No time to relax.....

How can both stock market and unemployment rate keep going up? It doesn't make sense to me at least...

2009-10-27T08:36:00.001-04:00

Last month the national unemployment average rose to 9.8%. It’s actually at 17% if you count distressed and underemployed workers. Not only is unemployment data weak, it’s getting worse. Former Fed Chairman Alan Greenspan said unemployment would hit at least 10% before turning back.

Even with this well-known data, the market is going up. The S&P 500 is sporting a mostly gentle uptrend from March to October. The market thinks we’re recovering. Bernanke and company have said as much. However, given that, we have the toughest job market in a generation, to me it seems a little premature to declare recovery – at least a strong one.

I’m not alone in my assessment. CNNMoney.com’s Editor At Large Paul LaMonica recently said, “Repeat after us. There is no strong recovery without job growth. There is no strong recovery without job growth. Why does Wall Street not get that?”

A good question. Why is the market going up while jobs are going down?

It makes even less sense when you consider the nature of unemployment. It goes back to demand. When companies experience demand for their products and services, they will seek to meet that demand. If meeting that demand requires more labor, they will hire. If companies hire, then unemployment goes down. People return to Starbucks to order their Double Skinny Lattes.

But that’s not what is happening. Instead, companies are cutting jobs. Why does the market go up while this is happening?

To this humble market observer, it seems that most of the buying pressure is coming from earnings. Quarterly profits have been good, often better than expected, primarily driven from falling operating expenses. Operating expenses are falling because many large companies are cutting jobs. There are other factors, but job cuts are definitely helping the bottom line.

In recent days, Sun Microsystems (JAVA), The New York Times (NYT), Dell (DELL), St. Jude Medical (STJ) all shed jobs to stabilize their businesses. And these companies aren’t even banks. We just crossed the 100 barrier for failed banks in the US this year. I’m not sure where all those employees have gone, but they aren’t helping keep unemployment rolls under 10%.

Despite the slumping jobs market and rising stock market, I am often reminded of economist John Maynard Keynes’ aphorism. “The market can stay irrational longer than you can solvent.” This may be one of those times.

The Implications of Insider Trading in Hedge Fund Land

2009-10-18T12:29:00.001-04:00

The arrest of hedge fund millionaire, Raj Rajaratnam, on charges that he and his $7 billion Galleon Group hedge fund profited from illegal insider trading will no doubt feed suspicion in some corners about the way hedge funds generate fat profits. But for anyone to assume that all hedge fund managers owe their success to getting information on the sly is unfair and wrong. The overwhelming majority of hedge funds are only as good as the quality of the research performed by their analysts and traders.

And the truth is the vast majority of hedge funds are rather ordinary. If the majority of hedge funds managers were so crafty, not so many funds would have gone bust last year–or lost bundles of money for their wealthy investors. The true standouts in the industry are a real minority. Anyone can put together an offering statement, call themselves a hedge fund manager and go out and raise money. That’s one reason why wealthy people and pension funds who throw money blindly at hedge funds without doing adequate due diligence are being plain foolish.

Still, the charges against Mr. Rajaratnam and five co-defendants are disturbing. Hubris and greed are powerful motivators. And some hedge funds will stretch, even break the rules to get an edge–even if it’s to book just another $20 million for a fund with nearly $7 billion in assets. Indeed, it’s worth noting that this isn’t the first time Galleon has been accused of skirting the rules to get an edge.

In 2005, Galleon paid an $800,000 fine to the SEC to settle a civil investigation into allegations it improperly profited from shorting 17 stocks. The SEC alleged the hedge fund violated securities rules by using shares obtained in a secondary offering to cover, or close out, a pre-existing short position on a stock. Regulators claimed that impermissible strategy called “collapsing the box” essentially was a risk-less one and generated $1 million in trading profits for Galleon. Maybe the 2005 settlement put Galleon on a watch-list for prosecutors. It appears from the criminal complaint prosecutors began focusing on Galleon and its co-founder in 2006.

In addition, Galleon always has had something of a cowboy culture. Years ago, the fund recruited a former Bank of America (BAC) technology analyst who was fined and suspended by securities regulators because he allegedly issued misleading bullish research reports on stocks he was simultaneously advising hedge funds to sell short.

However, what may be most troubling about this latest case brought by federal authorities in New York is that one of the people allegedly providing illegal tips on leveraged buyouts and other deals was an analyst with Moody’s Investors Services (MCO), the credit rating agency. The alleged tipster got $10,000 for his work.

The allegation about the Moody’s analyst raises serious questions about safeguarding the flow of information from credit rating agencies to traders on Wall Street. We’ve already seen evidence in a civil lawsuit against UBS (UBS) that suggests some at Moody’s may have discussed potential rating changes on CDOs with some Wall Street banks.

Insider trading is a problem that has been around as long as people have traded stocks. And it’s almost impossible to stamp-out insider trading, given the premium someone will put on getting inside information. But aggressive law enforcement, like the kind done in this case, should serve as a deterrent–hopefully.

Courses at Simon Graduate School of Business - University of Rochester.

2009-07-12T13:16:00.005-04:00

Off late, lot of first year students have been approaching me to get some advice on the courses they should take next year. So, I decided to put up a brief post on my blog related to my experience with the courses at Simon Graduate School of Business....But needless to say, these opinions might be biased.....

Following is the list of all the elective courses I took at Simon School of Business (no need to comment on the core courses as you can't do much about it - you need to take them whether you like it or not):

1st Year

=============================

Winter:

Financial Statement Analysis : Awesome course, Prof Wasley is a great professor, a must course for someone looking for a career in investment banking or equity research.

Spring:

Investments : Awesome course, a must course for someone looking for a career in portfolio management, trading or equity research .
Corporate Finance: Again one of the great courses at Simon School, Prof. Smith is a high class professor, he has got his own unique style of teaching, a must course for any finance related job.

2nd Year

=============================

Fall:

Financial Institutions : Awesome course, a quite useful course for someone looking for a career in capital markets especially risk management related jobs. (Unfortunately, because of some job related commitments, I wasn't able to put the efforts I would have liked to in this course...Result - struggled a little during my internship at CIM - CIGNA Investment Management)
Cases in Finance: Again one of the great courses at Simon School, Prof. Jarrel is a high class professor as he also has got his own unique style of teaching. A must course for any Investment Banking or equity research. But I would recommend every Simon School student to take this course as it is just not a course but it is an awesome experience.
Financial Reporting I: I took this course as I wanted to concentrate in Corporate Accounting. Many times during the course, I got frustrated. May be because the other professors had set very high standards and hence expectations. But at this moment, I realize, how valuable that course was. Anyone looking for a career in accounting or equity research, don't miss out this course.
Application of corporate finance in Health care: I took this course as I wanted to learn about health care industry. It turned out to be one of the most useful for course for me as the Professor helped me a lot to prepare for my interviews at CIGNA and Aetna...And even now when I am covering health care industry as an equity research associate, lot of times I refer to his notes..:)

Winter:

Investment Management & Trading Strategy : Again one of the great courses at Simon School. For Professor Burnside what to say - just one fact - he got "Superior Teaching Award" for 2009 - says everything. He also helped me a lot in my job search. This course is a must for anyone looking for a career in Portfolio Management and Trading but anyone interested for any career in finance should take this course.
Pricing Policies : One of the courses you definitely want to take at Simon School. Take a break from finance and accounting course and do take this course...Good Course, great professor.
Futures & Options : Content was good but professor...hmmm..May be didn't suit my style....take this course if you love futures and options and you feel that you would never take initiatives to study about them on your own. Otherwise, I will take a miss.
Advanced Managerial Data Analysis : Professor Schwert is highly regarded in the industry. This is an advance version of GBA - I will call it as GBA III. For anyone interested in market research and analysis or quant related jobs, this course would be extremely helpful.

Spring:

Financial reporting II : I registered for this course to delay my graduation and get my concentration in my corporate accounting. Not compelling enough for me. But I believe, this would be an useful course for someone looking for CPA track.

