Executive MBA Recorded Admissions Events

Trenton Ackerman: Hello, welcome everyone to this information session about the Chicago Booth Executive MBA Program. My name is Trenton Ackerman, and I am the Admissions Manager. I have the pleasure of leading you through this presentation. Here is what we have planned for this session. We will start with a brief introduction to Chicago Booth. Then we will talk in more detail about the Executive MBA Program. We will talk about the application. However, our intention today is not to sell you, but rather to inform you. The University of Chicago has been a world-renowned institution for more than a century and has academic leaders who have changed the world in nearly every field and industry. And as you may know, there are 99 Nobel laureates affiliated with the university, many of whom have been or are currently Chicago Booth's faculty. So let's talk about one of the most unique facets of Chicago Booth MBA programs: our faculty. All classes in each program are taught by professors from Chicago Booth, one faculty, one curriculum, one MBA degree across our four MBA programs. This is a unique model in that all four of our programs are aligned academically with the same rigor across. Teaching in this program are the same professors you may see in the media answering questions at the front line of global economic challenges we face everyday as business-people and consumers. Chicago Booth is also the home of 99 Nobel laureates across the fields of business, like Douglas Diamond, the 2022 Economic Sciences recipient for his work on banks and financial crises. Richard Thaler, another Nobel laureate winner for Behavioral Economics in 2017, has taught a core course in the curriculum. Chicago Booth faculty are truly remarkable. They are globally-focused. They are experts in their fields. And they bring that expertise into the classroom. They are skilled teachers who are approachable and available to students and truly enjoy sharing their curiosity and love of learning.

Trenton: In this session, however, we are here to focus on the Executive MBA Program, which is designed for mid- to senior-level working professionals who choose to continue their career while at the same time pursuing an MBA. There are two major elements of the Chicago Booth Executive MBA Program that set it apart from other executive MBA programs. The first is the global nature of the program. Not only was Chicago Booth the first Executive MBA Program in the world, founded in 1943, but it is the only US-based Executive MBA Program with three permanent campuses around the world, in Chicago, London, and Hong Kong. Chicago Booth's faculty teach at all three campuses. They travel from Chicago to teach Executive MBA students around the world. This is not a joint venture or a partnership with another institution. The curriculum focuses on general management and is lockstep. Each course builds upon the previous one, and all students from around the globe are taking the same classes at the same time. Executive MBA students spend time studying on all three campuses. Each student spends time in classrooms, in study groups, and in conversations with people that live and work all around the world. This builds a truly global peer network and provides valuable insights into how organizations operate around the world and how cultural differences impact this. Each Booth cohort is composed of approximately 200 students from 50 different countries. It is a collaborative and inspiring community. Students learn from peers with great diversity of background and experience, and they champion each other every step of the way. Also, not only do Executive MBA students join the network of powerfully connected people in their own classrooms across each campus, but they also become part of the broader Chicago Booth community. This is a network of over 56,000 alumni worldwide who all hold the same degree, an MBA from the University of Chicago. These alumni are based in 120 countries worldwide, and thousands of them hold C-level positions in a vast variety of companies and industries. Our alumni are incredibly supportive and accessible, with a pay-it-forward mentality. Access to this international network is part of the return on investment of a Booth MBA. The second differentiator of Chicago Booth's Executive MBA Program is the global career and leadership support. Many students consider pursuing an MBA because they're looking to make a change. Maybe advance their careers, make a career pivot, or start their own business.

Trenton: At Chicago Booth, our Executive MBA students are supported throughout their 21 months by our Global Career and Leadership Development team, or GCLD. Our career and leadership support is an integral part of the program, and it is designed to help students develop confidence and leadership. Our staff work with students on their career and leadership development needs through three primary elements. The first core component of the program is the LEAD course. LEAD stands for leadership, exploration, and development and is a course all Chicago Booth students take. The GCLD team facilitates introspective and interactive classes that enable students to expand self-awareness, build resilience, and demonstrate adaptability. These sessions dive deep into key behaviors and mindsets to help each student improve their effectiveness as a leader. The second component of GCLD is its focus on educating and preparing students for the career marketplace. Students explore opportunities in various industries and functions through sessions that connect them to our alumni community. The final element of the Global Career and Leadership Development Program is executive coaching. All Executive MBA students are expected to meet with a coach at least twice during the 21-month program, but are not limited to the number of sessions that they may schedule. Through these one-on-one sessions, students explore their career and leadership needs and work to achieve their unique goals. Also, it is important to note that the Chicago Booth Executive MBA career service support is for life. So alumni may access these services even after they graduate. So let's now turn to the specifics of the Executive MBA Program here at Chicago Booth, with a description of the format. The Executive MBA Program launches one cohort per year each September across all three campuses and starts with all students across the globe spending a week together in Chicago. The program is 21 months long, culminating in a Global Executive MBA graduation celebration in Chicago. The format varies slightly by campus. In Chicago, classes primarily meet in periodic Thursday to Saturday weekends, approximately once every three weeks. Students on our London and Hong Kong campuses study in week-long class sessions throughout the course of the program. In addition to these local sessions, students immerse themselves in Global Residency Weeks, during which they study with classmates from all three campuses: one week in London, one week in Hong Kong, and three weeks in Chicago. These global sessions expand the Booth network worldwide and provide each student a unique view into business decision-making across the globe. This format also allows students the flexibility to continue working and to study in their home regions and on international campuses. Transferring between campuses is permitted. So even if students move or change jobs around the world, their studies are not interrupted.

