Correspondence: Queen's sent me a chirstmas card

Received a christmas card from Queen's today! The entire MBA office staff took the time to sign it. I'm sure they pump these cards out, but it was nice to receive it. It was a pleasant reminder of my upcoming adventure!

Focusing at work has been difficult lately. Not only have we been extra busy, but I have had to keep working on all the paperwork to get things ready. This combined with the anticipation of starting the program in 4 months and the excitement of not knowing where I could be in 2 years from this date makes my day to day tasks seem rather dull.

On another note I got a reply to my e-mail inquiring as to why I hadn't been re-imbursed for my trip out as promised and why my cheque for my deposit on tuition hadn't been cashed yet. Turns out I was just lost in the paperwork and they will process my re-imbursement immediately. Also, the cheque has found it's way to the bank finally. It just took time for it to be processed on their end.

Financing: Line of credit paperwork submitted.

Submitted the required paper work for the line of credit that Queen's is willing to cover the interest on for the duration of the program and the 12 months following completion of the program.

Now I just need to assess my additional expenses and request a second line of credit.

This is going to be pricey. I am again reminded that most people use this kind of money to put a decent down payment on a house. I just have to keep reminding myself this is worth it. After all, I did crunch all the numbers.

Accommodations: Lease arrived

The lease for the suite has arrived. Now I have to fill it out and return it with a deposit. It will be nice to have this place finally secured.

I will be renting a fully furnished 2 bedroom suite for $1,125/month. That may seem a little steep for a student, but my wife will be using the second bedroom as a study room since she will be completing a distance ed. program while I do the MBA.

The landlord has assured me it is in the quiter part of town and the other units are occupied by serious students.

I still haven't even seen a picture of this place.

(Queen's Housing Website)

Contemplation: Is An MBA Worth It?

(Addition: Just found an interesting article on "Is an MBA worth it" from the Globe and Mail in March 2008 and thought I would edit this post to include a link to this site.)

Is an MBA degree worth it? After lost wages and tuition does this opportunity payout? Would you be better off just sticking to your current position for the next decade?

The majority of us will work to earn a our living. In today's society you could be working a long time. Although I am attempting to quantify the monetary advantages of an MBA, I cannot even begin to assess the emotional, intellectual, and social rewards of an MBA. Can you really put a price on enjoying your employment? If you are like me then you had to suffer through countless student summer positions that redefined boredom and uselessness firsthand. Perhaps you had a position that tried your patience to the point of driving you to the brink of insanity? If you have, then I'm sure you can agree that finding enjoyable employment is PRICELESS. I believe an MBA will help me with this, but it may not do that for everyone.

With that stated, let's continue with the analysis of this opportunity.

To test the value of an MBA I assembled a few scenarios. All of these involve certain assumptions, which anyone can criticize, but as they were used in all cases I would argue much of the error caused by incorrect assumptions cancels out.

To provide a sufficient time scale I chose to look at 10 years. All of the scenarios started with 1 year of employment at my current position. After that they explore a variety of paths. I then compared them to the base case of staying at my current position. All cases assumed an 8% pay increase every year, but it doesn't matter as the affect is irrelevant as I explain further down.

• Scenario A: Base case. Do not return to school. Work at your current job with steady pay increases every year.
• Scenario B: Work in previous position for 1 year, return to school, enter new industry at a slightly lower salary, but receive a 50% one-time increase after 3 years in after gaining experience. (Note: This increase would either come from changing organizations or being recognized for your new expertise within your current organization)
• Scenario C: Work in previous position for 1 year, return to school, enter previous industry at same salary with potential to enter management position, but never get the chance.
• Scenario D: Work in previous position for 1 year, return to school, enter previous industry at a higher salary with potential to enter management position.
• Scenario E: Work in previous position for 1 year, return to school, enter previous industry at a higher salary with potential to enter management position and extra compensation
• Scenario F: Work in previous position for 1 year, return to school, enter previous industry with a much higher salary with potential to enter management position and extra compensation

The specifics of these scenarios are interesting, but the detail is too heavy for this venue.

Results:

• Scenario A: 1.00 times base case since this is the base case
• Scenario B: 1.09 times base case
• Scenario C: 0.87 times base case (the only case that was worse than not taking an MBA)
• Scenario D: 1.34 times base case
• Scenario E: 1.34 times base case
• Scenario F: 1.68 times base case

For specific values I looked at my current position and where I could reasonably be in 10 years if I didn't go back for an MBA. Fortunately for me I have my professional association's salary surveys to consult (APEGGA Salary Survey Page) (2006 Results). For post MBA positions I checked various Canadian business schools placement statistics. All the MBA information I found was similar to what is posted at Queen's. (Site with stats) (2007 Results)(2006 Results). All of the results were discounted to today's dollars. If possible, I would recommend all people contemplating an MBA to complete a similar exercise so you can really see the effect.

I ran sensitivities on the influence of discount rates and inflation rates of salary. The discount rate had no effect. The inflation rate of salary directly affected the magnitude of the difference between the cases, but the cases always ranked the same.

