Archive for the ‘MBAs’ Category

Amazon is cornering another market … MBAs.

October 9, 2017

“Flooding the zone” to land the best & brightest.

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Now that Amazon has staked out territory the grocery business, it’s time for them to move on to another front.

According to the WSJ: “Another Thing Amazon Is Disrupting: Business-School Recruiting”

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Let’s put that in perspective:

In the past year, Amazon has hired some 1,000 newly minted M.B.A.s in the past year

Amazon is now the top MBA recruiter at Carnegie Mellon, Duke and Cal-Berkeley.

It hires the most first-year M.B.A.s at Michigan, MIT, Dartmouth College and Duke.

Last year, Amazon took in more interns from the University of Chicago than either Bain or McKinsey & Co., which were until recently the school’s top hirers of interns.

 

How do they do it?

(more…)

Ouch: 2016 MBA Rankings

November 16, 2016

MSB down 8 slots to #34

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Here are the top 10 … and MSB … with ranking details.

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#HomaFiles

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How many MBA degrees are awarded each year?

February 22, 2016

Answer: Around 200,000

The numbers  skyrocketed from the 1970s to about 2005.

The growth rate slowed a bit until 2010.

Since then, the pace has picked up again.

Since 1970, over 2 million MBAs have been conferred..

 

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Source: ”Digest of Education Statistics”

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$$$: How much do MBA interns get paid?

November 16, 2015

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

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$$$: How much do MBA interns get paid?

April 29, 2015

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

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Follow on Twitter @KenHoma            >> Latest Posts

Bias: How you do depends on who interviewed before you …

January 30, 2015

According to the HBR Daily Stat …

MBA applicants may be at a disadvantage if they interview on a day when several others have already received positive evaluations

Specifically, the 4th Great MBA applicant interviewed on a given day Is less likely to get a high interview score

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Study results and what to do about them …

(more…)

$$$: How much do MBA interns get paid?

January 19, 2015

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

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Follow on Twitter @KenHoma            >> Latest Posts

MBA: Career-switching is back in fashion …

October 20, 2014

According to Business Week: “More MBA grads are switching careers as the job market improves.”

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Here are the details …

(more…)

$$$: How much do MBA interns get paid?

May 1, 2014

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

image

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Follow on Twitter @KenHoma            >> Latest Posts

How many MBA degrees are awarded each year?

April 30, 2014

Answer: Around 200,000

The numbers  skyrocketed from the 1970s to about 2005.

The growth rate slowed a bit until 2010.

Since then, the pace has picked up again.

Since 1970, over 2 million MBAs have been conferred..

 

image
Source: ”Digest of Education Statistics”

#HomaFiles

Follow on Twitter @KenHoma                 >> Latest Posts

$$$: How much do MBA interns get paid?

February 26, 2014

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

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Follow on Twitter @KenHoma            >> Latest Posts

MBA: Career-switching is back in fashion …

February 25, 2014

According to Business Week: “More MBA grads are switching careers as the job market improves.”

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Here are the details …

(more…)

MBA Pay: European & Asian schools catch the U.S. …

February 17, 2014

According to research reported in BusinessWeek

MBA grads pay at business schools in Europe and Asia increased dramatically in the past couple of years.

Adjusted for local purchasing power, European and Asian MBAs have essentially caught up to U.S. MBAs.

To avoid distortions between countries, the pay levels are stated in “international dollars” that have been adjusted for purchasing power parity.

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The researchers attributed the pay growth in Europe to the growing demand for MBAs in Europe and the geographic proximity of highly ranked European programs to the key labor markets they serve.

Why has MBA pay in the U.S. apparently stalled?

(more…)

Bias: How you do depends on who interviewed before you …

February 13, 2014

According to the HBR Daily Stat …

MBA applicants may be at a disadvantage if they interview on a day when several others have already received positive evaluations

Specifically, the 4th Great MBA applicant interviewed on a given day Is less likely to get a high interview score

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Study results and what to do about them …

(more…)

MBA: You get what you pay for (at least at MSB) …

July 29, 2013

Couple of weeks ago, we posted that Business Insider ranked the MSB MBA program #14.

In a follow-up, Business Insider ranked the “most expensive” MBA program.

Most expensive: NYU Stern,

 

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MSB’s ranking …

(more…)

Hot: MSB MBA ranked #14

July 17, 2013

It may not have the tradition and cachet of the the Business Week or US News rankings, but …

Business insider has ranked Georgetown’s McDonough School of Business MBA program #14 in the world.

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click to see the complete Business Insider rankings

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Follow on Twitter @KenHoma              >> Latest Posts

Rapid response: “Thunderbird is alive and well”

July 3, 2013

Yesterday we posted Thunderbird on the rocks? …. citing an Economist article that reported sharply declining enrollments in Thunderbird’s MBA program.

 

 

We received a polite reply from Thunderbird’s Associate VP of Admissions and Student Affairs:

There were some incorrect statements made in the recent Economist article. 

It is true that we are spinning off a few of our more Executive Education areas into a joint venture, but Thunderbird stands much as it always had.

In fact, the numbers quoted are not represented correctly either as our student body has changed significantly

In the past years, Thunderbird, like many other great schools, has opened online MBA programs, Masters Programs (Finance, Marketing, etc.), and Executive programs both on campus and abroad. 

