How to Find Your Role with Healthcare Giant McKesson
Since 1833, McKesson has been one of America’s most successful companies, known for its world-class health care systems including medical supplies, pharmaceutical products, medical technology, and care management tools.
Founded in New York City and now headquartered in San Francisco, CA, McKesson is a Fortune Global 500 company with the fifth highest revenue in the U.S. In 2017, the company generated $198.5 billion in revenue through its extensive network infrastructure in the health care industry. Continue reading…
Jeff Sessions Learns Lessons from Notre Dame, and More – Chicago News
Let’s explore some of the most interesting stories that have emerged from Chicago business schools this week.
Stop Flailing and Start Delivering – Kellogg Insights
Of the “five common issues that impede career progress” Northwestern Kellogg clinical professor of innovation and entrepreneurship Carter Cast writes about in his new book, The Right (and Wrong) Stuff: How Brilliant Careers Are Made—and Unmade, the one issue that people most frequently self-identify is struggling to keep up.
Cast writes, “Careers can derail when people don’t deliver on promises. This can be a real problem because fellow workers start to distance themselves when they think you can’t be counted on.”
Cast offers five suggestions for how to “get organized and get ahead.”
1) Be Clear on What’s Expected of You
“Being clear with your boss on what success looks like is really important for setting expectations and ensuring you’re aligned. What are your goals and objectives for the year? What are the key initiatives that map to those objectives? What are the timelines for those initiatives, and what sort of resources will you need?”
2) Understand Your Organization’s Workflow Process
Cast says creative types tend to “overpromise and underdeliver” because “their eyes are typically bigger than their stomachs.” To these folks, Cast says, “Decide which tasks will really move the needle for your organization, and focus on those first. You can’t treat every message in your inbox equally.”
3) Be Intentional about Prioritizing Your Work
Cast suggests “breaking your day into segments and tackling challenging work during times when you are sharpest and most productive.” For instance, if your brain is most active between six and ten in the morning, for instance, that may not be the best time to respond to noncritical emails.”
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4) Learn How to Say “No”
Cast writes that people-pleasers “tend to take on more than they should—their default response is, “yes, why not?” But learning when to say “no,” and learning to do it tactfully, is critical for preserving valuable time and energy.”
5) Look for Opportunities to Delegate
Cast says, “We tend to think the best person to perform a given task is ourselves. In many cases, you have to learn to let go a bit. Things won’t go exactly the way you’d like, but you have to move forward and avoid needless distractions.”
You can check out the full article here.
Larry Gies Urges 2018 Graduates to “Find Your Way” – Gies School of Business Blog
Madison Industries founder, president, and CEO Larry Gies used his speech at Gies’ recent Convocation ceremony, which honored the “1,824 bachelor’s, master’s, and doctoral degree recipients,” as an opportunity to inspire graduates to spend time pinpointing their passion for what they do—or their “why.”
Gies, who donated $150 million to the University of Illinois last year, thus, changing the name of the business school in his honor, explains, “Knowing your why is critical. It is the ability to connect the dots between what you’re doing each and every day and a higher purpose. Our why is what drives us, inspires others around us, and allows us to persevere during those difficult moments. To put it simply, when you find your why, you love what you do.”
Gies adds, “I was forty-five before I found my why.”
Find out more about Gies’ speech here.
I’m a Biblical Scholar. It’s Clear That Jeff Sessions Needs a Bible Lesson – Mendoza Ideas & News
Notre Dame Mendoza business ethics professor and former Jesuit priest Joseph Holt contributed an op-ed to a recent issue of Fortune in which he took Attorney General Jeff Sessions to task for his “use of scripture to defend the Trump administration’s immigration policies.”
Professor Holt writes, “Sessions is pursuing justice understood as the strict and impartial application of the law. That shriveled understanding of justice is captured in the statement by Homeland Security Secretary Kirstjen Nielsen: ‘In the United States, if you break the law, you go to jail and you’re separated from your family.’
He adds, “From that viewpoint justice and mercy are opposed, because mercy could impede the administration of strict justice. But tzedek [the Hebrew word for “justice”] and its derivative tzedakah (which is a commandment to give as an act of social justice), mean justice and mercy working in unison.”
