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MASTER OF BUSINESS ADMINISTRATION

The Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, marketing, human resources, operations management, etc. Students in the MBA program have the option to select an area of concentration and focus approximately one-third of their studies in this area.

Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education, and business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations.

Accreditation:

Business schools or MBA programs may be accredited by external bodies which provide students and employers with an independent view of their quality, and indicate that the school's educational curriculum meets specific quality standards. The three major accrediting bodies in the United States are Association to Advance Collegiate Schools of Business (AACSB), which accredits research universities, the Association of Collegiate Business Schools and ProgramsInternational Assembly for Collegiate Business Education (IACBE),^[4] all of which also accredit schools outside the US. The AACSB and the ACBSP are themselves accredited in the United States by the Council for Higher Education Accreditation (CHEA).^[5] MBA programs with specializations for students pursuing careers in healthcare management also eligible for accreditation by the Commission on the Accreditation of Healthcare Management Education (CAHME). (ACBSP), which accredits universities and colleges, and the

Basic types of MBA programs

Two-year MBA programs normally take place over two academic years (i.e. approximately 18 months of term time). For example in the Northern Hemisphere beginning in late August/September of year one and continuing until May of year two, with a three to four month summer break in between years one and two. Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students.

Accelerated MBA programs are a variation of the two year programs. They involve a higher course load with more intense class and examination schedules. They usually have less "down time" during the program and between semesters. For example, there is no three to four month summer break, and between semesters there might be seven to ten days off rather than three to five weeks vacation.

Part-time MBA programs normally hold classes on weekday evenings, after normal working hours, or on weekends. Part-time programs normally last three years or more. The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.

Executive MBA (EMBA) programs developed to meet the educational needs of managers and executives, allowing students to earn an MBA or another business-related graduate degree in two years or less while working full time. Participants come from every type and size of organization – profit, nonprofit, government — representing a variety of industries. EMBA students typically have a higher level of work experience, often 10 years or more, compared to other MBA students. In response to the increasing number of EMBA programs offered, The Executive MBA Council was formed in 1981 to advance executive education.

BREAKING NEWS ABOUT CAT

CAT 2009 will not be scrapped, says CAT committee
This year's computerised Common Admission Test (CAT), which was marred by technical glitches, will not be scrapped, the exam committee announced today.

The CAT committee, which comprised IIM Ahmedabad Director Prof Samir Baruah, IIM Bangalore Director Prof Pankaj Chandra and a few other professors, made this announcement after meeting with senior Human Resource Development Ministry officials here.

"IIMs have decided to continue with computer-based test for 2009. We also look forward to continue the CAT through computer-based testing in future," Baruah told reporters.

The computer-based test has drawn flak from many quarters as a few thousand students failed to appear in the test owing to the disruptions caused by virus attack and other technical glitches.

A fresh test would be held around mid-January for those genuine students who could not appear in the test, which is conducted by American firm Prometric.

IIMs will put in place a system to identify all the genuine students who failed to appear in the test during the testing period that continued from November 27 to December 8.

Asked whether the IIMs will review the contract with the American firm, Baruah said the focus of the IIMs is to complete the test in a fair manner. But the entire test will be reviewed to ensure that such problems do not occur in future.

Prof Chadra said minor verification will be conducted to identify and ascertain the genuine students who have failed to take the test.

Nearly 2.4 lakh students had registered for the test for admission into IIMs and a few other B-schools. However, 2.16 lakh students have completed the test so far, CAT convenor Prof Satish Deodhar said.

"It is indeed our regret that a number of candidates faced difficulties during this test window and the execution of the exam has not been flawless," he said.

About 24,000 students did not show up for the test at the first instance, he said. Another 2,000 candidates, who were rescheduled from the first testing window remain to be tested, he said.

There was divergent of views within the IIMs about whether to scrap the computer-based system for this year. Prometric presented detailed data to the IIM directors on Sunday, explaining the nature of problems faced by students.

"After analysing the fresh data, we could know the nature and extent of the problem. We are convinced the test has been done in a fair manner," Baruah said.

