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Goizueta Leadership Initiatives Get $3.5 Million Thanks to Delta
Leadership development is one of the key skills emphasized in many MBA programs. In fact, Forbes and the U.S. News & World Report mention leadership as one of the top reasons to earn an MBA.
The importance of leadership training is particularly evident in Bloomberg’s 2016 Job Skills Report. Each year, Bloomberg asks 1,251 job recruiters and 547 companies about the skills they want but can’t find. In all industries, leadership skills were found to be less common, but highly desired in candidates.
Emory University’s Goizueta Business School is preparing its graduates for the demands of their next positions by placing an emphasis on its leadership initiatives, which just received a huge boost thanks to a $3.5 million gift from the Atlanta-based Delta Air Lines Foundation. Continue reading…
Admissions Tip: Welcome Weekends
It’s April, which means that the majority of leading programs will be hosting business school welcome weekends for those candidates that they have admitted during their first two admissions rounds. These “sell” weekends are very important for the schools as part of their push to encourage those that they have admitted to enroll. They know that many of their admitted students have options to go elsewhere, or are now considering the financial aspects of the program and concerned as to whether it is an economically viable option.
If you were fortunate enough to gain admissions to an elite MBA program, this post is for you. We explain the importance of attending welcome weekends and what you should want to learn.
The Potential Impact of Brexit on U.K. Business Schools
British Prime Minister Theresa May plans to invoke Article 50 of the European Union Lisbon Treaty on March 29th—triggering the United Kingdom’s two-year process of exiting the bloc of nations it has been part of for four decades. Given this, it seems a good time to look at the impact of Brexit on U.K. schools. According to a 2017 GMAC Brexit-U.S. Survey, 45 percent of respondents claimed that Brexit would make them less likely to study in the United Kingdom. But what does that figure mean? Are U.K. schools expecting fewer applications from top international talent, or is everything well? Continue reading…
7 Takeaways from the 2018 U.S. News Business School Ranking
The schools making up the top 10 in this year’s U.S. News & World Report ranking of the nation’s best MBA programs—released today—were exactly the same as last year. That said, there are a smattering of surprises in terms of how top schools rose and fell relative to one another—and in movement among schools outside of the top 15.
At quick glance, here are this year’s top 10, in order of their 2018 rank (2017 rank in parentheses):
1 Harvard Business School (1)
1 University of Pennsylvania’s Wharton School (4)
3 University of Chicago Booth School of Business (2, tie)
4 Stanford Graduate School of Business (2, tie)
4 MIT Sloan School of Management (5, tie)
4 Northwestern’s Kellogg School of Management (4, tie)
7 UC Berkeley Haas School of Business (7)
8 Dartmouth’s Tuck School of Business (8, tie)
9 Yale School of Management (8, tie)
9 Columbia Business School (10)
With today’s release, students, alumni and administrators at Harvard Business School (HBS) can toast their school’s third consecutive showing at the top of the list. But the University of Pennsylvania’s Wharton School has even more cause for celebration, having tied HBS for first this year. It’s only the second time in 28 years it has claimed the No. 1 spot. It’s also an important rebound for the Philadelphia school, which fell to fourth last year as it was surpassed for the first time ever by the University of Chicago Booth School of Business.
Chicago Booth isn’t letting up, though. It took third place this year after tying Stanford for No. 2 last year. After never having cracked the top three before, Booth’s now done it two years in a row.
Perhaps the biggest news among the top 10—and the farthest fall from grace—was Stanford Graduate School of Business (GSB)’s slide into a three-way tie for fourth place with MIT Sloan School of Management and Northwestern’s Kellogg School of Business. Stanford has never before not clocked in at least third or above in the U.S. News ranking.
Rounding out the top 10 were Haas, Tuck, Yale and Columbia—very similar to last year except that Yale slipped slightly, from a tie at eighth with Tuck to a tie this year at ninth with Columbia. It’s a slight gain for CBS, meanwhile, which last year was 10th, behind Tuck and Yale in a tie for eighth.