Some other courses, which I would recommend (though I didn't take them):

International Economics
Macroeconomics - Great Professor and excellent course.

Other than that, on my job front, it is like "Dream come True" and I am enjoying every bit of it. Little hectic but great experience so far.......

Some questions I faced in my job interviews....

2009-06-19T16:43:00.001-04:00

Interview Questions for Equity Research jobs

· Walk me through your resume

· Tell me about yourself.

· Is this your top choice? Why or why not? Why this firm over others?

· Why equity research?

· Why Buy Side / Sell Side?

· Why this firm?

· What are your shot-term / long term goals?

· Pitch a Stock? What do you like about the stock? What you don’t like about the stock? What are the risks associated with this industry and the stocks?

· Do you have any industry focus and why? Views on this industry?

· Talk about your excel modeling skills.

· Talk about your accounting skills.

· What are your views on market efficiency?

· Which valuation approach do you prefer? Advantages and Disadvantages of each of them?

· Which comparable multiples do you prefer? Advantages and Disadvantages of each of them?

· How do you calculate Free Cash Flow to Equity and Free Cash Flow to firm?

· How are three financial statements related to each other?

· What is your opinion about the current economy and where are we heading from here?

Interview Questions for Trading related jobs

· Walk me through your resume

· Tell me about yourself.

· Is this your top choice? Why or why not? Why this firm over others?

· Why Trading?

· Why this firm?

· What are your shot-term / long term goals?

· Talk about some trading strategies you like.

· Talk about your risk taking abilities.

· Which asset classes do you like to trade and why?

· What do you understand by the economics of trading?

· Talk about price impact / best execution / bid-ask spread.

· What is your opinion about the current economy and where are we heading from here?

Interview Questions for Investment Management / Portfolio Management related jobs

· Walk me through your resume

· Tell me about yourself.

· Is this your top choice? Why or why not? Why this firm over others?

· Why Portfolio Management?

· Why this firm?

· What are your shot-term / long term goals?

· Explain sharpe-ratio?

· Pitch a Stock? What do you like about the stock? What you don’t like about the stock? What are the risks associated with this industry and the stocks?

· Talk about your excel modeling skills.

· Talk about your accounting skills.

· Talk about your risk taking abilities.

· What is your opinion about the current economy and where are we heading from here?

· Which sectors would you like to be underweight and which sectors would you like to be overweight in this economy.

Behavioral Questions (more relevant for Corp Fin related jobs)

· Walk me through your resume

· Tell me about yourself.

· Is this your top choice? Why or why not? Why this firm over others?

· What are your shot-term / long term goals?

· Describe a situation in which you faced an ethical challenge in the workplace and how you resolved it.

· Tell about a situation when you persuaded someone to accept your ideas or point of view.

· Provide an example of an unpleasant client situation. How did you handle it? What would you have done differently?

· Describe a situation where you had to work with ambiguity. How did you deal with the situation and what was the result?

· Describe an instance when you had to think on your feet to get yourself out of a difficult situation.

· What was the most challenging or riskiest decision you have made?

· What was your most significant leadership experience?

· How do you respond to an employee who is under performing?

· Tell me about a time when you exhibited initiative.

· Tell me about a time when you were working on multiple projects that had conflicting deadlines.

· In your last performance reviews, what were identified as areas needing improvement?

· Describe your reputation within your last organization.

· What do you do for fun?

What Simon Alumni and other professional contacts have to say?

2009-06-18T20:02:00.001-04:00

In this post, I would like to share few important comments/suggestions from few of my Simon Alum and other professional contacts. These could be equally inspirational and motivational for the others:

=================================================

"Congratulations! That’s great news. Good luck with everything- you’re going to be working very hard…"

"That’s great news. I told you that cream always rises to the top and so I am not surprised by your accomplishment. Congratulations and enjoy. I wish you the best. Please stay in touch."

"Congratulations! I know it's been a tough search, and I'm very happy for you."

"That is great news -- congratulations! Equity research is definitely a good place to be, especially if you are still interested in moving into the healthcare industry at a later time. Sounds like a solid opportunity."

"Congratulations on your job offer. You should be very proud, and I’m sure you’re looking forward to starting your career on the street. Best of luck in your position, and congrats on your graduation as well."

"What a wonderful news!!! I am so happy to hear that you got a full time offer in the financial sector and in a group where you will undoubtedly learn a lot. Definitely keep in touch and lets catch up when you settle down in your new role. You are a testament that with persistence and preparation, the sky is the limit. Keep it up."

"I am very happy for you that you found such a great job in these crazy economic times. Cheers! "

"Congratulations!!! Having gone through your work, it appears that you are more than a few steps beyond what I would expect from a recent graduate. As a research associate, you’ll essentially be working on projects that are devised by decision makers. It will be a great learning experience and it will give you the time to learn your craft without the pressure to provide investment performance. "

"That's great. I know you worked really hard in school and in your job search."

"That is great, many congratulations. You should be very proud of yourself, finding a job in this environment is extremely difficult. Good luck in your new job. Keep in touch."

"This is really good news and considering the current market situation definitely very good. Congratulations and all the best for your new job."

"Congrats and thanks a lot for letting me know. So it seems networking helped you a lot in getting this placement. Keep in touch."

"Congrats! That is great news and sounds like a great opportunity. All the hard work has paid off."

"Congratulations Jailendra! Nice going in a tough market. "

"fabulous news! Congrats to you for your determination and perseverance. It will most definitely serve you well as you embark on your new career. Please do stay in touch."

"Congratulation!!! I'm glad things have worked out. You can be quite proud to have landed something in this environment. "

"Great news. Make sure you keep in touch with me and Simon"

"congratulations that's great news, especially in this environment. Good luck in your new role and stay in touch."

"Congratulations. You are on your way. "

"Congratulations Jailendra. That is awesome news, I always believed you would. You put in a lot of hard work and you really deserve it. "

"Congratulations. We are very proud of you!"

"Congrats! This is great news. All the very best to you. I'm sure you will be a great asset to anyone you work for, as I have myself experienced."

"Jailendra, I am so excited for you!!! It’s especially exciting to see that you have landed a position in the field that you have been seeking. You have worked SO HARD for your opportunity"

"Congratulations on your offer, Jailendra. I am truly happy for you. As a job searcher, you displayed the persistence and tenacity that we know pays off, but during the time when you don't know if you'll land something, the not knowing is excruciating, isn't it? "

"Congratulations!!! That's wonderful news!!! You did all the right things and got rewarded. I'm glad to hear a success story."

"Congratulations! This is fantastic that you had landed such a fine opportunity in such a tough job market. I am really happy for you! Good luck! I am confident that this will be a springboard for further succes. Do keep in touch."

This is a great news! You should be proud of yourself to get the role in this environment. I am sure you will nail it - you are incredible candidate and will do very well. I wish you best of luck!

=================================================

Bottom line is that everyone likes determination and perseverance. All the best.

MBA over with a BANG!!!!

2009-06-18T10:26:00.001-04:00

Here I am...June 18 2009...looking forward to the next Monday, June 22....Whats so special about that day?....why am I so excited about it?...Before I disclose that, lets take a step back as I would like to share whatever has happened since my last post in April 2008.....

I screwed up on my CFA exam last year as I got sick just a week before my exam and 6 hours exam turned out to be a story of lack of revision and lack of concentration. I started with Goldman Sachs from June 9 and it took me just few days to realize that I was not enjoying my experience.

Not only the projects I was doing but also the kind of activities/tasks done by people around me did not interest me. I think I had too much expectations out of my "Operations" experience. But still I don't regret choosing Goldman over the other options I had. Some good things Goldman internship did to me were getting exposure to "Equity and Interest Rate Derivatives", Goldman Sachs on my resume and an opportunity to interact with some of the smartest guys (outside the Operations group) in the industry...Everyone in one of my group was really helpful and approachable but at the end of the day, it was a "FIT" factor.....

