Inside the Foster MBA

The Time Value of Joy

Ding! Anyone going to that launch party for that thing we worked on? Ding! No. Ding! Maybe. Ding! Let’s do 4-6 for our happy hour team catch-up. Ding! I’m out of town. Ding! RARRRR!!!!! Ding! Guess we’ll have to wait for the summer. Ding! Don’t forget to print the ticket for that event you signed up for!

The background noise of the Foster MBA is the perpetual ding of the gmail notifier.

Ding! Tech Club wants you to come to our event! Ding! Here’s a third reminder for that launch party. Ding! Congratulations to this year’s Leadership Fellows!

I thought I would never figure it out- how to juggle this constant influx of information- the outrageous flow of opportunity, commitment, connections, responsibilities, and tasks of all kinds. I remember the strange stillness that became of my life after I quit my job, sold all of my belongings in Detroit, and flew to Seattle with only two suitcases to my name and the idea that I would carve a niche for myself in the world with help from the Foster School of Business. “Niche” is the key word here. You can’t do everything in the MBA- so how do you choose?

Ding! We’d like to interview you tomorrow for an internship position. Ding! Yes, former president of my club, you are invited to Happy Hour! Ding! Friday works for me. Ding! I’d also prefer Friday. Ding! Yeah Friday! Ding! You’ll have to go without me. Ding! Great- see everybody there then.

Some things are obvious- clearly you want to pay attention when someone wants to interview you for an awesome internship. But, what about all this other noise? The clubs constantly bombarding you with scheduling; the speaker and networking events promoted by the program office; the coaching sessions solicited by the career center; the (sooo many!) contacts you can make with alumni, second years, partners of partners of business partners; cousins of classmates of alumni of classmates; special projects…

Ding! This project looks harder than I thought. I need help! Ding! When should we close the survey? Ding! 51 sounds like plenty of people to me. Ding! Let’s divide and conquer! Ding! Let’s keep it open- more is better! Ding! Here’s my valuation: what do you guys think? Ding! Something’s not quite right there… Ding! Here’s your add-code for that class you want. Ding! Should we get together Friday to talk about the next case study? Ding! Yes we should! Ding! I agree!

Also you have to do your classwork- there is that too.

Ding! Here’s your graded Accounting exam. Ding! What terminal growth rate did you use? Ding! What kind of speech am I supposed to give tomorrow? Ding! This kind of speech! Ding! Ok. Ding! We just heard that you were all too busy to apply for the India Consulting Project, so we’ve extended the deadline.

At times, it feels like triage. There is a constant flow of tasks coming in. You can’t possibly treat all of them at once, so you have to assess the severity of each. “This one’s critical! We need to operate now!” or “This one’s dead- just delete it,” or, and this one gets messy- “file this one for later.”

Ding! Time for the Foster Cup Cycling Event! Are you participating? Ding! Join us at the Student Budget Roundtable! Ding! We heard there was some concern about the club budgeting process- here’s a giant email full of words that you don’t have time to absorb. Ding! Thank you for taking my (four-hundredth) marketing research survey! Ding! Whoops- believe it or not, that giant email I sent a minute ago wasn’t done- there’s more! Here you go!

All of these emails came on May 15. And this is only a fraction of the noise when you consider that there are also classmates all around you promoting their own club’s events, and text messages and phone calls to boot. And don’t forget about those pesky professors lecturing at the front of the room! My calendar for this particular day included a 2-hour Accounting class, a 2-hour Marketing class, a meeting with my therapist (to talk about how overwhelmed I was) and (thankfully!) a birthday party including multiple artisan cupcakes, glasses of champagne, and an adorable newborn baby being all baby-like.

So how did I choose on this particular day how to prioritize? There is clearly a trade-off between being comfortable and happy now verses being successful and content later. Many people will often say- resist instant gratification! Sacrifice! Persevere! I say this:

Just as there is a time value of money, there is also a time value of joy.

