Don, to start, Georgia is quite a selective program. It admitted just 22% of its applicant pool in 1997, making it the hardest school in our Runners-Up group to get into. What type of a student are you looking for?

One of the things that's different about our program is the diversity of the student body. We don't have a particular type of student that we identify as being most appropriate for admission. We're looking at a lot of different variables and backgrounds.

From the applicants' angle, what, generally speaking, do students seek out from the Georgia program?

We have a wide offering of functional areas, so we attract people with a lot of different interests. We do place the majority of people into marketing, finance, or consulting positions. So people with those types of interests will be most successful placement-wise.

Don, you're a veteran of the admissions process, having evaluated applications for the past 13 years. Over the course of your career, have you placed more emphasis on any one or two variables in the app packet?

Yes, I definitely have. Over the 13 years that I've been here, I've seen more emphasis being placed on the work experience. I think the marketplace is calling for people who bring a skill set beyond the MBA degree. Additionally, that work experience is a great contributor to classroom discussion -- you have to have that practical experience that can be passed around to your classmates. We believe in the philosophy that students should be able to learn as much from their classmates as they do from formal instruction.

How much work experience does the typical Georgia applicant have under his or her belt?

On average they have about four years of work experience. Moving forward, we'd like to see the clumping in the 2-6 year range. Right now we do have some candidates coming into the program straight out of undergrad or with less experience. We'll be decreasing that as we move forward.

What type of applicant does the Terry College of Business cater to? What type of student fits into the Terry culture?

I think candidates who have been in an environment where teamwork is integral to their success fit in well here -- where there is a lot of working together and camaraderie. It's very much of a team process here, where group projects and presentations are frequently assigned. Given the interactive nature of the environment, we're looking for students who are coming from positions where there is a good amount of interaction and who are comfortable with that interaction.

What particular programmatic strengths do you feel draw quality applicants to the program?

Our differentiation points revolve around two things. The first is the opportunity for students to structure their curriculum during their last two semesters. It's a very open format that allows individuals to structure the curriculum to suit their academic and professional needs. We have quite a bit of offerings in functional area specialties through the breadth of offerings that we have. Students can take trade finance, marketing, management, but can also go on to study some of our nontraditional business course work in real estate, risk management, and entrepreneurship. We see that as an opportunity that students don't necessarily have at other MBA programs.

I understand that the manner that you deliver those strengths will be changing for this fall, when the school switches to a semester system. Why is the school making the switch? And can you briefly fill me in on some of the changes that will be implemented with the revamped curriculum?

The school is making the switch as part of an overarching directive made by the Georgia University System (driven by the Board of Regents). And, as a matter of fact, the transition has actually allowed us to review what we're doing and has been a good exercise for us.

As far as changes are concerned, the curricular format will be in essence the same as what it is today in the quarter system. Students will still have a great deal of flexibility in choosing specialization areas, and will also be able to choose from new sequence offerings such as legal studies and organizational consultation. All of the department areas will have had an opportunity to incorporate the new offerings into their curriculums. So, for example, within finance, there will be some new courses in venture capital, and our MIS course work will be able to focus on the latest technologies, including the Web-based delivery of services.

The school offers two versions of its MBA: a two-year program for students without degrees in undergraduate business, and a one-year program for those who have undergraduate degrees from AACSB-accredited institutions. How is application pool divided? Is there any overlap between classes?

The two-year program receives the bulk of the applications -- probably about 80% of the pool. There is overlap in course work, given that the last two semesters in the one- and two-year programs are identical. We have had the one-year program since the 1930s.

What is Terry's official application total for its Class of '99?

We were at 905 for 1997 (for the full-time program only). And that was a 20% increase from the previous year.

How does that total compare with this year so far?

This year, as of our most recent count, we are running a little bit ahead of last year. We're up maybe 10% from this same time last year.

What do you surmise is behind the increase?

One of the biggest trends we've been seeing is in the growth of our international application pool -- that's been where our biggest increase has been over the last couple of years. I think that'll continue to happen for a couple of years to come. China and India make up 40% of our international application pool. Turkey is another place where we see a lot of applications coming from as well and probably makes up our third-largest influx of international applications.