Based on data, feedback from students, site and audit reports, the CAT committee said the problems faced by the students include complaints of premature exit through the Exit/End button, slowness of computers while reviewing and refreshing questions, rebooting of computers and disruptions, missing graphics and data.

Bangalore's B-schools school online CAT

Bangalore: The common admission test (CAT) 2009 fiasco has made at least 150 business schools across India see red. Besides the seven Indian Institutes of Management (IIMs), the B-schools too utilise the CAT scores for admitting candidates to their institutions.

However, with the last four days seeing several thousand candidates not being able to take the first online CAT due to computer glitches and virus problems, the B-schools are now questioning the efficacy of this test conducted without a prior trial to ensure that everything went on smoothly.

On Wednesday, tests at two labs at the Garden City College were cancelled because of glitches. Many students were turned away.

Most B-schools pay a fee to the IIMs to utilise CAT scores for admissions. Per student, these institutes pay around Rs200-300.

The cancellations have made a few institutes want to revert back to the paper-pencil format for CAT. "I would suggest that the IIMs go back to the old paper-pencil system. At least till they are better prepared to conduct an online test, I don't see how hosting a test over 10 days is helpful to students. Like the GRE, they should host the test over a period of three months for the benefit of students," said Dr KN Balasubramanya Murthy, principal, PES Institute of Technology.

"Candidates who have to travel back and forth because of cancellations are under stress. This will affect their composure, which in turn will affect their performance," said S Sudeep Kumar, associate professor, chairman-admissions, TA Pai Management Institute.

Copy CAT: Widespread cheating reported in city

Mumbai: Touted as one of the toughest entrance tests in the country, the Common Admission Test (CAT) has lost its credibility, say aspirants to the Indian Institutes of Management (IIMs) who attempted the exam's first online avatar. Reason: widespread copying is being reported across the city.

"Throughout the two-and-half-hour long test, the lab was chaotic and full of noise. I saw several students purposely rebooting the system so as to gain a few extra minutes to solve questions. Invigilators were busy fixing problems of other candidates who were also grappling with their systems," says Amit Bushan, who attempted the test from Fr Conceiciao Rodrigues Agnel College of Engineering, Bandra.

Another candidate, who attempted the test from Saboo Siddik college of Engineering, Byculla, complained about people consulting with each other while solving problems in the quantitative section. "I saw a group of students talking and peeping into each other's computers. They were also discussing problems and solutions, but the invigilator failed to notice it," said the candidate on condition of anonymity.

"Problems reported by examinees range from noisy testing labs, candidates talking to one another with no interference from invigilators, chatting on mobile phones, etc. How can this be called a competitive exam, when there is no level playing field?" said Rohit Awasthi, spokesperson, PaGalGuy.com, a popular MBA resource website.

The website has asked students to write in with their problems which will then be mailed to the IIMs and Prometric, which is conducting the test. Further, questions are being repeated in different versions of the test. Consequently, communities are mushrooming on social networking sites, raising questions about the validity of the process.

"Questions are being leaked through various private channels. While we are moderating our website respecting the non-disclosure clause, several un-moderated social networks are sharing questions. Given that there are reports of questions being repeated, it obviously puts test-takers on each subsequent day at an advantage," said Apurv Pandit, editor, PaGalGuY.com.

Triumphant Institute of Management Education (TIME), an MBA training centre which accounts for over 1/3rd of CAT examinees, has written to the IIMs asking for cancellation of the online test. "The credibility of the online CAT is in doubt. Since there was no uniformity in exam and test centers, we request the authorities to conduct a pen and paper exam," said Arks Srinivas, director, TIME.

MBA in India vs. MBA abroad

MBA in India vs. MBA abroad

MARY IPE

Is it worth it to opt for a B-School abroad, considering the huge expenditure involved? A look at the pros and cons.

FOREIGN SETTING: At the S. P. Jain Center of Management, which has campuses abroad.

Management education in India is booming. There are over 1,250 approved business schools, 1,25,000 full-time and 1,00,000 distance MBA students and 1,30,000 MBA aspirants taking the Common Admission Test every year.

