One Year Later: MBA Program Gender Parity at USC Marshall
Last fall, USC Marshall became the first top-tier MBA program to reach gender parity with the full-time MBA Class of 2020 having as many women as men. It was a massive 20-point percentage increase from the previous year when women made up just 32 percent of the class.
Now that almost a year has gone by, we wanted to reach back out to USC Marshall to see how reaching gender parity has affected this year’s class, the new recruiting season, the business marketplace, and more.
To gain insight into what’s happening at the school, we spoke with Evan Bouffides, assistant dean and director of MBA admissions, as well as Mark J. Brostoff, the assistant dean and director of graduate career services. They both offered unique perspectives on the impact of USC gender parity at the Marshall School of Business.
USC Marshall Class of 2021 Recruiting
While the Class of 2021 recruiting season is still ongoing, it’s not possible to gain a full picture of how achieving gender parity has affected the upcoming class, though Bouffides has witnessed a few changes.
Evan Bouffides, Assistant Dean and Director MBA Admissions, USC Marshall
“This year, industry-wide, many U.S. business schools were down in application volume, but USC Marshall received about the same number of applications as last year,” says Bouffides. At the same time, the “quality has gone way up.” As they’ve been reviewing applications for the Class of 2021, Bouffides believes the candidates have been stronger—both men and women.
Now, while that improvement cannot solely be laid at the feet of gender parity, it’s certainly a factor. Gender parity has made candidates more enthusiastic. Other factors include the continued improvement of USC Marshall’s rankings as well as the overall trajectory of the MBA program.
One thing that hasn’t changed is how Marshall is recruiting MBAs—with one exception.
After achieving gender parity last year and admitting the largest number of underrepresented minorities ever, USC Marshall has set their sights on international diversity, and particularly, international female diversity. “This is where we’re lagging behind,” explains Bouffides. “So, we concentrated our 2021 recruiting efforts on traveling to certain parts of the world including Africa, South East Asia, and Latin America where we haven’t gone before or often.”
Beyond that, Marshall held the same recruiting events as last year, including the third annual International Women’s Day Celebration Event in February. The event was extraordinarily well attended with even more enthusiasm this year over last.
Inside the First 50/50 Class
As for what’s happening with the class who achieved gender parity, you wouldn’t notice much difference from any previous class except that there are more women.
“If you break down the Class of 2020 into geography, academic area, or prospective career, there really isn’t a marked difference between students,” says Bouffides. “There’s definitely a story to be told being a class of 50/50 men and women, but we don’t know what that story is yet.”
What Marshall does know is that there has definitely been a positive vibe when it comes to having a gender equal MBA class. People appear to be generally happy with the achievement, and diversity and inclusion have been bigger than ever.
One noticeable change is the increase in women in leadership in the 40 MBA clubs and organizations. Women have always tended to take on more of those leadership roles, but now it’s even more recognizable.
Women in the Business Marketplace
As for the business marketplace, “obviously, there’s excitement about the fact there’s gender parity,” says Brostoff. And while it hasn’t opened up any floodgates in regards to internship recruiting or getting on the radar of new companies, there has been quite a bit of positive reaction. This is especially good news considering the Forté Foundation’s latest research, which revealed that gender inequality impacts almost half of all MBAs in the workplace.
Mark Brostoff, Assistant Dean and Director, USC Marshall Graduate Career Services
“We’ve had quite a few companies decide to start recruiting at USC Marshall when they might have been a little more hesitant in the past,” Brostoff explains. And while he wouldn’t lay all that success on the back of gender parity, it’s played a role, especially for tech companies.
Tech companies have been under the microscope recently for their obvious lack of gender equity, particularly in light of the #MeToo movement. And though those companies aren’t setting specific targets or quotas for the number of female employees they need, the fact that USC Marshall has so many female MBAs coming up is quite attractive. “Companies appreciate the opportunity to increase their gender inclusion initiatives,” says Brostoff.
As for what the career center is doing to continue this positive gender parity trajectory for the school, they’ve been looking to create more and more opportunities for women in business. For example, they recently hosted a new case competition on women in business, and they’ve been able to engage more female alumni and female executives to come to campus.
We’ll continue to keep an eye on gender parity at USC Marshall and keep you updated as we learn more.
This article has been edited and republished with permissions from its original source, Clear Admit.
