Look Out for These Boston Internships
If you’ve read MetroMBA’s look at how summer internships play a crucial role for MBA students, you’re probably already familiar with the many benefits of interning during your MBA career. Between forging professional connections, gaining hands-on experience, and top tier salaries, MBA students have lot to gain from seeking out these opportunities. Boston internships manage to stand out, in particular, because of a wealth of excellent business school options.
Of course, the internship model is a win-win for all participants: students get the opportunity for professional experience, and companies get to work alongside emerging talent in the business world. Companies across the U.S. actively search for and recruit this talent. The need and capacity for interns, however, can vary from organization to organization. As students begin their search for the perfect internship, and can be important to take note of what companies are the biggest internship employers in their area.
Boston Internships for MBAs
Anheuser-Busch InBev (AB InBev), created ten years ago through the merger of Anheuser-Busch and InBev, is one of top hirers for MBA students in the Boston region. A Belgian-Brazilian beverage and brewing company, AB InBev has offices throughout the world, currently employing around 183,000 people. Given the global nature of their product, the company sponsors MBA and internship opportunities with a focus on global business. Each summer, the company offers a 10-12 week summer internship at their New York office, which often results in getting hired into the company’s Global MBA program—a one year high potential leadership program that prepares participants for quick career growth.
Anheuser-Busch InBev was one of the top hirers for MBA internships at both the Harvard Business School and the Sloan School of Management at MIT, two of the most highly ranked business programs in the world. At MIT Sloan, AB InBev employed nine members of the Class of 2017 as summer interns.
Founded 173 years ago in London, Deloitte remains one of the world’s top professional services networks today, providing tax, consulting, enterprise risk and financial advisory services throughout the world. As of 2016, Deloitte was recognized as the 6th largest privately owned organization in the United States.
With roughly 263,900 employees worldwide, it’s probably no surprise that Deloitte offers plenty of Boston internships. Deloitte Consulting hired six MBA interns from MIT Sloan for the summer of 2017, and also made the lists of top employers for F.W. Olin, Harvard, and Suffolk University’s Sawyer Business School.
The vast number of student interns employed at Deloitte may be a reflection of their vast internship program, which include programs like the Deloitte Consulting Immersion Program, Deloitte Women’s Leadership Launch, and the Advanced Degree Veterans’ Forum.
At Boston University’s Questrom School of Business, 108 different companies hired 140 students for internships in 2018. CVS Health, also an employer for MBAs from Harvard Business School and Babson College’s F.W. Olin Graduate School of Business, hired five students from Questrom for summer internships, making it the number one employer for that school.
CVS Health Corporation, headquartered in Woonsocket, Rhode Island, has grown since 1964 into a top Fortune 500 company with more than 246,000 employees and $177 billion in annual revenue. In December 2017, the retail and health care company also made headlines when it acquired health insurance mega-company Aetna for $69 billion.
CVS Health offers a number of MBA internship programs for MBA students, depending on their interest within the field. Among them are the CVS Year-round internship, Spanish Immersion Summer Internship, and Specialty Clinical Innovation Internship. CVS also believes in students growing their careers with the organization, which likely means greater opportunity for an internship to turn into a long term career.
With the growing popularity of jobs within the healthcare administration field, it should come as no surprise that one of the top employers for MBA internships in Boston is the Boston Children’s Hospital. The hospital, founded in 1869, has been ranked by the U.S. News & World Report #1 in eight of ten clinical specialties. For 2018-19, it was named the country’s number one pediatric hospital.
The hospital is affiliated with Harvard Medical School, so it’s likely no surprise that they are a top employer of MBA students as well, learning about the other side of health care. They are also one of the top employers for MBA students at Northeastern’s D’Amore-McKim School of Business, which requires students to pursue a corporate residency for six months of its 24-month full-time MBA program.