The actual student body size of Thunderbird is still very similar to what it was 10 years back

I just wanted to make sure that our friends at Georgetown know Thunderbird is alive and well – though the unfortunate recipient of mal-interpreted data from  the media.

Couple of points:

1) Nice to hear that T’bird is, in fact, alive and well … and innovating

2) Hats off to T’bird for their rapid response program … a lesson re: how to handle bad PR

3) Proud to welcome T’bird’s administration to the ranks of HomaFiles readers … now, follow us on Twitter

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Follow on Twitter @KenHoma           >> Latest Posts

Ouch: Columbia b-school prof blasts academic research …

May 3, 2013

The blog InDecision posted the “presidential address” given at the conference of the Society for Consumer Psychology by Columbia Professor Michel Tuan Pham.

In his preamble, he bluntly questioned both the “external and internal relevance” of the research that he and his colleagues publish.

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First, his perspective on external relevance … 

(more…)

Tsunami Alert: NYU b-school prof blasts high MBA tuitions …

April 26, 2013

In a Financial Times article,  NYU Stern School of Business professor Larry Zicklin, says the days when getting an MBA costs well north of $100,000 are coming to an end.

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Zicklin argues that  …  b-schools face an existential threat … and that they aren’t aware of the tsunami that’s about to hit them.

The era of charging $100,000 for an education is over.

Here’s why …

(more…)

MBA: Career-switching is back in fashion …

April 23, 2013

According to Business Week: “More MBA grads are switching careers as the job market improves.”

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Here are the details …

(more…)

$$$: How much do MBA interns get paid?

April 22, 2013

According to Business Week, top school MBAs haul in an average of about $1,750 per week for their summer internships.

At HBS, the median is $7,000 per month … that’s about $1,650 per week … which annualizes to about $90k.

Of course, there’s wide variation based on the school and the industry.

Note that Kellogg –- a general management and marketing school – tops the list

image

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Follow on Twitter @KenHoma            >> Latest Posts

Watch out HBS, Perdue University is pecking at your heels.

March 20, 2013

Nope, not a typo.

It’s Perdue as in chickens, not Purdue as Boilermakers.

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Who says so?

None other than HBS Prof. Clay Christensen — the father of the idea of disruptive innovation.

(more…)

MBA Pay: European & Asian schools catch the U.S. …

February 21, 2013

According to research reported in BusinessWeek

MBA grads pay at business schools in Europe and Asia increased dramatically in the past couple of years.

Adjusted for local purchasing power, European and Asian MBAs have essentially caught up to U.S. MBAs.

To avoid distortions between countries, the pay levels are stated in “international dollars” that have been adjusted for purchasing power parity.

image

The researchers attributed the pay growth in Europe to the growing demand for MBAs in Europe and the geographic proximity of highly ranked European programs to the key labor markets they serve.

Why has MBA pay in the U.S. apparently stalled?

(more…)

Bias: How you do depends on who interviewed before you …

January 29, 2013

According to the HBR Daily Stat …

MBA applicants may be at a disadvantage if they interview on a day when several others have already received positive evaluations

Specifically, the 4th Great MBA applicant interviewed on a given day Is less likely to get a high interview score

 

image

Study results and what to do about them …

(more…)

$$$: How much do MBAs make right out of school?

January 28, 2013

Answer: It depends on a person’s “major” (i.e. finance folks tend to make more), their background before MBA school, and the b-school they attend.

According to NerdWallet, the average MBA student will earn $113,730 straight out of graduation, which includes a signing bonus of $18,764.

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Stanford University leads with an average total compensation of $146,677.

Check out Nerdwallet’s Top 20 List … and rejoice, MSB is on it !

(more…)

WSJ: “Smaller Paycheck Awaits M.B.A.s”

January 7, 2013

Don’t fret, MSBers.

Today’s WSJ article — which quotes MSB prof Brooks Holtom (below) — portrays a dismal ROI picture for the typical MBA … but points out that the economic crunch is not as severe for prestigious school grads (think, MSB).

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Debt-to-compensation ratio

First the numbers.

The WSJ tracked the average comp levels of young MBAs and matched it against their school debt loads.

The conclusion: an average young MBA has carries a school debt roughly equal to 1-years gross compensation … call it about 2 years of after-tax comp.

Note that the gross comp to student debt ratio was about 4-to-1 in 2001 … during the dotcom land rush.

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So, what’s going on?

(more…)

Uh-oh: Do female MBAs get paid the same as male counterparts?

December 30, 2012

Answer: The pay gap among graduates of elite business schools is widening, according to new research from Bloomberg Businessweek’s biennial survey of MBA graduates.

Female grads of top MBA programs command only 93 percent of the starting pay of their male classmates. The gap gets bigger as years go by.

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Here are some specific findings …

(more…)

B-School students get some satisfaction … at some schools.

November 19, 2012

Punch line: Business week releases results on which B-Schools have the most and least satisfied students.

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Excerpted from businessweek’s, “Can’t Get No Satisfaction: The B-School Happiness Index”

Which business schools have the most satisfied students?

That question will in large part determine which schools make it to the top of the list and which are consigned to rankings oblivion.