The end-users — the recruiters — seem to be facing a constant supply crunch, and are always on the lookout for the talent graduating from the top B-schools. Thus the MBA is a valuable commodity that insures a quick return on investment.

With the burgeoning of the Indian economy and the growth of India's middle-class, more Indians than ever before are able to afford brand name American degrees. While foreign applications to American B-schools have dropped with visa restrictions post-9/11, applications from Indian students are increasing.

Coupled with this is the fact that many of the foreign (Indian) MBAs plan to return to India after graduation - a complete reversal of the brain-drain in the 1970s and 80s.With increasingly larger number of aspirants looking at MBA abroad; what are the pros and cons of an MBA in India vs. MBA abroad? Is it worthwhile to get an MBA abroad? This decision depends on a number of factors and ultimately has to come from you. We present these factors before you, on making this vital decision.

Assess the cost

The cost is of course the bottomline. For the average Indian, a foreign MBA is very expensive; at the least an MBA degree abroad would cost you around Rs. 10 lakhs to 15 lakhs.

Normally an MBA from the top-tier schools in the U.S. will cost you around Rs. 25 lakhs to 35 lakhs. Given the exorbitant expenditure (assuming that you are not getting any scholarship, as getting aid for an MBA programme is difficult), is it worth it? Look at the resources at your disposal (your own bank account, your parents' or a benefactor's).

The funds available would throw up various options:

If you have half the funds required (Rs.10 lakhs to 15 lakhs), you can go ahead.

If you have one-fourth the funds required (Rs. 5 lakhs to 6 lakhs), you can manage the first few semesters. You will have to find ways to raise money while studying (an option many Indian students resort to).

If you are constrained on cash, but can manage a bank loan, you need to think hard.

Are you confident you would do well in the programme? Would you manage to get a job?

Prime MBA destinations are the U.S., the U.K., Canada, Australia and New Zealand. The chances of employment are better in the U.S. and Canada.

Getting a job in Australia and the U.K. is comparatively difficult. Even if you do spend Rs.15 lakhs doing an MBA abroad, you would be able to recover the money within a year of passing out, provided you have the grit and determination to do it.

At this juncture, we should not underestimate the value of our Indian MBA.

Indian MBAs have proved themselves in MNCs working as VP, directors, senior consultants, partners. Consider the purchasing power parity, initial expenditure (cost of the programme), initial placements, and growth in salary as inputs in your decision. The options before you should lead your choice.

If your choice is between the IIM and a top-tier global institute, choose the latter. The global institution would provide strong alumni network, worldwide placements, diverse class and global brand recognition.

The diversity of student body and networking is a definite plus in a foreign MBA. The students from a top-tier foreign school would have three to four years of work experience. They come from a variety of backgrounds such as finance, high-tech, marketing, even poetry, television and films.

A variety of students come from different countries - a British journalist, an American banker, an Arab entrepreneur and you an Indian IT professional working either as sales or software engineer. You would be able to develop a network across countries, which could hold you in good stead.

A typical Indian MBA class would have less than 10 per cent students with work experience from IT, manufacturing and sales jobs, with a large majority being freshers.

If your choice is between a mid-tier B-school abroad and an average Indian institute, you could choose to go abroad. Do not choose any foreign B-school that you get selected into.

Post-MBA

Finally, you need to decide what you plan to do after your MBA. Do you wish to take up your career abroad or in India? This is probably the most defining factor in your decision.

If you are planning to take up a job abroad, go for a foreign MBA. It helps to jumpstart a global career with easier possibilities of repayment of loan.

If you plan to return to India on completion, you need to think through.

Compared to foreign B-schools, Indian institutions offer a substantial cost advantage, making them more attractive if you are planning to build your career in India.

Are you sure you want to take on a liability of Rs. 25 lakhs or more a year for an overseas MBA? The MBA at an Indian institute would cost around Rs. 4.5 lakhs, not counting the lodging expense.

Funds tied up, B-schools rankings should determine the final decision: Is the value proposition of the foreign B-school better than that of the B-school you have chosen in India.

