Admissions Straight Talk

Today’s show has something for pre-meds looking to prepare for the MCAT and for MBA wannabes interested in Harvard Business School.

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Meet Alec Lee [1:15]

Alec is the co-founder of the online prep course M Prep. He graduated from the University of British Columbia in 2011 with a BS in BioTechnology and a minor in philosophy. After completing the first year of his MBA program at HBS, he decided to take a leave of absence to work on a start-up.

What is M Prep [2:07]

It’s a full-service MCAT prep company. They started by offering an MCAT question of the day – to help students prepare on a daily basis (and avoid procrastination). And now they’ve grown that product into passage-based prep and a full prep course. They also offer other services/resources, such as a database of med school info, etc.

How M Prep has adapted to the new MCAT [3:25]

They started developing resources a few years ago when AAMC released info on the new exam. Overall, the strategic goals of the new exam are the same as the old one, so there’s some overlap. But the new sociology/psychology section required substantial development, as did the biochem material. They’ve also upgraded their prep materials in response to the actual exam after it was released.

Focus on content review or test strategies? [5:45]

Everyone knows what subjects will be tested – there are a lot of free resources for content review. So M Prep’s goal is to add value on the strategy side. But they also do a comprehensive content review.

What students should know about preparing for the new MCAT [7:00]

For the old exam, he advised 2-4 months prep time; now he advises 6 months, especially if applicants are full-time students. And it’s best to take as many pre-reqs as possible before the exam (especially soc/psych and biochem), to be ready for that material.

When should applicants retake the MCAT? [9:20]

Aim for the scores you need, not the scores you want – that is, know what it actually takes to get into med school. The new MCAT is a bit of a wildcard at the moment.

Factors to consider when deciding whether to retake the exam: the combination of your MCAT and GPA (do you need a higher MCAT to offset a lower GPA?). What schools are you applying to?

Transition period for new MCAT [14:45]

Schools are adjusting to data from the revised exam, so it’s only natural for scores to be weighted a little less while they get used to the new exam.

What’s next for M Prep [15:35]

Launching a full set of practice exams for the new MCAT – the first three are coming soon, and more in a few months. They’re developing a lot of new content.

Advice for premeds [17:08]

Start early! It makes a big difference for test prep. Let the MCAT be a rite of passage – see it as an important step, rather than something you just have to endure. Attitude matters.

When you’re looking for help with test prep, consider the track record of the instructor in helping students prep for the exam. Look for someone who’s a good coach and teacher – not just someone who has a high MCAT score.

His HBS experience,

Are you an aspiring entrepreneur? Considering an MBA at Cornell Johnson? Or are you thinking of applying to MBA programs with less-than-average work experience? If this is you, you’ll want to listen to this week’s show!

Introducing our guest [0:44]

Meet Jonathan Hua, a first year MBA student at Cornell Johnson and Editor in Chief of the Cornell Business Journal. He is also an Associate of the Entrepreneurship and Innovation Institute at Johnson and co-founder of the start-up UNICiD.  

Jonathan grew up in Taipei, and attended Rice University in Houston, where he earned his bachelors in history and got bit by the start-up bug. Somewhere along the way he spent two years in Tokyo, He plays trumpet and also trains for triathlons.

Path to b-school [1:47]

He started off pre-med, but when his friend recruited him to work with a start-up, he became interested in business. Realizing his strength in communication, he decided on a history major. He applied to b-schools his senior year and deferred offers to work on UNICiD—a 3D fitting room application for online shopping. Working on start-ups made him realize he needs a formal b-school education.

Learning about leadership from diverse fields – such as history [7:10]

Why Cornell Johnson? [7:35]

Jonathan anted a new challenge in a very different environment (new climate, small town vs big city). He was impressed by the core curriculum and respected Cornell’s recent investment in entrepreneurship education – an example is the Cornell Tech campus.

Any challenges adjusting? [10:35]

Small town forces you to be more proactive—a good experience.

Hardest part of the application process [12:20]

Since he was applying right out of college, he didn’t have traditional work experience to draw on in his application. The essays are also challenging – such as the Table of Contents essay, which requires creativity.

