BBR Volume 2 Issue 5

8/14/2019 BBR Volume 2 Issue 5

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BRUINBUSINESSREVIEW

POST BACHELOR

VOLUME II ISSUE


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Janua

ry

2009 January 20

Career Fair

Location: Ackerman Grand Ballroom

Time: 10:00am 3:00pm

Description: Meet representatives from vari-

ous companies and search for internships,

part-time, and full-time jobs.

Bain & Company Employer Presentation

Location: DeNeve Plaza Room A

Time: 6:00pm 8:00pmDescription: Bain & Company Associate Con-

sultant Internship Information Session.

Internships for 2009 Workshop

Location: Career Center, Second Floor, Rm.

200

Time: 12:00pm 1:00pm

Description: This workshop offers practical

search advice and application tips, as well as

a review of some standout internships ac-

cepting resumes now. RSVP on BruinView.

Sacramento and Bay Area Internships for

Summer '09 Workshop

Location: Career Center, Second Floor, Rm.

200

Time: 1:00pm 1:30pm

Description: This workshop offers you the

tools to effectively search for Northern Cali-

fornia summer employment opportunities.

RSVP on BruinView.

January 21

Internship Search Strategies for International

Students

Location: Bradley International Center

Time: 3:00pm 5:00pm

Description: UCLA Career Center counselors

will share a variety of effective search strate-

gies for international students seeking in-

ternships in Los Angeles and other markets.

RSVP on BruinView.

Graduate and Professional School Planning

Location: Career Center, Second Floor, Ca-reer Lab

Time: 4:00pm 5:00pm

Description: Are you wondering if graduate

or professional school is right for you or do

you have questions regarding the application

process? Attend this workshop for answers.

How to Make Millions in the Stock Market

Location: Covel North Ridge Room

Time: 7:00pm 9:00pm

Description: Information Session about stock

investing.

Get JD: Preparing for and Applying to Law

School

Location: Career Center, Third Floor

Time: 11:00am 12:30pm

Description: Law school admissions require-

ments, timeline information, completing ap-

plication materials, letter of reference ser-

vices, and developing a strong personal

statement.

January 22

Environmental Protection Agency Employer

Presentation

Location: Career Center, Third Floor, Conf.

Rm. A

Time: 5:00pm 6:30pm

Description: Environmental Protection

Agency (Office of Enforcement and Compli-

ance Assurance) discusses jobs opportunities

with agency.

January 23

Business Economics Application Due

Location: Bunche 2263

Time: 4:00pm

Description: This is the due date for the Busi-

ness Economics application for Winter Quar-

ter 2009.

January 29

MillerCoors Sales Management Internship

Info Session

Location: Career Center, Third Floor, Conf.Rm. B

Time: 6:00pm 7:00pm

Description: Stop by to learn more about the

Sales Management Internship.

DaVita, Inc. Employer Presentation

Location: Career Center, Third Floor Conf.

Rm. A

Time: 6:30pm 9:00pm

Description: DaVita health company job op-

portunities.

February 2

Get JD: Preparing for and Applying to Law

School

Location: Career Center, Third Floor

Time: 4:30pm 5:30pm

Description: Law school admissions require-

ments, timeline information, completing ap-

plication materials, letter of reference ser-

vices, and developing a strong personal

statement.


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4 Bernard Madoff and His Ponzi

Scheme

5 News Briefs

6 Why Business School?

8 Professional Certifications

10 Earning Your Joint Degree

11 How to Get Recommendations

12 Standardized Tests for Grad Schoo

14 Paying for Graduate Schools

16 Stanford Graduate School of

Business

18 International Business Schools

21 Options for International Students

Post-Bachelor Degree

22 On Track for Business/Law School

CONTENTS


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Bernard Madoff

By Jaeman Kim

Staff Writer

On December 11, 2008, Bernard Madoff was arrested and

charged with criminal securities fraud. The fraud he

committed, which has potentially spanned over three

decades, involved thousands of investors who gave their

money to Madoff, who said that losses to his clients are

about $50 billion dollars. Even worse, no one knows exactly

where all the money is.

In 1960, Bernard Madoff started the firm Bernard L. Madoff

Investment Securities LLC. The firm facilitated securities

trades by serving as the middleman for investors. The firm went on to become successful. Madoff also helped to develo

the Nasdaq stock market and once served as its chairman and helped advise the Securities and Exchange Commissio(SEC).

While Madoff was carrying out the fraud, he told his clients that he would offer them a steady source of return on the

investments through a options-trading strategy. This strategy involved buying stocks while also trading options, or th

right to buy or sell property that is exchanged for an agreed amount of money, in a way that would limit any losses o

the shares of stocks. However, it has come out since his arrest that Madoffs firm could not have actually bought and so

the options because the totals that Madoff claims to have had would hav

exceeded the total amount of trading occurring during those days.

Investigators now believe that Madoff initially participated in this tradin

scheme but failed. He then financed the operation by taking money from neclients and paying it out to existing clients. Due to the nature of the scheme,

could only continue if he obtained more and more investors. However, due t

the recent economic downturn, there was an increase in the number o

redemptions, or people asking for their money back, and it is believed tha

Madoff did not have enough money to sustain the Ponzi scheme.