Joy/(1+r)^t

Don’t forget that what makes you feel happy, accomplished, and at ease in the here-and-now is worth more than the same in the future. Also, it’s better to figure out who you are now- to connect with people over your interests, and to succeed at what really makes you happy today- than to guess at what will make you happy in the future and scheme and plot to put yourself into position to make that happen. That being said, the “r” in the above equation will be different for everybody. Some people will value present benefit over future benefit to a lesser degree than others. There’s no one right way to approach the MBA. Do I wish I could have done even more on May 15? Of course. But do I regret capping my day with a glass of champagne and a Neapolitan cupcake from Cake Envy? Absolutely not, because without a doubt, the relationships you build at Foster are the most important takeaways you can get. I guess what I’m saying is: that cupcake was a serious investment in my future.

~ Guest Blogger Edward Chinevere, Full-time Class of 2013, 2012-2013 Diversity Club President and Leadership Fellow

Posted by admin - July 14th, 2012 - 0 comments - Permalink

Operations Club Roast: Dillanos Coffee Roasters

Seattle is known for its coffee; maybe it’s the weather or maybe it’s because there is a coffee shop on every corner. Whatever the reason, one thing is for sure- Seattleites love their coffee and so do MBA students. As a Foster student, a delicious cup of coffee is never more than an arm’s reach away.

Dillanos Coffee Roasters was voted 2011 Roaster of Year by Roast Magazine and was featured in CNN’s “The Coffee Addiction.”

One Friday in May, the Foster Operations Club visited Dillanos Coffee Roasters. Our visit started out with a tour of the roasting operations; from the bean delivery to the distribution of packages. On the tour we saw machines that could roast up to 400 gallons of coffee beans an hour! We also so where Dillanos makes their flavored coffees. Did you know that coffee is like baking soda in that it absorbs any of the scents around it? Because of the absorbing nature of the coffee beans Dillanos makes the flavored coffee in a separate and sealed off room, away from the roasters.

After the tour we had a coffee tasting with the head roaster at Dillanos, Bjorn. Bjorn filled us on what he looks for when trying coffee samples provided by potential suppliers. Our group got to taste two coffees brewed in different ways to experience how different brewing methods alter the taste of the coffee. My favorite brewing technique is the pour over method although, once brewed, I do not turn down coffee no matter how it’s brewed.

Fueled by caffeine we spent the next hour or so listening to and speaking with Dillanos’ operations executives. We spoke about operating with limited inventory, the implementation of the balanced score card approach, and how cross training employees could lower costs. Between the tour, tasting, and conversation with executives the Operations Club’s appreciation of all things coffee got stronger and richer – just like, well, a nice cup of coffee!

~ Guest Blogger Jennifer Yanni, Full-time Class of 2013, 2012-2013 Operations Club President

Posted by admin - July 7th, 2012 - 0 comments - Permalink

A Time of Transition

There are a number of reasons an individual may choose to pursue an MBA. Here is one account of how an incoming first year student found her perfect fit with Foster, and has begun transitioning to the program.

By Liza Green, Full-time Class of 2014. Upon graduating from University of Virginia, Liza moved to the Rocky Mountains. Her experience there spanned various industries, from restaurants to biotechnology and education. Liza hopes to one day run her own food-related business, and in the meantime is eager to explore marketing and entrepreneurship at Foster.

Applying to boarding schools at the age of thirteen was as rigorous as the processes I would later experience for college and business school. I recall writing numerous essays and completing short answer questions in the style of Mad Libs, albeit a bit more serious. One that I distinctly remember was “What I like most about myself is that I am ____.” My answer: well-rounded. To this day, I would probably answer that question the same way, as I have worked in real estate, education, biotechnology, retail, restaurants, and more. But, I might also give the same response if asked what I like least about myself.

I recently started to feel that I was not only a jack of all trades, but also possibly a master of none. I realized I wanted something different, something more; I wanted an expertise and a committed direction. I had billed myself as an administrative specialist, and while I had contributed significantly to various organizations, I was having difficulty taking my career to the next level. I knew I had a lot to learn, so my natural decision was to return to school.

Having grown up back east, my over-generalized image of MBA students consisted of little more than i-bankers in business suits. I had lived in the mountains for years and had never once donned a suit, so when I visited schools on the east coast, I wasn’t quite sure if I fit in. I wanted to be around people whose experiences were as diverse as mine, whose perspectives were as unique, and whose motivation and goals were as individually-driven and tailored. In my search process, Foster emerged as the only school that truly excited me. What I found is a community that I believe will allow me to excel while pushing me to develop the skills that I need. The energy at Foster seems contagious, and my own excitement about the program is reinforced by every interaction I have with students, staff, and alumni.