With not much hope from Goldman for full-time offer and more than that not much interest from my side in joining them, I restarted my networking with Simon Alums and other professional contacts. 9 out of 10 people I approached asked me to accept the offer from Goldman (if i get it) as US financial market was getting precarious day by day. But my persistence paid off and I got three interview calls - Aetna, Cigna and Citigroup. All of them for Corporate Finance role, not exactly what I wanted to do but still better than Goldman Operations.

15th September 2008 - just a day before my Fall 2008 quarter was supposed to start - I was having a much needed break in Niagara Falls - the two big news appalled the whole world - The 4th largest US Investment Bank, Lehman Brothers, filed for bankruptcy protection and Bank of America's move to buy Merrill in a $50bn deal. Three of the top five US investment banks have fallen prey to the sub-prime crisis within six months. Stock markets and the US dollar tumbled in reaction with banking shares hardest hit.

As the Interview day (Simon School's New York Minute Event) approached, lot of companies countermanded their hiring plans and it was no more difficult to prognosticate about the future of the US job market. Citigroup interview turned out to be a disaster for me as lack of technical preparation hit me hard but it wasn't the case with me in case of my other two interviews - Cigna and Aetna. Both of my interview went extremely well - thanks to my deep research on health care sector and respective companies.

Cigna called me for the super day interviews and my profound understanding of health care sector and my well prepared behavioral answers again proved to be handy. I was almost confident that I had nailed it. But I was wrong and I couldn't make it as interviewers felt that I was more inclined towards a job in capital market and I won't enjoy my stay in corporate finance group at Cigna.

In fact, they were RIGHT and I didn't want to repeat the mistake I did while deciding on my internship. Instead I got referred to CIGNA Investment Management (CIM) group and I approached our Simon School's alumni there. They offered me a 1-month internship opportunity for my winter break as they has some short term project going on and my skills would have been extremely useful. I accepted the offer as I considered that as an opportunity to learn about the group, expand my network and if possible, explore any opportunity to get a full-time job there.

Meanwhile I also attended NSHMBA job conference in October. I personally felt it was extremely helpful. I was able to get three interviews with three different companies - Microsoft (Financial Manager), PwC (Financial Risk Management) and American Airlines (Corporate Finance). My interviews with Microsoft and PwC went really well and I was very much optimistic about it.

I started with CIM immediately after my fall quarter. And the one thing which stood out at CIM was people as everyone was extremely helpful and approachable. While, I was enjoying my projects at CIM, I also made sure I interact with most of the senior management in the group. Given the short time frame of just 5 weeks, it wasn't that easy but I had just one thing in my mind - "If not now , then never." And my hard work paid off, everyone from my manager to CIO showed interest in my as a possibility of full-time with them.

But I hope life was that easy.....In the first week of 2009, Cigna decided to fire 1100+ employees as part of its cost-cutting process. Though CIM had no plans to fire anyone, they had to delay plans for hiring as well. And I came back to Simon School without any decision from CIGNA but with just some hope. At the same time, HR of Aetna came up with some good news for me. I was shortlisted for the super day interview and it would be scheduled sometime in March.

Status on my NSHMBA interviews - American Airlines rejected me after the first round, Microsoft never got back to me and PwC called me for the super day. On Super day, I had 6 interviews with PwC and I believe I screwed up one of the case interviews and that was good enough for me to get a reject.

Aetna cancelled their super day and hence any job plans this year and my trip to Cigna office in February, to show my continuing interest, turned out to be no more than a perfunctory handshake. In the meantime, I got an opportunity to interview with FBR for an Equity Research Analyst position (to cover financial services) but got kicked for not having enough relevant experience. I unofficially graduated in March but registered for one course so as to delay my official graduation. Pressure was building up and I don't know what drove me to register for CFA again this year (needless to say I had failed last year).

No anecdotes or deep musings, just some cold hard truth about getting ahead as an MBA. The educational experience is great, as are the friendships, but if you honestly answer why people spend two years and countless thousands of dollars on this degree you’ll conclude that it’s to get a shot at a better future. A more challenging and rewarding career. A new beginning to the rest of your professional life. And here I was, along with most of my other classmates, struggling to land up a single job.

And then in April 2009, I decided to stay away from Corporate Finance jobs as well as again and again, my passion for capital markets was coming out in my interviews. I decided to just focus upon capital market jobs like - Equity research, Trading and Portfolio Management and these were the areas which were hardest hit by this crisis..........

I kept on working on a trading and portfolio management tool I had started developing in Oct 2008 and shared that with various Simon Alumni and my professional contacts. Most of the time it worked for me as I got an opportunity to speak/meet with lot of industry professionals in asset management and trading. I landed up an interview with ITG (Investment Technology Group) and after couple of interviews, I got an e-mail saying that "hiring plans have been kept on hold" but as per my internal contacts at ITG, I learnt that the main reason was that they got a feel that I am more like a "Stock Picker and Research" person. Well, here you go, each interview was helping me to develop a specific focus. But in this job market, can u survive with such a focused approach?

One of my close friend at Simon School, motivated me to develop a valuation model and an equity research report to have a better shot for equity research jobs. And I spent around 2-3 days working on my model and report (no prize for guessing - company i picked was ITG as I had already done lot of research on that). I immediately shared my work with most of the Simon Alumni in the industry and with some other professional contacts in the equity research industry. And BANG....My reply ratio jumped to 90%...i think this is what is called "targeted" networking.

One of our Simon Alum at Soleil Securities, was highly impressed with my work as he referred me to Pomeroy Research, a research partner of Soleil Securities. I was immediately called for the first round of interview. During my first round of interview with Pomeroy Research, I learnt that they were looking for someone to cover “Health care Information Services” sector. I used next few days (or I should say next 30 hours) to do a thorough research on that industry and came up with a valuation and equity research report for one of the companies in that sector. I shared my work with the Alumni and my interviewers and they called me for the next round of interviews. And then finally, after couple of more conversations and after speaking with my references, they extended me a verbal offer few days back and a formal offer letter this Monday.

I have accepted the offer and will be starting with them on Monday, 22nd June 2009 as an "Equity Research Associate" position in NYC. I am extremely excited about this opportunity...And now you know why I am looking forward to next Monday......

I also had my commencement ceremony last Sunday, June 14. Now, just H1B related issues need to be figured out either next year or get a H1B transfer this year itself. Good thing is my new employer is fine with anything.

I have learnt a lot as I progressed through my journey from the start of my MBA to getting a full-time job offer. If the ultimate goal is landing your dream job in any field of your choice, there are a few important things you should know. Landing an internship in your target field with a respected firm goes a long way. Actually, it is essential if you are a career switcher as I was. I found that there was not enough time in the day to excel at the internship/job search and at academics. Unless you are one of the brilliant people who can master everything simultaneously, you must make choices. If your priority is a great career, do not sacrifice your internship/job search at the expense of your schoolwork. I kept this ratio as 80% job search and 20% schoolwork and still managed to be in top 20% performer and be considered for Beta Gamma Sigma honor society.

In this tough job market, employers are looking for three things: ability, passion and desire to work for their organization. Someone once said to me - "If you get one call back for every ten you make, then make 400 calls and voila you’ve got 40 leads". So, network like crazy making sure you are within professional limits. Realize that it’s an incredibly competitive job market and you need differentiation. There are very few candidates out there doing all of this. Some rely solely on their school ranking. Some rely solely on a friend or family member. Use those advantages if you have them, but do not stop there.

Always keep these three points in mind:

Don’t be a marginal candidate & Always differentiate yourself - The best way to avoid being a borderline candidates is to focus on a particular industry or function. Know the companies in the space, understand their issues, and know the job. The company you want to work for might hire 10 people this year instead of 20; you need to do what it takes be one of the chosen ones.

Network, Network and Network - Talk to people who have the jobs that you want. Talk to alumni from your university. Talk to people two or three years older than you. To our chagrin, some of the best jobs never get posted to public job boards. Talk to as many people as you can and create channels by which you hear about these opportunities.

Use unique job search resources - Generic job search sites are being overrun with panicked candidates, creating an immense amount of noise for employers trying to find qualified candidates. If you want to stand out, look for jobs that are posted on niche sites like alumni sites, blogs, and industry associations. For me, linkedIn and Careershift were some of the extremely valuable resources.