The reason as to why Madoff was arrested was that he confessed to his son

the Ponzi scheme. According to the criminal complaint, Madoff has receive

requests from his investors for about $7 billion in redemptions. However, give

that there was only $200 to $300 million left at the firm, this was impossible.

Madoff has stated that losses for his investors are about $50 million dollar

Investigators believe that this amount includes fake profits that Madoffs fir

reported. Therefore, it is probable that the actual amount is less. In total, th

loss may be closer to around $30 million. The biggest question that everybod

has, however, is where all the money actually went. It is possible that Mado

has multiple off-shore accounts that have strong privacy laws. Given the size o

the scheme, it may be some time before there is an answer.

ictims of the Ponzi Scheme IncludeInternational Olympic Committee,

led by Jacques Rogge

Bramdean Alternatives,

run by Nicola Horlick

HSBC,

headed by Michael Geoghegan

Banco Santander,

led by Emilion Botin

Human Rights First,

led by Elisa Massimino

BERNARD MADOFF

AND HIS PONZI SCHEME


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By Dmitry Shuster

Staff Writer

NEWSBRIEFSRUSSIA AND EUROPE COME TO TERMS OVER GAS

After a tense standoff over the supply of gas to European nations, Russian and European officials have finally signed a

deal. This will reopen gas supplies to the hundreds of thousands of homes that were left without gas in sub-zero tem-

peratures after previous negotiations with Ukraine and European nations stalled. The primary advantage of the deal is

that it stated how gas flowing from Russia to Europe will be monitored amid accusations that Ukraine has been stealing

gas for its own benefit. Representatives from the EU, Russia, and Ukraine will monitor the transit of gas at pumping and

measuring stations in Ukraine. Fortunately, more than 15 countries in central Europe will now receive gas from Russia,

who provides 40% of Europes gas imports.

U.S. JOB LOSSES HIT RECORD, AGAIN

The number of U.S. jobs lost in 2008 is the highest figure since after World War II. A total of 2.6 million jobs were lost

throughout the entire year. The jobless rate rose to 7.2% in the month of December, the highest it has been in the past

16 years. President-elect Barack Obama, who is to take office on January 20, has announced that the economic situa-

tion is critical and that immediate actions must be taken. With the release of this data, Boeing announced that it would

cut 4,500 jobs from its commercial airplane

division due to the global economic crisis.

There is little consolation in the fact that thenumber of jobs lost in December 524,000

missed analyst expectations of 550,000.

Where Jobs Were Lost

Factories: 791,000

Retail: 522,000

Temporary work: 490,000

Construction: 630,000

SOUTH KOREAS RATE CUTS SIGNAL MORE TROUBLEThe Central Bank of South Korea cut interest rates by half a percentage point to a record low of 2.5% in the nations

latest attempt to fight off recession. President Lee Myung-bak has stated that the target growth rate of 3% may prove

to be beyond reach. This is the fifth interest rate cut in three months for South Korea, whose exports have decreased

significantly and whose factory output fell by 14.1% in November. The predictions of some economists are much worse

than those of South Korean officials. Some suggest that the countrys economy could actually contract by 3%, which

would be the first annual contraction since the Asian financial crisis of 1997. The South Korean government has also

established a $37 billion fund to aid small and medium-sized businesses in need of new capital. The countrys predica-

ment clearly shows that no nation is immune to the fall in global consumer demand and the weakened global economy


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By Eric Park

Staff Writer

During the current economic crisis, many employers are laying off significant portions of their work force. In December

of 2008, the U.S. reached a 16-year high unemployment rate of 7.2%. Therefore, it makes sense to many currentcollege students to try to earn their MBA directly after completing their bachelors degrees. While attaining an MBA,

students will not have to worry about job hunting in a slumping economy and will tend to have advantages over other

applicants upon graduation. However, receiving an MBA includes many obstacles such as high tuition costs.

MBA job applicants are distinguished by credibility. They learn

about business management including factors such as customer

and investor satisfaction. Their degrees are specialized in a field

such as sales, marketing, risk management, accounting and more.

An MBA level education allows individuals to have greatercomprehension of specifics and nuances in their work places.

Employers place emphasis on education and are more open to

grant higher positions and salaries to MBAs. An MBA tends to

bring in more experience and knowledge than their B.A.

counterparts, and tends to have many career choices and

opportunities for advancement. Many people attend graduate

school for these reasons and there are many successful examples.

Jamie Dimon, Chairman and CEO of JP Morgan Chase, Thaddeus

Arroyo, CIO of AT&T and James McNerney, CEO of Boeing are just a

few MBAs in business.

While an MBA can provide monetary benefits, it can also provide

personal benefits. MBA programs currently exist all over the world. As such, those who possess MBAs are respected

and admired for their credentials. Therefore, possessing an MBA can garner respect from co-workers and provide

individuals with the confidence needed to lead and manage others. An MBA degree can open many doors while

providing prestige and confidence to those who possess it.

Despite the benefits of getting an MBA, there are also challenges with doing so.

Many traditional two year MBA programs have annual tuition costs exceeding

the $40,000 threshold.

Numerous funding options are available such as getting loans, serving as a

teaching assistant and having previous employers (for those with work previous

experience) pay for schooling.

