Ah, the dreaded wait-list. When business school applicants get the notice they’ve been wait-listed, it can seem worse than a rejection – purgatory with no clear direction out. The Wall Street Journal published an interesting interview with Dawna Clarke, admissions director for Dartmouth College’s Tuck School of Business, about what it takes to make the cut and what wait-listing means.
The school takes the time to give most applicants feedback – suggesting ways wait-listers can up their chances of acceptance, and letting those denied know if they stand any chance of ever getting in the doors.
Clarke said that recommendations from people who know the applicant well and can provide powerful anecdotes are memorable, and that resumes featuring frequent job changes can be good if the person moved up in an organization. “It’s very important for people to explain their transitions,” she told the Journal.
The school admits between 450 and 500 students – or 17 percent to 20 percent of applicants. Of those, about 270 ultimately enroll – though that number varies wildly, as one year just 60 students enrolled. Clarke said that applications were down 7 percent this year, compared with a 7.5 percent climb last year.
HSBC will sell its Japanese private banking unit to Credit Suisse. [WSJ]
Japan’s Tokio Marine will buy the American insurer Delphi Financial for $2.7 billion. [NY Times]
Credit Suisse is in talks to buy a 15 percent in Vietnam’s Sacombank. [Bloomberg]
Investment Bank Greenhill lost managing directors Jeffrey Buckalew and Rakesh Chawla in a plane crash. [DealBook]
The TMX Group, owner of the Toronto Stock Exchange, bought a 16 percent stake in the Bermuda Stock Exchange. [DealBook]
Wells Fargo has signed a deal to acquire investment boutique EverKey Global Partners. [On Wall Street]
The annual salary for investment banking and fund management staff in Hong Kong have increased by 15 percent. [Hedge Fund Net]
Australian private equity firm Archer Capital raised a $1.5 billion fund. [Businessweek]
India’s financial sector suffers at the hands of a depressed Bombay Stock Exchange. [NY Times]