Harvard Helps Business Students Take Startups to NYC
Launching a startup isn’t easy, but Harvard Business School is working to change that for its alumni with the start of its new RISE program. Put together by Harvard’s Rock Center for Entrepreneurship, the RISE program will help HBS graduates accelerate the growth of their NYC startups.
With the goal of seeing more of its alumni entrepreneurs make it big, the new HBS RISE program will offer a range of benefits and support. Planned programming will help new enterprises with the many challenges that accompany startup life—from developing culture to hiring employees, building leadership skills, managing boards, raising funds, optimizing sales, and more. The eventual goal is to help small ventures successful scale from just a handful of employees to hundreds.
In order to participate in the program, HBS alumni have to own a company that is revenue generating and has already raised $1 million in capital. These qualifications were set to help ensure that participating companies have the best chance for successful scaling.
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According to Professor Thomas Eisenmann, faculty chair of the Rock Center, the RISE program is all about helping enterprises scale individually. “In the RISE program, HBS faculty members, alongside seasoned entrepreneurs, will convey best practices and frameworks to help entrepreneurs address startup challenges that can make or break a company,” he explained in a news release. “The program has been developed to leverage extensive faculty research on what it takes to successfully scale an enterprise.”
HBS alumni chosen for the program can expect to learn about scaling their businesses from both faculty and peers. RISE will be broken down into sessions, each of which will have curated content developed by other successful alumni entrepreneurs and investors. At the end of each session, a roundtable discussion will allow for candid conversation between peers where founders can discuss challenges and offer advice.
Nine HBS alumni founders have already been accepted into the first RISE cohort, including:
This article has been edited and republished with permissions from our sister site, Clear Admit.
What are the Greenest Business Schools in the U.S.?
Earlier this month, the Global Hub at Northwestern’s Kellogg School of Management earned LEED (Leadership in Energy and Environmental Design) Platinum certification, becoming only the second building on the Northwestern campus to earn the U.S. Green Building Council’s highest green building rating.
The 415,000-square-foot Global Hub, which opened in March 2017, was designed with a low carbon footprint in mind. It is the largest of Northwestern’s 12 LEED-certified buildings. “Achieving LEED Platinum certification for the Global Hub underscores Kellogg’s strong commitment to sustainability,” Kellogg Chief Operating Officer William Garrett said in a press release. “A world-class facility demands world-class practices, and the Global Hub checks all of the boxes: It minimizes its carbon footprint, is comfortable and healthy for its occupants, and encourages collaboration and a sense of community.”
The building is a marvel of modern architecture and design. It taps into geothermal energy systems underneath the ground for efficient heating and cooling and uses nearly 6,000 fixtures of LED lighting to reduce energy use. The building also has an advanced ventilation system to circulate fresh ar and uses daylight sensors to minimize the need for artificial lighting.
Overall, the Global Hub earned 85 out of a possible 110 points on the LEED scale, including:
- 26 out of 35 points for energy and atmosphere,
- 7 out of 14 points for materials and resources,
- 8 out of 10 points for water efficiency,
- 23 out of 26 points for location,
- 11 out of 15 points for indoor environmental quality, and
- 10 out of 10 points for the design process and regional priority categories.
“We are proud to have successfully integrated best-in-class sustainability with a stunning architectural design, proving that excellence in design and sustainability are not mutually exclusive,” said Bonnie Humphrey, director of design for facilities.
Of course, Kellogg isn’t the only business school to embrace environmentally conscious building practices for its new facilities. It’s a practice we’re seeing across the board at various top schools.
For example, Harvard Business School has a Sustainability Plan that was adopted in October 2014 to reduce greenhouse gases, improve energy efficiency, reduce water usage and waste, and more. Already, the university has cut its greenhouse gas emissions by 49 percent, its energy use by 33 percent, and its water use by four percent.
MIT Sloan School of Management’s newest building, the Joan and William A Porter 1967 Center for Management Education, also known as E62, was designed with energy efficiency in mind as well. Among its sustainable features are light-sensitive window shades, a green roof, and an irrigation system that minimizes water use by responding to changes in weather.