The only scenario that didn't workout for the better was the case where I returned to my previous employment position and nothing changed. Even taking a pay cut to switch industries was beneficial provided you are able to see a large, one-time increase in your salary after 3 years.

In other words, don't take an MBA and go back to doing the exact same thing you were doing before.

None of these scenarios considered the substantially rewarding situation of starting a business that becomes incredibly successful or catching that one-in-a-million opportunity that is out there if people are really willing to dig for it. Those opportunities would be much more rewarding. Perhaps a senior management position?

In conclusion, financially an MBA is worth it. You should easily be able to get the MBA to payout. The magnitude of financial benefit is a directly proportional to what you do afterwards. How much and when? Well, that lies squarely on your shoulders.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

Accommodations: Lease is in the mail

Talked with the landlord of the fully furnished 2 bedroom suite we are hoping to rent. He called me during his lunch break to answer any questions I had and to help move things along. I think he is just as anxious to get this deal done as we are.

After discovering that pretty much everything in the suite was purchased last year and therefor is basically brand new, I told him we would take it. He is going to put the lease agreement in the mail sometime in the near future after finalizing the rental rate for the unit.

Awesome! This saves him searching for a tenant and me from trying to find another place. I will definitely be referring someone next year to help both the landlord and some future candidate.

Hope the lease comes soon.

(Queen's Housing Website)

Acceptance: Confirmed

Got my letter back from Queen's welcoming me to the program and confirming they received my deposit, registration form, and pictures. Pretty quick turnaround as my package, sent by express-post, didn't arrive till last Thursday.

The letter said other material and information would be coming in the future. I'm not expecting anything further until the New Year, but we'll see.

(Update: if you wanted to hear another version of this process, check out a blog by a 2010 Queen's MBA Candidate here. Plenty of information if you explore a bit)

Test: GMAT is Back in Canada

I was just checking up on the GMAT and it is back in Canada. Looks like Pearson-VUE figure things our with a different test center.

Checkout my experience with the GMAT here. Not the most pleasant, but it worked out in the end.

Scholarship: Possible free money.

A friend e-mailed a possible scholarship I might qualify for today. It looks like I might be a good candidate to get this one. I would post it here, but I don't want to hurt my chances by "showing my cards". I will post it once I have found out whether I am successful or not so future people can apply. It is completely separate from the universities scholarship program.

(This deadline has come and gone. It was the Engineers Canada-TD Meloche Monnex scholarship for professional engineers in Canada returning to school to study a subject other than engineering. There is also a scholarship for professional engineers in Canada returning to school to study engineering further.)

Let's not forget the school will consider all students for scholarships after the entrance deadline if Jan. 15th 2008 has passed. I might get some money there too.

Anything to offset the substantial debt load I'm taking on for this degree is more than welcome.

Accommodations: Might have a place.

After a few e-mails back and forth it looks like I may have secured a place to live for the duration of my MBA program. The landlord needs to evaluate the rent, but it should be in the neighbourhood of $1200/month. This includes electricity, heat, parking, and water.

Not bad for a completely furnished 2 bedroom suite. It is the main floor of a house. There are other tenants, but their living quarters are completely segregated. It comes with dedicated washer, dryer, microwave, cooking accessories, cutler, bed, desk, couch, TV, DVD player, etc. NO SHARING. This place is FULLY furnished. Should make the move out easier.

It will definately make my spouse happy as she will be studying via distance education while I'm in the program.

Not included is the are internet, cable TV, or phone. All these bundled would run approximately $130/month, but I don't see any need for cable TV. Perhaps just a phone and internet?

Still have to wait for the lease and to put a deposit before anything is truly secure. That will be at least a month away. Would be nice to have this item out of the way so I could concentrate on other items that need my attention.

(Queen's Housing Website)

Accommodations: Finding a place to live.

Last week I e-mailed one of the students I had lunch with during my trip to Kingston. They had mentioned that the landlord of their fully furnished 2 bedroom apartment would be interested in renting to an MBA student next year.

The address puts it in a really nice area of Kingston. It is definately not in the "student ghetto", which is notorious for it's over zealous undergraduates, especially during "home coming". As I will be in the middle of my program during this massive party/riot I was hoping to live seperate from the "ghetto".

Now that I have contact information for the landlord I just need to wait for a reply to findout if I will be fortunate enough to rent this apartment. Sounds like a pretty nice place.

(Queen's Housing Website)

Financing: Paperwork.

Banker e-mailed me today with the paperwork he needs me to fillout. No rush, but the sooner I turn this around the better. Might be a few weeks as I am very busy at work these days. Feeling kind of exhausted after all the excitement of being accepted. So much to arrange, but it is pretty much running itself now.

Acceptance: Sent Back Form

Today I sent back the required form, two pictures, and check for a deposit on tuition. Hopefully this will arrive before the end of the week and my spot will be secured. Now I just have to wait to see what is next.

Financing: Initiating contact with the banker

After receiving the acceptance to the program I immediately e-mailed the contact at the bank to start getting details about financing. The banker called today at lunch! Yikes, that was fast. They can't wait to chain me to a loan? Just kidding, it's all good. The banker was very friendly and based out of Kingston. They mentioned that about 60% of the students used their services out of Kingston and to date there had been no issues. I will probably just go with the banker based out of Kingston and do things via e-mail and post.

