Wendy, this is your first admissions cycle as A&M's B-school admissions director. In your experience so far, what does the Lowry Mays applicant look like? Can you give me a quick snapshot?

What we're looking for from applicants has changed slightly. We are now, for example, requiring our students to have two years of professional work experience under their belts. That requirement brings us a more mature student who has been exposed to a more complex decison-making process. Those students with the work experience can, in the classroom, voice more factors to consider than the standard student, who may be going straight through to B-school from undergrad. Last year 80% of the class had prior work experience. This year we anticipate that 97%-99% of the class will have at least two years of prior work experience.

What is that work experience requirement a response to?

It's important for MBA students to have prior work experience. It makes the degree more meaningful. It also enables them to be more flexible on the other side of the MBA, when they're looking at corporate recruiters. In our experience, recruiters expect MBAs to have work experience. So the requirement is our response to their expectations.

What else are you now emphasizing in the application?

We're also looking primarily at undergraduate backgrounds and GMAT scores... three things make up the admission triangle, those are our three top criteria [work experience, the last two years of the college transcript, and the GMAT]. We're also looking at the essays that they write as part of the application. We now require all students to have an interview with an admissions officer. If they're unable to make it to campus, we'll either set up a phone interview or we have alumni conduct one. But the application packet, the essays, the resume... those are all secondary factors. If an applicant doesn't cut it on the first three criteria, the second factors won't admit them into the program.

What do you feel is the main Texas A&M offering that attracts applicants?

There are a number of things that draw students to A&M: the teamwork environment, the integrated curriculum [introduced in 1993], the program's small size... The first year of the our program is more than a straight lockstep program; it is based around the team concept in which students are divided into three cohorts of 30 students each. Each cohort has all of their classes together and does all of their projects together. So, I think that the cooperative culture is really appealing. Also, the small size of our program -- right now our total enrollment is 203 -- allows us to give a tremendous amount of individual attention to all of our students.

There have been a lot of recent developments in the Lowry Mays program. For instance, we started our own MBA career services office three years ago which has made tremendous advances. It works in conjunction with the overarching university career placement office but is geared toward our MBA students. We also moved into our new Wehner Building in 1995.

We became a named program in 1996: The Lowry Mays College & Graduate School of Business. In 1996, Mr. Mays donated $15 million to the school, of which the first $5 million was earmarked specifically for the MBA program. So, we have money to play with. Compared with about three years ago, we have become more selective about our enrollment and are spending three times as much money per student.

What elements of the program, academically speaking, do you feel put A&M on the map?

I would say our program strengths are in MIS, finance, accounting, and management with a human resources emphasis.

Has the work-experience requirement had an effect on the school's application total? Is there more self-selecting going on?

I believe that would definitely be the case. We are making a concerted effort to notify all applicants that we are requiring two years of work experience. There may be some who enroll with less than two years of experience under their belts. In those cases they have superior academic credentials and have demonstrated leadership ability. So far, our applications for this cycle (fall 1998) have been on target. We are seeing a pretty big increase in international applications, however.

What is A&M's official application total for its Class of '99?

We received a total of 530 applications.

Where does the school stand so far for this year's (1998) application cycle?

We are actually just about the same place that we were last year. We actually have a number holding because we're waiting to interview them.

That's not too shabby, especially when you consider A&M's small class size of 203 students for 1997. Will you maintain that as your target?

We actually hope to increase the class size slightly, but not significantly. This past fall, we had 94 students who matriculated. Next year (1998), we're targeting 105. The following year we'll go to about 120 students. Then, at that point, we'll reevaluate and see where we are size-wise.

Why are you planning to increase the class?

We feel like we have a lot to offer. Although we appreciate our small size right now, we'd like to expand and grow. The increase in size will give us the opportunity to have more recruiters come here. We have a lot coming right now, but we want to enhance our reputation and use our resources more effectively. The increase in size will give us a greater pool of students to work with and enhance the diversity and backgrounds of our students.

