Employment: Interperting Placement/Employment Statistics from Universities.

I have encountered several people researching and exploring MBA programs. Inevitable "placement" statistics enter into the discuss and I am surprised how little most people know about what is being put in front of them. Therefore, I am posting this excerpt from a document I found on the Queen's Career Centre website. Hopefully it will help people to start asking the right questions about what is being presented to them. Statistics can be very useful, but they can also tell many different versions of the "truth"; some of them misleading.

Reporting Guidelines and Statistics – a few comments.

1. READ INFORMATION CAREFULLY - ESPECIALLY THE FINE PRINT!

Many schools may report information on their web sites differently from the guidelines set out by the MBA CSC – this is perfectly acceptable as long as the institution clearly sets out for you the basis of their reporting.

2. What does the placement (employment) rate mean?

Placement or employment rate is the percentage of students in the class with employment at a given date.

It is the percentage of students with offers of employment based on the number of students reporting back to the university and actively looking for work. This means that if there are 100 students in the graduating class, 80 have reported back to the university and 60 of the 80 have job offers, the placement rate is 75%, not 60%.

Active job seekers -Further to the above, if 20 of the 80 reporting back are continuing to further their education, not in an active job search or otherwise not looking for work (extended travel for instance) then the placement rate is 100% : 80-20 = 60 of which 60 are reporting having received an offer.

Offers count as placement. If a student receives a bona fide offer for a suitable MBA level job but declines it, they are nonetheless considered placed as they had the opportunity to accept meaningful work.

3. Timing of placements;

a. At Graduation – means offers received on or before the official graduation date at the school.

b. Within three months of graduation means offers received on or before the three month anniversary of the official graduation date at the school.

c. Placement reports can include dates beyond three months depending on the type of program and profile of the average graduate. Graduates with more work experience often are more targeted in their job search and may elect to take longer than three months to search for the right job.

4. Source of placements:

Placements facilitated by the University are not just those offers received through formal on campus recruitment programs. University-facilitated placements may include offers received as a result of networking events, alumni connections or other university sponsored, arranged or facilitated sources.

5. Timelines and transparency:

Look for schools that report several years’ worth of data. Economic conditions play a significant role in placement and salary statistics. You should want to see how well an institution fares in both strong and weak conditions. Further, consider how stable and how consistent the salaries are from year to year. Some years a few outliers may take the numbers look very good but may not reflect the total picture of salaries over a long run.

Pre-Study: MBAS 850 Leadership, MBAS 876 The Role of the General Manager and MBAS 811 Financial Accounting

I have had the pre-study material for few weeks and although setting up the web portal and completing online personality tests are fun, the real work has been doing the prep material for MBAS 850 Leadership, MBAS 876 The Role of the General Manager and MBAS 811 Financial Accounting.

MBA 850: Leadership

Letter from Peter R. Richardson welcoming us and explaining that MBA 850 Leadership is one of a quite a few courses on "the role of the general manager". Although it sounds as though he will be involved with us in this aspect, MBA 850 will be taught by Bill Blake. He refers to the selected reading that have been sent.

MBAS 876: The Role of the General Manager

Course outline from Professor Peter Richardson. He refers specifically to a few of the selected readings while outlining the course and discussing the topic at some length. This outline goes on to specify the first assignment and it's due date of May 14th! I haven't even started and I feel behind, but it is exciting that this is ACTUALLY happening!

The selected reading that were sent for both of these courses are:

• The Manager's Job: Folklore and Fact (by Henry Mintzberg. Published by Hardvard Business Review ("HBR"))
• What Leaders Really Do (by John P. Kotter. Published by HBR)
• Blue Ocean Strategy (by W. Chan Kim and Renee Mauborgne. Published by HBR)
• Strategy as Revolution (by Gary Hamel. Published by HBR)

MBAS 811: Financial Accounting

A brief memo detailing "preparing of the first accounting course" and the "Finance and Accounting Workbook: 6th edition" from Queen's Executive Development Centre were sent. The memo, from Professor John Moore, discusses how to use the workbook and the specific chapters that should be focused on. At the moment I am about half way through the workbook and plan to complete all of it. After my discussions with the candidates I chose to have lunch with during my interview trip, one of their two suggestions of what they would do differently was to, "complete all the prep material in advance." The other suggestion was show up a week in advance of classes to get settled since the program starts off at an aggressive pace right from day one.

