Yale MBA for Executives Virtual Information Session

– Hello and welcome to the
Yale School of Management MBA for Executives webinar
and information session. My name is Maria Stutsman y Marquez, and I serve as the associate
director for the program. And I’m here with my colleague and fearless leader, Joanne Legler, who’s the director of admissions. In the background we have David Daniel who serves as the assistant director. And he is online ready to
field any of your questions. And a big thank you to
our media services team, AJ and Abraham, who are
monitoring the screening and set up the classroom for us today. So without further ado, let’s jump in. So to provide you with a quick
overview of our time today, we have about the next 45 minutes to go over kind of a broad and kind of in-depth
overview of the program, and we would be remiss if we
didn’t start with our mission. So the mission at the
Yale School of Management is to educate leaders
for business and society. And we take this mission
incredibly seriously. This is really the ethos
of the school itself. And the program, you know
we started in the 1970s as a school of management, and the first degree that was offered here was the master’s of public
and private management. And that really is speaking to the jointed and intersected
nature of the program. So now we’ve now grandfathered
in to the MBA fully, but again this legacy lives on. And so I’m going to pass
it over to you, Joanne, to tell us more about Yale
University as a whole. – Yeah, so we’re lucky enough, of course, to have as our parent
university, Yale University, one of the oldest and most
well-known universities in the world, much less here in the U.S. And so while Yale is quite old, of course, and it has graduated and given us a number of incredibly famous and bright, intelligent world leaders, including Supreme Court
justices, Nobel Prize winners, award-winning actors and actresses. It’s got this great legacy that
we are able to build off of and really use as our best resource here at the School of Management. So we have this great legacy. And it’s literally across the street from the School of Management. We really draw on that. But by comparison, SOM is fairly new. We’re one of the youngest
graduate schools here at Yale. And that really allows us to not be tied to the old ways of thinking, and allows us to be innovative, it allows us to think
about things broadly, and allows us to do things
in a unique way as well. And so we’re always thinking about our ties to the university and always thinking about how we can use those
great resources and we do. We have professors who come
over here from the places like the Yale School of Drama
or the Yale School of Law. Our doors are open to
students, not only MBA students but those that are in
other graduate programs, even undergrad students
are occasionally allowed to take classes here. So the point is we are one school, but we are absolutely a small
part of a larger university and really utilize the
resources at the university. And at the same time, Yale is
new, it’s fairly young, SOM, and we’re able to really think
about new ways of thinking and be innovative in our curriculum and the way that we think about things. – Absolutely. So we want to share with
you a little bit more about our program specifically, and we’re going to kick
off with the logistics. So this is a 22-month program, and there are some weeks
that are in residence. So what that will look like
over the course of time is you’ll have over 60 days
out of office. (chuckles) Most of our classes are
held on every other weekend on a Friday and a Saturday. And so in July, you have a two-week start which is a kick off with orientation and you’re set up to take
four different classes that are really kind of this
orientation to management. You’ll have another week
in June of your first year which is our Global Network trip which is also something that
Joanne will share with you in more detail later on. And then to kick off your second year, you have another week in
residence here at Yale SOM. And that really is the culmination of four full weeks on campus, and then 60 days out of office
through those 22 months. So we’re telling you this now
because it’s really important that as you’ll hear later
through the admissions process why this is so critical
to understand upfront, because it means a lot to
some of the stakeholders that are within your community and are going to be championing you on. A sample class weekend
will look like this. So you will take four
different classes each weekend. And we typically have like a colloquium speaker
series at some point. Lunches are provided. And then you’ll also have
some evening opportunities to, like Joanne said, really
get a sense of what it’s like to be a Yale University
student as a whole. So as somebody who’s at
the School of Management, you are also embedded in this very dynamic and unique community all
throughout New Haven. And so you can take, well, and
I’m going a little bit ahead because I know Joanne’s
going to share a lot more about some of the opportunities
for cross-campus trips. And on Saturdays, while
they start a bit earlier than they do on Friday at 8:00 a.m., you typically have an
opportunity to take a personal or professional workshop
at the end of class. So this is the sample class weekend. And all of this takes
place in lovely New Haven which is well-positioned
between Boston and New York. And also really accessible
for those who are traveling from the D.C. area. About 75% of our students are coming from this East Coast corridor, but we do have quite a few students who are traveling as far
away as Los Angeles, Mexico, in the past we’ve had
people travel from Germany, and Norway, and Guatemala,
and we have folks who are coming from Texas,
and Wisconsin, Chicago, so there is certainly a lot
of geographical diversity within the program as well. So typically at this point we usually ask about
favorite pizza places, because New Haven is well-known for its pizza alongside Yale University, but I’m going to ask a different question and mostly about restaurants. So do you have a favorite restaurant here in New Haven?