Student satisfaction counts for 45 percent of the final ranking, while recruiter surveys contribute an additional 45 percent and a review of faculty research adds the final 10 percent.

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It’s worth noting how closely student satisfaction tracked with teaching quality and career services this year.

Four of the five schools with the most satisfied students were on our lists of schools with the most highly-rated teachers and career services.

Three of the five programs with the least-satisfied students were on our list of schools with the most poorly rated career services.

Don’t look for the highly ranked MBA programs at Harvard, Wharton, and Stanford to top the list of schools with the most satisfied students.

As a rule, students come to such programs with super-high expectations and, in our surveys, are generally reluctant to give them the highest marks.

But the elite programs get their revenge in other ways: Recruiters love them.

Edit by BJP
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MSB back in Business Week’s Top 30 …

November 18, 2012

This year’s BusinessWeek MBA rankings are out.

Here are the punch lines  …

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Usual suspects in the top 10

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Good news: MSB bounced back into the top 30
… moved from #33 in 2010 to #30 in 2012

Big improvement in student survey scores …

Big deal since below 30 often slotted “all other”

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Offset: Regional competitor Maryland bounced from #42 to #24

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WSJ: M.B.A.s Rethink Wall Street

October 31, 2012

According to the WSJ

Repeated cutbacks have dulled Wall Street’s luster for some prospective Masters of the Universe, in the latest reflection of the gloom overhanging the finance industry.

A Wall Street gig “isn’t as prestigious as it used to be” because the future—promotion opportunities, salary gains, even basic job security— is so unclear.

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“Students’ interest and appetite has become much, much more diverse” over the past decade, says Julie Morton, associate dean of career services and corporate relations at University of Chicago Booth School of Business.

Students are increasingly lured by start-ups and stable jobs at consumer-products firms and industrial conglomerates.

>> Latest Posts

Where do MBA’s want to work?

October 1, 2012

Punch line: Google, KPMG, P&G, Microsoft and Deloitte top the list of MBA’s most sought after jobs.

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Excerpted from businessweek.com’s “Hot Jobs, Google, KPMG, P&G, Top 2012 Rankings”

The world’s college business students have spoken: The single, most coveted job in the world isn’t with some big-name consulting firm or high-flying investment bank.

For the fourth consecutive year, it’s with Google, whose incomparable perks and startup-like culture have catapulted the search giant to a seemingly permanent place atop Universum‘s annual list of the most highly desired employers.

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Top 10 Desired Employers for MBA Students:

  1. Google
  2. KPMG
  3. Procter & Gamble
  4. Microsoft
  5. Deloitte
  6. Ernst & Young
  7. Pricewaterhouse Cooper
  8. JPMorgan Chase
  9. Coca-Cola
  10. Goldman Sachs

What separates the winners from the losers is innovative products and services, a relaxed and creative work environment, global opportunities, benefits and perks, and the ability to advance one’s career and personal brand by working for a company.

Millennials are interested in the ‘me brand,’ and they are more concerned about their employ-ability.  They want a company with a good reputation. They want to say they work for a ‘cool’ company.  Each of the companies at the top of the list has different characteristics that make it cool.

Whole industries can benefit from the perception that that they can serve to advance careers, which is what seems to have happened with management consulting.  Consulting as a career is really interesting for people leaving college to develop a set of skills that are transferable to different industries. 

Nowadays, the hunt for talent revolves around understanding the unique needs of millennials.  At P&G, the company tries to give new college graduates a chance to try on different hats.  To increase brand awareness among young people, P&G has undertaken targeted marketing efforts such as the “Thanks, Mom” ad campaign, which aired during the 2012 Summer Olympics.  Microsoft, the other company on the rise with job hunters, hires several thousand undergraduates from around the world each year. Mostly discovered through the internship pipeline and on-campus recruiting, these young people are drawn to the company’s willingness to give them real responsibility from the start.

Edit by BJP

>> Latest Posts

MBA applicants declining … more $$$ for top students and minorities.

September 14, 2012

Punch line: Top US business schools are reporting single and double digit applicant decline, making admission easier for candidates.  After years of applicant increases, admissions offices explain the trend by tough competition – with cheaper and more convenient programs, and ramped up efforts from 2nd tier schools. 

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Excerpted from businessweek.com’s, “At Top Business Schools, an MBA Application Drought.”

In the last few weeks, a handful of top business schools have reported single-digit, and in some cases double-digit, declines in applications for their full-time MBA classes, including most recently Columbia Business School and New York University’s Stern School of Business.

Full-time MBA applications have sunk at at least a dozen of the top 30 B-schools.

Among the schools that have reported declines are the University of Chicago’s Booth School of Business, the Yale School of Management and Duke University’s Fuqua School of Business (down 3.5 percent, 9.5 percent, and 7 percent, respectively).

A handful of schools reported even steeper drops, including Michigan State University’s Broad College of Business, where applications fell 18 percent, and Indiana University’s Kelley School of Business, with a significant dip of nearly 21 percent.

The decline in applications is attributed to increased competition from rival business schools and a plethora of available choices, including part-time and online programs.