However, there are many other expenses involved including living and personal

arrangements. Harvard Business School is one of the premier MBA programs.

On its website, school officials estimate the 2010 budget for a single student in

2010 to be $77,150!

BENEFITS AND INCENTIVES

MONETARY COSTS


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Single Married/DP

Married/DP

with One Child

Tuition $43,800 $43,800 $43,800University Health Ser-

vices Fee$1,426 $3,218 $4,010

Blue Cross/Blue Shield

(12 months)$1,404 $3,166 $4,222

Program Support Fee $4,200 $4,200 $4,200

Room & Utilities (9

months)$14,040 $16,515 $20,700

Board, Personal, Other (9

months) $12,280 $15,951 $20,318

Total $77,150 $86,850 $97,250

Class of 2010 Student Budget

A popular expression in corporate culture is time is money. Tradi-

tional MBA programs require two years. However, for some students,

they must also work while attending school. There are programs thataccommodate such lifestyles but the time required to receive an MBA

becomes longer. Many schools require hours of work experience

along with high GMAT scores and GPAs. For those fresh out of col-

lege, this means time must be dedicated to meeting those prerequi-

sites. When deciding students must also consider possible wages and

valuable work experience.

Proponents of MBAs argue that they allow for quicker advancement in

the corporate workplace. However, others ague that work experience

is more valuable than anything taught in the classrooms. As such,

there are many individuals in business who have achieved great suc-

cess without an MBA. Such examples include Rollin Ford, CIO of Wal-

mart, Steve Jobs, CEO of Apple, as well as Stanford graduate school

dropout and current Microsoft CEO, Steve Ballmer.

Pursuing an undergraduate degree is what all of us students are here

for. There are also those who seek further education. However, it is

up to the individual to carefully analyze his/her own circumstances before pursuing a graduate education.

COST OF TIME


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CERTIFICATATION:

your way to a better jobBy Christine Liu

Senior Staff Writer

Mr. Joe Smith, CIA. Top-secret government agent? Not likely, but hes

probably a Certified Internal Auditor. In the business industry, you may

come across many workers with a title, such as CIA, CFE, or CIMA. But

what do these titles mean? What do they entail? Well, well explain the

professional certifications in the business sector and the advantages of

having them.

First of all, there are two types of certifications, a licensure and a competence certification. Someone who holds a

license means that they have met the requirements for the license in that particular state, such as a public accountant

or attorney. Someone with a competence certification, given by non-governmental organizations, has met certain

requirements such as education level, passed test(s), and/or demonstrated competence.

Go to the organizations website and order the certification kit. It includes information about the certifications and

exam preparation courses. Enroll in review courses or buy prep books with practice exams.

Examinations for certifications usually consist of four parts, each around two to 3.5 hours long, a total of about 10

to 14 hours. However, the separate sections can be taken separately.

Finally, do your best to pass the test in order to get certified.

In todays competitive job industry, distinguishing oneself from his or her peers becomes increasingly difficult.

Professional certifications allow someone to further strengthen his/her appeal to employers and has an edge overother non-certified job applicants.

According to the Institute of Management Accountants as well as other surveys, employees with certifications

receive a higher salary. For example, accounting professionals who are certified earned approximately $11,000 to

$18,000 more annually than non-certified accounting professionals.

With the economy in a recession, paying or receiving sponsorship for employers for graduate school expense is not

feasible for many. Thus, certifications provide a solid alternative, especially since it can offset the disadvantage of

the lack of a graduate degree.

Professional certifications force one to increase his/her knowledge base since the examination would most likely

include areas of unfamiliar territory. The broad base of knowledge then allows the job applicant to be more

flexible, an appealing quality to employers.

HOW TO GET STARTED

THE ADVANTAGES


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There are many, many types of certifications spread across dozens of fields. Here, well zero in on the most relevant

ones pertaining to business, accounting and finance.

ACCOUNTING:

CMA (Certified Management Accountant)CMAs prepare an organizations financial statements, perform financial

analysis, as well as conduct a variety of other management accounting/financial tasks.

CIA (Certified Internal Auditor) CIAs audits financial

statements in order to identify risks, come up with plans to

controls risks, and examine the impact of alternative

solutions.

CFE (Certified Fraud Examiner) CFEs aid in the prevention,

detection and investigation of fraud by gathering and

examining evidence.

Others:

CPA (Certified Public Accountant)

CCSA (Certification in Control Self Assessment)

CCA (Chartered Cost Accountant)

FINANCE:

CFP (Certified Financial Planner) -- CFPs develop/implement financial plans for businesses, organizations, and

individuals suited to their financial situations and goals. They must be knowledgeable in many areas of finance

including income and estate tax, investments, risk-management analysis and retirement planning.

CFA (Chartered Financial Analyst) CFAs work in the field of institutional money management and stock analysis and

provide research/ratings on various forms of investments.

CFS (Certified Fund Specialist) CFSs advise clients on the

investment of funds.

CIMA (Certified Investment Management Analyst)

CIMAs usually have careers in financial consulting firms,

involving the management of large amounts of money for

clients.