You can read the full article here.
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.
Rutgers Supply Chain Analytics Student Spends Summer at Amazon, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Beginning a Career in Supply Chain at Amazon – Rutgers Business School
Rutgers Business School exchange student Qiying Xu recently had an opportunity to put her supply chain management theory and Lean Six Sigma course work to use as part of an entry-level management position she will pursue at one of Amazon’s new fulfillment centers.
Xu writes that the Rutgers specialty master’s program in supply chain analytics gave her “the picture of the whole supply chain. The data analytics skills she’s accrued have almost single-handedly “changed the course of [her] career.”
You can read the full article on Xu’s work here.
Bridging the Gap Between Politics and Renewables – Johnson Business Feed
In a new op-ed with his alma mater, recent Johnson SOM graduate Mark DesMeules, MBA ’18, wrote about the role his school played in his career pivot from politics.
“I came to Johnson to accomplish what is colloquially known in the MBA world as a ‘career pivot.’ Prior to joining the Johnson community, I worked in politics in the nation’s capital—Washington DC. After gaining nearly five years of advocacy experience through my work with start-ups, non-profits, and Fortune 500s on intellectual property and technology policy issues, I decided to shift my career trajectory toward an industry I had always been passionate about: renewable energy.”
DesMeules writes that he was immediately sold on Johnson because of the school’s “robust academic and extracurricular offerings on sustainability and renewable energy.”
He elaborates, “At Johnson, I had the chance to explore the intersection of energy, sustainability, and business, all while becoming comfortable with ambiguity and complex business problems.”
“My Johnson colleagues, peers, and professors helped me learn, grow, and successfully pivot from the world of policy to the renewable energy industry. I am excited for the future and look forward to continuing to grow in the next chapter of my career.”
You can read the full op-ed from DesMeules here.
Governor Phil Murphy Selects Stevens to Announce New STEM Initiatives – Stevens Institute of Technology Blog
New Jersey Governor Phil Murphy recently visited Stevens Institute of Technology School of Business’ ABS Engineering Center to announce “two new STEM initiatives to retain highly-trained, technology-savvy college graduates in the state.”
The first is a “loan forgiveness program,” which will see “anyone who has worked in a STEM-related job in New Jersey for at least four years receive $2,000 per year, in years 5,6,7,8 at the same job, for a total benefit of $8,000. Employers and the state would split the covered amount 50/50.”
NJ Gov. Phil Murphy speaking at the Stevens Institute of Technology School of Business / Photo via stevens.edu
The second is an internship program for high school and college students in STEM fields, which reimburses “participating employers 50 percent of intern wages, up to $1,500 per student.”
Murphy said, “Stevens is one of the premier places where tomorrow’s leaders in innovation are learning the skills they will need to be successful and to change our world. If we are to grow the innovation economy again, we cannot lose our college graduates after graduation. I want them to stay here, in New Jersey, to be part of our economic future.”
Check out the full article here.
The California MBA Program Guide
If you’re looking to earn a California MBA, where should you go to school? Should you choose a top MBA program in Los Angeles or San Francisco? Both cities offer beautiful weather, gorgeous beaches, and world-class business education, but is one location better than the other?
Los Angeles vs. San Francisco
To get started, it’s necessary to compare the cost of living in Los Angeles and San Francisco. According to Numbeo, the world’s largest database containing user contributed data about cities, San Francisco is far and away the more expensive place to live. You would need $7,748.24 in San Francisco, CA to afford the same lifestyle that you can have for $5,700 in Los Angeles. That’s just over $2,000 more per month needed to live in San Francisco, and here’s how that’s broken down.
- Consumer Prices:98 percent higher in San Francisco
- Rent Prices: 51 percent higher in San Francisco
- Restaurant Prices: 62 percent higher in San Francisco
- Groceries Cost: 8 percent higher in San Francisco
- Local Purchasing Power: 77 percent higher in San Francisco
Right off the bat, it’s obvious that the cost of rent (real estate) is what will eat up most of your paycheck in San Francisco, but is that offset by anything? Here are the other things to consider when choosing between San Francisco and Los Angeles.
