Cindy, you've been involved in the Fisher admissions process for four years now. Has the admissions process or type of candidate now applying to the MBA program changed at all?

I think we've seen some real progress and growth within Fisher College with respect to the new facilities and the new faculty. That progress has caught the attention of prospective students and brought about an increase in the quality of applicants.

The school is noted for its operations and logistics, accounting, and finance areas. Do you feel those are the core strengths of the school? Are they driving applications?

Two years ago, the faculty did a program revision and really looked at the curriculum. After taking a thorough look at the curriculum and its structure, the faculty implemented changes in core and major areas in autumn of 1996. Part of the revision was to focus on the strengths of the program. Those strengths are reflected in the five majors available: corporate financial management, investment management, marketing management, operations and logistics, and consulting. The most notable change in students' salaries over the last two years has occurred in accounting and marketing.

So the majors you just listed were created during the 1996 revision?

They were articulated with the curriculum in 1996. Previously, they were offered as focus areas, but we reduced the number of concentrations available to five majors to clearly signal to employers and students what we feel are our focal strengths. We previously had a lot of core coursework. We've reduced that to doing most of the core work during the first year. Now students can take 14 elective courses -- two during the spring semester of their first year and the rest in their second year. (Editor's Note: Previously, Fisher MBA students could only take nine electives.)

Another draw is the school's Student Investment Management Program, which gives a group of students endowment money to manage in a real investment portfolio...

That was started in 1990 and has grown now to where our students are investing $15 million annually. I think they've done a great job on their investment. The course is offered every quarter and limited to 30 students. If students are in the MBA program with a focus in finance, they can go ahead and register for it. Also, to augment student learning, there's now a stock market lab in the new graduate programs building. The lab will emulate the New York Stock Exchange trading floor and will have a gallery.

It seems as if the school has been working to increase the interactive elements of its curriculum. Everything -- from its Business Solutions Teams, in which student teams perform 20-week-long consulting projects with client companies, to having senior executives come in and discuss case studies on their companies -- seems to point in that direction. Is the school continuing to add to such coursework?

We do think the Business Solutions coursework is one of our strengths because Columbus has a lot of companies based here -- Wendy's, Limited, Banc One, Borden, CompuServe (now AOL) -- which allow us to develop wonderful working relationships with executives.

Because of the relatively small size of the MBA program -- with just 140 students -- we feel we're able to offer a high level of interaction with companies and faculty. Having so many companies in the area virtually guarantees students an internship during the summer.

We have an Executive Lunch Series, where senior executives have lunch with 8-10 students. There's no formal agenda, and it's not a job search, but rather, it's a time where students have the chance to ask execs how they broke into their particular industry and for those execs to offer advice to students just starting out. There's probably about 10 luncheons per quarter. We have interest among executives to do more luncheons, but due to the student workload, we're a little reluctant to increase them.

What is the workload like?

Well, autumn/winter quarter (first term) is quite busy. We have what is called a Super September Startup, which is an intense immersion in business practices. We bring in executives to speak with students. (Editor's Note: For the past two years Ford Motor Co. has presented a case surrounding its acquisition of Jaguar.) The Super Startup gets students focused and introduces them to what they will encounter over the next two years.

We also feel it does a good job of pulling the students together. When students come in, we split them up into four cohorts, and then the cohorts are paired together each quarter so that all students get to learn with each other. Each cohort has several teams comprised of people of different gender, ethnicity, undergraduate major, and professional work experience. So they complete a lot of their class projects together, and it's very much of a collegial atmosphere -- with a lot of interaction.

What is the average amount of time Fisher students spend on coursework?

I would suppose most students would say it's at least equal to a 50-hour-a-week job. Some might say 60 hours, though.

The school now has a brand-new, state-of-the-art, six-building complex. Have you moved in yet?

We will move into the graduate programs building, called Gerlach Hall, in August. The six-building business campus will be comprised of Fisher Hall, the Faculty and Administrative Building [slated to open in August]; Gerlach Hall; an executive education building named the Pfahl Executive Education Building; a business resource center that will hold a library, reference, and multimedia center; the Schoenbaum Undergraduate Business Building; and an executive residence building.

The stock market lab will be part of the Gerlach Building. The building will also have: tiered classrooms fully equipped with audiovisual capabilities, a student lounge, and a communications lab.

Sounds exciting. Have the course offerings you've mentioned and the promise of new facilities had an effect on Fisher's application pool? Did the school's 1997 application total surpass the 1996 total?

Yes, it did. Last year [1997] we were at 1,326 applications. (Editor's Note: The application total is for the full-time program only.) The year before we were at 1,242. So it did increase a bit. This year we're ahead of where we were at this same time last year.

