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2011 Summer Update

Two years into the JD-MBA program, we’ve all finally come to realize how busy things keep being. In our first years we were 1Ls, which in most cases speaks for itself.  The following summer we had full time course loads in addition to many other activities. In my case, I had that and a full-time job at a law firm. In our second year, we were all first year students again but this time at Kellogg, where things were faster and more competitive than ever before. And this summer, most of us looked forward to having more free time. Except in my case, I decided to split my time at two jobs, launch a new website/company, and take a class at all at the same time. And as a result, the busy-ness has not stopped.

At long last, the JD-MBA program is two years in and our last summer is coming to an end. I spent the first half of my summer working at a consulting firm. Fortunately, my project was local which was nice because I got to come home every day. On the other hand, it also meant I had more time to work more hours and it also meant my commute was longer since I still live in Evanston and not downtown Chicago. Either way, this past week was my last week at the firm, so I look forward to starting my law firm gig in just a few days.

However, there is still one thing standing in between me and my time at the law firm, and that is a final exam I have on Monday.  The exam is for my class Administrative Law, a Constitutional Law class that not only requires a lot of reading but also a lot of writing, at least for the final exam. I’m looking at old practice exams now and it looks like I still have quite a bit of studying to do before the Final Exam on Monday. The exam takes place from 6pm to 9pm, just about one hour after I finish my first day at the law firm.

I am also working a lot this weekend on the website/ company that I am launching. At the moment, I’m in the process of looking for web developers for the site. Someone who not only build the site but also help maintain it in the short run in case I need updates or fixes. It’s taking a surprisingly long time to go through all the emails and figure out who the right person is to help out.

In addition to that, I also have to start shopping for items I’ll need for my KWEST trip. As I’ve mentioned here before, we’ll all be headed to Ecuador in just a couple of weeks, and I’ll need a large array of outdoor apparel, including boots, shirts, backpacks and toiletries.

And finally, I also have to choose classes for next year, a process which is much harder than it sounds. I have to balance my units at the law school with those at Kellogg. I have to be sure I satisfy all my law school requirements – Perspectives class, Professional Skills class, Ethics class, etc. I also have to think about how much to bid for my legal classes and pick teams for my Kellogg classes. A lot more complicated than I thought it would be.

As you might suspect, it sounds like this week is going to be hectic and that August in general is going to be a crazy month just like it was last summer. But either way, I can’t complain. Because just when August ends, things pick up even more. Not only does law school start, but then KWEST happens. Then recruiting also picks up. And then Kellogg classes begin.  It will be interesting to see how everything plays out over the upcoming weeks.

But perhaps more interesting is the fact that we’re all pretty far along the way now in the JD-MBA program. I can’t wait to see where all my classmates end up. I look forward to sharing more about it in the upcoming months. Stay tuned!

Northwestern Law Announces New Dean Daniel Rodriguez

After almost a year of searching, just last week, Northwestern Law school named a new Dean, Daniel Rodriguez. This comes after former Dean David E. Van Zandt ended his 15-year tenure as dean of Northwestern Law last year.  While Dean Van Zandt will definitely be missed by the students, faculty and administration at Northwestern, everyone still agrees that it’s very exciting to have the new dean.  Not only is Dean Rodriguez professionally accomplished but he’ll also bring a fresh perspective and net set of experiences to the school.

Daniel Rodriguez will take the post Jan. 1, the university said in a news release. And it sounds like everyone at Northwestern can’t wait to for him to arrive.  Northwestern Provost Daniel Linzer said “Northwestern President (Morton) Schapiro and I are extremely pleased that professor Rodriguez, who is known nationally for his legal scholarship and public law work, has accepted our offer. We are confident that his talents are well suited for leading our great law school.”

One reason everyone is excited is because the new Dean is very accomplished. Currently, he holds the Minerva House Drysdale Regents Chair in Law at the University of Texas School of Law. Rodriguez’s background is also impressive. Not only is he a graduate of Harvard Law who is published in a wide number of places, but he was also even named one of the nine transformational deans of the decade in an article by the ABA Journal. Above the Law wrote a similar article about him.

For current and incoming students at Northwestern, it will be interesting to see how things change over the next year or two. Will there be changes in the curriculum? Will the composition of the student body shift over time? Will Northwestern continue to come up with innovative programs that others schools haven’t considered yet?

It’s too early to answer all of those questions now. But it’s worth remembering that it was Dean Van Zandt was one of the early founders to the accelerated JD-MBA program at Northwestern. A program that not only caught on but that also took off. So much that schools like Yale, Wharton/Penn, Columbia and Cornell to name a few, have already followed in Northwestern’s footsteps to create programs of their own.

As a result, it looks like Rodriguez has some big shoes to fill.  But I’m sure he’ll be up to the challenge given his background, legal training, and diverse set of experiences. The only question now is, what is Rodriguez going to come up with next?

