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Don't make this rookie MBA student mistake

March 5th, 2008 @ 7:11 pm

7 Comments

Categories: Academics

Tags: Accounting, MBA, Class, Operational Accounting, Financial Services, Finance, Jenna Miller

Tonight, we had our first quiz in Financial Accounting. Sounds easy enough, doesn’t it?

I’m pretty sure I bombed it — embarrassingly so.

I could blame it on the fact that I’ve never had accounting (never mind the fact that many people who know me thought this class would be right up my alley). I could blame it on the fact that I had the flu last week when we went over the material (never mind the fact that I had plenty of time last night to catch up when I was reading the chapter).

But let’s be honest: I bombed it because I underestimated the subject matter, and I didn’t spend enough time preparing. It’s a rookie mistake, but I think it’s one that’s fairly easy for an MBA student to make.

This class is really basic, particularly if you studied business as an undergrad. Even though I didn’t, I’ve had no problems following along. No one else seems to either; looking around the class during the lecture, you can practically see students’ eyes glazing over.

And yet, there were plenty of people still working on the quiz when I turned mine in, including my husband who’s taken accounting before. It seems I wasn’t the only rookie in the class.

Because our MBA program includes both students with business backgrounds and those without, there are inevitably some classes that are more basic than others. This accounting class is one of them. For some of us, it’s brand-new material, but for others, it’s stuff they deal with every day at work.

No matter what side of the spectrum you fall on, it can be easy to underestimate the demands of such a “basics” class. But, however basic they may be, these classes still have requirements and material to either learn or review.

I thought I’d be able to rely on my common sense and my BS abilities — not so much. Instead, I found myself struggling with a question that many others seemed to sail through.

Chalk it up to a lesson learned: You can bet that this time next week, I’ll have been much better prepared.

Have you made this rookie mistake in B-school? What class did you expect to be a piece of cake that wasn’t?

———————————————————————— 

Have you taken the What’s Your B-School Background? poll yet? I’m curious to find out about the B-school experience of readers — please take it today if you haven’t already!

Jenna Miller is an MBA student and journalist.
 
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  •  
    1

    ghwood

    03/06/08 | Report as spam

    Are you enjoying or seeing value in your education?

    Jenna,

    I'm in the middle of the second semester of my evening MBA program (out of 3 years continous classes) and fairly near burn out but still see a lot of value in what I'm learning.

    I've noticed from several of your blog posts that you rarely have positive things to say about your experience. Little quips like "eyes glazing over" make it sound like classes are a chore to you and your classmates.

    Our curriculum is fairly demanding (I'm dreading my Finance mid-term tonight) but is directly applicable in the workplace, I can't imagine putting this much time and effort into something unenjoyable.

    Hopefully my perception is wrong.

  •  
    2

    JennaMiller

    03/06/08 | Report as spam

    Thanks for your comments!

    ghwood,

    Thanks for your comments; I appreciate the feedback. You must be getting to know me -- I'm definitely a "glass half empty" kind of person!

    To answer your question, I'm still withholding judgment on this MBA program. So far, there has been little we've learned in the classroom that I can apply to my current work life. However, while I've never been a huge fan of school, I do believe that this education will pay off in the long run.

    That said, so far this accounting class has been disappointing. The "eyes glazing over" comment was no exaggeration; in fact, my husband was the one who commented on it. We're one-third of the way through the course, and we've spent it all covering the first chapter of the book -- that's six hours!

    Thanks again for your comments. Good luck on your midterm!

    Jenna

  •  
    3

    HumZ2

    03/06/08 | Report as spam

    RE: Don't make this rookie MBA student mistake

    Finance is a pretty dry subject matter - so eyes glazing over is a natural response, particularly if the instructor doesn't make it a tad bit interesting or relates it to real life examples.

    I'm wrapping up my MBA at Windsor (UWin), and I could tell you, management classes (Strategic, Marketing, International, etc.) are much more interesting and that's where I think the money actually is. The discussions with classmates and the real life examples, whether it be from the case studies or those shared by the group are invaluable and make the experience tremendously more enjoyable.

    Good luck with your MBA pursuit, and keep your eye on the prize.