Has the prospect of a new building -- which brings with it more space -- prompted discussion for enlarging the class size?

Well, in 1997, we enrolled 145 students into the full-time program, and those students came from 101 different undegrad institutions. That's a good size for us, and we don't expect any increase in the full-time program once we move into the new facilities.

So you've given some thought to this?

Yes, we have. We're looking at the full range of business products we can offer. We will continue with our full-time MBA program at the current size. We'll continue with our evening program at the current size. What you will see is an emphasis on growth in our exec ed offering. We expect to introduce an EMBA program around the fall of 2000.

What was the yield in 1997?

We admitted 256 students, or 19% of our application pool. Of those that were invited to enroll in our program, 40% accepted our offer.

Are you seeing the sharpest growth in applications coming from internationals?

Definitely. Our international applications are growing at a rapid rate, a trend felt by nearly every B-school in the country.

Yet I understand that Fisher's international class composition is 17%, which is comparatively low.

Our international class makeup is around 24% for the entering class of 1997, and that's a nice class for us. It brings in a nice group of students and a good professional network for the class. Given our class size, we probably wouldn't have it be too much larger than that.

What are this year's application deadlines?

We actually have five application blocks. The block structure came about at the same time as the 1996 curricular revision and has been in effect for two years now. For those that apply by Nov. 14, they'll get a decision by Dec. 30. If you apply by Dec. 15, you'll hear back by Jan. 30. Our third and biggest block of applications comes in by Jan. 15 because that's the deadline for fellowship. Applicants who apply to the third block will receive a decision by Feb 28. The next block ends on Mar. 16, and applicants will hear back by Apr. 30. The last and smallest block ends on Apr. 30, with a decision mailed out by May 30.

In your experience, when do most of the spots in the class tend to get filled?

Most of the class spots are filled by Apr. 30. Fellowship results are announced on Mar. 15, and we make our first round of offers for assistantships at that same time. People have about a month to respond to our offer of admission. By the end of April, we have a fairly good idea of what the class is going to look like. After Apr. 30, applicants are considered on a space-available basis.

What are the different criteria assessed within the Fisher application packet?

Students need to submit an application sheet; three letters of recommendation; a transcript from everywhere they've done college work; answers to our essay questions -- there are two that are required for all of our applicants and a third that is required for those applying without any work experience; a resume; and a GMAT score.

Which of those criteria that you just listed do you find most important? I understand that the GMAT, in particular, is stressed. Is that true?

We tend to look first at work experience. We look at the amount of years of work experience an applicant has garnered but also consider the candidate's level of responsibility, complexity of tasks, career progression, and focus. All of that is elaborated upon in the recommendations. So, we look at work experience first, then a very close second would be the GMAT.

What is Fisher's GMAT range and average for the Class of 1999?

The 80% range is 570-690, while the average is 621 -- and that's for the full-time class only.

In that "very close second" category, how do you assess the GMAT to make sure that a candidate will be successful in the program? Do you institute a cutoff?

We don't really have a cutoff. There are students here with GMAT scores above and below that average. Somebody with a GMAT lower than the class average needs to demonstrate strength in other academic areas. The caliber of their undergraduate record, the quality of the undergraduate major, and the references that say, "I know this person has the ability to succeed," accomplish that.

When we look at the GMAT, we're always comparing it with the GPA. Do the two scores support each other or do they send two different messages? If so, that immediately throws up a question mark because four years of a GPA tells me more than a four-hour exam. But the GMAT cuts across all grading scales and helps me make a judgment about the GPA. We look at all three parts of the GMAT exam to see if there are any weaknesses in any of the areas [verbal, quant, or AWA -- Advanced Writing Assessment]. For international students, we're comparing their verbal score and their written analysis [AWA] with their TOEFL [Test Of English as a Foreign Language] score.

Are you flexible with a student's GMAT scores if they agree to enroll in the optional preenrollment classes in computing, accounting, economics, and statistics?

The preenrollment classes are designed to make sure that admitted students are starting at a similar point. They are not designed to make up for deficiencies or to answer questions we'd have about an applicant. They're not used to try and strengthen somebody's academic record, but are more like optional refresher courses. They're short courses that are probably not long enough to give somebody the foundation they need if their GMAT score is low.

Are the preenrollment classes popular?

They are very popular and have been around for probably the last 8-9 years. They get refined from time to time and change their emphasis depending on curriculum changes. They're a great way to get up to speed. During the summer, people who have been admitted to the program receive a self-administered test in accounting, statistics, and economics with an answer sheet for them to determine whether or not to do more prep work before beginning the program.

