September 3, 2011

MBA and Debt - Get comfortable with the idea...

In Getting the MBA Edge - Wharton 2011/12 - Preview Guide, we talk about all the things that are officially and unofficially part of the Wharton MBA student budget. Unfortunately, the student loan covered items can be eclipsed by nickel and dime items, as well as various 'bonus experiences' that can cost several thousands of dollars.

This week Poets and Quants published an article about the record breaking debt that will be incurred by the Wharton MBA Class of 2013.

Here are some examples of things that can drive up the cost from what you see in the brochures:

· MBA Pub dues (generally $120 for the year)

· Various Club dues (up to $500 for the year on the expensive end, or as little as $5)

· Leadership Ventures (VERY EXPENSIVE, up to $8000 depending on your destination)

· Global Immersion Programs (another high $$$ item)

· Recruiting travel for unofficial events (see ‘informational interviews’ in the Career Management section)

· Budget for parties, bars, and group dinners (can be up to $400 a week if you go out a lot)

· Cabs to get around Philadelphia at night (a priority, especially for female students in a big city)

· Vacation travel with clubs (the Japan Trek, Wharton Rugby South Africa tour, etc…)

· Weekend travel for social events (Wharton Ski Trip, Beach Week, etc…)


The interesting part about all of this, is the fact that all of this does indeed put pressure on students at graduation. Not even the most well funded non-profit can offer a salary that offsets rent in a major city combined with $1500 per month student loan payments. This may have the effect of pushing students into jobs that can allow even a decent lifestyle after graduation.

This cash flow punishment on graduates does encourage them to do nothing but work, but people who have families or are trying to start them will be under incredible pressure.

All of this leads to the question - is this degree really REALLY worth it? If you do not know the answer to that question before you start, you might want to reconsider the journey.

In Getting the MBA Edge, we quote one of the songs in Wharton Follies 2008 that said "$150,000 is a small price to pay for a priceless time." You need to decide if you agree with that...

September 1, 2011

Applicant Group Discussions (?!) at Wharton - What do they mean for you?

"Getting the MBA Edge - Wharton 2011/12 - Preview Guide" ends by saying that innovation in future Wharton application format and style is a clear opportunity given the mission of the school - well, some of that innovation was revealed today by Ankur Kumar, the newly promoted Director of Admisssions.

If you read today's WSJ you saw an article about innovative Admissions practices, and this bomb-shell was buried halfway through...

"Admissions officers say they are looking for more authenticity and honesty, since essays can be carefully crafted, often with help from a professional M.B.A. admissions consultant.

Beginning this winter, the University of Pennsylvania's Wharton School will invite a random sampling of M.B.A. applicants to participate in a staff-moderated on-campus group discussion with fellow applicants. They will be encouraged to discuss and debate current topics in business, as chosen by the school...

...Ankur Kumar, director of M.B.A. admissions and financial aid at Wharton, said the purpose is to give applicants "a chance to demonstrate, not just talk about" their critical thinking skills and intellectual curiosity.

Though this year's discussions won't count toward the admission decision, if the pilot goes well, the exercise could show up as a regular component of future Wharton applications, alongside transcript, test scores and recommendations
"

This is no less than a ground breaking change in the way that candidates are evaluated - essentially you are going to be observed on how you actually interact with other applicants, in a real life discussion. It stands to reason that the moderator will also be observing and (likely) evaluating the conduct of the people in the room to see if they have the qualities of a good Wharton MBA.

The MBA application in America (though you see some examples of group work in European schools) has, up to now, been an interaction between a single person and the Admissions committee. Anybody can be on their best behavior in an interview, but what is going to happen when you are in a room full of equally competitive and motivated people interviewing for a degree that will change their life forever, and you may be evaluated on (gasp!) how you actually listen and work with others.

Applicants out there who are prepared to plow over anyone in their way to an MBA are thinking: "That is just crazy talk! Thanks alot, Wharton, for breaking my carefully scripted and planned image of chosen recommenders, consultant polished essays, and carefully chosen background items and forcing me to actually be myself."

Is it possible that these interactions will tell the committee more about a person than an individual interview ever would? From the Director's comments above, it seems like this interaction may actually have a chance of replacing an individual interview?

In "Getting the MBA Edge - Wharton 2011/12 - Preview Guide" we discussed the shift of Wharton towards behavioral interviewing, and the qualities they may be looking for with last year's questions - odds are that this group discussion may be a better way of evaluating those key qualities...

No matter how you slice it - Wharton is thinking outside of the box here, and trying a totally new way of making applicants work together, and this better reflects what actually happens in MBA, in business leadership, and ... to some degree ... in life.