Others:

CLU (Chartered Life Underwriter)

CMT (Chartered Market Technician)

CIC (Chartered Investment Counselor)

AREAS OF CERTIFICATION


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In an increasingly competitive job market, many students are doing whatever they can to distinguish themselves from

their peers in the job market. This includes bolstering their resume to include any skill or experience that the applica-

tion sitting next to theirs may not have. In the business field, having a background in two specializations can give gradu-

ates a significant advantage both while looking for work and in the office when they finally land a job. Many profession-

als seek to expand their knowledge and experience, and pursue joint degrees because they realize that having more

than one specialty will make them extremely attractive to future employers that require a combination of skills.

A joint degree program offers students the opportunity to study and obtain their masters degree in two different fields

simultaneously. The reduction in time (usually by one to two years) necessary to obtain both degrees makes such pro-grams very attractive to students who want to pursue a career in either field, or whose career path necessitates the

background of both areas. Most schools require applications and

acceptance into both programs separately, while others require

one complete application, and added supplementary items such

as letters of intent or statements of interest.

One of the most common joint degree programs among profes-

sionals in the business field is the Juris Doctor/Masters of Business

Administration combination. It teams up a universitys business

and law programs, and usually lasts four years, saving one year

over completing the degrees separately. This multidisciplinary

program prepares students to address both the legal and business

issues they will face in their jobs within consulting, legal practice,

and other areas.

Many other programs are offered at various universities, including joint degrees in design, engineering, and govern-

ment. MBA/MArch (Master in Architecture) is one type of design and business joint degree by teaming up with a uni-

versitys architectural department. An MBA/MSE (Master of Science in Engineering) joint degree adds a master of sci-

ence in engineering to an MBA for working engineers seeking to gain both technical and managerial experience. Joint

degrees with a master in public policy and an MBA are

sought after by leaders in government, realizing the impor-

tance of general business knowledge and the understanding

of economic development.

In general, joint degree program specifications depend

greatly on the university. It is extremely important to re-

search all potential programs in order to choose the best

and most fitting for you. So when you are deciding to pursue

an MBA, take a look into the world of joint degrees as well.

It just may give you that leg up on your opponent, and will

definitely give you a more well-rounded background for any

future endeavors.

JOINTDEGREEEARNING A

By Stefanie Ju

Staff Writer


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how to ask forA Letter of Recommendatio

By Shannon Kung

Senior Staff Writer

Getting a letter of recommendation is one of the hardest parts of the graduate school application process. Graduateadmissions committees look at hundreds of applicants who have similar grades and extra-curricular activities. A letter

of recommendation is a way for the committees to learn more about you as a candidate. Thus, getting an excellent

letter of recommendation is crucial. Most graduate schools ask for three letters and they, just like the rest of your ap-

plication, should be dealt with thoughtfully and carefully.

If you are going to professional school straight from college, you will most likely be turning to

faculty for letters or recommendation. When first starting out, consider how well you know

the professor and your performance in his or her class. If you never went to his office hours

and slept through most of lecture, it might be best to skip over him. To increase your chances

of getting a good letter, it might be helpful to start thinking about building a relationship with

professors so they will know you better and not only be willing to write the letter but write a

strong one. When approaching professors, remember that you are asking them for a favor.

Thus, dont ask by e-mail or spring the question on them before class starts. Instead, it is bet-

ter to arrange an appointment with them and give them advanced notice that you want to talk

about graduate school.

Be prepared for the meeting with your professor. You want to

impart on the professor that this letter is important to you, so

discuss the type of degree you want to get, the school youreapplying for, your goals and motivations, and why you chose

them. Writing the letter of recommendation is not an easy task

and the professors are taking time out of their schedule to write

it. Make sure you ask at least a month before the due date and

that you give them all the necessary documentation- any in-

structions from the graduate school, forms, your transcript, etc.

Be neat and make sure that you give all your documentation at

once so certain important papers are not lost. Being organized with all your paperwork will only serve to give them a

more favorable impression of you and thus write a better letter.

Follow up with your professor. They are busy with research,

classes, and students and are always dealing with huge piles of

papers. This means that it is important to follow up periodically to

make sure they turn it in on time and to see if they need any addi-

tional information. However, be careful not to become a nuisance,

as this will reflect poorly on you. After the recommendation has

been sent out, show the professor that you appreciate his effort.

Many websites recommend writing a thank you note or a card. Also, be sure to tell the professor the status of your

application- if he helped you get accepted into your dream school, he would definitely want to know!

STARTING OUT

THE MEETING

FOLLOW UP

Letter of Recommendation Checklist:

Did you ask your professor early? Have you done your research?

Did you prepare appropriate documents?

Did you make sure to tell him the deadline

Did you follow up?


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The Lowdown on the

By Joanne Hou

Senior Staff Writer

So you know you want to get to a graduate or professional school. The

next step is making sure you have taken the proper standardized test that

is required for admission into the program of your choice. For business

schools, the test is the GMAT (Graduate Management Admission Test); for

law school it is the LSAT (Law School Admission Test); and for most gradu-

ate school programs like a masters or Ph.D., that test is the GRE (Graduate

Record Examinations). Here are the essentials for each test.