– So many favorites. I feel like one of the
things that people don’t know about New Haven is it’s
quite a foodie town, and we’ve been lucky that a lot of chefs who have kind of outgrown
the New York City scene have sort of moved up to
the shoreline of New Haven. So one of my favorites is Oak Street Table & Bar on State Street. It’s one of my favorites. Lots of small plates,
lots of craft cocktails, and a great atmosphere. It’s very family oriented, so
that’s one of my favorites. What about you? – Oh, my goodness. So I just found this little place, and it’s probably been there for a lot longer than I’ve known, it’s called Kuro Shiro, and it’s kind of a combination
of Japanese and Korean food, ramen, and lots of small
treats, so it’s very good. – Yeah, very global cuisine
in New Haven. (chuckles) – Absolutely. Also for those of you who
are traveling from far away or may have very tight schedules in terms of consulting travel
or other business travel, we do offer what’s called
the Extended Classroom. This is an opportunity for you to essentially zoom in to the classes. We have state-of-the-art
technology throughout our courses. And if you’re looking
at the slide right now, you can see that our
students are participating. They’re typically in a
very non-distracted setting where they’re able to
focus upon their classes. And the expectation is that
you are present and available throughout the course time. This is only offered and has some very
specific policies in place so that you’re able to zoom
in on one weekend per month, but it cannot be
consecutive class weekends and you have to sign up in
advance because we have a limit to eight to 10 students per class weekend. And actually most of our students
want to be here on campus and so this comes in handy
when weather is bad getting to New Haven.
– Sometimes that happens. – Yeah, it happens. And so we just want to
offer some flexibility within your schedule and also
for travel accommodations. So we’re going to give
you a couple of overviews of what your experience
might look like as a whole. This one is meant to
serve in terms of timing. So your learning journey, what you’ll notice is that
the area of focus colloquium will happen throughout the two years, along with building leadership skills throughout the curriculum that’s embedded in the integrated core and some of the personal
and professional workshops will also add to that. So the pre-work is essentially
going to take place before you actually set foot on campus. So from the moment that you enroll, you are assigned a couple
of different modules to go through that will help to prime you for the classes that you’ll take in the Orientation to Management. The Orientation to Management, you’ll take four different classes, those are going to be the
Basics of Accounting, Economics, Probability and Stats, and
Managing Groups and Teams. That happens within your
two weeks in residence at the start of the program. During your first year you
will basically go through the entire integrated core curriculum with the exception of the executive, and Joanne will speak
more to this shortly. And then lastly, in
June of your first year you will have an opportunity
to take the Global Network trip to one of our Global Network schools. You’ll know more about this later on. And then in your second year we cross into the area
of focus curriculum. For those of you who are new, we offer three very
distinct areas of focus, that would be in healthcare, asset management, and sustainability. After those courses, you
will have the opportunity to take advanced management courses, and there’s some flexibility
with the self-directed study. And as a culminating project
you’ll have the executive which takes place in July of your second, or actually at the very
end of your second year. So here’s another representation of how the curriculum looks. Can you share a little bit more about what we might want to takeaway from the academics?
– Sure. Yeah, what I like about this
slide, it kind of chunks it up to show you how much time you might spend in each of these areas of the curriculum. So really a lot of your curriculum is going to be our
integrated core curriculum. This is really unique to Yale. It’s the same core curriculum as our first-year MBA
students take as well. What’s great about this is
that it’s perspectives-based, and we’ll talk about this in a moment. But you’re really going to
get a lot out of this course in terms of how you think
about your stakeholders. The other things to highlight here that Maria did already, too, but the colloquium speaker series is really across the two years as is any leadership development
that you’re going to do. And then you can see how the area of focus takes a big chunk of that
time in your second year, but you’re really also focusing on those advanced management classes which build upon the
integrated core curriculum, and bring it to a deeper level offering some flexibility
in there as well. So this is just a nice sort of colorful visual representation. And diving more deeply
into the core curriculum, what does this mean? What are the classes
that I’ll have to take? This is it. These are the actual names of the courses that you would take. And as you can see the emphasis
here is on the stakeholder. So rather than siloing
our first-year classes or our core curriculum into
specific areas like marketing or accounting, which you still
have to take, or operations, instead what we think about is how do all of these stakeholders
impact you as a leader? What do you need to know to be empathetic and understand the viewpoint
of all of these stakeholders, so that when you are at the top leading at the very highest levels, you’re taking into account
all of these perspectives to make educated, wise, and
strong decisions as a leader. It culminates in The Executive, so there’s a reason
why this one is biggest and it’s in the middle, taking all that you’ve learned
across the core curriculum over the year, you’ll end
your time talking about what it is like to then
finally be at the top. What are the things you
need to think about? What are the things
that, some case studies that you’ll have to kind of work through thinking about being
at that highest level. It’s really tough to be there, and so this class is really
going to give you some skills about how to take on some of
those really big challenges that our executives, we know, have to face on a day-to-day basis. Bringing one of these classes out and talking about what it
means to be integrated, Sourcing and Managing
Funds is a great example. So when we talk about
an integrated curriculum we talk about each class bringing
in different disciplines, and so each class in and of itself is quite interdisciplinary, so Sourcing and Managing
Funds will bring in expertise including professors and
team teaching from the areas that most obviously
affect a class like this, like finance, strategy,
competition, and accounting. And I think what’s great about our faculty is they know when they’re
not the smartest person in the building on a topic, and so they use their resources of their other faculty
colleagues in the building and bring them in to teach the classes on the topics that make
most sense to do so. So you’ve always really got
the smartest person in the room teaching you at any given time based on their area of expertise. – Thank you, Joanne.