Trenton: Now let me provide more detail about the curriculum specifically. This slide breaks down the classes students take while in the program. The focus is on general management, and the curriculum is lockstep, each course building upon the previous one. The program begins with foundational classes, including Statistics, Financial Accounting, and Microeconomics, that are the building blocks of business and the sciences one needs to understand to effectively lead an organization. From there, classes diverge into the functions of business, including Finance, Marketing, and Operations. The curriculum then advances to address the subjects of managing people and decisions. The lockstep curriculum finishes with classes emphasizing the impact of the broader business environment, including Macroeconomics, Strategy, Ethics, and a new Data course that will incorporate a study of the impact of AI. In the second year of the program, each student chooses four elective courses through which to customize their educational experience. Finally, the program ends with a choice of one of two capstone experiential courses focused on either business strategy or entrepreneurship. A tenet of every course in the curriculum is the Chicago Booth approach, rigorous and data-driven. Although the majority of classes in the Executive MBA Program at Chicago Booth are taken together by the whole cohort, students also have opportunities within the program to pursue their passions. Importantly, electives are a chance to tailor the program to specific interests, to go deeper or wider. Elective courses provide an opportunity for students to expand their knowledge of a field or function in which they currently work or explore a completely new subject. Approximately 25 to 30 elective courses are offered from which each student picks four. All four courses are taken over the course of a two-week period in August of the second year of the program. Additionally, the capstone experiential learning course is also a way for students to customize their Booth Executive MBA education. Students choose between two final courses: either Global New Venture Challenge or Integrated Strategic Management. Global New Venture Challenge is the global extension of Chicago Booth's New Venture Challenge. Student teams develop a comprehensive business plan, then pitch their new idea to peers, faculty, and outside experts. Teams refine their business plans iteratively during a class to eventually compete for prize money during the GNVC finals. The alternative capstone class is Integrated Strategic Management, or ISM. Using a multi-round simulation game, student teams compete in a market environment in which they make strategic business decisions, negotiate with other teams, and manage their own tasks and team members with the goal of accumulating cash flow and future profit potential. The course culminates in presentations to a panel of judges who value each company. This slide is a quick snapshot of a class profile. These statistics represent all three campuses for the class that entered in fall of 2023, a total of 209 students worldwide. 28% of the students in this class were women. In each Executive MBA cohort, the numbers vary slightly, but the diversity of the class is consistent. A vast range of industries, functions, and nationalities are always represented, each layering on to the expansive Chicago Booth network. It is worth pointing out that the test scores, age, and work experience statistics are averages. If a prospective student falls outside these averages, they are not summarily disqualified for the program. Admissions staff are happy to meet with each interested student to discuss professional background and goals and offer advice regarding fit for the program.

Trenton: Now to the application requirements. Here at Chicago Booth, we ask for a standardized test score. We accept the GRE, GMAT, and Executive Assessment, or EA. Generally, we recommend the EA for Executive MBA students. It was created by GMAC specifically for Executive MBA students and is the same quality of test but significantly shorter. In some circumstances, an applicant may request a test waiver. You can check our website or reach out to us for more information. For transcripts, we allow you to upload unofficial copies from any institution you have received credit. If you are accepted into the program, official copies will need to be sent. We also require at least two letters of recommendation. Preferably one of these will come from your direct supervisor. However, the main purpose is to hear from recommenders who know you intimately. So if you have a new supervisor who you've only worked with for a short amount of time, you could also use a past supervisor. We also recognize that some applicants are self-employed and may not have a supervisor. The resume is pretty straightforward. We'd like to see your professional experience and your growth in your career. And we do require one essay with three optional essays you can complete to give us a broader picture of who you are. All of the items I've mentioned so far are required to submit your application. Once this is done, we will perform an initial review, and if we believe you could be a good fit for the Chicago Booth Executive MBA Program, we will invite you to interview with one of our alumni. Who better to assess your ability to succeed in the program than those who have gone through it themselves?