How many did you accept for those 94 spots?

We received 530 total applications. Of those, 199 were admitted and 94 matriculated (for a 47% yield).

Wendy, in your experience so far, has the class demographic shifted markedly, in terms of the school's female, international, and minority student body representation?

As far as international students, that is an enrollment management issue for us. Right now, 30% of our total class is comprised of international students. We think that's a good level for us. We are actually targeting in our recruiting a broader domestic geographic diversity. Of last year's class, 49% were Texas residents. We're certainly seeing a broader range in industries our students are coming from, and in their backgrounds -- especially in our application pool for this year. I think the increased work-experience requirement is the main reason for that.

Is it too late to apply to the Lowry Mays program?

No, it's not.

What are this year's application deadlines?

May 1 is our application deadline for both domestic and international applicants. Mar. 1 was our priority deadline. However, after May 1, we still will consider applications on a space-available basis. Mar. 1 was the scholarship deadline.

We go through several rounds of awarding scholarship. So, if an outstanding student applies late, they may be considered for scholarship in a future round. Generally, for scholarships, we have a three-to-four-week turnaround and four-to-five-week turnaround on applications.

Can you give me an idea of how many class spots are currently filled?

It's hard to say how many are filled... At this point, 42 students have been admitted as of Feb. 28, so we still have a lot of applications coming in. And 100% of those accepted students have 2+ years of work experience. We've denied 72 candidates, and we have an additional 103 applicants holding either for an interview, a recommendation, or some other facet of the application we have not yet received to make it complete.

A&M, from what I understand, is fully wired. Does it give its applicants the choice of applying online?

Right now applicants can download an application from our Web site. The Office of Graduate Studies at Texas A&M anticipates that they'll have online applications available for next fall.

What is involved in the A&M application packet? What constitutes a complete file?

First, there's the actual application itself; a transcript; a resume; we have four essays; three letters of recommendation. And generally I tell students to submit any other information that they feel is beneficial or can qualify their candidacy -- and that runs the gamut. I've seen newspaper clippings, research articles published in journals... it can really include anything. One student sent a CD-ROM of himself and all of his accomplishments. Those things are certainly not required, but they do bring notice to an application. To round out the application, we want to sit down for an interview; and, of course we require the GMAT score.

The interview is usually the last step in the process. There are a number of reasons why we do that, but obviously, the main reason is to get a good feel for who the candidate is and make sure they fit into the program. The interview really helps us decide whether a candidate fits in here. For all we know, the application itself may look good on paper, but the individual just may not fit. So, the interview helps us assess that.

How important a variable is the GMAT for you?

We have found the GMAT to be an accurate predictor of our students' performance, but it's not the end-all-be-all. We try to get the whole concept of the person in the application and realize that the GMAT is just one variable. For example, if a student has a stronger work-experience background and a very strong GPA, we may be able to be more flexible on the GMAT score. It's kind of a sliding process with those three variables. We tend to interview all students who are in any way viable candidates for our program. Even if they may not look stellar on paper, we want to find out about them. So, for example, we like to interview the students who are in the gray area. The interview is even more important for those who do not have a strong GPA (especially for the last 60 hours of their undergraduate transcript), GMAT, and/or work experience.

Do you keep a tacit cutoff score in mind when reviewing the applicant's GMAT?

No, we don't have a cutoff score that we go by. It [admission] really depends on other factors besides the GMAT: the GPA, the interview, and work experience. I would say that the interview is, in many cases, the most important criterion.

How do you actually assess the GMAT? Do you break it down in parts?

We do. We look at the verbal, quant, and AWA (Analytical Writing Assessment) scores separately, and then look at the total score. We require our students to score at least in the 50th percentile for both the quant and verbal sections, and achieve at least a 4.0 [out of 6] on the AWA. We actually like to see a 4.5. And, of course, we require that international students submit their TOEFL [Test Of English as a Foreign Language] scores: We require that they earn at least a 600 [out of 677].