Terry's class size has always been quite small. In fact, I believe this year, the total enrollment is just 163 students -- which is actually smaller than last year's class. Is that a result of the school's efforts to decrease the class size?

That's true, the class did shrink, but the numbers are not necessarily an issue for us. We make admissions decisions based on the quality of our pool of candidates. Numbers are secondary. The yield was a little lower than it had been previously, and that accounts for the smaller class size. We would actually like to see the program grow to about 180-200 students over the next couple of years. That means increasing the incoming class this year by 10-15 students and by a similar number the following year. The overriding goal will still be to admit candidates into the program based on quality first, however.

What was last year's yield and by how much did it decrease?

We were at about 58% for '96, and of the 905 applications we received last year, we accepted 22% and yielded 48% of that.

What percentage of Georgia's applicants are from the state of Georgia?

Of the application pool, probably about the 25% are from the state of Georgia, and that has actually increased some. As Atlanta continues to grow as an economic player, we're seeing a lot more people move into the region from outside of the Southeast. As those people have gained residency and started looking for graduate education opportunities, we have seen our resident application figures increase.

Is it too late to apply to the College of Business at this point?

No, it's not. It's getting late in the cycle, and typically, we have the majority of our decision made by Mar. 1. But, we are still accepting applications. Anyone who applies now is really going to be looked at on a space-available basis.

What are this year's remaining application deadlines?

Our recommended deadline is Mar. 1 (for the two-year program). The latest deadline that'll still give you a reasonable shot at admission would be early May.

What's the typical time frame for a turnaround in response?

We have a "modified" rolling admissions system here, where we have a "receive by, reply by" format. The deadline for applying to the program is the first of every month. Typically it takes about 4-6 weeks to hear back from us, based upon when we receive your application. Applicants can submit their applications as early as Dec. 1, and as late as May 1.

What are the different criteria assessed within the application packet?

The transcript, GMAT, recommendations, essays, a work experience profile, and we ask students to identify any honors they've amassed or activities they've been a part of. An interview is recommended.

I'd say that the GPA, GMAT, and work experience will carry most of the weight in the application, although there is no specific weighting of each variable.

How do you evaluate the GMAT, one of the three more important variables in the Terry application packet?

We don't have a cutoff on the GMAT score, but we try to identify if a candidate is competitive with the rest of the application pool. To be competitive, you going to have to be in the 580+ range, given than our median GMAT score is about 630. That's not an absolute, but to have the best chance of admittance, that works out best. There are folks who are accepted with scores below a 580, however, because of some very unique attributes uncovered by the interview, transcript, and/or work experience.

We look at the total score first, then we'll look at the quant segment second. Next comes the verbal end, and the AWA (Analytical Writing Assessment) is the final segment that we review. We do like to see students have a minimum competency with regard to the quant score because the first year is somewhat quant-oriented. I get a little uncomfortable when the quant end dips below the 50th percentile [which translates to scoring a 33].

Are you seeing an increase in GMAT scores being submitted now that the Computer Adaptive Test (CAT) is in place?

To date, we haven't seen that trend. We're not receiving GMAT tests at any faster a clip than we did when it was still the pencil and paper version. There may be some increase overall, but it's really too early for us to see that big of a difference.

You mentioned that interviews at Terry are not required, but strongly encouraged. In 1997, just 36% of the class was interviewed. How's that effort going this year so far?

We're actually placing a lot more emphasis on the interview. I would say that number is easily going to increase by 10%-15% this year. All of the interviews are done on a volunteer basis, except for those domestic applicants who have less than one year's worth of work experience. If an international candidate falls below that year's worth of work experience, and we feel that he or she is a good match with our program, then I'll try to do a phone interview with them to check on their communication skills. But that doesn't always happen.

Moving forward, we'll probably be doing things to try and sit down with more students; that means conducting more interviews at the MBA Forums, visiting selected cities to interview, and incorporating more alumni into the process. To date, everything in the interview is done on campus. We intend, over the next couple of years, to expand the ways in which we establish personal contact with applicants.