Gender Workplace Inequality Impacts Almost Half of All MBAs, Forté Foundation Says
While the Forté Foundation’s last study covered the impact of the MBA for women and minorities, the latest digs into gender inequality in the workplace and how MBA programs are working to address it. It would be nice to think that an MBA degree eliminates gender inequality in the workplace, but that’s not the case. Unfortunately, according to research conducted by the Forté Foundation and led by Michelle Wieser, Ph.D. and interim dean of St. Catherine University’s School of Business, work still needs to be done.
A survey of 900 male and female MBA alumni found that nearly six in 10 MBAs (59 percent) have said that they’ve “personally experienced” or “heard of” gender inequality in a past organization. In their current organization, that number drops to four in 10 (46 percent), but it’s still too much.
Overall, 76 percent of MBA respondents believe that gender equality has not been achieved in the workplace. When you talk to women, the number jumps to 82 percent, whereas for men, the number falls to 63 percent. Worse yet, minority women feel gender inequality to a greater degree with 87 percent stating that they feel it has not been achieved.
“This new research sheds light on whether we’re seeing improvements in workplace gender equality for MBAs, what issues impact women and men the most, and how business school helps to prepare alumni to address,” says Elissa Sangster, CEO, Forté Foundation, in a press release.
The good news is that we are starting to see improvements in the workplace according to personal MBA experiences. One-third of MBAs (33 percent) said they “personally experienced” gender inequality at a past employer, but in their current role, that number drops to just 18 percent.
One-third of MBAs (33 percent) said they “personally experienced” gender inequality at a past employer.
The Face of Gender Workplace Inequality
As for what this inequality looks like? For female MBAs, it typically falls into three categories:
- Unequal opportunities for career advancement or promotion
- Hostile work environment
- Unequal career opportunities (special projects, global assignments, etc.)
For male MBAs, gender inequality looks quite a bit different. In order of rank, the type of inequality men have “personally experienced” include:
- Gender preference in hiring and recruiting
- Hostile work environment
- Inadequate or lack of parental leave policies
How Workplaces Address Gender Workplace Inequality
So what are companies doing, if anything, to address gender inequality? Around one third (38 percent) of MBAs believe their organization is working to address gender inequality, and at a personal level, 30 percent of MBAs respondents have individually taken action to tackle inequality at their organization.
For companies, those actions include:
- A group or task force
- Safe reporting mechanisms
- Updated employment policies
- New training on gender inequality
- Considering gender inequality in performance expectations
On a personal level, MBA alumni have:
- Advocated, spoken up, and openly shared information
- Worked to change their organization’s structure or policies
- Focused on gender inequality during recruitment
- Lead or participated in a women’s affinity group
MBA programs are also working to address the gender inequality issue with 62 percent of the 2016-2017 graduating class stating that their business school helped them prepare for gender inequality in the workplace.
To read the full report about Forté’s research, you can find the original press release here.
This article has been edited and republished with permissions from its original source, Clear Admit.
Rochester Simon STEM-Designated MBA Paves New Path
As international applications at U.S. business schools drop, there’s more demand than ever for science, technology, engineering, and math disciplines in MBA curriculum.
Why? The new STEM designation program.
Created by the federal government to help with the shortage of qualified workers in the STEM fields, the program makes H1b visas far more attractive. If a student attends a STEM-designated education program and gains a STEM job after graduation, they gain an additional 24 months of optional practical training (OPT) time. This lengthens their stay in the U.S. from one to three years, which is very attractive to candidates and a solid reason for schools to consider the STEM designation. And many have.
Top B-Schools Get STEM-Designated
Dean Andrew Ainslie, University of Rochester Simon Business School.
Last year, Duke University’s Fuqua School of Business added a full-time MBA certificate in management science and technology management that was STEM designated. Two years ago, the University of Wisconsin School of Business achieved STEM designation for two MBA specializations: supply chain management and operations and technology management. The University of Massachusetts at Dartmouth also has a STEM designation for its Charlton MBA with a specialization in business analytics.
However, only one b-school has earned a STEM designation for its full-time MBA program no matter the specialization: the University of Rochester Simon Business School.
“We’re the most quantitative business school in the top 50, and that’s necessary to get this STEM certification,” says Dean Andrew Ainslie. “We’re in a unique position. We have an unusually high amount of math and technical curriculum. So, when we started looking at the percentage of our classes dedicated to STEM, it was obvious that we easily met the guidelines. A STEM-designated MBA just made sense for our students, and I don’t think anyone can follow us.”