– You’re welcome. – So thinking about each of the different
distinctive focus areas as complementary in another very unique, I guess, offering of our
program is the focus area. So here we have healthcare, this is actually a photo from the largest student-run
healthcare conference hosted here at Yale School of Management. It is in collaboration with
the School of Public Health, School of Nursing, School of Medicine, and I’ll give you a
date, April 17th, 2020, is when the next one will be held. So if you can look for that online, take a look and see. We have plenty of our
students help coordinate, and many of our alumni come back and sit on panels or service moderators. So in terms of really
experts in their field, this is the curriculum for
the healthcare focus area. It is curated by our
other fearless leader, Dr. Howie Forman, who is the cofounder of the MBA for Executives. When this program originally started, it started with the focus on healthcare, and the primary reason being that so many providers,
physicians, clinicians, were moving into administrative roles within their organizations,
and there was a strong need to provide them with. Within their organizations. So what you see here is a
subset of those courses. Dr. Forman also is an
attending radiologist at Yale New Haven. He has multiple appointments across Yale. And he teaches also Healthcare Policy, Finance and Economics. He teaches that here and I think he also teaches
that at Yale College. We have a new class which is called Population
Health & Health Equity. It’s taught by Dr. Marcella Nunez-Smith. She is also the director of
the Center for Equity Research at Yale which is positioned, I believe, in the School of Public Health. And she also is the faculty director for the Pozen-Commonwealth
Fund fellowship (laughs) which is a new fellowship
that’s offered here at Yale School of Management with the MBA for Executives program. And it’s for those physicians, clinicians who are essentially serving
in vulnerable populations or those who have demonstrated commitment to issues of health equity. So we hope that you would look into that if that seems to fit your
background and interest. But these courses have come together from a wide range of perspectives. And part of the reason that
these courses were selected is because they wouldn’t be duplicative of those that you might have learned if you have a master’s in public health. They’re meant to really
focus on the organization, and the leadership gained,
and what you need to know as a leader within the
healthcare industry. So we’re very excited
about this curriculum. Hope that you can come and
sit in on a class one day. So to give you some perspective around the types of
students that are here, our role as an admissions
team is really to ensure that we have as much
diversity within the class. We know that that leads
to more innovation, more thought leadership, and really some excellent collaboration. And so what you’ll see by looking at some of these profiles is just that. So Dr. Charles Powell is the CEO of Mount Sinai Jewish Health
Respiratory Institute. He came in really already in that position and wanted to ensure that he actually knew all of the smaller details and really built his business acumen. And I say this because in the
first few weeks of classes he came to me with just
an insight that he had that he was able to implement immediately within his organization. So he just recently graduated. Lin Xie, class of ’20. She is at Merck. She is a scientist through and through, and she really is helping
to serve as somebody who works to the commercialization
of new technologies and I think is also working on
AI within the pharmaceutical. So this is another
background that’s different. And then Crystal Yates is a
Pozen-Commonwealth Fund fellow. She is class of ’21. And she serves as the deputy commissioner for the EMS System in Philadelphia. I believe she manages
like over 2,500 people and is quite a leader in her space. She works primarily in
partnership with the city and the state to ensure
that medical services, emergency medical services
are available throughout. And so let’s see who else we have here. So as we move on. Oh, actually would you like to add anything about the healthcare? – I think it’s just like you said so important to bring in
different perspectives. So we’ve got a number of practicing physicians which is great. We’ve got folks in the med care
or the medical device field. We’ve got dentists. We’ve got pharmacists. We’ve got those that are thinking about insurance and nonprofit healthcare. And I think when I’ve
talked to our students, what’s so interesting is
finally getting people in the room together, who are otherwise sort of
maybe natural enemies in a way, and really finally seeing
from people that they like, respect, and go to school with,
the other side of the coin and allowing them to come together on some levels of
understanding that might change the nature of the healthcare
industry in general, not to be too dramatic about it, but certainly for those
folks on an individual level bringing that back to work everyday, and I think that’s the
importance of having a really diverse group even
within the healthcare space which could potentially
be a little homogeneous. It’s really not.