7 Key Takeaways from the 2018 U.S. News MBA Ranking
We’ve sifted through the data and compiled a summary of things worth taking notice of this year:
1) Wharton Is the Year’s Big Winner
Wharton has traditionally been considered part of the “holy trinity” of schools, behind only HBS and Stanford in many people’s eyes. That made last year’s fourth-place finish behind Chicago Booth a real blow.
This year, the school fought back—seizing a shared claim to first place for only its second time ever. Strong employment and pay figures—85.6 percent of graduates employed at graduation and the highest reported average salary of all schools, $155,058—helped significantly.
“This is excellent news for Wharton—especially after last year’s showing in the U.S. News ranking and, more broadly speaking, in light of the constant (and not always positive) media attention the school has garnered due to controversial alum, President Trump,” says Graham Richmond, Clear Admit’s co-founder. “While many will quip about employment figures and how they favor the likes of HBS and Wharton vs. Stanford, the key—from Wharton’s perspective—is being squarely back in the ‘trinity,’” adds Richmond.
Booth School of Business
2) Booth Stakes Its Claim in the Top Three
Last year, Chicago Booth tied Stanford for second place—its first time ever outranking Wharton and also the first time the Chicago school had secured a top-three spot in the history of the U.S. News rankings.
Making it into the top three for a second year in a row helps dispel any notions of last year being a fluke. A climbing GMAT average (726) and high employment numbers (84.9 percent employed at graduation) have played a part in its rise.
3) Methodology Disadvantages Stanford
Because U.S. News’ methodology relies on “grades” from corporate recruiters and other employment stats that favor larger firms over startups or entrepreneurial pursuits, schools with large numbers of students going into tech startups or entrepreneurship—such as Stanford—are essentially penalized. Stanford may be further hurt—at least in terms of the U.S. News list—by the fact that its graduates are confident enough that they’ll land a plum job that they can be a little choosier about which offers they accept. Indeed, only 62.8 percent of its MBAs were employed by graduation—as compared to 85.8 percent at Wharton, 84.9 percent at Chicago Booth and 79.3 percent at HBS.
Of course, Stanford came out ahead in terms of average GMAT/GRE scores (737), average undergraduate GPA (3.73) and overall student selectivity. With an acceptance rate of just 6 percent, it was by far the most selective school of all those ranked, with HBS accepting 10.6 percent, Wharton, 19.6 percent, and Chicago Booth, 23.6 percent. But these factors are given less weight than peer assessments and corporate recruiter survey scores as U.S. News crunches its data.
4) Yale SOM Defends Its Position in the Top 10
This year marks the third time since 2013 that Yale School of Management (SOM) has ranked in the top 10, giving the school an increasingly legitimate claim to membership in this elite club. In this most recent ranking, the New Haven school tied for No. 9 with CBS. Last year it tied at eighth with Tuck—a five-spot jump over the previous year.
Yale has been making improvements on several fronts. In 2011, the school hired Dean Edward Snyder—the very same dean who sat at the helm of Chicago Booth during its meteoric rankings rise in the early 2000s. Yale has also been poaching high-profile faculty from other schools over the last decade, including Andrew Metrick, professor of finance, and Anjani Jain, current assistant dean, both formerly Wharton faculty.
Add to that the opening of glittery new facilities in 2014 and the school’s traditional strength and reputation as a leader in the non-profit and corporate responsibility areas—currently in vogue with millennials—and the school’s continued top-10 showing makes sense.
5) Columbia Regains a Spot, Sort of
CBS is battling to maintain its top-10 claim, and its tie this year with Yale for ninth is theoretically an improvement over its 10th place finish last year. But it’s still down from the No. 8 spot it successfully defended from 2012 through 2016. Contributing factors could include the rising cost of living in New York and declining interest among applicants in the financial sector—but that’s just conjecture.
As we noted last year, CBS is one of only a few schools in the top 10 that haven’t recently unveiled a new building or substantially expanded their facilities, which could be a liability. Construction is underway for an impressive new Manhattanville campus, but its projected completion date has been pushed off from the original 2018.
Yale’s moving into—and remaining in—the top 10 has also exerted downward pressure on CBS.
6) NYU Stern Gets Its Scores in on Time, Bounces Back from 20 to 12
Last year’s biggest shock was NYU Stern’s plummet from No. 11 to No. 20. But as U.S. News noted at the time, the reason for Stern’s sharp decline was the fact that it didn’t get its GMAT/GRE scores in on time. When it did get the scores in, U.S. News refused to recalculate the rankings.