GMAT at a Glance

Test Length 3.5 hours (210 minutes)

Test Breakdown 2 essays (30 min. each)37 MC quantitative ques-

tions (75 min.)41 MC verbal questions (75

min.)Testing Method By computer using compute

-adaptive formatScore Range 200-800

Test Score Valid

Period 5 years

Cost $250Retest Policy Once every 31 days but no

more than 5 times in any 12

monthsInformation www.mba.com

The GMAT is a test of general verbal, quantitative, and ana-

lytical writing skills and not a test of actual business or man-

agement knowledge. It is predominantly multiple choice

with two 30-minute essays one focusing on analyzing an is-

sue and the other on analyzing an argument. For the verbal

section, reading and critical analytical skills are tested, along

with language skills in the form of sentence completion. For

the quantitative portion of the test, the questions deal withmathematical problem solving and data analysis.

The GMAT is given electronically and the questions are cho-

sen by the computer program in what is called computer-

adaptive format. This means that the computer picks prob-

lems based on your answers to previous questions so the

difficulty level adjusts as you go along. Thus, different test

takers may face different questions and have variable pro-

portions of easy and difficult questions. This also means that

as you choose an answer, the response is immediately

scored and you cannot go back to previous questions. Scor-

ing for the GMAT is based on 1) the number of questions

answered; 2) the number answered correctly; and 3) the dif-

ficulty of those questions.

The test is given at test centers around the year all over the

world. It costs $250 to take the test and $50 to reschedule

an appointment. The scores range from 200-800 and are

valid for five years.

GMAT

GMAT, SAT, and GRE
http://www.mba.com/http://www.mba.com/http://www.mba.com/


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A GUIDE TO MBA FINANCING

HOW TO PAY FOR AN MBA:

By Julie Chen

Staff Writer

You finally finished paying off your college loans. You got into your dream business school. Now how in the world are

you going to pay for it? Getting an MBA is a costly investment. The recommended annual budget in 2008 for the MBA

program at Wharton is $80,000 dollars. While financial aid is available, funding for graduate students is limited and the

grants and scholarships offered are generally small in size. Paying for your new education, however, can be made more

manageable once you understand your options.

The first thing you must decide is whether you will attend school as a full-time or part-time student. Approximately 2/3of business students pursue their degrees as part-time students while continuing to work full-time. Although it will take

longer to earn a degree, the costs are more manageable and the amount of money youll need to borrow can be drasti-

cally reduced. Another consideration is if you work for a company that offers either full or partial tuition compensation

to its employees. If you can get your employer to reimburse you for all or part of your MBA education, you can avoid

going into debt altogether. Every employer handles sponsorships differently, so it is important for you to do some re-

search first. Some graduate-level business programs are only available to full-time students. If you attend one of these

schools, it will not be practical for you to work full-time. You will need to consider other alternatives to fund your edu-

cational expenses.

Since an MBA is a long-term investment, most students rely on loans to cover some or all of their education or living

costs. Before you take out any loans, however, it is important that you first check your credit report. Obtain a copy and

make sure there are no errors before you apply for loans.

Federal LoansIf you need to borrow money to pay for an MBA, federal loans are usually the best option. Other than having lower in-

terest rates, most federal loans have a deferred payment option. Examples of federal loans include Stafford Loans and

Perkins Loans. Of course, not everyone is eligible for government funded loans. Many loan programs are need-based.

Eligibility will be determined by the financial aid office of your chosen business school.

Private LoansBecause federal funding for graduate students is limited, federal loans will only get you so far. The rest of the money

must come from private loans, which have higher interest rates and usually dont have deferred payment. Eligibility

requirements for private loans vary depending on the bank, corporation, or foundation that is issuing the loan. The

best way to determine eligibility is to shop around and research as many different private loan resources as you can.

FULL-TIME OR PART-TIME

FUNDS YOU NEED TO PAY BACK


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Unlike loans, scholarships and graduate fellowships do not have to be

repaid. This type of funding is usually reserved for students with special

qualifications including: merit, financial need, ethnic background, gender,

or students who will pursue studies of a specific industry.

A great resource for scholarship search is FastWeb, which provides a free

scholarship search engine. Some other databases that you may want to

investigate are: Sallie Maes Online Scholarship Service, College BoardsFund Finder, and CollegeNET MACH25.

FUNDS YOU DONT NEED TO PAY BACK

5 Financial Aid Donts:

1. Dont be afraid to ask

for help.

2. Dont forget to budget

exactly how much you

need.

3. Dont borrow untilyouve done your re-

search.

4. Dont fall for scholar-

ship scams.

5. Dont abandon the col-

lege students lifestyle .


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MBAClass Profile 2010

Years of Work Experience:

Range 0-11

Median 3.9

Prior Industry Work Experience:

Investment Management* 30%

Consumer Products 24%

Consulting 17%

Non-Profit/Govt 11%

High Tech 9%

GMAT Scores:

Range 530-790

Median 730

TOEFL Scores:

Range 253-297

Median 280

Undergraduate Majors:Humanities/Social Science 46%

Engineering/Mathematics/

Natural Sciences 35%

Business 19%

Acceptance Rate: 6%

Total Applications: 5,741

Total Accepted: 362

By Sunny Wong

Senior Staff Writer

Since its inception in 1925, the Stanford Graduate School of Business has estab-

lished itself as one of the leading business schools in the world. Located in the

heart of Silicon Valley, the school has close ties with nearby venture capital and

high tech firms and has produced a considerable number of successful business

leaders.

