Top MBA Recruiters: T. Rowe Price
T. Rowe Price Group, founded in 1937 by Thomas Rowe Price Jr., is a leading global asset management firm offering services to individual clients as well as institutions and financial intermediaries.
Headquartered in Baltimore with offices in 47 countries, recent MBA graduates with an eye toward investment would do well to consider a career at T. Rowe Price.
Why MBAs Love T. Rowe Price Group
T. Rowe Price’s commitment to responsible corporate stewardship and social engagement with their immediate communities has earned them respect from a lot of its peer companies. Its been recognized by Fortune World as one of the world’s Most Admired Companies in Securities and Asset Management, and one of Forbes America’s 50 Most Trustworthy Financial Companies.
Salaries for MBA grads can greatly vary at the firm. According to PayScale data, senior business analysts earn an average annual salary of $88,524, with max compensation as high as $120,000. Financial consultants—a position more readily available for entry-level employees—earn an average annual salary of $62,792. Overall, SimplyHired data indicates that MBA grads can expect to make around $67,471 per year, with the top 25 percent of earners making over $100,000.
Additionally, T. Rowe Price offers both short-term and long-term benefits for its employees. In the short-term, it offers valuable tuition assistance to employees completing a degree program. In the long-term, it offers retirement plans, investment plans that includes matching contributions, and life insurance plans. It stresses the importance of a healthy work/life balance, reinforced by benefits like extensive health care coverage, family support for working parents, various wellness initiatives, and passes for local recreational attractions. T. Rowe Price also offers PTO and matching donation programs through their Workplace Giving Program, boasting more than 40,000 hours volunteered by associates in 2018 and $11 million dollars donated by associates in 2017 through the program.
Life at T. Rowe Price
T. Rowe Price has earned a reputation for their ability to facilitate workplace morale. In 2017, Forbes named it one of the best mid-sized firms in the U.S. for its ability to keep employees feeling satisfied and well-compensated. Pensions & Investments named it one of the “Top 50 Best Places to Work in Money Management“—a distinction it was also awarded in 2015.
An important component of these achievements is T. Rowe Price’s work with respect to office diversity. In 2016, the Anita Borg Institute named it one of the Top Companies for Women Technologists, boasting 44 percent women in its total global workforce. In 2019, it was named one of the “Best Places to Work for LGBTQ Equality” by the Human Rights Campaign. T. Rowe Price also seeks to improve their diversity through initiatives like WAVE, which facilitates the development of talented women; PRIDE, which focuses on the LGBTQ+ community; and MOSAIC, focused on building ethnic diversity.
Landing a T. Rowe Price Career
Associate positions at T. Rowe Price require the following from a prospective employee:
- Strong analytical skills
- The ability to communicate and work with employees from different departments
- Strong relationship management and collaborative proclivities
- A college degree
Additionally, T. Rowe Price has a few important preferred qualifications. Of course, high on the list is either the completion of an MBA program—or progress toward the MBA degree.
As mentioned above, the company sometimes offers tuition assistance for employees who are in the process of completing a graduate program. Another attribute that will help you stand out is experience the field, especially in the given area that the position for which you are applying.
Current T. Rowe Price Career Openings
Associate General Manager, Investments – Baltimore, MD
For applicants with at least eight years working experience in financial services, corporate strategy, and/or management consulting, this might be a promising job opportunity. A CFA or MBA will also give you a leg up on the competition. This job focuses on big picture investment strategies and presents these ideas to employees and stakeholders.
Associate Portfolio Analyst, Equities – Baltimore, MD
For applicants with financial analysis chops, this position might be ideal. In this position, one would assist a team of portfolio specialists to create strategies for investment. This is also ideal for those in the process of completing their MBA or CFA.
Pick Your City: Should You Get an MBA in Charlotte or Atlanta?
Where should you go to school in the Southeastern U.S.? There are many different options, so it depends on what you’re looking for. To make the best choice, you need to compare the cost of living of each city, the MBA programs available, the job opportunities, and the benefits of each area.