The workbook is excellent since it starts with the assumption that the reader knows absolutely nothing about accounting. Although parts of the first chapter are obvious to the point of being boring, I know that it is covering everything I need to know so that the professor can assume all the students have this basic knowledge level and can build off of it.

One criticismI have is that there are quite a few obvious typo's that simply reading the workbook, prior to publishing, would have found. It doesn't affect the clarity of the information or my ability to understand it, but it is annoying. Someone should suggest they have a graduate English student read it and circle all the items that could be fixed. That way it would be someone totally unfamiliar with the text and the mistakes would stick out!

The later chapters quickly become more interesting as tools, techniques and more complicated topics are introduced. My biggest struggle so far has been adapting to the "accounting speak" given my engineering background. Being an engineer I expect a certain type of logic, but the wording of certain accounting actions sometimes seems to contradict this logic. I'm sure it is just a matter of getting a better understanding of accounting and the language used to describe it so that I can correctly interpret the various transactions in the practice quizzes.

Enough! Back to the books!

Correspondence: more on web portal from Queen's IT

I have been setting up the web portal and exploring all the features of it for the past few days. Each student gets a "queen's faculty of business" e-mail account that is accessed through the web portal and has functionality similar to outlook. A few of the features this online resource includes are a list of resources for each class, assignment schedule, meeting room booking tools, online file storage, housing links, and a student roster. There are others items, but this is just a few. Most of them are blank since a lot of the web portal hasn't been setup.

Also, it appears as though I may have a second e-mail account associated with my registration as a student with Queen's "university" that is separate from my "business" e-mail account. From what I have read the university will exclusively use this account to communicate with students. You can forward it to another account, but all information regarding tuition, schedules, and other notifications will be sent directly to this account. Not sure if I have this correct, but I will find out for sure in approximately 53 days...not that I'm counting.

I had setup my "student roster", but wasn't seeing any other students. After e-mailing Queen's IT, I was informed that the web portal will not become fully functional until the program starts. I can see why they might do that, but at the same time I think it would be useful to put students in contact with each other prior to the program via bulletin board or chat group. That way they could assist each other or share information regarding housing or student visas/study permits. This wouldn't help me since I have housing arranged and I'm a Canadian, but for some of the other individuals that have contacted me through this blog it could be useful.

For now I will just have to focus on the pre-study material sent.

Accommodations: Info from Queen's

The web portal is up and on it are some links to various websites to assist incoming students in finding a place to live. Here is what they posted:

Your biggest priority at this point in time is undoubtedly securing your
accommodations for your year of study at Queen's. You have your choice of
staying in our graduate student residence - a mere 1-minute walk from Goodes
Hall - or securing a nearby apartment or house. Generally speaking, most
of our students live within a 10-minute walk to Goodes Hall.

Here is a list of some resources that will help you find your new home away
from home:

1. Check out the 'housing' section under the Quick Links section of this
   portal. There you will find information re: properties that are being
   occupied by current members of the Queen's MBA class.
2. Graduate residence information may be found at https://housing.queensu.ca/residence/
3. Queen's Accommodation Listing Service http://notes.queensu.ca/ALSWeb.nsf
4. Below are links to four prominent property management companies in the
   Kingston area:

• Homestead Land Holdings Limited
• Keystone Property Management Inc.
• Kincore Holdings Limited
• Panadew Holdings

If you are unable to find suitable accommodations through one of the above four means, please contact the Queen's MBA office at 888.621.0060, 613.533.2302,
or queensmba@business.queensu.ca

Correspondence: Official IT Requirements

Queen's replied to my e-mail inquiring about IT requirements and the delay in the web portal being opened up. The web portal is expected to be up and running by the end of this week. They also sent me the official IT requirements for the Full-Time MBA Program for the Class of 2009. Below is what they sent me.