Interviews at Fisher are not required. However, with the recent emphasis placed on communication and teamwork skills, is that going to change?

We strongly encourage prospective students to visit our campus. We've always encouraged informational interviews because we want applicants to meet students, sit in on classes, tour the new facilities, meet faculty, and talk with an admissions officer. But we have never required interviews. We have a cadre of students who really want to see the college move forward on this, however. So discussions are under way.

It's in the best interest of the applicants to visit the campus and interview because it gives staff members more to talk about when describing them to the admissions committee -- there's more amplification of the applicant's credentials and experiences. I've always been reluctant to have the interview in any way handicap those who can't make it to campus, though. So, it's not a requirement.

How many candidates are currenly interviewed?

I'd estimate that 50% of our admitted applicants are interviewed.

What words of advice can you bestow upon applicants for how best to prepare for a Fisher interview?

Do your self-exploration. Why do you want an MBA? Why is Ohio State a good place for you to do that? What do you offer or bring to the class? Be prepared with questions for us. What do you want to know about what we can do for you? It's important to articulate your goals clearly.

Once you close the applicant's file, you should be able to understand who the applicant is from the references, essays, and the interview. Candidates should be trying to put together a package that communicates to the admissions committee who they are and what they want to do. It's just like a job interview. Are you a good match for them? And are they a good match for you?

Cindy, you mentioned that Fisher required applicants to submit two essays, plus a third for those who with no work experience. What do the essays entail?

The first essay asks you to describe a major accomplishment in your background and explain how it illustrates your ability to successfully pursue an MBA. The second one asks the candidates what their short- and long-term career goals are and how the MBA helps them to achieve those goals. There's nothing too tricky about each question. What we're hoping for is that the candidate has thought through each question clearly and can communicate that back to us in the same fashion.

In addition, well-written essays give us great examples to use when writing up fellowship nomination statements. We decide which MBA candidates get nominated for a university-wide fellowship competition. That decision is based on the quality of each candidate. Well-written essays contribute to our assessment of quality.

What does the third essay ask?

It asks what unique contributions applicants without work experience can make to the class.

As a general rule, we prefer that candidates limit all of their essays to one page, but there is no penalty if people think they have more to tell that requires more space. I would also advise applicants to have someone read their essays before submitting them.

What kind of recommendations should students submit? How do you like the three recs broken up?

You need to have recommendations from people who can talk about your achievements, successes, and strengths. I strongly encourage applicants to pointedly ask their prospective recommenders: "Do you feel you can write me a strong reference." I can't believe how many recommendations come in that are really weak.

Applicants with work experience should include at least one professional reference. If an applicant has a low GPA or GMAT, or if there are other questions about the strength of the academic record, then he or she should obtain an academic recommendation as well.

Ohio State is now placing more emphasis on work experience. What's this year's range?

Last year's average was just over four years. We're around a five-year average for this year's batch of 1998 admitted applicants so far. Last year's range was between 0-17 years, and the middle 80% range was between 2-10 years. The average last year was just over 4 years.

Our faculty feel very strongly that people best able to benefit from the program are those with work experience -- usually around 3-5 years' worth. The amount of time a candidate has been with an organization, whether he or she has received a promotion, and the extent of the individual's responsibility are elements that would increase one's chances of admission. We have found that students who are most at risk for not completing the program are those who come straight out of undergrad.

What percentage of the class does not have work experience?

Probably around 12% of last year's class don't have any... That will continue to decrease in the future. It's a real area of focus for the faculty.

Does Ohio State use a waitlist?

No, we don't. Instead, as we go through and make decisions, if we're uncertain about an applicant, we defer making a final decision on their file until the next block. With each new block of processing we go back and look at the deferred files to measure them up against the new ones. So we really try and signal early on to the students whether or not they are admitted.

Has that evolved into something where you advise students on what to do?

We do advise students on the status of their file. We send out two letters to deferred applicants. One says that we like your file and that it is strong in all of the different areas, but that we are unsure how it will compare with future applicant files. The other letter says that we like your file, except we think you ought to consider, for example, retaking the GMAT exam. You can't hurt your chances by retaking the GMAT -- it can only strengthen your file.

What's this year's tuition?

Ohio residents pay $5,772 annually, while nonresidents pay $14,058 per year. We expect that to increase by about 9% for 1998. The tuition is not fixed for those already enrolled. At Ohio State it's fairly easy for people to establish residency during their second year. If a student can say that he or she has lived in Ohio for the past 12 months and was self-supporting or dependent upon a Ohio resident at that time, then they are, more often than not, going to gain residency. That is not an option for international students, though.