Take stock

Finally irrespective of which school you get into India or Abroad, you need to prove yourself once you join the workplace. You need to market and sell yourself, having the MBA behind you.

If you are selected to the top-tier 50 schools abroad, go for it. If you are selected for MBA in India in the top 15 schools, assess the pros and cons. It's a tough choice.

The author is Professor, HRM IBS-Kochi

MBA admission help

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How to win at the IIM and other MBA Group Discussion and Personal Interview

The Topic for this GD is : It is HIGH TIME to make the Rupee Convertible

3 minutes to think

3 minutes to speak

3 chances to make an impression

The MBA Group Discussion is a 3 minute Game

CONTENT IS EVERYTHING - CAN U SPEAK CONFIDENTLY USING ECONOMIC CONCEPTS - IF NOT .......

GET THE FREE EBOOK ON Learn How to Speak in the Group Discussion using Economic concepts

3 secrets on identifying GD/PI topics for the IIM admission

Some of you who have been preparing for the IIM
admission test for some time well in advance may
already have started to read economic news and
business magazines and may be more prepared than
just the average novice.

For such MBA candidates the level of preparation
should now be towards identifying likely IIM Group
Discussion topics. Here are 3 secrets for identifying
likely IIM GD/PI topics:

1) Employment: Which sectors of the economy are
adding most to employment and which are not. This
will immediately point you into the direction of
such hot sectors such as the retail trade sector and
BPO. Now you should identify major issues related
to these sectors

2) Resolved Disputes: How did a major argument
get resolved- IIM's love such topics as they present
good case studies. Identify how Mittal gained control
of Arcelor Steel, how Tata finally nailed Corus, what
prompted Jet airways to take over Sahara, what
changes did BCCI introduce after Team India's
dismal performance

3) Capital market changes- Business revolves
around money. What are the changes being
introduced that allows Corporate India to raise
money domestically and abroad, identify changes in
Indian bond markets, currency markets, stock
exchanges, commodities exchanges. Try to
determine how corporates are likely to benefit. For
example a better bond market allows more
Corporate Bond trading and encourages corporates
to raise money domestically, or proposed Rupee
exchange futures allows corporates to hedge their
import requirements.

As you can see; thinking contra may lead you to
preparing for the very IIM GD/PI topics which you may cleverly prepare very well in advance. Continue to keep an eye out for such topics and you may find the MBA GD/PI topics to be smooth sailing.

2 surefire preparation tips on Abstract GD/PI topics

One of the most toughest aspects of the IIM MBA
admission test is determining the kind of preparation
required for Abstract topics

The problem with abstract topics is that you can say
anything and nothing is wrong. So what exactly are
you supposed to say and be tested upon. If you try to
understand what the GD panel is trying to test you
on you can perform better at the Abstract GD topics

Here are some tips on preparing for an Abstract GD
topics such as "Deeper shades of Black"

1) Add structure: The reasons why IIM's favour
abstract topics is that business decisions do not
present themselves as clear cut problems with
identfiable methods of solution. So suppose you say
-"ladies and gentlemen when companies are in
profits the books are in the black, in that case then
the latest Q4 financial results of corporate India
display deeper shades of black- as the profits are up
47.36% as per the data in the newspaper Mint on 11
June 07"

2) Add clarity: You will be looked favourably upon
for adding clarity for the other participants. So you
could explain by saying "Ladies and Gentlemen - the
term Deeper shades of black seem to imply that the
issue is important as it has been marked distinctly
and boldly - thus making it a point for immediate
action. For example a quick glance of the daily news
papers show how Inflation is always boldy
mentioned across all newspaper headlines which
underlies the importance of it to the economy in
general.

3 methods to prepare for IIM GD/PI topics

Once you have cleared round one of the IIM
common admission test, it is time you began your
preparation for the IIM GD/PI

To begin your preparation use the following tips on
identifying likely IIM GD/PI topics that may be
asked

1) State of the Economy : Since you are the be a
Master of BUSINESS administration it is crucial
you have more than just working knowledge of
the economy. List 10 aspects of the economy such
as infrastructure, real estate, SEZ, retail, Agri
commodities, etc and identify the 5 most important
news items related to those 10 aspects to get started.

