Northwestern Kellogg & HKUST Lead the 2018 FT EMBA Rankings
Where should you go to school for your Executive MBA? Good question. While, the answer may not be quite so simple, an official EMBA ranking can help.
There are many things you should consider before choosing the best EMBA program for you including average graduation salary, industry employment, research interests, and more. However, a good place to start is with the 18th edition of the Financial Times Global Executive MBA Ranking. This ranking collects key data from business schools and alumni around the world to come up with a list of the top 100 best programs worldwide.
We’ve collated some of the critical data from the ranking study to give you insight into what’s going on in the world of EMBA programs.
EMBA Graduates Choose Industry and Manufacturing
Compared to full-time MBAs, EMBA graduates are much more likely to work in certain industries like manufacturing. In fact, three times as many EMBAs are employed in industry or manufacturing compared to their full-time peers. The figure accounts for 17 percent of all graduates. In comparison, only 10 percent of EMBA graduates are in consulting roles. And they’re less likely to work in finance, too.
EMBAs Earn More Money
EMBA graduates can also expect to earn more money than full-time MBAs after graduation. The average salary for an EMBA is $220,000 whereas an MBA alumnus can expect to make $146,000. It’s a large gap that’s similar to the salary gap between an MBA and a MiM graduate ($146,000 VS $67,000). Keep in mind, however, that the typical Executive MBA student is significantly older and often has more work experience.
In contrast, full-time MBAs win when it comes to salary boosts before and after earning the degree. MBA alumni generally increase their salary by 107 percent while EMBAs only experience a 59 percent boost.
Top 10 EMBA Programs
This year, the top ten EMBA programs, according to the Financial TImes, includes four joint programs. In fact, these were the top four programs in the world ranking well for post-EMBA salary, alumni leadership positions, and work experience. Each of these programs offer excellent networking opportunities thanks to different cohorts across different campuses, connecting students around the world.
Here’s how all the rankings stacked up.
1. Northwestern Kellogg & HKUST
This joint program ranks first for the third year in a row, and it’s the ninth time in 12 years that it has headed the list—the other three times it ranked second. The program is known for having the highest average salary three years post-graduation, $507,000—$140,000 more than the second-highest salary. It’s also known for having half of its alumni as company leaders three years post-graduation.
No EMBA has dominated the annual FT ranking quite like the Northwestern Kellogg & HKUST join program, earning top billing once again for 2018.
2. HEC Paris, LSE, & NYU Stern
This trium global EMBA program ranks second in 2018, up from fifth the previous year. The program is ranked first in work experience, languages, and international course experience rank. It also ranks highly in average salary ($347,970) with an expected 60 percent salary increase three years post-EMBA.
3. Tsinghua University & INSEAD
For the second year in a row, the Tsinghua-INSEAD dual degree MBA comes in third overall on the FT EMBA ranking. Located in China, Singapore, France, and the UAE, the program is known for its high salary three years post graduation ($365,746), and its high percentage of female students (45 percent).
The rest of the top ten shakes down as follows:
- EMBA—Global Asia: Columbia Business School, HKU, & London Business School
- Ceibs
- HEC Paris
- Washington University Olin Business School
- Shanghai: Jiao Tong University Antai
- IESE Business School
- MIT Sloan School of Management
Surprising Schools
There were quite a few surprises in this year’s EMBA ranking.
- Though HEC Paris has ranked in the top five since 2006 because of its joint program with NYU Stern and LSE, this was the first year the school entered the top ten ranking on its own. The HEC Paris solo EMBA program ranks sixth overall, making it the highest new entrant.
- IESE Business School took home the crown as the top EMBA program for the new criterion corporate social responsibility (CSR).
- The University of Toronto Rotman School of Management EMBA moved up the most places in 2018, rising to 47th place overall—20 places higher.
No school saw a bigger rankings jump than the University of Toronto Rotman School of Management, rising 20 spots in 2018.
FT EMBA Ranking Methodology
To come up with the 2018 EMBA ranking, the Financial Times reached out to a record 139 programs with two online surveys: the first completed by the school and the second by alumni who graduated from programs in 2014. The methodology of the ranking is as follows:
- Alumni were required to provide feedback on salary today, salary increase, career progress, work experience, and aims achieved—accounting for 55 percent of the ranking’s weight.