In anticipation of his arrival, just a few days ago, Northwestern Law also wrote a press release about the Dean’s appointment that it sent out to students. See below for the email that went out to the school.

Congratulations and best of luck to the new dean!

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To:      Northwestern Law Community

From:  NU Provost Dan Linzer

Re:      Northwestern University Announces New Law School Dean

It is with great pleasure that President Schapiro and I announce that Daniel Rodriguez, currently the Minerva House Drysdale Regents Chair in Law at the University of Texas School of Law, has accepted our invitation to serve as Dean of Northwestern University School of Law and Harold Washington Professor, effective January 1, 2012.  He succeeds David Van Zandt, who had served as the Dean of the school from 1995 to 2010, and Kim Yuracko, who has been serving as interim dean of the School and will continue to do so until the end of the calendar year.

Professor Rodriguez, a graduate of the Harvard Law School, is a nationally prominent scholar in administrative law, local government law, and state constitutional law.  He is a leader in the application of political economy to the study of public law, and he has authored and co-authored a series of influential articles and book chapters in this vein.

Before joining the University of Texas law faculty in 2007, Rodriguez served for seven years as Dean and the Warren Distinguished Professor of Law at the University of San Diego School of Law.  While serving as Dean, he expanded the size and stature of the faculty, created interdisciplinary programs and new academic centers, and undertook the first major capital campaign for the law school.

Before becoming Dean at the USD School of Law, he was a tenured professor of law at the University of California, Berkeley (Boalt Hall School of Law).  He has been a visiting professor at the University of Southern California, Illinois, and Virginia law schools, as well as at the University of California, San Diego and the Free University of Amsterdam.  During the Spring 2011 semester, he was the Stephen & Barbara Friedman Visiting Professor of Law at Columbia Law School.

In addition to his scholarly work, Professor Rodriguez has consulted with federal, state and local agencies, has served as an expert witness, has testified before Congressional committees and legislative working groups, and has served in various professional leadership roles, including as a member of the Executive Committee of the Association of American Law Schools and the Council for the ABA Section on Administrative Law and Regulatory Practice.  He is an elected member of both the American Law Institute and the American Bar Foundation.

We are very excited about the appointment of Professor Rodriguez as Dean of the Law School.  Please join me in congratulating him and welcoming him to Northwestern University.  Please also join me in thanking Interim Dean Kim Yuracko for her outstanding service, and the search committee, and particularly chair Shari Seidman Diamond, for the committee’s excellent work.

Emanuel Pleitez Helps Launch the Loft Institute Social Network

I have been fortunate to get to know some incredible professionals from the Stanford and JD-MBA networks, and I’ve talked about a few of them on the site before.  Well another one of them is good friend, and up-and-coming political organizer Emanuel Pleitez.  Emanuel is one of the few people I know that has thrived both in business and also in the public sector.  Since graduating from Stanford, Emanuel has not only spent time firms like Goldman and McKinsey but he has also worked with a number of community organizations. Recently, he even teamed up with the Hispanic Heritage Institute to launch social network, named the Loft Institute.

So you’re probably wondering, what is the Loft Institute?  Well a number of themes emerge.  It’s a network of hispanic professionals. A database of job and networking opportunities. And more broadly a way to bring fast track professionals together. The name Loft means “Latinos on the Fast Track.” And the mission of Loft is to reestablish the American workforce as a global competitor by investing in the youngest and fastest growing segment of the population – the Latino community.

Emanuel has some lofty goals for Loft. He’s using it to create leadership summits in big cities around the country. As a way to get Latino leaders in the same place at the same time. And as a venue to get young professionals and students from around the country to network with each other. In fact, Loft even came out with a new list of Loft Fellows to help do that just days ago.

Fortunately, it sounds like these goals are not far-fetched, as Loft has long been making an impact, even before the launch of the new website. Over the last six years LOFT Institute has had member all over the country. they work in government and private sector firms, as well as in Fortune 500 companies. They also in industries including engineering & technology, healthcare, retail, sales, business, finance, construction management, public service, public policy, and entertainment.

In addition to going to the Loft website Emanuel also maintains a blog and a Twitter Account, where he actively write updates about Loft. Likewise, in the future, you’ll probably also be able to find more information about Loft here on my website, as I’ll be helping as a new media advisor to the site.

In sum, if you’re have an idea that you think can change the world, be proactive and go for it. And even if you have a job that demands most of your time, figure out how to do it anyways. Because the best business leaders know, that its not just about doing well but it’s also about doing good. And that life is not only about making money and negotiating deals, but it’s also about helping others along the way.  And in the end, leaders will do whatever they can to make that happen.

Best of luck with Loft Emanuel.

Cape Shore Foundation’s Race to Support the Environment

Hey Everyone, hope all of you are doing well.  As you know, I often like to spread the word, not only about things happening in business school but also about social enterprises that are changing the world. Sometimes world reknowned organizations that you’ve all heard about but other times about up and coming organizations that are having a big impact on their local community. Well, one of those local organizations in Boston is The Capeshore Foundation and my JD-MBA classmate Jon Wakelin is one of the Directors. As such, I thought I’d use my site to spread the word about the upcoming event.