2) Major Disputes and Mergers: Keep a close eye out
for any major trade disputes and failed merger
attempts. These are always hot topics for the IIM
MBA Group Discussion. For example the merger of
Sahara Airlines with Jet airways or the dispute
between the developing nations against the g7
conutries at the WTO trade meetings. Learn the 3
most important aspects of these issues

3) Stock market and commodities market: Unless
you have been living under a rock you should know
that India right now is hot property. Know the
changes that are taking place in terms of improving
the stock market, the growth of commodity
exchanges in India and how introduction of hegde
funds and liberalising foreign exchange controls will
impact the markets.

While all this may seem like a whole lot work, start
by breaking down things into 10 aspects, then
choose 5 from each and furthr break down into 3
points that you memorise. You will notice that you
will learn a lot faster and retain better this way than
simply reading 10 newspapers daily.

How to use Economic news for IIM GD/PI topics

One of the crucial aspects of preparation for the IIM
GD/PI round of admission test is a good
understanding of the economy.

Now you only need to know whats happening in the
economy and dont have to be an expert at
economics which is a separate field of study itself,
unless you are a Commerce or Economics graduate.
The most burning issue facing non Commerce
candidates such as engineers and arts graduates is
understanding the basic information of the
economy. Here are some tips that may help.

1) Break down the economy: Prepare smart- thats
the key. First break down the economy into its
components. You can start by focussing on 15 topics
- Construction, Exports, Foreign Exchange,
Agriculture, etc...identify 3 topics from each 15 to get
started

2) Dont immediately read the Editorial section: Most
people choose to start by going into the heavy duty
editorial section. That is best for those who have
been following the issue for some time and already
have a good idea of the issue. Start with your 45
chosen topics and skim through the newspapers to
identify the 3 most lastest news related to that topics

3) Now you have 135 pieces of information on
specific areas of the economy. Now all you need to
do is prepare these 135 pieces of information and get
a group of 5 people to conduct mock GD and
Personal interviews. Ask your mom or dad to
supervise to make it serious and add that element of
pressure to perform well

3 reasons why GD/PI prep providers are useful

There are many MBA prep providers; from Career
Launcher, IMS, TIME, Ascent,PT Tutorials which
provide written CAT test exam preparation and CAT
GD/PI preparation.

Which exam prep provider is the best is subject to
your evaluation, however do you even need CAT
GD/PI preparation when all you need to do is read
newspapers and business magazines?

1) A mirror can't talk back: Preparing in front of a
mirror can be deceptive. At the Group Discussion the
participants may try to make your points look
stupid, they will interrupt even before you finish
your sentence, and they may speak so loudly that
you can hardly hear yourself.

2) A stranger makes you nervous: If all you did was
participate with freinds and family- then all you did
was giggle and laugh. When the real deal comes,
when engineers from IIT, toppers from St Stephens
sit down with blood in their eyes- you will wince.
Don't go with the notion that engineers are poor
communicators, you will be disappointed
thoroughly.

3) CAT GD/PI preparation providers give you a feel
of all the above 2 weeks in advance. Nothing works
better than real life testing, and actual competition
from competing strangers. Because you don't have
to be nice to them and can judge your mistakes
objectively you will be in a better position to
evaluate your likely performance at the actual IIM
Group Discussion and Personal Interview.

3 mistakes to avoid on IIM CAT GD/PI preparation

Most of you who have cleared the written test and
with GD/PI call letters in hand must have already
started preparation for the IIM GD/PI in advance.

While there is a lot of advice on what you should do,
here are a list of things that you should not do when
preparing for the MBA Group Discussion and
Personal Interview.