When I first committed to Foster, the start of school could not come fast enough. I was ready to quit my job, pack a UHaul, and get to Seattle. Thus far, I have only made the first step in that transition – quitting my job. I am now heeding the advice of current Foster students as I relax and spend time with family and friends. I have recently returned from two months with my family in Virginia and New York. Soon, my boyfriend and I will depart on a two week trip to whitewater raft, hike, camp, and recharge in the mountains of Idaho.

Yet behind all of this leisurely personal time lurks an ever-expanding to-do list. I have been out of school for nine years and I was a History major in college, so my prep list might be a bit more extensive than most: purchase and complete online coursework in Accounting, Finance, and Statistics; do some soul searching to better direct my studies and focus at school; research potential careers and employers; schedule and complete informational interviews with potential networking connections found on LinkedIn. On top of that, I need to ensure my financial aid is in order, rewrite my resume yet again, find a place to live, and possibly transition to the world of smartphone users. The list goes on, and I will do my best to manage it all while making sure to enjoy the calm before the storm.

Posted by admin - June 30th, 2012 - 0 comments - Permalink

Rush-Order Internship

A number of channels exist to help Foster MBAs find summer internships following their first year of business school, from on-campus recruiting to internal and external job boards, to alumni connections and corporate networking contacts. Here is one account.

By Gwyn Gaubatz, Full-time Class of 2013. Gwyn graduated from Smith College with a double-major in Computer Science and American Studies. After teaching two years in rural Mississippi with Teach for America, she spent five years in the educational testing industry before her interest in organizational behavior and development drew her to business school.

A week ago Tuesday I got a call around 2 PM. I was still in my pajamas, heating up some pea soup for lunch after an early nap on a grey Seattle afternoon. I had a To Do list, of course: laundry, cleaning, and a growing list of even more internships opportunities that needed my attention by way of resume revisions, tailored cover letters, research, and networking connections to be made. But also, I had the whole week wide open in front of me, with plenty of time to do that all…after I caught up on some season finales on hulu.com. Such was the lovely state of my life after finals! I turned from the stove to answer my cell and was greeted by an enthusiastic recruiter. Her company would like to interview me!

Well, this was a lovely turn! I stumbled through the beginning of the conversation because, you see, I did not know this company off the top of my head – and did not recall directly applying for any position with them. But once I was told she had received my resume from the Foster School of Business, everything clicked into place. The career center had put me forward as a candidate for a new internship that had suddenly become available. So I expressed that I would be delighted to interview, and pulled out my calendar book. We quickly scheduled a series of three (three? Yes, three!) interviews for that Thursday, beginning at 8 AM.

After I got off the phone (and helped myself to some organic Trader Joe’s soup), I sent a quick note to my career counselor, Susan Canfield, and looked up the company on the internet. As I was perusing their web site, my career counselor responded – congratulations! and also yes, we should meet to prepare – so I turned it around and arranged to come into the career center the very next day.

My meeting with Susan was very busy, but very productive: we talked about the company and the likely project opportunities, and she gave me a laundry list of further research I should do that night to prepare: reading up on the industry, not just the company; scoping out the LinkedIn profiles of my interviewers, looking into similar positions on the Foster job board to get a better sense of the responsibilities and requirements of typical product management work. Susan also drilled me on my responses to typical interview questions and helped me brush up (and abbreviate) some stories I tried that felt shaky. Finally, before I left, she identified a Foster MBA alumn already working at the company, and sent a quick introductory note suggesting we talk. Phew! I had a lot to do that evening to get ready!

Amazingly, within 5 minutes the alumn had responded with contact information and a time to call that same night – and I realized how truly phenomenal the Foster network can be. Later that evening, he spared a half an hour to walk me through the industry, the company, and the staff I would be meeting with the following morning. I was incredibly grateful to have had the opportunity to speak with him and gain his perspective and support.

