Investment Banking Career and Job Information

Courstesy:http://www.careeroverview.com/investment-banking-careers.html

The Article below is taken from the above mentioned website credit goes to the author of the article I am just pasting here to have investment banking related information at one single place.

Investment banks are in the business of providing governments and corporations with investment services, including buying, selling, and trading securities, managing assets, and giving financial advice. The five leading investment-banking firms fill the Bulge Bracket of investment banking: Morgan Stanley-Dean Witter, Merrill Lynch, Salomon-Smith-Barney, and Goldman Sachs.

Regional investment banks like Piper Jaffray fill the middle of the market, while small investing ‘boutiques’ are organized on the local level and specialize in M&A advisory, bond-trading, program trading, and technical analysis. Investment banks are made up of departments that hand specific areas of investment. Sales and trading departments serve securities holders, investment banking departments serve governments and organizations that issue securities, and capital markets departments help mediate the securities exchange process. A review of the services offered ad Goldman Sachs can help you understand how investment banks are structured.

Investment Banking Career Insights

• Work Ethic, You Got it? They Love it?
  
  Those who work in investment banking will tell you there’s a lot of risk, and a lot of work, but also a lot of satisfaction. Entry-level employees should expect long but stimulating work days in which the mood can regularly shift from energetic elation to frantic frustration, depending on the situation.
  
  
• Not an Easy Boat to Catch!
  
  It is difficult to get started in investment banking, and those who make it do so by getting all the education and experience they need, and then relentlessly engaging the investment banking industry.
  
  
• Bankers: Less Scrooge Than you’d Think!
  
  The ‘bah humbug,’ view of bankers is for the most part blown way out of proportion. In fact bankers do a great deal for society by providing companies with the funding necessary to create products that make our lives better.
  
  
• Get Your Foot in the Door with Analysis
  
  A great place to begin in the investment banking industry is working as an analyst. Successful analysts work hard, understand spreadsheets, and have fine analytical skills. Analysts can be promoted to associates who do similar work, but more of it.
  
  
• Wanted: A People Person Who Finishes What They Start
  
  Further advancement in investment banking is based on how well you can negotiate with clients and close deals. In addition, professionals wishing to move beyond mid level positions should understand the political changes, macroeconomic variables, and market trends that all affect deal outcomes.
  
  
• Math Ability is a Plus
  
  There are well-paid, well-respected research positions available in investment banking for mathematicians. If you plan on a graduate degree in stochastic calculus, differential equations, or other advanced mathematical fields, taking classes in advanced financial theory like bond valuation and options pricing can increase your job competitiveness. Some of the most elite financial training available is offered through the Carnegie-Mellon FAST program.
  
  
• Learn Accounting
  
  Analysts will undoubtedly need to understand and be able to interpret accounting data. Those interested in a career as a securities analyst will need the Certified Financial Analyst credential. In addition, those interested in working as a corporate financial analyst will benefit from the Certified Management Accountant credential.
  
  
• Traders are Versatile
  
  There is no concise list of the attributes of a successful trader. You’ll need fast reflexes, market savvy, impeccable analytical abilities, and poker-faced bargaining skills.
  
  
• Hope You Like New York
  
  Almost all big investment banks are based in New York. Whether you plan on working in other areas of the country, or right on Wall Street, the hiring process will probably take you through the Big Apple. Multiple trips to New York are par for the course for anyone interviewing for positions in investment banking. In addition, Toyo, Moscow, Singapore, London, and Hong Kong all have international financial districts.
  
  
• Teamwork! Teamwork! Teamwork!
  
  An investment banker who can get high-powered professionals to work together to serve clients is a powerful asset, and they will be recognized for their efforts.
  
  
• Lawyers and Scientists needed
  
  Lawyers and Scientists help in a variety of areas within investment banking. Lawyers assist in the development of securities, in business lease sales, and in client negotiations. Scientists assist in everything from financial derivatives to algorithms, to bio-tech banking. Still Scientists and lawyers must work to get into the industry. Those who are successful usually add a prestigious MBA degree to their repertoire before applying for a position.
  
  
• It’s About Who You Know
  
  If you want to get into investment banking, you need to begin now creating contacts. Attend conferences, hold informational interviews with companies, and talk with your school’s alumni. Do what it takes to get a foot in the door, and remember that it takes time for networks to become established and start producing results. A good way to start if you are still young is to get accepted into a highly rated MBA program and focus on quantitative and analytical studies.
  
  
• Learn to Finish What You Start
  
  As an Entry-level employee in investment banking you will often write reports, do research, and handle trades, run spreadsheets, and code programs. You need to be fast, accurate and complete. As you gain experience, you will have the chance to work with clients. Your efforts to increase customers will be recognized handsomely. Directors, managing directors, and other upper level employees are evaluated more closely on performance than lower ranking employees.
  
  

Job Opportunities

• Corporate Finance
  
  As a Corporate Finance professional you assist organizations in acquiring funds necessary for day-to-day business. You evaluate how much capital an organization will need and make recommendations about appropriate investment strategies. The first stage of your career will likely be spent as a member of a client team staffing conferences for securities investors and arranging registration statements. The leaders in corporate finance are Salomon/SmithBarney, PaineWebber and Merrill Lynch. Because corporate finance positions are sometimes categorized as Investment banking jobs, recognize that the titles IBD and IBK are in reality corporate finance positions.
  
  
• Mergers and Acquisitions
  
  Investment banks make a lot of their money mediating mergers and acquisitions. This has become a popular financial move in the past decade and should persist into the unforeseeable future. Professionals in this field support corporations in the merger and acquisition process by helping them settle on equitable, profitable deal. The Mergers and acquisitions industry powerhouses are Morgan Stanley/DeanWitter and Goldman Sachs. More and more investment banks are getting into ‘Merchant banking, where investment banks handle spin offs, bridge loans, and LBO’s on their own. As an M&A professional you could be responsible for determining how much involvement your client should have. Opportunities to work with clients will come, but be prepared to work heavily on spreadsheets and valuation models.
  
  
• Project Finance
  
  Project finance professionals develop funding methods for oil capital and infrastructure projects using a corporation or government’s primary balance sheet. Deutsche Bank and CSFB are prominent names in this profitable industry. Much of the initial foreign investment monies to reach Yemen, China and Indonesia were Project Financed Capital. Even when most loan options are gone, corporations can usually depend on project finance to provide necessary capital.
  
  
• Trading
  
  Trading and Sales are highly sought after investment banking positions. As a trader your duties include carrying out bond, currency, equity, futures, and options sales with traders at investment banks, institutions, and commercial banks. In addition to market understanding and knowledge of financial tools, a trader must be able to read people and handle a chaotic work environment. Equity traders spend a lot of time convincing other traders why their product is a good investment purchase, while fixed income traders must be able to use their analysis skills to handle expansive inventories in sometimes-weak economies. Derivative trading is extremely technically demanding and requires an engineer’s analytical abilities. In contrast Foreign exchange traders rely less on analytical skill and more on economic intuition.
  
  Other trading positions include commercial paper, repossessions, and agency securities.
  
  
• Structured Finance
  
  Working in structured finance, your duties will include developing financing methods that shift capital to clients (also called asset-backed securities). Asset-back securities generally involve auto loan and credit card receivables, or mortgages. In the late 1990’s structured finance was an extremely profitable sector and will likely continue to be so. Other areas performing well are collateralized bond obligations (CBO’s), asset-backed commercial paper, and repackaged asset vehicles. Accounting know-how, legal understanding, and spreadsheet skills are important for work in structured finance. However, because most college graduates have little experience in those areas, studying up can give you an advantage over other applicants. Valuable information and business vocabulary can be found in magazines like Standard and Poors CreditWeek, as well as through informational interviews with market professionals.
  
  
• Derivatives
  
  Derivatives are an old, but reliable form of security, and include Swaps, futures, and options. The Derivatives market is huge, and so are the opportunities for profit. With increased advances in exotic options and swap structures, the industry will likely grow under tight watch. Growth will demand an increases number of specialists to handle all the technical aspects of derivatives, so if you want to work in this field, begin now learning common model derivation like black-scholes, as well as stochastic differential equations. You’ll probably have to demonstrate your technical understanding during the interview process. Salesmanship also plays a role in Derivatives.
  
