I may or may not update this blog much in the near future. The key takeaway is don’t let rejections make you overthink your credentials and effort. There are more and less “qualified” people that got in. However, qualified is such a subjective term.
Another thing for candidates more than a year out from applying. This may sound disingenuous, but I do think if you are targeting the best schools and want to have a great story, quit your job and join a nonprofit. In your essay, talk about your convictions to be a social entrepreneur. Bam, you will get to most schools. It’s a big step to do it, because you won’t get paid. However, if you already come from a family of wealth, I do not see it as a big risk. I could not do that, since I was already supporting my parents.
Wharton reports its acceptance on December 16th… They have a ton of buy-side employers that gave offers to Wharton students. I finally have had the time to spend hours classifying the firms. Apologies for the mistakes. 3.4% went to Hedge Funds, 6.7% to investment management, 8.5% private equity, 1.7% to venture capital. So 20% of the class went to the buy-side. I think more hedge funds recruited at Wharton versus other schools, and I believe it’s less of a surprise. These start-up hedge funds are mostly in New York.
9% go into investment management, 5% private equity, and 3% venture capital. I do believe the Polsky center and other programs help position Booth over other schools with buy-side placements. 17% of the class go to the buy-side (15% of the class went into investment banking). Anyhow here’s the same breakdown of employers:
Sloan has one of the smallest MBA classes. ~30% go into consulting. Low single digits even go into investment management and private equity. I was curious to see what firms hired Sloan MBA students:
Advent International Corp.
Black River Asset Management
MFS Investment Management
Norwest Equity Partners
PAR Capital Management
Forgive me if I left off some names on accident. This list includes both 2014 full-time and 2015 internships. The list is ALOT smaller than Kellogg’s. One thing I was impressed with was Sloan’s faculty in Finance. However, if I did get accepted at Sloan, I will be taking a real hard look at pursuing entrepreneurship. Potentially having finance as a fall-back.
The buy-side presence is really small here at Sloan.
Even though I have not been accepted by Kellogg yet, I am continuing to do my due diligence since I have nothing better to do. I am shocked I have not seen this list anywhere else.
I am extremely impressed with the career survey of 2013. ~750 students with 13% in PE/VC. I took their career survey and tried to classify the majority of the buy-side firms (apologies if I left some out). I also have a worksheet with some notes for myself. I am specifically more interested in the hedge fund placements and saw over 5 hedge funds and most were multi-billion. This is amazing placement, considering how small the Asset Management Practicum is. I do believe the AMP program will be the primary reason I choose Kellogg over other schools if I do get accepted.
It should also be noted that Booth/Kellogg may have better buy-side placements compared to Wharton since there are so many firms in Chicago, and students can work there during the school-year. Philadelphia doesn’t have much…
My three goals of business school: entrepreneurship, network, and professor mentor. I want to build something. I want to meet new people and create life-long friendships. I want to work closely with a professor on a finance research project and have him to fall-back on when I have theoretical questions while on-the-job (I am always intellectually curious and question every investment made).
I will be happy to get accepted to any of the business schools on my list. But right now at this moment, I would rank my choices: Sloan, Wharton, Booth, and Kellogg. In reality, these 4 schools interchange ranking everyday as I do more diligence. Sloan has the best entrepreneurship track and small class to get to know professors. Great alumni network. Wharton has the best finance program and has the Wharton West campus. Booth is strong in both finance and entrepreneurship with the New Venture Challenge. Kellogg has unique programs like the AMP (Asset Management Practicum) that caught my eye, and the culture at Kellogg I definitely identify with the most. Furthermore, I could finally have a team to truly root for in college sports.
Now the purpose of this post is to focus on my thoughts on Kellogg. I interviewed in November. Kellogg interviews everyone in the USA I believe, and they use a mix of first-year, second-year, alumni, and admission officer. So I flew in for the interview in the morning. I showed up actually 45 minutes early! However… I did not call the admissions office to ask about parking guidance, since this is Evanston, Illinois! It should have parking everywhere! Lo’ and behold, I parked at the wrong spot. Recommendation: call ahead of time to ask about parking.
I was not impressed with Kellogg’s building, but I do appreciate having a campus and living close to campus. My interviewer asked standard questions:
Tell me about yourself.
What kind of leader are you?
Describe yourself in 2-3 words.
What do your friends think about you?
There were a few other questions I may have left out. I did not prepare the “what kind of leader am I” question, since I really lead in various ways based on various circumstances. On a side note, Kellogg has the most impressive online presence. You can sign up in their portal to list your background, and they will automatically connect with you a student of a similar background. I learned a lot about the finance and AMP program. The AMP program could definitely be the kicker if I get accepted to multiple schools.
For those preparing for Kellogg, I recommend speaking to students and get a gist of the culture. I definitely see the culture at Kellogg more collaborative and less competitive compared to other schools.