So we discussed what I wanted to set up and what I needed for finances. Apparently Queen's will cover the interest on a line of credit for tuition plus "X" dollars and the interest rate is great too. The remainder of my financial needs will have to be covered by an additional line of credit that I will have to cover. Since I have no real assest I will probably need someone to bond me. That will probably be a parent.

Afterwards I will be able to negotiate the debt into some kind of lump sum financing deal for repayment. Like a mortage, except my brain will be the assest on the line instead of a house...lol.

Anyway, the banker will get back to me in a few days with the required paperwork to fill out. Nice to get this ball rolling since it means someone else will help me with getting the necessary stuff done.

Acceptance: Made it in to the program!

Got an e-mail from Queen's today! I got in! 2 weeks and 1 day after the interview! YES!

They wanted me to verify the details of the letter so they could send out the entire package via courier.

Very excited by this development.



November 13, 2007


Mr. *************
ADDRESS


Dear Mr. **********:

I am pleased to advise that the Admissions Committee has accepted your application for admission to the MBA program for the session beginning May 2008. Please retain this letter as your official permit to register. All MBA students will begin classes on May 5, 2008 at 9:00 a.m. Further information will be sent to you over the next several months.

We recognize the decision to undertake an MBA program is a very important one and that you will need time to give the matter serious consideration. Confirmation of your attendance is required in writing by November 27, 2007 . Please complete the enclosed Personal Data Form and include a non-refundable deposit of $2,000.00 (cheque or money order payable to Queen's University). This amount will be deducted from your tuition.
As well, please include a passport size photograph with your name clearly printed on the reverse. This photo will be used to create a class composite for distribution to students and faculty. It is advisable to arrange for two photos as the University Registrar will require a photo soon for registration purposes. Please be advised that you will be considered for an entrance award after January 15, 2008.

If you require financing, please contact ********** at the ******(Bank)X****** at *****.@****.com to obtain application details regarding the tuition loan plan. Please do not hesitate to contact me should you require any further information.

Regards,



************
Associate Director
**/**
Encls.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day

Interview: The Big Day

Woke up at 6:30 AM and felt like I hadn't slept. Staying up late, because of the anticipation and the time difference, combined with this early get up time was brutal. After a great breakfast I won't soon forget I called a taxi to get to the university. The taxi arrived in under 5 minutes.

Checked in at the MBA administration office at 8:20 AM as requested.

After a brief introduction and a warm welcome I was shown to the lecture hall wear all the other 72 students were already seated. I had a designated seat at the back with a paper name tag beside another potential candidate who was also their for the day.

All the students had permanent name plates with their names on both sides. I figure this was so that not only would the professor know who they were addressing, but also any students seated in rows behind them. I was signifcantly over dressed. The majority of the students were in T-shirts with polar fleases and jeans. I on the otherhand was in full blown interview attire. Oh well, better to be over dressed than underdressed. After all I was here for an interview.

Enter the professor.

What followed was a learning experience I have never experienced before. A dynamic interactive discussion with the professor leading, or should I say conducting, the students. First a quick review and then into the new case study on leadership as it related to strategic change management. After approximately half an hour the professor split the groups into two different sides of the case study and sent them to their study rooms.

I was quickly adopted by a team and joined them to observe as they launched into a dynamic and well practiced brainstorming exercise to answer the questions handed out by the professor.

As I discovered Queen's assigns teams at the start of the semester which you are stuck with for the entire duration of the program. Each team is assigned a team/study room where each individual has a cubical/desk where they work. The rooms were locked with each student having a key to their respective team room. The rooms look well outfited with chairs, desks, internet, bookcases, and some closet space. All of the students' books and binders were kept here.

After about 50 minutes the professor had all the teams reconvene and had two of the teams, one from each side of the case study, face off in front of the class. About 10 mintues of this roll playing had passed when the professor openned the floor to the other teams. Again a very interesting learning environment orcistrated and directed by the professor.

It was at this point that the professor called for a break and told the students to be back in 15 minutes to discuss the actual outcome of the case study. A different member of the class was quick to ask me for coffee and off we went to explore the campus for a Tim Horton's location while discussing what we both saw in the MBA degree.

When we returned the professor rolled out the actual outcome of the case study. After a brief discussion with the students it was time for lunch.

I met the students I had requested to have lunch with at the administration office and we headed to the "QB" or "Queen's Pub". The conversation I had answered all the questions I had and then some. The answers the students gave were very candid. Although none of the answers I recieved made me reconsider Queen's, they did make me aware of certain aspects I hadn't considered.

All of them said they would do the initial review material sent out to them if they had to do it again. All of them said showing up more than a week in advance to set up a place to live was advisable. All of them said the program starts immediately upon the first day (i.e. the fire hose came on full stream). Also, all of them mentioned that in a lot of the interviews some potential employers were looking at grades to date and wouldn't consider candidates if their grades weren't sufficient. Finally, although all candidates are considered for scholarships I should not count on anything too significant (i.e. 5K doesn't make a huge dent in a 58K tuition price tag).

