Question regarding # of clients mentioned in webinar.

[MRharris14]

In your webinar tonight you mentioned that your consultants are full time, yet you also stated that they are only working with 5-6 clients each cycle. I would assume the typical package would be 3-4 schools so it would bring in maybe $5K each for the consultants. If the consultants are only doing 5-6 then they are making about $30K. I will assume that they take 5-6 clients each round and that stratus takes very little off the top, but that is still only around $90K and I find it hard to believe round 3 would have that many clients. Why would a top 5 grad who could easily make well over $100K take a job like this which doesn't appear to pay that well and wouldn't offer too much growth? Unless these are just bottom of the barrel grads there must be something else I am missing, and even if they also tutor or do other things this still just doesn't seem to add up to me.
I am not trying to be rude but I feel it is quite important to me to truly know how many clients my consultants would be working with. Will you please elaborate on this for me?

[Shawn@StratusPrep]

MRHarris14,

Thanks so much for your post. I am happy to reply to your questions.

As I mentioned during the webinar, each Stratus Prep MBA Admissions Counselor typically works with ~5 applicants in each round, and for all of our MBA Admissions Counselors, Stratus Prep is their main source of income.

While "moonlighting (holding another job and counseling on the side)" may be commonplace with other firms in the industry, at Stratus Prep, we simply do not believe that it is ethical to hire MBA Admissions Counselors who have other full-time jobs. After all, how can you be sure that you are getting 110% from your counselor if they are reading your essays after a long day of work at a major corporation, consulting firm, or investment bank.

In order to provide the exceptional customer service that we believe each of our clients deserves, we also cannot have counselors over-burdened with too many clients. Thus, we strictly limit the number of clients and applications that each of our counselors are working on during each round. In fact, as we have some clients who work with us on 8-10 schools (if their profiles are extremely weak or they are hoping to secure a free ride with our help to a top 5 or top 10 school), some Stratus Prep MBA Counselors work on fewer than 5 applications per admissions round (since a 10 school package is equivalent to two typical applicants).

While we do not discuss the specifics of our counselor compensation, I can assure you that our MBA Admissions Counselors are very well compensated for their work and value the fact that we give them the freedom to give each of their clients the attention that client needs and deserves. A testament to our MBA Admissions Counselors' satisfaction is that all of our Admissions Counselors have worked with us for at least 2 years and over 90% of all the Admissions Counselors we have hired still work with the firm. If they were not happy with their compensation or were struggling financially they would not remain with us, obviously.

Finally, while money is a major motivator in individuals' career choices, it is important to note that this is not the only driver in why people choose to work with an MBA Admissions Counseling firm. When I interview MBA Admissions Counselors, I look for individuals who share my commitment to the mantra that led me to start Stratus Prep in the first place, "my goal in life is to help others reach their goal in life." Sure many of us could make more at hedge funds or large consulting firms, but the satisfaction that comes from helping individuals into the MBA program of their dreams is truly priceless. Our MBA Admissions Counselors, who have all graduated from top 5 MBA programs (many with honors) and worked with leading firms such as McKinsey, Bain, Proctor & Gamble, etc. value this opportunity to make such an impact at this point in their careers. They also treasure the chance we provide them to have the freedom to pursue other projects during the off season such as writing books, consulting to start ups, or spending more time with their families.

I hope that this answers your questions. I would be more than happy to speak with you further about Stratus Prep's services if you would like.

Best,
Shawn