  You might see the phrase ‘structured note’ as you read about derivatives. A ‘structured note’ is a futures contract, foreign exchange loan, or forward that is designed for a client’s specific needs. For instance, a client could purchase a foreign exchange loan with a built in “knock-out” option set to go into effect once the currency ratio drops beneath a predetermined price level. Another favorite is credit derivatives that have selling options set to activate if a company is unable to honor a debt.
  
  
• Advisory
  
  Investment banks offer advisory services in mergers and acquisitions as well as general financing to public and private sector customers. Risk management is another common advisement area. The work focuses on evaluating the value and industry status of a client, and recommending ways for clients to improve.
  
  
• Equity and Fixed Income Research
  
  As a Securities Analyst you often work in specific industries areas offering stock and bond advice to investors. You serve as the contact for investors and companies and work closely with clients in the investment process. Investment banks usually prefer professionals with industry specific experience over those coming straight from graduate school. For instance, an MBA who has worked in retail management is more likely to get hired as a retail industry analyst than someone who’s only got the schooling. In order to keep your firm off the list of worst analysts, you have to understand the industry, understand how to communicate with customers, and you have to be able to read the market. There are two types of analysts: fundamentalists and quants. Fundamentalists are those who look at company leadership, revenues, and other details to give investment advice. Quantitative analysts (quants) are less common, but often make more money because of the technical difficulty of the work. Quants use complicated computer systems to determine undervalued investment products, industries, and countries.
  
  
• International Sales/ Emerging Markets
  
  International sales is quickly becoming a leading investment field. In spite of recent problems in Asia, investors are still anxious for investment opportunities in Thailand, Mexico and other burgeoning economies around the world. Thus, the demand is increasing for analysts who specialize in international investing. Because Investment banks are in a hurry to find employees who can speak foreign languages, who understand the developing markets, and who don’t mind traveling, young employees can get a head fast in this field. However, there is a measure of instability in new markets, so you are advised to research a firm’s performance carefully. Bloomberg has helpful web page that follows international investing.
  
  
• Public Finance
  
  Analysts, municipal advisors and traders are all needed in the gigantic municipal bonds market. Though hard to get, public finance positions are well worth the effort.
  
  Those who have worked in public administration will be well suited for this work. Of particular interest in public finance is project finance. In 1995 60% investment work at Tucker Anthony was related to project finance, where a few years before that, it had only been 15 % (Bond Buyer August 15, 1995)
  
  
• Retail Brokerage (Stockbroker)
  
  Stockbrokers assist customers in purchasing and selling stocks, bonds, mutual funds, and other investment products. While many brokers work exclusively with wealthy clients, there are plenty who handle the investment needs of the general public. Retail brokerage is a difficult career to start, particularly if you are young. However the broker with sales and communications skills can do very well. According to the Securities Industry Association, in 1993 the average yearly income for a retail broker was more than $125,000, with several making more than 500,000. Gaining experience and training from Merrill Lynch or another well-known company is a good way to start. Check out The Syndicate website for more information on a career as a broker.
  
  
• Institutional Sales
  
  Working in Institutional Sales you provide detailed descriptions of investment opportunities to institutional investors. You often work closely with portfolio managers, analysts, and traders. Product understanding, salesmanship, and tough negotiating skills are all essential. Experience on the selling side with Investment banks will help you get ready to work on the buying side with mutual fund and insurance companies. Either side of the business is tough, but profitable. The Securities industry Association reported that institutional sales representatives averaged more than $300,000 a year in earnings.
  
  
• Computer Guru
  
  Because effective trading, pricing and office software and networking can give companies the upper hand, Wall Street offers some of the most profitable computer and information system positions available in the market. Recruiters for some of largest Wall Street companies have been offering hundreds of thousands of dollars to programmers who can design effective UNIX software and financial programs.
  
  
• Ratings Analyst
  
  A good way to get your foot in the investment-banking door is by working as a ratings analyst. Upward movement is rare and good pay is even rarer, but Investment banks always keep an eye on ratings agencies looking for hot analysts. Successful ratings agencies like Moody’s and Standard and Poors rate trillions of dollars every year and employee hundreds of analysts to help them evaluate the credit of both organizations and government bodies. They make their money by charging issuer fees. There is a great need for qualified analysts who can rate corporate and structured finance bonds. S&P’s corporate ratings department manager Edward Emmer states that because it is difficult to determine an organization’s credibility, “it’s up to our analysts to be smart enough to ask the right questions.
  
  

Tips and Trends

• Resumes do best when sent at the end of the year.
  
  January and February are typically when companies take on new employees. However, even if you don’t get hired right away, stay at it. A Salomon Smith Barney Analyst described the effort it takes to break into the business: It’s basically a numbers game. Contact lots of people.” In addition, he suggests you adjust your approach to fit each company you approach, which means: “It’s going to be pretty much a full-time job.”
  
  
• Follow Up!
  
  The new hiring process usually slows down in April, but many professionals make career changes during the summer months, so often corporations are looking for employees at the end of the summer, and getting a job is easier. This is a good time to re-contact the firms you have interviewed with and let them know you’re available.
  
  
• Investment banking: The Global industry
  
  Investment bank professionals can routinely find themselves working with companies in New York, Los Angeles, and Dallas just as easily as they can find themselves coordinating investments for companies in Brazil, Japan, or Beijing.
  
  
• Investment Banking: WIRED!
  
  Online companies like E-trade DLJ and Deutsche Bank provide internet trading services to clients all over the world. W.R. Hambrecht and Wit Capital are the worlds leading online securities origination firms. Online investment firms are sure to continue their booming success.
  
  
• Consolidations rampant in Investment Bank Industry
  
  Mergers have occurred in Investment banking at a dizzying rate over the past decade. Smith Barney and Salomon, Citibank, Dean Witter and Morgan Stanley, Bankers Trust, SBC and Montgomery Securities and Bank of America, Warburg and Dillon Read, and UBS have all been through mergers recently, and many of the more companies are continuing the consolidation process.

Investment banking: The hot new MBA destination

Courtesy:http://www.rediff.com/getahead/2005/nov/11place.htm

The Article below is taken from the above mentioned website credit goes to the author of the articleI am just pasting here to have investment banking related information at one single place.

The hot new destination for campus placements this year is Investment banks or I-banks

An investment bank is a financial intermediary between the public and a corporate. It advises corporates on mergers (when two companies join and become one company), acquisitions (acquiring another company), new issues (when a company offers shares in the stock market) and other such financial matters.

Some examples would be SBI Capital Markets, Morgan Stanley, Saloman Smith Barney, Goldman Sachs, DSP Merrill Lynch and J P Morgan.

• 
  

Second-year students Neha Singh and Ashin P Thariyan from IIM-Calcutta completed their summer training at I-banks abroad in 2005.

Neha Singh, a computer engineer from Netaji Subhas Institute of Technology (formerly DIT), Delhi, joined IIM-Calcutta as a fresher last year. She did her summer internship with Lehman Brothers, Hong Kong.

Ashin P Thariyan, an engineer from IIT-Delhi, worked as a software engineer in Virtusa (India) Pvt Ltd, Hyderabad. He completed his summer internship with Deutsche Bank, London [Images].

As part of a reader-driven series on campus placements, Neha and Ashin share their experiences and help you gear up for your I-bank interviews.

Neha's tips

i. What an I-bank looks for

Typically, you are expected to have good analytical, quantitative and communication skills. You must be able to work well in a team. You must be very committed and display leadership potential.

Accordingly, candidates should highlight these aspects in every way possible.

For example, a background of winning in Mathematics competitions would indicate good quantitative ability, an engineering background may indicate analytical ability, an excellent academic record throughout school and college shows hard work and commitment, positions of responsibility showcase leadership potential and an ability to work with a team.

It is not necessary to have all these aspects, but it is important to highlight the ones that are your strengths.

ii. How to prepare

~ As background preparation for the interview stage, reading the first six chapters of Options, Futures And Derivatives by Hull and introductory parts of Introduction To Corporate Finance by Brealy Myers can prove useful.

~ Puzzles and questions on probability are often asked, so it is a good idea to practise a few to set your mind thinking.

If asked to solve such questions in the interview, it is important to think aloud to guide your interviewer through your method.
They are more interested in your thought process, than in the final solution.