Stanfords MBA programs have consistently ranked near the top. In 2008, the

School was ranked #1 by the U.S News and World Report, #3 by the Financial

Times, and #2 in the 2007 business school rankings by The Economistmagazine.

Besides its MBA programs, the Graduate School of Business also offers joint and

dual degrees in a variety of areas including a Juris Doctor (JD) and MBA, a Mas-ters of Arts in Education (MA) and MBA and a Doctor of Medicine (MD) and MBA

MBA PROGRAM

This is the standard two-year program that helps students develop their manage-

ment and leadership skills. Class sizes are small and students have the opportuni-

ties to work closely with faculty.


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MBA Admissions

The Stanford Graduate School of Business is the most selective business school in the United States. For the entering

class of 2007, the acceptance rate was a mere 6%. Although many factors are considered, the admissions committee

primarily evaluates candidates in three areas.

Intellectual Vitality

Leadership Potential

Personal Qualities and Contributions

For the Class of 2011, there are three essay questions.

What matters to you the most and why?

What are your career aspirations? How will your education at Stanford help you achieve them?

Choose two of the following four:

Option 1: Tell us about a time when you built or developed a team.

Option 2: Tell us about a time when you felt most effective as a leader.

Option 3: Tell us about a time when you tried to reach a goal or complete a task that was challenging,

difficult, or frustrating.

Option 4: Tell us about a time when you went beyond what was defined, established, or expected

OTHER PROGRAMS

Stanford Sloan Masters Program

Unlike the standard MBA Program, the Stanford

Sloan Masters Program is tailored more towards

professionals with 8 or more years of management

experience and is full-time, so classes are only of-

fered during the day, from 8AM to 5PM. The pro-

gram is also shorter by one year and has a much

higher concentration of international students.

Upon completion, graduates will earn a Master of

Science in Management degree.

Ph.D. Program

For those interested in academic research and

management education, the Ph.D. Program offers a Doctor of Philosophy degree. Students can choose to concen-

trate in one of the seven areas of study, ranging from finance to marketing to political economics. Many graduates of

this program go on to become professors while others work for the large economic institutions such as the Interna-

tional Monetary Fund.

Executive Education

Stanford also offers a set of programs for experienced executives who desire to enhance their skills in a particular

field. There are programs falling under financial management, marketing, and leadership and strategy and are usuallya few months long. After the program, participants head back into their workplace with a new set of friendships from

around the world and an enhanced skill set in management.

Summer Institutes

Stanford also offers two summer institute programs for undergraduates and graduates.

The Summer Institute for General Management

The Summer institute for Entrepreneurship


18/25


19/2519

CHINA EUROPE INTERNATIONAL BUSINESS SCHOOL (CEIBS), SHANGHAI, CHINA

CEIBS was established in 1994, but already has a prominent po-

sition among the top business schools in the world. CEIBS

unique bridge between Europe and China gives the school an

international touch along with its strategic partnership with the

University of Michigan at Ann Arbor in the United States, among

other schools in Germany, France, and Spain. CEIBS offers MBA,Executive MBA, and various executive education programs.The

Executive MBA program is the largest in the world, with over

700 enrolled students, and is ranked third worldwide. Within

one decade, CEIBS has become the go to school for students in

China, in addition to students from around the globe.

http://www.ceibs.edu/

INSEAD is one of the worlds largest graduate schools in busi-

ness. This business school touts itself as a truly global business

school; indeed, the motto of the school is The Business School

for the World. This truly differentiates the school from other

business schools across the globe. INSEAD has two physical cam-

pus locations, with campuses in both France and Singapore,

along with centers in Israel and Abu Dhabi. MBA students have

the option of moving between the two campuses. INSEAD also

has a strategic alliance with the prestigious Wharton School of

Business at the University of Pennsylvania. INSEAD offers MBA,

Executive MBA, and PhD programs.

http://www.insead.edu/

London Business School is consistently ranked as one of the top busi-

ness schools in the world. The university is indeed a global one as well

with the student body at any given time representing over 121 coun-

tries, world-renowned faculty from more than 30 countries, and

alumni based in over 120 countries. The location of the school, in Lon-

don, also offers students a unique opportunity to live and study in a

truly global city. London Business School offers a rich portfolio of de-

gree and non-degree programs to suit students and executives at

every stage of their career. The following degree programs are of-

fered through the school: MBA, Executive MBA, EMBA-Global, Dubai-

London Executive MBA, Sloan Fellowship MSc, Masters in Finance, and

PhD.

http://www.london.edu/

INSEAD, FONTAINEBLEAU, FRANCE, AND SINGAPORE

LONDON BUSINESS SCHOOL, LONDON, UNITED KINGDOM
http://www.ceibs.edu/http://www.insead.edu/http://www.london.edu/http://www.london.edu/http://www.insead.edu/http://www.ceibs.edu/


20/2520

In just over 40 years, IIMA has

grown from being Indias premier

business school to one recognized

internationally. Through

collaborations with universities

around the world, including

Harvard University, IIMA offersstudents a unique blend of

Eastern and Western values. In

addition to the traditional MBA

program, IIMA also offers an MBA

with an Agri-Business emphasis, a

one year executive MBA program,

and a doctoral program involving

research training with students

choosing from ten unique areas of

specialization.

http://www.iima.ac.in/

INDIAN INSTITUTE OF MANAGEMENT (IIMA), AHMEDABAD, INDIA

1. University of Pennsylvania

Wharton, U.S.