NYU Stern
The drop of nine spots on the list did seem harsh—and pretty implausible. Indeed, this year’s No. 12 showing seems much more legit for the traditionally top-15 school—suggesting it got its scores in on time this year.
Again, Clear Admit’s Graham Richmond weighs in: “Last year’s NYU Stern/U.S. News rankings fiasco did not paint U.S. News in the best of lights. It felt like a petty slap on the wrist aimed at Stern and served to raise questions about the validity of the rankings, which were arguably no longer accurate where a key school was concerned. While it is nice to see things seemingly back to ‘normal’ this year, the issue highlighted the perils of a straight ordinal ranking that some suspect can be tweaked to sell magazines, rather than a tiered ranking that represents the true matriculation behavior we see among applicants seeking an MBA.”
7) Movers and Shakers Elsewhere in the Ranking
Of course, there are many business schools beyond the top 10. U.S. News ranked 131 schools in total. Further down in the rankings you see some more precipitous gains and losses. On the plus side, Arizona State University’s W. P. Carey School of Business and USC’s Marshall School of Business both cracked the top 25. Carey jumped 10 places to 25th, from 35th last year. Marshall moved up seven spots to come in just ahead of Carey at 24th.
The University of Virginia’s Darden School of Business slipped three spots to 14th, it’s second consecutive year of decline. Vanderbilt’s Owen School of Management also took a hit, dropping from 22nd to tie with Carey at 25th. Falling out of the top 25 altogether was Rice University’s Jones Graduate School of Business, which dropped to No. 29. This, despite its 11-spot leap to eighth place in Bloomberg BusinessWeek’s November 2016 ranking.
This article has been edited and republished with permissions from Clear Admit.
Terry Women’s Initiative Named ‘Innovation that Inspires’ by AACSB
The University of Georgia – Terry College of Business‘ women’s initiative was recently honored by AACSB International as an “innovation that inspires.”
LBS Employment Report Finds Grads Falling Out Of Love With Finance
London Business School MBA graduates may be seeing higher salaries and increased hiring rates, but its love of the finance industry may be waning.
According to the 2016 London Business School employment report, MBA grads are joining the financial sector at the lowest rate in five years. LBS grads are still joining the industry at 25 percent overall, which trails the 35 percent of graduates that enter consulting. Technology, which hired the third-most LBS 2016 graduates, came in third at 21 percent—the same percentage from the previous year.
via London Business School Employment Report 2016
Goldman Sachs, which typically hires the most LBS MBAs that move into the financial sector, only hired six employees from the 2016 class, down from nine the previous year. Credit Suisse and Citi Bank also hired less grads than the previous year. This all comes despite the fact that the aforementioned companies hired several more total summer interns, but did not retain them. For instance, Goldman Sachs took in 13 interns but only hired six employees—creating a retainment rate of only 46 percent.
Another marked difference is the slightly noticeable decline in finance hires joining private equity firms rather than traditional investment banks. 2016 marked the first year—ever—that more joined private firms, with nine percent of graduates compared to seven percent joining investment banking. These figures fall in line with trends that have persisted since the financial collapse of 2008. eFinancialCareers debuted a report in September of 2016 that found a steadily declining love between MBAs and traditional big banking.
If you’re in London in particular, therefore, the MBA-into-banking route has pretty much disappeared in 2016. Banks’ recruiters say it’s the culmination of a long term trend. ‘This has been going on since 2008,’ says one, speaking off the record. ‘Once things got tough, MBAs just weren’t seen as value for money any more.’
Despite the dampening of the overall numbers, salary rates saw a noticeable bump for finance industry hires. The average annual salary of 2016 grads jumped from £78,358 to £81,905, with the highest max salary leaping from £125,468 to £151,469.
Consulting Hires Jump
The total percentage of LBS graduates joining the consulting industry jumped moderately from 33 percent in 2015 to 35 percent last year, with the majority of hires joining Boston Consulting Group (BCG), McKinsey & Co. and Bain & Company. BCG specifically saw hires nearly double over the course of a year, improving from 19 to 34 total.