August 27, 2011

Getting the MBA Edge - Wharton 2011/12 (Preview Guide) (Series - Getting the MBA Edge (sponsored by Goldman Sachs and McKinsey & Co.))

http://www.amazon.com/dp/B005JKEQAG

Friends - for those of you who are thinking about apply to Wharton or getting an MBA, I have worked hard this year on an update to the 'Getting the MBA Edge' series about Wharton

I recommend this work to you - Please watch this site for updates and advice as the year progresses...

http://www.amazon.com/dp/B005JKEQAG


The Wharton edition of this international bestselling series is intended to be a resource and guide for those evaluating the world's top MBA programs to learn more about the school and the application process beyond the ‘official story.’

It provides in-depth analysis of the Wharton MBA program including:
- Changes and trends in the Wharton MBA Application and impact for applicants
- Analysis of the latest admissions essays, with clear advice on how to approach them
- 5 things behind the numbers that you didn’t know about Wharton
- The future of path of the Wharton MBA Academic Program
- Notes on the past and future of the application from a former admissions committee member
- Key themes driving the future of the Wharton MBA Program
- 5 things you thought you knew about the Wharton MBA Application
- 5 things you did not know about the Wharton MBA Application
- Breakdown of the MBA interview process at Wharton
- Student Voices on all aspects of the Wharton experience

"A wonderful resource" - Judith Silverman Hodara, former acting Admissions Director, Wharton School
"Accepted to Wharton thanks to your book" - Teddy Ngu

This is the only book on MBAs that has been officially supported and sponsored by Goldman Sachs, McKinsey & Co., BCG, Bain & Co., Booz, AT Kearney, Novartis, Cap Gemini and Roland Berger & Partners.

http://www.amazon.com/dp/B005JKEQAG

Hurricane 2011 NYC!

OK, it has been an interesting year no matter how you slice it, but now I am at an interesting predicament. I am hanging out with my 21 week pregnant wife in an apartment on the Upper East Side - and there is a 100-year storm on the way.

We are riding it out here, but it should be fun!

August 3, 2011

Getting the MBA Admissions Edge

http://blogs.forbes.com/mattsymonds/2011/08/03/getting-the-mba-admissions-edge/

Look for the 2011 E-Guide for Wharton coming soon for Kindle and Nook!

I will post udpates and discussion points here as the year goes on for interested readers...