- Schools provided insight into ten criteria, accounting for 35 percent of the total ranking. Criteria included: gender and international diversity, board members, international program reach, and more.
- Accounting for the final 10 percent of the ranking was the FT research rank, which looks at the number of articles published by a school’s full-time faculty.
And, for the first time ever, this year’s EMBA ranking included a new criterion for corporate social responsibility (CSR). This new criterion took a look at how many of a school’s core courses were dedicated to ethics, social, and environmental issues. Weighting at 3 percent, this criteria replaced the number of Ph.D. graduates per school.
Investing In U.S. Innovation, and More – Boston News
Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
The 1 Thing Your Company Should Add To Its Retirement Benefits – MIT Sloan Newsroom
MIT Sloan Professor Lotte Bailyn took part in a three-year research study under HBS Professor of Business Administration Teresa Amabile to understand the “organizational, social, and psychological forces that can affect people’s retirement experiences.”
Bailyn outlined two strategies to help “pre- and early-retirement individuals manage their transition out of the workforce”:
- The “Phase-down” strategy enables a “retiring employee to work less while receiving a percentage of their pay, plus benefits. At the end of the phase-down — which can range from months to a handful of years —the person retires.”
- The “Contracted rehire” strategy allows companies to hire back employees on a contractual basis, which Bailyn explains, “allowed the company to get the specific niche knowledge that that person has, and by working with other people, employees in the organization could pass on that knowledge.”
Questrom School of Business Professor of Management Tim Hall, one of the researchers on the study, adds, “It’s surprising how little employing organizations are doing to help them [transition]— even though at the same time they’re interested in maybe helping people move on and opening up opportunities for younger people, they’re not. I think there’s a great opportunity cost they’re suffering by not doing that.”
You can find more information on the study here.
How the U.S. Can Rebuild Its Capacity to Innovate – Harvard Business Review
There is a growing trend of companies across all industries choosing to “invent and manufacture abroad” in what Harvard Business School’s Willy Shih describes as a loss of “industrial commons.” According to a recent Harvard Business Review article, “nearly half of the foreign R&D centers established in China now belong to U.S.-based companies.”
“Over recent decades, VCs have overwhelmingly focused on software and biotech investments over ‘hardware’ investments, closing additional doors to manufacturing innovations. It’s no wonder that so many promising manufacturing enterprises have to look abroad to simply get off the ground—let alone soar,” writes Sridhar Kota, Justin Talbot-Zorn, and Tom Mahoney.
The article recently outlines four principles the U.S. could use to reinvigorate its industrial ecosystems.
- Don’t Fear Picking Winners: “Rather than allowing promising R&D results to languish in labs or even be commercialized by foreign competitors, the U.S. should launch a National Innovation Foundation to invest in engineering and manufacturing R&D to mature emerging technologies and anchor their production onshore.”
- Invest in Hardware Startups and Scale-Ups: “U.S. policymakers can … build on existing resources to help innovative hardware startups and scale-ups succeed—particularly through domestic government procurement [the way] China has employed government procurement, strategic technology transfer, and domestic technology development to build its respected high-speed rail industry.”
- Mind the Mittelstand: Small and medium enterprises (SMMs) “amount to about 250,000 firms, or 98 percent of all manufacturing firms. By strengthening and supporting these firms, the U.S. could rebuild the backbone of its manufacturing sector.”
- Power to the People: “While American high schools typically require students to dissect a frog, few require students to disassemble a power tool. Exposure to real-world engineering is a crucial and cost-effective way to build interest in manufacturing careers—through either four-year engineering degrees or vocational training.”
You can find the entire HBR article on re-investing in American industry here.
Legacies Catching On – Carroll School News
BC Carroll School of Management Professor of Information Systems Gerald Kane recently put together a new research report as part of a gig guest editing the MIT Sloan Management Review’s Digital Business Initiative. The report, Coming of Age Digitally: Learning, Leadership, and Legacy, emphasizes the need for companies to foreground experimentation in their “digitally maturation” processes.
According to the Carroll School News, “Nimble businesses create the conditions for employees to take risks and try new things. The key to [prepare] for more digital disruption is to not simply hire but develop digital leaders.”
“Part of developing leaders means giving employees the time and space to acquire new skills, an area where many companies need to improve. Ninety percent of survey respondents said they need to update their digital skills at least yearly—and 44 percent said they need to do so ‘continually.’ Yet at ‘early-stage’ companies (which are paradoxically often the older companies), nearly 30 percent indicated that their employers offered little to no support to do so.”
