business school

The Art of the Ding

Regardless of what you’re trying for, how little you think you care, rejection always hurts. So when MBA on-campus recruiting hands it to you in rapid succession and en masse, you’d think that we’d be somewhat steeled for it … and that firms would have some kind of consistent ding delivery mechanism.

But you’d be wrong on both fronts. Instead, we’ve been hit with painful rejections of all imaginable forms. Most of them just sting a bit, some outright cut, and a few are so absurd that all we can do is laugh to keep from crying. Below, we present a few of our most disarming rejection exchanges. Read more »

Dealbreaker’s Business School Correspondent Learns A Lesson In Compelling Correspondence

Dealbreaker’s Business School Bureau Chief is a full-time MBA student at Chicago Booth. Upon graduation, she plans to go back into the same industry and job function as she held before school, and as a result, some observers have questioned the need for her business school education. Though there are occasional moments when she, too, ponders the MBA, our Business School Bureau Chief is bent on proving its worth.

During first-year orientation last year, we had a special 90-minute session on “Compelling Correspondence” or How to Communicate via the Written Word Without Sounding Like a Douchebag. I took the lecture and feedback session in stride, thinking, “What moron would forget to spell-check and do a final read-through?”

A couple of weeks later, I realized my ego was writing checks my body couldn’t cash. I submitted a resume with the following header – in both soft and hard copy – to a Very Important Firm: Read more »

That’s how two Wharton professors, Daniel Gottlieb and Kent Smetters, model their students in a recent paper that tries to explain why so many business schools have policies – typically adopted by student vote – that prevent students from disclosing their grades to employers. Seems reasonable!

We construct a model with students, schools, and employers. Students prefer larger postschool wages but dislike studying. Schools are heterogenous in their selectivity (reputation). Under disclosure, employers can observe both a student’s grades and the school’s selectivity; under non-disclosure, an employer can only observe the partial signal of the school’s selectivity.

That model leads to a bunch of equations (no charts, sorry) with conclusions that again seem pretty reasonable. The driving force for preferring a non-disclosure policy turns out to be that mean post-graduation pay has to be higher than median pay – and the authors think that this is likely at a selective school where the top students can be very valuable, but less likely for a less-selective school where everyone is clustered closer to average ability. If the average value of a Wharton student is higher than value of the average Wharton student, then making it hard for employers to figure out who is actually valuable will let everyone get paid for the optionality:
Read more »

The Boom In B-School Applications

If you’re thinking that now might be a good time to get off Wall Street and lay low by applying to business school, you aren’t alone. Applications to business schools are booming. “It’s the second-largest year-over-year surge in applications to full-time programs since 2002, and the highest level of increase in five years,” Business Week reports.
The sharpest increase is in mid-tier business schools. Penn State’s Smeal College of Business, saw a 39% increase in applications, for instance. But even MIT’s Sloan School of Management and NYU’s Stern School of Business saw double digit increases in application volume.

Sagging Economy Boosting B-School Programs
[Business Week]

I’ve got some upsetting news to share: a bunch of white collar criminals in-training have suffered a serious setback, their dreams of one day ripping off other people for sport and possibly–if cards were played correctly– serving time, shattered to pieces.

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Morgan Stanley is said to be cutting back on its b-school tuition reimbursement, from 100 percent to 10k a year. “Sucks for those of us working through 10k/quarter part-time programs,” said our tipster who just wants to learn, damn it. “This sets me back 50k or so. There goes the last of my loyalty to the company.”

Wharton Ethics Maven Shuffles Off His Mortal Coil

DunfeeWharton.JPGThe Wharton School announced the death of Thomas Dunfee, former Vice-Dean of the school’s undergraduate division, in an email to students yesterday. Dunfee, a professor in the Legal Studies and Business Ethics division, worked for 34 years at the school. R.I.P. Tom. (Here’s a link to the memorial site Wharton set up for him.)
So what does this mean for the school housed under the Eye of Sauron, a.k.a Huntsman Hall? Let the speculation begin on who Wharton brings in to replace Dunfee and teach the up-and-coming “masters of the universe” “ethics.”

–by DealBreaker intern and Senior B-School Correspondent Travis.