Chicago Booth Expands Deferred Admission MBA Program to All Students
The University of Chicago Booth School of Business announced this week that it has expanded its deferred admission MBA program. Previously limited to undergraduates at the University of Chicago, it is now open to any student in their final year of study at any undergraduate institution.
Chicago Booth Scholars
The Chicago Booth Scholars program gives talented undergraduate seniors the opportunity to apply for a place in a future Booth MBA class. Those who gain admission can then complete two to four years of full-time work experience before heading to Booth for their MBA.
In an effort to provide ultimate flexibility, participants in the expanded program can chose between the full-time MBA program at the Hyde Park campus or the evening and weekend MBA program at the downtown campus.
“Continuing to build the most talented and diverse classes of MBA students is a priority for Chicago Booth,” Dean Madhav Rajan notes in a recent statement.
Why Expand?
Chicago Booth has chosen to expand its deferred admissions MBA program, which launched in 2002 exclusively for University of Chicago undergrads, in an effort to draw great talent from across the nation and the world.
“This program is extremely successful in terms of the caliber of students it has attracted and the excellent alumni that come out of it,” Stacey Kole, Chicago Booth deputy dean for the MBA program, said in a statement. “There is great talent beyond our own university, which is why we are opening this opportunity to students attending other colleges and universities.”
To Apply
The next application deadline is April 4, 2019, and the $250 application fee will be waived for all Chicago Booth Scholars applicants. One advantage of the program is that it lets college students complete the MBA admissions process—including taking the GMAT or GRE—while they are still in test-taking mode and before they enter the busy working world.
You can learn more about the expanding Chicago Booth Scholars program here.
This article has been edited and republished with permissions from Clear Admit.
The Best MBA Internships: Midwest
The Midwest is a great place to live. Not only is it among the friendliest places in the U.S., but it’s home to some top-rated MBA programs including the University of Chicago’s Booth School of Business, Northwestern University’s Kellogg School of Management, the University of Michigan Ross School of Business, and Indiana University’s Kelly School of Business.
So, with all these great schools in the area, the question is, where should you look for your MBA internship in the Midwest?
Below, we’ve highlighted 14 of the best MBA internships spread out over the cities of Chicago, Milwaukee, Cleveland, St. Louis, and Minneapolis.
When it comes to the Midwest, Chicago is the foregone epicenter. And there’s no doubt that it’s a great city for internships with many top companies. Chicago is home to nearly 40 Fortune 500 companies while also being considered the financial and cultural hub of the area.
So, where should you look for an internship in Chicago? There are many options:
- McKinsey & Company: McKinsey is known for recruiting from a variety of Midwest schools, including Chicago Booth, Northwestern Kellogg, Indiana University Kelley, and Carnegie Mellon Tepper. In fact, last year McKinsey & Co hired 48 employees from Booth. This accounts for nearly 10 percent of the 2017 Booth MBA class.
- United Airlines: United Airlines is headquartered in Chicago, IL and has a wide variety of MBA internship opportunities available in the city. There are opportunities in marketing, financial planning and analysis, HR, legal, corporate and government affairs, and more.
- Google: For an internship with Google in the Midwest, then Chicago is where you need to be. The Google internship program has openings for students interested in business strategy, finance, hardware, people operations, product management, and more.
As the largest city in Wisconsin and the fifth largest city in the Midwest, Milwaukee is another great location for MBA internships. The city is known for manufacturing and service companies and is home to six Fortune 500 companies. In particular, the city is known for having a large number of financial service firms and health care opportunities.
In terms of internships in the city, you should keep your eye on these companies:
- U.S. Bank: An internship at U.S. Bank is a great choice if you’re looking for the opportunity to work for the fifth largest bank in the U.S. There are opportunities to intern in distributed database administration, fund services, product management, private capital management, lending services, and more.
- Northwestern Mutual: Headquartered in the city, Northwestern Mutual is home to many MBA-level internships. Students can intern in public investments, analytics, strategic sourcing, and more.
- SC Johnson: In Racine, WI, just outside of Milwaukee, MBA students can find an internship opportunity at SC Johnson. There are openings in marketing, finance, sales, research and development, manufacturing, and IT. It’s an ideal company for those interested in a career in manufacturing.