- Industries
- Los Angeles is ranked top in the country for manufacturing with over 500,000 workers in the industry. Other top industries include banking and finance (more than 100 foreign and domestic banks), entertainment, and tourism.
- San Francisco, on the other hand, is known as Silicon Valley (with San Jose) for its technology companies and startups (Intel, Apple, Genentech, Google, Uber, and Twitter). It’s also a great city for finance, global business, medical science, biotechnology, tourism, and fashion apparel (home of the Levi Strauss & Co headquarters).
- Economic Development: According to the Center for Jobs, San Francisco far and away outperforms Los Angeles in terms of economic growth and development with the Bay Area growing year-over-year while LA has struggled with almost consistent decreases.
- Top Companies: California is home to 53 Fortune 500 companies, second only to NYC. And more of those companies are located in the Bay Area compared to Los Angeles. San Francisco is home to Apple (3), McKesson (5), Chevron (19), and Wells Fargo (25). While Los Angeles is home to Aecom (161), CBRE (214), and Reliance Steel & Aluminum Co (320).
Los Angeles vs San Francisco MBA Programs
The next step is to compare the top three MBA programs in each city. In particular, we wanted to take a look at the tuition rates (two years), GMAT averages, and post-graduation salaries at each program in each city to get a well-rounded picture.
There are a few things to note right away.
- San Francisco is home to more highly ranked MBA programs with two ranking in the top ten on every list. However, it’s important to note that both cities have programs that rank well and are considered top tier schools.
- The average tuition in each city is fairly even. However, the most expensive ($137,00) and the most affordable ($77,000) schools are located in San Francisco, whereas Los Angeles is more even regarding tuition across the board.
- You’ll need a better GMAT score to go to a school in San Francisco, and that GMAT score translates into a higher salary after graduation. San Francisco graduates earn about $11,000 more per year compared to their LA counterparts.
Here’s how it all breaks down per school.
Top 3 Los Angeles MBA Programs
Anderson School of Management – UCLA
The UCLA Anderson School of Management offers a full-time MBA, a part-time MBA, an Executive MBA, and a UCLA-NUS Global MBA (Asia Pacific) program. It’s considered one of the top business schools in the world, ranking 6th in the Economist, 15th in Forbes, 16th in the U.S. News & World Report, and 25th in Financial Times.
- Tuition Rates (two years): $117,176
- GMAT Averages: 719
- Post-Grad Salaries (Mean): $119,964
Marshall School of Business – USC
The Marshall School of Business at USC offers a full-time MBA program, a part-time MBA, an Executive MBA, and IBEAR (International Business Education and Research) MBA, and an Online MBA program. The school’s full-time MBA program is ranked: 20th in the U.S. News & World Report, 33rd in Forbes, 59th in Financial Times, and 65th in the Economist.
- Tuition Rates (two years): $116,361
- GMAT Averages: 703
- Post-Grad Salaries (Mean): $115,309
The Paul Merage School of Business – University of California, Irvine
The Paul Merage School of Business has both a full-time MBA program as well as a part-time fully-employed MBA program. In addition, the school offers an Executive MBA and a Health Care Executive MBA program. The business school is ranked highly across multiple rankings including 41st in Forbes, 42nd in the U.S. News & World Report, 56th in the Economist, 64th in Financial Times.
- Tuition Rates (two years): $87,661
- GMAT Averages: 652
- Post-Grad Salaries (Mean): $97,808
Top 3 San Francisco MBA Programs
Haas School of Business – UC Berkeley
The Haas School of Business offers a full-time MBA, part-time MBA, and Executive MBA program. Haas is ranked as one of the top business school’s in the world ranking in the top ten on every list: 7th overall in U.S. News & World Report and 7th overall in the Economist, as well as 9th overall in Forbes, and 10th overall in the Financial Times.
- Tuition Rates (two years): $117,444
- GMAT Averages: 725
- Post-Grad Salaries (Mean): $125,573
Stanford University Graduate School of Business
The Stanford University Graduate School of Business offers only a full-time MBA program, but it’s one of, if not the top two-year program in the world. When looking at how Stanford GSB stacks up to the competition, the rankings speak for themselves with all in the top ten and most in the top five, including: 1st overall in the Financial Times, 2nd overall in Forbes, 4th in the U.S. News & World Report, and 9th in the Economist.