– Mm-hmm, yeah, thank you. – Mm-hmm. – So the building that you’re
looking at now is Kroon Hall at the Yale School of Forestry
and Environmental Studies. It is probably the most
sustainable (chuckles) building at Yale, actually I think it is. And it was certified as LEED
platinum in 2010 at some point. And so this is really,
it’s meant to really, I guess it is the conceptual design of what the school’s values are. And so we partner quite a bit with the School of Forestry and
Environmental Studies in that we work with the Center for
Business and the Environment, that is really the collaboration between Yale School of Management and Yale School of Forestry
and Environmental Studies. Our faculty director Todd
Cort serves as a co-director, and is really able to bring
in fantastic speakers, develop workshops, and make
sure that there are resources for students who really
care about that connection and the intersection between the two. One of our colleagues used to say that rainbows might actually
shoot out of this building, (laughs) so I’ve always
appreciated that thought. – Really? – Yeah. So when we think about the
curriculum for sustainability, we are really focused on climate change and
environmental impact. While there are so many
different ways to think about it when we think about environment, social, and also governance, and ESG work that’s happening
in the financial sector, those pieces are actually
very much practiced within some of this curriculum. So if you look at, let’s just take the Theory & Practice of
Sustainable Investing, that class is really going to focus on ESG and figure out how
people are actually being good stewards of their capital, but also in ways that are
going to impact the climate or organizations to have
less of a carbon footprint. So all of those in there. And I’m actually going to read because I don’t want to
necessarily miss out on this one. In the second, first row,
middle is Marian Chertow. She’s the associate professor of industrial environmental management. She’s the director of the
program on solid waste policy. And the director of the industrial environmental
management program at the School of Forestry
and Environmental Studies. She is also a graduate of
Yale School of Management, and holds the degree, the master’s in public
and private management. And she’s also a Yale PhD from the School of Forestry
and Environmental Studies. So she co-teaches with Dan Esty who is the Hillhouse Professor of
Environmental Law and Policy. And he is at the Yale School of Law, and also a graduate of
the Yale School of Law. So the two of them combined teach this class on Corporate
Environmental Management. You can imagine how policy and regulation really are an important part
of leading organizations and figuring out how
organizations might need to shift in order to really meet
some of the UN’s standards. So I referenced the two of them because here’s the exact mix of how well we’re able to utilize resources
all across Yale University so that we have those expert faculty. And here are a couple of
profiles of our students. Again, we’ll always mention
the diversity of experience and the different perspectives that people are coming in with. So Anna Williams graduated this last year. She works at Shell Oil
Company out of Houston as a lead procurement manager. I think that Yale for her
was really an opportunity to dive deeper into an area. And coming from the oil,
and gas, and energy sector certainly thinking about how quickly times will need to continue to
change in order to meet some of those sustainability
metrics with the UN. And then also Decio da Silva Nascimento. He works for a hedge fund,
and actually is in this, so you might think we have another asset management curriculum, like why did he choose sustainability? His goal is to be the best
steward of those assets and to make sure that he’s investing in environmentally-sound decisions. So that’s why he chose sustainability to dig a bit deeper on that front. And then more and more we
are seeing more leadership within organizations with true
director of sustainability or director of corporate
social responsibility, those titles are coming through throughout so many industries and organizations. So Sami Ghazi who was
the right-hand person to one of our esteemed alum at PepsiCo, and is now serving as the director in the office of sustainability. So consumer goods, we
see a lot of students coming in from consumer
goods, from energy, and also those with
backgrounds in engineering, civil engineering, and the like. What would you say about the students that you see come through or
the sustainability program? – I think what we’re looking for is a commonality of folks
who care about this stuff. So while your job titles here are maybe quite different
from one another, they all share a deep interest in and responsibility for
kind of leaving the planet a slightly better place than they found it through their organizations
and as business leaders. So I think regardless of industry, it can be a pretty broad stroke that we think about sustainability, but they all sort of bring
that commonality together which is thinking about
leading responsibly. And in a couple of different ways. We talk about financial responsibility, operational responsibility,
environmental responsibility, but these folks all have that commonality that’s deep-seated in
what they care about. – Yeah, absolutely. And it’s a nice combination because if we go back to the mission, it’s very much aligned there.