How he made the case for admission with no work experience [14:55]

Focused on describing his goals and the practical management experience he’d gotten from his startup experience (teamwork, leadership, getting funding, etc). Identified what he needed from b-school, why it was important to go: sold them on potential.

What’s great about Johnson? [19:30]

It’s academically challenging. Team projects are great, and the experience of working with diverse team members is a really valuable part of the experience.

Areas that have fallen short [21:52]

The MBA program is working on boosting entrepreneurship education, but the resources still aren’t as extensive as they are for other areas (such as finance).

Cornell Business Journal: his plans [28:20]

Looking to publish his first issue as editor-in-chief by April. He plans to expand the scope of the journal beyond the b-school: looking for writers from diverse backgrounds interested in policy issues, the application of business concepts to broader topics, etc. His model is The Economist.

Associate of the Entrepreneurship and Innovation Institute [31:45]

This means he takes entrepreneurship classes, promotes entrepreneurship education at Johnson, and will complete a capstone project (capstone can be starting your own company, helping another start-up, etc). Associates who fulfill all the requirements become “Fellows” of the Institute at graduation.

Has what he’s learned in class helped him with his start-up? [34:00]

Yes,

On this week’s show, we shine a spotlight on a great resource for premed students – both students deciding where to apply, and those students in the happy position of deciding among multiple med school acceptances.

MedhounD [0:47]

A site that gives you tons of data on medical school placement i.e. results — where graduates of specific medical schools go both geographically and in terms of residency placement.  And a few other statistical pieces too. 

Meet Evan Dugdale and Anthony Cusano, the creators/owners of MedHounD. [1:35]

Currently M2s at BU. Evan attended Williams College where he earned a bachelor’s degree in chemistry in 2013.  Anthony attended Boston College. He too graduated in 2013 with a degree in biology. They’re both hockey players.

What is MedHounD? [2:18]

It’s the first service to compare med schools based on their success rates in the residency match. They use match lists, NRMP data on acceptance rates, etc., to rate schools on their performance year to year. Students can see and contrast schools’ success at placing residents in very competitive residencies, for example.

How do students use it? [4:00]

MedHounD costs $9.99 for a 1-year subscription. You can use it to identify schools during the application process (helpful if a student has a goal in a particular specialty and wants to know placement outcomes). And it can also help students make enrollment choices when they’re evaluating multiple offers.

How did they start it? [5:35]

Evan: The idea came during the application cycle. He had narrowed his choices to two schools, and researching the match outcomes of both schools helped him make his decision – the data was helpful. Before entering med school, he created a prototype with just a few schools; he and Anthony were roommates their first year and decided to build MedHounD.

Analytics also factored into Anthony’s decision to attend BU: he weighed location, etc., but also considered match lists.

Did they have clear-cut goals (re: specialty) before med school, and have those goals changed? [9:20]

Anthony: Med school has complicated the decision-making process. He’s looking to 3rd year rotations for firmer goals.

Evan: Started medical school thinking of surgery (not sure what specialty). He’s still leaning in that direction, but also looking to 3rd year rotations to help shape his decision.

Is it useful before starting medical school to weigh med school results even if goals change while in med school? [12:08]

In short, yes. Knowing schools’ track records is helpful information.

Do they plan to add student competitiveness metrics? [15:40]

Yes. Right now they’re working on making it easier to compare schools using their tools. But they plan to collect user data year-to-year – including GPA, MCAT, etc. – so students can see where they fit.

What is the “no place like home” metric? [17:10]

It reflects the percentage of students who do their residency at the same place they went to med school – they see this as a gauge of how happy med students are at their institutions and teaching hospitals.

Why did they name their site “MedHounD”? [18:15]

Because they sniff out data like a hound – searching for deep info to help students make informed decisions. And for Hank, Anthony’s dog.

When did they find the time, as med students, to create MedHounD? [20:20]

Anthony: “We’ve become good at time management during med school.

Today’s show: a conversation for anyone with student loans. We’re talking with CommonBond’s Phil DeGisi about options to save money by refinance outstanding student loans and financing your education, as well as CommonBond’s MBA Accelerator and Social Impact Award and his own MBA experience.

