The Veritas Prep Essential Guide to the Wharton School

EssentialGuide 2013|14 THE WHARTON SCHOOL UNIVERSITY OF PENNSYLVANIA

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EssentialGuide2013|14

THE WHARTON SCHOOL

The Veritas Prep 2013-14 Essential Guide to The Wharton School, University of Pennsylvania Veritas Prep is the leader in GMAT prep and admissions consulting, so naturally thousands of clients have asked us for help in their applications to Wharton. We are pleased that so many of them have gained admission, and we have developed the Veritas Prep Essential Guide to provide insights into how Wharton has maintained its status as one of the premier MBA programs in the world. In the pages that follow, you will find details about Wharton’s MBA program and tips for how to present your profile in a way that maximizes your chances of admissions success.

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We also encourage you to reach out directly to the school by attending a local Wharton information session or going to campus and visiting a class, as there is no substitute for that type of first-hand exposure to what they offer. That said, although first-hand exposure can certainly enhance a candidacy by providing better talking points on “Why Wharton,” the Wharton admissions team is careful not to hold it against a student who is unable to acquire such exposure due to logistical or budgetary reasons.

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What’s Inside About The Wharton School..................................................................................3 What’s New at Wharton.........................................................................................4 The Wharton Approach.........................................................................................5

Wharton Students.......................................................................................6

The University of Pennsylvania..............................................................6

Degree Programs at Wharton.................................................................7

Joint Degree Programs at Wharton......................................................9

What Makes Wharton Different?..................................................................... 10 The Wharton School Is a Good Fit for You If…........................................... 10 Admissions at Wharton....................................................................................... 12

2013-14 Essays (for the Class of 2016).............................................. 12

Deadlines and Round Strategies........................................................ 14

Recommendations................................................................................... 15

The Interview............................................................................................. 16

Admissions Criteria.................................................................................. 17

Wharton Academics & Grading Policies....................................................... 18 Employment & Careers at Wharton................................................................ 23

Professional Recruitment...................................................................... 23

Employment Statistics............................................................................ 24

Pre and Post MBA Career Trends......................................................... 25

Life on Campus...................................................................................................... 26

The Wharton Campus............................................................................. 26

Notable Faculty & Classes at Wharton.............................................. 27

Student Organizations........................................................................... 30

Wharton San Francisco........................................................................... 30

APPENDIX................................................................................................................ 31

Admissions Statistics............................................................................... 31

Visiting Wharton....................................................................................... 31

Connecting with Wharton..................................................................... 33

Costs & Financial Aid............................................................................... 34

Similar Programs....................................................................................... 35

Veritas Prep & Your Wharton Application..................................................... 36

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About The Wharton School Wharton is considered the “birthplace of modern business education.” Although it hit a rocky patch in the mid-2000s attributable to sluggish leadership and a vacuum in Career Services, The Wharton School of the University of Pennsylvania has for generations been one of the most prestigious programs anywhere, consistently appearing at or very near the top of most rankings. The Wharton School is Penn’s prized program and is positioned at the forefront of the research and business communities. Many consider Wharton to be the best of the six Ivy League graduate business programs and a continual leader among its peers. Wharton was one of the first business schools to change its curriculum in response to the economic crisis, an effort that it continues to this day. And, Wharton impressed many in the spring of 2011 by announcing that their incoming Class of 2013 was 45% female, which is the highest proportion of women at any top-tier business school in the world. For the Class of 2014, this number dropped just slightly to 42% Given Wharton’s heritage as the world’s first collegiate business school, the school prides itself on its history of ingenuity and advancement, infusing innovation into every aspect of its approach to business education. From experiential learning opportunities such as leadership treks, to first-of-their-kind interdisciplinary dual-degree program offerings, Wharton is a pioneer of new possibilities in business education. Wharton also offers more electives than any other business school. Penn also showcases a very strong global sensibility and commitment to expanding the program’s global reach. Wharton’s worldview is evidenced through the makeup of its student body (approximately 40% of which is international), partnerships with 14 different business schools around the world, and the many international learning opportunities such as the International Volunteer Project and the Global Immersion Program (GIP). Wharton’s alumni network totals about 92,000 and they span the globe, on every continent and in 140 countries. Wharton makes a conscious effort to provide students with a global experience, both academically as well as socially. Wharton faculty members are also known as leaders in their fields. Mainstream journalists and the business press in the U.S. and abroad frequently rely on experts from Wharton in their reporting. From the Wall Street Journal to National Public Radio to CNBC to Inc. Magazine — on topics from entrepreneurship to race and happiness to real estate and the Federal Reserve — you’ll find quotes from and articles by the influential thinkers at Wharton across the media on a regular basis. In addition, Wharton publishes a free online resource called Knowledge@Wharton featuring discussions of business trends and articles by faculty. With this online presence, Wharton is a leader among its peers, launching the K@W portal in 1999, and reporting over 1.25 million subscribers to date. Some content is even available as podcasts distributed on iTunes. While the information at K@W may be cutting-edge, the portal itself seems a little dated, and Knowledge@Wharton doesn’t quite compare to the venerable Harvard Business Review print publications in terms of reputation. With so many graduates typically moving into finance jobs, the economic downturn hit Wharton particularly hard. Wharton has since recovered significantly, however. In 2010, it placed down at #17 in 2010 on BusinessWeek’s ranking of schools by placement outcomes (an improvement from a dismal #23 in 2009), but in 2011 it had rebounded to #5, with just 5 percent of the graduating class still looking for work three months after graduation. In 2012, Wharton jumped again to #3, coming in ahead of even Stanford GSB, but behind Chicago Booth and Harvard Business School. The Wharton brand name is one of the strongest in the world, and the vast alumni network means that current students and recent grads have a lot of possible connections out there to help them in all aspects of their careers. With such a prestigious history and reputation, expectations are high at Wharton. This school considers itself the elite among the elite, and they make no bones about what a privilege it is to go there. This Essential Guide offers detailed insights to help you see the differences of and advantages offered by a Wharton business education. A B O U T T H E W H A R TO N

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What’s New at Wharton Wharton’s Dean Thomas Robertson has led an intensive effort to overhaul the curriculum, which began rolling out with the Class of 2013. Since taking over in 2007, Dean Robertson has made an effort to address some issues that had been threatening the school in the mid-2000s. His focus has been on repairing relations between the administration and students, improving the school’s showing in the major rankings, and launching new initiatives centered on innovation, international business, and social impact. In addition to the new curriculum discussed in last year’s Essential Guide, new developments that are evident at the school today include: •

New leadership. This past April, Wharton’s Dean Thomas Robertson announced that he will be leaving his current position at the end of the upcoming 2013-14 academic year. Throughout his seven-year tenure as Dean, Robertson has brought a wealth of changes to the school, including a significant increase in the number of Wharton faculty, the introduction of a new curriculum, and a surge in the school’s reputation — all the way to #3 in the most recent Business Week rankings. While a new Dean has yet to be selected (although speculation has already begun), Robertson has indicated that he will stay on board as a member of Wharton’s teaching and research staff.

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Center City student facility. While the primary location for Wharton activities will remain at Huntsman Hall in West Philadelphia, MBA students will now also have access to meeting space in Center City, the downtown area where most students reside. Referred to as “2401” (the building’s address), the new facility is available to MBA students individual or group study, meetings, small gatherings, specialist events, club activities, and relaxation and spending time with one another. It is open with generous hours: 8am to 2am during the week and from 10am to midnight on the weekends.

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Semester in San Francisco. The Wharton Innovation Group spearheaded a new pilot program, allowing second year MBA students to spend a semester at the school’s new San Francisco campus located on the Embarcadero. The program is highly selective and is based on a separate application and first year academic performance. Students may apply for any reason, but based on the first class in the fall of 2012, most students were interested in the Bay Area’s emphasis on entrepreneurship and technology.

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More entrepreneurs. The number of Wharton graduates starting their own companies or interning with a start-up has increased significantly in recent years. For Wharton’s most recent graduating Class of 2013, 7.4% have opted to start their own business, up from just 2.6% five years ago for the Class of 2008. The number of firstyear students taking internships at start-ups this year is 71, up 15% from the previous year. This change seems be well received amongst students and administrators at Wharton, and we expect the trend to continue in coming years.

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New resources for law students. The Wharton School announced in March that they will be offering a new 12-week course to law students who are interested in adding a management perspective on their degree. The program will be offered starting in the Fall of 2013, and will be taught by Wharton faculty. The curriculum will cover a series of business modules designed to help law students become better managers and leaders in their field. Candidates who complete the program will earn a Certificate in Management from Wharton.

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The Wharton Approach Under Dean Robertson, Wharton has emphasized three pillars of Innovation, Social Impact, and Global Education. •

Innovation. The new Innovation Group is tasked with identifying and cultivating medium- to long-term projects at The Wharton School. Examples of Wharton’s previous innovations include the Leadership Ventures (Wharton is the first school to offer such leadership-focused global treks), conferences focused on innovation such as Supernova and the Future of Publishing, and simulations including the Learning Lab and Management Simulations created in partnership with Penn technology students. Wharton also commonly makes significant changes to its admissions essay questions from year to year, which may be a reflection of their focus on innovation (or it may simply be an effort to ensure that applicants always write their Wharton essays from scratch!). From permitting students to design their own majors, to offering first-of-their-kind joint-degree programs like the Lauder MBA, to initiating the first integrated entrepreneurial curriculum through the Goergen Entrepreneurial Management Program, the school consistently drives forward and explores new ideas.

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Global Education. While Wharton has about the same proportion of foreign passport holders in the student body as other top programs, an international focus permeates here more than any other U.S. school. Wharton faculty has an orientation to international business that spans back countless years. The Knowledge@ Wharton online portal is available for Arabic, Spanish, Portuguese, Chinese, and Indian audiences. The awareness of the “global community” is profound throughout everything that Wharton is and does. Moreover, the Wharton/Lauder joint degree program is perhaps the best preparation for a career in international business that can be found on the planet. Many Wharton students take advantage of the Global Consulting Practicum’s work-abroad opportunities. (Interestingly, this is optional at Wharton, compared to Stanford GSB, which requires it of all students.) Also popular is the Global Immersion Program, which in past years has focused on regions including Africa, China, Southeast Asia, and South America. There are also more study-abroad options with Wharton than any other school, allowing students to leverage the vast network of relationships with the best business programs around the globe. Wharton and INSEAD have forged especially deep ties, with a formal alliance of crosspromotion of each other’s programs, whereby about 50 students trade places for semester-long study-abroad experiences each year. In addition, student-led “Career Treks” provide a similar experience to the GIP without the class component, with a mix of business meetings and social/touristy events over the course of the trip. This isn’t to say that all candidates must have international or multicultural experience in order to be a fit with Wharton. In years past, the emphasis has been stronger in the application essays than it is today, however in any year, the school is clearly looking for applicants who can frame their experiences and goals in a global context, and who plan on engaging in the communities around them.

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“At Wharton, the focus isn’t just on learning and doing and the common business school refrain of putting “theory into practice”; they are also committed to creating knowledge.”

“Wharton is a pioneer of new possibilities in business education.”