How Simon Business School Achieved its STEM Designation
Moving to a STEM designation was reasonably easy for Simon Business School; it’s been built into the school’s DNA since the 1970s. Back then, the dean decided that the majority of the coursework should be focused on quantitative subjects—economics, statistics, and operations—and that’s held through until today.
“STEM designation is interesting; it’s all done internally. There are federal guidelines for what’s required, and we can be subject to audits, but we’re the ones responsible for overseeing our STEM-designated MBA program on campus,” says Ainslie.
This meant it was up to Rochester to take a look at their MBA curriculum and decide if they had the right percentage of math- and technology-based curriculum to fit the absolute minimum acceptable level. That level was, “at least 50 percent of the classes should have at least 50 percent STEM content. So 25 percent of all classes being STEM,” Ainslie explains. “We’re well above that.”
50 to 60 Percent STEM Curriculum
“We don’t have any faculty in soft areas such as HR or behavioral studies,” Ainslie explains. “That’s necessary to do this. All of our faculty voted positively on STEM designating in every area.” And while the school has started to add some curriculum in other areas—communications and experiential learning—around 50 to 60 percent of all their MBA content is STEM, far more than necessary to get the certification.
Even with variability in the second year when students can choose their electives, it was easy for Simon’s MBA program to achieve the STEM designation. “We are something of an unusual program in how analytics focused we are. Our branding is around analytics, and that shows,” says Ainslie.
And in cases where more STEM content was required, many of the faculty were happy to revise their curriculum to fit the designation better. One professor even decided to create an entirely new finance course that “uses R and Python programming to teach about finance through algorithms and coding,” Ainslie explains. “It’s a new course on technology and finance, and he wasn’t the only professor to do something like this.”
Simon Business School Meeting Recruiter and Student Needs Post STEM-Designated MBA
As for what’s happened at the school since achieving a STEM-designated MBA program, while it’s always tricky to tell what’s driving things, Ainslie believes things are going well. This year, MBA applications were up 7 percent, and while that might seem modest, it’s an increase that Simon Business School is quite happy about.
They’ve also recognized some changes in regards to recruiting and hiring. While they’re not changing who they go after or how, they are definitely making sure that all of their MBA candidates understand the advantage of STEM. “It’s not just the three years of a work visa, but business has become much more analytics-focused,” says Ainslie. “STEM skills are valuable in the marketplace. A STEM MBA is what companies are looking for.”
And that’s definitely true when it comes to Simon’s recruiters. Since their STEM designation, they’ve had many alumni and recruiters reach out to them about their STEM MBA and express their excitement.
“Technical skills are in high demand,” explains Ainslie. “But there are only 65,000 H1b visas every year and 2.3 million STEM jobs. The market is desperate to get those positions filled.” And Simon is in the perfect position to help.
You can learn more about Simon Business School’s new STEM MBA here.
This article has been edited and republished with permissions from its original source, Clear Admit.
Can IKEA and Instant Pot Teach Us About Competition? MIT Sloan Thinks So
People purchase IKEA furniture because it’s easy to put together. They don’t want to have to buy a drill; they want holes and pieces that easily fit together like Legos. In fact, according to Harvard professor Theodore Levitt, when someone buys a drill, what they want is what the drill can do.
That’s just one reason why MIT Sloan professor Sanjay Sarma believes that IKEA is on the cutting edge of business. While other companies are trying to sell solutions to outdated problems, IKEA has figured out how to solve a core problem.
“That’s what I call inversion,” Sarma says. “You’ve got to wrap yourself around the need and think outwards, rather than limit yourself to your product.”
So, what can IKEA and other companies teach about competition? Sarma provides insight from three recognizable brands who are mastering the art of inversion, and one that failed.
Amazon
When Amazon first got its start, they only sold books. Then, in 2007 when they came out with the Kindle e-reader, they had to compete with both Apple and Google rolling out similar products. But Amazon stayed ahead of the competition by creating a Kindle reading app that could be used on any device. They also unveiled products such as Audible (for audiobooks and podcasts) and the Amazon Echo smart speaker.
They identified the need bigger than books—reading—and fulfilled it.
