5 years of work experience)
• Young Professionals interested in honing in career building skills
• Anyone interested in MBA (Full- or Part-Time or Executive) program
• Anyone interested in Continuing Education Programs

RSVP

Register here (or call 212.997.1660 directly)

For more information about our GMAT preparation courses and MBA Admissions Consulting services, please feel free to email us directly. Thanks!

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Issues of gender are discussed during the studies in relation to the experience of women in the workforce; notably, the differing role of networks for men and women has been an interesting topic of discussion in the program. They found that women tend to network more naturally across organizations and to have stronger contacts within their group of peers. Men, on the other hand, build stronger networks upward, which leads to better opportunities to promotion. Women, therefore, are at a noticeable disadvantage in terms of networking upwards within their organizations.

Another instance of behavioral differences between men and women that Buchel discusses happens during the job application process. When looking at a job description, women tend to become discouraged by the requirements they feel they are not qualified for, usually opting not to apply at all. However, men on average who are faced with the same situation tend to apply anyway, with a more optimistic and less hesitant attitude. These discussions of behavioral trends help the women to recognize their own tendencies and disadvantages, allowing them to be conscious of and improve in these areas.

When asked why Europe has lagged behind the US in terms of business programs for women, Buchel states that the issue of women in management hasn’t been on the forefront of corporate attention in Europe. The scarce number of women in executive positions has limited the viable market for such programs. However, these programs have been picking up more and more in Europe, especially since Scandinavian countries have begun to have much stronger female participation in management. Female representation on the political front, such as Germany’s Chancellor, Angela Merkel, has also pushed the agenda of female leadership on the forefront in Europe. The establishment of programs such as Buchel’s has certainly created a unique example of how we can both recognize and promote the leadership of women in the workforce.

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