Meet Phil DeGisi [1:40]

Undergrad at Vassar, Tuck MBA. After earning his MBA, he focused his career on merchandising and then digital marketing. In 2014 he became VP of Marketing at CommonBond and just 3 months ago, he became CB’s Chief Marketing Officer.  

CommonBond Overview [2:25]

CommonBond considers itself a values-driven and customer-service centric lender. They can refinance your undergraduate or graduate loan at a lower interest rate, potentially saving you significant money over the life of the loan. And they offer new loans for MBA students at low rates.

Parent PLUS loans, too [4:50]

Most Parent PLUS loans have a higher interest rate- 7-8%- so refinancing for a lower rate can save a lot of money. It’s also possible to transfer the loan from the parent to the child, which can help the student build their credit history.

The 3 S’s: Savings, Simplicity, Social Good [6:05]

Saving: students can save over $14k on average (over the life of the loan) by refinancing. Simplicity: it’s easy to get decisions and information. Social promise: for every loan they fund, they also pledge to fund the education of a child in the developing world. They partner with Pencils of Promise.

A fourth element is customer service: the marriage of tech and customer service. The decision to refinance $100K in debt is a big decision, so it’s important to be able to talk to someone—they offer live chat, email, phone.

How does it work? [8:39]

Go to the site and get a rate quote (to do that, only basic info is required). This is an estimate with no credit impact. If you are interested in moving to the next step after that, you can supply more detailed information electronically (pay stubs, etc).

Applying for an in-school loan for MBA [10:05]

Also a straightforward, easy application process. MBA loans have a 5.78% APR for a 10-year loan.

MBA Accelerator Program [10:45]

CommonBond has developed an internship program for MBAs, where interns design and build a product that solves a problem in personal finance. A previous intern (who originally learned about CommonBond by borrowing from them) is now a full-time employee.

Social Impact Contest [14:00]

They consider themselves a “values driven company” and are looking to reward and mentor entrepreneurs who are using business to drive social change. The award is $10K, and the application is open through the end of February. The initial entry is a 2-minute video: how your business is a force for positive change.

Where CommonBond is going next [16:55]

Striving to keep making finance more human. And they see a potential for CommonBond to be a platform for financial services beyond student loans.

DeGisi’s own MBA experience at Tuck [21:30]

He’s definitely glad he went! The Tuck network has helped him in his career.

What does he miss? [23:40]

It can be easy to take some b-school opportunities for granted—such as access to great speakers. And some classes you don’t necessarily appreciate fully at the time are really important in hindsight.

He paid back his $150K in student loans in about 6 years,

If you’re a pre-health student interested in international travel and one of a kind clinical experiences, this is the show for you!

Meet Ricky Persson of Gap Medics [1:40]

Gap Medics overview [2:16]

Gap Medics coordinates short term shadowing placements in the health professions for high school and college students. The placements are in 1-week blocks; most students sign up for 1-8 weeks.

How does it work? [3:40]

Students apply on the Gap Medics website—choose the destination they want to go to, the type of health professional they want to shadow, and when they want to go and for how long. The program assigns mentors based on students’ interests.

Where in the world? [4:48]

Currently there are programs in Africa (Tanzania), Europe (Poland and Croatia), America (Dominican Republic), and Thailand.

Who are the participants? [5:45]

Most participants are from the US, UK, and Canada, but there are increasing numbers from Asia, Africa, and Latin America. The language of instruction is English (mentors will translate for students).

How much does it cost? [6:37]

A 1-week placement in Tanzania or the Dominican Republic is $1740 (though if you stay longer than a week, the average weekly cost generally goes down).

What do the placements involve? [7:30]

It’s a hands-off shadowing experience—an observational learning experience, in accordance with AAMC guidelines. Students may attend meetings, rounds, observe procedures, etc.

Any opportunities for cultural exploration or touring/travel? [8:45]

Some students may stay longer to travel. There are often opportunities to attend cultural performances, explore restaurants, etc.