2. London School of Business, U.K.

3. Columbia BS, U.S.

4. Stanford GSB, U.S.

5. Harvard BS, U.S.

6. INSEAD, France/Singapore

7. MIT Sloan SM, U.S.

8. IE Business School, Spain

9. University of Chicago GSB, U.S.

10. University of Cambridge Judge BS, U.K.

FINANCIAL TIMES MBA RANKINGS
http://www.iima.ac.in/http://www.iima.ac.in/


21/2521

By Erika K. Solanki

Staff Writer

College students struggle with deciding their future, whether it is start-

ing a career or continuing their education at a higher level. Luckily for

American students, they have the choice of staying local, going across

the country, or even leaving the country. For international students, it is

not that easy. International students have to decipher a complicated

process in order to study in America and then have to decipher an evenmore complicated process once again if they want to stay in America for

more than just school. International students, restricted by visas and

immigration laws, have to jump through loops and holes to stay in the

United States. Below are explanations of some of these loops and holes

to give international students a head start.

An international student has the opportunity to apply for em-

ployment directly related to the students major area of study ifgranted permission for optional practical training. Before stu-

dents complete their bachelors degree, they should apply for

practical training through the United States Citizenship and Im-

migration Services (USCIS) because the application can take

two to three months or longer to process. Students can apply

as early as 120 days prior to their graduation for optional prac-

tical training. Students do not need a specific job offer to apply

for OPT employment authorization. If the student is granted

authorization for temporary employment, the international

student will be able to stay in the U.S. for an additional four-

teen months after the completion of their bachelors degree,

twelve of which are authorized for employment. Students canchoose their starting date for their OPT no later than 60 days

after their bachelors degree graduation date. Once the OPT

application is approved, the student will be issued an Employ-

ment Authorization Document card, similar to a work permit.

Although the process of issuing an EAD may take longer than

expected, students may not begin work prior to the employ-

ment date state on their EAD cards.

For examples of forms and detailed application checklist visit: http://www.immihelp.com/immigration/employment-

authorization-document.html

INTERNATIONAL STUDENTS

POST-BACHELOR DEGREE:

NOW WHAT?

OPTIONAL PRACTICAL TRAINING


22/2522

After fourteen months, students have three options:

1. Return to their countries of origin. Depending on the students country

of origin, employers in almost all countries view degrees obtained in the

United States as equivalent or perhaps more prestigious than the degrees

obtained in their own country.

2. If hired by the employer, the employer can sponsor the student on an H-

1B visa. An H-1B visa is a non-immigrant visa that allows U.S. employers toemploy foreign guest workers in specialty occupations. The U.S. limits the

number of H-1B visas granted each year, so approval of a students H-1B visa

is never guaranteed. If the students request for an H-1B is granted, the stu-

dent can also have the intent to immigrate permanently to America.

3. Apply and attend graduate or professional school. Students are eligible

for twelve months of optional practice training for each level of higher edu-

cation (masters, Ph.D., etc.); however, if a student is completing a second

degree in the same level of education (i.e. a second bachelors degree) then

the student is not eligible to apply for OPT at the completion of the students second bachelors degree.

The H-1B visa allows American companies and universities to

temporarily employ foreign workers who have the equivalent

of a U.S. bachelors degree. Students can secure a sponsorship

by an employer a few months prior to the completion of their

degree. Students could do Optional Practical Training before

trying to secure an H-1B visa or students can try to directly

secure an H-1B visa. An H-1B visa is more difficult to secure

because students need to have employer that are willing tosponsor them. Employers are more likely to sponsor students

after they have worked with them for a year through Optional

Practical Training.

International students must follow application guidelines and apply to the graduate and professional programs of their

choice; however, students must submit financial certification that demonstrates adequate funding for one year of

study. Upon acceptance into a program, the university will sponsor the student on a student visa. The two types of stu-

dent visas are F or J visas. F visa students must be totally funded by personal or family funds whereas J visa students

must be substantially funded by institutional or governmental sources. The F visa does not carry a health insurance re-

quirement, whereas the J visa does carry a health insurance requirement. J visa students must leave the U.S. in thirty

days after the completion of their program, whereas F visa students must leave within sixty days after the completion

of their program. A major difference between the two visas is that J visa students, who are financed fully or partially by

the U.S. government or their own government must return to their country of origin for two years before returning to

the United States in immigrant or worker status. F visa students have more options such as applying for Optional Prac-

tical Training or H-1B visa status after graduation. Students should aim for F visa status if their financial situation allows

them to because it will give them more future flexibility once they obtain their degree.

