What It’s Like to Study at HBS: Student Q&A

Keima Ueno is currently first-year student at Harvard Business School (HBS). After starting his career at Morgan Stanley in M&A advisory and witnessing the financial crisis that dominated the news agenda at the end of the last decade firsthand, he transitioned to management consultancy and the Boston Consulting Group.

Where do you go after a career like that? Why, HBS, naturally. His long-term plan for his post MBA career is to launch a healthcare startup.

He writes regularly about his experiences on his blog, Two Years at HBS, covering the experience of studying at the world’s best known business school as well as the lessons he learned from working in the often cutthroat worlds of finance and consultancy.

He shares his experiences – including that all-important question, how do you get into HBS – below…

You started your career at Morgan Stanley – what was it that drew you into the world of financial services/M&A advisory?

I envisioned running my own company when I was a college student. I learned, after talking with various entrepreneurs and company managers, that the most important pillars of management were ‘finance’ and ‘strategy’, and that investment banks like Morgan Stanley and consulting firms were the best places to nurture these capabilities. After a lot of indecision and soul-searching, I decided to do both, and chose investment banking as the first stop on my career path.

You were right on the frontline when Lehman Brothers folded – do you think there were lessons to be learned or was the whole crash an exaggerated version of a natural cycle?

There were hard lessons learned by millions of stakeholders: investment banks, rating agencies, investors, companies, governments and individuals. Looking back, in my opinion, the most important was the simple fact that value creation beats value claiming. After the crisis, genuine value creating organizations made a quick comeback, while value claiming organizations evaporated. The crisis drove home this salient fact and strengthened my resolve to create a value creating company.

What made you decide to transition to management consulting? Is this a transition you were glad you made?

As previously mentioned, this was my original plan. After acquiring basic capabilities in corporate finance, I still felt a need to learn about strategy to better facilitate running my own company. And it was the right choice. The skills acquirable at investment banks and consulting firms were totally complementary, the former focusing on hard (quantitative) skills and the latter on soft (interpersonal) skills.

What lessons do you feel you learned from working for high profile companies in these competitive sectors?

The company name and brand do not matter - people do. The biggest advantage of working for top tier firms is that you can work with amazingly smart and interesting colleagues.  You can acquire various skills as a professional, but the network of top-notch people is the longest-lasting asset. Long after you have left the company, you can rely on them to always be there – especially after standing shoulder to shoulder with them ‘in battle’.

A downside - people may judge you by your company name. ‘Normal’ people usually don’t know much about investment banking or consulting. Only knowing your company’s name, there may be a tendency to equate you to your company, thinking, oh, this person must be despicable…

Why did you decide that it was time to do an MBA?

It was always my original plan. Although investment banking and the consulting business gave me the best environment to hone my skills in finance and strategy, I felt it was not a sufficient background to enable me to be a global leader who makes a difference in the world. I still felt a need to learn other fields of general management - marketing, technology and entrepreneurship, as well as improve my leadership skills. HBS seemed to me the best place to achieve this goal.

Were you confident that you could get into HBS?

Of course I wasn’t. There was no assurance that I could get into HBS. It was enough competitive to make me look for a backup plan. I had interviews with several private equity firms and was lucky enough to get offers. If I didn’t get into HBS that year, I would have worked for a private equity firm for a year and reapplied to HBS next year.

Obviously, you need to do something to standout during the admissions process – so how can you really impress HBS? 

HBS’s mission is to educate leaders who make a difference in the world, and they are really looking for such people. What applicants need to do is to show their aspiration, potential, and track records which demonstrate that you are such a leader. And the specific way is highly dependent on each applicant’s background and will.  Even if you have brilliant academic background and work experience, you may be rejected if you fail to demonstrate your fit to HBS’s mission.

What has surprised you about the HBS program so far? What have been the most interesting lessons? And what have been the biggest challenges?

What surprise me always are my 94 section mates. They are amazingly diverse, intelligent and interesting. They always throw out different viewpoints and creative ideas to the class discussion, and I always get excited to join the discussion. We spend the intensive first year with the same section mates and share good and bad times. This is one of the best aspects of HBS.

The most challenging aspect is time management. In addition to classes, we are always surrounded by millions of opportunities, such as recruiting events, social events, industry conferences and club activities, and it’s totally up to us how to allocate our limited time. Time management skills are essential to maximize learning at HBS.

You’re planning to launch a healthcare startup after graduating – can you tell us a little about that?

I have a family business background and my family is running a healthcare company. That’s why I am planning to start up my own business in healthcare industry. HBS has amazing resources which help me to realize the blueprint. For example, some faculty members have great network and experience in healthcare industry. Not only they share their own experiences, but they also introduce me to the industry’s key persons. HBS also provides us alumni database and we can contact them personally. Even though they are extremely busy, they always share their time for me helping refine my business plan. Also there are some healthcare specialists in my section, and we often discuss our business ideas giving feedback each other. I have very limited time, but am steadily developing my blueprint.

What advice would you give to other candidates looking to study at HBS?

• Don’t be overconfident. Anyone can be rejected
• Visit campus as long as your schedule allows
• Don’t be overly concerned about your GMAT score
• Review your essays a hundred times
• Be prepared for interview. You cannot be over prepared
• If you failed, reapply next year without hesitation