A typical week on a placement [10:15]

Students are met at the airport and taken to the Gap Medics house to settle in. They’re given an orientation and intro to the area. The shadowing week is M-F—generally 23 hours. If they stay longer than 1 week, they can shadow a new specialty each week. Each day, they’ll have the opportunity to go out to dinner, explore cultural offerings, etc.

Security issues [11:33]

The destinations are vetted carefully, and they monitor all travel alerts/warnings. The houses where students stay are secure and in safe neighborhoods. And the program adheres to AAMC guidelines for time spent in the hospital, to protect students and patients.

Feedback from alumni who are in med school [13:22] 

There’s an involved alumni community, and they keep in touch with their stories about applying to med school.

What about people who decide—after shadowing—that med school’s not for them? [14:30]

Shadowing helps people make an educated decision, so this is a good thing. Some students also decide to pursue a different type of health career (than their original goal) after shadowing.

Where is Gap Medics going in the future? [15:42]

Just added new specialties and some new locations—including a program in the Dominican Republic on medical Spanish.

How will this experience help pre-meds’ applications? [16:45]

It helps people understand and articulate their motivation for pursuing a health career. People also gain experiences in medical education, crossing cultural barriers, and patient care, which are often meaningful experiences to draw on for essays and interviews.

This week, join Accepted’s own Jen Weld and Cindy Tokumitsu for the inside scoop on EMBA admissions.

Listen to the show!

Meet Jen and Cindy. [1:10]

Jen came to Accepted after serving as Assistant Director of Admissions for Cornell’s EMBA program. Cindy joined Accepted in 1998, after working as a writer and editor. She specializes in MBA and EMBA admissions. Welcome, Jen and Cindy!

What makes a good EMBA applicant? [2:10]

Cindy: Someone who has a lens on their industry and experience—something that makes them memorable.

Jen: Candidates who would contribute to the learning environment.

How are the criteria different for EMBA programs (vs full-time MBA programs)? [3:30]

Since EMBA programs attract applicants with more work experience (10-15 years vs 4-5 years for MBA), there’s more of an emphasis on your professional experience. Academics and GMAT are still important to show academic readiness, but aren’t as crucial.

Full-time programs have more of a focus on the applicant’s recruiting potential (whether candidates can be placed upon graduation). But EMBA students won’t generally be relying on the program to place them on graduation. They are employed and expect to remain so while going to school.

It’s important for EMBA applicants to show management experience [5:40]

Career services and EMBA students [6:30] 

In the past, most programs didn’t provide EMBA students with access to career services. Now most programs offer something—such as a career assessment or access to the “resume book” for recruiters. But not on-campus recruitment.

What do they wish EMBA applicants knew? [8:40]

Jen: trying to hide weaknesses in a profile doesn’t work. Somebody’s going to notice. It’s better to address it rather than be in a defensive position later on. This is why Cornell asks whether your academic record is an accurate reflection of your ability.

Cindy: Being able to self-critique shows strength. Also: if you’re changing careers, you need to be able to show how that will happen – present a plan.  And take into account relationships with your company, particularly if they’re supporting you with time off. And most of all, make it interesting.

What makes an application great? [13:35]

Cindy: Confidence. Assuming that someone is already qualified – what sets an application apart is the ability to tell lively stories, write well, show the ability to prioritize, make decisions, etc.

Jen: I want to see who the person is, beyond their career progression – beyond the resume and transcript. Show something of yourself.

The point of anecdotes: not just what you did or experienced, but what you got out of it/learned from it. Your perspective on those events. [17:00]

How to distill lots of experience into a short essay [18:00]

Jen: Relate experiences to courses they’ll be taking – how those experiences will elevate the overall learning environment.

Cindy: Remember that everything you write about requires a strategic decision. What will support your application and portray you effectively? Think about experiences that show your executive level experience and skills – making decisions, managing people.

With a hat-tip to Valentine’s Day, this show is about a dating app for the “smart, busy and ambitious” as well as life at Stanford GSB and start-ups.