Cape Shore Foundation is a 501(c)(3) non-profit organization that was founded in 2007 by a group of friends from Maine. Because they feel fortunate to have grown up in that environment, they wanted to use this nonprofit to help future generations have the same opportunity.  Well, one way they raise money is by having a 5k race every August in Boston. This year, that race is being held on Saturday, August 20, 2011 @ 9:00 AM in Artesani Park (1234 Soldiers Field Road Brighton, MA), and I highly recommend that any readers in New England consider attending.

CLICK HERE to learn more about the race

CLICK HERE to learn more about the organization

And see below for an email that went out to past participants

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Friends and Supporters-

If you’re receiving this e-mail, you have supported CSF in the past, whether it be through our Annual 5-K or one of our community cleanup events.  We truly thank you for your support, as you have helped us raise nearly $10,000 for local land trusts.  With your help we hope to increase our annual giving, and this year we have selected the Androscoggin Land Trust as the recipient of race proceeds.

CSF 5-K: This year’s 5-K will be held on Saturday, August 20 at 10:00 AM at the Artesani Park in Brighton, along the Charles River.  Here are some details

• Register for the 5-K here, or visit our website at www.capeshorefoundation.org.  (Note:  We’ve left Active.com for greener pastures!)
• Great prizes for the top 3 finishers (men and women) in all age groups (10 pairs of Reebok Shoes, Whole Foods gift certificates, pint glasses, and more)
• All registrants will get a free t-shirt!

Thank you for your support and we hope to see you all on Saturday August 20th!

Sincerely,
The CSF Team

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Cape Shore Foundation
www.capeshorefoundation.org

Compass Summit Assembles Thinkers To Address World’s Vital Challenges

Every now and then I like to write posts about nonprofits and other game changing organizations that are doing really interesting things. Organizations that not only take on the biggest issues of our day but also organizations that bring diverse people together to work on the biggest issues of the future. Well one of those organizations is Compass. And just recently, I learned that they are putting on this year’s Compass Summit, a conference that discusses “what’s possible, what’s ahead, and what matters.”

The Compass Summit is a conference of big ideas, driven by conversations.  The organization is asking our partners as well as participants to expand their peripheral vision of other fields and to look over the horizon to consider what matters most and where the world should be heading. The conference will run from Oct 23-26,2011, at The Terranea Resort, right outside of Los Angeles.

My college friend Sophia Larroque is helping to organize this event.  As such, I figured I’d pass along the word to those readers here on my site. Below is an email I received directly from her about the summit

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Compass is a gathering of accomplished and inventive people aimed at  tackling urgent large-scale challenges facing our institutions and companies: climate change, mass urbanization, capital shortages, technological dislocation and much more.

Former Fortune editors Brent Schlender and Peter Petre are joined by Scientific American editor-in-chief Mariette DiChristina and her staff to producing Compass, and many of the ideas explored at the conference will be reflected in autumn issues of the magazine. With the help of advisers and sponsors including McKinsey & Co., SWIFT (the Society for Worldwide Interbank Financial Telecommunication), Intel, and the World Business Council on Sustainable Development, we are crafting a program to engage topics as diverse as:

Choosing Classes at Kellogg and Northwestern Law School

Since the first day we stepped foot in Chicago, we all realized that we had a more limited schedule with classes that were curved, some that were required, and others where we could only be at Kellogg or the law school. Well this year things are changing just a bit. Not only do we get to pick every one of our elective classes but we also get to split our time between Kellogg and the law school. But despite being happy to finally have choices, for some, this is proving to be a daunting task given all the moving parts in the process.

With our final year in the JD-MBA program on the horizon, it’s finally time to bid for classes. We just started getting emails from Kellogg and from the law school over the past week or two. And as of now, we don’t have much time left before we have to start making some decision! Bids for Kellogg are due next Wednesday, just a few days from now. And law school bids are due in about two weeks. As such, a number  of JD-MBAs are spending a few hours thinking about classes this weekend.  Deciding which classes we want, planning our classes to align the schedules of both schools, and thinking about what classes they want to take before we are done with the program.

One class I’m considering is Entrepreneurial Law. On one hand, it’s one of the more popular and interesting classes at the law school.  On the other, it will probably cost me a fair amount of points. I also plan to take Negotiations and at some point this year Executive Compensation law, given my background on the topic and expertise of my law firm, Vedder Price.

Another class I’m considering is entirely new to Kellogg called Social Dynamics and Networks.  Just last year, the class was introduced by my MORS Professor (Uzzi) and it looks like it’s shaping up to be really interesting. And who could think of going through Kellogg without at least considering the class Managerial Leadership, by Harry Kraemer, executive partner at Madison Dearborn and former CEO of Baxter.