Trenton: So if your interest is piqued and you want to learn more, what should you do next? A great first step is to sign up for a CV review with admissions staff. Find the link to do so on our website under Executive MBA Admissions. We also encourage you to engage with Chicago Booth. We would love for you to join us for sessions we host throughout the year or reach out at our general mailbox to set up some time to meet with an admissions counselor directly. Finally, we encourage you to start an application. If you would like to learn more about the details of the application, please visit our web page or email our admissions staff to be connected to an admissions advisor. Thank you so much for listening. We hope to see your application come through very soon.

Speaker: Hello and welcome, everyone. In this session, we hope to provide answers to questions we often receive from prospective students working on their applications and trying to gain a better understanding of the Executive MBA experience at Chicago Booth. So let's start with the first question. Question one. What differentiates Chicago Booth from other business schools? There are two differentiating characteristics of Chicago Booth versus other business schools. The first is our approach to learning. We call this the Chicago approach. It is characterized by three key components. First, the Chicago approach is rooted in the fundamental disciplines of business, including economics, statistics, psychology, and sociology. Secondly, it is rigorous and analytical, teaching students to use data to inform decision-making. Finally, the Chicago approach relies on open discourse and free exchange of ideas to challenge our students and faculty to improve their thinking and understanding. This rigorous education helps students sharpen their analytical and critical thinking skills by giving them tools and frameworks to define problems, to ask better questions, and to develop better solutions. The second unique facet of all Chicago Booth MBA programs is the faculty. All Chicago Booth faculty are truly remarkable. They're globally focused, they're experts in their fields, and they bring that expertise into the classroom. They are also skilled teachers who are approachable and available to students and truly enjoy sharing their curiosity and love of learning.

Speaker: That covers two important distinctions of the business school, which are consistent across all four paths to an MBA here at Chicago Booth. Let's move to the next question. Question two. What is unique about Chicago Booth's Executive MBA program compared to competitor programs? One unique aspect of Chicago Booth in the Executive MBA space is the global nature of our program. It is the only US-based Executive MBA program with three permanent campuses on three continents, in the great cities of Chicago, London, and Hong Kong. Chicago Booth faculty teach at all three campuses. They travel from Chicago to teach Executive MBA students around the world. This is not a joint venture or a partnership with another institution. Also, Executive MBA students become part of the broader Chicago Booth community. This is a network of over 56,000 alumni worldwide who all hold the same degree, an MBA from the University of Chicago. Our alumni are incredibly supportive and accessible with a pay it forward mentality. Access to this network is part of the return on investment of a Booth MBA.

Speaker: Question three. How is the program structured and what does the class schedule look like? The Executive MBA Program launches one cohort per year each autumn across all three campuses, in Chicago, London and Hong Kong. The program is 21 months long, culminating in a Global Executive MBA graduation celebration in Chicago. The class schedule varies between all 3 campuses, and you can find out more specifics on our website. Regardless of your home campus, students immerse themselves in week-long residencies during which they study with global classmates from all three campuses – one week in London, one week in Hong Kong and three in Chicago. These global sessions are a wonderful way for students to expand their networks worldwide. This global format allows students the flexibility to continue working, and to study in their home regions or on an international campus.

Speaker: Question four. What are the application requirements for the program? First, we ask for a standardized test score as required part of the application. This can be a GMAT, GRE or Executive Assessment score. In some circumstances, an applicant may request a test waiver. You can check our website or reach out to us for more information. Second, we require transcripts from any post-secondary degrees or coursework. For purposes of the application, these can be copies of the transcripts. Next, we ask for two letters of recommendation. One of these is expected to be from your supervisor. If you are self-employed or have recently changed jobs, you can note that in your application and choose someone else who can speak to your work performance. After that, your professional resume is also required. We are flexible in terms of resume format and length, but also have a template available upon request if you would like to revise your current resume. Finally, there's one required two-page essay and three optional short answer questions. The required essay asks you to describe what you've accomplished professionally, why you are thinking of an MBA at this stage of your career, and why you believe Chicago Booth is a good fit for you. After the application is submitted, select applicants are invited to interview with an Executive MBA alumni. Please note that all pieces of the application receive equal weighting, we take a holistic approach to the application you submit, and no one part is more important than any other.

Speaker: Question five. What makes a strong applicant? There isn't one specific profile or characteristic that makes a candidate successful in the Executive MBA program here at Chicago Booth, but there are a couple of things we look for. One key area is fit. Does your career path and do your goals fit a general management program? Do your values fit within the Booth culture? In addition, we are looking for capability. Does your experience and academic background demonstrate your potential to handle our rigorous curriculum? Students must be curious, prepared to learn, and ready to engage with the material.