And not to be left out, UC Berkeley’s Haas School of Business designed its recently constructed Chou Hall to become the nation’s greenest academic building. In addition to LEED Platinum certification, Chou Hall was designed to attain WELL certification, an added accolade given to buildings that promote user health and well-being. Toward this goal, its design includes rainwater cisterns and 24,300 square feet of exterior windows in addition to efficient heating, cooling, and lighting systems.
This article has been edited and republished with permissions from our sister site, Clear Admit.
Stanford Reigns Supreme on New Financial Times Global Ranking
INSEAD hoped to top the Financial Times MBA rankings for the third year in a row, but it wasn’t to be. The Stanford Graduate School of Business (GSB) gets top bragging rights this year, returning to the number-one spot it has held only once before, in 2012. INSEAD was knocked to number two, followed by the University of Pennsylvania’s Wharton School, which held steady at number three. London Business School (LBS) reclaimed some ground this year—coming in fourth—after a rare fall last year out of the top five. Harvard Business School (HBS), meanwhile, ranked fifth, its lowest showing since 2008.
Rounding out the top 10 this year were the University of Chicago Booth School of Business at sixth (up from ninth last year); Columbia Business School at seventh (unchanged from 2017); China’s CEIBS at eighth (up from 11th); MIT Sloan School of Management at ninth (up from 13th); and UC Berkeley’s Haas School of Business at 10th, (also up from 13th).
Perhaps the greatest victors of this year’s FT rankings were two-year MBA programs, which occupied nine out of the top 10 spots. More two-year programs moved up or maintained their position this year than moved down (31 compared to 21). In contrast, more one-year programs lost ground than gained this year (14 up, 21 down).
“It’s great to see the continued strength of the two-year MBA format in this year’s FT rankings, a format that allows for a truly transformational and immersive experience,” said Clear Admit Co-Founder Graham Richmond. “LBS’s move back into the top five isn’t surprising in light of the program’s continued strength in job placements, new facilities, curriculum redesign, and location at the heart of business and innovation in Europe (even as Brexit looms),” he continued. “While HBS’s position is inconsistent with Clear Admit’s Decision Wire-based data on applicant preferences, it’s the increasing gap in the FT ranking between Stanford and HBS that seems noteworthy.”
As always, the bearing a given ranking should have on your own choice of schools depends on how closely the methodology used to arrive at that ranking aligns with what you deem most important. So just how does the FT compile its list each year?
Understanding the FT Ranking Methodology
The FT ranking is based on surveys of alumni three years out from graduation, school data, and research rank. Alumni responses inform eight criteria—including average income three years after graduation and salary increase compared with pre-MBA salary. Together, these eight criteria account for 59 percent of the overall ranking. School data inform another 11 criteria—including various measures of diversity such as percentages of female and international faculty, students, and board members. Together these criteria make up another 31 percent of the ranking. The remaining 10 percent of the ranking is based on research rank, calculated according to the number of articles by full-time faculty in 50 internationally recognized journals, weighted relative to faculty size.
Record-Breaking Salaries Put Stanford GSB on Top
Stanford, which ranked second last year, managed to unseat INSEAD this year thanks in part to the record-breaking salaries reported by its alumni. The average Stanford alumnus salary three years after graduation was $214,742, up $20,000 over last year’s figures and the highest recorded since the inaugural FT ranking in 1999. Stanford grads’ average salary also represented a 114-percent gain on their pre-MBA salaries, also the highest increase among ranked schools. That a significant proportion of Stanford grads head into highly lucrative hedge fund positions helped it outdistance its rivals in this regard.
Stanford also far outdistanced its U.S. rivals in terms of the international exposure it affords its students. More than 25 percent of the latest graduating cohort did an internship abroad—compared to an average of 4 percent at ranked U.S. schools. Overall, though, Stanford ranked 32nd for international course exposure, down 14 places from last year. But in other measures of diversity, Stanford made gains, including its international faculty (41 percent), international board (25 percent), and international students (41 percent). In this last figure, too, Stanford set itself apart from its U.S. rivals, the majority of which have recruited fewer international students. Although the average proportion for ranked institutions is down by only one percentage point to 38 percent, the FT noted.