Notebook Computer Requirements
A notebook computer is a requirement for the duration of your Queen’s MBA program. The attached table (edited into a bullet form list for this blog posting) outlines the minimum requirements for any notebook that you wish to use and also outlines the minimum specifications you should be seeking should you need to purchase a notebook.

If you plan to bring to the Program a notebook computer that you already own, not only should it meet our minimum specifications, but you should ensure that it can be serviced conveniently and quickly in Kingston. Nationally-known brands such as Dell, Lenovo and Toshiba HP should present no problem but it may be difficult to find service for lesser-known systems. You would be well advised to purchase extended warranty coverage for the duration of the program to avoid any unpleasant surprises. It is also wise to ensure that you have a copy of the original invoice should warranty service be required.

Queen’s School of Business Technology Helpdesk stands ready to assist you in any way possible with regards to any computer-related problems or issues that may arise throughout your studies. Our specialists are available from 8:00 am to 6:00 pm Monday to Friday to help you with any of your computer-related needs for your various courses. Service is available by phone, email, website, walk-in or even team-room visits. We will act as a “first contact” point in troubleshooting system problems, providing simple diagnostic procedures and possible suggestions toward the fastest possible resolution. Should it be necessary to contact your vendor or manufacturer we can direct you to your nearest service depot as well as provide you, when possible, with the appropriate phone number or web address.

Should your notebook computer require service we maintain a limited stock of notebook computers that are available to you for short-term loan.

Our helpdesk staff members are fully trained in all of the software applications required for your studies including Microsoft Office applications, Adobe Acrobat Reader, Norton Antivirus, and Lotus Notes/Domino applications. We support Windows Vista and Windows XP Professional/Home operating systems. Unfortunately there is no support for MAC OS. We cannot guarantee full functionality of MAC computers with the Queen’s MBA portal or Domino-based email and collaboration services.

We will do our very best to relieve you of any worries or concerns surrounding the technological component of Queen’s MBA program allowing you to remain focused on the course material.

Minimum Notebook requirements

If you have purchased a computer within the last year or two then you can pretty much be guaranteed that it will meet at least the very minimum requirements for the Queen’s MBA Program.

The following chart will give you an idea of what specs to look for when evaluating either your current notebook computer or purchasing a new one. Although Microsoft has minimum requirements both for their Windows operating systems and Microsoft Office suites, you would do well with at least meeting if not exceeding the recommended requirements. The main concern for the purposes of the Program is that your system runs well with the following:

• Internet Explorer 6 or 7
• MS Office Pro 2007 (which will be supplied to you)
• Windows XP Home or Pro or Windows Vista

To achieve this we would suggest at least the following computer
Configuration

• Processor of at least 1GHz
• 1GB of RAM memory (2GB if running VISTA)
• A hard disk with at least 10GB of free space
• Video of at least an XGA resolution (1024 x 768) and 256MB of video
memory if running VISTA

If you have any questions or concerns regarding either your current notebook computer or wish advice on purchasing a new system please do not hesitate to contact the QSB Technology Helpdesk.

1.866.622.2667
helpdesk@business.queensu.ca

(Attached table edited into a bullet point list shown below to facilitate posting)

Feature: Processor

• Minimum: 1 GHz
• Recommended: 1.8GHz or better
• Comments: The processor is the "engine" of the computer. Intel has three types of processors currently available, The Celeron, the Pentium M or Centrino and the newly released “Core Duo”. The larger the
  number (GHz), the faster the processor within each specific type. Choose the Celeron if there are budgetary concerns. If your interests tend to anything involving multimedia applications, web authoring, games etc. then the Pentium M or Core Duo would be better suited. They offer faster processing technology and allow for much longer battery life in a smaller, lighter package.

Feature: Hard Drive

• Minimum/Recommended: 20 GB AVAILABLE FREE SPACE
• Comments: Hard drives currently range anywhere from 40GB to 160GB in size. You should have available for the Program at least 10GB of free space to be devoted solely for program purposes. Generally a 40GB drive is more than enough for general applications but if you do wish to save any type of multimedia files then the larger the drive the better. The cost between an 80GB drive and a 100GB or 160GB drive is not significant when compared to the overall cost of the system.
  

