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Live Chat with Full-Time MBA Program Admissions

Chat with the Office of Diversity Affairs and Career Services

June 4, 2007— TIME 9:00-10:00AM CDT

Melissa: Welcome to the Office of Diversity Affairs and Career Services chat! The chat is now in session. Our speakers are standing by for your questions. Please feel free to ask your questions now.

Amber: I am a first year student who will be interning with Bear Stearns within their corporate finance group. Last summer I attend Merrill Lynch Associates Day, Goldman Sachs Boot Camp, and MBA Jump Start.

Alandrea: Hello! My name is Alandrea. I am a first year student from Southern California concentrating in Finance, Accounting and Entrepreneurship. I will be working in Investment Banking this summer. Prior to school, I was a Health Care Service Administrator. Welcome!

Jose: Hi! This is Jose Luz Frausto, Associate Director of Diversity Affairs. I look forward to working with you closely this fall.

Jessica: Hello and welcome! I'm Jessica Pounds-Bryant, Director of the Office of Diversity Affairs. I'm sitting here with Char Bennington, Senior Associate Director of Career Services. We're looking forward "chatting" with you and seeing you in the fall.

Chris: Hello! I am a first year (soon to be second after finals) here at the GSB. I will be doing consulting at Booz Allen Hamilton in Dallas, TX this summer and I am here to answer any questions you may have.

ChicagoGal: How did you go about preparing for the summer camps?

Alandrea: I made sure I did my homework on the firm that I was attending. It was important to be able to talk about the firm on some level. You don’t have to know everything, but it helps to have a few talking points. Also, I took some time to work on my resume through the Career Services website. I wanted to make sure I was prepared to hand it out if someone asked for it.

Shonna: I was offered a scholarship/fellowship from one of the banks. What are the pros and cons to accepting these scholarships?

Jessica: The pros to accepting one of these scholarships are: 1) full tuition for your first year of business school and possibly for your second year if you accept a full-time position, 2) secured summer internship, and 3) tons of firm networking and support. These are all wonderful things if you know you want a career in banking at that particular firm.

Jessica: Many students come to business school to explore career opportunities. If you accept one of these scholarships, you’re cut off from a lot of that exploration. You can’t participate in fall recruiting activities, and you are tied to the firm and the industry for your summer internship. You may discover other opportunities of interest once you arrive on campus.

JoshQ: How are students selected to attend the firm’s summer programs?

Alandrea: Hi Josh. Usually there is an application that is sent out to all potential applicants. Students will usually be required to submit some basic information about themselves (GMAT, GPA, schools, etc). Additionally, some firms might require a brief statement from applicants. Some firms have capacity for all who apply. On the other hand, for those firms with limited capacity, students are selected through a "black box" process of which I am not aware of.

rsewell: Hello everyone! Looking forward to the move. Jessica, (1) when can we expect a financial aid update (2) is there a deadline for Pre MBA Class registration (are spots limited)? Thanks look forward to seeing everyone soon.

Jessica: Hey. You should receive a final update from financial aid probably within the next three/four weeks. This is a lengthy process that has some firm involvement so it takes awhile. The answer for the pre-MBA deadline is - there isn't one. They keep the deadline open until the class fills up.

Melissa: Hi all, we've got plenty of time and lots of room for questions. Ask away!

Joann: How can we begin preparing for the NBMBAA/NSHMBA Conferences?

Jose: Hi Joann, a few of things you can do at this point is to update your resume and begin to research your target firms. You will receive additional preparation for this once you get to campus.

ChrisK: How does my attendance at the summer camps affect my recruiting potential?

Chris: Attendance to these camps is strictly for you to get a jump on your peers that do not attend. Once on campus recruiting starts you will have much more insightful questions and a better idea of what you will be doing in these firms. Attendance only helps you, it will not hurt if you do not go.

KeitaH: How will I be viewed if I don’t attend the camp?

Amber: My answer is similar to what Chris answered to his last questions. These camps are more for your benefit so you can get a feel for different industries and companies. If you don't attend it will not adversely effect you since you will have many opportunities to meet with the companies when they come on campus after school starts.

Jessica: I would also add that if you plan to attend the conferences with an interest in marketing you should be aware that many of those firms interview on the spot. I would recommend you utilize the Career Services material on the admitted student website this summer to be sure you are prepared to do. We host a session in August on how to put your best foot forward at these conferences and also how to handle tough situations regarding early interviewing opportunities.

Melissa: Hi all. Thanks for your questions so far. Our speakers are working on their responses. We've still got plenty of room for more, so please don't be shy!

dgumpel: Hello all, thanks for doing this chat. To what extent are GSB alumni, especially those in the Chicago area, active? Are there social/networking opportunities?