1) Not timing yourself: Many candidates overlook
this singular most important aspect. Its not just
about a time limit to the overall Group Discussion
but timing your repsonses to keep it curt and
relevant. It is a fact that the average retention of the
human mind is 2 minutes of what you said. Same
applies to the GD panel

2) Manage your accent: Due to the diversity of the
India and its regional languages, English is spoken
with a regional touch. Be careful to get your
phonetics correct and vowels easy to understand.
Ask 5 people who don't like you to know how you
really sound. Try and improve your best by listening
to TV News broadcasters and emulate their accent
and mannerism's of speaking. Remember
embarrasment here is better than rejection at the
IIM's

3) Watch the body language: Hands to yourself. Do
not make the mistake of touching a candidate in an
attempt to quieten him/her. You will get automatic
negative points. It is OK to emphasize points with
your hand but never to touch a candidate. Always
watch how you use your body to talk in front of a
mirror to know whether you appear composed or a
juggling clown.

How to define your goals for the IIM Personal Interview

Having an idea of your goals that you want to
achieve in life is the starting point of all Interview
questions. It forms the basis for all other questions
that will be asked in the IIM Personal Interview.

For those of you who have just finished college,
defining your goals is one of the toughest questions
to deal with. Most college graduates are unsure of
exactly how to determine what they want in life
much less define their goals immediately.

Here are a few pointers on how to define your
Goals/Statement of Purpose:

1) Your goals must be measurable: Always define
your SOP in terms of the achievement and how it is
measured. Suppose your SOP is to create a career in
Finance. Then be prepared to answer questions on:

-Which field do you wish to enter in Finance, i.e.
Investment Banking, Private Equity, Trade Finance?
-What kind of qualifications and knowledge base is
required to perform the activities particular to that
field of Corporate Finance?
- How does your undergraduate and graduate
education augment your ability to stand out in that
field of Corporate Finance?

2) Your goals must have a certain deadline: Always
state the timeline by which you aim to achieve your
goals. Suppose you want to enter in the field of
Private Equity. Then state what kind of deals do you
envision yourself performing 1 year from now, and 3
years from now?

3) What further steps are you taking for progressive
realisation of your goals: Suppose you want to enter
into the field of Investment Banking, then what are
steps have you taken in addition to reach your goals?
You could state that you intend to pursue CFA to
further enhance your knowledge base suited to the
specifics of Investment Banking

Defining goals is hard work. The reason why we put
it off is because when we decide to make any goals
we are afraid of failing. So when you write your
goals approach it with an attitude of having already
achieved the goals. This will put you at ease and
allow you to truly determine what you wish to do.
Using the above guidelines will then allow you to
further define your SOP for the IIM Personal Interview.

How average students can win at the IIM Personal Interview

Many of you must have gone through a lot of the
literature about preparation for the IIM Personal interview questions . You must have noticed that all
MBA Personal Interview questions state that having
achievements and awards aid in the IIM Personal
Interview process .

However what should your strategy be if you have
no awards and achievements (other than being
school prefect - somehow all MBA candidates are
school prefects) to speak of and you found yourself
selected by one of the IIM's or other top tier
B-schools.

For you to succeed here are a few pointers that can
aid in the process:

1) Be clear about your goals: In your case you will
have to be definitive about what you want to achieve
in the next 3-5 years and exactly how an MBA will
fit in the picture. Suppose you are an Arts graduate,
suppose Psychology Honors. Now you should focus
on the industry to begin with- suppose Finance and
Investment Analysis. You can state that a major
part of the investment analysis is examining trading
psychology. Why some stocks tick despite poor
fundamentals and some fail to move despite good
fundamentals. You can state that you have enough
of numerical understanding and backed by an MBA
in finance you could carve out a strong niche in the
area of Investment Analysis and Dealing of
securities.

2) Show your ability to think business: If you have
never won a award, examine activities that seem to
add value to some process. For example you could
start a blog on a topic such as Tax planning for
home based professionals. Talk about what kind of
advice and articles you wrote for the blog and how
popular your blog was by examining the page views
received from the blog. You can start a blog on
wordpress or blogger as they allow free blogs and
also have a statistics section to measure how many
page views you received.

