Family business question
Had a long talk with a close friend who is thinking of going to business school and he brought up the topic of certain things in his background that business schools might scoff at.
He works for one of the largest companies in the world (Oil & gas) that is well recognized at the top schools. Non-target undergrad engineering (3.0+), but very strong profile in terms of non-academics.
HOWEVER he is also a special advisor to the boards of two large private companies; THE CATCH is that both of them are owned by his parent's families.
What he is worried about is adcoms deflating the value (or even worse, drawing the nepotism card) that he has brought to these companies; I've seen the work he has done and it is miraculous. Essentially rebuilt corporate governance, operational standards, and investment strategy of these two companies (they were run like it was the 1950s). I'd be pissed off to see him not get the credit he deserves and shine compared to the usual applicants from the region (middle east)
He's aiming to apply to the top 10.
What do you guys think? Will his work as a special advisor (and a very valuable, and unpaid, one at that) work against him?
How would the adcoms know they are family-associated companies? Is his name, like, Richard Thomas and the companies names, like, Thomas & Thomas and Thomas Associates or something?
They're not but a quick google search (do adcoms do that if they've never heard of the company{not sure if they would instantly know the bottom 50 of the fortune 500}?) will show it
Interested in this as well. I would think from an adcom perspective, as long as the candidate can speak directly to his/her impact then that would more than suffice. You would also think the adcom's eyes would turn into $ signs when they find out its your family's companies.
I've seen candidates who come from family businesses that's usually a plus. As you rightly point out, the person has had a chance to learn, at a very early age, about corporate governance and company stewardship. And has had a chance to effect some significant changes. The combination of lifelong learning and the actions taken will be considered a good thing.
Sure, I can see the worry about nepotism and sinecures, and all that feudal stuff, but the admissions committee reader would only devalue the position if the candidate had an empty title and didn't do any work.
I think admissions will worry more about an only-OK GPA, which is really tough to get over in a super competitive admissions environment.
To top it all off he was unpaid in both positions and had to use every vacation day he had at the oil company to attend their quarterly management meetings (one is based in the middle east and the other in Asia lol) on top of working on both companies (following up with executive managers, discussing issues with directors of the board, speaking & arranging financing with bankers etc.) after his "day-job" at the oil & gas company through Skype tele-conferences or phone calls.
I'm really feeling it for this dude. His GPA is above a 3.0 (engineering), which I assume is acceptable, no?
You wrote
and yes, I agree with CRE that you may be the person in question. If not, you are a very good friend, and I hope this scion of capitalism appreciates you.
As for "over 3.0" in GPA terms, I have to say there's a wide range of numbers that could be. 3.0 even from the toughest engineering school is still below the average of GPAs of the top 10 schools. I know admissions do consider the quality of the undergraduate curriculum, but if you look at the median numbers, it's just on the low side if it is a flat 3.0.
Doesn't mean it is insurmountable; just means there will be other candidates competing for the same spot in the class with stronger grades and who have great work and non-work experience. So he will have to work on the whole story: work progression, this board work, the GMAT, and articulation of goals and place in the world.
I feel like you are actually "your friend," but either way you/he shouldn't be embarrassed by your/his accomplishments. Having a connection is what literally everyone in business looks for - yours/his just happens to be a blood connection. Plenty of rich kids dress like Bieber and do nothing with their lives. You/he has had measurable success. You/he should focus on the actual accomplishments - no one really cares how you/he got/gets a job, just what you/he do/does when you're/he's there.
to add a data point, my work experience was a combination of a family business and a company i started and i was accepted into multiple m7 schools.
That's awesome. Curious as to how you spun it in your essays.
without getting too specific, i focused on the measurable impact i had on the business. it seems your friend has had quite an impact on his families' businesses and should probably focus on that. adcom will be able to tell the difference between a cushy family job vs one where the applicant came in and actually had a dramatic impact on the companies.
As someone who works for a boutique/family office as the sole analyst/associate (but we are competitive with the BB's/other banks in our niche industry), this thread gives me hope for b-school admissions
Must be nice
konig 3.2 in engineering is a decent GPA, but it also depends on the rigor of the program you attended. And it depends on the courses you did take as well as your trend. An upward trend is obviously better than the other way around; most admissions readers are willing to look the other way on a mediocre freshman year, especially if the applicant got more organized and serious later on.
As for the GMAT question, if you search "how high a GMAT" or some similar term, you will see answers from WSO all over the place, mostly looking at total numbers (eg, 720). The reality is that there are lots of different ways to get at 720, and for someone who has already done a quantitative undergraduate program, a you want a balanced score. That would mean something like a 48 or higher on quant and a 37 or higher on verbal.
now, one more thing... can you tell us why your signature says "greed is good"? not sure that will help your story.
Alias accusantium qui enim ut. Maiores velit autem rem in est quaerat est. Nihil sequi necessitatibus rerum praesentium. Aliquam et sit illum omnis mollitia et et sequi. Quasi aperiam et quia temporibus illum.
Error voluptatibus et tempora asperiores quis eius dolorem est. Qui et quam adipisci est est ea. Beatae expedita hic voluptate exercitationem. Eos consequuntur qui qui inventore.
Dolorem ducimus et voluptate sint quidem necessitatibus. Animi eveniet nihil ducimus aut consequuntur ipsam. Nulla aliquid hic voluptatibus. Enim repudiandae explicabo quasi beatae distinctio et repellendus eum. Nisi mollitia distinctio qui voluptatem iusto culpa. Ipsa aspernatur eveniet tempore nobis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...