Cleveland, Ohio home to manufacturing, financial services, healthcare, and biomedical companies. Many top-rated companies call the city home including NACCO Industries, Sherwin-Williams, Applied Industrial Technologies, and KeyCorp. NASA also maintains a facility in Cleveland.
For internship opportunities in the area, look to:
- Eaton: The Eaton MBA internship program is ideal for global MBA students who are interested in the energy industry. Eaton is a $20.4 billion company with 95,000 employees around the world with MBA internships in supply chain management, human resources, and more.
- Nestle: Located in Solon, OH, just outside of Cleveland, Nestlé has an MBA internship program for students interested in marketing or brand management. Internships get the opportunity to work with the company’s global portfolio of more than 2,000 leading brands.
- KeyCorp: Headquartered in Cleveland, KeyCorp is one of the nation’s largest bank-based financial services companies with more than $134.5 billion in assets. Every year, they high MBA summer associates in investment banking
St. Louis is the cultural and economic epicenter of Missouri. As the 19th largest city in the U.S., it is considered a major economical center for service, manufacturing, trade, and tourism. The metro area is home to many major corporations including Anheuser-Busch, Boeing Defense, Energizer, Panera, Enterprise, Edward Jones, and Purina. In fact, nine Fortune 500 companies call the city home.
Top MBA internships in St. Louis include:
- Monsanto: The beleaguered Monsanto was recently acquired by Bayer to strengthen its agricultural division. The MBA internship is designed for individuals interested in digital strategy and innovation.
- Emerson: The U.S. MBA leadership program at Emerson is designed for students interested in marketing, operations, supply chain, strategy, HR, financial, or business development. Each year, the company interviews more than 400 MBA candidates to fill their roles.
- Ameren Corp: As a leader in energy, the Ameren MBA internship is ideal for candidates interested in providing new solutions to tomorrow’s energy needs. MBAs interested in environmental policy and sustainability are preferred.
Minneapolis is the larger of the Twin Cities and the 16th largest metro area in the U.S. Recognized as a global city, the economy is known for business, medicine, sports, manufacturing, and research. Five Fortune 500 companies call Minneapolis their home including Target, U.S. Bancorp, Xcel Energy, Ameriprise Financial, and Thrivent Financial.
The best MBA internships in the area include:
- Target: The Target Arrows Leadership Development Program is designed for MBA students interested in being a part of Target’s global supply chain and logistics. It’s ideal for individuals interested in operations.
- S. Bank: Headquartered in the city, U.S. Bank is home to a ten-week competitive internship for students interested in retail payment solutions, enterprise strategy, lending services, performance engineering, and more. Here’s an example of the ad for a product management intern.
Better Advice, Getting Kids To Stop Drinking Soda, and More – Chicago
Let’s explore some of the most interesting stories that have emerged from Chicago business schools this week.
A New Way to Persuade Kids to Drink More Water and Less Soda – Kellogg Insight
Northwestern University’s Kellogg School of Business recently published an article that surveyed a number of strategies that Associate Professor of Marketing Michal Maimaran and his colleagues pursued in collaboration with UNICEF to encourage children to drink more water and less soda.
Maimaran, Stanford’s Szu-chi Huang, BU Questrom’s Daniella Kupor, and the University of Amsterdam’s Andrea Weihrauch attempted to link “water consumption with different goals that kids might want to achieve” by designing four “Drink Water” posters, each with a distinct message: “Be Healthy,” “Learn Faster,” “Make Friends,” and no message.
According to the research, the only poster that spurred bottled-water sales was “Be Healthy,” which Maimaran believes is likely due to the fact that “kids are persuaded by messages that rely on a natural association between the action and goal, such as between being healthy and water.”
You can read more about the research here.
Capitalizing On Sleep-Wake Cycle Can Drastically Increase Digital Ad Profits From Social Media – Mendoza Ideas & News
Recent research from the Notre Dame University Mendoza College of Business shows that “digital content platforms can increase traffic to their websites from social media and boost digital ad profits simply by aligning their posting schedules with target audiences’ sleep-wake cycles, or circadian rhythms.”