Top MBA Internship Opportunities in the London Metro
As a center for global commerce and business, London is one of the top cities in the world to earn an advance business degree and secure an MBA internship. Continue reading…
Lehigh MBA Success, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Extraordinary Outcomes for Lehigh’s 1-MBA and M2 Programs – Lehigh College of Business and Economics
This past spring saw Lehigh graduates from the College of Business and Economics’ inaugural 1-MBA (1-year full-time MBA) cohort, as well as the third cohort of its M2 (MS in Management) complete the transition from the classroom to the boardroom.
Employers like Tesla, QVC, and Hubspot snatched up 1-MBA graduates while Amazon, Bloomberg, IBM, KPMG, and more extended offers to nearly 80 percent of M2 graduates. This statistic is very much in line with figures from the 2017 graduates of the M2 program—96 percent of which were employed within three months of graduation by the likes of Deloitte, Vanguard, IBM, and Amazon.
You can read more about the recently Lehigh MBA success here.
School of Management Students Provide Support to Businesses Looking to Export – Binghamton SOM Blog
This semester, Binghamton SOM students took part in the six-month ExportNY “Launch into the Global Marketplace” program, a unique offering that adjunct assistant professor founding director of the Center for International Business Advancement (CIBA) Elena Iankova developed to help give “regional businesses [the] knowledge and resources needed to export their products.”
The basic idea that underlies the “Launch into the Global Marketplace” program is that students research, consult, and support the export plans of participating businesses. Iankova explains: “It’s a two-way street. The students provide the companies research assistance and consultation, and the companies provide the students real-life experiential learning opportunities, helping them develop their management research and consulting skills.”
The program is a partnership between the CIBA and the Alliance for Manufacturing & Technology (AM&T), the Global New York Program of Empire State Development, and the U.S. Commercial Service and the Small Business Administration.
One of the participating companies, Awestruck Ciders, “produces hard ciders from NY state apples” and hopes to export its product to the South African market. Co-founder Patti Wilcox writes: “We think it’s important to the local economy to expand our view of the market on a global scale. We’re fascinated by this idea of an international cultural exchange, and we think doing so commercially is very valuable.”
You can read more about the program here.
The Endless Scroll: How to Tell if You’re a Tech Addict – PC Mag
Just recently, PC Mag dropped its lengthy article “The Endless Scroll: How to Tell if You’re a Tech Addict,” written by Rob Marvin.
In the piece, Marvin highlights Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked from NYU Stern School of Business professor Adam Alter, who doesn’t mince his words when it comes to tech addiction.
“There’s a myth that there’s something different about people with addictions from people without addictions,” Alter explained in his interview with Marvin. “Right now, if you are a person who doesn’t have an addiction, does that make you in some qualitative or categorical way different from people who do? The more I’ve studied this, the more I realized that just isn’t true.”
“Right now, if you are a person who doesn’t have an addiction, does that make you in some qualitative or categorical way different from people who do? The more I’ve studied this, the more I realized that just isn’t true.” – NYU Stern professor Adam Alter, interviewed by PC Mag / Photo via PC Mag
You can read more from Marvin’s excellent piece, out now, over at PC Mag.
MBAs: Here are the Los Angeles Internship Opportunities You Need to Know
If you’re looking for lots of sun, beautiful beaches, and a bustling business headquarters, Los Angeles is likely your city. So, it’s no surprise that it’s also a top location for earning an MBA. Not only is Los Angeles home to many top business schools—such as UCLA’s Anderson School of Management and the USC Marshall School of Business—but it’s also a central hub for tech startups and Fortune 500 companies.
Of course, this means is that Los Angeles is also an excellent city for MBA internships. There are a wealth of opportunities and companies where MBAs can start their careers. We’ve outlined some of our favorite Los Angeles internship opportunities below.
Los Angeles Internship Opportunities You Need to Know
21st Century Fox is an American multinational mass media corporation headquartered in New York City, but with a large office in Los Angeles. It’s the fourth largest media conglomerate in the U.S.
Both USC Marshall and UCLA Anderson have sent MBA students to intern at 21st Century Fox in the last year, according to their latest employment reports. These MBA students have the unique opportunity to participate in a summer internship program, which typically includes 20-25 hours per week of work.