The best part of lunch was that the university paid for it. I know they will make it back in my tuition if I get in, but it is always nice to have someone buy you lunch.

After lunch I went for my interview with the Associate Director. It was an interesting discussion. I started off with mentioning that the interview was as much about them "feeling" me out as a candidate as I was "feeling" them out as a school. We reviewed my resume and then got to the nitty gritty. There was a strong emphasis on team work and team senarios you had been in or how would you handle different situations. Specifically, "Discuss a team situation you have been in that didn't work and how you was it handled." Also, they did look at my undergraduate transcript and wanted to know why I picked the electives I did instead of something else.

(NOTE: If you want a more detailed account of the interview please comment and I will try to accomodate you)

The interview ran a little late, but I think it went well. Only time will tell.

I had the offer to sit in on the afternoon class, but I figured I would sit through that class if I was successful in my application. I knew that if I didn't seize the moment and go to see Sir John A. Macdonald's house while I was in Kingston, I would regret it for a life time.

So I went to Sir John A. Macdonald's house, where I collected some fallen maple leaves. What is more Canadian than a maple leaf from the first Prime Minster's house in the first capital of Canada? If there is something, I can think of it.

After an extended visit at Sir John A.'s house I went back to the airport to await my flight home.

The flight home was long, but went well. No details as they are not relevant to the scope of this blog.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day
• Photo tour of Goodes Hall

Was I accepted? Guess you will have to read on to findout.

(Update: If you want to hear about another interview, check out this blog entry by a Queen's 2010 Candidate)

Interview: The Trip Out

Caught a Airbus A320 on Sunday afternoon from Calgary to Toronto.

During the layover I discovered the new Canadian Business edition featuring MBA schools that was release last week. Of course I purchased a copy.

After an extended layover in Pierson International Airport I got the boarding call for the flight to Kingston. It was a Beech 1900D that seats 19 people. I knew the plane was tiny when they loaded the women first to help balance the luggage load and put the heavier men in the front. There was no drink service on this bumpy 50 minute ride of vibration and engine noise. A very unique experience.

The first indication that Kingston had a small town feel, even though it was 117,000 people big, was waiting for a taxi. Apparently the VIA rail train from Toronto had come in and all the taxis were at the train station to transport all the students around after their ventures in Toronto. After 40 minutes I got a taxi to my bed and breakfast that Queen's had arrange. Of course with all the anticipation of the next day and the time difference I didn't get to sleep very early.

Kingston has 6 prisons, 1 chemical plant, 1 metal processing plant, and the university as it's major employers. The majority of the houses I saw were from the late 1800's and early 1900's giving the town a very unique feel. All this and more from the taxi driver.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day

Was I accepted? Guess you will have to read on to findout.

Interview: Setting It Up

Originally I was going to fly out Thrusday evening and attend class on a Friday morning with the interview in the afternoon. It turns out that the next few Fridays the students and faculty have off because of the change of semisters or for interviews. There are a few major recruiters coming to campus and they will be interviewing a lot of the students. To allow the students to prepare and attend the interviews the school has given them the day off.

This is also true for quite a few of the Mondays I was considering as a second choice. I would fly out Sunday and attend class/interview on the Monday.

Therefore, Monday Octber 29th is the earliest I can interview with both my schdule and the school's schedule.

I still need to get back to the school on the 4 candidates I would like to have lunch with. Figure the best way to do that is to review all the resumes and build a spreadsheet so I can find people with similar backgrounds and similar aspirations.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day

Was I accepted? Guess you will have to read on to findout.

Interview: Goin' to Kingston

I have decided to travel to Kingston for the interview. Being there in person will give me so much more information. Not only do I interview better in person, but I can get a feel for the city, the university, and the staff. After meeting people from a few different schools I know there is a definate advantage to meeting them in person. You get a "feel" for what a school is and what it is about. After all it is the staff and professors that really make a school. Buildings help, but the staff are who will be teaching you and interacting with you on a daily basis.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day

Was I accepted? Guess you will have to read on to findout.

Discussion with MBA Grad: Full-Time University of Alberta MBA

Recently I bumped into an old classmate from the University of Alberta. Like myself he had also completed a bachelors of science in mechanical engineering. However, he has also returned to the University of Alberta to complete an MBA. We arranged to go for lunch to catch up and I took the opportunity to ask him about his experience.

After graduation he worked for approximately a year as an engineer-in-training for a mid-size engineering firm that specialized in facilities and well tie-ins for the oil and gas industry. After being accepted to the program he returned as a full-time student to complete his MBA.

Once he graduation he returned to his company. He mentioned that his supervisor asked him to remove the "MBA" from his business card because it "intimidated" people. I don't think he was very impressed with that request.

Shortly after that he found employment as an Oil and Gas Analysts with a very well respected investment firm that describes themselves as, "a full-service, independent, Canadian owned investment bank and brokerage firm," that, "provides a wide range of financial services to both its corporate and retail clients."

He seemed to like what he was doing and appreciated that his MBA allowed him to get there while his engineering degree gave him the technical skill to specialize in the oil and gas industry. However, I did get the strong sense that he regretted not being able to get a stronger engineering knowledge base before returning to school. The MBA re-branded him as business and really overshadowed his previous degree.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Interview: In person, by phone, or wait for a visit to town?