To help you out, our “Pick Your City” series breaks down two similar locations to help you make the best decision for you. In this article, we’re comparing Charlotte, NC and Atlanta, GA to see what each offers. Continue reading…
5 Questions with the MBA Admissions Team at UIC Liautaud Graduate School of Business
In our latest installment of the MetroMBA “5 Questions” series, we speak with Alanna O’Connor, Assistant Dean for Student Recruitment for the Full-Time MBA Program at the University of Illinois at Chicago Liautaud Graduate School of Business. O’Connor talks about the many new opportunities, programs, and events taking place at Liautaud this year and beyond. She also gives advice for candidates interested in applying to the MBA program, insight into outside-the-classroom opportunities, and her pick for best Chicago deep dish pizza.
Are there any new programs, centers, faculty members, or events you can talk about?
“Under Dean Michael Mikhail, our faculty body has grown 35 percent. In fact, more than 50 percent of our tenure-track faculty have been hired since he assumed the deanship in 2012 and many have been quoted as experts in national publication including WBEZ (Chicago’s NPR affiliate), The New York Times, Harvard Business Review, Forbes, and The Chicago Tribune.
The UIC Business Institute for Leadership Excellence and Development (iLEAD) is disrupting traditional classroom notions. This one-of-a-kind experience gives students a competitive edge with teaching professional development courses incorporating innovative approaches such as improvisation.
This spring UIC Business launched a new master of science degree program in supply chain and operations management, or MSSCOM. This program is exemplary of a curriculum designed for tomorrow’s supply chain professional. Led by our extraordinary faculty, the MSSCOM offers students a core set of courses in operations management, data, and supply chain management and expertise in the skill set employers seek.
In terms of events, connecting with our campus to determine fit is an essential part of a prospective student’s B-School research. UIC Business offers information sessions and lunch and learns, Open House events, webinars, classroom visit opportunities, and the chance to connect one on one with a recruitment advisor, current student, or faculty member. Understanding our prospective students have busy lives, we offer many opportunities to meet in person, by phone or virtually.”
What is one area of the UIC Business Liautaud Graduate School MBA student experience that you want applicants to pay attention to?
The Liautaud Graduate School of Business at UIC is located just several blocks from the picturesque Chicago River.
“UIC Business is just steps away from Chicago’s business district, which is an asset for our students in terms of internships and jobs. But our faculty are preparing students to compete in a global market through a quantitative approach to business that ensures our students have not only the management skills they will need, but also the facility and comfort with data and analysis to be competitive hires and successful 21st century business leaders.”
What opportunities, outside of the classroom, does the UIC Liautaud Graduate School offer MBA students to get hands-on experience?
“Through the MBA Capstone project, MBA students partner with local businesses and organizations and use the analytic and problem-solving skills they have developed to address the enterprise level challenges of firms. Our dedicated Business Career Center regularly hosts firms for visit days as well as Career Fairs, and Career Advisors provide one-on-one personal support in resume development, mock interviews, and job searches. Speaker series like our Leadership Breakfast, Executives in the Boardroom, and Alumni 4 U give students the chance to learn from and network with business leaders.”
What advice would you give an MBA candidate interested in the UIC Liautaud Graduate School of Business?
“Graduate school is an investment of your time and energy, and the return on that will be measured for you personally and professionally. UIC Business is an AASCB program located in Chicago’s top public research university. With our connections to Chicago’s business world, prime location, faculty experts teaching in-demand subjects, and thriving network of alumni, your life will be enriched with the knowledge and skills you gain and the people you meet who are interested in helping move your career forward. Get involved beyond the classroom with student organizations, utilize Business Career Center services, go to our special speakers and events series, and make time for fun at UIC Business sponsored social networking opportunities.”
Where can you get the best Chicago pizza near campus?
Chicago’s famous (and infamous) Giordano’s deep dish pizza is near the Liautaud campus.
“This can be a sensitive question because there are so many options depending upon how you like your slice, and whether you want to dine-in or carry-out. There are over 900 spots to get a slice of pizza within the UIC zip code. But if we had to pick just one true Chicago pizza, our choice for best would go to Giordano’s for its taste and authentic Chicago style.”
Columbia Professor Offers Advice on #MeToo Fallout for Female Leadership
The #MeToo movement has been a good thing, bringing to light many gender issues regarding sexual harassment and assault. And, it’s been particularly valuable for women in the workplace.