Social Impact. Namesake Joseph Wharton founded the school to produce educated citizens who are “pillars of the state, whether in private or in public life.” (Get used to hearing this quote from Dean Robertson; he’s fond of mentioning it in speeches and interviews.) The emphasis at Wharton is on creating “economic and social good,” anchored in the Wharton Program for Social Good. The economic crisis has heightened Wharton’s emphasis on the interconnected obligation to create both economic wealth and improve the lives of the world’s citizens. The curriculum features a wide array of courses and even whole majors, including Social Impact Management, which is a timely — and yes, innovative — offering that you won’t see at many other top business schools.

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Wharton Students

Student Stats (Class of 2014)

As with any elite business school, the student experience at Wharton is defined as much or more by the students as it is by the program, faculty, or career opportunities. Wharton is committed to admitting a highly diverse student community, and that diversity extends well beyond cultural diversity. Whether it’s professional background, personal interests, or languages spoken, the student community is intelligent and dynamic. As one of the country’s largest business schools, Wharton offers a little bit of everything in each class makeup.

Class Size............................................................... 837 Percent Female................................................42% (one of the highest of any top-ranked program)

Percent US Students of Color..................28% (a deceptively high number, as Wharton includes Asian-Americans in this number whereas other schools do not)

Wharton also has about 2,500 undergraduate students enrolled, with 400 more in the Executive MBA and nearly 200 PhD candidates.

Percent International....................................37% Number of Countries Represented...........................................................71

Undergraduate Majors:

Average Years of Work Experience..............5

(Class of 2014) Other 5%

Humanities/ Social Science 44% Engineering/Math/ Science 24%

Business 27%

Previous Industry Experience: (Class of 2014)

Private Equity/ Venture Capital 13%

Consulting 20%

Other Industries 13%

Investment Banking 11%

Tech/Internet/ E-Commerce 5% Government/Military/ Non-Profit 11%

Other Financial Services 10%

Consumer Products/ Health Care/Bio Tech/ Retail 12%

Investment Management 5%

Full-Time Enrollment Source: U.S. News 2013 MBA Rankings 2000

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The University of Pennsylvania The Wharton School is one of many prestigious programs at the University of Pennsylvania. Other schools at Penn also rank among the top schools in their respective fields, including the School of Design, the Law School, the School of Medicine, the School of Dental Medicine, and the Annenberg School for Communications. The School of Nursing is one of the top two nursing programs in the country. Despite the breadth of programs on campus, each school tends to be fairly self-contained, infused with its own unique culture and community. With the notable exception of dual degree programs, there is limited Wharton MBA interaction with the greater Penn community, and so other opportunities at Penn should not play a significant role in the decision to apply to Wharton.

Degree Programs at Wharton The Wharton School offers programs across the entire spectrum of higher education, including undergraduate education that many business schools do not offer. Wharton does not have a part-time MBA option, though they do have a part-time postbaccalaureate (non-MBA) business education program for working adults. •

Undergraduate. Wharton’s rigorous undergraduate business program features a highly selective admissions process that requires application not just to the University of Pennsylvania but also to Wharton. Wharton undergraduates are known for their intensity and seriousness about their studies. Only a small percentage of them matriculate directly into the graduate business program; this is because Wharton is still a hold-out among its graduate school peers for preferring their MBA students to have significant work experience rather than accepting them straight after their bachelor’s studies. It is important to that note that for Wharton, seeing an upward professional trajectory as well as potential is crucial for admissions. This can be shown by a candidate straight out of undergraduate if he or she has significant entrepreneurial experience, for instance, but generally this is accomplished through several years of work experience. A wide range of joint programs are available for undergraduates to pursue with other schools at Penn. About 2,500 undergrads are enrolled each year.

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Full-time MBA. Wharton has the standard two-year, full-time MBA experience — and it’s actually a little longer than some other programs because first-years begin pre-term coursework in late July or early August during their year of matriculation. About 1,700 full-time MBAs are enrolled at one time. The bulk of this Essential Guide is focused on application requirements and strategies for the full-time MBA.

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MBA/MA Lauder Program. If Wharton is considered a competitive and challenging program, the Wharton/Lauder combo is over the top. Wharton/Lauder is an MBA combined with a Master’s in International Studies from The Lauder Institute at Penn’s School of Arts & Sciences (Penn Law students can also do a dual JD/MA program with Lauder). As opposed to other international affairs/MBA dual degrees, which generally provide an international policy angle for students going into any type of business, the Wharton/Lauder combo is geared toward those entering international business in a particular region. An important admissions requirement is advanced proficiency in English and one of the nine target languages — ranging from Arabic to Japanese and now Hindi, among others — and a key focus of the program is increasing that language skill and cultural exposure through in-country projects, extensive field research, and a master’s paper. It’s a longer program, starting in May of each year (compared to the August start date of the full-time MBA track). This is not for the faint of heart; even the application is rigorous, requiring two additional 1,000-word essays (on top of the 1,000 words required for the standard Wharton MBA application), plus a separate oral interview to assess language proficiency, along with all the other aspects of the admissions process. The Lauder program usually has 60 students. For

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what are hopefully obvious reasons, most Lauder graduates pursue careers outside of the U.S., though this is not a mandatory element of an application strategy. MBA/ Lauder applications can be submitted in Wharton’s first or second rounds only. If you apply for Lauder and are denied, you’re still in the running for a spot in the full-time Wharton MBA class based on their separate evaluation process. •

MBA for Executives. Sometimes Executive MBA programs are considered inferior to their full-time brethren; they can be faulted for not being as rigorous nor as demanding of their students, partly due to the format, and also because of the reality that their participants are juggling high-responsibility, mid-level management jobs (and often families) at the same time as they’re pursuing their education. Many EMBA students travel from large distances to attend their programs, which typically meet for short, intense periods (a long weekend, or a full week) several times per quarter, and then they disband in order to attend to their “real job.” Accordingly, admission for most EMBA programs tends to be less competitive, often with more flexibility in accommodating lower GMAT scores or undergraduate GPAs. Not at Wharton. The Wharton MBA for Executives, offered both at the main campus in Philadelphia and through the satellite campus in San Francisco, is actually one of the few EMBA programs that is comparable to the rigor of the standard full-time track. The MBA for Executives has a near-identical curriculum and runs on the same cycle that the fulltime program does (the EMBA students accrue the necessary credits by continuing with coursework through the summer while their counterparts in the regular MBA program are pursuing internships). The Wharton EMBA even requires a tiny bit more work, with 19.25 total units required to complete the degree, compared to 19 for the full-time program. Graduates of the MBA for Executives program are awarded the identical Master of Business Administration credential as those in the full-time program. Over 400 students are enrolled in the MBA for Executives programs in Philadelphia and San Francisco at any one time.

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PhD. Student-designed doctoral studies are available in all of Wharton’s 11 areas of concentration- from accounting to various flavors of economics to marketing to statistics. Wharton PhDs typically stay in academia when they graduate. The program has about 180 students. Wharton actively promotes its available PhD candidates by listing their research areas on its website, and frequently places graduates on the faculty of well-regarded schools such as MIT, Chicago Booth, and NYU.

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Executive Education. Open-enrollment executive education seminars, certificates, workshops, and programs are available for individuals and organizations looking to increase their human capital. (Executive Education is separate and distinct from the formal MBA for Executives.)

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Summer Programs. During the summer, Wharton also opens its doors to high school students and foreign university undergrads looking to get a jumpstart on their leadership education.

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Joint Degree Programs at Wharton Besides the Lauder program, Wharton students can also pursue joint or dual degrees in conjunction with Penn’s other leading graduate schools, including: •

MBA/JD three-year joint degree with Penn Law School

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MBA/MA in Environmental Studies dual degree at the School of Arts and Sciences

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MBA/MD available in conjunction with Penn Medicine. Generally 10-15 students in a given Wharton MBA class are already MDs, and 2-5 complete a joint MBA-MD. Most of those individuals are Healthcare Management majors as well.

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MBA in Health Care Management While technically not a joint degree, approximately 8% of Wharton MBAs participate in the Health Care Management program (around 75 per class). This is the only major one must declare before matriculating, because it requires a separate interview just like Lauder and requires a Round 1 application.

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MBA/VMD and MBA/MS dual degrees with Penn Veterinary Medicine

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MBA/MSN and MBA/PhD available through the School of Nursing (simultaneous applications required for the MBA/PhD)

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MB/MBA (Master of Biotechnology), a very unique offering not found at other schools. This combines coursework from Wharton as well as both the School of Engineering and Applied Sciences (SEAS) and the School of Arts and Sciences

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MBA/MArch, MBA/MLA, MBA/MCP, and MBA/MHP dual degrees offered through the School of Design, another opportunity not typically found at other business schools

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MBA/MSW, or the innovative MBA/MS through the Nonprofit/NGO Leadership Program, both available in conjunction with the School of Social Policy and Practice, and both unique options not typical at other schools

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MBA/MA with the Nitze School of Advanced International Studies at Johns Hopkins University in Washington, D.C., appropriate for those interested in international politics

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Several MBA/Master’s degrees available in a partnership with Harvard’s Kennedy School of Government

This amazing list reinforces Wharton’s claim of an interdisciplinary focus to education and shows how the school leverages not just its own resources but those across Penn and the higher education universe. Admission to dual-degree programs requires candidates to apply separately to Wharton and the respective school. In general, the dual-degree programs require one less year than pursuing each of the degrees individually. Wharton’s decision to accept the GRE as an alternative to the GMAT was motivated by the variety of joint degree programs available (and, probably just as much, by the fact that schools like Harvard were accepting it). Although there is a wide range of incredible options here, approximately 95% of Wharton students complete the single-degree, standard MBA program. For instance, last year there was one dual-degree student in the design program and none in the MBA/MSW program.

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What Makes Wharton Different? •

Student Involvement. Inside and outside of the classroom, students play a leading role in defining the Wharton experience for themselves, their classmates, and for future students. The expectation is that Wharton students will be active members of the community — a standard that manifests itself in all aspects of the Wharton experience as evidenced by more than 100 student-run clubs that evolve each year depending on student leadership, the existence of the Dean’s Graduate Student Advisory Committee and the Wharton Graduate Association, and student participation in the admissions process.

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Experiential Learning. Nearly every elite business school is advertising its “action-based” or “experiential” approach, but Wharton deserves credit for the way it puts a premium on student involvement in campus activities and organizations. Wharton has undergone a comprehensive branding and identity initiative, resulting in a new brand platform called “Knowledge for Action.” This brand platform emphasizes and communicates Wharton’s strengths of rigorous research, dynamic thinking and thoughtful leadership. Gaining knowledge and putting it into practice is seamlessly integrated into the student experience through initiatives such as the Global Consulting Practicum.

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Leadership. Building leadership acumen is a core of the Wharton program. While we’d be hard pressed to say that leadership is more important at Wharton than it is at Harvard, opportunities to build this skill abound at this school. Wharton features a dedicated Center for Leadership and Change Management, which spearheads multiple leadership-driven initiatives including Leadership Ventures (outdoor experiential leadership experiences and global leadership treks) and the Leadership Fellows Program (a leadership development/mentor program). Leadership is also baked into the Wharton experience through its entirely student-led community. There are many opportunities to be a leader outside of the classroom through programs such as the International Volunteer Program and Wharton Community Consultants.