What would you estimate the annual cost of living to be in the Columbus area? I know it's a huge college town, so room and board must be relatively cheap.

The university estimates the cost of living to be about $11,000 for a single student over a 12-month period. Housing runs the gamut. There are studio apartments for $300 a month, and two-bedroom luxury housing for $6,000 per month. Columbus has a robust population of 1 million, so there are a lot of options.

Do the majority of MBAs live on or off campus?

It's a real mix. There's good housing on campus that many MBAs take advantage of. But a lot of people live off campus as well. Columbus is an easy city to get around in.

We touched on financial aid briefly when you alluded to the fellowship nomination process. Let's delve into it a little further...

Sure. Our best aid would be through the fellowships, which include a full waiver of fees and tuition and a monthly stipend of $1,000. We might have 10-15 students in the entering class who get fellowships (which the admissions committee needs to nominate them for). During the second year of the program, we support fellows with assistantships that award half a waiver of fees and tuition, and a stipend of $500 a month that they earn doing 10 hours' worth of work a week. We also have a special sponsor by Banc One for one person entering each class.

How about financial aid?

We don't administer any need-based awards. We do, however, administer assistantships and scholarships, which are awarded on the basis of academic merit. I'd say about a third of each class has either fellowship, assistantship, or scholarship support. For Ohio residents, the value of merit-based awards would range between $7,000 and $15,000, while for nonresidents, it's around $12,000 to $23,000.

A knock against Fisher has been the inadequacy of the program's career-services office. Some feel that the classes are too small to lure recruiters to campus. Moreover, the CSO has also been blamed by students for failing to help them secure summer internships or jobs after graduation. Have steps been taken to improve this situation?

Yes. Last year's [1997] average starting salary was $63,656, and for students with more than five years of work experience, it was $72,045. There were 198 companies that participated in on-campus recruiting, which is higher than in the past. In fact, 46 new companies came to campus in 1997.

One thing that we can leverage is that the CSO at Fisher College provides services to both MBA and undergraduate business students. The companies that come here split their time with those two groups. So, in addition to the 198 companies that recruit for MBAs, there's another 210 that recruit for undergrads. I encourage MBAs to equally network with undergrad recruiters. The networking opportunities through both the undergraduate and MBA sides have definitely improved.

In addition, the CSO has done a great job in sending out electronic resume referrals. They actually referred over 8,500 electronic resumes to companies that did not make the trip to campus. The electronic referral was started three years ago and began with a software program developed on a diskette where students could input and save their personal data and resumes to disk and then download it on a database. In the last year, the CSO has moved that service to the Web, which brings an additional advantage because there is 24-hour access for both students and companies. So I think the CSO has done a great job of getting students' resumes out to employers.

Are the companies recruiting Fisher grads mainly from this region?

Yes, probably a lot are regional. In 1997, the top 10 recruiting firms were Andersen Consulting, Ford Motor, Procter & Gamble, AlliedSignal, Banc One, Frito Lay, General Electric, IBM, Navistar, and Ross Products. About half of those are regional, but they are very good companies, too.

The regional nature of recruiters is also based in part on students' demographic interests -- they want to stay in the Midwest. We have a plethora of companies within a five-state region of Ohio that recruit here. Those areas also contain major metropolitan areas that are very strong -- including Columbus, Indianapolis, Chicago, Pittsburgh, and Detroit. When this year is all said and done, I think you'll see less of our graduates accepting jobs in the Midwest, opting instead for jobs on the East and West Coasts. That comes as a result of the marketing the Career Services Office has done in Silicon Valley and New York City.

Cindy, what improvements do you feel the school should focus on for the future?

Well, with the new facilities, we're excited about being able to do more with alumni events. We'd like to bring people back to campus and engage them with the students.

With the changes made over the past two years, what type of student do you feel now "fits" the Fisher mold?

Someone who is interested in being a leader, has a good work ethic that is backed up by 3-5 years of experience, and probably wants to focus in five different areas.

Are Fisher's applications generally coming from one specific industry?

No, I think it's fairly evenly distributed over those curricular interest areas [corporate financial management, investment management, marketing management, operations and logistics, and consulting]. We don't admit a certain number into those interest areas -- we let students drive the electives... and interest has been fairly even.

With which schools do Fisher applicants most often overlap?

Probably some of them are our Big 10 colleagues, schools like Indiana, Michigan, Purdue, and Penn State to some extent. Then, outside of the Big 10, I'd say the University of Texas at Austin and UNC-Chapel Hill programs compete with us.

Cindy, thanks for your insights on the Fisher MBA program.