Unfortunately, while most of the response to the #MeToo movement has been positive, it has triggered a few unexpected negative consequences. As a Forbes article recently explains, there’s a “potential threat to women’s advancement to senior leadership, as some men have become wary of forging professional relationships with female colleagues.”
Men Are Worried About Harassment
Since the #MeToo falloout, 82 percent of men have admitted to being worried about false claims of harassment—more than any other gender issue in the workplace. Worse still, that fear has resulted in half of all male managers feeling uncomfortable mentoring, socializing, and working alone with women, revealed a LeanIn survey. Now, senior men are three times more likely to hesitate to ask a junior-level woman to a work dinner than a junior-level man.
Fixing the Problem
Unfortunately, these negative responses to #MeToo could slow the progress for female leadership, which is precisely the opposite reaction that the movement promoted. It’s also bad for organizations, as research shows that female executives increase profitability.
So, what can organizations do to ensure these adverse reactions to #MeToo don’t stop women from climbing the ladder? Here are three things that Columbia University professor Jason Wingard tells Forbes companies could do.
1. Improve Workplace Flexibility
According to Pew research, over half of millennial mothers (58 percent) admit that being a parent makes it harder to get ahead at work. Only 19 percent of fathers feel that way.
If you want more women in leadership, you have to improve workplace flexibility to accommodate families better. When there are stronger policies in place that allow women to meet the demands of the office and home, then more women will remain in the workforce. This includes offering extended maternity leave, childcare options, and flexible working arrangements.
2. Develop Sponsorship Programs
Your company can also help advance women in leadership by formalizing relationships between male leaders and female subordinates via sponsorships. Compared to mentorships, sponsorships are more official and advocated by senior leaders, which can remove some of the fear.
Best yet, sponsors are typically more satisfied in their career and women being sponsored are 68 percent satisfied with their career advancement. Furthermore, 85 percent of mothers with sponsors are more likely to continue working full time compared to just 58 percent without.
3. Make Clear Company Policies
Since #MeToo, 55 percent of American men feel that it’s more difficult to know how to interact with women at work. Companies that create more clarity in the workplace with clearly defined sexual harassment policies can help alleviate this concern. Organizations should also clearly define company policies regarding romantic relationships in the workplace.
No matter what your company decides to do in response to #MeToo, the key thing to remember is that action must be taken now. You cannot wait and allow negative reactions to the movement to harm women’s ability to reach leadership positions at your organization.
This article has been edited and republished with permissions from its original source, Clear Admit.
Friday News Roundup – Wharton Opens FinTech Center, Northeastern Students Give Back, and More
Let’s take a look at some of the biggest stories from this week, including the all new Wharton FinTech Center.
Giving Day at D’Amore-McKim – Northeastern University News
On April 11, 2019, Northeastern University will host its Annual Giving Day: a 24 hour event that will support, among other NU endeavors, expansion of D’Amore-McKim‘s programs.
“Giving Day is a great way of getting our entire D’Amore-McKim community to come together to support what makes us remarkable,” Deborah Magnezy, Assistant Dean of Development at D’Amore-McKim, says of the event.
Among the funds to which donors can contribute are a FinTech Initiative, which engages students with the latest in technological advances within the financial services community; the Entrepreneurship and Innovation Fund, which will help create co-ops for students in this field; a Global Learning Fund, and the Digital, Analytics, Technology, and Automation (DATA) Initiative Fund.
Giving Day will feature speakers and activities for alumni, students, faculty and all others who support the school. To learn more about Giving Day, click here.
Wharton Announces Stevens Center for Innovation in Finance – Wharton News
University of Pennsylvania’s Wharton School of Business announced the establishment of the Stevens Center for Innovation in Finance in order to focus on tech innovation across the industry.
Named for Ross Stevens, alum and founder of Stone Ridge Holdings Group, the center will hold its inaugural event on April 3. FinTech leaders such as Wharton alum Jackie Reses, head of Square Capital, and David Klein, CEO of CommonBond, will appear at the event. The Stevens Center will be led by David Musto, Ronald O. Perelman Professor in Finance at Wharton.