Instant Pot
In 2009, Robert Wang created the Instant Pot, a do-everything cooking appliance that connected to Bluetooth. It changed the cooking experience, allowing users to remotely monitor their cooking and do everything from slow cook to pressure cook to steam and bake. “It’s stunning,” Sarma says.
The increasingly popular Instant Pot is a relatively new product, created in 2009 by Robert Wang.
Nestlé
Unfortunately for Nestlé, they missed the mark with their smartphone-connected espresso machine. They had an idea that people were in the business of coffee, but instead, it’s actually about the morning experience and taking a few minutes to prepare for the day. They missed the point because they missed what people were after.
Ford Motor Company
Ford tried the inverted approach in 2016 with the purchase of Chariot, a van shuttle service. The idea was to compete with rideshare companies. And while it didn’t work out, it still was a smart move because it indicated that Ford recognized that a need for transportation outweighed the need for a car. Now, Ford has announced the purchase of Spin, a scooter company that uses cell phones to locate available rides—and it shows that they are learning.
You can read the full MIT Sloan story here.
This article has been edited and republished with permissions from its original source, Clear Admit.
Top Deferred Enrollment MBA Programs Geared Toward Younger Candidates
Most of the time, full-time MBA programs require work experience and, overall, class averages of professional experience are close to five years. Rarely are programs open to younger candidates who are still pursuing their undergraduate degrees. However, that all changes when it comes to deferred enrollment programs.
These programs guarantee senior undergraduate students a spot at some of the top MBA programs in the world, two to five years after they graduate. This means that you graduate with a plan for the future and the time to figure out the details.
Recently, MIT Sloan announced a new deferred enrollment program, joining the ranks of other top b-schools including Chicago Booth, Columbia Business School, Harvard Business School, Stanford GSB, UVA Darden, The Wharton School, and Yale School of Management. Each of these programs is set up similarly and vies for top talent at undergraduate schools around the world.
How Deferred Enrollment Programs Work
“This type of program is for those who know that an MBA program is something they want to pursue, in the future. Not directly after their undergraduate degree (in most cases), but a couple of years later,” explains Alex Brown, an MBA admissions expert at Clear Admit.
Ambitious undergraduate students apply to b-school during their senior year and then receive a promise of a seat in a future cohort. Typically, students gain two to five years of work experience between acceptance and starting the MBA. Then, after their deferral, they join the same MBA cohort as the traditional full-time MBA.
“By applying and gaining admission, it helps reduce the uncertainty of their plan, going forward. So rather than entering an analyst program at a consulting firm, for example, with the hope of gaining admissions to a top MBA program after a few years, they can enter the analyst program knowing they have an MBA option already,” Brown says. “Of course, it doesn’t stop them from changing their mind, or pursuing other MBA options, and forgoing the early admission.”
These deferred enrollment programs are ideal for future leaders. Typically candidates have outstanding internships, strong academic credentials, and high test scores when they apply. “Also, these candidates are still typically early in their career arch when they do attend their MBA program. But, it makes sense if they are focused and really understand how the MBA program will help develop their career further,” explains Brown. “It’s good for candidates with focused career goals.”
Additionally, it’s important to note that deferred admissions MBA programs are designed to attract different types of students. They want candidates who might not typically have business school on their radar, but come from a STEM or humanities background. The key for applicants is to have a solid plan for the future and knowledge of how the MBA fits into that plan.
So, what are some of the top deferred enrollment programs and how are they unique?
Deferred Enrollment at a Glance
At a glance, most of the top b-schools offer very similar MBA programs geared toward younger candidates. All but Yale SOM are two years in length and place students in the same cohort as the full-time MBA. On the other hand, the Yale Silver Scholars program is three years in length with the first and third year being the same as the standard MBA and the second year in an extended internship. The reason behind this difference is that the program accepts candidates directly after their undergraduate career without any work experience.
The Yale Silver Scholars is one of the many MBA deferment programs offered at some of the best business schools in the world.
The rest of the programs encourage students to take two to five years off to gain work experience before they start their MBA. However, in some cases, work experience is not necessary if acceptance is during their final year (fifth year) of graduate school, such as is the case for Stanford’s deferral program.
“Generally, the students co-exist in the same program,” explains Brown. “Younger students might have more energy and enthusiasm, older candidates might have more experience and insights. It can become a great blend for an academic experience.”