Speaker: Question six. Who will my classmates be? On this class profile slide, we represent all three campuses for the class that entered in September of 2023. In this cohort, there are total of 209 students worldwide, representing 45 nationalities. 54% of them already have an advanced degree. These students come from a wide array of industries, including technology, consulting, investment management, pharmacy, and biotechnology, as well as government, education, and nonprofit. About 80 of the students in this cohort study in Chicago as their home campus. However, of those, almost 70% live outside the state of Illinois. Executive MBA students are in their mid to late thirties with an average of 14 years of work experience. The general requirement is a minimum of eight years of experience to be a strong fit for this program. Average test scores are posted on this slide as well. If you fall outside any of these scores or any of these statistics, do not discount your fit for the program. These are averages, and we have a wide range of students within the program.

Speaker: Question seven. What classes will I take? This slide breaks down the courses you will take while in the program. The focus is on general management and the curriculum is lockstep. Each course builds upon the previous one. The program begins with foundational classes, including Statistics, Financial Accounting, and Microeconomics. These are the core building blocks of business. From there, classes diverge into the functions of business, including Finance, Marketing, and Operations. Next, the curriculum addresses the subjects of managing people and decisions. Students also study the overall business environment, including classes in Macroeconomics and Strategy. During the second year of the program, each student chooses four elective courses to customize their education. Finally, the program finishes with a capstone experiential course either focusing on business strategy or entrepreneurship.

Speaker: Question eight. What support will I receive for my career progression? This is another area in which Booth has a unique offering. Career and leadership support is an integral part of the Executive MBA program and is highly customized to help students develop confidence and leadership skills. We have staff on all three campuses who work with our Executive MBA students on their unique career and leadership development needs. They do this through three primary components. The first pillar of career support is the LEAD course. LEAD is a class that's part of the curriculum for all Booth students. LEAD stands for Leadership, Exploration, and Development. The career support team teaches this class with the goals of expanding self-awareness, building resilience, and demonstrating adaptability as a manager and leader. The second component of the Executive MBA career support involves educating and preparing students for the career marketplace. Our career coaches arrange a wide variety of opportunities to explore industries and functions through sessions that connect students to our alumni community. They also offer workshops focused on building specific professional development skills. Finally, the third pillar of career support in the Executive MBA program is career coaching. Students meet with Booth career coaches to navigate the next steps in their career journey, be that advancing in the current companies or industries, pivoting to a new opportunity, or starting their own business.

Speaker: Question nine. How will I balance my time between work, school, and personal commitments? Pursuing an MBA while also working full-time and balancing personal commitments definitely requires careful time management. Beyond attending class sessions, our students report spending one to two hours on most weeknights, doing homework problems, working on case studies, or reading for class. Our alumni recommend making sure everyone in your life, from your supervisor and colleagues to your family and friends, understands this constraint on your free time and is supportive before you decide to pursue the program. As students pursue their degrees, the program provides support. First, every student is assigned to a study group of five to six people each quarter. Students meet with their study groups during class weekends and usually at least once in between class sessions to review homework and prepare joint assignments. Study group members can help when you're stuck on a problem or stuck at work and need to catch up quickly. Also, Booth professors and teaching assistants are readily accessible to help students understand class material, and career coaches are available to support students as they navigate challenges at work or prepare for their next professional opportunity. At the end of the day, faculty, staff, and fellow students are on hand to help manage time and maximize your experience.

Speaker: Question 10. What is the value of a Chicago Booth Executive MBA? Is it worth earning the degree? Students are the best to speak to the return on the investment of an Executive MBA from Chicago Booth. According to Andrea van den Haak, class of 2021, quote, "The ROI that I received from the Chicago Booth Executive MBA was the network. There is no problem that I can't solve with the Chicago Booth Alumni Network, personal or business." Michael Diarra, class of 2022, adds, "My personal ROI is threefold, the network, the tools, and the reputation. As an entrepreneur, I see myself using these tools that I've learned through the program every day." Finally, Kok Kin Lee, class of 2020, sums it up as follows. Quote, "When I took the program, it became quite clear that I could make good decisions because of the multifaceted learning that I gained from Booth. That was really what Booth gave me. Things that I thought I couldn't do became possible." We hope to have answered many of the questions you have about the Executive MBA program here at Chicago Booth. If you would like to learn more, please consider signing up for a CV review with an admissions advisor, attending another admissions event on campus, or virtually emailing us with any other questions that arise and starting your application. Our admissions team builds one cohort over the course of four application deadlines throughout the year. The first deadline is in October, followed by January, April, and June. Please reach out with any questions about the Executive MBA program and the admissions process. Thank you so much for attending this session today. Please reach out with any questions at any time. We're always happy to assist. We hope to hear from you soon.