Vamsi Kanuri, Assistant Professor of Marketing at Mendoza explains in his new research that, “Consumers engage more with posts containing high-arousal negative information, including anger, stress, anxiety or fear, in the morning than in the afternoon or evening. They engage more with ‘boosted’ (paid to advertise) posts and those requiring higher cognitive processing, such as op-eds or scientific material, in the afternoon.”
“Scheduling Content on Social Media: Theory, Evidence and Application” is due for publication in the Journal of Marketing soon. You can also find more on the research from Mendoza Ideas & News here.
Why is it Better to Give Advice Than Receive It? – Chicago Booth News
Chicago Booth Professor Ayelet Fishbach
A new study from and Penn’s Lauren Eskries-Winkler and Christopher H. Browne Distinguished Professor of Psychology and famed writer Angela Duckworth found that people tend to “benefit more from giving advice than receiving it.”
According to the study, which was recently discussed in the Chicago Booth News, “the very act of giving the advice makes the giver feel powerful and confident. When people lack motivation, receiving advice may actually be harmful … because it undermines feelings of competence.”
The authors note, “In the process of giving advice, advisers may form specific intentions and lay out concrete plans of action—both of which increase motivation and achievement.”
“We hope our findings, which illuminate the motivational power of giving, do just that: goad scientists and practitioners to consider the ways in which struggling individuals benefit from giving.”
“In Giving We Receive: A Counterintuitive Approach to Motivating Behavior” is due for publication in Psychological Science.
You can read the full article from the Chicago Booth News here.
New MBA Jobs: BCG, Capital One, Accenture and More
There’s always new and exciting job opportunities out there for MBAs. Whether your a seasoned business professional who sought an MBA to reach a high level position, or a new MBA grad looking for an entry level consulting job, here’s this week’s top new MBA jobs.
Top MBA Recruiters: AT&T
Finding employment after graduating from an MBA program can be a challenge for some. Thankfully, new MBAs are never alone in the process. From companies that actively recruit talent from business schools throughout the country, to MBA programs themselves helping to facilitate interviews and job referrals for their students, students should be sure to take advantage of resources available to them.
A look at 2017 employment data from a top MBA program like the University of Chicago’s Booth School of Business reveals the overwhelming trend: a whopping 89.2 percent of students found employment through university-facilitated avenues, be it on-campus recruitment and interviews, networking events, or through a Booth-facilitated summer employer. The success of campus recruitment benefits everyone, not only because universities are willing to open their doors and advocate for their students, but because top companies go out of their way to recruit young talent and create opportunities for them.
One such company is American multinational telecommunications holding company, AT&T. Founded in 1983 as the Southwestern Bell Telephone Company—part of the Bell Telephone Company with roots in the late 19th century—today AT&T has more than 254,000 employees worldwide and $190 billion in revenue. With a commitment to MBA graduates through internships and early career development programs, AT&T makes the grade as a top recruiter and employment destination for MBAs.
What Is An AT&T Career Like for MBAs?
It should be no surprise that MBAs love working at AT&T when you know the kind of investment this company makes in the educational development of its employees. In 2016, AT&T spent $250 million on employee training and invested roughly 20 million hours into the process. With so many opportunities for ambitious team members to accelerate their careers through leadership and development programs, this is the perfect company for those looking to quickly rise into leadership roles.
AT&T has been awarded many times for its workplace culture, including being named on Fortune‘s ‘100 Best Companies to Work for in 2018‘ and 3rd overall on the Diversity Inc. list of the ‘Top 50 Companies for Diversity‘ in 2018.
Of course, it pays to have an AT&T career, even beyond a positive workplace culture. According to PayScale data, MBA graduates at AT&T earn an average annual salary over $95,000. This can range as high as $142,000 for those in operations management. Employees, including interns, are rewarded with competitive compensation and benefits, including paid holidays, time off, and discounts for AT&T products.
Getting Started
MBA students interested in starting an AT&T career should keep an eye out for the various recruitment events set up through their university, where they can apply on campus and may be selected to interview with college recruiting managers. Because of the company’s heavy investment in a diverse workforce, AT&T also has a strong presence at recruitment conferences like the Forté Foundation for female business leaders, Reaching Out MBA for LGBT candidates, and the National Black MBA Association (NBMBAA).