In general, most students hope to get a good academic experience but also want to have a bit more fun this year. After two grueling years of curved classes, struggling to learn new concepts, and tirelessly searching for summer jobs, some Js really want to focus on taking courses they want. Not just those that put them in the right place professionally.

Sounds exciting, right? Well, not too fast. Like most things, there are also some challenges.  The process of picking classes where the time works at both schools, where you have enough bid points, and where you end up content, not only with the class material but also the workload and professors is not always easy.  Similarly, some of might also have to think about recruiting now, which happens at both schools in August and September.

But either way, it’s a fun time to be in the program. And it will be interesting to see how things play out for us over time. So stay tuned to hear what happens! And best of luck to everyone that has to choose classes.

BeatTheGMAT and ClearAdmit.com Team Up on New Admissions Product

As you know, I spent a lot of time on my site writing about MBA admissions. Well rather than discussing topics that are on my mind today, I figured I’d devote this entry to promote two other organizations that give information and advice about the MBA application process. Recently, the BeatTheGMAT teamed up with ClearAdmit.com to launch a new product which looks like it’s going to be a hit with a lot of applicants. I also think it has the potential to be a great product, as I recently had a chance to do a review last weekend before the product came out.

Just a few days ago, BTG asked me to do a product review of their new MBA admissions tool – a class that is entirely online and that walks the user step by step through every part of the admissions process. BeatTheGMAT has been growing exponentially over the past year, and it sounds like they plan to continue to do just that with this new product. Here below is a short summary of my initial impressions.

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The good: The BTG and Clear Admit class does something that no admissions service has done before – they bring together admissions advice with the internet, allowing people to tailor the experience and leverage online to accommodate their busy lives.  They bring in graduates of top MBA programs and admissions teams to take you step by step through the application steps. And they tackle topics that are not only the ones most people are thinking about in the application process but also some you wouldn’t initially consider.

The bad: Admittedly, the online experience may not be for everyone. Some may prefer a real classroom experience, where you can change the direction of the class and go through Q&A as needed. Some people may simply find the internet to be distracting. And others may want to go through the experience/to a class with a group of people rather than by themselves.

More: Online social networks and classes are generally expected to be the wave of the future. This online network allows you to the service when you have free time. You can start watching classes as soon or as late in the process as you would lie to. You can watch and rewatch parts as needed depending on your level of understanding. You can take more notes on your computer as you watch to make sure you capture what’s being said. In addition to that, you can also access the material any time, A slides and outlines are downloadable and printable.

Another main benefit is the fact that the class has multiple instructors. While most other classes provide you with one main instructor, here you get to learn from three different experts, all with unique insights and  experiences in the admissions world. And together, they’ll tackle topics like how to research and select MBA programs, how to write your admissions essays, how to find letters of recommendations, how to market yourself in applications, and much much more.

If you do decide that an online class is for you, then Navigating the MBA Admissions Process might be a good option. The price is not cheap, but $249 is less than you might spend on some other types of MBA courses. You’ll just have to decide what works for you.

To learn more about the product CLICK HERE

And to learn via YouTube CLICK HERE

Apply to Work in Venture Capital as a 2012 Springworks Scholar

Venture capital has long been most of the most alluring industries in America.  Not only are the payouts high and the work satisfying but you also get to work with some of the most innovative clients on the planet.  So people spend months, sometimes years, looking for ways to break into the industry. Some network with every firm they can possibly get in touch with. And others submit applications year after year hoping for that one shot. Well, as of this year, another way you can break into the industry is by participating in the Springworks Scholars program.

Springworks is a San-Francisco based non-profit focused on increasing diversity in the venture community. Just recently, the firm has launched a scholars program for incoming MBA students to give them access to the venture community.  Founded by Kellogg alum, Jorge Calderon, this program looks to be a groundbreaking opportunity.

As I mentioned in a recent post about the Morgan Stanley Insights program (CLICK HERE to read that post) I love these programs that seek to improve the diversity in the labor force. They provide students and young professionals with access to new channels and resources. They give opportunities to people who might otherwise not have a chance. And they give hope that we can all pursue the American dream.

But there’s only one catch. You have to finish the application right away, as it is due in just a few days on July 15. See below for a blurb on the program and for the link to the application:

Our first initiative, the Scholars program, is designed to identify, develop & support ‘under-targeted’ (currently defined as minority or female) business school students interested in either venture capital management or start-up management.  This two-year program is intended to augment the resources provided to students at their respective universities with additional coaching, mentorship, peer support, curriculum and experiential learning.

For the online application, click here.

For the summary PDF, click here.

Leadership: How To Start A Movement

Leadership is one of the topics I write about most here on my website. How leadership is not only something that’s important but also that it can come in many forms. In one example of this, I recently found a video from TedTalks named “How to start a movement.”  The idea of this video is to show that being a leader means starting something that attracts attention, gets a few followers, and eventually hits a tipping point. That process isn’t easy, but in just three minutes, this video shows you exactly how that phenomenon plays out.

