News Roundup – USC Fintech, New Georgetown McDonough Fellowships, and More
Let’s take a look at some of the biggest stories from this week, including a USC Fintech profile, plus more.
Diving Into Disruption – USC Marshall News
What is the future of fintech? USC Marshall and the Institute for Outlier Research in Business (iORB) held a conference last month to address that very question.
Marshall faculty, Ph.D. candidates, and industry executives gathered to explore the challenges, trends, and research needs that are critical to the rapidly expanding universe of cryptocurrency. Corporate organizers included Lexant Advisors and Berkeley Research Group.
Issues such as strategy and risk management, AI and machine learning, and the necessary convergence of traditional banks and fintech were all addressed at the conference.
Marshall Professor Larry Harris says, “The research question is: Given the existence of these problems, how do we see the translation of the solution from a manual system to an electronic system?… Any one of the these problems could be the source of five different dissertations.”
You can learn more about USC fintech here.
Move Over, Managers: Are Robots on the Rise? – Fox School of Business News
Will the robots be your bosses?
Two Temple University Fox School of Business doctoral students are exploring this question through research on the effects of automation upon management roles. With their focus on services such as TaskRabbit, Xue Guo, and Zhi Cheng are studying how the new power of the service laborer is impacting managers and supervisors.
The gig economy, the team has revealed, enables workers to become more selective in the jobs that they pursue. Being one’s own boss is now more than ever a real possibility, and apps like TaskRabbit eliminate the need for a supervisor to connect for instance, a housecleaner to a client.
Guo says, “After the entry of TaskRabbit … we observed a 5.5 percent decrease in first-line managerial jobs.”
One downside of the shift in autonomy, however, is that it is limited to those laborers who are tech savvy. The barrier, however, is easily conquered by the availability of the technology and the willingness to learn, Guo notes.
Four Ways to Become a More Self-Aware Leader – Kellogg Insights
Karen Cates, Adjunct Professor of Executive Education at the Northwestern University Kellogg School of Management, has recently proposed some important theories about how leaders can become more effective through some non-traditional methods.
Cates and her colleague, Clinical Professor of Leadership Brenda Ellington Booth are Executive Coaches. They have developed four strategies that bosses can practice to make them both more effective and more connected to their teams.
- Look beyond assessment tools (like Meyers Briggs tests and the like).
- Reflect upon what you can do better as a leader
- Don’t just change for the sake of changing
- Make self-reflection a daily habit
“Leadership isn’t just about taking assessments, attending seminars, or reading articles and filing them away in a folder on your desktop,” Cates says. “It has to be a living thing.”
New MBA Program Announces Fellowships in Entrepreneurship and Fintech – McDonough School of Business News
Georgetown McDonough has announced two new fellowships that will continue to push the school’s MBA grads to the top of their fields.
The school will welcome its first entrepreneurship fellowships this fall, and the inaugural recipient of the fintech fellowship will arrive in 2020.
“As Georgetown McDonough continues to attract more competitive candidates, we have been focused on launching new scholarships in specific interest areas, including entrepreneurship and fintech, and for those aligned with our commitment to social impact like AmeriCorps alumni,” says Shelly Heinrich, Associate Dean for MBA Admissions.
The fellows will participate in Georgetown Entrepreneurship, which shares knowledge on developments in business with the greater campus community; and the Center for Financial Markets and Policy which sponsors research and hosts events that address key financial market issues.
J.P. Eggers, NYU Stern Professor and Vice Dean of MBA Programs, Answers Our 5 Questions
In our latest installment of the MetroMBA “5 Questions” series, we speak with J.P Eggers, Associate Professor of Management and Organizations and the Vice Dean of MBA & Graduate Programs at the NYU Stern School of Business. Eggers talks about the MBA program’s new healthcare specialization, what students need to know before enrolling, and what makes NYU stand out when it comes to the business of healthcare.
1. Why Do You Believe The Time Was Right For NYU Stern To Introduce An MBA Specialization In Healthcare?
“Healthcare is an incredibly important part of the U.S. and global economy, and even more central to New York City given the hospital systems, pharmaceutical companies, and insurance providers within the broader region. As a result and in line with Stern’s continued push to diversify the opportunity set for our students, this became a priority to make our ambitious goals in the healthcare space something visible and public.”
J.P Eggers, Associate Professor of Management and Organizations and the Vice Dean of MBA & Graduate Programs at the NYU Stern School of Business
2. What Particular Kinds Of Applicants Do You Believe Are Right For This Kind of Program?
“This specialization is a good fit for applicants interested in the health system broadly. The curriculum options range from insurance markets to pharma strategy to health-tech, so the scope is ambitious. We expect that students with an interest in finance and marketing roles within health-related companies, or those interested in consulting or banking opportunities with a focus on the health sector, will be most drawn to the specialization.”
3. Is This A Sign Of More Unique MBA Specializations Coming To NYU Stern?
“We take our investments in specializations seriously, having been the first school to offer a FinTech specialization and having a broad range of specializations available. But we’ve found that many students have very specific interests when enrolling in an MBA program, and we will continue to explore and evaluate other opportunities.”