All the Best!!!!

I AM BACK

2008-04-01T12:04:00.001-04:00

Hmmm.....Long time...My last post was way back in April last year....This itself shows how hectic is MBA...
Lot of things have happened in last one year:
I chose to join Simon Graduate School of Business over CMU Tepper, ISB, Vanderbilt and Iowa....

Some Key Highlights from First Quarter:
a. With every day passing, I was getting more and more confused...What did I want to? Finance was my top choice...but in Finance itself there are lot of careers...Sometimes I thought of focussing on Equity Research, sometimes corporate finance, sometimes risk management..blah blah blah...
b. Learnt how to do effective networking....And this was learning from my own experiences....I was lucky enough to get some invaluable advices from Simon Alumni...
c. I believe I started Networking right on time but I doubt if it was in right direction every time...
d. By the end of the quarter, I had no Intership interview calls....Pressure was slowly slowly building up....
e. Managed to get 3.75 GPA and hence secured a place on the Dean's List....
f. U.S Market started showing some signs of weakness....Thanks to Credit Market Crisis.

Some Key Highlights from Christmas Break:
a. Fuelled up my networking....Talked/Met lot of alums in New York...
b. My wife, Anu arrived to NJ for an onsite assignment..
c. But no interview calls till the end of 2007.
d. US Credit Market crunch worsened.

Some Key Highlights from Winter Quarter:
a. In first two weeks itself, got 5 NYRP interview calls - Citigroup (Corp Fin), UBS (I Banking), Thomas Wiesel (I Banking), Goldman (Financial Operations) and Deloitte (Tech Consulting) and then 1 interview call for BRP event - Liberty Mutual (Corp Fin).
b. Converted Thomas Wiesel (I Banking), Goldman (Financial Operations) and Deloitte (Tech Consulting) and Liberty Mutual (Corp Fin) for second round.
c. U.S. Market kept on deteriorating
d. Liberty Mutual kept my result on hold and till date no news from them.
e. Thomas Wiesel rejected me after keeping me on waitlist for 2 weeks.
f. Got final offers from Goldman (Operations) and Deloitte (Tech Consulting)
g. Once again got placed on the Dean's list with GPA of 3.78

In between Winter Quarter and Spring quarter, I reached out to lot of Simon Alums and other personal contacts to get advice on picking between Deloitte and Goldman. Almost everyone suggested Goldman, because of the company's brand name, "Derivatives" group and mainly because I didn't have any better offer.

So far Some Key Highlights from Spring Quarter:
a. Accepted Goldman Internship.
b. Joining them on 9th June after my CFA on 7th June.
c. Mid term went on well..
d. Feeling pressure for CFA now.

Overall, I will say, placements have not been that bad at Simon. Companies have come to campus. People have got internship/job offers but effects of U.S. recession fear are visible.

Recently did a presentation on India in "Broaden Your Horizon" event at Simon school. I covered Maharashtra State. Really missed my country while preparing for presentation and of course during the presentation as well....:)

Will keep you guys posted...Till then enjoy.....

JP

Duke Interview Experience

2007-04-17T14:18:00.000-04:00

Here goes my Duke MBA Alumni interview experience.

All straightforward questions:

Why now?
Why MBA?
Short Term and Long term goals?
Why duke?
Good qualities of a team member
Good qualities of a leader
Three strengths
Three weaknesses
One leadership failure example
2 initiative examples - 1 from work n other one from outside work
A case study - This was a bit tricky - As a consultant for a new airline, I had to come up with a figure highlighting number of aeroplanes needed to start the business (Jet Airways was to be taken as benchmark). Interviewer was mainly interested in my approach and logic and not figures...
Any questions for him?

Overall it was a good experience. I hope this interview helps me to get my Wait List converted to an admit to Duke.

But as 30th April (deadline to deposit Simon/Owen's deposit fees..some 1500 $$$) approaching, not many days left. For me, this date would actually boil down to 25th April as after that I would be all busy for my D-day (29th April). So I would like to finish off my deposit and all before that. I hope I hear some good news from Tepper/Duke/UCLA before that.

Between Simon and Owen, my heart says Simon and my head says Owen. For last few days. I have been discussing this with lots of alumnus and students from both the schools. But I am still not very sure which way to go......

Is it really fair????

2007-04-04T15:58:00.000-04:00

For last few days, I have not been happy for India's dismal performance in the world cup and more than that the voice against Sachin putting questions on his credentials and asking him to retire. In one of the article I read that Sachin should take the responsibility and announce his retirement so that it relieves the pressure from the other Team players after the team's show in World Cup.
But one thing always keep haunting me, why for more than fifteen years, the country of a billion has been expecting only one man to bring victories and take blame for every loss. As far as I know there are eleven players in the Team. I remember during the 03 World Cup, Sachin played another class innings against Kenya, but people started saying that he can play only against such minnows. Well, he didn't play against Bangladesh and the result we know. But then now he should answer why he didn't?
When Sachin hits a century and India loses then its quiet common to hear that he can't win the match for the country, but people are even happy with Dravid's 50 against Srilanka though for not a single time India looked like winning. Is Dravid lacking something in terms of experience?
Inzamam took the responsibility for his team's performance and left his captaincy, even announced retirement from one-day cricket. But in India we want to hear this from a player of the Team, not the Captain or the Coach. I would like to know when did Dravid won a match single-handed for India; the fact remains that he has just played to turn a complete disaster into a more respectable loss.
I am not trying to blame the Captain and Coach as people might ask what a Coach can do if the team performs like this. But then why do we have a Coach? I guess most of the players were having a much better technique before the Chappel era, and the Coach was brought to improve the remaining flaws, but he introduced some new ones, whether it may be Sehwag, Pathan , Kaif or anyone. No wonder India is now 8th in the Ranking.
Most of the people will say that this is another blog post from a typical Sachin fan. I do accept that I have been his fan for last 15 years, but did he ever say that he was the very best; in fact we crowned him as the God. We always compare him with Laras, Pontings, the Waughs, Sir Viv Richards and even Sir Donald Bradman. Every time a player is at his peak, we start comparing Sachin with him, but why can't we find another Indian player who we can compare with them? Still remains a mystery.
I don't know he should retire or not because he knows more of him than us. But, I wish he didn't because that will be succumbing to the pressure created by the former cricketers (who stand no where to him) and the media (who knows when to lick and when to bark to get the best money). No matter what has happened, no matter how things go and no matter how much media shouts I will always salute the God of Indian Cricket, who made this game the passion of a billion hearts.

No Time to Relax

2007-04-01T06:02:00.000-04:00

Hey Kkkkkkirrran,

I have to stop writing letters to you as I am getting married very soon....Yup...You heard it right...I am getting married with my love, Anuprita, on 29th April...

On MBA Front...hell lots of confusion going on in my mind....Very Very Very Confused..........All results have been declared and current scenario is as follows:

Admits from :
Univ of Iowa (Tippie School of Management) - Approx cost would come to be 15 lacs Rupees
Vanderbilt Univ (Owen School of Management) --- Approx cost would come to be 33 lacs Rupees
Univ of Rochester (Simon School of Business) -- Approx cost would come to be 37 lacs Rupees...

Wait listed at:
Duke -- Didn't have interview, so scheduled now on 4th April with an alumni in Mumbai
Tepper -- after interview
UCLA - without interview

Rest -- DINGS

Less than a month to go for my marriage...so i am not sure about how much time I would be able to devote to my Wait list follow ups...But have to do it...I need to convert them to admits....else I have to compromise with II-Tier schools like Simon/Vandy/iowa....where again picking one school would be difficult task...what the hell is this????

Feeling a bit tensed since morning today...Not Sure what would happen but one thing is sure that there is no time to relax....