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The Wharton School Is a Good Fit for You If... •

You are interested in finance. We haven’t even mentioned it much so far because we figure everybody already knows: Wharton is a finance school. They’re quick to point out that they’re more than that, but the core strength and the interest of the majority of their students remains in the world of finance. They send large numbers of graduates into investment banking, portfolio management, and corporate finance, and place a few here and there into hedge funds, private equity, and even sales and trading — areas that some schools never place anyone. If you’re looking to go to Wall Street, Wharton is a natural for you to consider.

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You are interested in entrepreneurship. Less commonly known is that behind finance, entrepreneurship is the second most popular field of study at The Wharton School. Around 6070 graduates start companies coming out of Wharton every year, and this number is increasing. Schools like Stanford, MIT Sloan, and even Harvard might give Wharton a run for its money on the entrepreneurship side, but it’s an area that is seeing more attention with Wharton’s renewed interest in innovation and social good.

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You want to go into the health care industry. Wharton has one of the strongest Health Care Management programs of any business school, and it deeply integrates academic and professional development. Unlike other majors, students must choose the Health Care Management major when they apply to Wharton, so if you are interested in going into the health care industry, be sure to do your due diligence on this program before applying. Health Care Management majors at Wharton have their own career counselors and recruiting resources focused in health care consulting, biotech, pharmaceuticals, hospitals, insurance and government agencies. Be aware, however, that this program is targeted toward students who are sure they want to enter the health care industry post-MBA, as the vast majority of participants (likely above 90%) enter the industry upon graduation.

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You have had, or want to have, internationally diverse work experiences. Wharton loves those multicultural stories in applicant backgrounds. Overseas work experience is definitely not required in order to gain an offer from Wharton, but it never hurts. Just don’t be tempted to try to overstate your two weeks of European vacation into a “multicultural experience”; oftentimes, vacation stories can come across as fairly routine, and that’s not the level of cultural exposure the admissions committee values the most. Any travel to foreign countries is worth mentioning; whether you make it a cornerstone of your application depends both on the real nature of your experiences in that country, and even more importantly, any international flavor to your stated future career goals. (Making these kinds of strategic decisions about what stories to include and how to position them is obviously a key benefit of the Veritas Prep admissions consulting process.) For Wharton, it’s less the international experience itself that is valuable, but rather what it says about the applicant. For example, is he or she the kind of person who not only enjoys visiting foreign countries, but is also eager to really experience them beyond staying cooped up in fancy hotels and sticking to traditional tourist paths?

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You’re a woman. Sorry, guys: in this case, the women may have a slight advantage. While Wharton definitely does not have lower standards for its female applicants, it is actively courting high achievers. Strong women will likely be well received in the application process. While women need to have the same high qualifications as far as GPA, GMAT, and quality of work experience, Wharton has acknowledged that their female students tend to be a little younger, having fewer years of work experience than the average males they admit. So, younger female candidates should not hesitate to apply. In our experience at Veritas Prep, female candidates who gain admission to Wharton also are successful at other great schools.

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You’re changing careers. Wharton is very welcoming to career changers. If you’re in this position, be sure to highlight the relevant skills and experience that you bring with you from your previous life, and show how you will apply those strengths in the new undertaking you are interested in pursuing after Wharton.

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Admissions at Wharton 2013-14 Essays (for the Class of 2016) Following a trend among several top schools, this year Wharton reduced the total number of words in the admissions essays, making it all the more important for applicants to communicate their perspective in a concise manner. As always, Wharton encourages applicants to be introspective, candid, and succinct, and, most importantly, to be genuine in your passions rather than telling the admissions committee what you think they want to hear. Wharton has cut its required essay count from three to two, although you will actually have more words to work with for the first essay this year. They have also removed the element of choice that was part of last year’s application, as applicants now must answer both of the two required questions. As is common with other schools, an optional essay is allowed to explain unusual circumstances or weaknesses in the application that the applicant is unable to address elsewhere. Those interested in the Lauder joint program have additional materials and processes, including two separate 1,000-word essays and proof of language proficiency. Re-applicants are asked to write both essays just as new applicants do, along with a very short re-applicant essay explaining how their candidacy has improved (schools like Columbia only require a single, longer re-applicant essay for those making a second go of it).

“The worst thing for a student to do is to ignore something they have noticed about their application that they regard as an issue or weakness and hope we won’t notice. A hundred percent of the time, we will notice — it’s our job to notice.”

Wharton’s 2013-14 essays and Veritas Prep’s snapshot assessment of each are provided below. The Wharton S2S online discussion forum sometimes contains helpful bits of advice from the Wharton students who monitor it (look for posts by “Fanatical Fan”), or you can post your own question if you get truly stuck. Of course, Veritas Prep clients receive extensive coaching and guidance on how to approach each individual question based on their unique background, experiences, and goals.

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Kathryn Bezella, Associate Director of Wharton MBA Admissions

What do you aspire to achieve, personally and professionally, through the Wharton MBA? (500 words) The wording of this question is new this year, although we consider this question to be an evolution of Wharton’s Essay #1 from last year. Interestingly, while business schools have been shortening their essays, Wharton actually bumped up the word count for this essay from 400 words last year to 500 this year. And that’s on top of last year’s change, which increased the word count from 300 to 400 words. Since the school has dropped an essay this year, the Wharton admissions team seems comfortable giving applicants more room to run with this particular essay. Looking at what did change this year (besides the addition of 100 words), Wharton added the “personally” piece. You absolutely still need to nail the professional part — clear, realistic career objectives are key — but the admissions committee also wants to see maturity and introspection. How do you see yourself growing during your two years at Wharton? How do you hope the degree and the experience will impact your 10 years from now? Think about these things and try to jot down specific examples before proceeding.

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Veritas Prep spent an entire year collaborating with the publisher of the Myers-Briggs® personality assessments to help candidates with their self-examination and introspection. We co-authored a new assessment called the Personalized MBA Game Plan™, powered by the Myers-Briggs Assessment®. Every Veritas Prep Admissions Consulting client has access to the Personalized MBA Game Plan assessment, which helps you identify personalized traits that MBA admissions committees really care about.

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LOOKING FOR HELP WITH YOUR WHARTON ESSAYS?

Academic engagement is an important element of the Wharton MBA experience. How do you see yourself contributing to our learning community? (500 words)

Veritas Prep has the most Wharton consultants with insider admissions knowledge.

This question is new this year. You could consider it a new version of one optional essay that Wharton featured last year, which asked you to write about an MBA course or extracurricular activity that interested you. The Wharton admissions team has elected to narrow the focus and put it specifically on academics. We tend not to love this kind of question because many applicants are tempted to just find a class on a the school’s website and write about it — thinking they are giving admissions officers what they want to see. This essay is about more than showing that you know how to use the school’s online course and faculty directories! Here you want to show credible evidence that you will be a smart, engaged student who takes Wharton’s academic rigors seriously. Your GMAT score and undergraduate GPA can demonstrate your smarts (and hopefully they’re great), so in this essay you can demonstrate the other key ingredient, which involves your devotion to learning and authentic interest in what you’ll learn in the classroom.

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Admissions essays that ask “How do you see yourself contributing?” are often getting at diversity, and that’s another way you can go with this essay. Note that “diversity” often means more than just your nationality and ethnicity, and that’s particularly true here. Remember that the focus is how you will contribute academically. One way you can do that is by bringing a new point of view based on your work experience. Especially if you come from a professional background that is not overrepresented, emphasizing how your work experience can give you a unique voice in the Wharton classroom can be a great use of this essay.

“Wharton’s application volume is so great that they enlist the help of graduate students — about 70 of them — to assist with various parts of the process.”

Veritas Prep clients working on their Wharton applications receive expert guidance on each of these essay questions. Our Wharton Consultants help our clients understand how to highlight strengths and weaknesses as well as unique elements within the confines of the question, while also addressing each of the key Wharton admissions themes.

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Deadlines and Round Strategies

Deadlines

Wondering if your application timing matters? The Wharton admissions committee has gone on record with advice for both first-time applicants and re-applicants: “We strongly encourage you to apply in Round 1 or 2. The first two rounds have no significant difference in terms of level of rigor; the third round is more competitive as we will have selected a good portion of the class. However, there will be sufficient room in Round 3 for the strongest applicants.” Note that word “strongest”… Yes, you can get into Wharton in Round 3, but if you have any big weaknesses, a “wait till next year” strategy may be your best bet. And, because of high server volumes on the day of deadline, the chance of a technical issue or glitch is high — adding to the probability of stress during what is already a high-pressure moment. Our advice? Submit your Wharton application at least a day or two — if not a week or two — early.

Wharton features the traditional threeround admissions process, and their application deadlines have barely changed since last year. Note that applying to Wharton in Round 1 means that you will receive your decision by December 17th, giving you time to work up some more Round 2 applications for other business schools if you don’t receive good news from Wharton. Note that applicants to the Lauder MBA/ MA program (see “Degree Programs at Wharton” above) must apply during one of the first two rounds.

What if I apply late? Applications received after the cut-off time on the day of the deadline are automatically rolled to the next round. Applications received after the final cut-off in March will not be processed. When will I find out their answer? Acceptance decisions also go out on a specific day (see schedule to the right), through an email notification that alerts the applicant to check the ApplyYourself online application system. You must log on and retrieve your admissions letter from the secure website. Wharton does not call accepted candidates, although they do also generate a hardcopy letter with further information about your acceptance to the school.

All deadlines are 5pm Eastern time on the date indicated.

Round 1 Application Deadline

October 1, 2013

What is this “conditional admission”? Wharton is a little unusual with their decision called “conditional admission.” We’ve seen this outcome at a few other schools before, but it’s uncommon. This means that the admissions team wants to admit you, but there’s an issue that you must take care of first, to satisfy them that you can handle the coursework. The typical “condition” that needs to be met is an improved GMAT score, retaking the TOEFL, or perhaps taking a class to demonstrate quant ability.

Decision Release Date

December 17, 2013 Round 2 Application Deadline

January 7, 2014

What about the waitlist? Wharton clears the waitlist at the end of the following round, so a Round 1 candidate can expect to get a final decision at the Round 2 decision date, and a Round 2 candidate at the Round 3 date. It makes for a very long summer if you apply in Round 3 and are placed on the waitlist! Wharton is very direct about not accepting any additional materials from waitlisted candidates candidates, so please don’t try to submit any information beyond what is requested in your waitlist notification.