I’ll also note that I stumbled across another blog that listed the same video. I don’t know the writer but she has some interesting content on her site, so thought I might add the link HERE in case any of my readers are interested. The blog is written Erica Dhawan who is in the MBA/MPA program at MIT/Harvard in Boston.

Without further ado, see below for the video.

The Leader Who Had No Title

I wrote this post to put up one of my favorite short video clips online. The name of the video is the Leader Who Had No Title. It comes from the website of Robin Sharma the leadership guru who not only create short videos but also writes books about leadership. One reason I like this video is because it’s pretty inspiring. In today’s business world, most people do what they can to get ahead, get promoted, make more money and get a better title. But this video reminds us that those things aren’t as important as impact. And that you don’t need a title to make a difference.

Deep Dive

Ever heard of the terms “bucket,” “scope”, “T-shirt size” and “baseball cards”?  These are all words that are not only used in the consulting industry but often overused.  Incoming consultants are expected to learn them quickly. Even summer MBA consultants are expected to pick them up right away when having discussions with project teams. That’s definitely been my experience this summer, and one term that has specifically stuck out is the phrase “deep dive.”

One word that I’ve heard of a lot this summer is the term “deep dive.” Doing a “deep dive” means doing an in-depth exploration of a particular topic. Sometimes it’s learning more about the specific industry your client is in. Other times it’s learning about a particular function or business model that you don’t know much about. And sometimes it’s learning about a really technical topic.

Learning about all of these can be pretty challenging on their own. It’s even more challenging to do deep dives in more than one, such as a new industry and a new function. From experience this summer, I am actually working in all three areas. Not only am I working in an industry I don’t have experience in but I’m also working in a new functional area and it’s a topic that enormously technical. So in some ways, it’s a really really deep dive.

As a result, I’ve spent a lot of time reading up on the industry and its issues. Writing and rewriting slides where I didn’t have enough technical understanding. Sitting in on meetings and phone calls trying to figure out exactly how everything works at the company.

In some ways it’s fun to learn and in other ways it’s frustrating. But in some ways that’s the life of a consultant. Always learning. Often changing industries and functions, some of which you enjoy and others that you may not. And working through new business models.

In sum, consulting is filled with deep dives.

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For your reference, CLICK HERE for a list of other words that are used in consulting.

McCormick Scholars Program and Northwestern

Hey Everyone,  I hope you are having a good summer and fourth of July weekend. My summer has been busy. That’s because summer is in full swing, so business and law students are working hard at their summer jobs. That means that we’re getting up early everyday, making long commutes into the city from Evanston, and working long hours to meet deadlines, and perform well. Sounds like an enormous task, right? I think so too. But despite that, I’m also working on another project.  As the 2012 McCormick Scholar, I’m also working on a pretty large media project that I just kicked off this summer.

Just a few weeks ago, I found out that I was selected by the McCormick Foundation as 2012 scholar. The McCormick foundation was program was established to educate a new generation of leaders in the media industry and continue the foundation’s support for journalism at Northwestern. The website says that the awards “bring to almost $32 million the amount the foundation has awarded to these programs in the 50 years since the foundation was created in 1955” and that “twenty full-tuition merit scholarships will be awarded over the next ten years to business students and they will be awarded based on leadership potential and commitment to a career in the news media.”

To be considered, I had to submit a pretty extensive application this past spring. The application mirrored an MBA application, and included submitting things like a resume, data sheet, essays, and recommendations. I personally spent a good part of my time crafting the essays, partially because I really wanted to win but also because the essays were related to things I was really interested in. The challenging part was that the application deadline fell right in the middle of the on-campus interview season at Kellogg, so it took a lot of effort to work on both. But all the work was worth it in the end when I found out that I had been selected.

In addition to the money and prestige of the program, the best part of the scholarship is that it offers funding for a media project I’m working on.  I spent a lot of time refining my idea, formulating a plan, and figuring out who else to get involved. Over the course of a few weeks, I’ve refined some of the details and found other similar initiatives to see what made those successful. For now the project is in stealth mode, but once it’s up and running I will plan to share more about this project.

Either way, thanks to the McCormick Foundation for the funding. Thanks to Kellogg School of Management and The Medill School of Journalism for the opportunity. And thanks to the faculty and former scholars for selecting me. I appreciate your support and look forward to being part of the community.

Stay tuned for more details about the project. And be sure to apply to the program, if you come to Northwestern and media is something that your interested in pursuing.

Tags: internet, Kellogg, Mccormick, media

When Do People Come Up With Ideas for Companies?

I’ve often wondered about that moment when the light bulb goes off for entrepreneurs. The minute when they first come up with their “big idea” that they thought could make them millions. The second they feel so compelled to take the “leap of faith” that they have no other choice but to do it. That instant when they realize they have an idea that just might change the world. Not surprisingly, those moments are quite different for everyone.  As a result, I wanted to take a few minutes to brainstorm a list of times when people come up with ideas for companies.