Come on JP...You gotta do it...Some efforts here and things would turn around...Come on buddy....This is not difficult than my love story (where I had to wait for more than 4 years to get a real good news)

Right now, my Views on the three schools(I have an admit) are as follows:

Simon:
Advantages:
a. Location - Close to NY
b. Small Class Size - so better focus from career management center and faculty
c. Good Reputation in Finance education

Disadvantages:
a. Costliest among all three
b. Cant get loan without co-signor, so might end up having loan in India

Owen:
Advantages:
a. Good Placements
b. Average Reputation in Finance education
c. No Co-signor required for loan

Disadvantages:
a. Costly
b. Location - I am not sure about this one as I believe east coast provides better opportunities for finance jobs.

Iowa-Tippie:
Advantages:
a. Cheapest among all three
b. Small Class Size - so better focus from career management center and faculty

Disadvantages:
a. Location - would also face tough competition from Kellog and Chicago
b. Not very well known for finance education.

So Guys please share your thoughts/views...

take care
bye
jp

Got waitlisted at Tepper

2007-03-12T15:39:00.000-04:00

Hi Kkkkkkiran,

This is what is in my decision letter:
"Our Admissions Committee thanks you for your application to the Tepper School of Business at Carnegie Mellon. Although we are very impressed with your credentials, we are unable to offer you a place in the Master of Business Administration (MBA) program at this time, as our application pool is extremely competitive this year. We have tentatively placed your name, along with the names of other qualified candidates, on our Fall 2007 Waiting List."

What is this yaar????? Another Wait list after Duke's....Initially I thought I would have some relax time in April, May and June months but now...:(....

Now...focus would be on updating and following up with these universities to convert my Wait list to admit but everything need to happen early as I need to deposit initial amount for Simon before 1st May....

Don't know what is going to happen and where I am heading finally for my MBA????

Anyways...would keep you posted..

Thanks
Jai

Good News from Duke and Vanderbilt when I am waiting for Tepper Result

2007-03-12T14:02:00.000-04:00

Hey Kkkkkkkkkiran,

Lets keep aside Stern interview...As right now I don't want to discuss about that...It was not bad but it was neither excellent...
Right now heart and mind both focused only on tepper result to be declared today....
But no news till mid night, instead got couple of other good news....

First news from Duke: A mail stating that my request for alumni interview would be given priority and I can expect an interview invite sometime after 22nd March....That is the kind of progress I wanted on my Wait list status on Duke...

Second news is from Vanderbilt-Owen : A school to which i got admit last year but with only 7k $ schol....This year i negotiated with Vandy Adcom on increasing my scholarship....And they increased it to 20K $ per year...But the admission is on condition that I have to be there in June end....

Well....Lets see what is on way from tepper school of business....This WAIT is killing me....

P.S.: Stern interview experience to follow up

bye
Jai

Waitlisted @ Duke - Fuqua School of Business

2007-03-08T14:44:00.000-05:00

Hey Kkkkkkkkiran,
I know you must be more optimistic than me for Duke's result....Its very much true...After my request for alumni interview was turned down on account of unavailability of alumnus, I was not expecting anything positive from Duke.....But when I logged into Duke site to check on my decision, I was kinda surprised....I was waitlisted...Waitlisted without interview....Decision Letter said -

"The admissions committee at The Fuqua School of Business has met to review your application for admission to the Duke MBA class of 2009. As a result of the tremendous competition for the class of 2009, we are unable to offer you a final decision at this time. Your application has been placed on our waitlist.
The admissions committee will review applications of waitlisted candidates periodically during upcoming admission rounds and throughout the summer months. Based on the competition and available space, we will make a final decision on your application when appropriate. We will update you on your waitlist status during subsequent rounds of admission."

Well....felt a bit better...Decision letter also mentioned:

"We strongly encourage waitlisted candidates who have not yet completed an evaluative interview to schedule an interview at their earliest convenience.'

Now, I feel that there is an excellent chance for me and if I managed to get an interview slot and then try to strengthen my application, show interest and love for Duke through interview, things might turn my way....Lets See....

Update on preparation of Stern interview: OK....last weekend managed to gather all Stern interview questions...With basic questions, I am more or less prepared as they are similiar to what I had prepared during my Simon and tepper interviews...But there are few tricky questions which I would focus on this weekend....So this weekend, full focus is going to be on Stern interview preparation...Rest we would see on 12th March at Hotel Taj...:)

Wish me all the best....
bye
jai

Arz hai........:)

2007-03-04T10:48:00.000-05:00

Hey Kkkkkkkiran,

On the occasion of Holi festival, some present from my side....from shayar Jailendra...;)

Title: Mumbai Local Trains mein seat ki fight
Venue: Standing in Local Train while coming back from office (in October 2006)
Addressed To: Mumbai Jantaa

Baavan seats ke compartment mein,
do sau sattar hai chhadhe huein...
sattar ko hai seat mili,
baaki do sau hai khade huein...

kuch logo ne return tha maara,
kuch logo ne lagaya zor...
kyun chand lamho ki seat ki khatir,
insaan hota hai aadamkhor...

Jo khade huein wo baithon ko dekhe,
par baithon ko koi fikar nahi...
seat saala har koi dhhoonde,
mil jaaye jo jidhar kahi..

Arey kyaa paayega bhole insaan,
chand lamho ke aaraam se tu...
mil jul ke kar lo journey,
kyaa paayegaa sangram se tu....

====================================

Title: MBA kyaa sapna banke reh jaayega???
Situation: One months had passed since i had submitted my applications and there were no interview calls... (in November 2006)
Addressed To: Bhagwaan

Dharti pe thein kadam nahi,
740 ka score laake...
Ab khuli hai aankhe meri,
ab mere hosh hai jaage...

Wharton, Insead, Cornell, Chicago,
Interview Call ka ab tak nahi pata...
Kyaa kami thee application mein,
ae mere khuda ab tu hee bata...

Sach-Jhoonth ka acchaa balance,
essays mein tha maintain kiyaa..
poora experience likh daala thaa,
jo ab tak thaa gain kiya...

Academic mein bhi kami nahi thi,
recommendation bhi thaa khoob bhidaya...
Sab kuch perfect thaa bhagwan,
fir interview call kyun na aayaa...

Dhobi ka kutta na ban jaaoon,
na rahein america na bhaarat ke...
ISB, XLRI aur Wellingkar,
ab dikhe hai options raahat ke...

====================================

Title: Nahi haaroonga mai...
Situation: 2 back to back rejections from my dream colleges (November 2006)
Addressed To: Myself

Dard bahut hota hai dil mein,
jab mehnat nahi rang laati hai...
asafltaa to milti hee hai,
par confidence bhi saath dubaati hai...

par sar pakadkar na baithoongaa mai,
palat ke vaar ab karnaa hai...
Jailendra is a GOOD Human being,
is baat ko saabit karnaa hai...

Wharton Chicago ne reject karke,
kar lee apni kismat kharab...
Waqt aane pe dikhla doonga,
doonga unko munh tod jawaab....

====================================

Title: Ankur BILLI (CAT) ke peeche
Situation: To boost the moral of my friend Ankur a couple of days before he was going to attempt CAT... (in November 2006)
Addressed To: Ankur

IIM ka sapna thaa tujhko,
isliye thaa CAT ka form bhara...
exam ki date paas hai aayi,
ab ghabraao mere bhai jara...

3 months ke pehle haal thaa jaisa,
aaj bhi saalaa haal wahi hai...
jis taiyari ki khaayi thi kasmein,
wo aajtak shuru hui nahi hai...

par mat ghabrana ankur bhai,
kilaa fateh tujhe karnaa hai...
jab LAALU IIM ja sakta hai,
fir tujhko kaahein ka darnaa hai...

====================================

Title: IPRU team - A Family
Situation: On my Project team... (in December 2006)
Addressed To: IPRU - Project Manager (in short myself)

Dil baag baag ho jaata hai,
dekh IPRU team ka mujhse pyaar...
Ab release nahi dil chaahega,
Kuch bhi kar le ye sansaar...

Vishal Ankur ki masti ho,
yaa muktesh ka ho bholapan..
sab pyaara itnaa lagtaa hai,
ki bhool jaau mai har uljhan..