Wendy, is your office receiving more GMAT results this year now that the GMAT has moved to the computer adaptive model?

As far as score reports are concerned, I really can't tell you. The GMAT CAT has not been in effect long enough for us to tabulate that.

How do you evaluate a candidate's multiple GMAT scores?

We look at the highest composite score. If a student wants to take the test multiple times, we don't look at that in a negative way. If all the factors of a candidate's application are strong, we'll recommend that they retake GMAT to improve their chances for scholarship consideration.

Personal interviews at A&M are no longer recommended, but required to gain admission into the program. Can any applicant set up an interview, or is the school selective of who it sits down with?

We will contact students if we'd like to interview them. Otherwise they'll be contacted with our decision. Generally speaking, if you haven't been contacted for an interview, then you should start looking elsewhere to go to B-school. We try to move applications through our office quickly so that we can get back to students quickly. Students should feel free to contact us for any interview during the fall season, but from January onward, we no longer accept walk-ins and will contact only those students who we want to sit down with to interview. And that only happens after the candidate's file has been received.

What should applicants do to prepare themselves for the interview?

I would say that they really need to know themselves, and that requires a fair amount of soul searching. They also need to do the standard preparatory things. They should familiarize themselves with our program. For example, when we ask "Why Texas A&M?" they should have a good answer for us instead of, "why not?" Every interviewer looks for different things, but we try to be consistent. One thing I look for is how they will do in their job placement two years from now. I can partially answer that through their demeanor and professional behavior during the interview.

Who else interviews?

Interviews are handled primarily by either myself, Dr. Winston Shearon, director of the Mays MBA program, and Wendy Boggs, an academic adviser. We will also sometimes have alumni and faculty conduct several interviews.

How long does the A&M interview usually last?

It really depends on the person interviewing, but generally they go for 30-45 minutes.

So, no inference should be drawn if an interview is cut short or protracted?

No. We generally go the distance.

What do you ask, generally?

Without getting too specific and giving away all of our questions, we're looking for leadership and communication skills, as well as evidence of their ability to work in a team environment. We also want to hear examples that applicants can draw on to demonstrate their skills.

Has the number of essays in the application changed at all?

No, we've always had four.

Can you give me an idea of the type of questions the essays ask?

One asks about their career plans; another asks what they will bring to the MBA program; and the other two have applicants talk about their leadership abilities, as well as their personal and professional accomplishments.

Are there word limits attached to the essays?

We ask that a maximum of two double-spaced pages be allotted for each question. And we do read every word of every single essay.

What does it mean if somebody spills over that two-page limit?

If it's a compelling essay, then I read it.

Do you consider it a red flag?

No, I wouldn't say that, but I do hope that the applicant keeps the reader in mind. We value the concise communication of ideas, but that's not something that we stress of penalize for. Our philosophy is that applicants should be able to write enough in two pages to answer each essay question -- they're all fairly straightforward. We also look carefully for grammatical errors in the essays, the resume, and throughout the whole application. They're a real negative. If applicants haven't taken the time to proofread, then that really indicates the quality of work they're going to produce if admitted into the program.

How do applicants tend to break their three recommendations up? And, how, ideally, would you like to see them broken up?

We see everything. Generally speaking, we like professional recommendations. I certainly don't think it's a detrimental thing if somebody submits three professional recommendations. If they want to hand in two professional recommendations and one academic, that's fine, too. But because we're putting more emphasis on the work experience, we prefer professional recs to academic ones.

Wendy, can you explain how the decision-making process works at A&M?

Sure. It first goes to my desk for an initial decision -- kind of a first read -- and then it goes to Winston Shearon. If he and I agree that the file has a lot of strong merits, then we'll contact the applicant for an interview. If we don't agree, we will have a faculty member review the application for a tie-breaker. And sometimes, if there is disagreement on a file, we'll set up an interview, because that can help us make a decision. If a student is admitted, I will call them as soon as I know. And I have to say that's my favorite part of the job.

