Stanford Reigns, Dartmouth Surprises in New Bloomberg MBA Rankings
For the second-consecutive year, the Stanford Graduate School of Business earned the top spot in Bloomberg Businessweek’s annual U.S. business school ranking. However, a new entry near the top of the ranking may be a slight surprise, with the Dartmouth College Tuck School of Business claiming the second spot.
Continue reading…Chicago Booth, Harvard Top The Economist’s 2019 Full-Time MBA Ranking
The Economist 2019 full-time MBA ranking is finally out, with the University of Chicago Booth School of Business—once again—cracking the top spot. This marks the second consecutive year the school stayed on the top of the list.
Continue reading…Outside the MBA: The Highest Paying STEM Management Degrees
STEM is everywhere. You hear about it constantly when it comes to career fields. The U.S. Department of Labor predicts that there will be more than 10.5 million jobs in STEM by 2028, but not enough employees to fill in the gaps. It’s partially why STEM has become increasingly important in education.
Continue reading…Lead Business Schools Meet to Discuss Diversity in Management Education
For today’s business world, “diversity” isn’t just a buzzword; it’s the reality. Firms are increasingly creating international teams, pushing for gender and racial balance, and advancing LGBTQ equality. That’s why leading scholars from ten of the top business schools in the world—including INSEAD, Columbia Business School, NYU Stern, and Harvard Business School—came together to have an in-depth conversation around the importance of diversity in management education.
Continue reading…A Columbia Business School Professor’s Quest to Find Efficiency in Affordable Housing
Working in the heart of New York City, just blocks away from some of the most valuable real estate in world, is a constant reminder of the problems with affordable housing. Stijn Van Nieuwerburgh, the Earle W. Kazis and Benjamin Schore Professor of Real Estate at Columbia Business School, address the issue first hand in a recent study, asking whether affordable housing can become more efficiency in an increasingly urbanized world.
“Can we improve the efficiency of the affordable housing system?” Van Nieuwerburgh asks in his latest study, “Affordable Housing and City Welfare.” Van Nieuwerburgh co-authored the study alongside Jack Favilukis of the Sauder School of Business at the University of British Columbia and Pierre Mabille of the Stern School of Business at New York University, which pivots the conversation away from a strictly cost conversation to one of social insurance.
“A lot of the previous models that have thought about these questions, haven’t really modeled risk, risk aversion, and insurance against risk,” Van Nieuwerburgh says. “That is what’s new here; it’s a finance perspective on the world.”
“Van Nieuwerburgh notes that people first sought out rent controlled or rent stabilized units when it was appropriate for their economic situation; but then over time, their careers progressed and they began to earned more. The research demonstrates that these very same renters tend to stay in the same unit when they can afford a market-rate unit, effectively taking the place of someone who earns less.”
A proposition from Van Nieuwerburgh in the study is that of a mean’s test, requiring applicants for an affordable housing lottery to earn within 30 percent of the proposed median income. Which, if successful, would allow needier applicants to earn higher priority, rather than keep tenants in housing built for people in lower income levels.
“That means that really needy people are going to get these units,” according to Van Nieuwereburgh.
“We can add everybody up, and we can see whether society is better off or not under this new policy,” he says. “The reason we’re better much off with this more efficient housing system is because poor people now get access to affordable housing units that they didn’t before.”
A primary difficulty with current proposals and changing rent laws, Van Nieuwereburgh argues, is that developers will have less economic incentive to build affordable housing if the demand increases while the cost of land in cities like New York continues to climb. His model also entails avoiding tax increases on wealthier residents, arguing that it disincentivizes upper-class earners and may not be more beneficial than voucher programs. However, despite the fiscally conservative framework, the study also advocates for potential solutions like “upzoning,” which can create more density in areas with tighter development laws.
You can read more about the affordable housing study, which was inspired by Mathew Desmond’s book Evicted, here.
Top 5 Paying MBA Careers: Consulting
Consulting still is one of the top career choices for MBA graduates. Part of the reason is because consulting firms are very open to recruiting MBAs from a wide range of backgrounds.
According to the 2018 Prospective Student Survey conducted by the Graduate Management Admissions Council (GMAC), consulting is the most sought-after postgraduate industry. An estimated 34 percent of applicants consider consulting their career of choice.
Salary is a crucial factor in that choice. Although consulting salaries depend on a lot of factors—time, location, office, and position, to name a few—the pay is relatively high across the board.
Below, we’ll break down the highest paying jobs in consulting, where to work to earn the most money, what MBA programs are best for the career, and the top companies to work for. Continue reading…