~ Preparing personal questions is important.

Be very clear about the reasons for your choices at every transition point in your life, especially the reasons why you took up management and why you are interested in I-banking at this point.

~ Indicate a particular I-banking function you are interested in only if you have in-depth knowledge of the division.

~ Other aspects to prepare for could be strengths, weaknesses, instances of leadership/ failure, etc.

iii. 'Do you have any questions for us?'

Don't decline. Be prepared with at least two questions about the company, the more specific the better.

Remember, cracking summers is a lot about being confident of yourself.

Ashin's tips

Preparing for interviews with I-banks on campus can be a tough job. While there will be a few candidates for whom the banks would be falling head over heels, most people have to put in some effort to get an I-bank offer.

You are not expected to be super knowledgeable in the technical details of finance. But, as the years go by, it is possible that the level of knowledge expected from students would increase.

Apart from the usual interview skills, here is what a student should brush up on for an I-bank interview:

i. Spruce up your finance knowledge

Familiarise yourself with the working of fixed income markets, derivatives, etc.

Fixed income markets: This refers to the bond markets. A few basic things to learn would be bond yields which are a measure of the returns you get on a bond given the price you pay for it and the coupon you get, duration of bonds, term structure of interest rates, how interest rates vary as term to maturity of a bond varies.

Issues like low bond yields in US and reasons for it can be touched upon and could be helpful in the interview.

Derivatives: A derivative is a financial instrument that does not constitute ownership, but a promise to convey ownership. It derives its value from the value of an underlying asset.

Call (option to buy) and put (option to sell) options and their payoff diagrams are the basic things you need to learn in derivatives (all these need not be learnt by heart, though most I-banks would be more than happy if you are able to work out the diagrams during the interview).

Basic trading strategies using a combination of options and Black-Scholes Option Pricing Model (a model to find the value of options) are the next things you need to learn.

You could get started with derivatives by visiting http://www.investopedia.com.

Study material for derivatives can be easily downloaded from the National Stock Exchange's Web site. The material has been developed by the NSE to help people learn about derivatives.

The web site link is http://www.nse-india.com/content/ncfm/ncfm_modules.htm

ii. Get statistics

Questions based on probability would most likely be asked in your interview.

People with a strong quant backgrounds, especially those interested in research, can really get the interviewer's attention here.

iii. Puzzles

There are Web sites where you can find puzzles. It would be a nice idea to look at the mathematical and logical puzzles and try solving them. Remember, it's not necessary to solve a puzzle in the interview.

You should however think aloud while solving so that the interviewer can clearly see your chain of thoughts. You could also ask for some hints if you are stuck at some place.

One good Web site for practicing puzzles is http://www.rec-puzzles.org/.

iv. Economics

Learn about macro economic variables like inflation rate, currency exchange rate, and interest rates and how they are impacted under different monetary or exchange rate policies adopted by the government.

Again, the investopedia Web site is a good place to start off.

Be thorough with the current major economic issues in the world, like high crude oil prices and have a view on how you think it will pan out in the future, the Hong Kong WTO ministerial (and the Cancun meeting two years ago) and the major sticking points related to it, American trade and current account deficit and why it resulted in Chinese currency revaluation, the current China-EU tiff about trade, etc.

Expect some out-of-the-blue questions like where would you invest a million dollars if you had it.

Be ready with some ideas and their justification.

v. Books to read

Dynamic Hedging by Nassim Taleb: It talks a lot about options theory from a practical perspective. He also wrote a second book called Fooled By Randomness which is less applied and more philosophical. It's worth reading but only if you've covered everything else on the list.

Options, Futures And Derivatives by Hull: This is very mathematical and dry. But it is a fairly comprehensive overview of much of the financial maths that is used.

On a more lighthearted note, also read Liar's Poker by Michael Lewis, which gives an account of a US investment bank in the 1980s.

Sample SOPs/Application Essays

http://in.rediff.com/getahead/2005/jun/07study.htm
http://in.rediff.com/getahead/2005/jun/08abroad.htm
http://in.rediff.com/getahead/2005/jun/09study.htm
http://in.rediff.com/getahead/2005/jun/23gre.htm

SOP & Reco Guidelines

http://statementofpurposeguidelines.wordpress.com/
http://samplesop.wordpress.com/
http://recommendationletter.wordpress.com/

Everything About GMAT:Courtesy Daniel Spencer[http://exclusivegmat.blogspot.com]

Hi All,

I am Pasting the content from site mentioned in the title.Credit goes to the author of the blog.

Introduction to GMAT
The Graduate Management Admission Test (GMAT, pronounced G-mat) is a standardized test for measuring aptitude to succeed academically in graduate business studies. Business schools commonly use the test as one of many selection criteria for admission into an MBA program. It is given at various locations in the United States, Canada and around the world. Throughout North America and in many international locations, the GMAT is administered only via computer. In those international locations where an extensive network of computers has not yet been established, the GMAT is offered either at temporary computer-based testing centers on a limited schedule or as a paper-based test (given once or twice a year) at local testing centers. As of 2007, the fee to take the test is U.S. $250 worldwide.

Exam Format

The exam measures basic verbal, mathematical and analytical writing skills that the examinee has developed over a long period of time in his/her education and work. It does not measure specific knowledge of business, job skills, or subjective qualities such as motivation, creativity, and interpersonal skills. If a test taker's first language is not English, he or she may still perform well on the exam; however, the GMAT exam may not accurately reflect the abilities of someone whose first language is not English. Business Schools with a high proportion of non-native English speaking students tend to have a lower average GMAT score.

Verbal Section

The verbal section consists of 41 multiple choice questions, which must be answered within 75 minutes. There are three types of questions: sentence correction, critical reasoning and reading comprehension. The verbal section is scored from 0 to 60 points with a current mean of 27.3/60.

* Sentence Correction

This tests grammar and expression. Sentence correction items consist of a sentence, all or part of which has been underlined, with five associated answer choices. The test taker must choose the best way of rendering the underlined part. This question type tests the ability to recognize standard Written English. The task is to evaluate the grammar, logic, and effectiveness of a given sentence and to choose the best of several suggested revisions. Choice (A) repeats the original; the other answer choices vary. It tests the ability to recognize correct and effective expression. It follows the requirements of Standard Written English: grammar, word choice and sentence construction. The goal is to choose the answer that results in the clearest, most exact sentence and does not change the meaning of the original sentence.

* Critical Reasoning

This tests logical thinking. Critical thinking items present an argument that the test taker is asked to analyze. Questions may require to draw a conclusion, to identify assumptions, or to recognize strengths or weaknesses in the argument. It presents brief statements or arguments and ask to evaluate the form or content of the statement or argument. Questions of this type ask the examinee to analyze and evaluate the reasoning in short paragraphs or passages. For some questions, all of the answer choices may conceivably be answers to the question asked. The examinee should select the best answer to the question, that is, an answer that does not require making assumptions that violate common sense standards by being implausible, redundant, irrelevant, or inconsistent.

* Reading Comprehension

This tests the ability to read critically. Reading comprehension questions relate to a passage that is provided for the examinee to read. The passage can be about almost anything, and the questions about it tests how well the examinee understands the passage and the information in it. As the name implies, it tests the ability of the examinee to understand the substance and logical structure of a written selection. The GMAT uses reading passages of approximately 200 to 350 words. Each passage has three or more questions based on its content. The questions ask about the main point of the passage, about what the author specifically states, about what can be logically inferred from the passage, and about the author's attitude or tone.

Quantitative Section

The quantitative section consists of 37 multiple choice questions, which must be answered within 75 minutes. There are two types of questions: problem solving and data sufficiency. The quantitative section is scored from 0 to 60 points and the current mean score is 35.0/60.

* Problem Solving

This tests the quantitative reasoning ability. Problem-solving questions present multiple-choice problems in arithmetic, basic algebra, and elementary geometry. The task is to solve the problems and choose the correct answer from among five answer choices. Some problems will be plain mathematical calculations; the rest will be presented as real life word problems that will require mathematical solutions.

Numbers: All numbers used are real numbers.
Figures: The diagrams and figures that accompany these questions are for the purpose of providing useful information in answering the questions. Unless it is stated that a specific figure is not drawn to scale, the diagrams and figures are drawn as accurately as possible. All figures are in a plane unless otherwise indicated.