Wendy, you mentioned that you have 103 applications on hold. Are they on your unofficial waitlist?

No, actually, we don't have a waitlist. For nearly all of those folks currently on hold, we're waiting to sit down with them for an interview or to receive that last recommendation before making a decision.

Do you defer making your decision on weaker applications until the next review cycle, to see how they compare with the next slice of the pool?

We really try to make the decision on the spot. There maybe some applicants who are a little bit weaker than the rest of the pool that are held over to the next decision date, but they're not really on a waitlist.

Can those holdovers do anything to improve their chances of acceptance?

No. Generally, we're deciding not to decide at that point -- just waiting to compare them to the next batch of applicants in the pool.

Let's move on to the cost of receiving a cherished MBA degree. What's this year's tuition at Texas A&M?

The cost of tuition for Texas residents is about $3,000, and for nonresidents, it's about $8,000.

Is that fixed?

That's a general figure, and it may increase during the second year slightly, depending on what the university dictates.

We do have scholarship that will grant out-of-state and international students in-state tuition, however. And that really lowers the tuition cost quite a bit. We offer three levels of scholarship: $1,000, $2,000, or $3,000. If you receive a $2,000 or $3,000 scholarship, then you qualify for in-state tuition. I'd say about 65% of the student body receives some form of scholarship.

We also have assistantships available [15 each year] where students work 20 hours a week and receive a monthly stipend of $650, plus health insurance. Sometimes the assistantship can give them an advantage in parking as well -- which is a great benefit. All of our scholarships are merit-based, while our assistantships are based more on work experience.

What would you estimate the annual cost of living to be in the College Station area?

Generally, the cost of living is about $9,000 a year. College Station is a very inexpensive place to live.

Let's talk briefly about students' pay packages. A&M's career services office has been criticized for not landing its students high-paying jobs. Students are not receiving salaries comparable to their peers at other top B-schools. Why is that? Do you feel that is largely tied to the school's geographic location?

From my point of view, I would say that is largely due to students staying in the Texas region. As a matter of fact, 57% of the Class of '97 remained in Texas last year. The cost of living is below the national average, and if you compare $60,000 Texas dollars to somewhere else, you're bound to find that will take you farther in Texas. There are a number of employers in Houston, Dallas, and San Antonio that draw our students to them -- so the students' decision to stay in the area is being made by choice.

Is the number of companies recruiting on campus increasing?

Yes, actually -- dramatically. Our careers services office is taking a very aggressive approach. Last year we added 24 companies to our interview schedule, and we anticipate a total of 80 companies interviewing our students this year. In addition, we're expanding our placement office by adding another staff member.

Wendy, you mentioned that about 57% of last year's class opted to stay in the Texas area after graduation. Is the school expanding its recruiter base outside of the Texas area?

We're looking for opportunities across the country.

Who do you consider to be Texas A&M's toughest competitors?

I'd say UTexas at Austin is our biggest competitor because we're competing for many of the same Texas students. In addition to Texas, we tend to overlap quite a bit with Arizona State and SMU.

Would you like to add anything else before we wrap up?

I think the main thing I'd like to emphasize is our very aggressive career services approach. We have here, for example, the Graduate Business Career Conference (GBCC), a two-year event in which all of our students and recruiters mingle and develop relationships. In addition, last night, we had a group of 65 MBA students meet with 18 smaller companies at a spring recruiting event in Dallas. Students also have the option of attending a similar event in Houston.

We're also seeing a stronger emphasis in our program on the use of case competitions. We compete internationally against other schools and prepare our students to compete throughout the program. In fact, we have some of our recruiters come to campus to judge our more formal case competitions. That also gives students the opportunity to showcase their talents in a non-interview format. We've actually experienced some great success through our case competitions, recruiting-wise.

Thanks a lot, Wendy, for all of the helpful information on both the Mays College of Business MBA program, and the best ways to get into it.