– Agreed. – So here’s a photo that’s
maybe a few years out. This is Timothy Geithner, the
former secretary of treasury during the Obama, I think
it was like 2009 to 2013. And he was able to teach in an elective. And so while you may not be able to take the same class with him, this is just a highlight
that we are able to draw upon so many faculty from
outside the university who will come in and teach
courses that are very relevant. So the global financial
crisis is a big one. I think we’re still focused on that. And I would say that our
asset management focus area really comes from the wish to create excellent stewardship
with other’s capital is kind of a baseline, but there’s so much more to be gained through having those who are coming in with a financial background
and taking this curriculum. So I’ll share with you what
the curriculum might look like. And also to highlight, our
faculty director Will Goetzmann who is in the second column in the middle, he teaches Investing in Asset Classes. Will Goetzmann is a Yale
man through and through. He was an undergrad here all
the way through to his PhD. He’s done some really interesting research on art as an asset class,
and as it relates to gender. So we’ve had some of
our students participate in that research which has
been really nice as well. If I were to take a step back and talk about this curriculum as a whole, I would say it’s one-part
theory and one-part practice. So if you look at a course
like Behavioral Finance which is taught by Nick Barberis who is a leader in the
intersection between cognitive psychology and
financial decision making. And so he teaches this course on how to, at the end of the day, how
are you making a decision around investing and trading? And how are those nuances then
considered ethical, right? And so there might be some
crossover with other courses like State and Society, which is in the integrated core curriculum and some of the advanced
management courses which I’ll share with you later. But that’s really a
broad theoretical course. Some of the more applicable courses are going to be Investment Management or Investing in Alternative Asset
Classes with Will Goetzmann. In those you’ll have practical application that you can take directly to your seats and roles in organizations. So a couple of students
here just to go over. So Daniel Coutinho, recent graduate. He’s originally from the Comoros Island. He works for the World Bank. And I think he has some
tie into health state and kind of like the state is working with the financial sector, and I’m not doing a great
job of describing his role, but I know that this is something that has really been of interest to him and has really served him
well at the World Bank. Isil, who is in her second year. Oh my goodness. She had a big transition. More recently, she was living in Boston working at State Street as a
VP for risk and compliance. And now took on a new role as director, enterprise risk
assessment for Santander, and moved all the way to Dallas. So she’s traveling, making
the commute now. (chuckles) And then lastly, Renee who
is one of four women veterans that we have in the program. She started, I think she studied Korean as a military intelligence officer and has a tremendous academic background. And is now doing trading at Goldman Sachs. I think her role prior to
that was she was in a role where she wasn’t doing the trading and really wanted to move into that because she felt it was challenging and she wanted to get involved. And so she is moving lots of money around (laughs) within seconds. So it’s really great
to have her perspective in the course as well. But again, Joanne, I love
hearing what you have to say about the students who come through. And so what do you see about those who are interested
in asset management, those particularly who are
sitting in the classroom? – I think those who come in and are most at the best
fit for this program are those who have that
experience in finance. I think it’s difficult when somebody might want to come in
because they’re interested in learning these things, and the one thing we can’t do is let you do more than one area of focus. And while you could
potentially watch those classes later on when they’re recorded, for this we really are
looking for folks who have a deep-seated knowledge in finance, and particularly when
possible in investments, and doing the work or supporting
those who do that work. So I think the area is broadly diverse, and at the same time
again the commonality here is the strong background in finance. To be able to keep up, it’s
a quick-paced area of focus and the curriculum moves quickly. – Yeah, absolutely. So lastly, to round out the curriculum that you would take during your two years. These are the advanced management courses. So while our program is
incredibly structured, we have offered a few electives. So you get a choice between Financial Reporting,
Entrepreneurship & New Ventures; Managerial Controls, Policy Design; Marketing Strategy or Legal
Context of Management. And those you would
take with other students who are also in the second year. And then everybody in the second year comes together for Business Ethics, Designing & Leading Organizations, Corporate Finance, and
Competitive Strategy. And what I want to share with you in terms of the leadership development that we talked about early on, the Managing Groups and Teams, the Designing and Leading Organizations is kind of the secondary course to that. And as I mentioned before, Business Ethics will be
something that is taught throughout the integrated core curriculum. This is a course that comes through and has that as a primary focus. And I guess something else
that’s kind of a fun fact is that the courses that are offered in the advanced management are actually the most requested
courses for the full-time, and so it really was pulling the best of the electives together to really create this
advanced management portfolio. And so, Joanne, can you please tell us about the Global Network? What is this trip we’ve
been talking about? – So the Global Network
for Advanced Management, we call it GNAM for short, is an opportunity for top business schools in the entire world to come together and share resources and classes. We don’t want our MBAs