* Data Sufficiency

This tests the quantitative reasoning ability using an unusual set of directions. The examinee is given a question with two associated statements that provide information that might be useful in answering the question. The examinee then must determine whether either statement alone is sufficient to answer the question; whether both are needed to answer the question; or whether there is not enough information given to answer the question.

Data sufficiency is a unique type of math question created especially for the GMAT. Each item consists of the questions itself followed by two numbered statements. The examinee must decide whether the statements — either individually or in combination — provide enough information to answer the question.

(A) If statement 1 alone is sufficient to answer the question, but statement 2 alone is not sufficient.
(B) If statement 2 alone is sufficient to answer the question, but statement 1 alone is not sufficient.
(C) If both statements together are needed to answer the question, but neither statement alone is sufficient.
(D) If either statement by itself is sufficient to answer the question.
(E) If not enough facts are given to answer the question.

Analytical Writing Assessment

The Analytical Writing Assessment (AWA) section of the test consists of two essays. In the first, the student must analyze an argument and in the second the student must analyze an issue. Each essay must be written within 30 minutes and is scored on a scale of 0-6. The essay is read by two readers who each mark the essay with a grade from 0-6, in 0.5 point increments with a mean score of 4.1. If the two scores are within one point of each other, they are averaged. If there is more than one point difference, the essays are read by a third reader.[2]

The first reader is Intellimetric, a proprietary computer program developed by Vantage Learning, which analyzes creative writing and syntax of more than 50 linguistic and structural features.[3] The second and third readers are humans, who evaluate the quality of the examinee's ideas and his or her ability to organize, develop and express ideas with relevant support. While mastery of the conventions of written English factor into scoring, minor errors are expected, and evaluators are trained to be sensitive to examinees whose first language is not English.[2]

Most business schools don't weigh the AWA as heavily as the verbal and quantitative sections of the test. Some schools ignore the AWA altogether.

Each of the two essays in the Analytical Writing Part of the test is graded on a scale of 0 (the minimum) to 6 (the maximum):

* 0 An essay that is totally illegible or obviously not written on the assigned topic.
* 1 An essay that is fundamentally deficient.
* 2 An essay that is seriously flawed.
* 3 An essay that is seriously limited.
* 4 An essay that is merely adequate.
* 5 An essay that is strong.
* 6 An essay that is outstanding.

Financing your MBA

Don’t worry about financing your MBA. All you need to take care of is the application expenses (exam fees, application fees, sending scores to schools etc). For your MBA expenses, lets consider you have a good score and a good profile. Now, here are your options:

- The top schools are expensive and offer almost no scholarship. But they offer easy loan options. Nobody has had to reject an offer till date due to finances. The top schools make sure that you get a good loan to cover your MBA expenses. Of course you start paying back around 3-6 months after graduation.

- The other schools usually offer a good mix of scholarship and loans.
Once you are convinced that you can take it up, lets talk about your goals. Yes, its extremely important that you have your goals in place. DO NOT look for an MBA just because you HAVE to get a masters degree. You have to be inclined toward business and should feel confident about excelling in some field.

Work Experience

First, those are planning to get an MBA right after college, back out.( Unless you have extra extra extraordinary profile of course ). The schools wont be looking out for you and moreover, you will not gain much out of an MBA without work experience.

Next, the rest of the lot. You would have read about the average work ex in top schools being 5-6 years. Very true. But remember, its the average. That just means there about equal number of students with work ex greater than and less than 5 years.

The work ex is calculated till the time you will be in office before joining school.

Work exp of two years is where you can start thinking about. Three is better. Four even better. the more the experience, the more the schools perceive you to be focused in the career path you have chosen and the more the maturity in your understanding of business.

But here's another view. In case you are planning a shift of career, or deviating for your current job profile in any way, 2 -3 years work exp is a good time to get moving. Once you are completely into your line of work, its difficult getting a change ... say after 6 years. Please note.. its difficult, not impossible.

How important is GMAT Score?

Don't get all confused with voices from every direction making you comfortable saying "GMAT score is not everything". But that's a different sentence altogether. Yes, I agree GMAT score is not everything, but it matters a lot ! And its different for different profiles. Here's how it goes.

Woman A : Born and brought up in Mexico. Excelled all throughout in school and college. Awarded by the highest authority of the State for her extra ordinary performance in sports. Working with a multi billion dollar company as Senior marketing executive for the past 7 years. Started a small business last year, which is flourishing well and needs an MBA to grow further. GMAT score of 650 can fetch her the best of the schools! We're talkign about Harvard, Wharton... and the likes......

Man A : Champ in school. Champ in college. Champ in sports. Indian/IT/2years. Nothing extra ordinary. except GMAT score 780. This score still wont get him the best... but he sure has his options. The top 10 will consider him i guess. the next ten will be interested. The next lot will want him and so on....

The woman says "GMAT is not everything"
The Man says "GMAT Score Matters!"

So people, in my opinion, GMAT score matters in most of the cases.
"A good GMAT score will help you. An average GMAT score doesn't mean the end of everything".

Best time to give GMAT

Most MBA schools in US, UK and Canada have only Fall intake (August). Only a few schools have Spring intake too, but it isn’t such a popular option and thus I wont be talking about it. Lets consider you want to start your MBA in August 2008. Then, let’s classify the month in which you might want to give your exam.

Jan – Apr 2007: Early Head Start
This gives you more than enough time for school research and essays. I doubt many of you would be prepared that early though. Moreover, in case you get a bad/average GMAT score, you have enough time to prepare again.

May – July 2007: Best time
Something like the earlier one. You can give your GMAT again quite comfortably in case you need to. I think this is the best time to give your GMAT, as you have the right time for making that perfect application and catch the schools in Round1.

Aug – Sept 2007: Good Time
Just about the right time. Schools start accepting applications for Round1 by October. So you can catch a few schools in Round1 and leave the rest for Round2.
PS: I gave my exam on Sept 17th.

Oct – Dec 2007: Still good
Advantage: Round 1 for most colleges would have been over by now. Your target is round 2, the safe round (explained later). Most schools have their second round deadlines somewhere around Mid December to Mid January.

Jan – Feb 2008: Closing
This, according to me, is the last you can try your luck at GMAT. You could probably catch the third and final deadline of most schools. Besides you could get schools in Canada (I’ve heard some schools in Canada having their second deadlines around Mar/Apr)

Study Duration

3 months.

Yeah, 3 months is the duration of study you should target. This is considering you are currently working, spending about 8 hrs a day in office. 2 hours a day is good for a start (probably the first month), gradually stepping it up to 4 hrs over the months. Oh yeah I forgot to mention weekends a little over 5 hours should be good! (you’ll be giving mock tests on weekends).

Anything more than 3 months and you’ll find it a drag and might just lose interest. Remember….. Give your GMAT when YOU think you are ready. If you feel your date is too close, get it rescheduled. Maybe by a couple of weeks, not more!

Initially I had booked my GMAT on Aug 25th. By the first week of Aug, I felt I wasn’t ready and rescheduled to Sept 17th. That did make a difference!

THE TEST DAY

HAH !! Finally there!!! Some quick tips:

1) Stop studying one day before your exam. YESSSS… relax!!! Watch a movie (English, if that helps!)…. Treat yourself to your favorite pastime activity. Do everything you can to soothe the nerves. Sleep on time. And more importantly get up on time (hee hee!) :D

2) Go to the center 1.5 hrs before time. No harm getting there earlier… you’d just get adjusted to the atmosphere and temperature.

3) First comes the AWA section. 1 hour. Should gear you up for the significant part of the exam. You templates should be a life saver here. There is a break… Take it even if you don’t want to. Just go out of that space!! Eat a bar of chocolate. Drink water. And yeah.. go back to your seat on time, coz if you don’t, the timer will start and your test will start without waiting for you !!!!

4) Next is the Math section. Remember the first 10 questions are very important. Focus. Give a lil more time to it.. but of course don’t stick to them !! Keep a look at the clock..always! Next is the break.. TAKE IT.. JUST TAKE IT. Very very important…. Coz the next section is more taxing!