Feature: Memory

• Minimum: 1GB
• Recommended: 2GB
• Comments: Memory (or RAM) is very important in determining system performance. The more memory, the better the performance. Memory allows you to have multiple applications open concurrently and reduces the frequency that the system needs to access the hard drive. Again, as memory is fairly inexpensive at the moment, seriously consider going with at least 1GB. Microsoft recommends a minimum of at least 512MB for its soon-to-be released Vista operating system but advises 1GB and even 2GB is preferable.
  

Feature: Screen

• Minimum: Your Preference
• Recommended: 14” ACTIVE (TFT)
• Comments: As the user interface with the computer, this choice is critical to a user's satisfaction, and long with processor speed is a major determining factor in the cost of the notebook. Screen sizes range from 12.1” to 17”, but sometimes it is difficult to find cases for notebooks with larger screens and they are relatively heavy and fairly power intensive limiting battery life.

Feature: CD ROM

• Minimum: DVD/CD-RW
• Recommended: DVD-RW
• Comments: Traditionally the CD ROM was solely used to load programs, the higher the speed, the faster the load time. Now there are options to include DVD players (Digital Versatile Disk) or CD-RW's (CD riters or "burners"). A DVD allows you to play DVD movies and software on your computer or TV (with the necessary connections). A CD-RW or DVD-RW will allow you to save large amounts of data (700MB-7GB) to a CD or DVD for back-up in addition to creating music CD's or photo albums etc.
  

Feature: Portable Storage

• Minimum: 1GB Memory Key
• Recommended: 4GB Memory Key
• Comments: The traditional 3.5" floppy is largely not available any longer on new computer systems. Many will find the very economically priced USB memory keys much more convenient with far greater capacity for storing and sharing files. They are useful for backing up information and for porting presentations to other computers.

Feature : Modem

• Minimum/Recommended: 56Kbps V.92
• Comments: Most modems are internal in notebooks and are included as a standard component. This is the fastest connection you can achieve on a regular dial-up connection and is necessary if you do not have an Internet connection using DSL (eg. Sympatico) or cable. It is also required if you are traveling for use in hotel rooms where high speed is not available.
  

Feature: Ethernet

• Minimum: 10/100 BASE-T PCMCIA
• Recommended: 10/100/1000 BASE-T Internal
• Comments: Also known as a NIC (network interface card) and is standard on all, but the most very basic systems. It allows connection to corporate networks as well as DSL and cable modem connections.
  

Feature: Wireless LAN

• Minimum: IEEE 802.11b
• Recommended: IEEE 802.11 a/b/g
• Comments: Queen’s School of Business in Goodes Hall offers a wireless Local Area Network as a supplement to the wired Ethernet. Wireless LAN capability is commonly offered as a standard feature on current notebook computers. If your notebook does not have built-in wireless then a wireless PCMCIA card can be added to most notebook computers.
  

Software: Operating System

• Minimum/Recommended: Windows XP Home , Professional or VISTA
• Comments: Keep in mind that if you intend on using your notebook in a corporate environment Windows XP Home edition does not allow connecting to a domain and therefore you will not be able to join the company network.
  

Software: Office Suite

• Minimum/Recommended: Office 2007 Professional (Supplied free of charge by Queen’s)

Software: Web Browser

• Minimum/Recommended: Internet Explorer 6 or higher

Software: Viewer

• Minimum/Recommended: Adobe Reader 8 (Supplied via free download through Queen’s)

Software: AntiVirus

• Minimum/Recommended: Symantec AntiVirus (Supplied free via Queen’s Packman)

(Note: After the first MBA821 Finance Fundamental class in late August we discovered a financial calculator is a requirement for this course. The professor recommends the Texas Instruments BA II Plus since it is the one he is familar with and can assist the students with using it, but any financial calculator will do.)

(Update: Checkout what the requirements are on this Queen's 2010 Candidate's blog)