Below is  list of times when you might possibly come up with an idea for your next company.

1. When you spot something on the job that doesn’t work well and come up with find a way to fix it
2. You find something that frustrates you, that’s hard to use, and that could be better. So you make it better
3. When you’re laying down at night and can’t sleep, so you dream about your company
4. When you don’t have a job and have extra time, so you figure out how to start a company
5. In business school you see your classmates coming up wit ideas, so you come up with a similar one
6. Before business school so you can use the next two years to successfully launch a company at graduation
7. When they are tired of the corporate world so spend every night thinking about ideas so they can escape it
8. As an entrepeneur-in-residence at a VC firm, in business school, or any other organization
9. When you are painting, drawing, or doing anything else that lets your mind wander and be creative
10. When you set aside an hour of brainstorming time every day and one day everything comes together
11. Bouncing ideas around with friends or colleagues who are also in the entrepreneurship community
12. After spending years in an industry and getting a sense for the future
13. Technology changes and creates new opportunities for innovation in your field
14. During economic booms when people have more money to spend, so you create a place for them to spend it

Deadlines

One thing I’ve learned about business school is that there are a a lot of deadlines. Not only do you have to get a lot of things done but you also have to do them on a very specific schedule – two days to finish this, five days to finish that, three hours to finish something else. That concept also holds true in the business world. Especially for MBA-level jobs, where you’re given multiple workstreams, multiple emails, and multiple priorities, but just one job: to finish all of it on time.

I’ve written about how busy business school is before. In one of my favorite posts, I compared “business” school to “busy-ness” school (CLICK HERE) and how becoming too busy is actually bad for you. Well, in some ways that analogy also translates to the job you have. Not only do you feel just as busy as you are in class but you also put more pressure on yourself to do well because the stakes feel a little higher. You want to produce a quality work product. Make a good impression on your team. Ensure you do good work and your manager gives you a good review. And in the end get an offer, even if you don’t plan to accept the job.

But the real question then is at what cost? For some, they get it by doing exactly what they expected. But for others, that cost is running around scrambling to please everyone even if that’s not your personality type. For others, working more hours than you ever expected or wanted. Taking on more and more work from more and more people. And ultimately taking on more deliverables with quickly-approaching deadlines that would seem unreasonable to anyone not in business school.

Here’s the schedule. Follow it! Here’s the email documents for tomorrow. Read them all by 9am! I just sent you ten calendar invites. Accept them! And be on time!

And because you have multiple deadlines, everything becomes more important, so you speed up. Working like a machine, for a machine (boss), in a machine (company), with other machines (coworkers) who are all doing the same thing.

And eventually, the goal isn’t to produce a great work product. But instead to take on more workstreams than before, to work more efficiently than last time and to make better powerpoint slides and excel models. And once you finish that, then you can do more.

So in some ways, the MBA has become the new assembly line.  You move things forward as fast as you can. The  work becomes more specialized to help you speed up, so you only take part in a small part of the process. And things more automated.

Likewise, the work also never stops. Just like Toyota “never stops the line” a company’s project flow doesn’t stop either. They find more people to do more small parts. Buy new systems to increase their efficiency. And leverage operations technicues, such as optimal batch sizes, flexible resources, and critical path times, to keep the line moving as fast as possible.

But what if your company stopped the line on purpose tomorrow. And instead of figuring out more deadlines to give you, instead allowed you to spend all of tomorrow thinking about mind-blowing innovations for the company.  And what if your job wasn’t simply to hit twenty deadlines but instead to submit 20 game changing ideas that could change the company.

Not only would you be better off but I’m guessing the company would be better off. And if you had thousands of smart people doing this at the same time all over the world, then maybe the world would be better off too.

Just a thought. Maybe something to think more about when you become CEO of your company.

But until then, I need to go check my calendar to see what deadlines I have for work today.

Reasons a JD-MBA Might Choose Law Over Business

The number of students interested in JD-MBA programs is increasing faster than ever before. Not only is the degree combination becoming more popular, but more and more schools are also offering programs increasing the overall number of students.  But despite that rise in popularity, JD-MBAs will always have to face one tricky dilemma – they will eventually have to choose whether to enter law or business upon graduation. For some the answer is obvious. But for most, choosing the right move is more difficult … like picking your next move in a game of chess. Not only do students have to determine what career is the best fit, but they also think about which pays the right salary, aligns most with their skill set, and sets them up to reach their career goals, not only in the short run but also in the long run.

The number of JD-MBAs that go into law versus business typically differs by school. That’s because some schools are located in regions where law firms are more centrally located, while other schools may have a better law school or business school in terms of ranking or recruiting. Further, the number also changes with the economic times, as the job opportunities ebb and flow in the respective industries.

Historically, many JD-MBAs have gone into business. That’s because in the long run, many JD-MBAs see business as a more lucrative path and think that a business career offers more work life balance. Likewise, many JD-MBAs also enjoy the MBA portion of the JD-MBA program because that portion is usually more social and less combative.