5) Eat a bar of chocolate (btw chocolates is the fastest means of energy. Gulp down energy drink.. something like RedBull…. Trust me, you’ll need it when you look at the RCs!!!)

6) Start with Verbal… I’ve heard of many cases where people fall short of time here… so please keep a look at that clock… all the time..

7) When your done, Take a deep breath and pray and ask for your score.

8) Of course you have an option to cancel your scores before looking at it. This would clear all records that you had ever given this exam. But once you see the score you cannot cancel it. I have always advised everyone NOT to cancel the score.. not worth it after all the pain… Jus go ahead and trust your hard work n stars!!!

Essays

A very important step in your application process. The essays you write is the only outlet through which you can put forward your true self to the Admissions Committee (hereafter referred to as ‘adcom’). Every school will ask for around 3 to 4 essays, topics ranging from Your Goals, Why MBA, Why Now, Career track, etc

If your budget permits, it would be good to take help from professional essay editing services. Remember, these people do not write the essays for you. They just help your essays look more presentable, helping you garnish it with better vocabulary and the right content. [I took services provided by Princeton… i'd rate them 2.5/5]

If you have done no community service, its time you do. Its quite an integral part of your application. The adcom is looking for a multi dimensional personality for their school.

Before you start with the essays, write down all your achievements, hobbies, anything special that you have done, anything that you feel is important, anything that you feel is not important!! just write it down…. You never know where can fit in the smallest of details.

Be yourself in the essays. DON’T.. I repeat DON’T write what you think the adcom wants to hear. Write what you feel the adcom should read to make them know you better.

EssayEdge.com gives free essay writing tutorials…. Read it before you start!

DON’T LIE… you’ll get caught. And if you get away, you not gonna be in peace!!! Learn how to blow up your achievements and hide your weaknesses.

Letter Of Recommendation

If you have a good boss like mine, this will be a breeze! :)

You’ll need two letters of recommendation (LORs) in most cases. You could get it from your current manager, your previous manager, your supervisor and as a last resort your peers (doesn’t hold much value).

Here’s a myth about LORs. “The higher the position and the more the power of the recommender, the more the impression you create with the adcom”.. WRONG… absolutely wrong. The adcom wants LORs from that person who has supervised you and can accurately assess you. I read this story in an interview with the Dean of a big business school (cant remember the name) --> They got an applicant who had a recommendation from the Prime Minister of his country. The adcom was put off for the simple reason that the Prime Minister may be a huge personality, but he doesn’t really know what qualities the applicant possesses!!

Don’t wait for the deadline to get LORs. Mangers usually get such requests in bulk and wont fancy servicing you immediately…. Give them enough time.

Interviews

If you’ve got an interview call, congrats!!

Interviews are telephonic (if you cannot attend in person) and lasts for about 30 – 45 minutes. The interviews are usually an attempt to know you better, as against the normal stress interviews you’ll find everywhere in India. They just ask normal questions on your intentions of joining the program and the school. Do a good research of the school before you attend the interview, this will give you a chance to impress them (Schools love the candidates who know why they are doing an MBA and why they have chosen their school).

The interviewer will be extremely friendly and polite. You have to be the same.

GMAT Strategies

Coutesy:http://targetoflife.blogspot.com/

My GMAT AWA strategies...

The AWA essays written by students taking the GMAT are rated usually by one human reader and a computer program called E-rater. These essays are marked on a scale of 0 to 6.0 and the score is rounded off to the nearest half point.

The E-rater is not programmed to appreciate your individual style of writing, humor, or yours inspirations. It looks for the style and structure of your essay to that of other high-scoring essays. The key to write a 6.0 point essay on the AWA section is to understand the algorithm of the E-Rater.

• A Sample Structure

- Restate the argument or your understanding of the issue
- Take a stand early
- Use PREP strategy
Point
Reasoning
Example
Point again
- Cover all your points in about 5-6 crisp paragraphs
- Conclude by restating your stand

• Key words to impress the E-Rater

- In this argument/issue
- To begin with
- First, Second, Third..
- In addition to…
- Finally, Additionally
- Further more, Moreover
- In sum, In conclusion
- Inorder to strengthen the argument
- For example,
- For instance,
- Not only…But also
- Another problem

• Some good links for AWA

Kaplan AWA

Majortests.com

800score.com AWA Essay guide

• Live Online E-raters

WayAbroad.com (Choose english from the top right corner)

• Bottom line…

Practice is an important for improving your essay writing skills. Always make it a habit to write your AWA essays along with all the Full length practice tests.

My GMAT Quant strategies...

Maths has always been the tricky part of the GMAT. The Questions appear to be simpler than they actually are! Yes, this requires some special care and a high level of concentration.

Books that I used -

• Basic GMAT mathematics fundamentals from Princeton review and Official Guide 11

• Kaplan 800 - Good collection of problems

• Permutations and Combinations, Probability, Statistics from class XI and XII mathematics text book
• Official Guide 10 and 11

The key to success in this section depends on your

1. Basics
2. Accuracy
3. Timing (Speed)
4. Concentration

123 strategy as defined in my earlier verbal strategy post applies for this section as well. Here the 123 becomes 1234 where 4 stands for Concentration

Don’t get carried away with a good score in some full length practice test! Practice is the most effective way of improving and sustaining your good score in the Quant section.

My GMAT Verbal strategies..

• Books and material

Hard copies
- Princeton review …good basics book
- Kaplan 800 … toughie
- OG 11 … good set of GMAT level questions.. will not call it bible… there is much more to GMAT than just OG
Soft copies
- Manhattan SC (must read for improving your SC hit rate)
- Manhattan CR,RC … nothing much to gain from… you can still read it as it is quite closely integrated with OG and can give you some good starting points. I read this after I had read other CR and RC strategies (from kaplan, princeton, 800score.com)
- OG 11 verbal review
- OG 10
Other material
- SC1000
- questions floating on scoretop.com , pagalguy.com , gmat_may2007@googlegroups, prachi_parekh_gmat@yahoogroups
- 800score.com material

• 123

Always remember the simple principle for GMAT preparation… work on your basics, get a feel of the questions, improve your accuracy and then time yourself.
My 123 approach is
1. Basic
2. Accuracy
3. Speed
Do not try to move from 1 to 3 or directly 3… it is extremely important that you go step by step.

Princeton Review and Kaplan GMAT are good books for your basic preparation. Keep working until you are comfortable with all types of questions. Ample number of questions are available online to test your accuracy. Continue with questions till you reach an accuracy atleast greater than 85%. Start timing yourself and target your speed to
SC-1 to 1.5 min
CR-1 to 1.75 min
RC-1.5 to 2.0 min (including time taken to read the passage)

• Practice Tests and actual exam

Do not panic! Keep your cool and keep talking to yourself… keep faith in the system and your capabilities.
GMATPrep 1 - try to give this exam around atleast 10/12 days before the actual test
GMATPrep 2 - 2/3 days before actual test

Other tests… you can give them at any time depending on your level of preparation

• Bottom line

Work hard…Never lose hope …and believe in yourself… after all GMAT is just an exam… there is more to life than just this shitty exam… Give yourself sufficient time for other important things too

All the best! Feel free to ask any specific questions… I will be happy if I could help in any way

Disclaimer - I have just tried to put down my beliefs and strategies which worked for me. They may or may not work for you

HOW TO SELECT A UNIVERSITY

HOW TO SELECT A UNIVERSITY

All that is written below is meant for serious students only.

1.Does it make much difference if the university is public or private? I need financial aid for my studies.
Let me answer first whether you should choose a state or private univs.In your case this is important since you are living in USA. You should go for a public univ if in-state fee is applicable to you.I hope that you understand this. If you are a citizen or a green card holder ( there are other categories and norms as well) then in-state fee can be made applicable to you. Mind you in-state fee is almost 30-40% of the normal fee.
By all what I have said it implies that every American or a green card holder should go for a state univ. But it is not so.Why? The answer is that there are more private universities in top bracket than public ones.This does not mean that there are no public universities in the top range.
So you have to see at your end whether you can afford a private or a public univ will do.
If you are a student from India still a public university will be more affordable for you as most of them have lower fees.

2. Next point you should analyze is the program the Univ is offering . Does it's research areas interest you? Do you feel a professor will take you as an assistant or in his group? Try finding this.