- Tuition Rates (two years): $137,736
- GMAT Averages: 733
- Post-Grad Salaries (Mean): $144,455
UC Davis Graduate School of Management
At the UC Davis Graduate School of Management, MBA applicants can apply to the full-time MBA or the part-time MBA program. Once again, UC Davis is one of the top schools in the world, ranking 37th in the U.S. News & World Report, 63rd in Forbes, and 67th in the Economist.
- Tuition Rates (two years): $77,698
- GMAT Averages: 669
- Post-Grad Salaries (Mean): $97,695
California MBA Breakdown in Charts
When breaking down the data between MBA programs in Los Angeles and San Francisco, here’s what it looks like
California MBA Tuition (Los Angeles vs. San Francisco)
California MBA GMAT Averages
California MBA Post-Graduation Salaries
Women Leaders Headline 2018 MBA Commencement Addresses
With spring fully in sway, classes have come to an end on many leading business school campuses, and commencement activities fill weekend after weekend from now through June. The roster of speakers top schools invite to send their MBA graduates off into the world can be revealing.
Graduation speakers are typically invited to impart hard-earned wisdom and present words of encouragement to MBA classes, and this year is no exception in that regard. More exceptional, though, is the number of women delivering the headlining speeches.
Sallie Krawcheck, CEO and Co-Founder of Ellevest at NYU Stern
NYU’s Stern School of Business selected Sallie Krawcheck to headline its 2018 Graduate Convocation ceremony on Friday May 18.
Krawcheck is currently CEO and co-founder of Ellevest, an investment firm designed for women, which “aims to serve women [investors’] needs…using an algorithm tailored specifically to women’s incomes and life cycles.”
Sallie Krawcheck / Photo Ellevest
The company has racked up a slew of accolades, among them inclusion in both Nerdwallet’s “Best Robo Advisors of 2018” and Entrepreneur Magazine’s “100 Brilliant Ideas of 2017.”
In a preview of her speech, Krawcheck spoke about our “tumultuous and confusing times,” challenging individuals to evaluate their own personal “ideas of ethical leadership and who we really are,” as well as the ways in which we consider our careers as they relate to our responsibility to the world around us.
“We have to decide if we’re going to be that person who does the right thing. We have to decide if we’re going to commit to equality, to diversity, and to using the power of business to make the world a better place.”
Vice Chairwoman of Morgan Stanley Carla Harris at Harvard Business School
On May 23, Harvard Business School welcomed Morgan Stanley Vice Chairwoman Carla Harris, whose distinguished career spans three decades.
Carla Harris / Photo via Fast Comapny
Harris has been named to Fortune’s list of the “50 Most Powerful Black Executives in Corporate America” and its “Most Influential List” and appeared in similar lists in wide-ranging publications including U.S. Banker, Black Enterprise, Essence Magazine, and Ebony.
Harris has also received honorary doctorates from seven different institutions including Marymount Manhattan College, Jacksonville University, and Simmons College.
Instagram COO Marne Levine at Michigan Ross
One of the first commencement addresses of the season took place on Friday, April 27, at Michigan’s Ross School of Business, where Instagram’s Chief Operating Officer Marne Levine delivered a rousing headlining speech.
Ross Dean Scott DeRue introduced Levine with remarks about her inspirational career and commitment to her work’s impact on society. DeRue added that he sought to invite someone “who role models the leadership we aspire to.” He also praised Levine’s “transformative and positive impact on how we live, work, and interact with each other.”
Marne Levine / Photo via Collective Hub
With more than 700 million users worldwide, Instagram has become an iconic brand due in no small part to Levine’s efforts to scale the company’s business and operations at a global level.
She has been COO at Instagram since 2014 and before that served as VP of global public policy with parent company Facebook. Levine’s roots, however, are in the political arena: She worked in the Obama administration as chief of staff of the National Economic Council, worked under Harvard President Larry Summers, and began her career in the Department of the Treasury during Bill Clinton’s presidency.
You can watch Levine’s speech below.