Apni GF ki julfo se jyaada,
ab anna ki mujhko bhaati hai...
Ankit dear ko dekh dekh,
yaad bhai ki mujhko aati hai...

Itne sundar parivaar ko,
kyun apne haatho se todu mai..
Release wagairah sab monh maayaa,
do saal kisi ko na chhodu mai...

====================================

Title: Hamaari Hasti
Situation: Aise hee dil mein aayaa aur likh diyaa... (in December 2006)
Addressed To: Bhagwaan

Trainer kehtaa hai - Sweet Khaana chhod do,
Papa Kehte hai - Ladki patana chhod do.

Wharton kehta hai - Sapne chhod do,
MBA kehta hai - apne chhod do.

Saasu kehti hai - MBA chhod do,
GF kehti hai - warna mujhe chhod do.

HAMESHAA AISA KYUN HOTA HAI YAAR...
KABHI AISA KYUN NAHI HOTA HAI KI.........

TCS kahe -- rating ke liye darna chhod do,
Client kahe - 6 ke baad kaam karnaa chho do...

GL Bole -- roz roz office aana chhod do,
AM bole -- train mein dhakke lagana chhod do.

HR bole -- hai salary badhi ab ghabrana chhod do,
MATC bole -- ab onsite mil rhaa humko nishana banana chhod do.

YE KUCH SACH ZINDAGI KE,
HAMNE KUBOOL KIYE HAI...
AB KYAA HAMARI HASTI,
HUM KHUD HEE BHOOL GAYE...

====================================

Title: Nazar na lag jaaye tumko...
Situation: Likhnaa padtaa hai yaar GF ke liye kabhi kabhi warnaa naaraaz ho jaayegi... (in January 2007)
Addressed To: My GF

Chehre pe laga lena ek teeka jara tum,
apni aankho se kaajal churaake...
Nazar kisiki na lag jaaye tumko,
buri nazar se khud ko rakhna bachaake...

Kaali T-shirt pe baal bikhare bikhare,
teri har ada ek sitam dhaa rahi hai...
Aasmaan se zameen pe hai pari koi utari,
har ik fizaa yahi batla rahi hai...

====================================

Title: Kis se Karein Shikaayat...
Situation: Kuch Naarazgi ke pal thein... (in January 2007)
Addressed To: My GF

Mujhe tumne apni baahone mein bharkar,
Jo ehsaan mujh pe kar diyaa hota...
Na bechain hoti hamari mohabbat,
na dil mera aaj tadap ke yun rota...

par koi shikwaa nahi shikaayat nahi hai,
kuch kam rahi hogi mohabbat hamari...
Tumne to pyaar karke mujhpe ehsaan kiyaa hai,
tumhe dosh de itni jurrat hamari...

bye
jai

March 2007- A crucial month in my MBA Journey

2007-03-03T14:07:00.000-05:00

Hey Kkkkkkkiran,
hmmm....20 days and no update from my side.....
Reasons:
No new updates on my MBA journey front till couple of days back,
Few unexpected tensions in professional life and
Nothing major happening in personal life...
and ya of course 3 consecutive cricket match defeats in our team's last outing to Vasai didn't do any good to my motivation to write something....

And here comes the month of march, a month by the end of which it would be almost clear where am I heading for my MBA this year...All the results should be out by the end of this month...Right now, Simon (with 30% scholarship) is the only option---"Beggars are not choosers"...
With Duke result on 8th March, Stern Interview and Tepper result on 12th March, its clear that I am going to have butterflies in my stomach for next 10 days....

Not much optimistic about Duke as Adcom have not even conducted an interview for me....Stern interview - I still feel myself lucky to have got a chance of an interview invite from Stern and I need to utilize this opportunity with full hands so as to fulfill my dream of studying in top 10 ranked school....Tepper result - You never know..As mentioned in my earlier posts this school has been keeping Indians guessing and not sure what is going to be the result.....

Then later half of the month of March would have Ross and Owen result (15th March), Haas result (19th March) and UCLA result (29th March)....
No interview invites from Ross and Haas and their decision deadlines coming so near, hopes to have any positive result from them have started diminishing....I am looking forward to Owen (my deferred admit from last year) for some handy scholarship, which might become one criteria to decide on the school at the end....UCLA, I believe, doesn't conduct any telephonic interview so they are going to keep me guessing till very end of this month......I am optimistic for this school as I believe this application has been one of my strongest....

As I pen down this post, the Holi day has started.....With more than 1000 KMs away from my family and hometown, it is just going to be another day for me at least....Last year I was in USA during Holi and even next couple of years as well I am going to be in USA at this time....When I talked to my mom this morning, she just said - "Ab Kis ke liye mithaiyaan banaye, tum dono bhai to yhaa pe ho hee nhi..." (Now for whom we should make sweets, when you both brothers are not here..)...Words are still ringing in my ears...Wish I could have been with my family...
The flashback engulfed all over my mind...right from my childhood, my mom used to keep holi sweet boxes to a height which was out of my reach...it was just to keep a check on my greed for sweets....years passed but trend continued...mom not even realized when I became taller than her...but sweet boxes are still there...I am still her "Sonu"...(Sweet greedy) sonu....

But when I look towards my future, i see many holi and diwalis passing through my life just like another day....
May be I am getting a bit emotional today.....

Anyways...a very Happy Holi to you and all the guys who are reading this post....Enjoy the day and Cheers

bye
jai

After "D".....its time for "E" and "F".....

2007-02-11T00:50:00.000-05:00

Hey Kkkkkkkkkkiran,
I know you would take ages to understand the title....So let me explain you...the title stands for :
After "D"ing......its time for "E"njoy and "F"un.....

I know its weird...but that is the way i love to live life...

I, along with my friends - Muktesh, Abhishek, Balaji, Medhavi, Sachin, Aurobindo, Sudip and Prabhu, planned for a visit to Vasai beach (and a nearby fort)..Thrill started right from Borivlli station, where we had to board a train to virar and that also in second class coach... And guys who, at any point of time, have been attached to Mumbai would understand that what we were upto...but somehow we were able to get inside the local train...
After picking up Pritam (our project mate who stays in Vasai) from his home, we immediately proceeded towards beach....and our outing started with cricket match...We all got splitted into two teams with captain being Pritam and Abhishek and appointed one person, who was not having much proclivity to cricket, as umpire...I was in Abhishek's team...I would not get into the details of the first match because our team was badly outplayed...But in the second match, preeminent opening partnership between abhishek and sachin set an outstanding platform for our team.
We very well capitalized on that and had put up a decent score on board...and when the opposition team went out to bat, quick wickets in opening spell from muktesh and abhishek precluded any chances of us losing the match...And at the end, we won convincingly...

Well, just after two matches, we were all badly tired....

Then we moved on to have a close look at the sun set on the beach...
the whole group was so full of verve and enthusiasm that we didn't realize how the time passed by.... and moreover the waggish antics of muktesh and sachin caused us all to laugh heartily and merrily....We made up a plan to have a camp-fire near fort but then decided to procrastinate the same to some other weekend....But overall, it was a real good fun....wish to have more weekends like this...

But today, I am feeling pain all over the body.....too much exertion while playing cricket cost me...but that also gave me a pretext to drop out the idea of going for shopping with my GF...

"Money Saved is Money Earned"

And the moment when I am penning down this, Sri Lankans have stolen a victory from right under the Indians' nose, a victory that seemed to be a cakewalk at one moment. But a cakewalk at times can be slippery because of the icing on it. That is what exactly happened and the Indian innings collapsed like a house of cards. But it was really joyous moment for me to see England pulling off an amazing win after beating Australia 2-0 in the Commonwealth Bank series amidst great drama and high emotions. Is this the beginning of the end of a cricketing dynasty which ruled for over a decade???

bye
jai

"D" sucks ---> "D" for Darden School of Business, "D" for Decision and "D" for Ding

2007-02-09T13:48:00.000-05:00

Hey Kkkkkkkkkiran,
After few happy days/news, something heart breaking: "Rejection from Darden School of Business - University of Virginia"......

