What types of opportunities are available to students via the Wharton Entrepreneurial Programs?
There are a lot. Two of our most notable opportunities are our annual Business Plan Competition and Small Business Development Center (SBDC). The Business Plan Competition awards more than $40,000 in cash to winning student teams that present the best ideas for new ventures. Finalists present their plans to a panel of distinguished judges. Students are exposed to angel investors, venture capitalists, Wharton alumni, entrepreneurs, and others. Recent winners have been recognized in a ceremony marked by the ringing of the bell at the NASDAQ.
The SBDC hires MBA students to consult with and train Philadelphia-area entrepreneurs and small business owners. Students help local firms to craft business plans, manage expansion strategies, and raise capital.
Other opportunities include our Venture Initiation Program (VIP), which supports and prepares students to start their own enterprises, as well as the Entrepreneur-in-Residence Program, which allows students to meet one-on-one with successful entrepreneurs.
Can you provide more details on what international opportunities are available?
The opportunities are too numerous to mention them all. One interesting opportunity is the Global Consulting Practicum (GCP). Through GCP students engage in consulting projects with a foreign company or other entity. We've done projects in Israel, Latin America, Europe and Asia. Students gain some real hands-on experience, where they apply the skills they've learned in the core to some of the companies.
The Global Immersion Program (GIP) is another incredibly popular program. We have 200 to 300 students a year enroll in GIP. For six weeks in the spring semester, typically during the first year, students study a particular region – its economic system, political environment, cultural do's and don'ts – and then visit that region for a month, where they meet representatives of key industries, meet with alumni, and enjoy cultural and social activities, returning in time for a summer internship.
We also have 13 exchange programs with leading business schools around the world such as the London Business School, INSEAD,
the Stockholm School of Economics, and IESE in Barcelona. Career opportunities, whether they are internships or full-time employment after graduation, also span the globe –
as evidenced by the School's 82 alumni clubs worldwide.
How are the first-year learning teams selected?
First year learning teams are selected randomly in order to maximize learning opportunities. Each team of five or six members includes individuals from a diversity of academic backgrounds, professional experience, citizenship, and gender, in order to maximize learning. All teams work with a second-year student who is a Leadership Fellow and a professor to learn techniques for effectively managing a team and resolving any conflicts that occur.
What are some of the attractions of going to school in Philadelphia?
Philadelphia was recently named as "the next great American city" by National Geographic Travel – a surprising find for students who are not from the area. Perhaps most striking is the city's neighborhood feel. Even as the sixth largest city in the U.S., Philly has a comfortable small town atmosphere.
Philadelphia is also one of the few larger urban areas in the US in which you can get around without a car –
which is very attractive for international students. The city hosts some wonderful, world-class museums, a rich night life, and an exceptional symphony orchestra. In addition, there are many outdoor activities. Boathouse Row, situated in Fairmount Park along the River, features rowing events. On any given day, one can spot runners, skaters, and walkers along the path that borders the water.
One of the nicest things about Philadelphia is that most of our students come from elsewhere. Students explore the city together, unlike some MBA programs where a number of admitted students are local and already have an established life, a set of friends and a network and are not as likely to become involved in student life.
How was the 2005-2006 admissions season for Wharton?
It went very well. We had a great year in terms of geographic representation. We went from having about 63 different countries represented in the program up to 68. We've seen a strong increase in international applications. And the quality of candidates continues as GMAT scores keep increasing and the overall profile of candidates improves.
We also see a lot more diversity in the pipeline, in the sense that we're seeing more early career candidates, people from non-traditional work backgrounds, and underrepresented minorities. While we do continue to see a large representation of applicants from consulting and banking, we're still witnessing more people who come to us from the government and non-profit arenas, whether it be from an international agency like the World Bank or the International Monetary Fund. We also saw a nice increase in women in the class this past year: from 34
per cent up to 36 per cent.
Speaking of those early career candidates, how does Wharton view people with zero to three years of working experience?
We very much welcome early career candidates. We have found that there are some people who, early on in their professional development, have a very strong career focus and sense of what an MBA could do for them. There are some exceptionally talented, motivated early career folks who apply to the program who we admit each year.
For those early career candidate who are not admitted – it's typically not because of their lack of work experience, but because they have not had or made the time to sit back and think about an MBA, reflect on who they are and where they want to be in the future. Those individuals who seriously explore the degree and pursue the rather arduous task of self reflection fare well in the admissions process.
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