Meet Amanda Bradford: [0:46]

She earned her bachelors in Information Systems in 2007 from Carnegie Mellon.  After getting her degree, Amanda worked for leading tech companies like Salesforce, Google, and Sequoia Capital. After earning her MBA from Stanford GSB, she founded The League, a dating app with privacy controls and “curation.”

What is The League? And how is it different from other dating apps? [1:16]

Online dating can be overwhelming, and offline dating can be inefficient; The League is designed to address both of these issues. It aims to provide “quality over quantity” and takes people’s professional privacy into account—the app serves up 5 matches a day, with no overlap from Facebook or LinkedIn contact lists.

What does “curation” mean in this context? [3:26]

Both the app’s admissions process—which limits the profiles on the app to “high quality” profiles (to eliminate the problem of fake profiles many sites have)—and the careful matching process.

Plans to Expand  [4:00]

They currently operate in SF and NY and have 100,000 people registered. They plan to expand to other large cities with a young urban professional demographic—such as LA, Boston, London, etc.

Amanda’s Story [5:56]

After various media reports about The League – not all flattering – Amanda wrote her own story on LinkedIn explaining why she founded The League. She decided to tell her personal story about dating as a career focused woman, and clarify the mission and values of the company.  “I’m Not An Elitist, I’m Just An Alpha Female” has been viewed over 235,000 times. 

Why did she pursue her MBA? [8:24]

Working at Google, she had strong role models and saw the career paths of women she admired – many of whom had MBAs. And she was looking for the tight knit network that you build during an MBA.  

Why Stanford? [9:49]

It’s known for cultivating entrepreneurs, and she wanted to help build something from the ground up.

What did she learn in b-school? [10:57]

You learn how to respond to situations – gain self-awareness and business acumen. The management skills she gained have been helpful.

The League’s initial funding [14:41]

Her Stanford network was definitely crucial! Stanford provides a lot of opportunities for networking with venture capitalists, and she did an internship in venture. A lot of the initial investors were connected to Stanford and people she met there.

Additional value: classmates [16:04]

Being around such smart, talented people also helped her develop the company – feedback from her classmates helped her with marketing, etc.

What do people get wrong about Stanford GSB? [17:05]

Often, people think b-school is just about partying and networking. But at the core, you’re meeting hardworking, smart people who are doing really interesting things. It’s a powerful network.

For people who want to go to Stanford GSB – is there a “secret sauce”? Something that students there have in common? [19:21]

A tendency to take risks: speak up in class; start an organization. People at Stanford are doers.

Qualities of entrepreneurs [21:20]

Hustle, scrappiness, hard work, grit/persistence.

Applying to HBS? Join us for a conversation about Harvard Business School, entrepreneurship, leadership, and admissions.

Our guest today is Adam Nathan, who earned his MBA from Harvard Business School in 2015 as a Baker Scholar and joined Accepted a few months ago. Adam graduated from Duke in 2010 and was accepted to the inaugural 2+2 class at HBS. Before starting at HBS he worked briefly for the White House and then as an Associate and Senior Associate Consultant for The Bridgespan Group, the non-profit associated with Bain Consulting, and finally he worked in Network Strategy for Hawaiian Airlines.  While at HBS, he started Ace Travel.

A Duke grad’s journey to 2+2 [2:30]

Why a b-school education is significant—leadership roles, potential to solve problems in both the public and private sector. He sees an important social role for business.

What is great about HBS? [4:13] 

The intentional application of management principles to every experience; great professors (and a culture that truly values teaching); the case method. And the people: your classmates are obviously smart and accomplished, but also genuinely nice, good people.

What he misses about HBS: the opportunity to devote time to thinking about big questions, reading, absorbing experiences. [8:48]

Any changes he’d like to see at HBS? [11:09]

More of a focus on helping people develop a sense of purpose—who they want to be, what they want to do, how they want to help other people. He thinks Harvard can start working on this by beginning to shift the definition of success—and that the application process is part of that (asking applicants to present themselves as humans with values rather than just resume items).

HBS social life- is it expensive/elitist? [17:11]

He explains that there is a bit of a “pay to play” culture, but that most people see it as an investment that will pay off later. I.e., people spend money on trips, retreats, and so on—budgeting up to $20-30k above tuition costs. Many people come into b-school already well-off, but he concedes this can be tough for students from non-traditional and less affluent backgrounds.