According to Penn president Amy Gutmann, “The mission of the Stevens Center is precisely this: to ensure that innovations in finance make the greatest positive contributions to businesses and communities across the globe. The Stevens Center will catalyze Penn’s world-leading research and industry engagement and enrich the opportunities available for our outstanding students.”
The center will welcome business leaders to campus, and will offer students curriculum in FinTech research. It will also offer engagement with Wharton’s various FinTech clubs to open new career pathways for interested students. Along with courses, the center will offer mentorship opportunities and research projects, which will translate into real world applications.
You can learn more about the new Wharton FinTech Stevens Center here.
Gies Students Honored for Southside Startup – Gies College of Business News
Jordan Buckner and Isaac Lozano, two University of Illinois Gies College of Business MBAs, have brought their b-school knowledge to bear in the formation of their Chicago company Tea Squares, and have also created great social impact within the South Side community.
Tea Squares, which are snacks infused with energy enhancing teas, are selling in hundreds of retail stores, including Whole Foods, Jewel, and Mariano’s. In addition, the company’s success has earned the partners acknowledgement by Forbes for its annual 30 Under 30 list. Buckner says of the Forbes mention, “It was awesome to be recognized for creating a great-tasting snack to help people achieve success during their day and also be recognized for our social mission, which is a critical piece [of our business plan]… it was very humbling to be honored in that way.”
TeaSquares founders and Gies alumni Jordan Buckner, left, and Isaac Lozano, seen in their recent Chicago Tribune feature.
Tea Squares offers fellowships via partnerships with community revitalization groups. Through this, Buckner and Lozano find candidates with high-potential for sales, marketing, or production roles. The end goal of the fellowship is to train candidates to pursue their own ventures, thus strengthening the economy of the South Side.
For more on Buckner, Lozano, and Tea Squares, click here.
Stern Announces Major Research on Sustainable Products Market – NYU Stern School of Business News
The Center for Sustainable Business at NYU’s Stern School of Business recently released new findings from its Sustainable Share Index, an analysis of consumer’s purchases of products and business marketed as sustainable.
Over half of the growth in sales of consumer packaged goods since 2013 has been comprised of products with ‘environmentally friendly’ attributes. These items comprised 16.6 percent of consumer sales in 2018. Over the five year period, sustainability-marketed products had an increase in sales of 29 percent, or $114 billion. This may grow to $140 billion by 2024.
NYU Stern professor and founding director of Stern’s Center for Sustainable Business Tensie Whalen says:
“Results from this research reinforce the idea that embracing sustainability leads to better business results. We are excited to launch the Sustainable Share Index and look forward to continuing our research in the years to come.”
Other experts on sustainable business were quick to remark on this “eye opening” study. “Companies should take notice—the benefits of sustainability cannot be ignored … In fact, this groundbreaking research shows the significant impact that sustainable products have on overall category growth.” notes Randi Kronthal-Sacco, senior scholar in Marketing and Corporate Outreach from the Stern’s Sustainable Business Center.
For more on the Sustainable Share Index and the recent research, click here.
Berkeley Haas Hosts 23rd Annual Women in Leadership Conference – Berkeley Haas News
The University of California’s Berkeley Haas School of Business‘ Women in Leadership Conference takes place this weekend, March 16, 2019.
A team comprised of Berkeley Haas MBAs has worked for months to produce the 23rd annual event, which is the school’s longest running conference. With over 300 attendees expected to attend and 20 speakers on various issues affecting women across the world, WIL’s 2019 theme will be “Your Stories, Your Growth”.
Dean Ann Harrison will open the event with a welcome address. A keynote speech, panel discussions, and breakout sessions are to follow. Erin Casale, MBA 19 and WIL conference team member says of this year’s theme, “Stories inspire change, and that’s our ultimate collective goal … We recognize that everyone attending this conference brings something to the table.”
Members of the 2019 Women in Leadership Conference at the UC Berkeley Haas School of Business / Photo via http://newsroom.haas.berkeley.edu
Other speakers will be Sandra Lopez, VP at Intel Sports; Tyi McRay, interim director of diversity at Airbnb; Elena Gomez, CFO of Zendesk, and Brandi Pearce, lecturer in the Management of Organizations at Berkeley Haas.