Decision Release Date

March 25, 2014 Round 3 Application Deadline

March 27, 2014 Decision Release Date

May 6, 2014

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Recommendations: Wharton requires that all applicants submit two professional letters of recommendations through their online application system. At least one recommendation is preferably from a current or former supervisor. The questions change year to year, and below are the recommender questions for the 2013-14 application process. 1. Describe your relationship with the applicant; what kind of role does s/he play within your team/organization? How does his/her performance compare to that of peers? (500 words) 2. Continual development is an important part of the Wharton MBA experience. What is an area of growth that you would recommend this candidate focus on during his/her two years at Wharton? (500 words) 3. As we are evaluating this candidate for a place in the class, what’s the most important thing we should know about him/her? (500 words) We recommend that applicants select individuals who know them well as their recommenders, not necessarily those with the most impressive title. The primary purpose of the recommendation is to get an outside, objective perspective on your candidacy from someone who can speak to your strengths, weaknesses, and overall personality, thereby shedding additional light on what kind of a person you are and how you would fit into the Wharton community. Of course, specific examples and anecdotes are critical in driving your recommenders’ points home and backing up otherwise-empty praise. It is also recommended that clients speak with their recommenders about their goals, application, and general reasons for applying to business school so that the recommender can address your candidacy in a similar manner as you will be throughout your application.

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The Interview Last year, Wharton launched an innovative new model for interviews after a successful trial partnership with the Wharton Innovation group that piloted a new team-based discussion interview. Based on positive feedback from the pilot project, Wharton employed this model for interviews for all candidates in the 2012-13 admissions season. After its first year, it is clear that this model is here to stay, at least for the time being. Instead of a one-on-one interview with an admissions officer, student, or alumni interviewer, groups of five to six candidates will engage in a discussion together. On-campus discussions will be conducted by Admissions Fellows, a group of second-year MBA students. The majority of discussions will be held on-campus, but admissions officers will be traveling to select cities globally as well. Wharton goes out of its way to remind applicants that there is no advantage to attending a discussion on-campus or off-campus, but they encourage applicants to visit campus so they can attend classes, have lunch with current students, take a campus tour and attend an information session. We at Veritas Prep also encourage candidates to visit the campus if they have the means to do so. The purpose of the team-based discussion is to replicate the experience of working on teams of peers, similar to those you will be working with as a student. The discussion will have a prompt, such as a real-world business scenario, and a purpose. Members of the team will work toward a tangible outcome. The Admissions Committee is looking for how you “think, lead, communicate and interact.” Last year, discussion topics tended to center around Wharton’s three pillars of Innovation, Social Impact, and Global Education. The prompts varied from one discussion group to the next, with students being given the opportunity to answer a few individual questions after the group discussion discussion in a one-on-one session with an admissions representative. Applicants may be tempted to view the team-based discussion as a competition with the other members of the group. If you have a fairly aggressive personality, we caution you not to dominate the discussion. This is an evaluation not only of your critical thinking skills, but also of your collaboration and teamwork abilities. One way to show leadership but not dominate a discussion is to ask insightful questions that the group may want to consider. That said, Wharton is looking for future leaders, so if you tend to be shy or hesitant to speak up, you may want to make an extra effort to contribute to the discussion when you have a relevant thought or idea. Don’t be afraid to break out of your shell! Remember, this is a bit of an awkward situation for everyone involved, so the other members of your group are going to be just as nervous as you are. In addition to the team-based discussion, you will also have an opportunity for a short individual conversation with an admissions team member. Roughly speaking, approximately 40% of all Wharton applicants will be invited for a team-based discussion and about half of those will be offered admission. The teambased discussion will be required for admission in almost all cases. (There may be some accommodations for very remote international candidates.)

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Admissions Criteria

Contact Information

Gaining admission to Wharton is as much about the measurable characteristics (grades and scores) as it is about intangible characteristics (fit, personal experiences, sense of direction, etc.). While there is no recipe for the perfect Wharton candidate, the admissions committee evaluates candidates on the following metrics:

Office of MBA Admissions and Financial Aid The Wharton School University of Pennsylvania

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Academic aptitude

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Leadership potential

3730 Walnut Street

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Personal qualities & interpersonal/communication skills

Philadelphia, PA 19104.6340

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Professional experience and progression.

Phone: ..............215.898.6183

420 Jon M. Huntsman Hall

Fax: ......................215.898.0120

Traditionally, about four years of work experience was recommended to apply, though this is changing. About one-fifth (19%) of the class of 2014 had 3 or fewer years of work experience.

Email: �� mbaoperations@wharton. UPenn.edu

No single application component is considered more important than another (e.g., essays, GMAT score, interview, etc.) — although an early-career candidate would have a lot to prove about how he or she is ready for a Wharton MBA. The admissions committee reviews the application holistically and within the context of the applicant pool in any given year. Academic ability functions essentially as a box to check rather than a quality that can put a candidate over the top. In any given year, 75% to 80% of candidates are qualified academically (meaning they would not struggle with the class work). This means that admissions really comes down to: of those who pass that academic threshold, who are the candidates with the best intangibles and who are the most interesting people Wharton thinks would add value to the MBA community? Wharton places a strong emphasis on professional experience and tends to accept more “seasoned” professionals relative to some of the other top business school programs. Military experience is absolutely relevant (sometimes perceived as more relevant than other types of work experiences in terms of the leadership and teamwork skills); other graduate work at Penn or elsewhere does not count as work experience for the application process. In the absence of extensive work experience, the admissions committee looks for the maturity that comes from “time in the saddle” in other areas. How candidates use their time both personally and professionally is a critical consideration for the admission committee, given the emphasis on student involvement in the Wharton community. The candidates with fewer years of work experience who are admitted tend to be the ones who can demonstrate that they have a professional trajectory with a steep positive slope, taking on new responsibilities, initiative, and leadership roles.

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Wharton Academics & Grading Policies Teaching Philosophy Wharton attempts to strike a balance among the different ways the school imparts knowledge to its students, using a combination of case-based learning, traditional lectures, team-based projects, simulations, and experiential learning across the curriculum. In any given class, a professor may employ any combination of these approaches. Given the faculty’s extensive involvement in key industries, a plethora of real-world examples is integrated into the classroom experience.

Class Organization Each incoming Wharton class is divided into four “clusters” (numbered 1 through 4) and 12 “cohorts” of approximately 75 students (labeled “A” through “L”), with three cohorts to a cluster. The cohorts are established to maintain a mix of professional and cultural backgrounds in every group. Cohorts tend to assume specific personalities defined by their constituents, and friendly competition usually emerges amongst the cohorts, especially within the individual clusters. All the first-year core courses are taken with members of the cohort, and each cluster shares the same faculty members who function as a team in order to integrate coursework across different disciplines. Given the size of the Wharton program, the cohort system is extremely valuable due to the intimacy it creates within the overall class. Based on student feedback, Wharton has recently focused more on the 225-person clusters, offering more cluster events and activities to provide additional networking opportunities with students outside of their own cohort. Within the cohorts, students are divided into “learning teams” of six students. These teams are somewhat randomly selected, taking into account the same need to balance the different backgrounds of the team: generally, learning teams have three US students and three international students, as well as 2-3 women. First-year students work intensely with their learning team in all the core courses throughout the academic year. The learning team model is considered a cornerstone of the Wharton experience (and has been for more than 20 years), and is believed to be a critically important way to explore leadership styles in a risk-free environment while also fostering the development of leadership and collaboration.

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Core Classes

Content Areas in the new Core Curriculum • Finance and the Global Economy

Like most top business schools, Wharton aims to lay a strong foundation in general management that will prepare students to face a range of business issues throughout their careers. First-year students are required to attend a one-month “Pre-Term” session prior to the official start of the school year. Pre-Term, which begins in late-July or earlyAugust each year, features several introductory and review courses in financial accounting, microeconomics, statistics, and financial analysis. There is also an optional math review course offered to those students whose math skills are rusty or who never took a collegelevel calculus or statistics course. The idea of Pre-Term is to level the playing field and ensure that there is a common knowledge base on which to build over the course of the program. In addition to the academic elements of Pre-Term, there is also a two-day, offcampus retreat designed to introduce students to members of their learning team and to begin the practice of leading in a peer environment. The first year is defined by a flexible core curriculum. All students are required to satisfy educational requirements in six separate Content Areas, however they are given choices in how the requirements may be met (called “pathways”). Wharton operates on a quarter system, with most courses lasting only a quarter and some the full semester (a combination of quarter one and quarter two, or Q1 and Q2). A Wharton MBA degree requires a minimum of 19 credit units (referred to as “cu’s”) of graduate-level courses. There is flexibility within that requirement to take up to 4 units outside of the Wharton program. Students may also waive out of most (although not all) of the core courses on the basis of prior coursework or experience in a given subject. Students can waive a course in one of two ways: by waiver application and through the waiver exam process. All waived credits, however, must be replaced by electives to meet the minimum 19 unit requirement. Roughly 65 percent of first-year students waive out of at least one core course, which allows them to take advantage of one of over 200 electives offered.

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Ethical and Legal Responsibility

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Managing the Global Enterprise

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Understanding and Serving Customers

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Corporate Reporting and Control

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Management of Operations, Innovation, Information, and Decisions under Uncertainty

Various courses will be offered in each of these Content Areas so that the student may satisfy the core through a custom curriculum that is tailored to her background, existing knowledge, and future goals.

In addition to the core courses, first year students can also pursue the optional Global Immersion elective, which is a four-week immersion experience in one of several different regions of the world immediately following the spring semester of the first year. Once all core course requirements have been satisfied, students can begin to explore the roughly 200 elective offerings across 19 different majors. This typically begins in the second year, but should a student waive out of courses in the first year, those credit units can be satisfied with electives.

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Majors

Majors include:

Wharton students are required to select one of 19 different in-depth majors. The idea behind majoring is that it provides students with the opportunity to delve deeper into specific areas of interest, either to cultivate an area of expertise, or to assist in facilitating a future career shift. Students have the choice to double major and roughly 30 percent of students go this route. Representative of Wharton’s focus on innovation, students can also design an individualized major based on their unique professional interests (roughly 10 percent of students take advantage of this opportunity).

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Accounting

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Business and Public Policy

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Environmental and Risk Management (Interdisciplinary Major)

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Finance

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Health Care Systems

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Insurance and Risk Management

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Management

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Entrepreneurial Management

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Human Resource and Organizational Management

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Management

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Multinational Management

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Strategic Management

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Managing Electronic Commerce (Interdisciplinary Major)

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Marketing and Operations Management (Joint Major)

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Marketing

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Operations and Information Management

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Information: Strategy and Economics

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Real Estate

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Statistics

A major is typically declared by completing five course units within a specific department, with certain courses counting towards more than one major. Students can also petition their major advisor to have specific courses counted toward a major. Additionally, students also have the opportunity to participate in dual or joint degree programs. While Wharton is known as a “finance school,” it boasts the largest marketing department in the world and is also well known for its strength in management, real estate and insurance and risk management. Some of the most popular majors include Finance, Marketing, and Entrepreneurial Management.

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Grading Policies •

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Grading System. In 2006, Wharton made significant changes to its grading system, moving away from a non-numerical system that consisted of Distinction (DS), High Pass (HP), Pass (P), and No Credit (NC) grades allocated on a forced curve. In any given course under the old system, 15 percent of students received Distinction, 20 percent received High Pass, 60-to-65 percent received Pass, and zero-to-five percent received no credit. Wharton courses are now graded on a traditional letter grade system of A through F, with “plus” and “minus” distinctions carrying the usual point values (A=4, B=3, C=2, D=1, F=0 with the pluses and minuses coming in at 0.33 above or below the full grade value). Students are also permitted to take up to one elective credit unit each semester as pass/fail. The party line on the new grading system is that both students and faculty were dissatisfied with the shape of the old forced curve, believing there wasn’t enough incentive to study hard since 65 percent of students in each class, by definition, received the same grade (Pass, equivalent to a C). Given the greater grade granularity associated with the addition of pluses and minuses, the belief is that there is now greater incentive to exert more academic effort.