The letter came from Queen's via courier and confirmed what I had read on the website. Queen's has invited me out for an interview. They are willing to put me up for one night of accomodation and pay for up to $600 of the cost for travel. This is awesome! I haven't even had to pay an application fee and I get to go on for an interview for pretty much free!

I do have some reservations though. I will need to take time off work which means lost wages, but also I am incredibly busy. I don't want to get behind on deadlines to interview for a program I may or may not get into.

Therefore, I called Queen's to discuss other options. I could do a phone interview, but I don't like the impersonal feel of phone interviews. Also, there is the possibility of doing an interview when one of their staff is in town for the MBA fair or to promote Queen's. Turns out now one from Queen's will be in Calgary until the end of November. I don't think I can wait that long.

I am going to have to think this over. I really would like to do the interview in person.

Other related entries in my blog:

Application: Request for interview!

Interview: In person, by phone, or wait for a visit to town?

Interview: Goin' to Kingston

Interview: Setting it up

Interview: The Trip Out

Interview: The Big Day

Photo tour of Goodes Hall

Was I accepted? Guess you will have to read on to findout.

Application: Request for interview!

So, Queen's responded to my e-mail to inform me a that a letter is on the way via courier requesting I set up an interview! Very good sign since I don't think they would bother if I didn't meet most of the criterion necessary for an applicant to their school. Now I just have to wait for the letter to see what the next step will be.

Other related entries in my blog:

• Application: Request for interview!
• Interview: In person, by phone, or wait for a visit to town?
• Interview: Goin' to Kingston
• Interview: Setting it up
• Interview: The Trip Out
• Interview: The Big Day

Was I accepted? Guess you will have to read on to findout.

Application: Checking up.

Got impatient today and e-mailed Queen's. They are supposed to have a "rolling" admission so I figured I should have heard something by now.

Other related entries in my blog:

• Application: Started
• Application: Completed!
• Application: Checking up
• Application: Request for Interview!

Application: Completed!

My application to Queen’s has been submitted after a few weeks of struggling with the essay questions. All my references have submitted there required information. The website was good because it notified me as each reference completed their stuff. The request for a transcript from my undergraduate school to be sent to Queen’s has been submitted. Now I wait.

Other related entries in my blog:

• Application: Started
• Application: Completed!
• Application: Checking up
• Application: Request for Interview!

Background: About Me!

So, a little background about myself to help you see what kind of a candidate I am. I will skip my assortment of student jobs and get to the good stuff.

• Graduated from the University of Alberta with a Bachelor of Science in Mechanical Engineering.
• Worked for a year and a half for a small consulting company out of Edmonton, Alberta planning and managing outages/turnarounds for thermal generating power generation plants (i.e. coal power plants). I was fortunate enough to be able to help coordinate the team of engineers in a leadership position. This position allowed me to work as a project engineer.
• Worked for a year and a bit with small consulting company out of Calgary, Alberta doing basic reservoir engineering and regulatory applications. This position allowed me to re-train in the oil and gas industry (a.k.a. petroleum industry or energy industry).
• Worked for two years with a larger consulting company out of Calgary, Alberta doing economic evaluations of oil and gas properties in Canada. This company has a very well recognized name in the industry and it was awesome to able to join their team.
• Became a registered professional engineer in the province of Alberta.
• Decided to apply to Queen's MBA program.

Application: Started

Started my application online to Queen’s today. The essay questions are going to take some work.

Other related entries in my blog:

• Application: Started
• Application: Completed!
• Application: Checking up
• Application: Request for Interview!

Decisions: Which Canadian MBA Programs to Apply Too

I've pretty much decided to stick with a Canadian school since choosing a US program has all kinds of strings attached to it as I discussed in my previous posting.

This leads me to my next obvious decision...

Which Canadian MBA programs to apply too?


For several years I have been waiting to return to school to earn an MBA. During this time I have had plenty of opportunity to review rankings from one year to the next, read articles criticising various aspects of MBA programs, and track down and discuss the programs with MBA graduates. Hopefully this information will help me.


When I started, the study guide I was reading suggested a person apply to at least 3 schools. One "dream" school, one "above average" school, and one "for sure" school. Is this right for me? I don't think so.

Looking at my GMAT, work experience, and abilities I believe I could reasonably apply anywhere. Although I'm not the "dream" applicant I do have quite a bit to offer. Therefore, I have decided that my first two schools will be "dream" schools that have excellent reputations and programs. My final school will be something more reasonably obtainable.

Queen's is my first choice. Since I they are at the top of my list and they offer a May start date I will apply to them first. The program has ranked well in the past and present. I like the people I have met from there and I like the potential opportunities an MBA from Queen's offers. Also, there is no application fee to apply to Queen's.

Ivey is my second choice. Ivey has a good program historically, but they have been having issues with ranking in recent years. Although they have an extensive alumni network I don't think it is going to help me with where I want to go, so that isn't really important. Also, I haven't really like the people I've met from Ivey so far. Since Ivey's start date isn't unit September, I can apply to Queen's and see how that goes and then apply to Ivey. This will also save me money since Ivey has an application fee and there is no point in paying that if I get in at Queen's. I will also have to consider why I didn't make it into Queen's since the reason might also prevent me from getting into Ivey.