3.Now match your credentials with the univs requirements of admission. See what they want also see what were credentials of admitted students. Apply to univs where you are reasonably certain of admissions. You may also try a few top ones as well one never knows when luck strikes.

4.Check with the univs about their past statistics of placements.

5.Lastly see that the univ has conducive environment to your growth.

RECOS FAQ

RECOS FAQ

If you have graduated a few years ago
Though a few years may have passed since you graduated college, you should try contacting your professors.
Professors keep records on students for years, so you might be pleasantly surprised to find a professor or two who can write on your behalf.
Enroll in a class or two so that you have a chance to get to know faculty and they have a chance to get to know you. Excel in those classes and volunteer to help the faculty with their research and you'll be on your way to a great letter.

For those who are working
Ask a supervisor or employer to write on your behalf. A supervisor can write about your work ethic, enthusiasm, maturity, and life experience. The trick is ensuring that your referee understands what graduate admissions committees are looking for in applicants. Provide your referee with all the information he or she needs to write an excellent letter.


Help your Recommender by telling him that RECO should
Include a description of your work-related experiences
Why you wish to attend graduate school
Your skills and abilities
Examples of how your current work demonstrates those skills and abilities.
Ask faculty, administrators, and supervisors who know you well and are in a professional capacity in which they can evaluate your qualifications for graduate study.
Your letter writers should know your work and be able to provide examples to support their points.
They should hold a positive view of you and be able to describe your potential for academic and professional work.
Aim for a set of letters from several individuals who can describe your range of skills.
Letters should cover your academic and scholastic skills, research abilities and experiences, and applied experiences (e.g., co-operative education, internships, related work experience).


Universal Recommendation Form
Most schools will ask your recommenders for the same information. Most will also ask your recommenders to jump through a lot of hoops, filling in grid boxes and writing evaluations.

Because recommenders don't usually have time to do that much work for each of six schools (the minimum you should apply to), it's a good idea to have them write one very comprehensive letter of recommendation that you can use for all of your applications.

The "Universal Letter of Recommendation" form below . The summary of most commonly asked questions is a good starting point for those of you who need to help your recommenders craft a very comprehensive letter that you can use for all of your schools. The schools will accept such a letter in place of the complicated form because they know the form is time consuming.

Use this outline as a rough guide. You don't need to address every issue in it, but try to hit the topics that pertain to you or that show you in the best light. Also, look at the applications and try to determine whether some other questions might play to your strengths. If they do, be sure to include them in the list of questions you submit to your recommender.

Don't worry too much about the structure of the letter, just have your recommender answer the questions. Structure isn't as important as content, so have your recommender focus on providing some insight into your personality and values.

When your recommender has finished the letter, have him address separate copies of it to each school. (Just be sure not to write one school's name at the top and another school's name in the body of the letter.)

Universal Business School Recommendation Form

Name of Person Completing the Recommendation:
Position/Title:
Organization:


In what context and for how long have you known the applicant? Please comment on the frequency of interaction. Please give exact dates. Is this person still employed by your organization?

In your answers, please describe specific activities or accomplishments that demonstrate this candidate's strengths and weaknesses.


1. What are the applicant's principal strengths and special talents? / Provide a short list of adjectives that describe the applicant's strengths.

2. Discuss the applicant's competence in his area of responsibility or specialization (i.e. organizational skills, attention to detail, ability to complete assignments).

3. How does the applicant's performance compare with that of his or her peers? How does he accept constructive criticism? How has the applicant grown during his employment with you?

4. Comment on the applicant's ability to work with others, including superiors, peers and subordinates. Would you enjoy working for the applicant? / Please discuss observations you have made concerning the applicant's leadership abilities and group skills.

5. Comment on the applicant's maturity.

6. How would you describe the applicant's sense of humor?

7. In what ways could the applicant improve professionally? / What aspect of the applicant would you most like to change? / In which areas could the applicant exhibit growth or improvement? Has he worked on these areas?

8. How well has the applicant made use of available opportunities? Consider his initiative, curiosity and motivation.

9. What do you think motivates the candidate's application to the MBA program? Do you feel the applicant is realistic in his professional ambitions? / Has the applicant given careful consideration to his plans for entry into the MBA program? / Please comment on your impression of the applicant's capacity for graduate work.

10. Comment on the applicant's business ethics.

11. What is your overall assessment of the applicant's potential for success as an effective and inspiring upper-level manager?

12. Please provide detailed comments on the applicant's degree of self-confidence.

Feel free to make additional statements concerning the applicant's accomplishments, managerial potential and other personal qualities. / Comments regarding the applicant's aptitude for graduate work and a career in business and management will be especially appreciated.

Don't try to address every issue on the page; instead, pick those that show you in the best light. Start by writing a brief answer to each question. Only after you have good replies should you worry about fitting them together into a coherent letter

Graduate School Personal Statement Secrets

Graduate School Personal Statement Secrets

by Geoffrey Cook, Founder EssayEdge.com

The best way to approach your personal statement for graduate school is to imagine that you have five minutes with someone from the admissions committee. How would you go about making the best case for yourself while holding the listener's interest? What would you include and omit in your story? Figuring out the answer to these questions is critical to successfully preparing an effective statement.

To arrive at these answers, you should begin by asking yourself two specific questions:

* Why have I chosen to attend graduate school this specific field, and why did I choose to apply to this particular school's program?
* What are my qualifications for admission?

The answers will not necessarily come easily to you, but this exercise will have great practical benefit in readying you to write an outstanding personal statement. By answering each question thoroughly, you will have given much thought to yourself, your experiences, and your goals, thereby laying the groundwork for formulating an interesting and persuasive presentation of your own personal story.

As the founder of EssayEdge.com, the Net's largest admissions essay prep company, I have seen firsthand the difference a well-written application essay can make. Through its free online admissions essay help course and 300 Harvard-educated editors, EssayEdge.com helps tens of thousands of student each year improve their essays and gain admission to graduate schools ranging from Harvard to State U.

Having personally edited over 2,000 admissions essays myself for EssayEdge.com, I have written this article to help you avoid the most common essay flaws. If you remember nothing else about this article, remember this: Be Interesting. Be Concise
Read on
http://education.yahoo.com/college/essentials/articles/grad/gradessaysecrets.html;_ylt=AkyZXW0MHm.SOsIHJK.9Z9InmrQF

Graduate scholarship and a graduate assistantship - FAQ

Difference between a graduate scholarship and a graduate assistantship

Graduate Scholarships sometime also called graduate fellowships are "free money".
Small graduate scholarships ( usually $500 to $3000 per year) are available in many schools but will not help you very much financially.
Big graduate scholarships ($20,000 per year or more), while possible, are highly competitive and very limited.
Let's face it, if you are not a sport’s star or a very good academically or if you do not have some talented professional skills or gifted outstanding features, then you probably only have a slim chance to get any Big graduate scholarship, this is especially true for International Graduate Students for most (at least 90%) graduate fellowships are available only to US citizen.

Unlike graduate scholarships, graduate assistantships, open to students of all nationalities, are not "free money", assistantships actually are hard working opportunities.
Usually students work with the professors in the department or other research setting, and receive a stipend (monthly salary) plus partial or full-tuition waiver.
The Big financial supports offered by schools to the majority (95%) of the International Graduate Students are Not graduate scholarships but graduate assistantships.
Big financial support means that the total funding is Big enough to cover at least 80% of school tuition and living costs.

Amount of Money earned through Assistantship

It is hard to say, depends on the school and program. But generally speaking, the total amount of funding ranges from $25,000 to $35,000 per year. The funding will cover most of your school expenses (tuition & living), if not all.

Can one get both a graduate scholarship and a graduate assistantship?

Yes, it is possible. In fact, students often receive the financial aid package, which may be some kind of combination of scholarship, assistantship, free room, ...etc.

Must I have a TOEFL and GRE/GMAT to receive the assistantship?

Depends on the requirements of the program you are applying. In fact, many programs do not need GRE/GMAT at all, as for the TOEFL, it depends on your education background and the instruction language used in your university in your home country. In some schools, a phone interview may be needed to replace the TOEFL score.

How company names were coined.

Origin of Names of Great Companies

Mercedes:

This was actually financier's daughter's name.

Adobe:

This came from the name of the river Adobe Creek that ran behind the
house of founder John Warnock.