“The party line on the new grading system is that both students and faculty were dissatisfied with the shape of the old forced curve.”

Distinctions. In addition to the grade designations, there are also opportunities for academic distinction and the criteria for this did not change with the 2006 grading system changes. Based on GPA each semester, the top 10 percent of students are placed on the Director’s List, and the top 20 percent at the end of the first year are awarded First-Year Honors. Additionally, the top five percent of students at graduation are designated Palmer Scholars while the top 20 percent receive Graduation Honors.

“There is a long-standing tradition among students (dating back to 1994) of Grade Non-Disclosure (GND).”

Grade Disclosure. Another very contentious topic with respect to the grading system is the grade disclosure policy. The Wharton administration’s stance is that students are free to disclose any aspect of their transcript to employers and are, in fact, encouraged to do so. The administration also contends that employers are permitted to request grade information from students. Having said that, there is a long-standing tradition among students (dating back to 1994) of Grade Non-Disclosure (GND). The idea behind GND is that it “promotes risk-taking, teamwork, experiential learning, and community building while preventing over-reliance on metrics that may be imperfect predictors of job performance,” according to the Wharton Graduate Association (WGA). As such, the GND policy is reaffirmed annually by the WGA (in which the vast majority of students are dues-paying members) and students are asked to adhere to it.

“If students aren’t happy with something at Wharton, they force change, whether the administration supports it or not.”

It’s worth noting that the debate around GND within the Wharton community (specifically the administration and faculty versus the students) perfectly illustrates the student-led nature of the community. If students aren’t happy with something at Wharton, they force change, whether the administration supports it or not. In practice, NGD is taken very seriously: it is unheard of for a fellow student to ask you what grade you got on a project or in a class, and in fact, it is common when getting back an exam for students to look it over just out of curiosity to see what they got wrong, and not even look at the grade given. Alumni take NGD seriously too: a Wharton student was interviewed recently by a Wharton alumnus at a NY hedge fund. The alum asked him what his GPA was at Wharton, to which the student politely replied that he was not willing to share that information due to NGD. The alum smiled and said, “That’s good, because if you had dishonored NGD and told me your GPA, I would have rejected you on the spot!”

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Course Enrollment While students are automatically enrolled in most of the core courses, Wharton students engage in an auction-based process to register for elective courses. Upon entering the program, each student is given an initial endowment of points that can be used to bid for seats in electives over the course of their time at Wharton. The registration process consists of 10 auction rounds in each semester, during which students are able to buy and sell seats in their desired courses. Courses command a range of auction points for a variety of reasons, such as the reputation of the professor, whether or not a given course is required for a major, the number of course sections offered, and the day or time the course is offered. Students either love or hate the auction process. For some students it becomes something of a sport to try to “game” and strategize the system, collecting as many points as possible by buying a seat in one round and selling it in another. For others, it is a painful and laborious process. That said, most students feel that the auction system is a fair way of securing electives because it forces students to discern how much they want a specific course, to prioritize what is most important to them, and to make trade-offs accordingly. Through careful planning and strategizing, as well as significant effort to understand the system, students can collect enough points to secure spots in all or many of the most coveted elective courses.

“Most students feel that the auction system is a fair way of securing electives because it forces students to discern how much they want a specific course, to prioritize what is most important to them, and to make trade-offs accordingly.”

Entrepreneurship Experiences Wharton Business Plan Competition. Launched in 1998 by the Wharton Entrepreneurship Club and now a part of the Wharton Entrepreneurial Programs (WEP), The Wharton Business Plan Competition is one of the most renowned business plan competitions across all the top business schools. The competition, which is open to all Penn students, spans a seven-month, three-phase process. The top three finalists in the competition share in $70,000 in cash and prizes. Venture Initiation Program. While not an actual competition, the Venture Initiation Program (VIP) is among the most well known opportunities for budding entrepreneurs in the Wharton Entrepreneurial Programs. Students apply to the VIP in which they can remain for up to five consecutive semesters, assuming they are making the proper progression. As members of this program, students benefit from access to office space and administrative tools to launch their businesses, as well as access to an entrepreneurial support system including monthly advising sessions and networking opportunities.

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Employment & Careers at Wharton Professional Recruitment Career Development Resources: Similar to all the top business schools, Wharton offers a number of resources to its students to assist them in their job search process. Students are encouraged to take advantage of these resources from the moment they step onto campus and as alumni. However, the career management process is largely in the hands of the students, so they must take the initiative if they want to benefit from Wharton’s career management resources. In addition to official Career Management resources, Wharton students themselves are a resource, coming together to help and coach one another in preparation for interviews, etc., as part of professional clubs or as informal groups of students interested in similar career paths. Wharton’s Career Management team facilitates the following opportunities for students: Career Planning Workshops. These workshops are targeted at first-year students to assist them with a range of topics including how to conduct job research, interviewing, and résumé writing. Knowledge Resources. This is a comprehensive website maintained by Career Management offering students information on careers in specific industries, industry visits to campus, as well as tools to research companies and industries. Career Counseling. The Career Management office offers one-on-one counseling to assist students in their job exploration process, discussing a range of issues from identifying the right industry to developing a job search strategy to mock interviewing. Career Treks. The Career Management team, in conjunction with the various professional clubs, coordinates Career Treks. These small groups of students visit a range of companies and parts of the world, providing students with the opportunity to engage with target companies and learn more about working in certain industries or regions of the world. Some examples of past treks include the China trek, San Francisco trek, and the Venture Capital/Private Equity trek. Employer Information Sessions. These informal sessions bring representatives from various companies on campus to educate students about their company, culture, and industry. Résumé Book. A web-based résumé creation and collection system available to employers for recruiting purposes to identify students with the skills and abilities they seek. On Campus Interviews. The Career Management office works with hundreds of companies to bring them onto campus for interviews. A web-based system exists for students to identify companies coming to campus, to drop resumes, to schedule interviews, and to bid for interview spots. Job Board. An online job posting board is available to Wharton students and alums hosting internships, full-time jobs, and post-graduate level job opportunities. Alumni Network. Wharton boasts the largest alumni network (accessible through a searchable online alumni directory) of any business school (approximately 91,000 as of August 2012), which serves as an excellent resource for networking within or learning about industries and job opportunities. Alumni Resources. Career Management maintains a number of tools available to alums long after they graduate to assist them in the management of their career, including an alumni job board, experienced hire resume book, and salary and relocation resources.

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Employment Statistics

Major Employers

Wharton puts the vast majority of its graduates into finance and consulting positions. In general, almost 60% of the accepted offers tend to originate from Wharton-initiated recruiting activities or an alumni contact; this is not the strongest number we’ve seen (compare to 83% school-facilitated jobs landed by Duke graduates, for example — though to be fair, Duke has a much smaller class so the absolute numbers are probably comparable).

Major companies across the globe recruit Wharton graduates and many of the most common employers are similar to those that recruit at other top business schools. The following are among the most common employers, listed in order of popularity.

46 students from the Class of 2012 were reported as starting their own businesses or becoming self-employed. By September 30, 2012, 95.5% of the Class of 2012 reported having full-time job offers, with 93% having accepted offers. Over 40% of graduates stay in the Northeast (primarily New York and Boston), with nearly one-quarter working abroad. For more information on post-MBA career trends, see below. Jobs by Industry:

(Class of 2012)

Manufacturing 1% Real Estate 2% Media & Entertainment 3%

41% Financial Services

Health Care 6% Consulting 27%

Public Interest 1% Consumer Products & Retail 6%

Technology 12%

Energy & Utilities 1%

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McKinsey & Company

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Boston Consulting Group

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Bain & Company

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Morgan Stanley

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Citigroup

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JPMorgan Chase

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Deloitte Consulting

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Deutsche Bank

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Goldman Sachs

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Credit Suisse

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Microsoft Corporation

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Pacific Investment Management Company

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Amazon

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Booz & Company

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Merrill Lynch

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Barclays Bank

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Johnson & Johnson

Jobs by Function: (Class of 2012)

Consulting/ Strategy 30.8% 30%

Other 7%

Investment Banking 12%

Corporate Finance/ M&A 2%

Real Estate 1% General/Project Mgmt 6%

Investment Mgmt/ Portfolio Mgmt 11 %

Product Dev/Structuring 2% Business Development 6% Operations/Production Mgmt 1% Product/Brand Mgmt 8%

Sales & Trading 1% Private Equity 12%

Salaries Median figures for Wharton graduates have been stable for several years:

Jobs by Location:

• Base Salary: ..........................................$120,000 Other 1% Latin America 3%

US Northeast 42%

• Hiring Bonus: .........................................$20,000 US Southwest 3%

Middle East 1% Europe 5% Africa 1%

US West 16%

Asia 11%

US South 4% US Mid-Atlantic 8% US Midwest 5%

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Pre and Post MBA Career Trends Traditionally a finance-oriented school, economic necessity and broader student interests have combined to shift post-Wharton careers to a wide range of industries and functions. Although consulting and finance still comprise over 50% of immediate post-MBA careers, every year more and more Wharton graduates start their own business (over 45 this year) or join technology companies, mostly in business development or operations roles (almost 70 this year). Much of this is a function of who is admitted to Wharton in the first place: the school has placed a disproportionate emphasis on attracting applicants from industries other than finance in recent years, particularly pursuing those from non-profits and public interest firms. The objective here is both idealistic and pragmatic. On the one hand, Wharton is seeking to diversify its student body and provide its community with a wider range of interests and perspectives; on the other hand, Wharton wants to boost post-MBA job placement rates by minimizing the number of graduates going into finance (where jobs are scarcer these days) and maximizing the number of graduates going into public interest and the non-profit sector (where jobs are plentiful). Many applicants see that Wharton has a relatively large percentage of graduates who go into Private Equity upon graduation (12% last year), and therefore believe that they will be able to easily make a career switch into Private Equity by going to Wharton. This is a common misnomer. As you can see in our Wharton Students section, 13% of the student body already comes from the Private Equity or Venture Capital industries. PE recruiters at top-tier MBA programs generally look for candidates with two years of I-banking experience plus two years of pre-MBA Private Equity experience. If you’re coming to school without PE experience and state that your primary goal is to switch careers into PE on your application, this may raise concerns with the admissions committee that you will not be able to achieve your goal. Do the proper amount of due diligence about how you could make this very challenging industry-switch and be sure to include details in your essays about how you can achieve it.

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Life on Campus The Wharton Campus Situated in an urban setting, Wharton occupies several city blocks on the Penn campus just west of downtown Philadelphia. The Wharton School is mostly housed in its own state-of-the-art building, Huntsman Hall, further enhancing the “Wharton as an island” feel. School administration is in Steinberg and Vance Halls, while the Lauder program is primarily based, appropriately enough, in Lauder-Fisher Hall. Wharton students have access to all the main Penn facilities such Van Pelt Library (and Lippincott Library, the business library housed there) and the David Pottruck Fitness Center.