Haskayne is my final choice. I don't think I would have any issues getting onto Haskayne's program given my GMAT and work experience. Also, the program is local and I wouldn't have to move. Unlike my first two choices I would be stuck in the "bubble" that is Alberta. Alberta is very fortunate to have oil and gas, but it is so over powering that it penetrates ever aspect of society here. I would prefer to study business outside of Alberta since I have had plenty of exposure to the business of oil and gas already. Unlike the other two programs, if I chose this program I would probably do it part-time while working. That would take longer, but I would save money in the long run. At the end I would still get my MBA from a pretty good school, but not one of my "dream" schools. I'm only going to go this route if my first two application are unsuccessful.

I know there are many other schools I have ruled out, but they aren't right for me. Also, I really want to get an MBA from a school with a well respected name. All the MBA programs I looked at offered a lot, but only a few had the 12 month length I wanted. I'm not posting my choices here to slight any other programs, but I thought my decision process might help others.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

Aside:

Google within Queen's ( http://www.google.com/univ/queensu)

Test: Official Score

My official test score was sent to me today via e-mail. No change from the day I had the CAT written since I did really well on the essays. This should definately help with my application.

Discussion with MBA Grad: Part-Time Haskayne MBA

During the discussion I had with the individual who took his MBA part-time at Bath University he mentioned he worked with another MBA graduate that I might want to talk with. The individual in question had taken an MBA part-time at the Haskayne School of Business (University of Calgary) while working full-time.

I was given a phone number for his office and called the guy up after working late the same day I had met with the guy from Bath University. He answered and we had a good conversation about the program he went through and the MBA.

His company had paid for the program since he continued to work full time while taking the part time MBA. Since he was working and living in the same city as the school there was no need to video-conference, which did make it easier. He said it was tough to balance work, school and family. Almost too tough, but he would do it again and was happy with the results.

There is one comment that really got to me though. He said, "I have a two year old daughter and I'm only getting to know her now." Ouch. I could tell from his voice that this hurt him a lot.

This discussion has made it clear I should probably take an MBA before I have a family or not at all.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Discussion with MBA Grad: Part-Time Bath MBA

A coworker heard I was considering an MBA and she mentioned her husband had one. I asked if he would be willing to meet to discuss it and she put me in contact with him. We scheduled a meeting at a local Tim Horton's coffee shop on a day he would be in the neighbourhood on business.

This is a fairly unique scenario as the couple in question had immigrated to Canada from the United Kingdom. He had taken his MBA part-time at Bath University. Bath MBA. His employer, a British telecoms company, has sponsored the whole thing! He was very happy about his entire experience and would do it again. Some regrets were expressed about doing the program while having a young family, but he said it was all definitely worth it.

The amazing part I found quite interesting was they originally moved to Canada after he had been hired by a very large Canadian telecoms company. Shortly after hiring him the telecoms company got into serious trouble, was laying people off, and downsizing like mad. This went on for a few years as they dot-com bust occurred.

You would think that he got laid-off or demoted or took a pay cut, but no! He was actually promoted and given successive raises because of the results he was able to produce. He was quick to point out that he was able to do this because of a combination of the education he had received during his MBA and his work experience.

I don't know if many people in Canada can find companies that would sponsor their MBA, but I would sure like to find one. It would make the prospect of working full time while going to school almost likable.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Meeting with Ivey: 1st Class On The Road

Today I attended the "1st Class on the Road" put on by Ivey. They have a professor travel to different cities and meet with perspective students. The professor discusses the MBA program, but also hands out a sample case study, which they work through with those in attendance to help give an idea of what the teaching style as Ivey is like. All you have to do is sign-up, which I did a few weeks ago.

I am very seriously considering Ivey since they did so well in the latest rankings. They also have a really good reputation. I was pretty set on Queen's, but after taking a closer look I'm back on the fence. I don't know who to pick now as both Queen's and Ivey are strong schools.

It was very interesting and definitely helped me get a better feel for the case-based teaching style of Ivey. There was a member of the recent alumni present who also answered questions. The event was held in a conference room of a hotel in downtown Calgary after work hours.

I won't get into the details, but I think if you are considering an MBA it is worth going to one of these just to get a feel for the case-based teaching style offered by many schools. It definitely isn't the same as visiting a school and sitting in on a class, but sometimes travelling to every school isn't feasible. This event comes to your town and you show up.

The extensive alumni network of Ivey was continuously pointed out. I know that is good thing, but there is more to a program than the number of people that went through in the past. I'm more concerned why Queen's beat these guys in the rankings. Also, being the oldest MBA program in Canada, as well as one of the older ones in North America, means you are going to have a larger alumni network.

I'm sure alumni are going to consider other alumni for positions that become available in certain organizations and in those cases you would be wise to select your school based on where everyone else has gone. The alumni that was there was from Deloitte and Touche. After looking at the ranks of management they had posted on their website I found one person who had taken their MBA at a school other than Ivey. If you want to work for these guys you have to go to Ivey.