How is the admissions process evolving? [19:33]

It’s moving away from just numbers and resumes to focusing on who students are as people— their values, what inspires them, how they think about things. Most HBS applicants could probably handle the academics, but that’s not sufficient—the committee’s looking for human virtues.

He was part of HBS’s inaugural 2+2 class. Would he do it again? [22:12]

YES! it was definitely the right choice for him. Knowing he was HBS-bound allowed him to pursue work he was especially interested in before beginning his MBA.

Start-up: Ace Travel [24:23] 

He’d worked at Hawaiian Airlines before b-school, so he had an understanding of the challenges facing the airline industry. At HBS, he wanted to design a better business model for the travel industry and developed Ace Travel, which allows customers to design their travel experience end to end. How did HBS help him launch Ace Travel?  HBS provided a small amount of money for initial research, seed investors, and also additional support from the HBS network and alumni.

The secret to HBS admissions? [31:28]

Be true to yourself. If you’re just saying what you think will make the adcom like you, you’ll blend in.

 

Not proud of your undergrad GPA? Concerned it will hamper your chances of graduate acceptance?  Get ready to find out what to do about it.

The 5 A’s for your low GPA:

1. Assess your GPA (2:40)

Is it really low?

I define a low GPA as one that is .3 on the U.S. 4.0 scale or more below your target school’s average GPA for accepted students.  This information can usually be found in the posted class profile and sometimes in U.S. News rankings.  An alternative definition, which also works in my book, is a GPA that is below the target school’s 75th or 80th percentile, if you have that information.

Let’s take a look at either these definitions and discuss what’s good and bad about them.

The Good

Either of these definitions is relative to the schools that you are targeting.  So if you have a 3.3 and the average GPA of the entering class is a 3.3, you do not have a low GPA. However, don’t tune out yet. If you have that same 3.3 and the schools you are aiming for has an average GPA for accepted students of 3.7+, as do several medical schools, Stanford Business School, a few law schools, and other graduate programs, then you have a low GPA. And you should definitely listen in to the rest of this show.

The Bad

While I like this definition, I also have to issue some warnings and caveats.

• Admissions is about much more than GPA, as you will see later in this show. You cannot look at any one number and focus exclusively on it.

• By focusing on the average, the definition doesn’t reflect the impact of trends in GPA or extenuating circumstances.

• It doesn’t reflect the impact of diversity and non-academic experience on how schools view these numbers.

• Doesn’t reflect how far away you are from the average. A little below is less of a problem than a full point below.

The elements that are not included in my definition – really the fuzzier aspects of admission and the flaws in my definition– provide opportunity for those of you who may have a low GPA and still want to attend the program of your dreams.  They allow you to show that your GPA doesn’t define you or your capability.

2. Analyze the cause(s) of your low GPA (6:19)

Ask yourself:

• Did you have a hard time adjusting to college so your GPA took a hit your freshman year, but improved every year with your landing on the Dean’s List for the last two years and having a 4.0 the last year?

• Did illness or circumstances beyond your control cause a drop in your grades for a specific period of time?

• Did you declare the wrong major and have poor grades in that major until you realized your true calling? Then you started to excel.

• Were you working part-time to support yourself or did you have a major sports commitment in order to qualify for an athletic scholarship?

• Did you start out strong, maybe earning a 3.9 during your freshman year, but then lost your motivation? Did your grades drop steadily so that your GPA average during your senior year had declined to a 3.1? This trend is a red flag even if the overall GPA is a 3.4 or 3.5.

The list above presents several causes in order of difficulty in overcoming them (easiest to hardest).

The causes of your low GPA – as well as how low it is – will influence how you deal with it and how much effort you must expend to mitigate it.

//

3. Address your low GPA (8:10)

The basic goal in addressing your GPA is to show it isn’t an accurate reflection of your ability, to show you are capable of much, much more.

There are two basic steps to make that case:

1. Ace your test. Whether it’s the MCAT, GMAT, LSAT,