Armed with his insights and notes from my own research, I put myself to bed. I slept well for maybe the first 4 hours before waking once to use the bathroom, and then every half hour afterwards in a fit of nerves, glancing at the clock to make sure I had not missed my alarm (I never miss my alarm! But still…). I finally broke the cycle at 5:30 AM when I arose to shower, eat, and suit up. And then I grabbed my folio, checking to make sure it was stocked with copies of my resume as well as business cards, and hopped into the car hoping to beat rush-hour traffic to Bothell.

By 10 AM I was turned around and heading back home – all my manic prep work had paid off! Each of my interviews had gone well, I believed, developing into something that felt more like a conversation than a critical back-and-forth. I was able to speak about the MBA program, my experience with teams; my interests in the industry and the ties between the position and my experience; my goals for the future and how they oh-so-snugly fit with this company, right here – and this position, right now! Better yet, after all my research and this series of conversations, I felt genuinely excited at the prospect of working there, with the team that had interviewed me, on the projects that had been discussed.

Later that afternoon – a mere 48 hours after I became aware of the opportunity! – I got another call, this time one I had been told to expect – and I was offered the internship.

I enthusiastically accepted.

Posted by admin - June 23rd, 2012 - 0 comments - Permalink

Inside Admissions: So You’re Thinking about Business School – Now What?

September 2013 seems like it is a long ways away. Here in Seattle, all we can think about right now are the beautiful summer months ahead of us. Seattle truly is one of the most incredible places in the entire world during the summer months. And boy do we appreciate it here. Quite frankly I’m not even ready to start thinking about September of 2012, much less 2013!

But in the world of MBA Admissions, 2013 will be here before you know it. If you are considering applying to MBA programs next year, right now is a great time to start making application to-do lists, scheduling GMAT test dates and thinking about who might write your recommendation letters.

These steps, and in particular the GMAT, often cause a great deal of anxiety for applicants. However, they’re not even the most important parts of the process. That’s right, I said it! The really important stuff can unfortunately get overlooked when we get too wrapped up in the details. Ideally your MBA application should be a way for you to show us that you’ve put a lot of thought into this. That you have researched the potential paths you might take after business school and how the MBA will help you get there. That you have had experiences that will add value to the program. And that you are prepared for the program’s rigorous curriculum.

Researching your career goals, and why you need an MBA in the first place, shouldn’t start with your “Why I want an MBA” essay (virtually every program has one of those). It should start today. If the idea of doing informational interviews makes you a little uncomfortable, start with a friend or a co-worker. Then meet with one of your friend’s co-workers. You would be surprised how much people enjoy telling their life stories. Pretty soon you’ll be an informational interviewing machine and, more importantly, you’ll know a whole lot more about those career paths that you had always thought sounded kind of interesting. And to get back to the topic of MBA applications, you’ll know the most important thing of all – why you want an MBA and what exactly you want to do with it.

This may all sound fairly obvious, but in my years of working in MBA admissions I have seen too many people get buried in the application process before they have really stepped back to make sure this is what they want to do in the first place. First figure out if you really need an MBA, and then go to work finding the programs that will help you accomplish your unique goals. At this point you’ll be able to put together an application that accurately represents the amount of thought and effort that you have put into this decision. That’s why we have you write those essays and gather those recommendation letters…and, of course, take the GMAT.

And speaking of the GMAT, my advice to you is this: Give yourself ample time to study. Take a class or get a tutor if you’re scoring outside the range of the schools you’re targeting. Retake the test if you don’t get the score that you know you’re capable of. And once you do get that score, you can move on to bigger and better things. Like informational interviews, self-reflection (summer is a great time for that) and, of course, a visit to campus. It is never too early to start connecting with us. We look forward to getting to know you!

~Featured Blogger Erin Ernst, Director, MBA Admissions

Posted by admin - June 15th, 2012 - 0 comments - Permalink

Foraging for Fun

I am from Cape Cod, Massachusetts. This probably conjures up thoughts of pristine sandy beaches, sailing on the blue seas, and Dawson’s Creek. Although I grew up in a place famous for the seafood, I must admit I have never actually procured the seafood on my own, whether on the Cape or elsewhere. This all changed at the annual Women in Business retreat.