Like the financial sector LBS hires, salaries increased across the board for consulting industry MBAs. The average annual salary of those in the industry leaped from £79,773 to £83,268, although the highest salary tracked was £117,389—down from £121,824 in 2015.
The Incoming LBS MBA Class
A total of 411 new students will join LBS in 2017, ranging from 24 to 39 years of age. They enter the MBA program with an average of five years of professional work experience and a 701 GMAT score (up from 699 last year). As well, there is a moderate increase in female students and diversified nationalities. Accepted female applicants jumped to 37 percent from 36 percent, and 68 total nationalities are represented, up from 65 in 2015.
You can read the entire LBS 2016 employment report here.
Scheller Ranked Highly for Student Satisfaction and Job Placement
The full-time MBA program at the Georgia Institute of Technology – Scheller College of Business recently ranked fourth overall in the nation for both job placement and student satisfaction by Bloomberg Businessweek.
100% Job Placement for Stevens Institute of Technology Class of ’16
Stevens Institute of Technology’s School of Business recently revealed exciting news about the class of 2016.
In a new press release, the school officially announced that every member of the recently graduated class either landed a job or was accepted into the graduate program of their choice.
Ted Rogers Offers Career Tips for the New Year
Now that winter break is officially over; it’s time to get back to work and back to school. We hope you spent the break productively, but if you didn’t, don’t worry the new semester is still a perfect time to shape up. And, according to Laura Henshaw (Co-op Coordinator at the Ted Rogers School of Management Business Career Hub), there are two things that you should do: tidy up your social media and expand your network. Continue reading…
Stanford GSB Impact Fund Bridges Classroom and Workforce
Stanford’s Graduate School of Business recently published an article by Margaret Steen about the first investment made by the Stanford GSB Impact Fund in Geneticure, a pharmocogenetic testing company “working on a better diagnostic test for hypertension [to] quickly identify which treatment will work best for which patient.”
Continue reading…
Top 10 Employers in Seattle
The Seattle metro has earned a reputation as a cultural hub with abundant employment and easy access to natural splendor continues to lure new denizens to the Emerald City, which now boasts a population of over 650,000.
Continue reading…
Stanford Adjunct Teaches Better Communication Through Improv
Stanford’s Graduate School of Business recently published an interview with People Rocket founder Richard Cox, whose cutting-edge management design firm employs techniques from improvisational theater to advise corporate leaders. Executives from Google and JPMorgan Chase depend on Cox so they can “get other people to take actions.” Continue reading…
Wharton Professor Offers Advice on a Vital Tool – Résumé Optimization
Peter Cappelli, Professor of Management and director of the Center for Human Resources at The Wharton School of the University of Pennsylvania recently offered some sound advice that could be invaluable to MBAs in the throes of a job hunt.
Cappelli, the author of “Why Good People Can’t Get Jobs” says simply in a New York Times ‘Workologist’ column, “Write the résumé around the job description.”
Rady School Ranked as One of the Top Business Schools in the World
Once again, the Rady School of Management at UC San Diego was recognized as one of the top business schools in the world. According to a ranking released by CEOWorld Magazine, Rady ranked #81 for global business schools for executives and entrepreneurs in 2016. Continue reading…
Oxford Saïd MFE Retains Financial Times’ Number One Ranking
The Global Masters in Finance (MFE) program at Saïd Business School, University of Oxford (Oxford Saïd) has maintained its #1 Financial Times ranking in the UK, as announced in a June 20, 2016 press release.
The school moved up three spots to become 11th worldwide.
Summer Reading: 10 Essential Books about Leadership
Some say leaders are born not made. But any successful entrepreneur will tell you that a deep knowledge of how to engage and inspire their team trumps innate charisma more often than not.
Bauer Students Inducted Into Business Honor Society
The University of Houston – C.T. Bauer College of Business recently held an event to honor eighty Bauer students on their induction into an honor society regarded as “the best in business”.
Terry Women’s Initiative Launched at Terry College
The Terry Women’s Initiative was recently launched at the University of Georgia – Terry College of Business, a program which will be dedicated to recruiting, advancing, and inspiring confidence in students.