to be left out of that, and so what we’ve done is
offered an opportunity in June right before the second year
for students to take a trip and to really think about
business outside of the U.S., and think about sort of expanding their global horizons a little bit. And so we have 30 schools that participate in the Global Network, and about half of those have MBA programs, so the great thing is
that we are exchanging with other MBA programs, so you’re at your peer
level which is terrific. And you’re not going to
go to a Global Network like with a bunch of Yale people, you’re going to go with a few. The rest of those that round
out your class for the week will be students who are coming from other Global Network schools. So right away you are
expanding your borders and expanding your network
internationally just by virtue doing this one required
trip in the MBA program. So we’re looking forward to
see what you’re interested in. Students have gone to
Cape Town, South Africa; Seoul, Korea; they’ve gone to the Smurfit School of
Business, which is in Ireland. You’ll probably get your top choice, if not one of your top
two or three choices. But I mean, I don’t even know how you would choose to begin with. They’re such interesting courses and such interesting places to go, and so we look forward to seeing
what you’re going to choose. But that’ll happen in June,
right before the second year. – Yeah, and just to add
to that a little bit. Many of our students come
back from those trips and even though they’ve
been sitting in a classroom with 75 of their peers, they always come back
saying how much closer – Yeah, that’s true.
– they’ve become to the students that have
also traveled with them. So that’s always nice in terms of thinking about the network and the relationship building
that’s happening throughout. – So part of your second
year is also going to include what we call a self-directed study. So while, as Maria keeps saying, this is a pretty structured curriculum, here’s your opportunity to get creative. You may want to fill those
requirements, those credits with doing something faculty oriented. So perhaps there’s a professor whose research you’ve really admired or a topic that you think
you would like to delve a little bit more deeply into to help you do your job better. You could find a faculty
member who might be willing to sort of sponsor your work
on this research project and work one-on-one with that person. So that’s one option. Perhaps you’re an entrepreneur. Somebody who has an idea for a business or perhaps you’ve already started one. You could potentially
use the resources here through the entrepreneurship practicum with our fearless leader
there, Kyle Jensen. And use what we have here through the Yale SOM Entrepreneurship Program as well as what’s widely
available at Yale University. You never know. You may find yourself matching up with one of your classmates and creating something totally brand new, and that would be a great way to use that opportunity as well. You may also instead take some Thursday evening
electives or other electives. Thursday evening electives
are specifically curated for our MBA students who
may come in a tiny bit early in advance of classes on Friday. We’ve curated a list of
classes each semester that students can take part in. It’s MBA students, but if there are a few
leftover seats in the class, we may offer those out
to other full-time MBA or other master’s students as well. So again, this, for timing
purposes, can work really well for our travelers who may want
to come in a little early. And then finally going
back to the Global Network, you might want to take this
funny word called a SNOC, a small network online course which makes use of the
Global Network’s resources of faculty to bring
together people from, again, all over the network to take
this online but live class. So this is not sort of that MOOC class where you’ll sort of chime
in when you feel like it, this is happening live and in person, and you are all beaming
in at the same time. That faculty member could be anywhere, but you are all brought
together at the same time to take that class in a virtual setting. And this really teaches
you how to do business across time zones, language barriers, and all the other things
that get in the way of us doing business globally
and virtually at that. So these are some options
that you can think about for your self-directed study, and as you can see it allows you some creativity in the curriculum. We talked a bit before
about being a Yale person. While you’re here, you are
a student at the university, and we want you to get to know it. And so on Friday nights we’ll offer all sorts of opportunities for fun and to get to know the
place a little bit better. Maybe it’s a tailgating party. Maybe it’s a hockey game which can be really fun to go watch. Perhaps you’ll get to know one of our libraries a little bit better, which may sound like a
drag on a Friday night, but is a really great thing to do to get to know what
resources are here at Yale. Perhaps they’ll take you
on a tour of Harkness Tower where you can actually
hear the bells being rung and learn how to ring them yourself. They’ve gone to the planetarium. They’ve gone to the medical museum to see some really strange things. And it’s just a really great
way to bond, of course, with your classmates on Friday night and to get you a little
bit more integrated into being a Yale student and
a part of our community here. On Saturdays, it doesn’t
end yet, so these. Will offer some really
great optional workshops. Recently this guy, Marc
Brackett, just wrote a great book and was featured on the “Today Show.” And he is the founder of the Center for Emotional
Intelligence here at Yale, and talking about
feelings even in business and how we can deal with them and use them for our
own purposes for good. Zoe Chance who teaches career development workshops,
negotiation workshops. And then finally, Grace Zandarski who’s coming over from
the Yale School of Drama, and if you can’t make the connection, totally understandable,
but think about it, this is somebody who teaches