Do you have a target in mind, as far as how many applicants you plan to interview?

I'd like to sit down with probably 70%-80% of the application pool. Currently I'm probably visiting with 50%-60% of the total applicant pool. And, as I said, we've begun doing some phone interviews with international applicants to follow up our read of their files. That allows us to see whether their communications are up to snuff. Ideally I'd like it if somebody from the admission office was able to sit down with everybody here on campus. But obviously, if we have as many international candidates as we have had, then we need to increase the number of people conducting the interviews, involve our alumni much more, for example.

How does the interview fit into your overall evaluation of applicants?

It's one piece of the puzzle. For some people it can make a significant difference depending on their paper profile. For others, it might not affect them that much. We get applications from strong candidates who we know will be successful in our program. But we also get people who are in the gray area -- for those people the interview can make a big impact.

How does a typical interview unfold?

My interview is somewhat formatted. I am looking very much at the applicants' ability to present themselves, both through their verbal and nonverbal communication skills. I like to determine their background: where they've been, where they plan to go, and how the MBA fits into their plans. I'm trying to determine their focus and motivation as best as I can. We're also trying to determine if there is a good fit. We try to ascertain what strengths and weaknesses each candidate might have with their job search at the conclusion of the program. How much will we have to help them in their job search and how much can they do on their own? It is very much of an opportunity to evaluate communication skills because we do realize that those skills are very important in the classroom and when they return to the workforce.

How long does the interview session generally last?

All of our interviews are formal, and last 35-40 minutes.

What advice do you have for those planning to sit down with you for the interview?

They should approach the B-school interview in the same way they would approach a job interview. Be prepared to communicate their background, their ideas, and their thoughts as articulately as they can. They need to be able to identify for us how the MBA is important to their future goals and objectives. And, just as important, they need to demonstrate how they would be a good fit for the MBA program here.

Who interviews at this point?

I do 95% of the interviews. Depending on my schedule, I will send any interviews that I just do not have the time to conduct to career services personnel or to Kay Keck, the director of the MBA programs here.

How many essays are included in the Terry app packet?

Candidates must respond to five required essay questions and may also submit a response to one optional essay question.

Do the essay questions change frequently?

We were pretty consistent with them until this year. We modified almost all of them and introduced three new ones.

What do the essays now entail?

We ask candidates to identify a situation where they had responsibility and what they learned from it. We want them to evaluate specific managerial or leadership traits that they've developed or exposed. We want them to identify for us what their ideal post-MBA position would be. What attributes and experiences make them a match for that position? As a subset to that, we want to know what personal trait or part of their background presents the greatest obstacle to achieve their goals. Describe for us what unique events, life experiences, and qualifications might distinguish their candidacy. Discuss what you like to do with your free time and what your interests are. Then, the optional question is open-ended, and gives candidates the opportunity to tell us something about themselves that we haven't asked.

Are there enforced word limits attached to the essay responses?

No, there's no enforced word limit, but we're looking for the responses to be no more than two pages, double-spaced.

Is it a red flag when you see essay responses spill over that two-page limit?

Yes. It goes back to their ability to effectively communicate. They ought to be able to answer each essay question within two pages. If they don't do that I suspect that they will not be successful in the classroom. Time management is very important here, and you have to learn to communicate in writing effectively to be successful in the program. An expression of ideas on paper will also spill over to their oral communication skills -- another area where you need to be able to efficiently articulate your thoughts.

Can you describe any other red flags that applicants should be aware of in the essay section?

I think that sometimes what candidates try to do is get too involved with giving us the right answer -- they want to give us what they think we want to hear as opposed to really telling us about themselves. We're looking for honesty and a diversification of backgrounds, not a cookie-cutter answer.

How many recommendations do you require?

We require applicants to submit three letters of recommendation.

How do you like them split up, ideally?