But not all JD-MBAs go into business. In fact, at Northwestern the split has historically been closer to 50/50, where about half go into law and the other half into business, and sometimes more than that the summer.  As such, I’ve decided to come up with a list of some of the possible reasons a JD-MBA student might make this decision.

Note that the list is not comprehensive.  Further, the bullets on the list also may not represent prevalent reasons that students choose. Instead it’s simply a list of some of the things that came to mind as I was writing the post.

1. Law firms pay a higher average base pay out of graduate school
2. You’re going to be an associate anyways and you prefer writing and reading to doing math
3. Your background and/or skills are more aligned with the legal profession
4. The law firms wined and dined you during recruiting and you couldn’t resist (this could apply to anyone)
5. You know that you can always move to business fairly easily if you don’t like law
6. You have an interest in government or politics and think law seems like a logical first step
7. You want to learn deal-making but don’t want to be an investment banker or work in private equity
8. You’re used to working long hours so you were up to that challenge
9. You watched Law and Order growing up and always wanted to see what it felt like to be a lawyer
10. You want to try it out for the summer and plan to recruit again next year if that doesn’t work out
11. Many of your JD-MBA classmates decided to try out law so you didn’t want to miss out (FOMO)
12. Your parents were lawyers so you want to be one too
13. Law school recruiting happens first. So once you got an offer you decided to take it and stop recruiting.
14. You have a good business network and could make a lot of money if they eventually became clients
15. You go to a school that offers a lot of good business-law classes and want to see how it works in practice
16. You are interested in business but want to distinguish yourself first

Feel free to comment if you have any additional reasons.

And good luck with whatever route you decide to take!

Reasons to Go Back to Business School

A lot of people think about going back to business school, but not all of them actually do. Some defer their admissions for a year.  Others wait until later years to apply. And some people never actually end up applying at all.   But no matter which category you fit in, many of you have still probably considered going back to school. And as such, I thought I’d brainstorm the reasons why some people consider going back

A couple of things to note. First, the list is not comprehensive. There are plenty of other reasons other people might rely on when making the decision. Second, some of the reasons might be more applicable to you than others. Likewise, some probably dont’ apply to many applicants at all. And finally, any combination of reasons could also be relevant to you. And in my case, a couple of the reasons came to mind when I was applying. Either way, I thought it’d be fun and entertaining to share that list here with you.

Without further ado, below is the list. Do any of these reasons apply to you?

In Search of Questions from Readers

Regular readers know that in addition to discussing school, career, and leadership topics, I also spend lots of time answering questions on my site. Particularly questions about MBA admissions.  In fact, I recently looked at some of my most popular posts, and noticed that multiple posts in my top ten were those where I answered questions from my readers.  You can see examples of that HERE, HERE and HERE, among other places.

Well the good news is that I want to do more of the Q&A.  However, starting at some point over the next few weeks, I’ve decided to try a different approach to my Q&A posts. Instead of writing out all of my responses, I plan to leverage more audio and video here on my website. In this manner, I’ll be able to answer questions faster than usual. And I’ll also be able to answer more questions than ever before.

That said, please feel free to send in any questions you have regarding admissions, recruiting, or anything. Likewise, if you know someone who can benefit, I hope you’ll share the site with them. The MBA application process is about to get under way, so I’d love to hear what types of questions you have.

Best of luck everyone!

Wildly Important Goals

One thing I’ve learned in graduate school is that its important to have goals. Goals about what you want to accomplish, what industries you want to work in, which people you want to meet, and which classes you want to take. That’s because with goals, you have a clear sense of what’s important and you can make sure that you get a lot more of those things done. But sometimes, even having goals isn’t enough if you have too many of them. And so often times you need one goal that’s far more important than the rest.

One way I like to think about it is with the term WIG … otherwise known as Wildly Important Goals. I use the term WIG to describe those things that I’m most interested in pursuing.  The game changing ideas that you want to relentlessly work toward for as long as necessary. The ones that not only keep you up randomly until 3am when everyone else is sleeping but that also wake you up at 5am when the sun hasn’t risen yet. In business school, they’re the ones you skip the best party of the year to work on when everyone else is out.

Over the past two to three years, I’ve done my best to always have a WIG.  I had one coming into the JD-MBA program in law school my first year. I had one this year at Kellogg and pursued it even in spit of core classes and recruiting. And I have a new one now that I am working on for twelve to fifteen months.

In my view,  some things in life are worth spending the extra time on. Fine-tuning every detail for. Becoming an expert at. And giving it your all.

Because as you continue to progress in your career, the competition gets harder and the people get smarter. And as a result, it become much harder to achieve all your goals. Especially the worthwhile ones that the smartest people pursue.  So if you want to do well, sometimes you have to hone in. And if you want to hone in, then you have to make a point to pay special attention to it, especially in the midst of all the chaos surrounding you at school and at work. One way to do that is by identifying an important goal well ahead of time  and then working relentlessly to achieve it.