people how to present, how to be on stage, and how to find the best
of what you have in you to get up in front of
large groups of people, which as a leader you’ll have to do, and make you the most
of your own strengths and resources to command a room and have a presence in front
of large groups of people. And so absolutely it makes sense that an acting teacher
would come over here and teach you how to do that. So those are our Saturday
Workshops, optional, but they’re almost
always kind of sold out. – Yeah, great. – And then finally,
hopefully what you’re getting from all of this is a sense
of our community here. And it is what we call
a community of purpose. We have students coming
from all over the U.S., and even beyond sometimes,
united by our mission and united in their areas of focus for what they want to do
with their Yale MBA education and what they’ve come to learn so far. And what we’re hoping
to do is create, again, educate leadership business and society in those who are thinking
a little bit more broadly and have a strong sense of
purpose about what they do. We also have a really good time, and the bonds I think that you’ll form and the network that you’ll
create once you’re here is an important part
of the process as well. And hopefully 22 months later you’ll be in one of these caps and gowns and can call yourself a Yale alum. – Oh, I always like when
you talk about that (laughs) community of purpose.
– ‘Cause it’s fun – It’s so inspiring.
– A little chilling, right? – So who are our students? So Joanne mentioned the
community of purpose. We are seeking those who
are experienced leaders. So mid-career senior and mid-management. We ask that you have at least
five years of experience before even considering an application. Our average is about 13
years of experience overall. And we’re looking for
demonstrated career evolution, so where are you at currently and how far did you come to get there? What are the responsibilities and the roles that you’ve taken on? Are you managing large projects,
a large number of people? Are you managing a large amount of funding as an asset manager? And so thinking about what evolution has, where your life has taken
you through your career. And most of the students, I think, when you speak
about community of purpose, they are seeking to expand and really grow their own capacity. And sometimes that means acceleration, so moving them forward within their role or having access to more opportunities, more resources, more networks
to really connect in. So this is typically what
people are looking for. It’s definitely certainly
people who were interested in identifying the top candidates. And so Joanne, I’d love to hear more about the class of 2021. – Yeah, to put a finer point
on it, this is our class. 74 incredibly talented individuals
who joined us this July. The group is, let’s see, they were just here this past weekend, and so they’re in the
thick of it right now. We were lucky enough to get
applications from, of course, a number of students who are
seeking to do their MBA here. And so the group this
year is pretty diverse. I think it almost always is, but in this case it’s a
really interesting class. And they’re coming to us
at about 37 years of age with about 13 years of work experience. Thankfully we are 36% women. We’re always looking to move
the needle on that number, but we’re really grateful to have so many talented women in our class. About 41 or so percent who have already done a master’s elsewhere and are bringing, again, that
level of talent to us here. And then finally, those
a pretty diverse group about where they’re from,
what their backgrounds are, almost all maybe are working
in the U.S. at this point, but really coming from
broad personal backgrounds that add a rich layer of texture and diversity to the class that makes our conversations
always interesting. – And so here we’re at the point where we have about–
– Yeah, tell us how we get in. – So we have about the next five minutes, so our hope is to get
through the admissions and answer a couple of questions for you. So this is our overall admissions process. So the first thing is you’ll
submit the application by the round deadline. We do not start reading
until your application is fully submitted and by that deadline, in which I’ll talk about and give you some details there later. And then your application will be reviewed by a pretty well-rounded
admissions committee. And then after that if it is advanced, you’ll be invited to interview. And then after the interview days, you will, all of that data
that’s been collected, your application, the interview,
that will be taken again back to the admissions
committee for another review, and then you’ll be awarded
your final decision. So that’s kind of it in a nutshell. And what that actually
looks like if we talk about the application components is
the first step in all of this is really opening up an application. The application is online,
it’s very streamlined, and so all of the
instructions and information will be embedded within the application. So as you’re going through, please read some of the instructions. If you have questions that
are a little bit more nuanced, please feel free to reach out to us. But ultimately we are asking
for a resume, two essays, a couple letters of
recommendation, test scores, and transcripts, your employer approval, which I mentioned at the very beginning in terms of getting in
touch with the stakeholders that you know within your organization that would be in favor of you doing this, making sure that you’re
in touch with them, there is an application fee, and then of course the
invitation will come to interview after the application
has been fully submitted and read by the committee. So I went over those really quite briefly ’cause we’ve had some questions come in that would be addressed here. I’d also want you to
notice the round deadlines. Our first round is going
to be due October 30th. So if you are planning to apply for that and you have yet had a
conversation with us, I would certainly please fill
out a pre-assessment form or shoot us an email,
we’re happy to discuss more information about the application. So, Joanne.