I would prefer, for those candidates who have been in the workforce for some time, that all three of the references come from professionals. I want to hear from somebody who has been in the position of working closely with the candidate in a supervisory manner because it's those people who can identify the things that the candidate needs to work on. We don't expect a candidate to come in with a complete background with no faults. We frown heavily on personal-type recommendations, as well as recommendations that are provided by people that don't know the candidates very well but carry a hefty title. Quite frankly, we're more interested in hearing from people who have valuable input and no title.

Recommendations seem to be the only elements of the application that the candidates really have no control over. Sometimes a tardy rec can be the reason an entire file is shoved off to the side and may not even get reviewed. What should folks out there do to avoid that catastrophe?

We actually have a self-completing application, where applicants are first supposed to gather all of their recommendations and then send in the application to us. Generally, I think candidates should send their reference forms out four weeks in advance of their target date for sending in their completed application.

Don, you've indicated that work experience is playing a greater role in Terry's admissions process. What can applicants with little to no work experience do to bolster their chances of acceptance?

Well, last year (1997), only about 14% of the class had less than one year of work experience, while only 8% of the class came straight out of undergrad. This year, we probably want to reduce those percentages to 10% and 5% respectively, and will decrease them further in the future.

Applicants with little work experience should really hold off from applying for a couple of years and hit the job market for a while. I think garnering that experience will really do them a service once they return to the classroom.

Do you allow accepted applicants to defer?

Yes, usually for about one year.

Do many people ask for and receive deferrals?

We'll have probably 15-25 deferrals a year, depending on how many requests there are. Deferrals are granted 95% of the time.

Do deferred applicants have to reapply if they decide to defer for over a year?

We ask them to reaffirm their commitment, and then they can ask for an additional extension. Not a lot of people defer for greater than one year, though.

Does Georgia utilize a waitlist?

We do have a waitlist, and it runs as high as probably 50-70 people at any point in time during the admissions cycle.

What can those who are waitlisted do to better their chances of acceptance?

If a waitlisted candidate has not come in for an interview, that's the first and most important thing they can do. If they're really interested in attending the College of Business, then picking up the phone to call to let me know that is also quite important -- that has an impact on me as I'm going through the list. Let me emphasize that letting me know of your interest in Georgia's College of Business MBA program is good, as long as you don't call me everyday!

How many applicants generally get tapped from the waitlist annually?

An average of about 10 people are taken off of the waitlist each year.

What's this year's tuition?

For residents, it's $3,069 each academic year, and for nonresidents, it's $9,630.

Is that tuition price tag fixed?

No, we anticipate it'll increase about 5%-8% annually.

Can nonresidents apply for residency during their second year?

If they have done certain things a year prior to their petitioning, then they have a good chance of becoming a resident during their second year. But it's not an easy process. A student would have to indicate that they really were establishing residency, not just dropping anchor for a year. There is, however, a growing number of students here who are interested in the geographic location and the local economy.

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

It's going to range, depending on whether you're living on or off campus, between $7,000-$9,000. Most students live off campus.

What is the Athens area like?

It's very much of a collegiate environment. There are about 90,000 residents, and another 30,000 students. The size of the university offers a lot of diversity to the student body, while the local area offers a nice music scene. REM still lives here, and there are lots of music acts coming out of the Athens nightlife. What's nice is that Athens is a big enough city to have a lot to do outside of the school. In addition, we're conveniently located near Atlanta. It takes about 45 minutes to an hour to get there by car.

Let's get back to financing your MBA education. What kind of financial aid and scholarship does the University of Georgia have available to its students?

We offer assistantships and scholarships. I'd say that approximately 50% of our student body is on some form of graduate assistantship. Assistantships have a base stipend of $4,000, with additional funds on top of that -- the upper end is probably around $8,000. What's more significant than the dollar amounts of the assistantships however, is that any student on an assistantship is granted a fee reduction that decreases the tuition and fees to approximately $700 per academic year. So, an assistantship to us is really a full-tuition scholarship plus some stipend. All assistantships are based on merit [which is primarily evaluated with the GPA and GMAT, with work experience used as a third component].

Typically scholarship is supplemental to assistantships, but they can be stand-alone as well. I'd say probably 70% of the scholarships granted are supplemental to an assistantship award. That's an area where we have had significant growth. We've gone from a budget of $60,000 in scholarship to close to $200,000.