That’s what I mean by WIG.

So … what’s your WIG?

What woke you up today at 5am?  And will you be up at 5am tomorrow working on it again?  I’m sure your competition will be.

Summer is Finally Here

At long last, after nearly a full year taking classes at Kellogg, the summer is finally here. After months of taking core classes, fighting to stay at the top (or sometimes middle) of the curve, attending as many social events as possible, and battling through the recruiting season, we all finally finally made it to the summer and get to enjoy a break from all the hustle and bustle of business school.

For JD-MBAs, this summer is specifically exciting, as we didn’t get a traditional summer last year. With me being the exception, none of the JD-MBAs worked full time last summer but instead spent more time focusing on classes, both at the law school and at Kellogg. So this summer, it’s finally a chance to go out and make a difference in the workforce.

Likewise, my Kellogg classmates are also quite thrilled to be working. To have the chance to test there interests and see what new things they are actually interested in. And in some cases work on changing careers. It’s also a chance to make money again, probably more than many students made before coming here.

In general, a lot of classmates will be going into marketing and consulting. Others will be pulling long hours in the investment banking industry. And others will test their leadership skills in general management positions, start-ups and nonprofits.

Geographically speaking, Chicago is always a popular summer choice. The Facebook group that I administer currently has about 135 people in it, which is the highest of any geography for summers. As you might suspect, New York and the Bay are also very popular choices for summer internships for Kellogg students. Though as you might not expect, places like Los Angeles, Minneapolis, and Boston are also fairly popular choices.

Personally, I am staying in Chicago, and I just started one of my summer jobs this past Monday 13th, which was a pretty popular start date for my classmates. Like many of them, I’ll also be working in the consulting industry, and fortunately I recently found out that I won’t be traveling all that much for the summer. For the second half of the summer, I’ll head back to the legal industry again, not only to get more legal experience but also as a way to keep both options on the table for next year.

But perhaps more important for me is the fact that I’ve got a few big picture things on my mind too.  As a 2012 McCormick Scholar, I have the opportunity to do a research project for both Kellogg and Medill. And the idea I have in mind is quite big. Furthermore, I also have an idea that I might undertake related to the JD-MBA program, so check back periodically to see how that idea play out.

Either way, it looks like for me, as well as for a lot of other Kellogg students, the work doesn’t end with finals week last week but instead continues throughout the summer. Stay tuned to hear how the summer turns out.

Top Kellogg Employers From 2000 – 2010

Just a few weeks ago I wrote a blog post that discussed where students from Kellogg went to work for the summer and upon graduation.  As a follow up to that analysis, I thought I’d also do a bigger one. This time measuring where alumni have gone not only for the past year but also for the past ten years. While some of the results might be surprising, on the whole most of them are probably things I could have anticipated.

I’ve always suspected that a lot of Kellogg grads go into consulting. But after running the numbers, it turns out that a great majority of alumni do. McKinsey, Bain, BCG, and Deloitte are at the top of that list.

It’s important to keep in mind that this analysis doesn’t take into account where alumni began after school. But instead it measure where they were as of the date of the survey, in 2010. Likewise, it also only captures data from those who provided responses to the survey from the career center. Understanding that sometimes we all get busy, there will certainly be a number of alum that were not able to fill out the survey.

With that said, below is the data collected on alum from the past ten years.

A few points of analysis:

1. First, one interesting observation is that the top ten employers account for 28% of all people that have graduated from Kellogg in the past ten years. That is to say, the biggest employers are hiring a lot of students.

2. Second, the consulting industry is far and away the largest hirer of Kellogg students over the past ten years. Of all the students that went to top ten employers, 81% of them went to consulting firms. Not that this comes as a surprise given Kellogg has long been known as one of the strongest schools for those that want to recruit for the consulting industry.

3. Third, of all those that went to consulting firms 73% went to the Big Three consulting firms – Bain, BCG and McKinsey. From an absolute standpoint, that means that about 17% of all the population went to big three consulting firms.  And of those, nearly double went to McKinsey versus the next closest firm, which was BCG.

4. Fourth, it is quite surprising that neither high-tech firms nor marketing firms played a large role in the top ten list, as only Microsoft and Johnson & Johnson represent those functions.  On the other hand, it’s probably likely that the next ten employers are dominated by marketing and tech.

5. Fifth, financial services firms, e.g. Investment Banks also didn’t play a very large role. Two banks made the top ten list – Goldman Sachs and Merrill Lynch – but combined they have less than 10% of those that went to top ten employers. Perhaps on the surface that’s not surprising because many people don’t consider Kellogg to be a “finance” school. But on the other hand, the finance major is the most popular major at Kellogg.

6. FINALLY – services firms generally, generally accounted for 90% of the top ten employment stats (81% consulting + 9% banking).  This is not a large a surprise.  Top MBAs have flocked toward these careers for year, as these firms not only pay more but they are also seen as being launching pads into other careers.