Mail from Darden Admission Committee :

"After careful consideration, the Admissions Committee regrets that it cannot act favorably on your application for admission to the Darden School MBA program. We can admit only a small number of those who apply to our program and must make difficult choices in allocating the available spaces. In most cases, there is no single reason for a decision not to offer an applicant admission. Your application received a thorough review by the Admissions Committee. Thank you for your interest in the Darden School. We wish you success in pursuing graduate management study and in your future career."

Frankly speaking, I was very much optimistic for this application and why should I not be??? With similiar changes or modifications (learnings from previous applications), I have earned an interview invite from Stern, a very high ranked school and not very well known for lots of interview invites....and then from Darden, not even an interview invite....

Well, the possible reason might be "I was reapplicant to Darden".....Last year when I applied, my short term and long term goals were different from what i mentioned in this year's applications (hmmm thats true my goals changed within an year..i know it sounds weird..)...This might have been enough for admission committee to raise eyebrows...

Anyways life moves on.....Rightly said by one of my friend today: " i am sure it doesnt hurt as bad as it would have hurt last week.."...I think he is right...

Lets see what turns up for other schools...Till then lets enjoy Simon-Admit....

Planning to go to Vasai (beach and fort) tomorrow for a small outing with my friends......

bye
jai

Admit from Simon School of Business

2007-02-05T14:53:00.001-05:00

Hey kkkkkkkkiran,

What do you say about this mail from Simon School of Business (Univ of Rochester)?

"I am very pleased to inform you that you have been chosen to attend the Simon Graduate School of Business beginning September 2007. Congratulations on your admission to candidacy for the degree, Master of Business Administration!

I am also pleased to inform you that you have been awarded a scholarship equal to 30 percent of your tuition each quarter. This award requires you to enroll as a full-time matriculated student. This scholarship will be extended to your second year at the same rate provided you maintain a B average (3.0/4.0) and will continue through the remaining required Simon M.B.A. courses. These scholarships are awarded to candidates whose outstanding achievements place them among those we would most like to enroll at Simon. "

MY FIRST ADMIT OF THIS YEAR....So Now all set for MBA....

Well.....a long long long wait ends...and here comes my first admit of the year...so what if it is from one of my safer schools...Considering the competition this year and the way simon had rejected good profiles, I was not that much optimistic or sure about the results... but my application proved to be strong enough to the school at least in case of Simon....

As I want to pursue MBA in finance, Simon (ranked worldwide 5th in finance , 4th in economics and 5th in accounting education) is not a bad choice........
And most important is its location...east coast and very much near to new york...that means more proximity to jobs in finance....

Just FYI, putting down the simon's rank worldwide under different categories:
(Source: FT)
*************************************************
North American salaries today ---> Not in top 10

Top salaries in finance and banking ---> Not in top 10

Top salaries in consulting ---> Not in top 10

Top salaries in industry ---> Not in top 10

Best in finance --->
1 University of Chicago GSB
2 New York University: Stern
3 University of Pennsylvania: Wharton
4 Columbia Business School
5 University of Rochester: Simon
6 London Business School
7 University of Toronto: Rotman
8 Rice University: Jones
9 MIT: Sloan
10 Coppead

Best in entrepreneurship ---> Not in top 10

Best in economics --->

1 University of Chicago GSB
2 Cranfield School of Management
3 MIT: Sloan
4 University of Rochester: Simon
5 UC Berkeley: Haas
6 Yale School of Management
7 Imperial College London: Tanaka
8 University of Pennsylvania: Wharton
9 Iese Business School
10 Stanford University GSB

Best in accountancy --->

1 Brigham Young University: Marriott
2 University of Texas at Austin: McCombs
3 University of Chicago GSB
4 Cornell University: Johnson
5 University of Rochester: Simon
6 University of Pennsylvania: Wharton
7 University of Notre Dame: Mendoza
8 Dartmouth College: Tuck
9 Columbia Business School
10 University of Iowa: Tippie

Best in international business ---> Not in top 10

Best in general management ---> Not in top 10

Best in organisational behaviour ---> Not in top 10
*************************************************

I would wait for the results on my other applications before sending my offer acceptance to simon.

Well, Update on my other applications are as follows:

Stern --> Alumni Interview in March (date would be confirmed by Feb end)
Darden ---> Still waiting for Interview call, decision date is 09th Feb 2007, So I feel Ding is on the way....
Tepper---> Interview over, Result by 12th March 2007
Haas ---> Application under review (waiting for an interview call)
UCLA ---> Application under review (waiting for an interview call)
Ross ---> Application under review (waiting for an interview call)
Duke ---> Application under review (I requested for alumni interview but admission committte was not able to arrange one for me and informed me later that interviews not required for admission but as 95% of admitted students are interviewed, I believe, Duke is going to be another reject for me)

My Priorities right now (assuming I get admit from all...:))))))...........)

Stern
Ross
Duke
Darden
Haas / UCLA
Tepper
Simon

Anyways, its party time right now.........

thanks
jai

Tepper Interview Experience

2007-02-04T03:17:00.001-05:00

Hi Kkkkkkkiran,
Here goes my tepper interview experience...
8:30 PM (IST) --> I was at doctor's clinic getting my checkup done as I was having fever and headache for last 2 weeks
and
2nd Feb 2007, 10:00 PM (IST) ---> tepper interview

That was not an ideal preparation for an interview of a school like Carnegie mellon (Tepper school of Business)......took medicine before my interview so as to avoid headache....and by 9:45 PM itself, i was under soporific effect of medicines....

Anyways, my phone rang at sharp 10:00 PM and my "hello" was responded by a sweet voice - "Hi, This is Gwen calling from Tepper School of Business..."
After initial talks, my interview started......and most of the questions were pretty straight forward...
The Questions were as follows: ( i hope i have managed to amass most of the questions...)

Walk me through your resume?
Career Aspirations?
Why Tepper?
How would you bring diversity to the tepper community?
Leadership example?
Red Flag and Green Flag in your application?
Any questions...

It lasted for 23 minutes....

Although, nothing went badly amiss in my answers but somehow i was not satisfied at the end....may be because interview was pretty straightforward....
She asked question...i answered
She asked question..i answered
even there were no follow up questions...not sure whether i should call it as "conversation" - a word often used for MBA interviews...

Infact, one of the member of PG community had already mentioned in one of his posts "the interview will be a regular run-of-the-mill thing with standard questions and standard answers." And now i believe that he was right....

If I would rate my Simon interview as 7/10, then I would rate tepper interview as 6/10....may be because in Simon interview (an alumni face-to-face interview), I was able to guess from the body language of interviewer whether he has been impressed or is interested in my profile but it becomes very difficult in case of a telephonic interview....I think that is the reason why people always prefer face-to-face interview...

Results on PG forum for tepper R1 have not been very encouraging...

Total applications - 10
Admitted - 1 (10%)
Waitlisted - 5 (50%)
Rejected - 4 (40%)

Still I would keep my fingers crossed....and hope for the best...Result from tepper expected by 12th March...It had been my journey of more than 4-5 months (since i have finished my GMAT in september) and still waiting to have an admit...

On my health front...got couple of x-rays and blood check up done yesterday...suffering from "Right Sided Maxillary and Frontal Sinusitis"...still in process of recovery....

chalo bye dear and take care
jai

Simon School of Business-Interview Experience

2007-01-21T12:31:00.000-05:00

Hey Kkkkkkkiran,
I know you must be eagerly waiting for this mail…My experiences out of Simon’s interview….

Well well well…..2 rounds interview…..and that also for an MBA admission…..and that also for an USA B-school…Difficult to believe…isn’t it….but it actually happened today during Simon School of Business – University of Rochester interview at Taj Palace in Mumbai….

Reached 15 minutes before the scheduled time…considering the area around churchgate and Gateway of India was all blocked because of Mumbai marathon, this was a big achievement…..

I entered inside Taj with one gentleman, who also seemed to be late for something and was in hurry. He was also looking for the same rooms, which were booked by Simon for interviews…he happened to be one of the alumnus..:)…and when my name was called upon, he was the person who was all set to take my interview….