“Philadelphia is the fifth largest city in the U.S. (behind Houston, and ahead of Phoenix). Philadelphia is a just few hours away by train to Washington, D.C., New York City, and Boston. Most Wharton graduate students come from outside the area to attend the school. Wharton is a very large program, and Philadelphia is a big city. It may help to be more of an extrovert in order to not get lost in the hustle and bustle at Wharton and the “City of Brotherly Love.”

The 2002 opening of Wharton’s Huntsman Hall kicked off a building boom at business schools across the country that is still going strong today. Huntsman was designed to flexibly support the specific needs of an innovative curriculum and changing student body. Wharton undertook the development project the way any smart business would, by conducting research and holding focus groups of its constituents — faculty and students — to incorporate practical needs into the core of the design. At the time of its opening, Huntsman Hall was by far the most advanced and innovative business school facility in the world. Huntsman is new enough that its technology infrastructure is still relevant; however, technology support for students is a moving target that business schools often struggle to keep up with. Wharton’s peers have of course studied Huntsman in the quiet quest of top schools to one-up each other, and you will find as good or better features in the new buildings on other campuses such as those opened at the University of Chicago in 2004, Stanford in 2011 and Yale in 2013. There is very little interaction between the graduate and undergraduate communities at Wharton, or between grad students in other Penn programs other than Lauder and the occasional joint-degree student. There are three notable exceptions to this rule: 1) the rare occasions when Wharton undergraduates take MBA courses and work together on group projects; 2) the many volunteer and extracurricular efforts, such as the SBDC, which combine MBA and undergrad teams; and 3) the maximum of four credits units of nonWharton classes that MBAs are allowed count toward their degree. Study rooms at Huntsman can be tough to come by given the focus on team-based work at Wharton, and undergraduate and graduate students usually scramble to book them during prime study hours. When rooms are fully booked, students can be found in clusters all over the building. Much of the group work done by MBAs takes place in local coffee shops or at students’ apartments in downtown Philadelphia (about 15 blocks away), which is closer to where most students live. The large main forum in Huntsman serves as a gathering and meeting place for students. However, graduate students tend to congregate in the graduate-designated Café on the second floor or in one of the building entrances on Locust Walk or Walnut Street. As we mentioned in the “What’s New at Wharton” section, the school also added space in Philadelphia Center City for MBA students to congregate. This new location at 2401 Walnut Street, colloquially called “2401,” has been well received and utilized by MBA students who don’t want to make the trek back to the Huntsman Center in West Philadelphia. More and more events are being held at this location on both a formal and informal basis.

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Notable Faculty & Classes at Wharton

The Wharton faculty is divided into 11 academic departments 1. Finance

Populated with many prominent business leaders, researchers, and teachers, the Wharton faculty is nothing less than exceptional. There are a handful of professors who are considered a “must” by Wharton students due to their reputation both as educators and as experts. This list isn’t merely a collection of famous names, but rather the instructors that Wharton students deem to be essential for the full experience.

2. Management

These notable professors include:

3. Operations & Information Management

Eric Bradlow The K.P. Chao Professor; Professor of Marketing, Statistics, and Education; Co-Director, Wharton Interactive Media Initiative

4. Marketing

Professor Bradlow is well loved by students not just for his teaching prowess and ability to make dry topics such as marketing research dynamic, but also for his affable manner, teaching enthusiasm, approachability and genuine interest in getting to know students. Professor Bradlow is always willing to make himself available to chat with students about course concepts and projects and has been known to return emails off his BlackBerry at all hours of the night. He prides himself on his accessibility to students (even those students who aren’t in any of his classes). Given his background as a statistics PhD., he is somewhat of a “quant” guy demonstrating how sound marketing decisions can be made by breaking down data. His classes are typically characterized by 50 percent lecture and 50 percent case discussion and he employs a Socratic style at times. He’s not afraid to cold call (but goes as far as to warn students ahead of class that they might be cold called), but will never embarrass a student if he/she doesn’t offer a solid answer.

6. Accounting

5. Statistics 7. Legal Studies & Business Ethics 8. Business & Public Policy 9. Real Estate 10. Insurance & Risk Management 11. Health Care Management

Michael Useem The William and Jacalyn Egan Professor; Professor of Management; Director, Center for Leadership and Change Management A world-renowned expert on corporate leadership and change management, Professor Useem consistently ranks among the most popular professors at Wharton. His extremely interactive teaching approach and dramatic storytelling ability- featuring examples ranging from the boardrooms of Fortune 500 companies to famous military moments to NGO and non-profit organizations- captivates his students. Professor Useem has close relationships with top executives around the world, and is particularly mindful that managerial styles and work cultures differ by geography, making it a point not to suggest that western and U.S. managerial practices are always ideal or applicable. His classes are typically characterized by a 50/50 split between lecture and case method, with a very inclusive approach as he skillfully weaves students’ comments and feedback into class discussions. Useem has been nicknamed “Pat” by some of his students because his classroom style is similar to that of a game show host such as Pat Sajak. “Let’s have a volunteer from the audience...come on down...let’s give him a nice round of applause!” It’s a slightly goofy approach, but still an excellent class on teamwork and leadership. In addition to being very accessible to students outside of the classroom, he also creates a “Feedback Circle” where students can provide him with guidance on how to improve his courses. Finally, as Director of the Center for Leadership and Change Management, Professor Useem is also responsible for pioneering Wharton’s very well know Leadership Venture program which students clamor to be a part of.

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“Professor Bradlow is always willing to make himself available to chat with students about course concepts and projects and he has been known to return emails off his BlackBerry at all hours of the night.”

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Franklin Allen Nippon Life Professor of Finance, Professor of Economics; Co-Director of the Financial Institutions Center Professor Allen’s approachable and engaging teaching style and ability to make complex corporate finance topics simpler to understand has won over Wharton students year after year. His introductory finance class, which he has taught for 25+ years, has often been referred to as a “well polished diamond.” Professor Allen’s class material is very accessible to students (they can attend lectures in person, view online, read his lecture notes, or read the textbook which he co-authored) allowing them to learn the content in whatever way best suits them. Students often describe his class as “story time” since his course notes essentially serve as a script for what he says in each class making class attendance optional, a luxury for time constrained Wharton students. Although his class is almost 100 percent lecture, he is very willing to take questions to cement students’ understanding. Professor Allen’s classes are always characterized by his signature motivating stories and examples, which are presented at the start of each class. Amazingly, he learns every student’s name despite having roughly 700 students each semester. He is highly approachable and accessible outside of class, providing lunchtime chats to allow students to interact with him in informal settings, and responds quickly to student emails and inquiries. Professor Allen is very engaged in Wharton Student life, and has even had a few cameo performances in Wharton Follies demonstrating his enthusiasm for the community. Students have made clear their affection for Professor Allen, handing him their “Whatever It Takes” and “Above and Beyond the Call of Duty” student teaching awards. He is also a recipient of the Helen Kardon Moss Anvil teaching award for “outstanding teaching quality,” selected by students, administrators, and faculty members. Jeremy J. Siegel Russell E. Palmer Professor of Finance In addition to being a world-renowned and very high profile finance expert whose book Stocks for the Long Run is considered one of the top books on investing, Professor Siegel is considered one of the best professors on the Wharton faculty. A recipient of countless teaching awards including the Helen Kardon Moss Anvil award, students bet the farm in the auction when it comes to securing a spot in one of Professor Siegel’s classes. His lectures are not only entertaining, but also highly relevant to what is going on in the financial markets. If students aren’t lucky enough to get into a Professor Siegel class, they can always hang out by the front door to witness him pontificating on what’s happening in the market while staring intently at his Bloomberg screen in one of his legendary weekly market updates. In addition to his tremendous enthusiasm for his area of study, Professor Siegel does a great job of integrating course material with current events, and is known for “bringing the real world into the classroom.” Professor Siegel speaks from the perspective of a trader and does not get bogged down in theoretical minutiae. One student referred to him as a “trader’s trader.” While his courses are heavy on lecture, his engaging style encourages students to grapple with the complexities of the market. However, given the large size of his classes, they can be somewhat impersonal at times, and Professor Siegel’s very busy schedule makes him difficult to reach, although he does respond to email. Overall, however, Siegel is an excellent, engaging, brilliant, legendary professor, and he would be the first to tell you so.

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Z. John Zhang Murrel J. Ades Professor; Professor of Marketing Professor Zhang epitomizes genuine enthusiasm for his area of expertise (Pricing). It’s clear that pricing problems keep Professor Zhang up at night. Students love Professor Zhang’s passion for his subject and his ability to integrate real world examples into very theoretical course content. His coursework has also been praised for its applicability to marketing and non-marketing majors alike given his ability to put the content into a broader context of ‘increasing firm value.’ Professor Zhang brings a great sense of humor and engaging manner to the classroom, and there is never a dull moment in his classes. Starting each class with his signature brain teaser underscoring the concept of the day, Professor Zhang gives students the tools to think strategically about pricing and teaches them how to frame issues enabling them to think through them. Very accessible outside of class, Professor Zhang is eager to help students think through class projects and to sponsor independent studies. He is also quick to respond to email questions and easy to find for questions. Marshall L. Fisher UPS Transportation Professor for the Private Sector; Professor of Operations and Information Management; Co-Director, Fishman-Davidson Center for Service and Operations Management In addition to being a highly regarded expert in the retail and global supply chain management fields, Professor Fisher is enthralled with the topic and his enthusiasm is something students love. Professor Fisher’s classes are very discussion-oriented and typically 90 percent case method and 10 percent lecture. Professor Fisher is known for leveraging his excellent relationships in the industry to bring in fantastic guest lecturers from companies ranging from Nokia to Nike that provide unique, real world insight that extends student learning beyond the case material and that significantly improve the classroom experience. Many of his students have also been lucky enough to interact with these executives outside of class as a direct result of Professor Fisher’s close relationships. Professor Fisher is also known for his affable manner and approachability. He is very accessible, responds quickly to email, and regularly meets with students outside of class. Stuart Diamond Practice Professor of Legal Studies; Adjunct Professor of Law The recipient of top student ratings every year, Professor Diamond’s Negotiations course is a tough one in which to gain a seat. Influenced very much by his own experiences versus just negotiation theory, Professor Diamond uses and refines his negotiating methods every day in his own strategic consulting practice where he advises and trains Fortune 500 companies, veteran executives, and even heads of state. His teaching methodology forces students to practice negotiating every week in real-life situations, and students quickly learn that Professor Diamond’s lessons are practical and that his negotiating methods effective. He is known for engaging honestly with students, giving them tough feedback but also asking them for unvarnished criticism of his class. Professor Diamond is very open-minded and is actively tweaking his course throughout the semester based on feedback from current and past students. His classes are typically a split of lecture and case study and are quite demanding, requiring quite a bit of preparation outside of class. Despite his busy travel schedule, he is very accessible and consistently offers his time to students outside of class, going as far as to make himself available for phone call appointments if the need arises.