3) Be well prepared to talk about your academics: Be
clear of the basic fundamentals, as they will surely
want to know how serious you were about your
studies. Go over the major fundamentals and be sure
to be able to answer them

It is not an easy task to prepare for IIM Personal
Interview questions. So dont punish yourself
mentally if the initial answers you write don't seem
impressive enough. Keep practising

How to answer 10 tough interview questions

There's no worse feeling than when you're in an interview and the interviewer asks you a question to which you don't know the answer.

The best way to handle this dreaded debacle is to go into the interview prepared. Familiarize yourself with a few common difficult questions and arm yourself with answers prepared ahead of time.

Check out these tough interview questions and some suggested responses in order to avoid an interview disaster:

Tough question No. 1: "Tell me about yourself."

This is usually the opening question in an interview and it's the perfect moment for you to toot your own horn -- not to tell your life history. Your answers should be a quick rundown of your qualifications and experience. Talk about your education, work history, recent career experience and future goals.

Suggested answer: "I graduated from University X and since then, I have been working in public relations with an agency where I have generated millions of PR hits for my clients. While I've enjoyed working on the agency side, I'm looking to expand my horizons and start doing PR for corporate companies such as this one."

Tough question No. 2: "Why did you leave your last job?"

This is your chance to talk about your experience and your career goals, not to badmouth a former boss or give a laundry list of reasons for your exit. Instead, focus on what you learned in your previous position and how you are ready to use those skills in a new position.

Suggested answer: "The company just wasn't a good fit for my creativity, but I learned that organizations have distinct personalities just like people do. Now I know where I'll be a better fit."

Tough question No. 3: "Where do you see yourself in five years?"

Let the employer know that you're stable and you want to be with this company for the long haul. Keep your aspirations to take over the firm with which you are interviewing, own your own company, retire at 40 or be married with five children to yourself.

Suggested answer: "I want to secure a civil engineering position with a national firm that concentrates on retail development. Ideally, I would like to work for a young company, such as this one, so I can get in on the ground floor and take advantage of all the opportunities a growing firm has to offer."

Tough question No. 4: "What are your weaknesses?"

The key to answering this age-old question is not to respond literally. Your future employer most likely won't care if your weak spot is that you can't cook, nor do they want to hear the generic responses, like you're "too detail oriented" or "work too hard."

Respond to this query by identifying areas in your work where you can improve and figure out how they can be assets to a future employer. If you didn't have the opportunity to develop certain skills at your previous job, explain how eager you are to gain that skill in a new position.

Suggested answer: "In my last position, I wasn't able to develop my public-speaking skills. I'd really like to be able to work in a place that will help me get better at giving presentations and talking in front of others."

Tough question No. 5: "Why were you laid off?"

This question will become more common as the economy continues to slow down. It's a tough question, however, especially because many workers aren't told exactly why they were laid off. The best way to tackle this question is to answer as honestly as possible.

Suggested answer: "As I'm sure you're aware, the economy is tough right now and my company felt the effects of it. I was part of a large staff reduction and that's really all I know. I am confident, however, that it had nothing to do with my job performance, as exemplified by my accomplishments. For example..."

Tough question No. 6: "Tell me about the worst boss you ever had."

Never, ever talk badly about your past bosses. A potential boss will anticipate that you'll talk about him or her in the same manner somewhere down the line.

Suggested answer: "While none of my past bosses were awful, there are some who taught me more than others did. I've definitely learned what types of management styles I work with the best."

Tough question No. 7: "How would others describe you?"

You should always be asking for feedback from your colleagues and supervisors in order to gauge your performance; this way, you can honestly answer the question based on their comments. Keep track of the feedback to be able to give to an employer, if asked. Doing so will also help you identify strengths and weaknesses.

Suggested answer: "My former colleagues have said that I'm easy to do business with and that I always hit the ground running with new projects. I have more specific feedback with me, if you'd like to take a look at it."

Tough question No. 8: "What can you offer me that another person can't?"

This is when you talk about your record of getting things done. Go into specifics from your résumé and portfolio; show an employer your value and how you'd be an asset.