More than 600 internships are offered each year in a range of divisions from film to television and sports. In addition, 21st Century Fox interns can work in a broad range of departments from marketing to finance, production, information technology, legal, digital, human resources, and business development and strategy.
Headquartered in Thousand Oaks, California, Amgen Inc. is a multinational biopharmaceutical company with a keen interest in MBA talent. Last year, Amgen hired 10-15 students out of UCLA Anderson, according to the school’s employment report. They were also a top hiring company at USC Marshall for full-time employment and internships.
As the world’s largest independent biotechnology firm, Amgen is the ideal company for MBA candidates interested in working in the biotech industry. MBA internships are offered in a variety of fields including finance, operations, marketing, or commercial leadership. According to the Amgen website, internships for first-year MBA students serve as the primary source of talent selection for the company’s full-time positions.
Located in El Segunda, CA, Mattel Inc. is one of the most well-known toy manufacturing companies in the world. They’re best known for brands such as Fisher-Price, Barbie, Hot Wheels, and American Girl. In 2017, the UC Irvine Merage School of Business sent six MBA students to Mattel for an internship opportunity and another four MBAs were hired full-time, according to the latest employment report.
Mattel Inc. offers internships for both full-time and part-time students interested in working in their marketing, finance, supply chain, or human resources divisions. Their Los Angeles internship programs are typically 12 weeks in length and often lead to full-time employment offers.
On Glassdoor, one MBA intern spoke about their experience at Mattel saying, “Mattel attracts diverse talent for various roles with serious intent to hire. Mattel’s summer internship is full of events and speakers that are specifically set up to welcome and educate interns, and the internship provides a great way for MBA students to try out the company before coming on full time.”
It won’t be surprising to hear this, but, Deloitte has a considerable presence in Los Angeles, CA; so it’s no wonder that the company hires many MBA students from the top business school programs in the area. Last year, Deloitte was the third largest employer of MBA students at UCLA Anderson. So, it’s no surprise that Deloitte made Fortune’s list of “25 Top MBA Employers.”
Internship opportunities vary at Deloitte with many options in consulting with focuses on either strategy and operations or business technology. Other internship opportunities include a business analyst summer scholar as well as a tax consultant internship. Depending on an MBA student’s interest and background, they can join various teams at the company.
In 2012, CNN Money ranked Nike as the 9th best company for MBAs to work for, and in the six years since, not much has changed. Headquartered in Portland, Oregon, the company looks to Los Angeles for many of its internship opportunities, which is currently one of the best ways to gain full-time employment at the company.
Nike internships are offered in almost every division of the company from technology to finance, supply chain, merchandising, legal, marketing, procurement, analytics, and more. MBA students who are chosen for a Nike internship will find themselves working on a team project over the course of 12 weeks with a project pitch at the end of the summer. There are also social events throughout the summer. UCLA Anderson and USC Marshall both sent MBA students to Nike in 2017.
The Highest Paying MBA Internships You Can Find
An MBA education can open the door to an astounding number of lucrative opportunities before you’ve even completed your degree. Many MBA interns are earning hourly wages unfathomable to the larger majority who spent their undergrad internships restocking break rooms and memorizing coffee orders, all for a whopping $0 per hour. Below, we’ve laid out the highest paying internships in some of the most common industries for MBAs.
Stats for MBA interns on Management Consulted dwarfed most other intern salaries. Though the reality of management consulting may lack the seedy glamor portrayed by Don Cheadle and Kristen Bell in House of Lies, these numbers are certainly compelling enough on their own to keep the attention of ambitious young interns.
Deloitte, a consistent top hirer of MBA’s according to Fortune, may be a top destination for MBA interns as well, if compensation is any indication. In 2016, MBA’s at Deloitte make an average of $11,380 per month for a ten-week internship, with the opportunity to receive full second year tuition reimbursement for returning interns. Depending on their goals, interests, and professional backgrounds, interns join a client service team in Deloitte & Touch LLP, Deloitte Tax LLP, Deloitte Risk and Financial Advisory, or Deloitte Consulting LLP.