Many MBAs start their AT&T career through its many internship opportunities, which are found at locations throughout the country and typically last 10-12 weeks. AT&T offers these paid internships a huge variety of fields, such as data analytics, cybersecurity, entertainment group technology, software development, and leadership, among others.
In addition to internships, MBA graduates may apply for one of the many AT&T career development programs. These are full-time, paid rotational programs that may last anywhere from two to three years, providing hands-on experience, exposure and opportunity. Development programs at AT&T include:
- B2B Sales
- Cybersecurity Development
- Engineering and Operations Development
- Finance Leadership Development
- Leadership Development
- Software Development
What Does AT&T Look for in MBA Candidates?
When hiring for its MBA internships and development programs, AT&T looks for students with at least three years of professional experience with the ability to collaborate on complex issues and thrive in a leadership role. The company seeks candidates who are passionate about the role technology can play in people’s lives and its capacity to transform.
In addition to the internships and early career programs, AT&T also looks for more experienced MBA holders for higher-level executive and management positions. For these roles, the company seeks candidates with at least five to eight years in experience related to the role with the ability to work in a team, be a self-starter, and think critically.
Day-To-Day Creativity, and More – Chicago MBA News
Let’s explore some of the most interesting stories that have emerged from Chicago business schools this week.
Putting Creativity to Work – Chicago Booth Magazine
Chicago Booth recently published an article about how entrepreneurs and employees alike create opportunities for creative thinking.
Bay Area online video startup Darby Smart’s Nicole Farb (’09) suggests setting aside “open blocks of time for less structured thinking while brainstorming initial ideas.” She adds, “In my own life, creativity is a journey. I’m often doing it for the process, not the outcome.” She also advocates that part of embracing creativity is “failing fast.”
U.S. Postal Service Marketing and Client Relationship Manager Mauresa Pittman (’10) writes of the challenge involved in distilling the creative process to just a stamp. She writes, “The creative challenge became, how do we sum up one of the most prominent American artists of the 20th century in a pane of 12 stamps. [We also] need to consider how this message could land with different audiences and ask ourselves if we are being mindful of the diverse viewpoints.”
Ted Wright (’00), founder of Atlanta-based word-of-mouth marketing agency Fizz, believes creativity is the result of “data plus will.” He adds, “We start by asking a lot of questions about your company. For us, creativity starts with what the story is that you are trying to communicate to people.”
You can check out the full article here.
Business Students Learn the Meaning of ‘Moralogy’ During Summer Program in Japan – Mendoza Ideas & News
The Notre Dame University Mendoza Business and Culture in Japan course introduced “undergrads to Japan’s cultural and business traditions during four campus class sessions and two weeks on-site in Tokyo.”
Mendoza Associate Teaching Professor of Management & Organization and Liu Institute for Asia and Asian Studies faculty fellow Jessica McManus Warnell led the 17-member cohort on the trip to understand Japan’s “moralogical” approach to business, which “presents the idea that business can foster a virtue ethic that then makes business better for all stakeholders—customers and clients, employees, managers, and society.”
She writes, “What we were hearing from the companies we visited [in Japan] was that successful business is more about societal impact and employee engagement and customer satisfaction.”
You can read more from the article here.
What Will It Take to Get More Women on Boards? – Kellogg Insight
Northwestern Kellogg surveyed the gender gap that exists within many company boards—19.9 percent of S&P 500 company directors and 14.7 globally—and how to build more momentum to get more women to serve on boards.
The article’s first point involves the consideration of women who happen to be senior VPs or C-level positions other than CEO when companies want to add a female director. “Applying the same qualifying criteria to both male and female directors would increase the pool of executive women who bring talent, experience, and a diverse perspective to board service.”
The article notes that a major part of being considered as a board director involves “honing a value proposition,” which Kellogg’s Women’s Director Development Program has helped almost 800 women understand in order to be better prepared for board opportunities.
The article singles out a story from one high-level executive whose phone did not ring despite “vast experience, incredible skills, and a huge network.”
“When nothing happened, she realized she needed to reach out strategically to an even broader range of people to communicate the value she could bring to particular types of boards and seek their advice. She ultimately secured a seat not only on the board of one company she admired, but a number of others as well.”
Read the rest of the article here.