Second-tier schools are working more aggressively to recruit top MBA candidates and entice them with hefty financial aid packages.  “…employer sponsorship for full-time MBA programs is almost nonexistent, and doing an MBA part-time or online can be an attractive offer for some students, especially when there is funding available.

With a smaller pool of MBA applicants, getting an offer to a top business school has become slightly easier … To meet their target enrollment for this year’s incoming MBA class, schools had to work harder to ensure admitted students accepted their offers. For many of those schools, that extra push paid off. Yield was up at nine of the 13 schools on which information was available.

This year, competition was especially stiff for women, underrepresented minorities, and students from nontraditional work backgrounds, says Liz Riley Hargrove at Fuqua. “It was just a really competitive environment, and I think it impacted everybody’s yield this year,” she says.

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>> Latest Posts

Rent an unemployed MBA …

June 21, 2012

Punch line: A UK online service matches budget conscience companies with eager-to-work MBA’s, creating an innovative solution to the economic challenges that companies and MBA’s are facing.

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Excerpted from WSJ, “Short on Staff? Rent and MBA”

For just a few hundred dollars a day, you can rent an M.B.A.

Appealing to companies keeping a close eye on staff costs, online service MBAandCo.com allows firms to retain business-school graduates … to work on consulting gigs with minimal outlay and no long-term commitment.

Given the tight job market in Europe (and much of the rest of the world), the three-year-old website now boasts more than 10,000 members, all of whom have at least five years of professional experience and an advanced degree. The freelancers themselves must have graduated from a top-100 business school, as ranked by the Financial Times. Past clients have included Virgin Media, Stolichnaya Vodka and Ogilvy & Mather, as well as small venture capital-backed firms, the company says.

Workers are attracted by the promise of a flexible schedule and the opportunity to trade in days filled with meetings in favor of hands-on work. When the alternative may be no employment at all, it looks like a particularly good deal.

The company uses preferences and an algorithm to determine who might be most compatible, offering clients a shortlist of potential freelancers. Costs vary by experience and academic pedigree.

Would you consider “renting” an M.B.A. to work on projects? If you are an M.B.A. is this something you’d consider?

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>> Latest Posts

Innovation is hot … especially in b-school mission statements.

May 31, 2012

The WSJ reports that:

An analysis by the Association to Advance Collegiate Schools of Business, an accrediting body, involving 733 member schools, found that 28% include the words “innovate,” “innovation” or “innovative” in their school mission statements.

Most use the terms to describe their own curricula.

Business schools have added research centers, classes and even full-fledged majors in innovation.

But some think the schools may be missing the mark, focusing too heavily on ideation and brainstorming while skimping on the practical aspects of turning ideas into concrete strategy and action.

“Innovation requires taking the great idea and doing something with it.”

So where does it all lead?

As schools race to add innovation to their offerings, they’re also trying to differentiate themselves from one another.

The goal at the Haas School of Business at Berkeley,  is to create managers who can foster innovation or oversee innovative organizations, not just come up with innovative ideas.

“It’s not about producing home-run hitters.”

>> Latest Posts

MBA Rankings: A loser’s uh-oh upsets conventional wisdom …

March 28, 2012

In a prior post, we looked at changes in Business Week’s rankings of MBA program in the 10-year period from from 2000 to 2010.

The key observations:

  • 13 MBA programs (e.g. HBS, Wharton, Kellogg) held their top 30 positions – plus or minus a spot or two – between 2000 and 2010
  • 6 MBA programs were in the 2000 Top 30 and improved their position by 6 or more spots between 2000 and 2010
  • University of Chicago  jumped 9 spots to take over the #1 ranking
  • 6 MBA programs that weren’t in the Top 30 in 2000 broke into the 2010 Top 10
  • 5 MBA programs dropped a whopping 15 places or more from 2000 to 2010 (more on that later, too)
  • Another 6 MBA programs dropped 5 spots or between 2000 to 2010

Also in a prior post, we observed that among the 6 MBA programs that weren’t in the Top 30 in 2000 and broke into the 2010 Top 10, SMU is the shining star.

SMU came out of nowhere – unranked as late as 2006 – and soared to #12 in 2010.

They did it with A+ Teaching and A+ Career Services … that earned them a #6 ranking with Corporate Recruiters and a #12 ranking overall.overall.

While SMU’s formula reflects mucho common sense, it’s not exactly conventional approach.

More often, MBA programs try to boost their rankings through intensified faculty research.

The logic: publish in academic journals, get recognized as thought-leaders, attract better students and recruiting companies … and a virtuous cycle becomes unstoppable.  Makes dense.

Our neighbor, the University of Maryland’s Smith School of Business tried that approach … with some disappointing results.

In 2000, Maryland was  at #27.

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Given its relatively low #33 rating in Intellectual Capital, Maryland turned up the research jets.

Successful?

Well, Maryland’s ranking in Intellectual Capital skyrocketed to #2 … trailing only Duke – a perennial research giant.

What happened to it’s overall ranking?

Maryland dropped 15 spots … out of the Top 30 … to #42.

Ouch.

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Source: Business Week – 2000 & 2010 MBA Rankings

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BTW: The #3 program in Intellectual Capital is Wake Forest.

Its overall rank?

According to Business Week … #47.