Management Consulted put the average MBA intern salary at A.T. Kearney at a staggering $11,500 per month. A.T. Kearney offers a ten-week summer internship, during which interns will have unique experiences, such as a three-day opportunity in the middle of the summer to converge in a single location with all of the season’s interns. During these three days, students have the opportunity to network, socialize, and learn about the different facets of the company.
Outside of consulting, there are plenty of opportunities for MBA interns. It is no secret that some of the highest paying jobs out there are in tech. Luckily, there is a sizeable demand for MBA’s at tech companies.
Despite the recent, um, controversy surrounding Facebook’s security practices, the social networks interns are making out well. Facebooked topped Glassdoor’s list of Highest Paying Internships in 2017, with a median monthly salary of $8,000. The 12-week business internships offer frequent Q&A’s with higher-level employees and the opportunity to tackle real problems that face the social networking platform.
It would be remiss to talk about MBA’s in tech without mentioning Amazon, which is fast becoming one of the largest MBA tech recruiters. With a median monthly pay of $6,400, Amazon also made Glassdoor’s list of Highest Paying Internships in 2017. Keep in mind, this number is the median for all Amazon interns, and does not factor in MBA education, which would likely yield a much higher number. Interns are assigned a strategic project that provides the opportunity to contribute to solving a real business issue. Additionally, an internship with Amazon is often a foot in the door to a full-time career with the internet retail giant. Amazon’s website encourages MBA’s to apply, stating:
“You will have the autonomy to think strategically, make decisions, and drive significant impact to the customer experience and the business. To be successful, you must be passionate about the business, flourish in ambiguity, and demonstrate nimble leadership.”
Two Sigma Investments, a relatively young investment management company, has been getting a lot of press for its generous internship compensation. According to Business Insider, the $40 billion hedge fund, which started in 2001, grew 400 percent from 2012-17. The 10-week internships can pay upwards of $10,500 per month. Internships at Two Sigma are primarily in STEM, and MBA’s with an interest in Quantitative Research might find this program particularly rewarding.
How Virtual Work Can Learn from the Virtual Classroom
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How do you connect a workforce spread across different cities, countries and continents?
Finding the answer to that question is among the biggest challenges and opportunities for modern organizations—businesses, non-profits and academic institutions alike. Virtual collaboration and telecommuting are nothing new, but the technology that supports these practices is evolving faster than it ever has before. In fact, the first trend in Deloitte’s 2017 Global Human Capital Trends report indicates that the constant pressure to adapt to digital transformation and create “the organization of the future” is the most important challenge facing executives around the world.
Virtual collaboration is rapidly becoming important in the academic world as well, with leading schools like USC Marshall offering mostly online education programs, including its top 10 online MBA program. These programs challenge and teach students to learn, collaborate and communicate more effectively in virtual classrooms as well as in business settings.
Deloitte also makes the point that individuals usually adapt to technology quickly, while organizations take longer to adapt to changes in technology. As a result, there is considerable demand for business leaders and professionals who are not only familiar working and collaborating within virtual environments, but who can also lead and manage virtual teams.
Of course, this is more than just a distance problem. Global businesses face culture and time differences, and many offices may even operate with different technology and processes from each other. The organizations that pull ahead in the new digital age will be those that can continuously look forward to how they can effectively utilize technology to overcome distance, cultural and various other barriers to true collaboration in a virtual space. Fortunately, many of the technology limitations that inhibited remote collaboration are disappearing.
The Future of Virtual Collaboration: Already Here in the Classroom
There is still a lot of room for both software providers and businesses to grow. Although the future of virtual collaboration looks promising, the best practices for using virtual collaboration tools may not be where you think: Instead of businesses, it may actually be universities leading the charge.
In 2017, for example, the USC Marshall School of Business collaborated with IBM to teach students virtual collaboration skills. Students were given a group project with one big caveat: They would never meet other members working on the project in person. USC worked with IBM to create an online collaboration platform, so that students could work together remotely.