You can read more about Kane’s research here.
The Trump Threat Could Endanger Chinese Student Visas
For Chinese students looking to study in the United States, the trade war could start making things increasingly difficult. In fact, getting a student visa may become virtually impossible soon.
Earlier this year, the Financial Times reported that the Trump administration considered banning all Chinese students from the U.S. According to the newspaper, “Stephen Miller, a White House aide who had been pivotal in developing the administration’s hardline immigration policies, pushed the president and other officials to make it impossible for Chinese citizens to student in the U.S.” However, if that were to happen, the consequences would be devastating.
More than 350,000 Chinese citizens studied at U.S. universities during the 2016-17 academic year. That’s one-third of all international students, which means a ban would have a significant impact on available academic programs and more. For example, at the University of Illinois, University Vice Provost for Undergraduate Education Kevin Pitts warned that the recent decline in Chinese student enrollment could “affect the in-state scholarships it can offer.”
And the results could become even more troubling if a continuing decline in Indian students follows. China and India make up almost half of all international students in the U.S. Without both of those countries, universities may be in serious financial trouble.
Businesses may not get off free from a ban either. A lack of Chinese student visas could mean moving more resources outside the U.S. to stay competitive. According to William R. Kerr, the author of The Gift of Global Talent, “This link between American competitiveness and immigration is a persistent theme for the tech industry … talent in the knowledge economy can go anywhere—excepting, of course, where nations impose limits on people flows.”
Even if a full ban doesn’t go into effect, the U.S. is already feeling the results of the heightened tensions between countries. In June, the Trump administration began enacting new restrictions for Chinese students, which has already decreased student application in 2018 and created uncertainty.
“There’s a lot of fear among Chinese students,” according to Heather Stewart, the Counsel and Director of Immigration Policy at NAFSA: Association of International Educators, in a recent Forbes interview.
“Before the visa policy change, there were concerns about visa denials and slow processing. Now with the one-year visa for certain areas of study, there is further apprehension that the U.S. will lose these talented students to other countries.”
At this point, there’s no way to know how the Trump administration could swing, but things aren’t looking good. There are few remaining Chinese goods on which the U.S. can impose tariffs, which means Chinese student visas could take the next big hit in the trade war.
Read the entire Forbes piece, “What Will Trump Do Next With Chinese Student Visas?”
This article has been edited and republished with permissions from Clear Admit.
Business School Experts on the Glass Ceiling, and More – Chicago News
Let’s explore some of the most interesting stories that have emerged from Chicago business schools this week.
Here’s a Better Way to Schedule Surgeries – Kellogg Insight
Northwestern Kellogg Associate Professor of Operations Chaithanya Bandi and McCombs’ Diwakar Gupta recently published new research that focuses on how hospital administrators can optimize operating room schedules “while still satisfying surgeon needs.”
According to the article, “the researchers developed an innovative algorithm to improve OR operations, minimizing the number of ORs hospitals had to keep open, while still honoring surgeon requests,” which can drive savings of anywhere from 10-25 percent in OR costs and “lead to lower healthcare costs and thus lower insurance premiums.”
Bandi explains, “In healthcare settings, these kinds of savings don’t translate immediately to consumers. But better utilization of OR capacity helps the hospital see more patients in a shorter period of time, with lower rejections or delays for surgery requests.”
Bandi hopes to apply an “algorithm similar to the OR-optimization model to help data centers improve project efficiency. “Projects like these can take hours to run and incur very large energy costs. By some estimates, as much as 12% of the world’s total energy goes toward these projects.”
You can read more from Kellogg Insight here.
The Glass Ceiling: Three Reasons Why it Still Exists and is Hurting the Economy – Chicago Booth News
In a new working paper entitled “The Glass Ceiling,” Chicago Booth Professor Marianne Bertrand outlines three factors “why the glass ceiling persists in excluding women from top-paying jobs.”
- Women with college degrees often choose to work in fields that offer lower incomes.
- Psychological differences between men and women could account for up to 10 percent of the pay gap.
- The demands for child care, housework and other life chores outside of work fall more heavily on women than on men.