>> Latest Posts

MBA Rankings: A big winner’s keys to success …

March 27, 2012

In a prior post, we looked at changes in Business Week’s rankings of MBA program in the 10-year period from from 2000 to 2010.

The key observations:

  • 13 MBA programs (e.g. HBS, Wharton, Kellogg) held their top 30 positions – plus or minus a spot or two – between 2000 and 2010
  • 6 MBA programs were in the 2000 Top 30 and improved their position by 6 or more spots between 2000 and 2010
  • University of Chicago  jumped 9 spots to take over the #1 ranking
  • 6 MBA programs that weren’t in the Top 30 in 2000 broke into the 2010 Top 10 (more on that later)
  • 5 MBA programs dropped a whopping 15 places or more from 2000 to 2010 (more on that later, too)
  • Another 6 MBA programs dropped 5 spots or more between 2000 to 2010

Among the 6 MBA programs that weren’t in the Top 30 in 2000 and broke into the 2010 Top 10, SMU is the shining star.

SMU came out of nowhere – unranked as late as 2006 – and soared to #12 in 2010.

How did they do it?

Here are the details that support the SMU ranking in 2008 – SMU’s first time in the Top 30:

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Answer: heavy emphasis on Teaching (A+) and Career Services (A) yielded a #17 ranking among Corporate Recruiters … and a number #18 overall ranking.

Not bad! But, apparently, not good enough for SMU.

Things got even better in 2010.

SMU kept Teaching at an A+ level and boosted Career Services from a plain old A to an A+ … the result: up to #6 with Corporate Recruiters and #12 overall.

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Source: Business Week – 2000 & 2010 MBA Rankings

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Bottom line: Get good students, teach them a lot, help them find jobs …. and, BINGO, MBA program success.

You’d think that’s common sense, right?  No surprise.

Well, tomorrow we’ll look at one of the biggest losers … with a twist that may surprise some of you.

>> Latest Posts

MBA Rankings: A 10 year perspective … and, some surprises.

March 26, 2012

There has been a lot of talk around here about the MBA school rankings.

Typically, the conversation revolves around the changes – up or down – from the last rankings.

I got curious … wanted to see the landscape change over a longer-term … and picked a 10-year time horizon of the Business Week rankings – 2000 to 2010.

My going-in hypothesis was that there would be heavy inertia … that the top slots would be occupied by the usual suspects.

And, I expected schools to show relatively little movement up or down.

Here’s what I found …

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13 MBA programs held their top 30 positions – plus or minus a spot or two – in 2000 and 2010:

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6 MBA programs that were in the 2000 Top 30  improved their position by 6 or more spots between 2000 and 2010:

  • UC Berkeley had the sharpest rise … 10 spots to #8
  • Univ. of Chicago (my alma mater) had the most impressive gain … “only” 9 spots since they couldn’t do better than taking over the #1 ranking
  • Stanford cracked the Top 10 by moving up 6 spots.

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Surprising (to me), there are 6 MBA programs that weren’t in the Top 30 in 2000 and that broke into the 2010 Top 10 … 5 just made it into the Top 30 … a proud accomplishment, but one that pales in comparison with SMU … SMU came out of nowhere – unranked as late as 2004 – and soared to #12 in 2010.

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Of course, if there are winners, there must be losers.

5 MBA programs dropped a whopping 15 places or more from 2000 to 2010.

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Another 6 MBA programs dropped 5 spots between 2000 to 2010.

  • 5 of the programs stayed in the Top 30 despite their skids
  • Cornell and MIT-Sloan dropped out of the Top 10
  • Unfortunately, my beloved Georgetown’s slip was enough to lose Top 30 status.  (Don’t worry, we’ll be back …)

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Source: Business Week – 2000 & 2010 MBA Rankings

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In subsequent posts we’ll drill down to “why?” and “so what?”

Stay tuned.

>> Latest Posts

 

The business of business cases …

March 20, 2012

Punch line: Publishing business case studies is big business, and more schools are looking to cash in.

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Excerpted from WSJ: “The Business of Case Studies”

The three largest case-study publishers and distributors jointly sell more than 10 million cases and see tens of millions of dollars in revenue each year.

Harvard Business School Publishing Corp. dominates the market, recording sales of 8.5 million case studies in fiscal 2011 and estimating that 80% of the cases used world-wide come from there.

To maintain its edge, about five years ago Harvard started offering “simulations,” or online role-playing exercises.

Though simulations still represent a minor share of sales, they are growing fast. Sales in 2011 rose 37% from the prior year, which was double the 2009 figure.

There also has been growing interest in short cases as publishers market to part-time M.B.A. programs for time-crunched working adults, which have seen a surge in enrollment in recent years.

Harvard’s “Brief Cases” and concise offerings from other publishers can run just three or four pages, about one-quarter the length of a traditional case.

Case publishers and distributors are pushing hard into emerging markets, too, accepting cases written by faculty at up-and-coming schools in India, China and Latin America and selling products to those same institutions.

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Top five cases from Harvard Business Publishing, fiscal 2011

  • Cola Wars Continue: Coke and Pepsi, 2006 — Competitive strategies of the soft-drink giants
  • Starbucks—Delivering Customer Service — Efforts to improve customer-service satisfaction
  • Apple Inc., 2010 — Can the iPad take the company to new heights
  • Walt Disney Co. — The Entertainment King—Disney’s 1980s turnaround and strategic challenges in the early 2000s
  • Toyota Motor Manufacturing, USA, Inc.—Solving assembly problems with the Toyota Production System

>> Latest Posts

Job fairs are so yesterday … now, there’s a “virtual” groundswell.

