What is top of mind for MBA adcoms right now?
If you are an MBA candidate and have spoken with me in the last year, you’ve probably heard me mention AIGAC – the Association of International Graduate Admissions Consultants. This year, I had the opportunity to serve on AIGAC’s conference committee and be part of the team that was tasked with planning and executing this key annual event.
AIGAC’s conception can be traced back to 2005 when the Tuck School of Business invited education consultants from 18 countries and held the first ever “Conference for International Educational Consultants”. Fast forward to today and the role of AIGAC continues to grow. You can love or hate MBA admissions consultants but you can’t argue that they play a role in the increasingly complex world of MBA admissions. And the role of AIGAC in this space is very necessary, given that its mission is to provide “insight and transparency into the graduate admissions process and promote ethical standards and professional development among members and stakeholders worldwide”.
During the first week of May, we held the annual AIGAC conference. This year’s conference theme was “The Changing Face of Graduate Management Education”. Over the course of three days, I got to participate in and lead discussions with MBA adcoms from all the leading business schools in the US and Europe.
I want to share with you the main themes that emerged so you can start the MBA application process equipped with the most up-to-date insights.
1) The evolving definition of leadership and the role business plays in the world
The conference was kicked off by a chat with the deans of the three host schools – UVA Darden, UC Berkeley Haas, and Duke Fuqua. Not surprisingly, all three deans talked about the evolving definition of leadership and the role business should play to be a positive force in the world.
Dean Bill Boulding talked about the responsibilities of business in a very polarized world. “How do we use business to bring people together?” He also talked about decency as a critical quality for a business leader. As he put it, “business IQ, emotional intelligence will help you work with others but you need to have decency that allows you to make others successful.”
Dean Ann Harrison from Haas shared her students are asking, "How is business propelling society forward? How is it addressing climate change?" She shared seeing a growing interest in strategy consulting work that includes social work and sustainability. Most importantly, she talked about the growth of diversity at Haas – in the most recent class and in the school’s senior leadership.
Dean Scott Beardsely talked about how the pandemic has been a phenomenal case study when it comes to the way Darden uses the case method – by putting you in the shoes of the leader and asking, “What would you do?”
2) Diversity, equity, and inclusion continue to grow in importance and focus
Another important theme was how DEI continues to grow in importance. MBA students are expecting to learn more about how to lead, guided by principles of diversity, equity, and inclusion and schools are responding by making DEI a central focal point of the way business is taught.
Dean Boulding announced a specialization in DEI within the MBA. Dean Harrison shared Haas has introduced a new core course on Business Communications for Diverse Audiences.
Later during the conference, the Ross School of Business talked about their new Equity Analytics course that introduces frameworks related to the notion of fairness.
Very importantly, the definition of diversity continues to expand. Schools and consultants discussed the various aspects of it – for example neurodiversity, diversity of economic backgrounds, professional diversity.
3) Technology and entrepreneurship continue to grow as areas of interest for MBA candidates and business schools alike
Just like it affected all businesses, the pandemic forced business schools to redefine the role of technology in the delivery of graduate management education. “How do we use technology with humanity?”, Dean Boulding asked.
Dean Harrison also addressed the shifts brought by digital transformation and its impact on the future of work.
Dean Beardsley identified the growth of tech and its need for talent as one of the defining trends that impacts business schools.
My advice for all MBA candidates applying soon is to reflect on these themes as you embark on the application process. Across the various MBA application parts, you will need to convey your values and your approach to leadership. Considering what is front and center for business schools and how your thinking and experience relate to these topics will help you better understand and demonstrate fit.
A few other highlights for the upcoming 2022-2023 MBA admissions cycle that will impact MBA candidates:
· MBA events will continue to employ a hybrid approach and include in-person and online. Many schools are resuming on-campus visits, including Stanford and Columbia Business School to name just a couple.
· Video essays are often a source of angst for candidates so the MBA adcoms talked about how they are used in the admissions process. The agreement was that while they are not the single most important input, they allow MBA admissions to see, hear, and feel your personality and communication skills. This is especially true in assessing international candidates’ English speaking skills. As one head of MBA adcom put it, “It almost makes the "paper essay" answers come alive".
· The market has softened. The volume of MBA applications has declined, reversing a couple of years of growth. The declines are not the same across schools with some impacted more than others. Notably, yield appears to remain strong and in some cases be even stronger than usual. Whether or not this trend will continue during the upcoming 2022-2023 admission cycle is hard to predict, given the signs of a possible economic recession in the US. During recessions, full-time MBA programs have traditionally experienced increased application volumes.
· Test-waivers are not going away. In fact, more schools are considering them an important tool in ensuring they attract talent. However, it continues to be important that candidates recognize that getting a test waiver is far from a guarantee for admission. If you are unsure how to make the decision whether or not to ask for a waiver, this piece will help.
· As I mentioned earlier, MBA students are expecting to learn more about diversity, equity, and inclusion and schools are responding by launching new courses and concentrations. As a result, MBA candidates should also expect that questions about their experience with DEI will continue to be part of the admissions process.
· Recruiting is moving earlier than ever. Companies are tapping MBA students before they even start school. This has implications on candidates who are on the waitlist as some schools are making decisions not to keep international students (in one example) on the waitlist beyond May.
Finally, one of the biggest takeaways for me from the 2022 AIGAC conference was being reminded how dedicated the MBA admissions officers are to serving MBA candidates. While I know MBA candidates obsess over their competitive profile and odds, if there is one thing I want you to read from this report, it’s this. The MBA adcom is rooting for you. Despite some cynical views that can be seen expressed by candidates in various (and usually anonymous) forums, the MBA application process is not designed to make you jump through hoops or stumble you. It’s genuinely meant to give you an opportunity to show the MBA adcom the full and authentic picture of who you are.
Onwards and upwards,
Petia
P.S. Did you know that in MBA APPLICATION BOOST CAMP, you can work with me in a group setting at a fraction of the cost? Come join the driven community I am building to confidently walk the road to submitting your application.
Onwards and upwards,
Petia