– Yes. – I have questions.
– Shoot. – And so the first one
is there any preference between like the executive assessment or the GMAT, GRE in terms of testing? – I don’t know if we have a preference. I will say if you haven’t
taken a test at all or haven’t taken one in a long time, we would definitely
push you towards the EA. The reason for that is ’cause
that test was developed specifically with executive
MBA candidates in mind, and really sort of tests
you on the skillset that we and the testing
agency, GMAC, has determined that will allow you to be most successful in an executive MBA program specifically. It’s also beneficially for
you a whole lot shorter. Takes a lot less preparation time. And we really believe in the validity and the outcomes of this exam. It’s been piloted by several
top business schools. We’ve now taken it for the last two years. I’d say about 75% of the students in the class we just talked about took the executive assessment. So it’s really up to you. I think the reason that you
might not want to take the EA is if there is a school
you’re planning to apply to who is not yet on the EA train, then that might be a reason
to take the GMAT instead. Or if there’s multiple programs that you might be thinking about that would require a GRE instead. So if that’s the case for
you, you’ll definitely want to sort of kill as many birds
as you can with one stone. If you’re just thinking about executive MBA programs specifically, make sure each one of
them will take the EA, and then I’d say probably
look into that one. There’s some great test-prep
materials on their website. We have a fantastic webinar
recorded on our website that we did with our
representative from GMAC who goes over the reason the
program exists to begin with, and the test exists, and then
a little bit about admissions and how it fits here at SOM. So again, no real preference, but if you haven’t taken
anything in a long time, and you’re new to testing,
I’d go with the EA. – So another question related,
and then we’ll switch gears into student life experience questions. So there’s a question about
GPA, like what GPA is needed. – Yeah, good question. I get that question a lot.
– I do, too. And it’s a confusing
one because every school sort of does GPAs differently. Some schools don’t have GPAs, some do it on a letter grade system, some do it on a numbers. We have international students who have very different grading scales. And so for us, just give us what you have. Don’t try to convert your GPA, just trust in the admissions
process and the staff here, we know what we’re doing. When we see a GPA, it’s helpful to understand
the context it’s coming from, so the more information you can give us about your transcript
including a key that explains how grades after offered at your school, but trust in us. We’ve seen enough of these
transcripts over the years that we’re definitely able
to figure out how you did. And that’s really the most
important question to answer is are you capable of handling the work at a graduate MBA level
at a place like Yale? And part of the evidence for that will be how you’ve done in the past in combination with some more
recent measures of success including the executive
assessment or GMAT as well. So give us everything that you have. You can upload unofficial
transcripts to start, and then we’ll ask for official ones later on down the line if you’re admitted and enroll in the program. – Thank you, Joanne.
– You’re welcome. – So we only have a minute left. I’m going to try to answer
two questions at once. And then I want you to know
that we’re going to have an applications tip
webinar, I think October 10? – 8th.
– 8th, October 8th. And so please chime in there
and definitely tune in there. And so the question is what is a typical
workload outside of class, and also do most students
need to stay at a hotel on the Friday, Saturday weekend? So the workload is it depends. It might be 10 hours one week and 40 or 50 hours another week. So we say that the average is about 20 to 30 on any given week. There are times where you will have a number of deliverables all due, but you’re basically
put into learning groups and learning teams which are
able to help shift those. In terms of staying at the hotel, we do require that you stay at the hotel at least through your first semester, and then there are some
options to opt out of that. We find that most people decide to stay unless they’re incredibly local, within a quick driving distance. So that really concludes
our webinar today. If you’d like to learn more, please feel free to send us an email. We can also, we’d love to have
you join us here on campus for an information session. Our next one will be October
5th, which is a Saturday. And then we also are in
Boston, New York, and D.C. in the next few weeks. Would love to meet with you there as well. If you have any questions,
please shoot us an email to [email protected] It has been an absolute pleasure. Thank you so much for joining
us in the middle of your day. For those of you on the West
Coast, bright and early. And thanks to the team here. Have a great afternoon.