Before I actually get into the details of my interview, few things about interviewees…there were about 20+ prospective students who had turned upon for interview….frankly speaking, considering that this school is not famous among Indians, I earlier thought that the count should be three or four…but 20+ was pretty decent number…..and most of them with pretty good GMAT score (average 700) and work experience (average 2.5 years)…

5 guys I met were from infosys pune…now I understand why the attrition rate of infosys is constantly increasing…;)…when I was getting proud of TCS on this factor, a lady rushed into me saying that she is also working with TCS and has come for interview….:(…

95% of the prospective students were from IT background…there were 2 guys who had “finance” background…

Ok….coming back to interview.

Interviewer was Mr. Ashok Narain (he had done his MS from Simon, MBA from IIM (K) and is working as Deputy GM at RBI) …frankly speaking, I was a bit tense initially but as interview proceeded, it was too facile for me as there were not many questions for which I had to give an extemporaneous answer.…:)

Questions asked were as follows:

Whats your GMAT score? ---- I felt proud to answer that…:)
How much experience you have?
Why Simon?
Why MBA? Why now?
Why career switch?
Which all other schools have you applied?
How many hours you work in your current job? – I answered as 40 hrs per week….
Are you ready for 60-70 hrs week efforts required in Simon? --- this question was tricky but I should admit that I handled this with panache…:)
How would you contribute to Simon?
Any questions?

Interview lasted for about 20 minutes and over all, it went pretty cool and I was satisfied at the end of interview but then Mr. Ashok’s statement came as surprise for me, “Jailendra, Please wait outside. After lunch, we would have second round of interview with other alumnus.”…..

Second round??????

Anyways, I went back to meet other interviewees and found it was the same case with everybody…

During lunch, we had a kind of casual discussions with all other alumnus(there were in total 4)…we were also distributed a pen, post-it and a cigarette case (all Simon trademarked)….well cigarette case is just going to be a nugatory showpiece for me as I don’t smoke…:)

After lunch, mine was the first one to be called for round 2 interview….now the alumnus divided themselves into a pair of two each…second round interview questions were:

Discuss about yourself? --- I think I messed up a little bit here…I could have answered in better way…I was deploring my answer later on….
Which other schools u have applied to?
If you get admit to all, which one would you choose? Very tricky question and I think my answer was possible fallible.
Any questions? - I had depleted all my questions in Round 1 and in informal talks with alumnus during lunch.

It didn’t last long…5-10 minutes…I think it was the same case with others as well….but I believe I had performed better in round 1 as compared to round 2…
Alumnus also told that there would be two interview feedbacks send to adcom…

Overall my feel….alumnus were pretty impressive…very helpful and were ready to answer all queries…and I think most of us were pretty satisfied with simon school…i think I am all set to go to my safe school (if I get admit) if I don’t get an admit to any other school.
Keeping my fingers crossed till feb 15th when results would be released….

And ya….there I met Miss Aditi (one of the two from finance background), who has promised all of us to take finance classes for those who get admits to university of Rochester before we join the university and this is irrespective of her admission but I know she is all set to rock rochester…..

Next target…CMU-tepper – 2nd feb – telephonic interview…..

And Kkkkkkkiran...i am sorry for grammatical and spelling mistakes in this post as i am writing in hurry...:)...

That’s it…
bye
jai

what a day?? Away from MBA tension...Away from GF...What else you need?

2007-01-14T13:21:00.000-05:00

Hi kkkkkkkkKiran,
Till date I have written two letters but not addressed to you....So from now onwards you would be my recipient..... whether u receive or not...:)
I am writing this to you to share something....Yesterday, 13th Jan 2007, was one of my memorable days....bole to ekdam jhakkkaaas...
My day started at 10:00 AM....its normal time on saturday...Opening of the day, similiar to our indian cricket team batting, was not so good as I had to be on office call for some time...well lets not get into detail of that....
The first main attraction of the day was my team's new year+X-mas party (i know 13th jan was too late) at Phoenix mills - Sports bar
....i reached 1 hr late....or lets put it this way...rest of the team reached 1 hr early and i was on time....
well kkkkkKiran...u know one thing...this is the first team i am leading where I really feel I am part of some family... everyone in the team is too good...friendly, caring and enthusiastic... and haan ofcourse hardworking, intelligent and sincere.. but these things always come second in my team....;)...
ok..lets get back to the party....after having starter... there was award distributing ceremony.... even i won an award (Most proactive...;)...dnt laugh plz)....and then after having excellent lunch..we moved on to the bowling....
it was really nice experience...i enjoyed a lot and i think the whole team as well....I was the lowest scorer in my group but u know some leaders prefer to give chances to others...;)...
From there, I rushed to Channel - V concert with few of my friends....wow..it was damn good....Artists like Atif, Kailash Kher, A-Kon, Bappi lehri, Shankar-Ehsaan-Lloy performing in front of you....Right from Atif's Tere Bin to Kailash's Deewani - audience were going mad...the last performance was from Priyanka chopra - which I had to miss...:(... as I was getting late for movie "Guru"....
well few words for "Guru"...I liked it a lot...a good inspirational movie i think...it shows how self-confidence can make such a huge difference...worth watching....u shud also watch..but it may prove to be a bouncer for u as u would hardly understand any business terms used in movie...hahahaha..:)

welll day ended next day as it was already 1:30 AM by the time i was out of the theater...... A day which kept me busy whole day without any work...:)

Overall it was a good break from "target->MBA"....and most of the credit goes to my friends.....we together ROCK....

bye
jai

At last....an Interview Call...:)

2007-01-09T14:06:00.000-05:00

Can you believe it???? Yesterday itself I said to one of my colleague in office - "Today, I would be submitting my last application and then I would take 1-2 weeks proper rest...tired of essays, applications etc"...But..............

Before I had clicked on "submit" button of Duke, I got an interview call from Simon School of Business (Univ of Rochester) ......

Feeling good as after 4 rejects, an interview call (may be from your safe school) always gives u a big relief....

No REST...As again busy with interview preparation....

As this is the only safe school in my list....wanna give best shot to this...interview is on 21st jan...for time and venue, I have written a mail...waiting to hear back from adcom on that....

would keep posted if any other news....

But yaar....EK DIN KA TO CHAIN TO BANTAA THAA YAAR.....UFFFFFFF....
What should I answer to my fiancee's question ---"Are you sure you would get time to marry me this year?".....

I always say ---"Yes.....of course".......but.....

Will the year 2007 bring luck for me???

2007-01-07T05:05:00.001-05:00

9th September 2006 - when I got 740 score in GMAT.....I was on the seventh cloud...I was sure of getting an admit to ivy-league schools such as Wharton , Chicago, Harvard etc.....But rejection from all four schools I applied to, in early decision round, has opened my eyes.....Rejection without any interview call from Wharton, Insead, Cornell and Chicago shook me from inside...Although I revisited my essay strategy since then and applied to Stern, Darden, Rochester and Haas in December, followed by UCLA in January but still not sure whether I could avoid another nail in my coffin.......

Today when my first weekend of the year is about to end and I am about to submit my applications for Ross, Duke and Tepper, I have decided "Thats it" - Enough of applications, essays, recommendations......I know applying to 12 schools is too much but my desperation to go for MBA this year has driven me for that.... From tomorrow onwards, I am going to use the strategy of "Wait and Watch"...I know my fiancée would be more than happy on this...For the last 2-3 months and even before that while I was preparing for GMAT, we have hardly gone out somewhere...want to get free now...for some days...at least...before I get an interview call from some school....:)

My call right now on the schools I have applied to or applying (no harm in getting optimistic):
Stern -- Should at least get an interview call
Darden -- Should at least get an interview call
Rochester -- Should get an admit
Haas -- Should at least get an interview call
UCLA --- Should get an admit if interview goes fine
Ross --- Should at least get an interview call
Duke --- Should at least get an interview call
Tepper --- Should get an admit if interview goes fine

Lets c.......................I hope year of 2007 turns table for me.....