November 16, 2011

TakeAway: Companies are using online job fairs to save costs and time while providing job searchers with  information about the companies and positions available.

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Excerpt from WSJ: “Virtual Fairs Offer Real Jobs”

Companies are turning to virtual career fairs. Employers say these online forums — accessed by companies and job seekers from anywhere in the world — can save them time and money, as well as broaden the candidate pool.

Candidates learn about fairs through the company’s website, social-networking services such as Facebook and Twitter, or word of mouth.

Procter & Gamble  and Citigroup  customize their own company-specific virtual career fairs. Other firms join broad-based virtual career fairs hosted by companies like jobs sites Monster.com. The group fairs host anywhere from a handful to hundreds of companies.

The fairs are less about landing a job offer, say HR experts, and more about generating interest among candidates.

Lourdes Fuentes, a marketing executive with P&G, says the virtual fair is cost- and time-efficient because she can access it from her office and doesn’t have to spend a full day traveling.

Edit by ARK

>> Latest Posts

Aiming for the 1%, MBAs still flock to Wall Street…

October 26, 2011

So what if Wall Street firms almost caused the world economy to implode.

So what if a couple of the biggest firms cratered and bonuses have been slashed.

So, what is the Feds and protesters have the evil bankers in their sites.

Sill, according to the WSJ, MBA grads are heading to Wall Street – if they can land offers.

Financial-services industry hiring at the big Master of Business Administration programs hit a post financial-crisis high this year.

Employers such as banks, hedge funds, investment managers, private equity and venture capital firms hired 39% of job-seeking 2011 graduates at Harvard Business School and the Yale School of Management, 36% at the Stanford Graduate School of Business and 51% at Columbia Business School.

Even in an age of heavy layoffs, shrinking bonus pools and noisy antibank protests, it is no mystery why M.B.A. students keep entering the revolving door that is Wall Street. It pays well and carries considerable prestige.

But those getting jobs in finance will be entering an industry undergoing a massive belt-tightening, as investors flee banks hammered by a weak economy, tumultuous markets and tightening regulation.

“You’re vulnerable if you’re in that five-, seven- or nine-year range. You’re expensive and you don’t have clients.”

Investment bankers with about five years of experience can command compensation of close to $400,000.

New hires from business schools can expect about one-third as much.

Have to admit that I’m surprised that interest in finance careers hasn’t slowed a bit.

I guess there’s nothing like the smell of money.

>> Latest Posts

What, you don’t have a master’s degree?

July 27, 2011

Punch line: “Colleges are turning out more graduates than the market can bear, and a master’s is essential for job seekers to stand out”

Excerpted from NYT “The Master’s as the New Bachelor’s

Browse professional job listings and it’s “bachelor’s required, master’s preferred.”

Call it credentials inflation.

Colleges are turning out more graduates than the market can bear, and a master’s is essential for job seekers to stand out

Once derided as the consolation prize for failing to finish a Ph.D. or just a way to kill time waiting out economic downturns, the master’s is now the fastest-growing degree.

The number awarded, about 657,000 in 2009, has more than doubled since the 1980s, and the rate of increase has quickened substantially in the last couple of years.

Nearly 2 in 25 people age 25 and over have a master’s, about the same proportion that had a bachelor’s or higher in 1960.

* * * * *

The degree of the moment is the professional science master’s, or P.S.M., combining job-specific training with business skills.

Many new master’s are in so-called STEM areas — science, technology, engineering and math …  recognizing that not everyone is ivory tower-bound and are drafting credentials for résumé boosting.

* * * * *

So what’s going on here?

Have jobs, “skilled up”?

Or perhaps all this amped-up degree-getting just represents job market “signaling” — the notion that degrees are less valuable for what you learn than for broadcasting your go-get-’em qualities. “Credentialing gone amok.”

“There is definitely some devaluing of the college degree going on. We are going deeper into the pool of high school graduates for college attendance” making a bachelor’s no longer an adequate screening measure of achievement for employers.

>> Latest Posts

Major business school reviewing “enrollment procedures and criteria”

April 11, 2011

The following email was recently sent by the Dean of Northwestern’s Kellogg School of Management.

In a nutshell: oops !

Subject: Message from the Dean

Dear Kellogg community –

I wanted to personally write to you about a situation that has received some attention.

During a visit to the U.S. two months ago, Khamis Gaddafi, son of Muammar Gaddafi, attended a non-degree executive course at Kellogg from Feb. 9 – 11 at the Allen Center.

The U.S. State Department was aware of his visit, which occurred prior to the uprising in Libya and before the recent, very troubling allegations against him surfaced.

Our community shares a commitment to respecting human dignity and the integrity of our learning environment.

The Office of the Dean plans to actively review all of our enrollment procedures and criteria, and will determine any changes that need to be made.

Dean, Kellogg School of Management
Northwestern University

Bottom line: Sons of tyrants will no longer be given admissions preference.