H-1B VISA

APPLYING TO GRADUATE AND PROFESSIONAL SCHOOLS


23/2523

By Gloria Ho

Staff Writer

With the current job market shrinking, many of us will be delaying entering the workforce and, instead, staying a few

more years in school. Though undoubtedly a sound option, there are a few factors to consider before applying.Have you taken the required tests? When is the deadline to apply? Even for those who will become an associate

come September, these things should be taken into account if you do decide to return to school. For students who

are considering business school or law school as an option, see below for a timeline that will keep you on track.

ON TRACK FOR

BUSINESS/LAW?

BUSINESS SCHOOL:

1st Year Think about what sort of career you

would like to pursue after graduation

and if business school is a suitable

path for you Talk with upperclassmen and MBA

students to gain perspective

2nd Year Start gaining experience, either

through an internship, part-time

work, or volunteering, in the business

related profession that you are inter-

ested in

Begin thinking about when to take

the GMAT

Plan a visit to a career counselor

3rd Year Determine which area of business

you would like to pursue and gain

experience in

Find a summer internship related to

a field you consider working in after

graduation

4th Year Consider taking the GMAT early

Land a full-time job for after

graduation

LAW SCHOOL:

2nd Year Familiarize yourself with the rigors of law

school

Determine whether or not law school is th

route you wish to pursue right after underg

3rd Year

September Research different law schools and the law

school application process

Keep a lookout for potential writers of let

ters of recommendation

Start studying for the June LSAT

See what its like to work in law by gainin

experience at a law firm or non-profit organ

zation

March Register for the June LSAT

Start talking with a pre-law advisor

Start thinking of who could write your

letters of recommendation


24/2524

BUSINESS SCHOOL CONTINUTED:

fter graduation: year before you would like to attend

usiness school:

anuary Begin researching business schools and

what programs they offer

Review last years application

ebruary If you have not yet taken the GMAT, be

gin preparing

Take a free GMAT practice test

March Consider enrolling in a GMAT prep course

pril Register for the GMAT

Contact potential writers for your letters

of recommendation

May Continue studying for the GMAT

Decide upon which schools you will be

applying to

Consider visiting the campus

une Take the GMAT

Request all undergraduate transcripts

Register for the GMAT (for retakes)

uly If you are applying to more than five

schools, submit a GMAC Additional Score

Report Retake the GMAT if necessary

ugust Register for business schools online

applications

Familiarize yourself with the application

processes and requirements of the schools

you are applying to

For schools with different rounds of ac-

cepting applications, decide which round

you will be applying

Begin the first draft of your essays Follow up with the writers of your letters

of recommendation

Sign up for interviews for schools that

conduct open interviews

Update resume

eptember Revise and polish your essays

Fill out applications

LAW SCHOOL CONTINUED:

June Take the LSAT

Write a draft of your personal state-

ment and have it looked over by your

pre-law advisor

Tailor your resume for law school

Finalize the list of law schools you plan

on applying to Finish the final drafts of your essays

July August Register with the Law School Data As-

sembly Service (LSDAS)

Send all your transcripts after high

school to LSDAS

Familiarize yourself with the law

schools you will be applying to and, if

possible, visit the campus

If necessary, register and prepare for

the October LSAT

4th Year

September Finish writing your personal statement

Ask your professors for a letter of rec-

ommendation

Update your resume

Request financial aid information if nec-

essary

Begin filling out applications on LSAC

October If needed, take the October LSAT

Finalize your personal statement andletters of recommendation

Make sure all documents needed to

complete your LSDAS report have been

submitted

Double-check your completed applica-

tions

November Send out your applications

If needed, obtain applications for fi-

nancial aid

December Contact law schools to confirm that

your applications were received and are

complete

January Send an updated transcript to the law

schools you applied to and to LSDAS

Submit completed financial aid forms

Begin preparing for law school inter-

views (some law schools may not con-

duct interviews)


25/25

BUSINESS SCHOOL CONTINUTED:

October Send in your completed Round I appli-

cations

Send thank-you notes to the writers of

your letters of recommendation

November Prepare for Round I interviews

Start planning for Round II deadlines

December Begin receiving Round I decisions

Begin Round II applications and

materials if necessary

January Continue to receive Round I decisions

File for financial aid if necessary

Submit Round II applications

March Submit Round III applications if

necessary

April Receive decisions for Round II

May Receive decisions for Round III

LAW SCHOOL CONTINUED:

February Receive law school decisions

April Evaluate acceptances and financial aid of

Decide which school to attend

Submit your acceptance letter and notify

other schools

BBR Questions, Comments, ConcernAbout Us

Bruin Business Review is a student-run

online publication established in 2007 for

the purpose of providing the UCLA student

body with a convenient source of business

news and career information. We publish

every two weeks on the Internet, allowingour content to be accessible to everyone.

Our goal is to enrich our readers knowl-

edge of the business world and the career

options within it by presenting a wide

range of business-related topics in a non-

technical style. Our broad range of topics

encompasses current business news,

sume tips, employer and MBA progra

profiles, industry insight, and others. F

more information about BBR, vi

www.bruinbusinessreview.com.

E-mail: [email protected]

Mailing address:

Bruin Business Review

118 Kerckhoff Hall

308 Westwood Plaza

Los Angeles, CA 90024-1641

BBR Volume 2 Issue 5

Documents

Transcript of BBR Volume 2 Issue 5