“Once we moved to a single collaboration platform using the IBM Connections tool … all of a sudden, they’re in this single space,” said Peter Cardon, Academic Director and Professor at the USC Marshall School of Business. “They’re integrating their work. There’s this level of accountability. And they can see what one another are doing to really contribute to the project, and that dramatically improves their ability to produce really quality results.”
According to Cardon, the success of the initial project created demand for similar initiatives designed to encourage collaboration among students across the world and from different cultures. This in turn shows how the skills taught by these initiatives as well as learnt intrinsically in top online MBA programs are critical for solving the challenges that inhibit the adoption of enterprise virtual collaboration.
USC’s Online MBA (OMBA) program provides additional examples of how virtual collaboration can be used successfully to solve real-world business problems. Courses are structured so that students participate in two live video sessions each week; this gives them opportunities to ask questions and more actively engage with faculty. The program also includes a one-unit course that focuses entirely on virtual collaboration, including best practices and technologies for enabling successful collaboration in the workplace. According to Miriam Burgos, Academic Director of the OMBA program, students are given opportunities to reflect on how the skills they learn through virtual collaboration influence their leadership and business expertise.
Students in the online MBA program must also work together to analyze and solve real-world business problems. In one of the first semester-long group projects, for example, students analyze data-driven business strategies. All the data and analytics for these projects are done and coordinated remotely by students from around the world. Each group must then virtually present their findings at the end of the semester.
“It’s incredible to see … how students from all over the world—from the U.S. to England to Dubai—are actively networking in an online environment,” Burgos told MetroMBA. “The live class sessions get them engaged with the coursework and each other, and they can take these skills outside the classroom. Students often tell us that what they learn in the classroom makes them stronger leaders in their workplaces … they start seeing an immediate impact on their careers.”
What Businesses Can Learn from the Virtual Classroom
Encouraging the use of virtual collaboration in business settings has historically been an uphill battle. For instance, many collaboration tools face limited user adoption because they do not offer a seamless transition between employees’ workflow and the collaboration tool; this will change as pressure mounts on businesses to embed collaboration functionality with existing tools and processes. Furthermore, a new generation of business professionals will have already gained proficiency in leading and managing online, collaborative projects; these professionals will be able to shift business processes to be more accommodating of virtual collaboration. At the same time, enterprise virtual collaboration will evolve due to several key industry trends, including:
• Communication channel variety: The number of potential channels for collaboration will grow. Some employees shine in face-to-face meetings, but others will shine most in virtual environments. The businesses that master digital transformation will provide a mixture of synchronous collaboration, such as real-time video meetings, and asynchronous collaboration tools, such as file sharing or cloud-based content management.
• Collaboration integrated with content and workflow: The best collaboration tools are only effective if users adopt them. This will push businesses to seamlessly integrate collaboration tools with project management and workflow tools so that collaboration can take place within existing business process and tools.
• Spontaneous Virtual Collaboration: One of the central challenges of virtual collaboration in the past is that it is difficult to mimic in-person experiences like spontaneous brainstorming sessions around the water cooler. Technology integration will help facilitate this; for instance, when chat and video call functionality is integrated with file sharing, it is much easier to discuss designs, plans or other documents while making changes in real time.
In the long-term, businesses will also have access to technology that dramatically alters the virtual collaboration landscape by placing emphasis on more realistic immersion and connection between employees. This is already starting to take shape in technology solutions. For example, platforms such as Cisco Spark VR allow teams to collaborate in full virtual reality environments. Many of these solutions remain in early access or beta testing stages. The solutions’ potential to connect employees across the world, however, is limitless. In the case of Cisco Spark VR, the platform creates virtual rooms where people can meet to share 3D images and documents.
Yet, the potential for these platforms extends far beyond meeting in VR spaces. Imagine a future where artificial intelligence makes video calling remote employees a seamless experience, with AI providing virtual name badges and getting rid of background noise automatically. It may be a while before we see full VR conference rooms, but if you want leaders who are at the cutting edge of virtual collaboration, it’s time to look inside the virtual classroom.