Amber: The school is making a strong effort towards strengthening the alumni community and bridging the gap between students and alum. Alumni groups are very active all across the country and especially in Chicago. Every week students receive emails listing alumni events throughout the city that we are invited to attend as students. Those are great ways to meet alums in the area. We also have a group of students called Class Agents who organize breakfasts and dinners between students and alumni. If you go to the GSB website you can see a list of alumni events around the country.

Nika: Is there one camp you liked more than another?

Chris: All camps are very useful. I went to MBA Jumpstart and Bain Camp. They are great places to begin networking both with students and potential employers. Even camps in industries you are not sure of are good to attend because you can better focus your search when you get to school.

anmism: I am attending JumpStart in July and I want to clean up my resume prior to the conference. Is it correct that our access to the Career Services website changes sometime during the summer? What is the best way for me to work with them on my resume prior to July?

Jessica: The Career Services materials will be available on the admitted student website on Monday. I would suggest you pull down the template and reformat your resume to the GSB model. You will have one-on-one coaching for your resume later this summer so we can compile the African American and Hispanic student resume book for the conferences. Until then, use the template. Corporates aren't looking for a perfect resume - just one that utilizes the GSB format and highlights your strengths. There are resources on the web that will help you do this.

Karmel79: What should I expect when I attend a summer camp? Is there anything in particular I should be prepared for?

Chris: Expect to learn a whole lot. Be prepared to ask a lot of questions and follow up with the people you meet this summer. They will be invaluable to you when it comes time to get on closed interview lists in the Winter.

Melissa: We have just over 15 minutes left! Ask those "burning questions" now! Our speakers are standing by. Feel free to ask our first-year students about their experience at the GSB!

TonyNYC: What if I am not interested in finance? Are there other scholarship and camp opportunities available?

Jose: Most of the external scholarship programs are in finance – simply because they have the capital to put towards these initiatives. You can also look into the National Black MBA and National Society of Hispanic MBA’s scholarship programs. As for the camps, there are other companies that offer camps too, like Lilly, Proctor and Gamble, and Pfizer. These camps focus more on marketing and corporate finance. Keep an eye on the GSB admitted student website as we update the scholarship/summer programming page regularly.

drodriguez: What summer camps exist, and when do they take place? When I googled "Merrill Lynch Associates Day", it looks like the deadline was June 1. Have deadlines passed for most of them?

Jessica: Most of the banks have them - but this year many are for women vs. ethnic minorities. We haven't received word on any invites to send - including Merrill. I just sent a message to the Merrill diversity recruiter to see what has happened. I would still apply and let them know you weren't aware of the deadline.

Amber: To follow up to Jessica's last comment, even if the deadlines have passed or if they have shifted their student focus you can still follow up with the firms that have hosted events in the past, like Goldman Sachs and Credit Suisse to find out more information about the firm and make contacts that way.

Jessica: I should use this opportunity to have you save a few dates on your calendars. These include 1) Diversity Career Seminar - Wednesday, August 29th. This will help you prepare for the whirlwind of recruiting activities that will occur this fall - including attending the conferences; 2) National Black MBA - September 14 - 16th. If you choose to go you could likely attending Thursday evening and Friday; 3) AAMBAA/HABSA Student Retreat - September 22nd; 4) NSHMBAA - October 5th and 6th.

ChrisK: If you had to do it all over again, would you go to the summer camps, or not?

Amber: Yes. I found the camps very useful. I left the day camps with insight to the industry that no informational interview could provide. I also had the opportunity to network with several people within the company.

Jessica: Thanks to all who joined us. Feel free to contact me if you need anything over the summer. See you this fall!!

Jose: See you this fall!

Char: Have a good summer. We look forward to meeting you and working with you in the Fall!

Alandrea: I am about to sign off, however it was great chatting with you all. If you have any questions, please feel free to reach out to Jose or Jessica. If you would like to reach me individually, I can be reached at atimmons@chicagobooth.edu. Have fun this summer, relax and I look forward to seeing you all in the fall!

Chris: My last words of wisdom... Attend some camps and get to know people this summer, but relax. You are all in for a very challenging fall and winter. Your schedules will be completely blacked out with group meetings, lunch and learns, company presentations, etc. so rest up! The good news is you will have a great support system here at the GSB with everyone more than willing to help. Have a great summer and I will see you all here in the fall.

Amber: Thanks for joining us. Be sure to take time for yourself this summer and get plenty of rest because school starts...

Melissa: The chat has now ended. Thank you for participating! A link to the full transcript of the chat will be emailed to you on Friday. If you have additional questions, please feel free to post them to the admit discussion board! Have a great day everyone!