Tag Archives: recession

‘I’m unemployed, does this mean my MBA application will be dinged?’

In normal times the answer to this question is ‘yes.’ Unless there is a compelling no-fault reason you are unemployed, or you have just sold a company for a few million bucks, your unemployment will count against you. In a situation where 3 in 20 are admitted, it’s going to be hard to be one of the three.

But these are not normal times. Lots of people have been squeezed out of the job market due to the Credit Crunch and resulting recession. If you’re one of them, Adcom will understand that. The emphasis then shifts to how you have responded: (a) what have you done with your time, and (b) how has the experience changed you? How have you grown? Unemployment often forces on us a period of life-stocktaking, where we have the breathing space to reevaluate our goals or at least ask ‘what do I really want to do next?’ Adcom is interested to see if you can do this ‘personal work,’ and what your answers are.

Keep in mind also that the average senior executive — your role model in your MBA aspiration — will face periods of career upheaval. Showing you can cope with this is a mark in your favor. For a sense of what others are doing and thinking, and particularly how to reflect on this kind of career bump, see the Wall Street Journal blog ‘Laid off and Looking.’

Also see The Rose Report, written by Rose Martinelli, Associate Dean for Student Recruitment and Admissions at Chicago Booth GSB. I’m a big fan of this blog which really walks the walk in making the admissions process transparent. This is what Rose has to say on whether unemployed candidates will get into Booth this year:

“The simple answer is yes! Many people have been displaced over the past year through no fault of their own, and finding a new job in their target industry/function has been equally difficult.

So what can you do? First, take stock of what you have learned about yourself during this time. For many of you, this may have shaken your confidence and impacted what you want to do with your life/career going forward. Help us to understand this in your application. Second, let us know what you have been doing with your newfound freedom and what motivates you. Are you taking classes, volunteering your services, traveling, etc.? There is no right or wrong activity… Again, help us to understand your choices and motivations. As you’ve probably learned by now, we’re so much more interested in how you have coped with these surprises and what you’ve learned about yourself.”

Footnote: back in June I posted an article here about the humanities-based diversity of Adcom’s own career backgrounds, and how this should affect your approach. Martinelli fits this mold too. She received undergraduate and master’s degrees in vocal performance from Northwestern University, and spent 15 years as a professional opera and concert singer before doing an EMBA at Chicago Booth.

The recession adds weight to the voice of Career Services in MBA Admissions

Every year is similar in MBA Admissions, but slightly different given what is going on in the economy and the world. This year a key framing condition is the recession. Applicants who get into top schools will have a excellent spread of academic, professional, and extramural attributes. But the economic downturn will make itself felt, and one of the aspects of this was well picked up by Business Week this week in an article which says MBA Career Services departments are getting a stronger voice in who gets admitted.

Says BW: “With company recruiters becoming ever more selective, B-school admissions departments are taking a closer look at how easily candidates will be able to parlay their education into a job come graduation… While admissions officers have always favored these qualities, increasingly—as the job market tightens—they’re demanding them. Admitting employable students on the front end in some cases means shying away from some traditional admissions metrics such as test scores and grades and embracing professional qualifications such as interpersonal skills, proven job performance, and promotions.”

None of this is new. Future employability, quality career continuation, and likely starting salary have always been a consideration in MBA admissions. It’s just a shift to greater emphasis.

Recruiting well out of an MBA is one of the key function a business school offers. They do this for the candidate (it’s part of what you pay your tuition fees for) but it’s hardly altruism. This is because, among the matrices along which MBA schools are typically ranked is “percentage of students recruited on graduation,” and “average starting salary.” In other words the pressure is on Career Services to get these numbers up.

In good times they are willing to take a punt on students who have potential but not much or a record because it’s likely they will get a good offer (in boom times practically everyone at a top-20 school gets multiple offers). But in a bust Career Services knows it will be left with jobless graduates. Not only is it a headache to have them emailing you and endlessly bugging alumni, but it drives down rankings, to say nothing of word-of-mouth reputation.

So while b-school Admissions Services (Adcom) and Career Services are traditionally separate “empires,” in recessionary times Careers want to make sure they get the most recruitable candidates possible. So many schools’ Careers departments are demanding and getting a seat on Admissions Committees, where they can sit in on interviews and evaluate applications.

What does this mean for applicants this year?
Says BW: “The increased attention to job placement could spell trouble for candidates whose essays fail to outline clear career plans. Career switchers, with no work history in what they hope will be their new profession, might be similarly disadvantaged. The same goes for younger students as some schools up the criterion for average years of work experience.”

The way through this is, first, to play up your career progress and future employability (via all inputs: essays, résumé, interview, recommendations, etc.) The second is to have a really convincing, plausible, short-term career plan. Given your work history plus an MBA (from the particular school) can you make Adcom and Career Services believe you will be gainfully employed in a MBA-worthy position on graduation day? If you can do this, you’re one step closer to getting in.