My, how the world is changing.

Thanks to RM for feeding the lead.

In praise of global residencies …

February 28, 2011

Some timely reading for 2nd year Georgetown MBAs as they jump on planes to start their Global residencies. 

According to the dean of the Darden Graduate School of Business at the University of Virginia …

New research has revealed a sizable gap between what the business world needs and what business schools provide to their students.

The bane of most business school deans is the kind of conversation one has with a CEO who wags his finger and tells you that business schools just aren’t delivering the kind of talent business needs.

Lately, it seems that the CEOs have been telling a story like this: “A recent grad we hired got up to give a presentation to our senior management and had simply no appreciation for the challenges of globalization: no feel for the country or region; no anticipation of corruption or socialism in-country; no grasp of the supply chain difficulties; no appreciation for the differences in rule of law and property rights; and the proposed brand name translated into an unmentionable body part. The pitch was an embarrassment.”

A new report issued by the Association for the Advancement of Collegiate Schools of Business, the leading accreditor of business schools in the world reveals a sizable gap between what the world needs and what management educators do.

  • There are about 12,600 institutions in the world award undergraduate or graduate degrees of some kind in business.
  • Only about 10% of these are accredited as meeting widely accepted expectations of quality.
  • Many of the unaccredited institutions are locally focused, and concentrate in the developed economies.

There is a gap in the curricula of business schools, between the aspiration for global content and the reality.

Most schools — even leading schools — aren’t bringing globalization into the classroom in ways that do justice to the subject or the needs of businesses.

We should do better.

Fortune.  B-Schools: It’s time to globalize, February 25, 2011 

FT asks: “Are all MBA students narcissistic … or just most of them?”

December 10, 2010

Financial Times, The narcissistic world of the MBA student,  November 7, 2010

Success requires ambition, drive and the persistence and resilience to overcome setbacks and to work constantly on weaknesses.

But, the current generation of business school students entering the workforce have

  • a remarkable sense of entitlement
  • a reluctance to face honest feedback and the consequences of one’s actions
  • an unwillingness to acknowledge and engage in the competition that characterizes organizational life.

A recent meta-analysis found that between 1982 and 2009 there was a dramatic increase in narcissistic personality traits among MBA students – in part characterized by

  • an inability to take the perspective of others
  • a dependence on others for affirmation
  • a tendency to value oneself regardless of real achievements
  • a quest for constant praise.

Even if students didn’t arrive at the leading business schools already narcissistic, orientation activities would soon make them so.

One of the first things they are told is how accomplished and wonderful they are.

And the result of all of this coddling …  criticism is as likely to beget quitting as any efforts to improve.

Business schools must make changes to affect the pernicious culture of entitlement and narcissism.

Overall employment in advertising, marketing, promotions and PR is expected to jump 13 percent in the next decade, but …

October 21, 2010

… according to CNBC, career prospects for client-side Advertising and Promotions Managers are weakening.

The stats:
Employed in U.S.: 44,600
Change expected in next decade: -2%
Average salary: $80,220

The situation:
Overall employment in advertising, marketing, promotions and PR is expected to jump 13 percent in the next decade, but for those who direct a firm’s ad campaigns and promotions aimed at driving sales, prospects are expected to drop by 2 percent.

The drop is largely due to the economy – and the changing landscape of the media business.

Advertising and promotions are also subject to demand in the industries they’re promoting, so if an industry is hard hit by the economic slump, it will take a toll on the advertising and promotions managers that work with it.

The advertising industry is changing rapidly as the media and Internet landscape changes, making it crucial for advertising and promotions managers to be flexible and creative in harnessing new methods of promoting products.

Job opportunities will be greatest for those with a high level of creativity, plus strong communications and computer skills, and those who quickly adapt to new media such as the Internet and social media.

Full article:
http://www.cnbc.com/id/39541097?slide=7

Bold Stroke: GMAT to start testing skills that matter to MBAs

June 28, 2010

In its biggest change in more than a decade, the B-school admissions test will have a new section designed to test advanced reasoning skills.

Two years from now, the Graduate Management Admission Test (GMAT), the primary gatekeeper to business school for generations of MBA students, will get its biggest makeover in more than a decade, with the addition of a new section designed to test advanced reasoning skills.

The new section will replace one of the two writing sections currently on the exam … The test’s current verbal and math sections will remain unchanged.

The coming changes to the GMAT were pressed by faculty members at business schools around the world, who told the testing organization that they wanted a section that simulated the skills students use in MBA classrooms.

“These questions are really microcosms of what goes on in the MBA classroom, and it will help schools identify students [who] will thrive in the classroom, not just survive.”

The format of the new GMAT section—which GMAC has dubbed the integrated reasoning section—will be different from anything students have encountered before on the test.

Test takers will need to interpret charts, graphs, and spreadsheets, determine the relationships among data points, and answer interactive questions that will test their analytical skills.

The changes to the exam mirror shifts in the business school classroom in recent years, as schools have changed their curriculums to emphasize problem-solving and critical thinking.”So far, with the students we’ve tested, they felt like it did simulate what they are expected to do in business school.” 