Each year, the Women in Business Club hosts a weekend-long retreat. Members and non-members alike travel to a “remote” location and get away from the mayhem of everyday business program life. This year’s house on Hood Canal literally sat on the water, and our first order of business was to forage for snacks. Armed with rakes and a big bucket, we started digging for clams. I dug up my first clam (see picture for proof)! On the short walk home, we walked through the oyster fields and easily plucked them from their beds. I did not participate in the subsequent shucking, but I definitely enjoyed the results the next night when we feasted on steamed clams and fried oysters.

Aside from clamming for the first time, it was a weekend filled with other adventuresincluding:

A riveting and competitive card game
A scramble golf “tournament”
Midnight kayaking through the phosphorescence algae
S’mores and more s’mores
Scary stories around the campfire

Of course, there was much more, but the rule “what happens at the retreat stays at the retreat” has my lips sealed. When you join Foster, though, let me recommend you join WiB. And definitely attend the retreat – you won’t regret it!

~Guest Blogger Carly Massey, Full-time Class of 2012, former WiB President

Posted by admin - June 7th, 2012 - 0 comments - Permalink

New Foster Club Supports Veterans

Military veterans typically constitute a small but unique subset of MBA students at the Foster School of Business. In recent years, however, this number has risen significantly. We expect there to be over 20 veteran students enrolled at Foster spanning the day and evening programs by the start of the 2012-2013 academic year – and this phenomenon isn’t just limited to the Foster MBA Program. A recent article in the Wall Street Journal indicates that veteran enrollment is on the rise at top tier business schools all across the country. As major overseas operations wrap up and militaries begin to drawdown their numbers, service members are increasingly looking towards pursuing an MBA to complement their leadership and combat experience with fundamental business skills that will ultimately help them make the transition into the private sector; a two year business “boot camp,” if you will.

So what does this have to do with my experience as a Foster MBA student? Well, if you haven’t guessed by now, I’m a military veteran; so naturally I made it a point to seek out schools that had a club or networking group for former military members. When I couldn’t find any information on the Foster website about a veterans club, I made the assumption that it still existed – but perhaps it just wasn’t widely publicized. It wasn’t until after the start of first year pre-term activities (Prime/LEAD/JumpStart) that I realized I was mistaken.

Foster Veterans with Dave Chonowski, Co-founder of MBA Veterans

While there is a sizeable contingent of us here, we don’t have the support structure offered by other top business schools. Many of my prior-service classmates came to the same realization either during the application process, or soon after starting the program. In fact, most of my non-veteran classmates were also surprised to learn that Foster did not have a club for current and former military members. Of course, it wasn’t long before I started hearing the same repeated comment: “Someone should start a veterans club.”

Fast forward nine months.

I’m proud to announce that, as of last week, the Foster School of Business now offers a club specifically geared towards supporting military veterans enrolled at Foster, as well as applicants considering a Foster MBA. The Foster Veterans Association was cofounded by myself and another vet from the Class of 2013, Gene Ahn, with the support of the Assistant Dean, Dan Poston, Foster MBA Admissions Office, MBA Career Services, MBAA leadership, and of course, our classmates, both military and non-military. It’s my personal hope that this club provides veterans with a strong platform for professional, academic, and personal support, not only during their
two or three years here at Foster, but well into their post-MBA careers.

Check out the Foster Veterans Association webpage for more information.

~Guest Blogger Edward Hwang, Full-time Class of 2013, 2012-2013 Foster Veterans Association President

Posted by admin - May 28th, 2012 - 0 comments - Permalink

Operations and Opportunities with the Ops Club

Question: Which one of these things doesn’t belong?

Steel Mill
Chocolate Company
Hospital
Fulfillment Center
Distillery

Answer: Trick Question – they all belong, at least to the Operations Club.

This is just a sample of the tours and events that the Operations Club has held over my first year at Foster. It was exciting to be a member of a club that purposely went into the community to secure tours and speakers is such a wide variety of industries. The events provided the best opportunity to learn about companies & industries as well as to network with industry leaders. Interestingly enough, some of the people we met on the tours were the same people that interviewed students for internships and full-time jobs. It was an added benefit to not just already know the interviewer but also to have in-depth knowledge of a company.