Apple Computers:

It was the favourite fruit of founder Steve Jobbs.He was three months
late for filing a name for the business, and he threatened to call his
company Apple Computers if the other colleagues didn't suggest a better
name by 5 0'clock.

CISCO:

It is not an acronym as popuraily believed.Its short for San Francisco.

Compaq:

This name was formed by using COMp, for computer and PAQ to denote a
small integral object.

Corel:

The name was derived from the founder's name Dr. Michael Cowpland. It
stands for COwpland Research Laboratory.

Google:

The name started as a joke boasting about the amount of information the
search-engine would be able to search. It was originally named
'Googol', a word for the number represented by 1 followed by 100 zeros. After
founders - Stanford graduate students Sergey Brin and Larry Page
presented their project to an angel investor; they received a cheque made out
to 'Google'.

Hotmail:

Founder Jack Smith got the idea of accessing e-mail via the web from a
computer anywhere in the world. When Sabeer Bhatia came up with the
business plan for the mail service, he tried all kinds of names ending in
'mail' and finally settled for hotmail as it included the letters
"html" - the programming language used to write web pages. It was initially
referred to as HoTMaiL with selective uppercasing.

Hewlett Packard :

Bill Hewlett and Dave Packard tossed a coin to decide whether the
company they founded would be called Hewlett-Packard or Packard-Hewlett.

Intel:

Bob Noyce and Gordon Moore wanted to name their new company 'Moore
Noyce' but that was already trademarked by a hotel chain so they had to
settle for an acronym of INTegrated ELectronics.

Lotus (Notes) :

Mitch Kapor got the name for his company from 'The Lotus Position' or
'Padmasana'. Kapor used to be a teacher of ranscendental Meditation of
Maharishi Mahesh Yogi.

Microsoft:

Coined by Bill Gates to represent the company that was devoted to
MICROcomputer SOFTware. Originally christened Micro-Soft, the '-' was
removed later on.

Motorola:

Founder Paul Galvin came up with this name when his company started
manufacturing radios for cars. The popular radio company at the time was
called Victrola.

ORACLE:

Larry Ellison and Bob Oats were working on a consulting project for the
CIA (Central Intelligence Agency). The code name for the project was
called Oracle (the CIA saw this as the system to give answers to all
questions or something such). The project was designed to help use the
newly written SQL code by IBM. The project eventually was terminated but
Larry and Bob decided to finish what they started and bring it to the
world. They kept the name Oracle and created the RDBMS engine. Later they
kept the same name for the company.

Sony:

It originated from the Latin word 'sonus' meaning sound, and 'sonny' a
slang used by Americans to refer to a bright youngster.

SUN:

Founded by 4 Stanford University buddies, SUN is the acronym for
Stanford University Network. Andreas Bechtolsheim built a microcomputer;
Vinod Khosla recruited him and Scott McNealy to manufacture computers based
on it, and Bill Joy to develop a UNIX-based OS for the computer.

Apache:

It got its name because its founders got started by applying patches to
code written for NCSA's httpd daemon. The result was 'A PAtCHy'server
-- thus, the name Apache Jakarta (project from Apache): A project
constituted by SUN and Apache to create a web server handling servlets and
JSPs. Jakarta was name of the conference room at SUN where most of the
meetings between SUN and Apache took place.

Tomcat:

The servlet part of the Jakarta project. Tomcat was the code name for
the JSDK 2.1 project inside SUN.

C:

Dennis Ritchie improved on the B programming language and called it
'New B'.He later called it C. Earlier B was created by Ken Thompson as a
revision of the Bon programming language (named after his wife Bonnie).

C++:

Bjarne Stroustrup called his new language 'C with Classes' and then
'new C'. Because of which the original C began to be called 'old C' which
was considered insulting to the C community. At this time Rick Mascitti
suggested the name C++ as a successor to C.

GNU:

A species of African antelope. Founder of the GNU project Richard
Stallman liked the name because of the humor associated with its
pronunciation and was also influenced by the children's song 'The Gnu Song' which
is a song sung by a gnu. Also it fitted into the recursive acronym
culture with 'GNU's Not Unix'.

Java:

Originally called Oak by creator James Gosling, from the tree that
stood outside his window, the programming team had to look for a substitute
as there was no other language with the same name. Java was selected
from a list of suggestions. It came from the name of the coffee that the
programmers drank.

LG:

Combination of two popular Korean brands Lucky and Goldstar.

Linux:

Linus Torvalds originally used the Minix OS on his system which he
replaced by his OS. Hence the working name was Linux (Linus' Minix). He
thought the name to be too egotistical and planned to name it Freax(free +
freak + x).His friend Ari Lemmke encouraged Linus to upload it to a
network so it could be easily downloaded. Ari gave Linus a directory
called linux on his FTP server, as he did not like the name Freax.(Linus'
parents named himafter two-time Nobel Prize winner Linus Pauling) .

Mozilla:

When Marc Andreesen, founder of Netscape, created a browser to replace
Mosaic (also developed by him), it was named Mozilla (Mosaic-Killer,
Godzilla).The marketing guys didn't like the name however and it was
re-christened Netscape Navigator.

Red Hat:

Company founder Marc Ewing was given the Cornell lacrosse team cap
(with red and white stripes) while at college by his grandfather. He lost
it and had to search for it desperately. The manual of the beta version
of Red Hat Linux had an appeal to readers to return his Red Hat if
found by anyone!

SAP:

"Systems, Applications, Products in Data Processing", formed by 4
ex-IBM employees who used to work in the 'Systems/Applications/Projects'
group of IBM.

SCO (UNIX):

From Santa Cruz Operation. The company's office was in Santa Cruz.

UNIX:

When Bell Labs pulled out of MULTICS (MULTiplexed Information and
Computing System), which was originally a joint Bell/GE/MIT project, Ken
Thompson and Dennis Ritchie of Bell Labs wrote a simpler version of the
OS.They needed the OS to run the game Space War which was compiled under
MULTICS.It was called UNICS - UNIplexed operating and Computing System

by Brian Kernighan. It was later shortened to UNIX.

Xerox:

The inventor, Chestor Carlson, named his product trying to say `dry'
(as it was dry copying, markedly different from the then prevailing wet
copying).The Greek root `xer' means dry.

Yahoo!:

The word was invented by Jonathan Swift and used in his book
'Gulliver's Travels'. It represents a person who is repulsive in appearance and
action and is barely human. Yahoo! founders Jerry Yang and David Filo
selected the name because they considered themselves yahoos.

3M:

Minnesota Mining and Manufacturing Company started off by mining the
material corundum used to make sandpaper.

10 myths about career planning

10 myths about career planning

Myth: Career testing is good for me

Fact: No test can provide infallible predictions. Test results can be confounded by many things: cultural differences, unrepresentative samples, and unintentionally biased items etc.

Myth: There is one perfect occupation waiting for me somewhere out there.

Fact: Many occupations have the potential to satisfy your career goals. Once you have more clearly defined what you are looking for in a career, you will find that there are a number of occupations that match these criteria.

Myth: Most people know their major and career goals when they enter college

Fact: Majority of college students change their minds about majors and careers several times before graduation.

Myth: My major leads directly to my career. If I pick the wrong major, I’ll end up in the wrong career

Fact: Most employers care more about your work related experience like part-time jobs, internships etc. and the “real world” skills that you have obtained than they do about your major. One major can lead to many different careers, and one career can be reached through many different majors.

Myth: Arts and Sciences majors are usually unemployable

Fact: Arts and Sciences majors usually have valuable training in areas such as writing, research, and critical thinking. These are called transferable skills; that is, skills that are learned in one area can be transferred to other areas. Arts and Sciences majors are employed in a wide range of careers. However, their job title may not be obviously related to the titles of their academic majors.

Myth: I will only have one career in my lifetime

Fact: Career planning is an ongoing process. You will probably re-address your career plans several times during your life. At this time in history, the typical person entering the work force will have as many as five or six different occupations by the time he or she retires. Many occupations that will be available within your lifetime may not even exist yet

Myth: Most people’s knowledge of occupations is complete

Fact: People’s knowledge of occupations is often incomplete. The media often provides a glamorised and unrealistic picture of occupations. Most of what passes as knowledge is really based upon stereotypes. As you narrow down your occupational options, be sure you are getting a balanced and accurate picture of the occupations you are considering

Myth: I should choose an occupation based on my strongest skills

Fact: It is risky to consider only your skills for a career decision because skills are only one of the components of a full self-evaluation; interests and values are equally as important in the decision making process. Just because you are good at something does not mean that you will enjoy doing that activity for a living.