Suggested answer: "I'm the best person for the job. I know there are other candidates who could fill this position, but my passion for excellence sets me apart from the pack. I am committed to always producing the best results. For example..."

Tough question No. 9: "If you could choose any company to work for, where would you go?"

Never say that you would choose any company other than the one where you are interviewing. Talk about the job and the company for which you are being interviewed.

Suggested answer: "I wouldn't have applied for this position if I didn't sincerely want to work with your organization." Continue with specific examples of why you respect the company with which you are interviewing and why you'll be a good fit.

Tough question No. 10: "Would you be willing to take a salary cut?"

Salary is a delicate topic. In today's tough economy though, how much a company can afford to pay you might be the deal breaker in whether or not you are offered a position.

Suggested answer: "I'm making $X now. I understand that the salary range for this position is $XX - $XX. Like most people, I would like to improve on my salary, but I'm more interested in the job itself than the money. I would be open to negotiating a lower starting salary but would hope that we can revisit the subject in a few months after I've proved myself to you."

MBA Interview Questions and Answers

QUESTIONS AT THE INTERVIEW
Even if each interviews is unique, there is great similarity in the subjects touched upon. The principal things your interviewer will be looking at are:

• your previous education
• your professional experience
• your extra-professional activities
• your character and your values
• your motivation for doing an MBA and, more specifically, at the school with which you're interviewing.

We polled numerous MBA students in order to gather a list of the questions most frequently posed in each of these categories. The great thing about this list is that it gives you the wording of most of the questions you will be asked. This list is very exhaustive, and you certainly won't have to answer even a tenth of these questions. The problem is that you don't know which ones you will be posed. We therefore suggest that you prepare a response to most of these questions so that you can be convincing on the spot.

Your previous education:
 Which school did you attend and why that one'?
 Would you choose the same studies again ifyou could do it over again?
 What was your major and why?
 What overall grades did you get? Did you get honors?
 Which courses were you best at? Why?
 What did you like most about this part of your education?
 What did you least like about this part of your education?
 What extra-curricular activities did you participate in? Why and what was your contribution?
 How did you pay for your education'?

Your professional experience:
 Can you briefly describe your career progress to date?
 What are your long term career aspirations and why?
 Please discuss the factors, both professional and personal, influencing the career decisions you have made so far.
 Can you briefly describe the key responsibilities of your current job?
 What are the key challenges of your job?
 While recognizing that no day is typical, please describe a representative working day.
 Why did you choose this profession? Why this company?
 What do you like best/about your current job?
 Describe your most successful accomplishment at work.
 Describe a failure on the job.
 What could you do to be an even more effective member of your organization?
 Describe a situation in which you have been in the position of leading a group.
 What have you done to develop those under your responsibility?
 What specifically have you done to help your company change'?
 How does your performance compare with that of your peers at a similar level?
 Describe your relationship with your boss. What is good and bad about it?
 Where is your industry heading in the next five years? (all the more important if your interviewer works in the same domain).

Your extra-professional activities:
 How do you spend your time outside of work? What activities do you enjoy most and why?
 Describe a situation where you have been in a position of leading a group in those activities,
 Describe your key accomplishments in these activities.
 Describe any failure in these activities.
 What is the last book you read? What did you think of it?
 What is your favorite sport? What aspect of it appeals to you'?

Your reasons for doing an MBA and more specifically the reason you are doing this interview:
 Why do you want to do an MBA? Why now?
 Where do you expect to be in 5 years?
 What do you expect to get from an MBA?
 Why do you want to come to our school in particular?
 Which other schools are you applying to?
 How did you choose these schools? Why so many/few?
 Which school is your first choice?
 What if you are not accepted in the schools you are applying for? ifyou didn't get into any programs?
 What specific questions do you have about our school?
 What would you contribute to our school that is distinctive?

Your character and your values
 Tell me about yourself.
 How would your friends describe you?
 What are your main strengths and weaknesses?
 What have you done that you are proud of?.
 Who are your heroes? Why?
 Describe any significant experience abroad. What did you learn from this?
 Describe an ethical dilemma that you faced. How did you resolve it?