    Humzah

  •  
    4

    oakye

    03/07/08 | Report as spam

    don't blame the subject

    a good professor (at a graduate program that incents them to care about teaching, vs 100% researching) can take this topic and inspire you with it. yes, even accounting. Take Mary Barth (https://gsbapps.stanford.edu/facultybios/biomain.asp?id=09878026), for example. She is a kickass accounting prof and she takes this topic and brings it to life.

    students should demand good professors, though they may not always get it. (again it's due to aligned incentives of the teaching program). depending on the program, if the prof is bad, the students can and should feel entitled enough to complain to the administration about opportunity costs of sitting there learning nothing.

  •  
    5

    wisdom.chitedze@...

    04/02/08 | Report as spam

    RE: Don't make this rookie MBA student mistake

    I have seen a number of my class mates sort of take a laid back approach to courses then try to cram the week before exams. The stress they place themselves under is not worth it, and the 12-15 page project assignments for each course that we have to hand in as we write exams are also poorly done as they are hastily done in the very penultimate week.

    The results? mostly Cs (Pass)and some Ds (Fail). I have never been one to aim for the average. Thing is as Jenna said, whats ''familiar'' may not be as familiar as one thinks so you have to aim higher so that should things turn out differently you still do well. Someone said 'aim for the stars. you may not get there bt you wont be wallowing in the mud either'.

    I dont think there is anyone who is ok with failure. Success or excellence does bolster our self esteem and confidence as we face the next challenges.

    So lets be giving it our best shot!

  •  
    6

    El Guapo

    06/09/08 | Report as spam

    RE: Don't make this rookie MBA student mistake

    Being over confident about a class and not having to study for it is not a rookie mistake; you have the high school and undergrad years to practice and hone that. Any MBA program should not be take lightly, IMO. Think about the time and money invested in it.

  •  
    7

    NealDodd

    09/10/09 | Report as spam

    5 Tips To Nailing the Management Consulting Interview

    Hi,
    I thought some interviewing tips might help your readers ace
    their management consulting interviews.
    Thanks
    Neal
    5 Tips to Nailing the Management Consulting Interview
    Most MBA students at some point or another entertain the
    idea of being a management consultant. The process is
    particularly difficult during harder economic times, here are a
    few tips to get you over the line during the recruitment
    season:
    1. Look the part: Don?t show up to the interview in the
    suit you wore to your cousin?s Florida summer wedding, white
    suits with patent leather shoes hardly speaks to the buttoned
    down world of consulting. Try keeping it to darker tones, blue
    or grey is perfect and pinstripes can work. Borrow a rel="nofollow" href=?http://www.briefcasesdirect.com?>briefcase or
    attach? from a friend, or invest in one for the long term (this
    is unlikely to be your last interview), there?s nothing like a
    nice set of accessories to add polish to your look.
    2. Smile: most interviewees forget to smile at their
    interviewer, worse, some never look up from their sheet of
    paper. You want to convey the image of a positive person,
    someone that is engaging and easy to work with; many
    students don?t exhibit any personality during the interview
    and come across as dull or dry. Imagine how the interviewer
    feels when a ray of sunshine walks into his or her interview
    suite ? be that person!
    3. Be hypothesis driven: think about the problem at hand
    and come up with some reasonable inferences based on the
    situation being presented. Are mom and pop stores doomed
    because of big box retail? Is there seasonality in the ice
    cream or snowboard industry? You know the answer without
    knowing anything else about the business, integrate that
    knowledge into your line of questioning. This is far more
    effective that laying out an inflexible framework that is force
    fit to every problem.
    4. Create a dialogue: involve the interviewer in the
    problem solving process, give him or her your hypothesis and
    allow the creativity to flow. This is so much better than the
    question and answer session that often emerges during case
    interviews. The same can be said of the fit interview, perhaps
    even more so than the case interview: try to make this a
    dialogue on shared interests, after all, you enjoy the problem
    solving and analytical challenges of the consulting field and
    so do they. You must have some natural points of
    intersection, once you spot one of these points keep pursuing
    that thread of conversation.
    5. Enjoy yourself: interviewees typically are so wound up
    that they appear to an interviewer like an ironing board. Try
    to enjoy the interviewing process, you?ve prepared enough
    and enjoy cracking cases so it?s time to have a little fun.
    Your interviewer will see this enthusiasm and throw you a
    lifeline if you get stuck. Remember, it?s a boring day for them
    and you have the opportunity to be that ray of sunshine in
    the interview room. Have fun!
    Neal Dodd is a former McKinsey consultant and has
    interviewed and prepared well over 100 potential candidates
    over the years.

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