Myth: The best place for me to start looking for an occupation is where employers are doing lots of hiring right now

Fact: The job market fluctuates constantly. Employment opportunities can change dramatically as a function of economic conditions, advances in technology, and the labour supply.

Myth: I can trust in fate to bring me to the right occupation

Fact: Most people can benefit from a systematic investigation and consideration of different occupations. You won’t just “run into” the occupation that will match your skills, be compatible with your interests, or reward you in terms of your values.

The more information you gather about the occupations you are considering, the more likely it is you will make a wise career decision. It is true that some things are beyond your control, but you have an active role to play in determining your own fate

A checklist for US student visa interviews

A checklist for US student visa interviews

Dr Arun C Vakil | June 15, 2005

Here is a checklist by United States Visa & Immigrant Consultant Dr Arun C Vakil to increase your probability of getting a student visa at the first attempt and avoid rejection.

Visit a US Visa Application Centre with the following:

1. A passport valid for minimum six months beyond the visit.

2. Two photocopies of the first page and one photocopy of the last page of your passport. A copy of the passport pages containing observations or remarks.

3. A fully completed and signed visa application form. Each applicant aged 14 or above must sign his/ her own application form.

4. A 2 x 2-inch photograph which is not more than six months old. If you do not send your photo according to the required specification, your application will be considered incomplete.

The Application Centre will retain your original visa application form and return your passport.

Here are some steps you can take:

i. Please schedule your visa appointment after paying the fees.

ii. Fill the visa application forms DS-156, 157 (if applicable) and 158 very carefully. Each question box should be answered in complete details. No vague replies please.

iii. Arrange your papers in a file with each paper in separate plastic folder with a sticker or post-it indicating what paper it is for easy retrieval.

iv. Practise managing the file with one hand. Your hand will be occupied holding the telephone receiver from which you may have to speak with the Visa Officer.

The order of papers recommended:

* Appointment notice along with receipt of fees paid
* I-901 form indicating SEVIS fee paid
* Passport in original
* I-20 SEVIS approved form
* Letter of admission from US university
* Entrance test scores (whatever applicable)
* Latest marksheets/ degree certificate obtained in India
* Statement of future plan in India
* Financial statement of self and family showing all assets
* Evidence of income-tax paid over the last three years
* Bank transactions of your family over the last three years (passbook, not statement)
* Form I-134, if your US sponsor is involved with his/ her financial papers
* Letter from the Indian company if willing to give you job on your return
* Evidence of certificate of marriage, if applicable
* Evidence of certificates of birth of children, if applicable

The above documents are recommended (not suggested by US Immigration Laws) based on individual cases.

They must be shown only if asked during your visa interview. The objective of this important exercise is to overcome the presumption that you are an intending immigrant to America under Section 214 (B), and prove that you will come back after your studies, based on your financial and social ties and family circumstance.

While speaking with the visa officer

Speak with confidence.

Be honest.

Be to the point.

Smile.

Be well-groomed.

Engineering Experience: Learning outside the Classroom

Engineering Experience: Learning outside the Classroom

http://www.toeflaccess.com/articles/ETS/archive/us/study/engineering_outside.html

by Sarah Spears

As an engineering major at a U.S. college or university, you may have the chance to gain real-world work experience (and get paid for it) while completing your degree.

Most engineering programs in the United States offer a program called co-op, which allows you to spend several months working for a business in your field of study. For some schools co-op is a requirement to graduate with an engineering degree, which can extend the amount of time it takes to earn the degree.

While the U.S. government places restrictions on when and where international students can work, co-op programs fall under the approved category of Curricular Practical Training. “Students who are on F-1 visas may still participate in co-op programs and semester internships,” says Jeff Beavers, assistant dean and director of Engineering Career Services at the University of Illinois at Urbana-Champaign, “as long as they maintain their full-time student status at the institution at which they are enrolled and as long as the experience relates to their degree program.” The staff at UIUC has plenty of experience in dealing with issues like this; the university enrolled 5,560 international students in the 2004–2005 academic year, according to the Institute of International Education's Open Doors report.

Co-op jobs usually last the length of an academic term (either semester or quarter), and engineering students may complete several co-op terms, either with the same company or with several different organizations. At some schools, such as the University of Cincinnati (which is recognized as the creator of co-op, starting its program in 1906), engineering students spend 40 percent of their time as an undergraduate working in a co-op position. This time on the job allows students to apply what they have learned in class to practical daily problems and projects.

At UIUC, participation in the co-op program is optional, but encouraged. “Within just the past year, our engineering and computer science co-op students have been involved in many large-scale projects, including such assignments as designing a new shock-absorbing tennis racquet for a major sporting goods company…and testing the design and function of a new high-performance automobile for a large U.S. auto manufacturer,” says Beavers.

If co-op is available at your chosen school, take advantage of the opportunity. You'll be able to hone your technical skills while learning basic on-the-job skills such as teamwork, organization, and working under deadlines. You will also meet real working engineers, people who can teach you now and who may be able to help you find a job after you graduate.

Admission Application Checklist

Admission Application Checklist

When applying to a University, you need to include certain items as part of your application package. Each college has its own set of requirements, but the checklist given below should satisfy the needs of most colleges.

1. Application FEE

A banker’s draft (US dollars) should be prepared for the required application fee in favor of the University. The fee may also be paid by a credit card for online applications.

2. Application Form:
Use the right application. International students are required to use a different application or they are asked to provide additional information then asked in the normal forms. If you are using a hard copy of the application the address where you are to send the documents shall be mentioned there.
If you are applying online then you need not send a hard copy of the application. However, when you submit the online application you will get an acknowledgement with your student ID. When sending the documents include a copy of this receipt. Mark all your documents with the student ID. The acknowledgement shall also tell you the address where your documents are to be sent.
Do keep in mind that some universities accept only online applications. Others offer some incentive in the form of lower application fee for applying online. The third category says it makes no difference whether you apply online or send a paper application.In all these cases you have to send the documents by mail only. So whether you apply online or use paper application you will have to incur the postage/courier charges.

3. Program Application:
Ascertain whether the program of your choice requires any special application and if it is asked send this separately to the department. This envelope should also carry any additional material asked by the program. You should check the department’s address from the web site of the university.

3. Official Transcripts of Undergraduate Coursework :
Prepare transcripts of all undergraduate coursework completed at the time of applying to the US, and have all copies sealed and stamped by your undergraduate university to make them 'official'.

4. Three Letters of Recommendation:
Get recommendation letters from Professors who are familiar with your undergraduate academic work. Many Univ’s also ask you to include a 'Student Evaluation Form' along with your recommendation letters. Learn how to write a good recommendation letter by following the tips given in the messages of the group.

5. Personal Statement of Purpose (SOP):
Your mark-sheets & score reports speak for themselves, therefore a 'Personal Statement of Purpose' is the only means you have to communicate to the admissions officer why you deserve to be admitted to their University. Go through the Personal Statement section for detailed information.

6. Financial Certificate:
At the time of applying, you need to indicate sufficient funds to support your education. Request your bank to issue a certificate as proof of the same.

7. Letter of Support:
If a relative or friend is sponsoring your education, then you have to include a signed letter of support from them, indicating their willingness to fund your study in the US.

8. Copy of GRE & TOEFL score reports:
You can include a copy of your GRE & TOEFL score reports, but you should also make sure that you ask ETS to send your scores directly to the Universities you are applying to.

9. Additional Certificates:
Most colleges don't value certificates for extra curricular activities unless they are directly related to your chosen field of study. But, if you have work experience or have completed projects in your intended field of study, you should definitely include a letter/certificate from your employer or supervisor.

10.Copy of relevant pages of your Passport
Sometimes the name given in your passport is different from the name mentioned in your certificates. Send a copy of your passport as it is desirable that the I-20 and your passport should carry the same name.

11. Additional helpful papers.
If you have done any research or published some papers give details on a separate paper.