She explains, “In a world where talent is distributed equally among women and men, an economy that does not fully tap into the leadership skills offered by women is necessarily inefficient. Talent is left on the table when women are not placed in leadership positions, and the economy suffers.”
Chicago Booth Professor Marianne Bertrand
You can read more from Chicago Booth News here and check out “The Glass Ceiling” here.
‘We All Lose’ in Trade War, Says Gies Business Professor – Gies College of Business News
The University of Illinois Gies College of Business blog spoke with Professor of Finance Don Fullerton to understand the potential long-term ramifications of recent trade tensions between the U.S. and China.
The U.S. recently announced 10 percent tariffs on $200 billion of Chinese goods [like] industrial machinery parts, food seasonings, and network routers, while China countered with tariffs on $60 billion worth of American meat, chemicals, and clothes, which are set to increase to 10-25 percent by the end of the year.
“There’s going to be significant costs to bear. A lot of economists were arguing strongly against a trade war because in the long run we all lose. We’ll end up paying more for all kinds of goods. We’ll pay more for domestically-produced goods because we don’t get to buy the cheap imports anymore. And the goods we do import, we’ll pay more for because of the tariffs.”
You can read the Gies College of Business News here.
The New USC Marshall Faculty, Summer Programs, and More – Los Angeles News
We’ve rounded up the latest news coming out of Los Angeles MBA programs this week.
Students Explore Asian Culture Through Unique Summer Program – Loyola Marymount University Newsroom
The Center for Asian Business at Loyola Marymount University’s College of Business Administration celebrates the 10 year anniversary of its “Exploring Asian Culture” program this year. The course, which has served 142 students since its premier ten years ago, is held at LMU in the spring and includes a two-week immersion experience in cities throughout Asia.
This year, students traveled to Shanghai and Beijing in China and Seoul and Busan in South Korea. Throughout the two week trip, students had the opportunity to visit cultural sites, attend lectures, and visit with local companies.
“The program was designed to broaden students’ perspectives through global imagination, enhance cross-cultural understanding, and exemplify positive world views,” comments Dr. Marki Hackett, Assistant Director for the Center for Asian Business.
“Our goal is that the program promotes a deeper understanding and appreciation between Asians and Americans, as well as prepare students to work in the global market.”
Read more about the Center for Asian Business and the “Exploring Asian Culture” course at Marymount here.
New Faculty 2018 – USC Marshall Newsroom
The Marshall School of Business at USC has recently announced the addition of nine new and continuing teacher-scholars.
In the past two years, the university added more than 50 new faculty members to the business school, covering a wide range of departments including entrepreneurship, economics, and accounting. Marshall MBA alum Maria Colman, lecturer in the Department of Business Communication, and Feng Chen, Department of Data Sciences and Operations lecturer, are also among the nine new faculty members joining the school this year.
More than 50 new faculty members have joined the USC Marshall School of Business over the past two years.
“We are excited about these faculty appointments, which build on our long tradition of fostering excellence in both research and teaching,” comments Marshall’s Vice Dean for Faculty and Academic Affairs Nandini Rajagopalan.
Click here for more information on the new faculty joining Marshall this year.
A Career That Makes Memorable Experiences for Others: Incoming Director Ellen Kim Discusses Opportunities in Entertainment and Hospitality – Mihaylo Newsroom
Associate Professor of Management, Ellen Kim, has been named as the new Director of the Center for Entertainment and Hospitality Management (E&HM) at the Mihaylo College of Business at California State University, Fullerton. The Center aims to make students and graduates aware of the many opportunities in this growing field, especially in the Southern California area.
With Disneyland, Southern California has a unique position when it comes to careers in entertainment and hospitality. The E&HM Center is the only hospitality program at a university in Orange County, positioning Kim to play a defining role in the way the industry grows in the area.
“Our students major in business, taking courses in accounting, finance, marketing and operations that are very challenging, which makes them well-rounded,” Kim comments in the Mihaylo Newsroom.
“What makes our students stand out is that they have a strong business foundation, which Mihaylo College provides.”
Read more about the Center at Mihaylo here.
New MBA Jobs: Bain & Co., ESPN, Dell, and More
When it comes to the latest and greatest MBA jobs, MetroMBA has got you covered. Whether you’re looking for a consulting job at one of the top firms, or a tech job across the globe, this list has a little something for everyone. Check out this week’s curated list of new MBA jobs below: Continue reading…