Casale notes that the goal for the conference is to plant the seeds for change for those who attend.
“For us, it will be a win if attendees come away with a clear next step of what they can do to set themselves and their peers on a better path toward equity and inclusion … We want people to feel equipped for change and inspired to start it.”
Click here for more on this year’s conference.
New York Life Careers: What MBAs Should Know
Choosing the right job after earning your MBA is always intimidating. The degree opens a multitude of paths for professionals entering the marketplace. However, the sheer number of available options can be a double-edged sword, and it is important that b-schoolers do their due diligence to find the right company and career track for them.
For those looking to work at a company with a rich history, New York Life Insurance Company may be the right choice. Not only if New York Life one of the US’s oldest Fortune 100 companies, the company consistently makes Fortune’s list of the “World’s Most Admired Companies.” Below, we’ve laid out some of the opportunities available to MBA’s looking to work at New York Life Insurance, so that you can gauge whether it might be the right fit.
New York Life Career Opportunities
Two possible tracks for those seeking employment with New York Life: as agents, or as a member of the corporate team.
There are many options for aspiring New York Life Agents. There are entry level positions for new agents looking to grow their business and gain experience and knowledge of the field. More experienced agents are also encouraged to apply. Experienced professionals can also apply for a sales management/partner position. Those in this position will oversee the recruitment and development of sales teams.
Though opportunities for non-MBAs abound, MBAs are at a significant advantage here. Those who have completed their MBA within 24 months are eligible for the management fast-track, a program wherein select employees can advance to management within a year of being hired. These hired will take on roles as Associate Partners once they have met training requirements. It should be noted that New York Life prefers for fast-track applicants to be Life and Health licensed, have some previous sales experience, and have FINRA registrations of Series 6 or 7 and Series 63.
What Kind of Salary Should You Expect at New York Life Insurance?
The salary of New York Life Insurance agents can vary wildly, considering commission is significant portion of the career incentive. According to Glassdoor data, base-level agents can expect a total annual pay of $51,322. This includes salary (around $42,000), plus benefits, commission, and more. Of course, an advanced degree can greatly increase annual compensation, with some agents earning over $100,000 per year.
Those seeking to enter the corporate side of New York Life also have plenty of options. With over 9,000 corporate employees, there is a position for nearly every type of business-minded application. Whether you want to work in marketing and communications, technology, sales support, investments, leadership and management, or a host of other fields, New York Life offers plenty options and support.
PayScale data indicates that several MBA-level positions offer obvious lucrative benefits. The average marketing manager at New York Life, for instance, makes an average annual salary of $83,729. This is early double the amount administrative assistants and client services representatives make.
New York Life Internship Opportunities
New York Life offers several internship opportunities based on the company’s specific needs. However, the company has a couple of specific programs tailored for interns. For those with an interest in actuarial studies in their junior or senior year of undergrad, or pursuing their MBA, the Actuarial Summer Internship Program may be a desirable option. In this program, interns receive projects from each area of the company actuarial departments and work alongside full-time actuaries. They receive training in the relevant software, meeting with the other interns every two weeks to touch base. They also benefit from monthly presentations by the New York Life actuaries, and a variety of social events.
The company also offers a Summer Finance Internship Program, wherein juniors and seniors balance a real-world work environment with weekly seminars and mentoring support from full-time employees. According to the New York Life Website, finance interns may be, “placed across the organization in Corporate Finance, the Insurance and Agency Group, and the Investments Group, including Mutual Funds and Investment Boutiques.”
An Inclusive, Diverse Company Culture
New York Life boasts a client-first culture, wherein employees ensure that the people they are serving are their first priority. That doesn’t mean clients are the only priority. In fact, Forbes ranks New York Life 18th on it’s list of Best Employers for Diversity. The company states:
“We collaborate, to make sure we deliver the absolute best for our clients. We go above and beyond to give back. And we never seek financial gains at the expense of our values.”
Profile Magazine recently highlighted the company, called, “How An Inclusive Culture is Reshaping New York Life.” The article highlights New York Life’s active efforts toward inclusivity, as well as the loyalty of the company’s employees, and the ethical approach the company takes to serving clients and the community.
