Posted by - NE89 - on 28 March 2013 - 12:12pm

• Posted by - nikolai89 - on 30 March 2013 - 10:46pm

  Hi Thomas,

  thank you very much for you quick response. I'm very interested in the programs offered by the IE Business Schools - both, the Master in Management and Master in Finance. Therefore I'd be very pleased to speak directly with Mrs. de Gruyter.

  One year ago, I attended the 15th World Business Dialogue in Cologne. One of the speakers was Kenneth P. Morse who is the former MD of the MIT Entrepreneurship Center. He was very inspirational and spoke about entrepreneurship and how to gain the the needed experience. In his opinion one classical way is to work several years in investment banking or consulting before moving to a fast growing company in order to experience the scaling of a startup and founding your own business. And that's my long-term goal. Create value!
  At the moment I can't tell, whether I want to stay in one branch or company. I want to receive the skills needed to succeed in business without limiting my chances to apply for a position in the investment banking and consulting. I researched the IE Site and it is obviously that the chances to get into IB is higher, if someone decides to take the MIF program.

  I saw, that the IE Business School mentions a median GMAT-Score of 680 or so. The scholarships are merit-based. Do you still think, that I'll have a realistic chance to get into one of its program? And do they pay a great attention on the score when they decide the scholarship awarding?

  Thank you very much for you help.

  With best regards,

  Nikolai

  Reply

  • Posted by - Thomas Graf - on 30 March 2013 - 11:08pm

    Hi Nikolai,

    I'll send you Vanessa's contact details via a private message. As for the admission, I am pretty confident that you will become accepted.

    As for the scholarships, the IE - like most business school - likely is strict but that doesn't mean that you do not have a chance. Keep in mind that there are merit-based and need-based scholarship and on the IE Financial Aid website you find lots of them. Finally, you are e-fellows.net scholarship holder and as such can apply for special scholarships that IE grants only for people endorsed by e-fellows.net. Check out http://www.e-fellows.net/STUDIUM/Master/Wirtschaft/IE-Business-School-IE-University/IE-Stipendien.

    Best wishes
    Thomas

    Reply

• Posted by - nikolai89 - on 29 March 2013 - 2:30pm

  Hallo Thomas,

  I studied BA (B.Sc.) at the University of Cologne and I took a gap year to take several internships. At the moment I'm planning my applications and I would like to receive your evaluation of my chances. Here some facts about me:

  Education:

  • Abitur: 3,4 (German:1,8)
  • BA with major in Finance: GPA: 3,3
  • Special program abroad at the Leonard N. Stern School of Business (20 ECTS): 3,7 >>> this program was initiated by the University of Cologne and we were taught by professors of the Stern School of Business & Kelley School of Business for two months
  • GMAT: 640
  • e-fellows scholarship

  Working Experience:

  • founded an e-commerce shop > decided to close after several attempts to raise capital > nevertheless a great experience :)
  • 4 months internship at KPMG > Consulting in Financial Services
  • now: 3 months internship at HSBC > M&A and Equity Capital Markets
  • planed: 3 months internship at an incubator in Kuala Lumpur > Focus on e-commerce

  Extramular activities:

  • member of the organization team of the biggest student run economic convention for 1 year(former speakers: Bill Gates, Josef Ackermann, Axel Weber, etc.) > full-time engagement > I was still able to end my studies in 6 semesters
  • chairman of a academic society for half a year

  I'm very interested in the "MIM" programs of the following schools:

  • ESCP Europe

  • IE Madrid

  • LBS

  • CEMS Master (University of Cologne)

  • Mannheim

  • After receiving a score of 640 in the GMAT, I've a lack of confidence. Do you think that my scores and track record meets the expectation of the named universities /business schools?

  • I'm not sure, where I will work in five, ten or 15 years. Therefore I'd like to hear your opinion on the following:

    Is it a disadvantage to stay at a german university, if I want to work internationally or doesn't it matter any longer, if I proved my abilities after a decade?
    If you'd receive a confirmation from one of the named business schools, which demands a fee of 20k to 33,5k would you take the financial burden of a loan or go to a public university
    The IE Madrid is ranked very high at the moment. But what is if the university fails to keep this rank and falls back? Would it be more wisely to rely on a business school with a more manifested reputation?

  I'm looking forward to read your answer and I'm very glad that you help the subscribers of your site make a well reasoned decision.

  With best regards,

  Nikolai

  Reply

  • Posted by - Thomas Graf - on 29 March 2013 - 10:00pm

    Hi Nikolai,

    thank you for your question. I think you have an excellent CV and the GMAT is sufficient, even though not outstanding. So, I wouldn't worry about becoming invited for the interviews at some (if not at all) of these schools.

    As for your career planing: I think you primarily need to link your education to your job directly after graduation. I don't think that the country of your master studies has any influence on what you are doing in 10 or 15 years.

    As for the financial burdon, that's a difficult question. It depends on what you want to do afterwards. If you are career-oriented and like to apply at the firms that recruit at these schools (or similar firms) then I think it is worth as the master can strongly push your career chances at these firms. If you are not clear about where you want to work later on I would keep on working, earn and save money, and consider an MBA after 2, 3, or more years.

    Finally, I wouldn't care too much about a specific ranking position - instead, I would observe how a schools ranks (1) overtime and (2) in several areas (MIM, MBA, EMBA, etc.). IE is ranked high in all these rankings, so I wouldn't care if IE ranks a bit better or worse from one year to the other.

    I would, however, check if the IE Business School is the right school for you. Do you want to work at the firms that come to campus? Do you have some favorite employers in Germany (or whereever you want to work) and do they recuit at IE? In other words, I would - for all schools - try to reflect your cirteria and find the school that best meets them.

    If you are interested in IE, I can bring you in contact with Vanessa de Gruyter, by the way. She is the IE representative in Germany (based in Munich) and very nice. If you have questions on the other schools we have a REQUEST INFO BUTTON at most profiles - by this, you can send y0ur questions to the admissions teams.

    Finally, I would take your three favorite schools - after you have been accepted - and ask them to bring you in contact with current or ex students. And I would visit the campus, just to get a sense of feeling comfortable or not.

    Best wishes
    Thomas

    Reply

• Posted by - NE89 - on 28 March 2013 - 9:00pm

  Hello Thomas,

  Thank you so much for the reply. The reason why I am so nervous is because I think that my grades are a bit low and I tend to compare my application to the applicant pool (considering that many MiM applicants hail from prestigious universities abroad).

  Interview wise, I've seen what I can expect (thanks mainly to your feedback and that of the members who were invited for an interview) but nonetheless you are absolutely right, there's another hurdle to cross.

  Just to confirm (and sorry if I'm being ticky), I have my chances at the schools I'm targeting and all that's needed is to prepare well for the interviews.

  Kind regards and thanks again.

  Reply

  • Posted by - Thomas Graf - on 28 March 2013 - 10:17pm

    Hi again,

    I understand you - and I agree that the grades could be a problem. I am convinced, however that your excellent GMAT and the rest of your cv will counterbalance them. You may not receive acceptance from all thee schools but you will find a MIM program that satisfies you.

    All the best
    Thomas

    Reply

• Posted by - Thomas Graf - on 28 March 2013 - 8:42pm

  Hi there,

  thank you for your question. You have a great cv and I don't see any reason why you should be nervous. Of course, admission to a MIM program also depends on the interviews. But at least your records are such that you should calm down.

  Best wishes
  Thomas

  Reply