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Student Organizations

The most popular clubs at Wharton include:

One of Wharton’s most prized attributes is its student-run community. No other component of the Wharton program illustrates this more than the 110 student-led campus clubs including Professional, International/Cultural, Social/Special Interest, Athletic, and Community Service clubs. (Most schools have about 50 student clubs. In fact, with such a huge number at Wharton, it is likely that some are not very active.)

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Community Consultants

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Consulting Club

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Europa

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Finance Club

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Follies

Wharton San Francisco

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International Volunteer Project

San Francisco is home to Wharton’s MBA for Executives program which primarily attracts individuals living in the Western U.S. A variety of Executive Education programs and some research initiatives are also located at Wharton San Francisco. The satellite school moved to renovated facilities at the Hills Brothers building in the Embarcadero area in 2012.

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Investment Management Club

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Latin American Student Association (WHALASA)

Wharton also launched a pilot program called Semester in San Francisco, where full-time MBA students may spend the fall semester of their second year taking classes in San Francisco. The program combines classroom instruction with extracurricular and recruiting activities. Students vote on the electives that they want to take during their semester. The program started in the fall of 2012, with most students interested in entrepreneurship, technology, new product development and the finance of innovation. This comes as no surprise, given the Bay Area’s resources in these areas. Full-time MBA students who are interested in the Semester in San Francisco must apply to the program in their first year and selection is based on your application and first year academic performance. If you’re interested in tech startups, venture capital, technology product management, or another career in the Bay Area, you may want to mention your desire to participate in Semester in San Francisco in Essay 1 of your Wharton application.

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Marketing Club

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Media & Entertainment Club

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Private Equity & Venture Capital Club

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Wharton Social Impact (Wharton’s Net Impact chapter)

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Women in Business

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Wildmen Hockey Club

The diversity present within these clubs serves as a strong reflection of the overall diversity of the Wharton student community. A complete list of all student clubs can be found on the Wharton website.

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APPENDIX

Class of 2013 Statistics The data below is for the Class of 2014, reflecting candidates in the 2011-12 admissions season, and an incoming class that matriculated in the Fall of 2012.

Admissions Statistics In keeping with its status as one the biggest (and best) business schools in the world, Wharton receives over 6,000 applications each year — a number topped by few other top programs. That massive application volume, combined with a robust yield rate of around 70%, is why Wharton admits just 20% of the applicant pool despite bringing in a large class of over 800 students. The average GMAT and GPA numbers are as lofty as one would expect for a program of Wharton’s caliber, however there is a much larger range of both scores and grades than a smaller program typically has (such as Stanford).

Total Applications........................................ 6,408 (a drop of 34 from previous year)

Enrolled Class.....................837(down from 845) Median GMAT.....720 (stable for several years)

Wharton is very generous in reporting the entire range of scores, which many schools do not do. Do not read too much into this though; it could be raising hopes inappropriately high to presume that because they admitted at least one person last year with a 560 GMAT score, that your application with a similar score will be successful. The odds against it are great — that individual probably had some very significant accomplishments on his or her resume.

GMAT Range of all admitted students....................560-790 Middle 80% GMAT Range.................660-770 Median Years of Work Experience...............5

Visiting Wharton

Percent of Early-Career Candidates Accepted...................................19%

The best way for candidates to truly understand if Wharton is the right fit for them is to visit the campus and get a feel for the academic environment, student life, and overall campus culture, though visiting the school has no effect on the admissions decision. Visiting the school presents the opportunity for face-to-face contact with current students, professors, and admissions representatives. Interestingly, some of Wharton’s peers have cut back on the opportunities that visitors have to engage with them on campus, while also restricting travel for their admissions team due to budget concerns with the economic downturn. Wharton still offers a variety of ways for candidates to experience the school for themselves. Advance registration is recommended for all activities, although it is not required. •

Campus Tours. Wharton offers student-led tours that allow the candidate to explore the campus from an MBA student’s perspective. Tours depart from the Admissions Office reception area in Huntsman Hall on Monday, Thursday, and Friday from 12:00 noon to 12:45 PM during admissions season (mid-September through mid-April). Advance registration is recommended.

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Information Sessions. On-campus information sessions are offered by Admissions Fellows daily during the academic year on Monday, Thursday, and Friday at 3:00 PM. Information sessions are held on Fridays only in April and May, and are discontinued entirely in the summer months (check the Visit Wharton page of their website to confirm availability). These sessions provide candidates with the opportunity to interact with a member of the admissions committee who will present an introduction of Wharton and answer questions about the program and the admissions process. When school is in session, current MBA students join the group to provide a student perspective. Meet at the reception area of the Admissions Office in Huntsman Hall (advance registration is recommended).

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Class Visits. Class visits afford the candidate an opportunity to observe the interaction between Wharton students and professors. Candidates are permitted to visit classes anytime school is in session from mid-September to mid-April either independently based on class availability, or accompanied by a student escort when one is available for the class you wish to visit. The candidate can choose the course they would like to attend from the courses offered while they are visiting. Class visits are 90 minutes long and are offered Monday and Thursday at 10:30 a.m. and 1:30 p.m., mid-September through mid-April. See the Visit Wharton page to explore the options available.

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(with 0-3 years of work experience; a decrease from 26% previously)

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Lunch with Students. Wharton offers prospective students the opportunity to “lunch and learn” with current students, which is an excellent opportunity to gain first-hand insight into the Wharton community. The Lunch Program is available to candidates Monday and Thursday, 12:45 p.m. - 1:15 p.m., mid-September through mid-April. (Lunch is “Dutch treat,” meaning each person pays his or her own meal). Meet at the reception area of the Admissions Office in Huntsman Hall.

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Happy Hour at the MBA Pub. “MBA Pub” is a weekly activity that allows Wharton students to connect with their classmates in a fun, social setting. Prospective students are invited to attend the MBA Pub Happy Hour if visiting campus on a Thursday. There they can interact with many Wharton students and experience the school’s culture directly. Happy Hour takes place every Thursday starting at 4:30 PM (and usually going on quite a bit longer than an hour!) from mid-September through mid-April.

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Outreach Events. In addition to campus visits, Wharton offers a variety of opportunities to engage with the Wharton community, including admissions events and coffee chats in more than 150 cities and 45 countries. Unlike other schools who often don’t begin these outreach activities until August or September, you can spot Wharton on the road starting around June. There are also MBA/Lauder events designed specifically to educate prospects about that unique program. Visit the school’s website to view the most current list of upcoming events.

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Connecting with Wharton The main Wharton website and expanded Internet community at Wharton are useful, and the admissions team, along with both graduate and undergraduate programs, are active in various channels. Certain questions about the MBA application process can be answered on the valuable S2S (“Student to Student”) discussion board. Try searching through the forums before posting a new question, as most of the basic ones have already been answered. •

S2S Discussion Board - http://engage.wharton.UPenn.edu/MBA/forums/ - This is a valuable source of information on the school and on admissions. Keep in mind that it’s student to student - the answers you see here are generally not from the Wharton admissions office. A few contributors have very valuable information to share; some others (even if they are current Wharton students) may not be as reliable. (Just because a student is posting on this forum does not mean that he or she is directly involved with the admissions process.)

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Facebook - http://www.facebook.com/WhartonSchool - Wharton Admissions seems much more active on Facebook than most of their fellow admissions offices; lots of other mes- sages from the overall community.

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Twitter - http://twitter.com/wharton - Worth following; lots of activity across the school campus and community (more than just admissions).

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YouTube - http://www.youtube.com/user/thewhartonschool - Becoming more prolific with a stronger presence of videos featuring alumni, EMBA and conference activities, and of course commencement and convocation addresses.

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Flickr - http://www.flickr.com/photos/thewhartonschool/ - Wharton is perhaps the only top school using Flickr as part of its social media strategy; features both undergraduate and MBA events.

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Admissions Blog - http://engage.wharton.upenn.edu/MBA/blogs/mbaadmissions_blog/default.aspx - mostly announcements about admissions events and news of holiday schedules, updated every few weeks.

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The Wharton Diaries – http://engage.wharton.UPenn.edu/MBA/blogs/studentdiarists/ - Allows candidates to explore life at Wharton through the eyes of current students.

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The Wharton Website - http://www.wharton.UPenn.edu/mba/index.cfm - contains a lot of information, though, as with other schools, it may require digging to uncover the details

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LinkedIn - Wharton Alumni Affairs has a private group on LinkedIn just for graduates

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Veritas Prep Blog – http://www.veritasprep.com/blog - is an active resource for Wharton-specific information and targeted admissions strategies, available for free and updated every weekday.

The Wharton School invites candidates to register as a prospective student in their database. By registering your interest in the school, you will receive periodic updates including announcements of admissions events and other information about admissions, and you will gain access to the myWhartonMBA page.

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Costs & Financial Assistance at Wharton

Tuition and Costs

For those who aspire to attend Wharton, the only thing more daunting than gaining admissions is figuring out how to foot the bill. Like most elite graduate school programs, Wharton offers a variety of programs to help students pay the program’s lofty tuition - a tuition that is higher than almost all other programs in existence.

The following annual costs are based on information released by Wharton for the 2013-14 academic year, and are estimated for a single student with no dependents:

Financial Assistance Options

Tuition and Fees .....................................$64,828

Wharton Merit-Based Scholarships. Approximately 30 percent of first-year Wharton students receive merit-based fellowships, ranging from small awards to full scholarships. Specific instructions and criteria for applying for these fellowships are provided at the time of admission. Wharton encourages fellowship applications from all students given that the criteria for selection of awards can extend beyond financial need and merit to include personal background, academic and extracurricular achievement, leadership, community involvement, interpersonal skills, integrity, and honesty.

(Includes $2,000 Pre-Term fee)

Health Insurance .......................................$3,430 Room and Board ....................................$22,495 Books and Supplies .................................$2,000 Miscellaneous .............................................$4,327 Total Estimated Cost (1 year) ....................................... $97,080

• Corporate and Foundation Fellowships - Provided through the donations from a range of companies, for-profit, and not-for-profit organizations.

The Global Immersion Program is optional; participation would incur additional costs

• Joseph Wharton Fellowship - Wharton Fellowship grants range from $5,000 to $20,000 named in honor of Joseph Wharton, the founder of the Wharton School. Specific instructions and criteria for applying for Wharton Fellowships are provided upon admission.

This is definitely one of the more expensive MBA programs around, however Wharton does offer Financial Assistance through a variety of scholarships, loans, grants, and fellowships.

• Howard E. Mitchell Fellowships (HEM) - This full-tuition fellowship is awarded to exceptional students of Hispanic, African-American, and American Indian descent. • Emerging Economy Fellowship - $20,000 fellowships for students from emerging economies, which help offset the financial costs of the MBA for students from “regions where repayment of large loans would be difficult.” • European Fellowship - Established in 1996 by Wharton’s European Advisory Board, selected recipients receive $15,000. Applicants must be citizens of a European country. United States permanent residents, students who will become permanent residents during the MBA program, and dual citizens of a European country and the United States are not eligible. • Henry Ralph Ringe Fellowship - Established in 1959 by Henry Ralph Ringe, this $10,000 fellowship is awarded to a Mexican citizen. United States permanent residents, students who will become permanent residents during the MBA program, and dual citizens of Mexico and the United States are not eligible. • Mohammed Bin Rashid Al Maktoum Foundation Fellowship - Established in 2007 by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. This is a full-tuition fellowship. • Second-Year Fellowships/Assistantships - Wharton features a variety of second- year fellowships and assistantships including: Leadership Fellowships, Admissions Graduate Assistantships, Teaching/Research Assistantships, and Omnicom Communications Fellowships.