Excerpted from BusinessWeek, The GMAT Gets a Makeover, June 24, 2010
http://www.businessweek.com/bschools/content/jun2010/bs20100624_048037.htm

There’s still hope for MBAs …

December 1, 2009

TakeAway:  There is no doubt that the hiring environment is less than ideal for MBAs … all MBAs. 

However, there is hope.  Companies appear to be hiring but students must be a little more flexible and patient than in the past.

* * * * *

Excerpted from BusinessWeek, “MBAs Confront a Savage Job Market,” By Anne VanderMey, October 29, 2009

Adam Rosenberg did everything right. He got into a good school. He landed a great internship. He was even vice-president of two MBA clubs and a graduate teaching fellow. But when it came time for companies to hire this year, the 2009 graduate … was surprised to find out how little it all mattered … 

He’s not alone … MBA students have found themselves facing what schools say is the worst hiring season they’ve ever seen.

According to the latest data … 16.5% of job-seeking students from the top 30 MBA programs did not get even one offer … three months after graduation. Last year that was true of just 5% of students. And … starting pay was down … For many programs, it marked the first time since the tech bubble burst that salaries didn’t increase. Signing bonuses, too, fell both in value and quantity …

One factor that made this recession different was that it hit MBA students where it hurt the most, with thousands of high-paying finance jobs going up in smoke …

The most successful schools this year were able to direct students who were shut out of investment banking and consulting into different industries … Rather than holding on to their hopes of working on Wall Street, students looked at their other skill sets …

A few sectors have been able to pick up some of the slack. Health care, energy, government, and nonprofit hiring are holding up particularly well …

Much of the hiring happened months later than normal. Many companies shifted from hiring on an academic schedule, which requires the stability to sign on new employees almost half a year before they show up to work, to hiring on an as-needed basis—often making offers much later in the year …

Early signs this year don’t point to a swift recovery for the class of 2010. Some believe the coming months will be even worse. That means many students will end up taking jobs they might not otherwise have considered or returning to industries they came to business school to get out of. That could be both good and bad news for this recession’s new grads.

Some students will discover jobs in new fields, try entrepreneurship, or travel to new countries. Instead of gravitating to a few companies that dominate recruiting, many schools say students are going to boutique firms or startups where they might be the only MBA hire that year … Students are opening their minds to new things …

Edit by TJS

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Full Article
http://www.businessweek.com/bschools/content/oct2009/bs20091029_862211.htm

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Did MBAs (and their financial models) kill Wall Street?

February 18, 2009

Ken’ Take: An interesting read.

Central premise: MBAs over-engineered markets with statistical models that left no room for error (or common sense).

* * * * *
Excerpted from Bloomberg.com, “Harvard Narcissists With MBAs Killed Wall Street”, Hassett, Feb 17, 2009

For two centuries, Wall Street survived wars, depressions, bank panics and terrorist attacks. Now Wall Street as we know it is dead. Gone.

Wall Street changed radically in recent years in one notable way. Twenty or 30 years ago, it was common for the best and the brightest to be doctors or engineers. By the 2000s, they wanted to be investment bankers.

When Wall Street was run by ordinary people it was able to survive everything. After the best and brightest took over, it died the first time real-estate prices dropped 20 percent.

If you walked into any major Wall Street firm a year ago and randomly selected an employee, chances are that person would either be from an Ivy League school like Harvard University, or have an MBA, or both.

The statistics are striking. Back in the 1970s, it was typical for about 5 percent of Harvard graduates to work in the financial sector… by the 1990s, that number was 15 percent. And the proportion of those with MBAs grew as well.. A 2008 report in Fortune said that Goldman Sachs hired about 300 MBAs in 2007 and that, last year, Merrill Lynch and Citigroup were planning to hire 160 and 235 MBAs, respectively.Is it just a coincidence that so many superstar minds arrived on Wall Street just as it died? Perhaps not.

Wall Street is gone because its firms did a terrible job assessing the risks of the positions they took. The models these firms used to evaluate risks failed. But having a failed model brings a firm down only if the firm collectively buys into the model.To do that, the firm must be run by people who have a great deal of faith in their models, and a great deal of faith in themselves.

That’s where Ivy Leaguers and MBAs come in.What do you get from an MBA? One recent study found that MBAs acquire an enormous amount of self-confidence during their graduate education. They learn to believe that they are the best and the brightest.

The consequences of Wall Street’s reckless brilliance in many ways parallel modern-day engineering disasters. If you travel through Italy, you can’t help but notice the many Roman bridges that still stretch across that nation’s waterways. How is it that the Romans could build bridges that would last thousands of years, while the ones we build today collapse after a few decades?

The answer is simple. Back then, they did not have the fancy computers required to calculate exactly how strong a bridge must be. So an architect made a bridge very, very strong. Today, engineers can calculate exactly how much steel they need to incorporate into a bridge to bear the expected load. The result is, they are free to make them weaker. Another result is less wiggle room for design error. Hence, modern bridge’s predilection for collapsing.

The same is true of the financial sector. Back when Wall Street was run by individuals without fancy degrees, they had a proper skepticism toward fancy models and managed their risks with a great deal more humility and caution.

Only when failed models became canon did catastrophe strike.Wall Street didn’t die in spite of being run by our best and brightest. It died because of that fact.
* * * * * *

Full article:
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=a_ac69DqFutQ

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