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.
Women are in demand in graduate management educational programs of all kinds.
Let us take a look at the 2007 statistics released by the GMAC in reference to gender representation. In part-time MBA programs, women represent 37% of the total. In full-time MBA programs, just 27% of MBA students are women. In EMBA programs, a meager 22% of students are women. Though women represent a larger percentage of the student body in non-MBA management education including undergraduate and master’s programs, it is still the case that in all categories women represent a minority of applicants.
Though overall far fewer women than men pursue Graduate Management Education, numbers of women applicants are on the rise. In 2007, applications from women increased overall. These increases are in large part due to greater recruitment efforts. 56% of full-time MBA and 78% of EMBA programs are actively recruiting among women. Such recruitment seems to have a direct correlation to increases in the volume of women applicants.
How do you fit into the tough MBA market?
As an aspiring MBA student, you are inevitably faced with an outstanding array of variables in choosing where to apply. With more applicants sending stronger applications than ever before to the top business schools in the U.S, getting accepted at the school of your choice is becoming an increasingly daunting task. (We, of course, believe a business school education can immensely empower your hiring potential and enrich your personal and educational goals. Therefore, making all obstacles worth it!)
The Perks of Being in the Top 10
The pulling power of attending a top 10 B-School is almost alone worth the high price tag of $100,000 USD. For a student to spend that much money, the perks must be many and come often. Here are some of the reasons you may want to attend a top 10 B-School:
- These schools attract world renowned professors
- Attraction of recruiters from high powered organizations
- High percentage of employment at graduation
- High Ranking equals more global exposure for the student
- The opportunity to explore many career tracks in very little time
- These schools create a strong career platform
In summary, attendance at a high-ranking school means learning from well known, well-educated and well-connected professors. It means more exposure to real business and recognition within the global business market. Furthermore, it means valuable networking opportunities.
Is a top-tier B-School for you?
Even though ranking is important, it should not solely dictate your decisions. Think about what you personally want out of your education. Even if your list of 8 schools are all in the top 10, which one you choose should be based on some of the following criteria:
- Location and Environment: Would you perform better in the fast paced New York City or the small-town feel of Durham?
- Student Atmosphere: Do you like to work with other students, or fight your way to the top?
- Recruiters who visit: Do you want to work for a consulting firm or work in finance?
- How much is tuition? What kind of scholarships or work study opportunities are available?
Of course there are many, many more considerations to make.
After you have found the right schools for you, you need to remember that there are a lot of other students who have come to the same conclusion. Future MBAs like you are coming from all over the world to study at the institutions that you also wish to attend. The sheer volume of applicants and the quality of those applicants have risen: They are better qualified than last year, better prepared, and are submitting better applications. And to make this situation appear even more challenging, more applicants equal more registration for the GMAT. If you have been following closely, you know that more numbers equals higher scores. Therefore, focus on setting yourself apart from the pack. Where will your individual strengths be valued the most?
Effects and Consequences of the MBA Boom
The lure of an MBA has created a wealth of specialized MBA programs at top business schools. There are also various flexible part-time programs for the working student. Interestingly, there are fewer applicants for management education PhDs, which implies that more students are interested in management careers and not in academic ones. A future consequence is too many management students and fewer (or less qualified) professors. How are these effects relevant to the aspiring MBA?
- If you are interested, consider a PhD!
- It may be more challenging to gain acceptance to a top tier school, but these schools will have more programs to suit your needs and interests.
- You can get your MBA without sacrificing your current career, if that is a concern for you.
Remember that while acceptance to the business school of your choice is challenging and ultra-competitive, it has many rewards. Your career and future is dependent on your hard work and perseverance. To look at the rise in competition positively, it means more options for you.
On Wednesday we discussed various loan and scholarship options for funding a B-school education. But what happens after you graduate and you must begin to repay those debts? Today we offer a few insights into managing your debts once you have earned your degree.
Loan Payment Plans
Schedule your loan payments around your budget. You can be in control of your repayment plan.
Debt management is an intractable issue associated with financing one’s education. Most loan providers are flexible in that a payment schedule can be worked out based on the graduate’s income; different providers will have different options and it is vital that these be understood. In some cases payment can be extended to 25-30 years after graduation. Sallie Mae, a major loan provider, requires on average a 10-year payment schedule with principal and interest fees due every month.
In some cases, an MBA can be tax deductible. This must be understood on a case-by-case basis, but typically if the student can prove that their MBA education supplements the career that they are currently engaged in, then their education can be tax deductible. For example, if a non-profit executive pursues and MBA in non-profit management, they could write off their fees. If a software engineer does the same they will not be able to prove that their MBA will enhance their ability in their current position, and they will not be able to write off their fees.
During a normal business day, we have countless verbal interactions that we take for granted. But the simplest communication should not be overlooked. The language you incorporate in your business relationships can have a tremendous impact on your success. Well-handled verbal responses strenghten your visibility in the workplace and showcase your upper-management potential. Someone with a high verbal IQ speaks effectively with fluency and flexibility. Having control of your words, using accurate language, and delivering your speeches with confidence all contribute to an overall strong verbal IQ.
Here are a few tips on projecting a positive verbal IQ:
1.) Anticipate what is most likely to happen in your encounters with people and prepare possible scenarios.
2.) Avoid talking too much.
3.) Concentrate on solutions rather than on problems.
4.) Be honest and sincere.
5.) Think before you react.How you phrase your words is a crucial aspect of business relationships. Therefore, take the time to carefully craft your language.
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