I was a little concerned about the emphasis the professor made concerning how grades are awarded. He was very certain we knew that grades were heavily influenced by class participation and by that he meant time each student was able to occupy during group discussions of case studies. I think this approach could hurt the quality of a program since students are more likely to just say anything to get "airtime" for their grade as opposed to say only what needs to be said.

There was something about the personality of the Ivey staff and alumni present that I didn't quite like. Can't quite put my finger on it, but I didn't like it. That "gut feeling", my concerns about "airtime", and the fact that there are schools rank ahead of them may have moved them to my second choice. Going to have to do more research.

(Update: checkout what a Queen's 2010 candidate found when visiting Ivey)

Decisions: US or non-US MBA?

After reviewing all the MBA programs listed in The Financial Times, Business Week, and The Economist I found myself presented with a very obvious choice.

US or non-US MBA? Or should I say, "Do you want to live in the US?" Answering this question first is essential.

The rankings are filled with well recognized American schools. They do insert the international schools, but they never rank as well. They also separate the international schools off to the side, but that only makes them look more conspicuous. How to process all this information into a choice? Inspecting the international schools closer I could see a few of the higher ranking ones were from Canada and offered the 12 month intensive program I had been considering instead of the traditional 24 month program with an internship.

What does going to a US school means really mean? If someone were to go to the trouble of moving to the US for an MBA they would obvious want one of the better schools. Almost all of them are 2 years in length and cost $60,000 or more a year for tuition alone. Of course the schools are more than happy to hook you up with an agent who would loan you the money. Not only do you have to finance the tuition, you also have to pay for living in the US. Since you are a student you can't really work to earn money to offset the cost and since you are on a student visa it is unlikely your spouse can work either. At the end of the day you are out $200,000 to a US lending institute and you have an MBA from a well respected school.

Now what?

To make that MBA payout you pretty much need to accept the highest paying position, which is more than likely going to come from a US firm than anywhere else.

Transport yourself to the future 5 years. You have paid off you loan after slaving away and you are finally getting somewhere with the organization you have joined. Now that you are done you want to move home, in my case to good old Canada, right?

WRONG! There is no way you are going to uproot your wife, kids, and mix-up your career AGAIN! Remember, she still remembers how you went back to the "student" budget to complete the MBA and pay it back. Now that she has a house, kids, a car, friends, and a comfortable lifestyle there is no way you will convince her to give that up. Besides you would have to leave all your new friends, career, and lifestyle behind. Who is going leave all that?


I wouldn't mind moving to the US, but for it to be a requirement seems like I'm giving up a lot of freedom for future choice. I think I will stick to the Canadian programs. At least that way I get to choose if I want to be in the US.

Do you want to live in the US? Answer that question first because that is the real question you are answering when you are considering a US MBA program.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

(Update: check out what a 2010 Queen's MBA Candidate has to say on this issue on their blog)

Discussion with MBA Grad: Full-Time Ivey MBA

I mentioned my MBA ambitions to one of the consultants working at my place of employment and he said he knew someone I absolutely had to meet. He put me in contact with a longtime colleague of his that was currently working for a junior oil and gas company.

This individual had been working as a professional drilling engineering in the early 1980's. He had enough experience at the time to be an expert in deep basin drilling, but decided to take a year off to travel Europe. After travelling he returned for a 2 year full time MBA at Richard Ivey School of Business at the The University of Western Ontario located in London, Ontario.

Upon graduation he returned to Alberta, but it was 1987 and the oil and gas industry was in ruins from the National Energy Program (NEP). He found work in other industries, but nothing as lucrative as what he had been doing. After about a decade the industry had recovered enough that he was able to find a suitable position.

He swears the MBA cost him at least a million dollars of lost opportunity if not more. His assessment includes the decreased wages he took because he couldn't come back to the oil and gas industry immediately.

He may be correct, but as a high paid expert deep basin drilling engineer I don't know if he would have been safe in the post NEP economy of Alberta.

One thing is for sure, leaving the industry you want to be in at the wrong time can be bad news. I will definately have to think this decision through before I go back.

I am really glad I met this guy because I know I have done my research when I have someone telling me the otherside of the story. All I have been hearing from the media, friends, and colleagues is that the MBA is great. Now I have found a guy that is telling me the MBA ruined his life.

Is an MBA Overrated? Checkout this article.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Test Day: Moment of Truth

Wrote the GMAT today.

I took the day off work. Woke up a little late. Felt tired from last nights frantic studying. Got dressed in some comfortable jeans and a T-shirt. Ate and studied. Tried to cram more of the "special" triangles and other math tricks into my brain. Listened to my psych-up song, "New Orleans is Sinkin''" by the Tragically Hip, and headed out for the test. Walked to the test center on a nice crisp day in March.

Signed in. There were about 8 other people there. They made me give a digital signature and took my picture. Some other stuff. Apparently there are some people that will try to get other "professional" test takers to write for them. I can see why you might try that on the test, but you can't fake intelligence and smarts in the interview or in the program. I don't see why you would fake a test. If you aren't going to cut it, the test is the cheapest and quickest way to discover. The only person you are hurting is yourself. Oh well.