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Federal and Private Loans - As with most graduate programs, Wharton makes available a series of loan programs that make up the bulk of each student’s financial assistance: •

Federal Stafford Loan - Available to U.S. citizens and permanent residents. The maximum dollar amount is $20,500 and the subsidized amount can be up to $8,500, depending on financial need.

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Federal Perkins Loan - An interest-free loan while in school, it is a smaller loan program available to qualified students who are U.S. citizens or permanent residents.

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Federal Graduate PLUS Loans - This loan can cover cost of attendance after other assistance has been calculated, provided the student qualifies and is a U.S. citizen or permanent resident.

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Outside Funding Options - Once a Wharton student has borrowed $20,500 in federal loans, they may engage with an alternative loan lender to subsidize the remaining expenses. Wharton does not advocate for any one program; however, they provide a list of options to explore. They also encourage students to identify a lender of their choosing outside of this list should they find more favorable terms.

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Wharton Teaching and Research Assistantships - Wharton makes it clear that it’s a full- time job to get an MBA. However, sometimes on-campus jobs are available as a TA or Research Assistant, based on faculty need.

Similar Programs As a top-tier MBA program, Wharton is often mentioned in the same breath as Harvard Business School and the Stanford Graduate School of Business. (In admissions circles, the acronym “HSW” is often used to refer to these three programs.) However, if you are thinking of applying to Wharton, you may also consider applying to the following schools which all incorporate different aspects of the Wharton experience: •

MIT (Sloan) Known for attracting a broad array of students with varied backgrounds, Sloan incorporates analytical and quantitative elements into nearly every aspect of its curriculum.

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Columbia Business School Traditionally known for its strong finance focus, Columbia is also looking to broaden its appeal in new areas. Its curriculum places a strong emphasis on learning “big picture” frameworks that go beyond technical expertise.

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NYU (Stern) Given its Greenwich Village location in lower Manhattan, Stern is another finance powerhouse. It leverages its location to provide students with hands-on experiences with prestigious companies in the area.

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London Business School (LBS) LBS prides itself on its global community and international connections, as well as its world-class faculty. Applicants interested in international finance would be remiss to leave it off their list!

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Veritas Prep and Your Wharton Application Veritas Prep has a distinguished track record helping our clients gain acceptance to the world’s elite business schools, including Wharton at the University of Pennsylvania. Our years of experience and unique consulting process are the keys to helping our clients present the best possible applications to this very selective school.

Our Team “I am thrilled to inform you that I will be attending Wharton this year! Veritas helped me to discover what Wharton has to offer, and why it would be a good fit for me. I truly feel that this program is the best fit for me, given my international business background and my future interests. Veritas, thank you again for all of your help. I truly could not have done it without you!”

Our team of Wharton consultants includes former admission representatives, alumni interviewers, members of influential student groups, and, of course, accomplished professionals in a variety of fields. With multiple Wharton consultants on our admission consulting team, we are able to provide customized service to clients based on background, timing, and needs. Our Wharton consultants have career experience in a variety of industries and functions. Each client who works with Veritas Prep on a Wharton comprehensive package is assigned a customized team of consultants: a Head Consultant and a Wharton Specialist. •

Head Consultant. All of our Head Consultants have experience in admissions that affords them a unique perspective on the applicant pool and how Wharton candidates must position themselves to express proper fit, and to stand out in an increasingly competitive process. Your Head Consultant guides you through every step of the process: from the initial Diagnostic Session to submission of the application, through the interview and hopefully to acceptance!

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Wharton Specialist. Every comprehensive package client will also receive input from a Wharton Specialist who is either a current student or a recent graduate. Specialists provide insider information about the program they attended to ensure that you demonstrate school fit. In addition, they offer valuable insights about how to stand out from your competition. If you select a Wharton school package or choose to work with a specialist on an hourly basis, our team will ensure that your application components are perfectly tailored to Wharton. For more on Veritas Prep’s incredible team and the individuals who serve as our Wharton consultants, please visit the Consultant Profiles page of our website.

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THE WHARTON SCHOOL

Our Wharton Services The Wharton School is always one of the most popular schools among our clients due to its reputation as an innovative international program and because of its incredibly strong, globally recognized brand. Self-Reflection and Awareness. In a yearlong collaboration with the publisher of the Myers-Briggs® Personality Assessments, we developed the Personalized MBA Game Plan™, Part I. This is a personality assessment that was co-authored by the Myers-Briggs® and Veritas Prep experts that is tailored to offer personalized insights around the traits that MBA admissions officers are looking for. Not only will you become aware of your unique personality strengths and weaknesses, but you’ll also begin to brainstorm ways to incorporate these traits into your MBA applications.

“Our Diagnostic Session — the consultation that serves as the first step with your Head Consultant™ in our Comprehensive School Packages — assures that each client’s goals and prospects are properly aligned.”

Diagnostic Session. Our Diagnostic Session — the consultation that serves as the first step with your Head Consultant™ in our Comprehensive School Packages — assures that your goals and school choices are properly aligned. Once we have identified the reasons motivating an application to Wharton, we start building a timeline and a strategy specifically tailored for a Wharton engagement. In addition, we can help you identify other target schools based on your background, experience, and professional and personal goals. Personalized MBA Game Plan™, Part II. After the Diagnostic Session, if you have purchased a comprehensive package, your Head Consultant™ will create your Personalized MBA Game Plan™, Part II, a strategic approach based on your professional, academic, and personal history. Those elements will become the foundation of the Wharton application story, allowing you to demonstrate leadership, innovation, maturity, teamwork skills, analytical ability, and potential for academic excellence. A major component of the Game Plan is the identification of your strengths and weaknesses — as well as truly unique qualities — relative to the Wharton applicant pool. This becomes the application platform from which you will work and helps mold and shape your strategy of how to address application components such as the résumé, essays, and letters of recommendations.

“Your Head Consultant™ will create your Personalized MBA Game Plan™, Part II, a strategic approach based on your professional, academic, and personal history.”

Leadership. Leadership is an important theme to communicate in the Wharton application, particularly because Wharton knows that it is competing with Harvard for the best candidates. They will be looking for similar qualities in the essays, although they will also be on the lookout for evidence that an essay has been repurposed from another school! Leadership at Wharton is best expressed in terms of impact, and on a candidate’s ability to inspire and motivate. This is about more than just leading a team or spearheading a volunteer effort. Veritas Prep encourages clients to reach into their background and identify instances that may not be the most obvious stories to tell in order to display this important quality. Involvement. A source of great pride in the Wharton community is the fact that its students lead important initiatives that are often adopted by the administration and lead to exciting improvements at the school. Students are expected to play an active role and make their mark on the Wharton community. Communicating and demonstrating this level of involvement in your background can help the admissions team understand the type of contribution you might make while at Wharton.

“A source of great pride in the Wharton community is the fact that its students lead important initiatives that are often adopted by the administration and lead to exciting improvements at the business school.”

Global Sensibility. Whether applicants have never traveled outside of the U.S., or they have lived on multiple continents and speak several languages, communicating a global sensibility in a Wharton application is important. Wharton has one of the most diverse and internationally rich communities of all the top business school programs and a stated focus on expanding its global reach (as evidenced by partnerships like the Wharton/INSEAD Global Alliance). Candidates may want to demonstrate how they will benefit from the global aspects of the program and the contributions they will make to the diversity of the Penn community.

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THE WHARTON SCHOOL

Balance and Perfection. Once the themes of leadership, involvement and global sensibility have been installed as the foundation of the Wharton application, the Veritas Prep Head Consultant ensures that all of the questions have been properly answered, that the résumé and essays have been crafted with style and efficiency, and that all of the key themes have been addressed in a balanced way throughout the application. Your Wharton Specialist will ensure that your application shows that you’ve done an appropriate level of “homework” on the school and that you understand the school’s unique culture, programs, academic offerings and so forth. It’s not easy applying to one of the most popular schools in the world, but Veritas Prep’s teambased consulting approach and unique methodology ensure that our clients give themselves the best chance of admissions success through the most accurate, engaging, and persuasive portrayal of their candidacy that they can possibly create. This is true of our approach to all schools, but particularly at Wharton, where the themes must resonate so strongly and consistently throughout the application.

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HARVARD BUSINESS SCHOOL

About Veritas Prep Founded in 2002, Veritas Prep has emerged as a global leader in GMAT education and MBA admissions consulting. The company’s business school team includes more than 300 graduates of the world’s elite MBA programs, managed from its headquarters in Malibu, California.

WHAT ARE YOUR CHANCES?

The Veritas Prep consulting model is built on adding value to a student’s application process by providing both mentorship and expertise. The business school admissions process has become increasingly competitive and applicants must do everything possible to showcase their value. Our consultants assist applicants in presenting their unique stories in the most professional and meaningful way possible. In a sense, our consultants are translators — helping an applicant discover raw materials and information and then helping that candidate articulate a unique story in a language that admissions committees understand. More than anything, Veritas Prep gives candidates a sense of ownership and control over the process. Quality of work, attention to detail, care for the client, and integrity are the lynchpins of a successful consultation.

LET’S TALK. Call or email us to discuss your candidacy for top MBA programs, or click below to receive a free profile evaluation.

1-800-925-7737

In addition to elite MBA admissions consulting services, Veritas Prep also offers the finest GMAT preparation available in the industry, as well as admissions consulting for law school, medical school, and other graduate programs.

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For a complete list of Veritas Prep’s many services, please visit our website.

“Success Favors the Prepared“

Admissions Consulting Services If you are interested in assistance in the application process for Wharton and other top-tier MBA programs, we have a number of Admissions Consulting services to fit your needs. Veritas Prep has the largest team of Wharton Specialists with insider knowledge of their unique admissions process. For more information on our services, please visit our website. •

Comprehensive School Packages (most popular): Your complete, start-to-finish service for everything from career goal identification, target school selection, recommender selection, resume review, essay brainstorming, outlining and editing to mock interviews and waitlist assistance. Only with Veritas Prep will you work with a Head Consultant™ with insider admissions experience, plus a School Specialist™ with firsthand knowledge of Wharton, its programs and culture

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Hourly Packages: For applicants who seek ultimate flexibility, you may work with an expert consultant on any aspect of the application process on an hourly basis.

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Essay & Resume Editing Services: Submit your completed essay drafts or resume for an expert to review and provide written feedback for improvement.

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Mock Interviews: Did you receive one of the coveted Wharton interview invitations? Congratulations! Prepare for your interview with a Veritas Prep Wharton Specialist who has firsthand knowledge of the interview process and can conduct a mock interview, often with the exact questions you’ll face in your actual interview. They will also provide feedback for improvement so that you can walk into your interview prepared and confident.

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The Veritas Prep Essential Guide to the Wharton School

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