Where's that influx of money coming from?

Mr. Terry, who contributed money to the school some time ago [and for whom the College of Business is named], earmarked some money for MBA scholarship. The rest has come from friends of the university who wanted to be involved. The majority of the scholarships are provided for by private individuals, and several of them are company-sponsored. It's also significant to point out that there are several banks -- NationsBank, First Union, Synovus, Trust Co., and Wachovia -- that have contributed funds to support the assistantship program. Officially, they contribute funds to our Bank Scholars Program, but that's basically a facet of the assistantship program.

Are a majority of students also receiving loans from the Financial Aid Office?

Given our assistantship program, which has the built-in tuition reduction woven into it, I'd say a fairly small percentage of the class is dependent on loan assistance. Loans are an option for them, but for the most part, the assistantship program alleviates a lot of the financial pressure.

What would you say is the average amount of debt Terry students have accrued by graduation?

My guesstimate would be probably something less than $10,000.

As you alluded to, Don, the economy in the U.S. Southeast is booming. Has that positively affected the pay packages Terry students are netting after graduation?

Yes, most definitely. The last two years have been the best two years for us. We experienced a 17% increase in average salary in 1997 over 1996. Right now, we're optimistic that it'll jump another 10% going forward this year. If I were to project, I'd say that our students are grabbing an average starting salary of around $60,000 [not including bonus]. We're seeing a lot more in the way of bonuses offered to our students as well.

Has the college's recruiter base been mushrooming along with the local economy and its myriad job opportunities?

We have had some new companies recruit on our campus. Last year we had five new companies hire 18 grads, which is about 20% of the actively seeking employment class [second-year students]. We've had several new companies this year as well. The last two years have been very much a growth period for us.

Are most of the companies recruiting on campus from the Georgia area?

No, not necessarily. We have a lot of companies coming here who are from outside the Georgia area. For example, Philip Morris and EDS are regular visitors to our campus. A couple of new companies now recruiting on our campus include Fannie Mae and Delta Air Lines -- who just came aboard last year. So, it's not necessarily a regional thing.

In addition to sitting down with our on-campus recruiters, our students benefit from several consortia held in Chicago, Washington D.C., and Atlanta, and also participate in career fairs in Orlando and Miami. So, there are really five career fairs/consortium opportunities for students to take advantage of in addition to the companies that come here to recruit. We've seen a lot of good opportunities come out of the consortia. For example, this year, we have five job offers on the table at Intel, and all of those were developed through consortia contacts.

How many companies actively recruit on campus?

This year, 45 companies came through the MBA office to conduct interviews with MBA students only -- that doesn't include the company contacts we have that come through the university's central career services office, or companies who have contacted us directly.

The consortiums are another avenue for our students to take. They come close to adding 50%-80% more recruiters to our company pool. So, as a small program, we bring a fair number of companies on campus and are looking continually to expand that. We don't want to become isolated, but instead, want to provide as much and as wide a diversity of opportunities to our students as we can. We also have students who have taken advantage of Web recruitment opportunities by going through several forms of outplacement services available on the Web.

Don, based upon your experiences as both an MBA applicant and admissions chief, what should aspiring Terry MBA students think about when putting together their application package?

They need to have already done research and given thought to their career objectives and how the MBA gets them to their career objectives. Today's MBA is a much more focused degree. Companies are looking for very focused individuals who know what they want and can accomplish their objectives. So, I think it's very important that you do some research and inward searching. Obviously, you need to be able to articulate your research and direction as much as you can in the application.

Who are the Terry College of Business's toughest competitors?

We actually ask that question in the application: "What other schools are you applying to." We see a lot of overlap with UNC-Chapel Hill, U. Texas, and Emory. That's really the main group. But we also overlap with Vanderbilt, Duke, UVA, and Indiana. So, it's really not one group of schools that we compete with for students, it's pretty diverse. Emory provides the most overlap, however, which I think is really a function of proximity.

Thanks for your time and advice, Don.