I brought some juice boxes for the breaks to keep my blood sugar from dropping. I knew I was going to be on my best game. Especially after last nights dismal 540 on the practice test.

Test started at 1 PM.

The first essay was okay. Very thankful I found the list of GMAT essay questions on the MBA website. Sure there were 500 essay questions, but it really helped me get the idea of what would come at me. The first essay was like something from high school. Thesis with introductory paragraph. Three paragraphs following with each paragraph addressing a specific item in the thesis statement. Finally a conclusion. The break was welcomed. Quick juice to get my blood sugar up.

Second essay was okay, but more defend your opinion which is always difficult. The second break I took I used the bathroom and had my final juice box.

The CAT portion. Wow. Tough. I couldn't believe some of the questions that came at me.

Test finished at 5 PM.

In the end all worth it.

My score.....690! YES!

That is pretty much good enough for anywhere with the right work experience. Not bad for 1 week of studying.

Wonder what I could have got with more time to study...

Study: Week of Hell

I have been studying like hell all week! The weekend was full of furious review and multiple practice problems. I had the 2007 Kaplan GMAT study guide with a CD already purchased because I was thinking of getting started with studying. The CD has a program that mimics the CAT testing program.

There is a lot of material to cover. I am almost overwhelmed trying to fit it all in. Once the weekend was over it was back to work during the day. Trying to fit as much studying in the evenings as possible has been rather tiring. I know that a lack of sleep won’t help, but there is so much to cover.

I wrote a practice test on Sunday and got a low 500. Felt sick to my stomach knowing that a low 500 would not get me into any of the schools I wanted.

I am particularly worried about the essays since they are graded by a computer and then a human. Only if the two grades differ by a significant amount will they have a second human “re-grade” the paper and substitute their grade for that of the computer. How on earth can a computer accurately grade an essay?

Also, the computer adaptive testing (CAT) has me concerned. From my studying, I know that it is crucial to get the first 10 questions correct for each section. Since the test will give progressively high level questions for each correct answer, but will do so at small increments later in the test as it narrows the range. That is the CAT test will start with a 550 level questions. If you get it correct at the beginning of the test it will give you a question 100 points harder at the 650 level. If this same question were answered much later in the test correctly and then the test would give you a question 10 points harder at a 560 level. In short, it is hard to impossible to earn a good score if you bomb the first 10 questions.

Regarding study material, I am surprised at how much and little has changed since I was considering the test last time. In 2003 I purchased a Kaplan book and have found that the in the 2007 study guide the helpful pages reviewing all the simple triangles and other math tricks were no longer included.

Tonight, on the eve of the test I took another practice and only got a 540. That makes me sick. I stayed up till 2 AM reviewing everything I got wrong hoping that I could discover the flaw in my logic.

I feel like I was walking down the street and suddenly a starter pistol went off to begin a 100-meter sprint I was going to run next month. I wish I had a least a month to study and not the “surprise” of having one week before the test is discontinued in Canada.

(Update: See how this process went for a 2010 Queen's Candidate on their blog)

Surprise: Write the test next week or never!

I have been considering writing the GMAT for a few months now since it would fit into my timeline for applying to MBA programs. So, today I figured I should go over and check out the test facility to see what it looked like and to check out the test schedule. The online schedule at “mba.com” just didn't seem solid. Also, it is the test center is in the neighbourhood where I work so it wasn't out of my way.

In Canada the GMAT test is offered by Nexient at their learning centers across Canada since the Pearson-VUE, the US based company with the license to administer the test, doesn’t have locations in Canada.

I walked into the Nexient test centre sometime after noon and struck up a conversation with the receptionist.

“Yes,” she said in the polite manner so well practiced by receptionists, “we do offer the GMAT test.”

Then she added, “until next week.”

“Pardon,” I say, rather confused.

“Well, we are offering the test until March 1st and then we won’t be offering it anymore,“ she said in a rather calm manner. I could tell she had been through this before and was bracing herself for the onslaught of yet another person totally bewildered to be hearing this news.

After a brief conversation in which I made sure I was extra friendly to put her at ease I discovered the details. The business arrangement between the two companies was coming to an end. Nexient was not happy with the arrangement and was not going to re-new it to allow Pearson-VUE to continue using their facilities to offer the GMAT.

I called Pearson-VUE and woman with a southern drawl answered. I explained the situation and asked her what to do. She suggested I take the test at a test center in Vancouver or Toronto. I thought this was absurd and confirmed it when I checked both test centers were Nexient locations.

So, I had to make a decision today. After some deliberation, I decided that I could study for the GMAT in a week and write it after booking the day off work. After all, I was considering taking the test a couple of years ago and had glanced at the material in the book I looked at. The math seemed easy enough, but that might just be because I’m an engineer. I was familiar with the basic layout of the test and the CAT system used to deliver it. At least I had read about it.

D-day has been set for March 1, 2007 and I only get one shot because who knows when the test will be offered in Canada again. I am going to have one hell of a week of studying tomorrow, but really how hard could it be…

Other related posts on my blog:

• The Test Is Back In Canada