Other stand-out differences include the fact that the Wharton Moelis program is only for University of Pennsylvania students. Sloan allows MIT students with an undergraduate GPA of 4.25 to avoid the GMAT, and Darden and Wharton both include scholarships for their deferred programs.
Finally, you can expect to apply to each of these programs in April, around the Round Three MBA application deadline, though Darden uniquely offers three application deadlines.
Inside the Top B-Schools with MBAs Geared Toward Younger Candidates
The differences between the programs lie in the characteristics and incentives offered by each. Here’s a deeper look at some of the top offers, who can apply, and how it works.
• Chicago Booth Scholars Program
The Chicago Booth Scholars program is for candidates with three or fewer years of full-time post-undergraduate work experience. It’s open to undergraduates from any institution in their senior year, granting applicants a two to four-year deferment before starting the MBA program. While working full time, students have the opportunity to engage with Booth, explore the community, travel, and whatever else is of interest. Applications are due in April and are similar to the full-time MBA application.
• Columbia Business School Deferred Enrollment Program
The Columbia Business School Deferred Enrollment program is open to undergraduate and graduate students who apply during their final year of schooling. Once accepted, you can take two to five years to enter the workforce and start the full-time MBA program when it’s right for you. Applications are similar to the full-time MBA program with slightly different short answer questions and are due in April. Once you decide to matriculate, you join the full-time MBA program.
• Harvard Business School 2+2 Program
Harvard’s 2+2 program is the best-known deferred MBA of its kind. Candidates apply in their final year of undergraduate or graduate school, then spend a minimum of two years (maximum of four) working full-time before they begin their full-time, two-year MBA program. This program is specifically for students working in the public, private, or nonprofit sector with an emphasis on STEM and humanities disciplines. The application is essentially the same online application for the MBA program; the application fee is simply lower. The admissions deadline is in April. Candidates enter the full-time MBA program once they have met work experience requirements.
• MIT Sloan MBA Early Admission
The MIT Sloan MBA Early Admission program is open to any exceptional undergraduate student. However, MIT students can avoid the GMAT with a GPA above 4.25. You can apply your senior year or directly after graduation in either your undergraduate or graduate academic career. Applications are due in April, and between acceptance and starting the program, candidates may seek two to five years of full-time work experience. Once matriculating, students enter the same MBA full-time program.
• Stanford GSB Deferred Enrollment
The Stanford GSB Deferred Enrollment program is open to undergraduate students who want to begin their MBA immediately after their senior year. However, students can defer for one to three years to gain work experience. You can apply during any of GSB’s three application rounds and can choose which year’s MBA program you’d like to enter. If you decide to defer for one to two years, you can apply for specific fellowships the year before starting your full-time MBA.
• UVA Darden FYSP
The UVA Darden FYSP program is open to undergraduate students in their final year and fifth-year master’s students. Candidates can apply in March, May, and August, and once admitted begin their professional journey. They ear two to four years of work experience and gain access to the Darden alumni community for mentorship, networking, and individualized career support. Then, once ready, candidates join the regular full-time MBA program with a guaranteed scholarship in hand.
• Wharton Moelis Advance Access Program
The Wharton Moelis program is a feeder program only for University of Pennsylvania undergrads. Students accepted into the program receive special professional development, career services, and access to the Wharton community such as annual retreats, mentoring, and a potential $10,000 a year fellowship. You apply senior year during Round 3 MBA admissions, and with evaluation similar to the overall MBA pool. You defer for two to four years of work experience and then join the regular two-year, full-time MBA program when you’re ready.
• Yale SOM Silver Scholars
The Yale Silver Scholars program was initially created just for Yale undergrads, but now recruits from an international talent pool. The difference with this program is that students start their MBA immediately after college graduation. You spend one year taking core curriculum before your full-time extended internship in year two. Then, your third year, you return to Yale SOM to complete your degree. Students integrate into the Yale SOM MBA, but have special programming and career development tailored to them. Candidates apply their senior year and fill out the same full-time MBA application.
This article has been edited and republished with permissions from its original source, Clear Admit.
London Business School on Gaining and Using Power
Power shapes every interaction. Powerful people get their way often, we’re generally nicer to them, and we listen to them. So how do you get power and use it? Power is a zero-sum game and complicated to discuss. However, for London Business School Associate Professor Ena Inesi, that’s what makes it so appealing to study.