June 3, 2011

Troubled Times on 711

http://www.amazon.com/dp/B0052YQLWA

No matter how long I have been onboard, I still notice the smell. It is a faint, chemical aroma, like sniffing a bottle of ammonia, and it is always present. Sometimes, I allow myself to forget about it and I walk around the boat for weeks without noticing, but it always returns. It is in my clothes and my hair and every personal item in the storage pan underneath my bed. The scent returns to me now, as I stand with my back against the wall outside the Captain’s stateroom. I am pressed up against the cheap plastic of the surface behind me, which is smooth and cold. Even with my back against the wall, there is only 7 inches in front of me in the hallway, so that every man who passes has to turn sideways and our chests brush against one another. In my case, my stomach is becoming significant enough from my nervous eating habits that it is my widest point.
The hallway is dark, which is normal after sunset, though the hours of daylight have little meaning when we are underwater. The traditions of the service tell us that we still turn the lights to red at night, which always seems like teasing to me, because there is some normal person somewhere who gets to watch the sunset and have a normal schedule. I stand in the dark passageway, listening intently to the unintelligible sounds coming from the behind Captain’s door to my left. There is white light shining under his door frame and the control room at the end of the hall on my left has a soft red glow coming through the small round window in the door. Every few moments a face looks through to check if I am still here, because everyone seems to know why I am waiting. I get tired of seeing the faces and trying to appear calm, so I look at my belt and the bottom half of my blue jumpsuit. My tennis shoes are getting dirty from a year of constant use on the ship, and I remind myself again that I must get new ones when we get back to port ... unless I am not going to have to get underway again. That thought makes me shift my eyes upward, past the polished walls. They are so clean I am afraid to touch them for fear of leaving fingerprints. It is still hard for me to imagine the painstaking time taken to clean cheap plastic walls with a fake wood grain pattern and thin metal plating. I focus on the ceiling, which is also false and easily removed to get to the equipment above it. The new powder coating is glossy white, but the latches have begun to chip after only a few days. The Master Chief will be furious, and we will probably have to get the job done again. That doesn’t surprise anyone, but we will still have to get angry about it for show.
The seconds tick by, and I try to avoid looking at my watch. I close my eyes and lean my head back on the uneven welds of the frame piece behind me. It is cold as well, but I have become accustomed to having a chill most of the time. I wear a thick brown wool sweater, which scratches at my neck and smells like it is as old as the boat. Washing repeatedly and dry cleaning did not fix the smell, and it is just another sign that the marks of being on a submarine are hard to remove. I shut my eyes tighter and focus on the sound. We are deep and going fast, and my head on the frame piece feels the deep throbbing vibration of the engines. That throaty noise is complimented by the fans. There is a ventilation duct above me, and the fans that push the chemical smelling air around the ship hum constantly. It is so much a part of our consciousness that the first thing we notice in many emergencies is the fans coasting down. My weight shifts slightly back and forth, from my heels to my toes, as I feel the ship rocking with the slight rudder corrections. It must be a new helmsman at the wheel, to be correcting so hard at this speed. The more experienced drivers correct their course so smoothly that you can hardly feel the turns. These rumbles and hums and shifts are the heartbeat of the ship, and they calm me with their familiarity.
I jerk out of my revelry as I hear someone on the stairs to my right. The messenger climbs up a staircase from the deck below, the dim glow outlining his form. I do not need to see his face, I know his body outline, gait and voice well enough. A voice is all I need to identify someone on this ship, especially the messengers, since they are the first voice you hear through the curtain when you wake up. He gives me a brusque nod and whispers “Excuse me, sir,” as he turns sideways and passes me, heading for control. People glance through from control to see if I am still there as he opens and then silently shuts to door. I am back in the darkness.
Suddenly, light floods into the hallway as the Captain’s door opens. The Executive Officer steps out and even though I am blinded and cannot see his face, I can sense the solemn expression from the outline of his features. He tells me that the Captain is ready to see me, and I walk into the outline of the doorway, and straighten my back as I knock twice on the already open door. I hear a pinched and abrupt voice telling me to come in and close the door. I turn my shoulders sideways to fit them through the doorway, and step into the cabin, silently latching the handle behind me.
The Captain’s cabin is the only space on the whole ship that one person has for himself alone. There is a safe and a desk built into the left wall, which is actually facing aft. The electronic equipment is affixed at seemingly random intervals, almost like every new screen or gadget had to be put in where it could fit at the discretion of the occupant. The far wall has a bed, which is normally folded into the wall, but since it is night, a mess steward has opened and made the bed, something that is only done for the Captain. There is a bookshelf with a metal restraint that prevents the contents from pouring out, and the forward wall has the door to the bathroom. I am standing against the thin plastic separating the cabin from the hallway, and to my right is a mirror with a sink that folds out of the wall. I have to concentrate to remain standing at attention and not glance at myself in the mirror to see if I am pale. There is a calendar on the wall in front of me that stares back at me: September 2003. The new month’s picture is of a submarine on the surface leaving Pearl Harbor. I wonder if there were officers on that ship with my problems. The ceiling of the room is solid in places, with patches of blue vinyl snapped over other rectangles. The Captain sits at the desk a few inches in front of me, and types on his laptop. I know better than to speak, and I stand tense, waiting for the inevitable explosion.
Paul Lovpock closes his laptop and folds up his desk before turning to look at me. He rotates his chair and gazes over his thin framed glasses and his sharp, beak-like nose. It is hard not to look at the shiny gleam from his bald head, and so I try to keep my eyes unfocused pointing at the ugly wood pattern on the far wall. Finally, he crosses his arms and speaks.
“Mr. Fleming, you are broken as a leader and I do not know how I am going to fix you.” His words seem to sneer without any visible facial expression.
I listen with exhaustion and defeat after the worst 12 months of my life, and I wonder if any job is worth this pain. I try to think of something to say that will not make the situation worse, but no thoughts come to me. It is like my brain is gridlocked. Only 30 months ago, I was commissioned as a Naval Officer after graduating from the University of Pennsylvania with an honors degree in Physics and Russian. I was eager to join one of the most elite groups of officers in the Navy. But now, I am close to a nervous breakdown. How could my path could have lead me to the point of being fired and sent to a desk job for my remaining 3 years in the Navy?

http://www.amazon.com/dp/B0052YQLWA

May 28, 2011

Making a Submarine Officer

For those of you who enjoy reading real life stories of life, learning, and leadership, I would recommend you consider reading my book - a story of my 42 months onboard a US Navy Nuclear Submarine.

My target audience for this is young officers beginning their journey in the submarine force or the Navy, if you know anyone who would enjoy it, please send the link to them.

You can find it for purchase in the Amazon Kindle Store:

My Amazon author page is here:

March 16, 2011

Hello Mrs. Fleming!

Well, let it be said - the most unlikely of things happened - I married one of my classmates from Wharton.

We are incredibly happy - here is the announcement:

Video:

Website: