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AnnualReport2011/12
The Veritas Prep 2011-12 Annual Report for Columbia Business School
At Veritas Prep, we make a point of following trends and noting changes in the landscape of top business programs. Over the years, Columbia Business School has tended to move around the rankings quite a bit, yet decade after decade, it is always in the top ten, and often in the top five. Columbia is often at the top of our clients lists, too. This is due to the overall reputation and prestige of Columbia University, its prime location in New York City, the finance capital of the world, and the impressive history of the business school itself as a feeder to Wall Street and other industries. Of course, these are the elements that everyone knows about Columbia. We have developed this Annual Report to introduce you to the other strengths behind the Columbia Business School brand - and to alert you to changes in the admissions process - to help you best to position yourself for success at this very competitive program. Our deep experience and long track record of helping clients gain admission to Columbia Business School informs the content of this Annual Report, and we hope you find it useful.
Whats Inside
About Columbia Business School ..............................................2 Whats New at Columbia ..............................................................6 The Columbia Business School Approach ..............................7 What Makes Columbia Business School Different? .............8 Admissions at Columbia............................................................. 10 Application Options: Early Decision and the J-Term .................................... 10 Deadlines........................................................................... 12 2011-12 Essays & Essay Strategies ............................ 13 Admissions Statistics ..................................................... 16 Columbia Business School Students...................................... 17 Columbia Academics & Grading Policies.............................. 18 Notable Courses and Faculty at Columbia Business School.................................................... 22 APPENDIX ........................................................................................ 24 Admissions Statistics ..................................................... 24 Visiting Columbia ........................................................... 24 Costs & Financial Assistance at Columbia.............. 26 Professional Recruitment at Columbia ................... 27 Employment Statistics .................................................. 28 Veritas Prep and Your Columbia Application ...................... 29
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Columbia is one of the worlds elite business schools, notable for its access to impressive speakers and career opportunities due to its prime location in New York City, as well as its long tradition of excellence in finance. Columbia has increased its global perspective in recent years, featuring a growing population of international students as well as numerous connections to foreign programs. Columbia Business School emphasizes big picture frameworks that go beyond mere technical expertise. The MBA program is designed to instill both the knowledge and skills necessary to succeed in the fast-moving, competitive world of business. Columbia Business Schools financeheavy reputation is earned by a rich legacy, particularly their early 20th century history and the development of Value Investing by Benjamin Graham and David Dodd in the 1920s. Notable alumni who have proven the worth of a Columbia Business School education include Mario Gabelli (Gabelli Funds), Henry Kravis (Kohlberg Kravis Roberts), Lionel Pincus (Warburg Pincus), and Jerry Speyer (Tishman Speyer) - and of course Warren Buffett, among many others. That said, for quite some time, the school has spent considerable effort on broadening its base of recognized excellence beyond the realm of finance, and these efforts have only accelerated under current Dean Glenn Hubbard. Dean Hubbard is a prominent economist; As chairman of President Bushs Council of Economic Advisors, he was one of the architects of the Bush tax cuts for the wealthy. He also served in the Treasury during the Clinton years., Hubbard has been affiliated with Columbia since 1988 and took over as Dean of the business school in 2004. He has taken steps to correct what earlier generations of students might have called under-management of the schools brand, and has put his stamp on the institution. Dean Hubbard is also a public persona. In 2010, his book Seeds of Destruction offered a fairly damning treatise on governmental policy that is full of doom and gloom for this countrys future - and some specific ideas on how to fix it. Hubbard was also the subject of a fairly damning portrayal himself in the movie Inside Job, about the causes of the economic crisis. His less-than-flattering interview and allegations that he and other Columbia professors have not been transparent in disclosing corporate sponsorship for research have prompted changes in corresponding policies at the school. Hubbards efforts across a range of fronts at Columbia have directly helped to expand the schools reputation . He has instituted changes to the curriculum, tended to the student experience, and has worked hard to extend the reach of the schools bond with its alumni. Its not an exaggeration to say that since he took over leadership, the school has overcome the limiting perception of an exclusive focus on finance and is recognized as a place for entrepreneurship, international business, and media, among other specializations. The Deans formulation of the schools positioning is eloquent in its simplicity: His aim is to ensure that Columbia Business School surpasses every other in its ability to bridge relevant academic research with real world business practice. Candidates interested in Columbia Business School can take a cue from the schools logo in understanding its orientation: the distinctive symbol that looks somewhat like the number 4 comes from the fleet-footed Greek Messenger of the Gods, Hermes (pronounced HER-mes; yes, you pronounce the s), who is responsible for business and commerce. Hermes is the name of the alumni magazine, and The Hermes Society is the group of student ambassadors who volunteer to host receptions and help with recruiting, outreach, and networking to interested candidates (Veritas Prep is always thrilled to see the names of so many of our former clients in this list of committed and enthusiastic Columbia students!). Columbia benefits from a dynamic community as well. The caliber of student at Columbia Business School is always beyond impressive. Recent entering classes have included published authors, former hedge fund managers, an American Idol finalist, former White House staffer, an Olympic gold medalist, a climber of Mount Everest, and several members of the Peace Corps. And Columbia faculty are frequently quoted in mainstream publications, including the New York Times, NPR, Slate, Financial Times, and BusinessWeek.
With a high yield typically over 70%, most candidates accept an offer to go to this powerhouse institution. The acceptance rate at Columbia rivals that at Wharton and Harvard, at just 15% year after year.
New York City is [Columbia Business Schools] living laboratory for business research and the implementation of ideas.
Dean Glenn Hubbard
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The school is a leading source of ideas, and its a leading source of talent...Its really unrivaled... The vision that we have is by better connecting Columbia Business School with Manhattanville, were not only going to enhance the education of our students, but we certainly are going to enhance and strengthen the community.
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COLUMBIA BUSINESS SCHOOL Areas of Study. Columbia does not have formal majors or concentrations. Instead, students design their own course of study by choosing from electives under the following Areas of Focus: Accounting Decision, Risk & Operations Entrepreneurship Finance & Economics Healthcare & Pharmaceutical Management Management/Leadership Marketing Media Private Equity Real Estate Social Enterprise Value Investing Some of these are further divided into subspecialties (e.g., specializations in Investment Management and Corporate Finance fall under Finance). When completing your application to Columbia Business School, you will be asked to select from among these Areas of Focus, to indicate to the admissions committee what you are interested in studying during your MBA coursework (your selections on your application are not binding).
See the Admissions section below for important considerations to keep in mind with a J-Term application. Note that fellowships are not available to J-Term students. And, these students may find themselves at a disadvantage if applying to the highly competitive second-year Value Investing Program, because applications are due in May when their first semester is just ending (students starting in September will be finishing their second semester and will also be able to present their upcoming summer internship as part of their application package to the program).
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Executive MBAs. Columbia has a variety of programs available for those with more experience, including their New York-based EMBA, and several offered in partnership with other top business schools around the world. There is often some confusion between these different programs, yet each is quite unique in terms of structure and content. The Columbia admissions office has consolidated all application processes and standardized admissions across the Columbia EMBA and the regular full-time day MBA. Columbia EMBA in New York - most closely resembles the full-time Columbia MBA program among the EMBA choices. Two flavors of the Columbia EMBA are offered: Saturday-Only EMBA, a new 24-month option with (as the name suggests) classes held on Saturdays, with one full-week residency in the second year. Requires no employer sponsorship, financial or otherwise. Just one start date of May is available. EMBA Friday-Saturday, the existing format and the shorter option, allowing students to finish in just 20 months. Matriculations are available in January and in September. Employer sponsorship of time is required due to the numerous weekday on-site residencies.
EMBA-Global with London Business School, with more of a US-European focus as you might expect, or EMBA-Global Asia offered with a third partner, the University of Hong Kong. The Berkeley-Columbia Executive MBA, which is more closely managed out of the Haas School of Business in California.
Each of these EMBA options has slightly different requirements in terms of essay questions, deadlines, and internal application review procedures, though the competitiveness among all of them is roughly the same, and all are slightly less competitive than admissions to the full-time Columbia MBA. A key advantage to the joint programs is that because graduates fulfill the requirements of the separate schools, they earn degrees from each and are therefore alumni of each as well, gaining access to the resources and privileges (and alumni networks) of multiple top programs simultaneously. This Annual Report covers strategies and insights geared towards the two full-time programs (the J-Term and the standard September start). However, because essay questions are identical for the full-time programs and the two Columbia EMBA in New York options, candidates may benefit from studying the recommendations offered on essay questions below (deadlines and admissions policies are different though).
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The vibrant community [is] one fosters that a lifetime of learning and invaluable relationships.
Dean Hubbard
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[H]aving sound principles takes you through everything, and the bedrock principles that really I learned from Graham and Dodd, havent had to do anything with them.These different options are laid out fully on the left.
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Admissions at Columbia
Application Options: Early Decision and the J-Term
In nearly all respects, Columbia does admissions differently. They dont have fixed rounds the way most other top American schools do, and they have a binding Early Decision option which can be confusing. This combined with the J-Term program means that some explanation is necessary in order to help applicants understand which is the right MBA track - and when is the right time to apply. J-Term. While the J-Term is truly a different program not a different admissions process, it does merit some discussion here: First of all, there is just one deadline for the J-Term: in early October (coincides with many schools Round 1 deadlines). There is no Early Decision option for the J-Term. The waitlist for the J-Term does not roll over to the August class. If you are placed on the waitlist for the J-Term, the latest date you can expect to get a final answer is usually mid-December (perhaps earlier if youre not a local candidate). If you are declined a spot in the J-Term, you can apply in the August Regular Decision cycle during the same admissions season, however youll need to significantly improve your profile and fix the weaknesses that the caused the original decision, or youll likely see the same results. Veritas Prep recommends waiting to the following application season before you re-apply (and at that point you could apply to either the J-Term or the September start, in both cases youre considered a reapplicant). The J-Term is less competitive in that the school gets fewer applications, which means its easier for an exceptional candidate to stand out, but there are also fewer spots available (usually around 180).
Rolling Admissions
Columbias admissions process is rolling which means three things: 1. Applications are evaluated in the order received, so there is a significant advantage to applying early There is no schedule for issuing interview invitations or final decisions; application decisions are released when they are rendered, which can be at any point in the process Columbia uses the waitlist a little differently than other schools, often as a holding stage while they evaluate additional candidates
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Because Columbia does not have rounds the way its peers do, sometimes people are tempted to call the Early Decision cycle Round 1 and the Regular Decision cycle Round 2 - but this is a misunderstanding of both the process and the implications of applying in one versus the other. These different options are laid out fully on the left..
The Columbia Admissions Office processes applications in this order - and always, applications within a category are processed in the order received, so first-come, first-served: 1. J-Term applications are prioritized because the admissions office needs to construct that class fast, since theyll be headed to campus in December in order to begin their studies just a few months later, in January. All decisions for J-Term applicants are generally finalized by December. Early Decision applications are processed somewhat in parallel with the J-Term pool. Regular Decision applications are not processed until the J-Term and the ED applications have all been cleared. The soonest the Regular Decision is opened tends to be in the December timeframe.
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Early Decision
Early Decision is a binding opportunity at Columbia. This means that if you submit an ED application to Columbia, and they accept it, you are committing in advance to say yes to them. You promise to decline any other schools offer that might come around later - even if it was from, say, Harvard. So, it may require some thought before going down this route. Accordingly, Columbias ED process is different than any other schools Round 1, and its even different from many Early Action rounds such as the one offered at Tuck, which is non-binding (though Tuck does require a deposit to be submitted quite soon after notice of acceptance if you want them to hold your spot). Because of this binding element, the Early Decision option at Columbia is ideal for candidates who have completed their research and decided that Columbia is the school for them. Early Decision applications are reviewed before Regular Decision applications, and this process tends to serve as a nice win-win for both the school and the (well qualified) applicant: It makes the yield management process easier for Columbia, and gives the applicant the comfort of knowing that he or she will attend Columbia early in the process. Early Decision candidates who are offered admission have just two weeks from acceptance to submit their nonrefundable $6,000 first deposit. If such a level of commitment is problematic, the applicant is urged to pursue admission through the Regular Decision process. Though the occasional opportunist does, in fact, renege on this offer, the admissions offices attitude is summed up by: Well let some other institution handle someone who so casually breaks their word and pledge. Candidates might consider an Early Decision application to Columbia as part of a strategy of Round 1 applications to other schools, however it doesnt make sense (nor does it strike us as ethical) to submit to multiple early-action rounds. Each year, Columbia generally is the first American business school to open its application and thus unofficially kicks off the admissions season, with the admissions committee starting to evaluate Early Decision and J-Term candidates in the late Spring. The ED round ends in early October. Early Decision is only available for the September start (not the January term). In years past, Columbia offered a commitment to return decisions for ED candidates within 8 weeks. That commitment is no longer made to candidates (a change coinciding with the arrival of the new admissions director), however ED applications are always processed before Regular Decision candidates. There are also no rules about how many ED candidates the school will accept. It might vary from a third to almost half of the September class (so from perhaps to 180 to 270 candidates). Columbia does not break down the statistics of incoming applications based on ED versus Regular Decision versus J-Term. Each year, Columbia generally is the first American business school to open its application and thus unofficially kicks off the admissions season, with the admissions committee starting to evaluate Early Decision and J Term candidates in the late Spring. The ED round ends in early October. Early Decision is only available for the August start (not the January term). ED applications are always processed before Regular Decision candidates. There are no rules about how many ED candidates the school will accept. It might vary from a third to almost half of the August-entry class (so, from perhaps to 180 to 270 candidates). Columbia also does not release statistics of incoming applications based on ED versus Regular Decision versus J-Term.
As an Early Decision candidate to Columbia Business School, I am committed to attending Columbia Business School and will withdraw all applications and decline all offers from other schools upon admission to Columbia Business School.
Statement of Commitment required of Early Decision applicants.
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Regular Decision
The most confusing part of the Columbia Regular Decision admissions process is the fact that it appears that theres only one deadline, and its in April. This is misleading for two reasons: 1. Because of the rolling admissions process described above, applications are evaluated in the order received, which means there are fewer and fewer slots available as time goes by. An application received in March or April simply doesnt have the same odds of success as one that is submitted in October or November. Merit fellowships are only available to those who submit by an early January deadline, so for many candidates, this January date is the real deadline they care about, and thats when the bulk of applications are received.
Deadlines
Because of the unique nature of Columbias rolling admissions, and the important considerations that come into play with the J-Term and the Early Decision rounds, you should review the preceding section for insights into the potential advantages available to you. In all cases, Veritas Prep strongly recommends you to APPLY EARLY to Columbia Business School. The dates below are offered only because they are the absolute final cutoff day beyond which applications are not accepted; an application received by the school on a deadline is actually at a significant disadvantage than if it were submitted earlier. January 2012 Start (J-Term Class of 2013): One Deadline Only Application Opened: May 2011 Application Reviews Begin: May 2011 Final Application Deadline: October 5, 2011 August 2012 Start (Class of 2014): Early Decision Application Open: May 2011 Application Reviews Begin: May 2011 Final Application Deadline: October 5, 2011 August 2012 Start (Class of 2014): Regular Decision Application Open: May 2011 Application Reviews Begin: December 2011 Deadline for fellowship consideration: January 4, 2012 Final Application Deadline: April 11, 2012
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Regardless of what the official deadline is, international candidates should get their application in as early as possible, to make sure they have enough time to secure required visas. Columbia does admit the bulk of their August-start students through the Regular Decision process, and its when most people apply. Do not be lulled by that April deadline into thinking that you can delay your application to Columbia. For most candidates, it would make sense to make Columbia your first application, not your last.
All deadlines are 11:59 PM Eastern time on the dates specified above.
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Its clear that Columbia is trying to tap into the less is more ethos that is popular these days. Think of this as the positioning statement that sums up your career goals in one sentence. Do you want to be known as the applicant who wants to run a sports team, or perhaps the applicant who wants to launch a renewable energy startup? Columbia provides some examples on its site, but while this is helpful, we also wonder if next year well hear admissions officers lamenting that applicants didnt get creative enough and hewed too closely to the examples given. No need to take too many risks or get too gimmicky here, but remember that your career goals are an important aspect of your candidacy that you want the admissions committee to remember about you.
We would like to see you perform well on the GMAT. If you have a lower GMAT, you want to make sure that every other part of your application is as strong as possible.
Columbia Admissions Office
Considering your post-MBA and long term professional goals, why are you pursuing an MBA at this point in your career? Additionally, why is Columbia Business School a good fit for you?
This question essentially carries over from last year, although its been rephrased somewhat, and now includes the at this point in your career part. Also, while last years question asked, How will Columbia Business School help you achieve these goals? this one places more emphasis on your fit with the school. Despite the changes, wed still categorize it as the typical Why an MBA? Why this school? question that many top MBA programs ask. As we said last year, many applicants fail to adequately to explain why Columbia is the best place for them to earn their MBA, given the schools culture, academic strengths, ties to certain industries, etc. Yes, Columbia has a big name and proximity to Wall Street. Those strengths are obvious. What else does Columbia offer that you cant find anywhere else? This is what the school is looking for when it asks about fit.
The rsum gives me a picture of the applicant. I use it as an introduction before reading the rest of the application.
Assistant Dean of Admissions Mary Miller
Describe a life experience that has shaped you. The goal of this essay is to get a sense of who you are, rather than what you have achieved professionally.
This question is new this year, although the second sentence (about wanting to get a sense of who you are) carries over directly from last years Essay #2. We like the more direct nature of this years question, which asks for a specific life experience, rather than simply asking about your personal interests, which last years essay did. As we always say, when a school changes an essay prompt from one year to the next, that usually means that the admissions committee wasnt getting what it wanted. Our bet is that last years responses were bland and werent revealing enough, so Columbia narrowed it down this year in an attempt to get to know you even better. Dont be afraid to reveal something that seems a little more personal than what you thought you would share going into this process. They clearly want to see how you have grown and evolved in your relatively young life.
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For the third essay, please choose one of the following three options: (250 words maximum) Option A. The annual A. Lorne Weil Outrageous Business Plan Competition is a student initiative managed and run by the Columbia Entrepreneurs Organization (CEO). The competition encourages Columbia MBA students to explore creative, entrepreneurial ideas that are sufficiently ambitious in scope and scale to be considered outrageous. Students explore these ideas while learning firsthand what goes into the development and presentation of a solid business proposal. Develop your own outrageous business idea. In essay form, compose your elevator pitch. All of these optional essays are new this year. For this one, Columbia wants to see several things. First, the school needs to know that youve done your homework and understand how much emphasis the school places on entrepreneurship. (Dont care to become an entrepreneur? Thats okay. Remember that you dont have to choose this topic to write about.) Columbia also wants to see - if you claim to want to be an entrepreneur - some real passion come through in this essay. Your idea shouldnt be a random one, but rather something thats rooted in one of your interests, whether its as big-minded as solving world hunger or as prosaic as fantasy football. Finally, Columbia wants to see if you can dream big. You dont need to submit an entry that would win the competition here, but you do need to show that youre the type of big dreamer the school looks for. Option B. Columbia deeply values its vibrant student community, the building of which begins at orientation when admitted students are assigned to clusters of 65 to 70 fellow students who take most of the first-year core classes together. During the first weeks of school, each cluster selects a cluster chair. Further strengthening the student community are the more than 100 active student organizations at Columbia Business School, ranging from cultural to professional to community serviceoriented. Leadership positions within clusters and clubs offer hands-on management and networking opportunities for students as they interact with fellow students, administrators, faculty members, alumni, and practitioners. You are running for either cluster chair or a club leadership position of your choosing. Compose your campaign speech. If we were to boil this essay down to one word, its fit. The admissions committee wants to know if they can envision you as someone who will plug into the student culture, get involved, and make things happen. Do you plan on just sitting in class and being a wallflower, retreating to your New York City apartment after class is over? Then this essay isnt for you, and Columbia wants to send a message that the school may not be for you, either. This is a great chance to demonstrate your knowledge of the school and to show off your enthusiasm for everything Columbia has to offer. If youre having a hard time choosing which of these optional essays to choose, wed recommend this one. Fit and getting involved are two themes that always help your case. Finally, dont be afraid to have a little fun with this one. In real life, these speeches are often at least a bit light-hearted (imagine inside jokes about bad cafeteria food, and so on), so this essay can be, too!
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Option C. Founded nearly three decades ago, the Executives in Residence Program at Columbia Business School integrates senior executives into the life of the School. Current executives in residence include more than a dozen experts in areas ranging from media and investment banking to private equity and management. A hallmark of the program is one-on-one counseling sessions in which executives advise students about their prospective career choices. Select one of the current executives in residence with whom you would like to meet during your time at Columbia. Explain your selection and tell us how you would best utilize your half hour one-on-one session. Columbias Executives in Residence Program is one of the schools true strengths and points of difference vs. other top MBA programs, and we like it a lot. However, unless you see someone on the list of executives who really appeals to you, we recommend that you not try to make this essay work. We just envision too many applicants trying to force a story here when they simply dont have one that comes naturally. If you do see someone on the list who sparks your interest, though, this is a good chance to help the Columbia admissions team better understand how youre thinking about your future career goals. For example, does one of the executives in residence have five children? (This info is not hard to find. Researching these executives beyond Columbias web site is fair game!) If family is important to you, then describing a meaningful half-four conversation with the executive about work/life balance could make for a terrific essay here.
Columbia Women in Business is the largest club on campus. Columbia Admissions Office
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Admissions Criteria
Columbia Business School looks for intellectually driven people from diverse educational, economic, social, cultural, and geographic backgrounds. Their admissions process favors candidates with a history of high academic achievement; those with serious blemishes on their undergraduate record tend to have more difficulty securing an offer from Columbia. Columbia students share a record of achievement, demonstration of strong leadership skills, and the ability to work in teams. Superior communication and writing skills are assumed and essential, and the environment favors those who are proficient in a language beyond English. The Columbia admissions process evaluates three dimensions equally: 1. 2. 3. Academic strength, measured by the GMAT and undergraduate/graduate transcripts, as well as any professional certifications like the CFA; Personal characteristics, which need to be demonstrated throughout the essays and recommendations but most critically coming through on the new Essay 2; and Professional promise, which is measured more acutely at Columbia than most any other top program. This is their assessment of whether your career goals are valid, feasible, and achievable.
Columbia also maintains a preference for candidates with at least some work experience. While we have seen them admit superlative candidates straight out of college, this is quite rare; 99% of the last few entering classes had at least one year of work experience. Veritas Prep recommends two or more years of work experience ideally for Columbia Business School applicants. Interestingly enough, Interviews are not 100% required at Columbia, however they do interview most candidates before extending an offer. The exceptions to this mostly come into play for a reapplicant who was interviewed during his or her initial application process. Columbia tends to interview all applicants to its EMBA programs, especially EMBA-NY since those candidates tend to be local to the tri-state area and can more easily come onto campus and meet with the admissions team. Columbia is also quite strict on its no deferrals policy; if youre admitted to Columbia, and you accept, you better plan on going for the term you applied, or youll be a reapplicant like everyone else when youre ready to try again.
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Student Organizations
Columbia boasts over 100 student organizations, covering the gamut of personal and professional interests, and the Office of MBA Student Life is dedicated to supporting this array of options. Each of the major disciplines at the school has a club that is meant to help extend the educational experience beyond the classroom. Furthermore, the Career Management Office has resources that the clubs can rely upon. The result is a wide array of outlets (to say nothing of lots of leadership roles to put on a resume) that students can use to extend their knowledge and influence in areas either of direct professional relevance or merely the personally interesting. Some of the most prominent Columbia clubs are: Columbia Women in Business Private Equity and Venture Capital Club Investment Banking Club Sales and Trading Club Microbrew Society Wine Club Rugby Football Club Hermes Society (student ambassadors) Energy Club Healthcare industry Association International Development Club Marketing Association of Columbia Management Consulting Association Media Management Association Real Estate Association Social Enterprise Club Cluster Q, CBSs LGBT group
Student Statistics
(Classes entering in 2010)
Because of the J-Term, Columbia reports data on an admissions cycle basis, rather than for a single graduating class. The last data available combines the two entering cohorts in 2010: the J-Term (part of the class of 2011) and the August-start (the majority of the class of 2012). Matriculating Students ................................739 (an increase of just 2 students) Percent Female .............................................. 35% (up 2%) Percent U.S. Minority ................................... 33% (up from 22%) Percent International ................................. 40% (up 2%)
The most organized of the clubs charge dues (some, in finance, north of $100 per year) and organize industry networking dinners and multi-day conferences. The resume books that are assembled of members resumes are an effective career launch tool for many. The schools location in New York City ensures that lively and diverse speakers are brought to campus, with sometimes 100 events in a single week.
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COLUMBIA BUSINESS SCHOOL The PSI includes an assessment center which helps students and alumni gain insight into their leadership styles, ability to detect others emotions, and work-style preferences in team contexts. Topics include: Leadership: Personality Patterns Leadership Styles Inventory Spot the Fake Smile Cognitive Style Culture in the Workplace Empathy Assessment Perceived Decoding Ability
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In a Master Class, students are given access to real-life managers information and are asked to develop their own responses to the challenges faced - which are then compared to what the firms themselves developed in order to look for solutions, information gaps, or other fresh interpretations.
Grading
Columbia students are a talented lot, but graduate school grading can still come as a bit of shock to people with fond memories of being praised throughout college. Instead of using the A-F scale, Columbia uses the pass system, although there are different shades of passing: A non-binding curve has been adopted by the faculty, with a recommended outcome of 20 to 25% of the class receiving an H, 50 to 60% receiving an HP, and the balance getting the lower grades. H Honors (10 points) HP High Pass (7 points) P Pass (4 points) LP Low Pass (1 point) F Fail (0 points) IN Incomplete Students in the second, third and fourth terms will have Deans Honor List recorded on their transcripts if their point average is greater than 8.5.
Course Enrollment
Students use the Business Online Selection System (BOSS) to bid for courses. During bidding rounds, a student can bid, change the bid, or drop the bid - as many times as desired. Once the round closes, the final bids are processed, and the students point endowment is modified accordingly. The process is similar to that of many top business schools that use some form of bidding or point allocation to determine spots in the most popular courses.
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International Business
International Business is a formal study area at Columbia, and this sample of recent course offerings hints both at the breadth of scholarship and practical focus: International Banking: Value & Risk International Financial Management Emerging Media Investing in China Global Real Estate Investment Global Marketing The International Media Business Growth & Sustainability in Brazil Entrepreneurship in Africa Master Class
International Programs
Since its founding, over 2,500 Columbia MBA candidates have taken advantage of funding provided by the Chazen Institute to study foreign languages (Arabic, Business English, Chinese, French, German, Hindi, Japanese, Portuguese, and Spanish) with a distinct emphasis on applied business contexts. The program offers two hours of intensive immersion in classes with no more than nine students each. The Chazen Institute offers Columbia students the chance to spend their third semester at a partner school abroad, and to receive full credit for that study towards the Columbia MBA. Partner schools are located in Argentina, Australia, Austria, Brazil, China, Finland, France, Germany, India, Israel, Italy, Japan, the Netherlands, Philippines, Singapore, South Africa, Spain, Sweden, Switzerland, the UK - and even Berkeley, California. Chazen Institute study trips abroad are also popular. During these 7-10 day trips, groups of 20 to 40 students and a sponsoring faculty member meet with business leaders, government officials, and alumni while visiting businesses, factories and cultural offerings in the foreign destination. Trips often have a specific theme as well. Destinations over the past few years include: Bulgaria/Romania, China, Dubai/Doha, Japan, Mexico (Real Estate), South Korea, India (Social Enterprise), Italy, Southeast Asia, Egypt/Israel, Argentina (Social Enterprise), and South Africa (Real Estate). Second-year students can take their interests and run further with them (to say nothing of laying the groundwork for developing a formal reputation in regional specialization) by applying to become Chazen Society Fellows, who undertake research and publish their findings in the Chazen Web Journal of International Business. Recent student articles include: Cross-Cultural Perspectives on Ethics Lessons from the Japanese Bubble for the US Green Revolution/ Mobilizing Africas Agricultural Resources Navigating the Wind and Solar Markets: International Perspectives on Industry Economics, Financing and Policy The Impact of the Financial Crisis on China Branding in China: The Challenge of Selling Starbucks Coffee in a Tea-Drinking Nation and Other Lessons
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In addition to being the leading authority on value investing - or, as the New York Times put it, the guru to the Wall Street gurus Professor Greenwald is an expert on productivity and information economics.
Having started several successful companies himself, Professor Low now devotes himself to studying the context in which entrepreneurship occurs.
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Gita Johar Meyer Feldberg Professor of Business, Vice Dean for Research, Cross-Disciplinary Areas Professor Johar proves that not all beloved Columbia professors teach finance. She teaches courses on consumer psychology and cognition, and how these can be factored into marketing, branding, and advertising activities. Her seminars can entail highly specific field trips, such as a trek to the Calvin Klein store on Madison Avenue to look for subtle design clues and consistencies that enable Calvin Klein to charge 10 to 20 times the price of a utilitarian garment. Recent course titles include Advertising and Branding, Global Marketing Consulting for Social Enterprise, Research Methods, and Consumer Behavior, and her youthful, low-key style is a large factor in her increasing popularity on campus. Professor Johar was named Vice Dean for Research and is in charge of Columbias new Cross-Disciplinary Areas. Laurie Simon Hodrick A. Barton Hepburn Professor of Economics and Founding Director, Program for Financial Studies Professor Simon Hodrick has a distinguished career bridging theory and practice. Selected as One of Forty Under Forty by Crains Chicago (while she was a professor at Kellogg), Columbia lured her to New York both for her many prestigious fellowships and for her approachable, if demanding, teaching style. She has been awarded the Columbia University Presidents Medal for outstanding teaching, and students rave that what they learned about corporate finance and the market for corporate control from her has proved valuable over the course of their careers. Professor Hodrick is launching the new Program for Financial Studies.
Every top-tier business school has its list of star faculty whom the students adore. The Columbia faculty is populated with many prominent business leaders, researchers, and teachers. Among Columbia students, there are a handful of professors who are considered a must to have for a class, due to their reputation both as educators and as experts. This list isnt merely a collection of famous names, but rather the instructors that Columbia students deem to be essential for the full experience.
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COLUMBIA BUSINESS SCHOOL The numbers below reflect the two 2010 intakes: the 2010 J-Term (part of the Class of 2011) and the 2010 August start (Class of 2012) - Columbia reports these cohorts together:
Visiting Columbia
One of the best ways for candidates to truly understand if Columbia is a proper fit is to visit the campus and get a feel for the academic environment, student life, and overall campus culture. Additionally, visiting the school offers the opportunity for face-to-face contact with current students, professors, and admission representatives. To these ends, the Admissions Office has set up an array of options to meet applicants varying needs. Information Sessions. Information sessions provide prospective students the opportunity to learn more about Columbia Business Schools competitive strengths and the application process, as well as to ask questions of admissions officers and current students. No advance registration is required, and many applicants often combine attending one of these sessions with meeting a student for a conversation over a meal or coffee and/or a class visit. Class Visits. Class visits are an excellent way to see Columbias curriculum in action, and the admissions team encourages that candidates take advantage of the opportunity. Applicants can use an online registration system to attend a specific class in a subject that interests them, and are encouraged to sign up early, as capacity for the specific class option is fixed. The Admissions Office also operates a host program - for those with the time to spend - that allows the applicant to trail a student for a good portion of the day. This is an excellent opportunity to learn more about the culture and to get a personalized perspective on the school. (Note that candidates who are considered local to the school are almost expected to visit campus and sit in on a class; to live in the tri-state area and not make the effort to get to Uris Hall could be seen as somewhat of a blemish on an application.) External Sessions. Of course, the Admissions office recognizes that not all applicants can visit campus easily. Each fall, admissions officers team up with Columbia alumni around the world for Columbia on the Road sessions in which application mechanics and - more importantly - the Columbia program and culture are conveyed as convincingly as possible. The tour typically reaches 70 cities, including destinations in both the Middle East and Africa, which helps to reinforce the schools global scale. Like its peer Chicago Booth who is also trying to reinforce the message that its more than a finance school, Columbia admissions is emphasizing the schools different Areas of Focus through topical panels on campus, including sessions on Marketing, General Management, Media, and Social Enterprise.
Admitted ......................................1,023
(5 fewer than last year), or 15%
Middle 80% GMAT Range ....................... 680-760 Middle 80% GPA Range ......................... 3.1 to 3.8 Average Age .................................... 28 Overall Age Range ................22-37 Middle 80% Work Experience Range .....................................3-7 years At Least One Year of Work Experience ....................................99%
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Columbia and Social Media. Columbia seems not to be embracing social media quite as much as some of its peers (Wharton is possibly at the head of the pack among the top programs). Columbia does have a presence on the following sites which are mostly used by its PR department; Columbia admissions is noticeably absent from any social media or web-based outreach activities Facebook - http://www.facebook.com/columbiabusiness - primary activity is to tout faculty appearances in the media Twitter three accountshttp://twitter.com/Columbia_Biz - The general b-school account which announces research, professors quoted in the media, etc. http://twitter.com/columbiabiznews - Much the same tidbits as are posted on their Facebook page http://twitter.com/ColumbiaMBA - The admissions account; mostly announcements of info sessions and on-campus roundtable events YouTube - http://www.youtube.com/user/ColumbiaBusiness - An increasing effort from the Columbia admissions team lately, with short Q&A videos going up that may answer some applicant conundrums, plus a variety of segments from the Chazen Institute, the Lang Entrepreneurship Center, the Stanford Bernstein Center for Leadership, and the Social Enterprise Program. LinkedIn - http://www.linkedin.com/companies/2625 Columbias main MBA Website - http://www4.gsb.columbia.edu/mba/admissions not the best organized school website in the world. Be sure to study the FAQs and the Application Requirements pages. You can also ask a question of a student (a member of The Hermes Society). Public Offering - http://www4.gsb.columbia.edu/publicoffering - the Columbia Business School blog - with an entire section dedicated to warren Buffett and Bill Gates (however, the entire blog has been on hiatus for well over a year now). And of course the Veritas Prep Blog at http://www.veritasprep.com/blog is an active resource for Columbia-specific information and targeted business school admissions strategies, available for free and updated every weekday.
Contact Information
Office of MBA Admissions and Financial Aid
216 Uris Hall 3022 Broadway New York, NY 10027 Phone: (212) 854-5553 apply@gsb.columbia.edu
Columbia has a free portal set up for candidates called Inside MBA. By registering (http://gsbcolumbia.askadmissions.net/emtinterestpage.aspx?ip=accountcreation), you will receive email updates of news and events from Columbia admissions and gain access to an additional content area of the admissions site. You must create an InsideMBA account before you can create a separate account for the online application system.
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Career Management Library. The CMC maintains a physical library (9am-7pm) of over 900 volumes of job-search related books that students can use while on campus. The library also maintains industry job binders with relevant job postings, Wetfeet guides, and 40 periodicals. The Virtual Career resource Center is a portal for online tools that assist both current students and mid-career professionals. The On-Campus Recruiting Process. On-campus interviews begin in in late October, starting with financial firms, and usually two days later, all other firms. Recruiting corporations submit applications to Columbias COIN system in September and CMC works with recruiting companies to ensure that students schedules are not over-booked. CMC will also go to bat for students to ensure that students do not miss academic commitments for an off-campus interview, and maintains strict blackout periods that coincide with school holidays and exam periods.
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Major Employers
(Class of 2010)
Major companies across the globe recruit Columbia graduates, and many of the employers that come to campus are a similar bunch to those that recruit at other top schools. The following are among the most common employers for graduates from recent classes. McKinsey & Company Boston Consulting Group Booz & Co. JPMorgan Chase & Co. Deloitte Consulting Citi
Function
Other 19% Manufacturing 3% Media 4% Real Estate 4% Healthcare 5% NonProt 7% Technology 7% Consulting 8%
Credit Suisse Group Deutsche Bank AG Bain & Company Barclays Bank of America/Merrill Lynch UBS Goldman Sachs Group American Express Unilever Morgan Stanley
Industry
Retail 1% Media/ Technology 8% Manufacturing 12% Real Estate 6% Government/NonProt 2% Other 3%
Salaries
Median figures for Columbia graduates have been stable for many years now: Base salary: $100,000 Signing Bonus: $20,000 - $25,000 Other guaranteed compensation: around $25,000
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Our Team
Our team of Columbia consultants includes former admission representatives, alumni interviewers, members of influential student groups, and, of course, accomplished professionals in a variety of fields. Our Columbia consultants have career experience in a variety of industries and functions. With multiple Columbia consultants on our admission consulting team, we are able to provide customized service to clients based on background, timing, and logistics. Each client who works with Veritas Prep on a Columbia comprehensive package will receive a customized team of consultants: a Head Consultant and a Columbia Specialist. Head Consultant. All of our Head Consultants have experiences in admissions that affords them a unique perspective on the applicant pool and how candidates must position themselves to express proper fit, and to stand out in an increasingly competitive process. Your Head Consultant guides you through every step of the process: from the initial Diagnostic Session to submission of the application, and the admissions interview. Columbia Specialist. Every ccomprehensive package client will also receive input from a Columbia Specialist who is either a Columbia student or recent graduate. Specialists provide insider information about the program they attended to ensure that you demonstrate school fit. In addition, they offer valuable insights about how to stand out from your competition. If you select a Columbia school package or choose to work with a specialist on an hourly basis, our team will ensure that your application components are perfectly tailored to Columbia. For more on Veritas Preps incredible team and the individuals who serve as our Columbia consultants, please visit the Consultant Profiles page of our website.
Veritas Prep was an amazing help throughout my entire application process. My Head Consultant not only assisted me with my overall story, but worked tirelessly with me to refine my essays and coordinate with school specialists. She was extremely responsive over email and phone, and kept us both on track so that I was able to complete 5 applications without too much stress. Thanks to her guidance, I was accepted to 4 of my top 5 schools: UCLA Anderson, NYU Stern, Kellogg, and Columbia Business School. I am so excited to have been admitted to my dream schools. Veritas Prep Admissions Consulting was a key component to realizing my education aspirations, and I have nothing but great things to say about my experience - I am so grateful!
Jennifer Chiang
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Your Head Consultant will create a Personalized MBA Game Plan, a strategic approach based on your professional, academic, and personal history.
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