4. Since NYU Stern MBAs Can Study Three Specializations, What Are Some Other Specializations You’d Recommend For Someone Studying Healthcare?
“Since healthcare is a ‘vertical’ (industry) specialization, I expect that any of our ‘horizontal’ (functional) specializations would pair nicely. For those interested in pharma roles, I would think that corporate finance, marketing, or strategy would make sense. For those looking at health systems or consulting, I’d think operations may be a clear fit. And for those interested in health tech, our product management, analytics, and innovation specializations may make sense.”
5. Are There Any Unique Organizations In New York That Will be Part of the Healthcare Specialization?
“As part of Stern’s continued commitment to leveraging the amazing resources that NYU has to offer, we will work with both the NYU School of Medicine and the NYU Wagner School of Public Service on aspects of the specialization. The integration of the health-focused track in the Endless Frontier Labs means that we will utilize our connections to the NYC startup ecosystem. And we will continue to explore potential partnerships beyond those.”
To learn more about the NYU Stern MBA programs and specializations, head over to the official school website.
New Jobs at the Biggest Players in Telecom
Telecommunications firms help keep people connected. Did you know that 781 billion text messages are sent every month in the United States? That means that, on average, Americans send and receive about 94 text messages per day. More importantly, did you know that an estimated 240 million calls are made to 9-1-1 in the U.S. each year? In many areas, 80 percent of these calls are from mobile devices. These numbers put into perspective the importance of telecommunications, and the need for continued innovation in those fields. Continue reading…
Inside NYU Stern’s New MS in Quantitative Management
Getting into business from a non-business background always presents a significant learning curve. And while most MBA programs can help candidates no matter the experience, it can still leave you feeling behind.
Luckily, that may not be the case for NYU Stern’s newly launched online Master of Science in Quantitative Management (MSQM) program. Explicitly designed for non-business majors, it helps students grow business fundamentals and analytics, all from the comfort of home. It’s officially marked as the “first and only top-ranked U.S. business school to deliver an MS in Management online,” according to a recent press release. Continue reading…
Check Out Some New MBA Jobs at These Global Finance Firms
One of the most lucrative careers an MBA can pursue is in financial services. Newer MBA jobs in this field include risk management specialists, financial analysts and asset managers, as well as roles in related emerging sub-sectors like FinTech. For MBAs looking to break into this field, check out our list of five exciting new MBA jobs at these top financial services firms:
Continue reading…
The Big Payback: The Highest Paying Jobs for MBAs
Even in 2019, the search for the right MBA program is as unique as each student, and the reasons for applying are as varied as the programs themselves. Advancement in an existing career is an obvious motivation, as is breaking into a new industry or shifting one’s career focus.
One thing that all MBAs can likely agree with, however, is that earning potential is a leading incentive. This brings up questions about the most lucrative fields. Choosing the right concentration can be the first step toward achieving a position that will truly pay off. The following is a look at the current highest paying jobs for MBAs, as well as the majors that can open the necessary doors.
The Highest Paying Jobs for MBAs
Topping the list of the highest paid professions for MBAs in 2018 is strategic management. This specialization leads the way in terms of early to mid career salary, with salary averages beginning at around $125,000. Professionals with this degree and concentration earned $148,000 at the mid-point of their careers. Among the career functions for MBAs with a strategy focus are management consultant, senior strategy manager, senior product manager. Google, Amazon, PwC, and Intel are among the companies hiring for strategic management based positions.
Second on the list of highest paying MBA careers is technology management, which for many grows out of a background in IT or software development. According to Monster.com, tech management careers can start at around $113,000 per year, and advancement leads to a jump to upwards of $165,000. Roles such as senior project manager, vice president of IT, and IT director all emerge from a tech background. Companies such as Accenture, Deloitte, Cisco Systems, and HP all offer leading starting salaries in the IT management field.
Entrepreneurship also falls into the top three earning fields for MBAs. Starting salaries, according to data gathered from PayScale, hover around $100,000 per year, and reach up to around $135,000. Such roles as senior project manager and management consultant are options in the entrepreneurial field, as are various leadership roles in the growing fintech industry. Top hiring companies for entrepreneurship MBAs, according to PayScale, are Amazon, IBM, General Electric, and the Boeing Company.
A career in finance is the fourth of the highest paying categories for MBAs, with a starting salary hovering in the $100,000 range. Those with their sights upon chief financial officer, portfolio management, or financial management positions can hope to land jobs in this arena with high earning power. New York Life Insurance, Fidelity Investments, and Vanguard are currently seeking MBAs for various finance positions.
Along with strategy, tech management, entrepreneurship, and finance, marketing ranks among the most lucrative fields for MBAs. While some marketing jobs do not require an MBA, one can see a wider, more profitable range of options with a specialized study in marketing. Upper level marketing positions can start at around $80,000 per year, and can grow well above $120,000. Current listings for MBAs with a marketing focus include Dell, Microsoft, and, of course, Amazon.