I made a conscious decision to purposely join clubs and attend events that offered an introduction into a variety of industries. After attending club fairs and informational happy hours I settled on a conservative 3 clubs with one of them being Operations Club. I felt that the club was highly motivated to organize tours and speakers from a multitude of industries to help the members see that 1) operations exist in every industry and 2) help open doors in whatever industry members were interested in. I am extremely happy with my decision to join the Operations Club and I’ve heard a number of my classmates confirm my belief that the Operations Club is the best club at Foster.

~ Guest Blogger Jennifer Yanni, Full-time Class of 2013, 2012-2013 Operations Club President

Posted by admin - May 23rd, 2012 - 0 comments - Permalink

Women in Business Take Control

Spring is a time of transition at Foster. The second years are getting ready to graduate, and the first years are getting ready to become the new second years. This means MBAA leadership and club leadership is transitioning too, so that we can make plans for the year to come while we still have some wisdom around. Women in Business (WiB) took the beginning of Spring Quarter head on, and as the new VP of Speakers, I got to take the reins on our first event of the quarter: the WiB Negotiations Seminar. After meeting with my predecessor to go over protocol and get the details, it was my turn to order lunch, be in touch with the speaker, and track RSVPs to the event. Professor Christina Fong led the discussion about being a woman in negotiations – common stereotypes, pitfalls, and strengths that women bring to the table. About 20 club members ate some Jimmy John’s sandwiches as they got a head start on learning how to negotiate. The board’s first event was a great success. With our first event under our belts, we were ready to tackle the next one: the WiB Spring Retreat, a weekend away on the Hood Canal which featured fresh oysters plucked up off the beach, red wine, and planning for the events next year.

~Guest Blogger Cate van Oppen, Full-time Class of 2013

Posted by admin - May 16th, 2012 - 0 comments - Permalink

Inside Admissions: Welcome Weekend

Welcome Reception Dinner at the Burke Museum.

I was recently chatting with Dennis, a Foster MBA alum from 2001, as he reminisced about the admitted student event he attended before starting the program. He said, “Back in my day, the admitted student event was nothing but a classroom in good old Balmer Hall, and an ice chest filled with cold beverages. But man, it was awesome!” The admitted student weekends, or Welcome Weekends, as we call them now, have certainly progressed over the past 10 years. For one thing, Balmer Hall no longer exists. We now have beautiful Paccar Hall, which opened in the fall of 2010, and another building scheduled to open this summer. We offer opportunities throughout the weekend for incoming students to interact with the current students, including panels, small group discussions and social events. We host a special session for significant others and reimburse part of their travel costs as well as yours. After all, they are a huge part of this decision! And finally, the food has improved immensely since the Dennis’s time (although I have to admit that we do still use those ice chests).

But I don’t think that was his point. Over 10 years later, those same people who sat next to Dennis in Balmer Hall for the admitted student event are now some of his closest friends and colleagues. Welcome Weekend was awesome for Dennis because he immediately felt that “click” that told him this was the right program for him. This is where he belonged.

Admitted students learn about Seattle neighborhoods.

I can’t stress enough the importance of visiting the schools that you have been admitted to. As an applicant, you spend a great deal of time finding the handful of schools that really have what you’re looking for in terms of course offerings, location, size, experiential opportunities and company connections. But once you have been admitted, you still have a decision to make. Is this where you want to be for the next two years? Are these the types of people you want to know for, let’s be honest, the rest of your life? While there is a ton of information online these days, nothing can replace the firsthand experience of visiting campus and interacting with the MBA community. We offer these events for you, and over the years we have tweaked and improved, and tweaked some more, in order to make them as useful, candid and interactive as possible.

If you have been admitted to Foster, or any other program for that matter, attend the admitted student events and ask all (I mean all) of your questions. “Can I get by without a car?” “Can I get home in time to have dinner with my family?” “Is Seattle a dog-friendly city, and will I even have time for a dog??” None of these are silly questions. Our current students worried about these same issues when they were preparing for school, and they are your best resource as you embark upon this challenging, thrilling, life-changing experience.

We had a fantastic time at our April event and we can’t wait to get to know more of the Class of 2014 next week at our final Welcome Weekend this year. If you’re thinking about applying next year, the dates for our 2013 Welcome Weekends will be posted by early June. Mark your calendar! (Just in case – it doesn’t hurt to think positively!) We hope to see you there.

~ Featured Blogger Erin Ernst, Director, MBA Admissions