Research Scores Hold HBS, LBS Back
Both HBS and LBS saw their average salaries three years out increase by approximately $14,000—to $192,133 and $167,897 respectively. That climb helped LBS return to the top five this year, but sharp drops in each schools’ research ranks worked against them. Harvard’s research rank plummeted from third to 16th—contributing to its fall to fifth in the overall ranking. “This year’s research rank is based on articles published in 50 academic and practitioner journals by full-time faculty since January 2015, but several Harvard faculty last appeared in these publications in 2014, too long ago to count,” the FT noted. LBS, for its part, dropped from 12th to 27th in research rank.
Rice Business, Olin, Georgetown McDonough, Cornell Johnson See Big Gains
Just as two-year MBA programs fared well with regard to their one-year rivals this year, a select group of individual schools saw big gains this year over last. Rice University’s Jones School of Business jumped 19 places this year, from 64th to 45th. This surge can be attributed primarily to strong salary growth. Average salary grew from $130,189 to $139,189, contributing to a 118-percent increase over pre-MBA salary (up from 97 percent last year).
Washington University’s Olin Business School rose 18 spots, from 68th to 50th. The St. Louis school saw significant gains in average salary ($122,709) and increase over pre-MBA salary (107 percent). Georgetown University’s McDonough School of Business jumped 10 spots, from 40th to 30th, thanks also in part to increased average salary, as well as improved research rank (up 10 spots to 17th) and various diversity measures. And Cornell University’s Johnson Graduate School of Management also moved 10 spots up in the ranks, from 27th to 17th, due in great part to a significant increase in its research rank, up 13 places to fourth overall.
Spain’s Schools Slip Out of Top 10
In less celebratory news, two of Spain’s top-tier business schools slid out of the FT’s upper-most ranks. IESE slipped from 10th to 11th. Though its graduates’ average salary increased year over year, the increase was slight. Moreover, it slipped seven spots in terms of percentage increase over pre-MBA salary. Research rank, too, fell by five spots over the previous year.
IE Business School, meanwhile, fell out of the ranking altogether—from eighth last year. This is because it couldn’t gather a representative sample of the school’s alumni to take part in the FT’s survey.
As always, those of us here at Clear Admit encourage prospective applicants to use a school’s performance in these and other rankings as just one of many measurements to determine the MBA program that will best fit your individual needs.
You can view the complete Financial Times 2018 Global MBA Rankings here.
This article has been edited and republished with admissions from our sister site, Clear Admit.
The QS World MBA Tour Is Coming To These Select Cities
There are few better opportunities to learn about the exemplary business school opportunities than at an MBA fair. And luckily, for many prospective MBA students, that opportunity will soon be arriving in their city with the QS World MBA Tour.
Harvard Reveals 5 New Years Resolutions You Can Actually Keep
You aren’t even a week into 2018 and are already regretting that gym membership, but, you still have time to refine how you want your year to look. Carmen Nobel at Harvard Business School Working Knowledge discussed some more “realistic” efforts you can take.
Gear Up For These January MBA Deadlines
The next round of MBA admissions is swiftly approaching, with the eve of 2018 almost here. Time to mark those calendars!
New York City
The NYU Stern School of Business, Columbia Business School, and Rutgers Business School, Newark/New Brunswick are the big headliners when it comes to deadlines in the New York City metro in January.
The Forham University Gabelli School of Business, and the Syracuse University Whitman School of Management Online MBA program also have deadlines in the first weeks of the new year. Click here for more information on upcoming New York City metro deadlines.
The third round for application deadlines to Cornell’s Tech MBA on its new Roosevelt Island campus arrives January 10, 2018.
Los Angeles
The biggest Los Angeles metro business school institutions all have a slew of deadlines ready to pass within the first weeks of the new year, including the UCLA Anderson School of Management‘s full-time MBA, USC Marshall‘s part-time program, as well as the Claremont University Peter F. Drucker and Masatoshi Ito Graduate School of Management‘s part-time MBA.
Take a look at the coming deadlines in the Los Angeles metro here.
Toronto
Two Toronto metro schools have deadlines in early January, with the Ivey Business School full-time, Accelerated, and EMBA deadlines all falling on January 8, 2018. The second round deadline to the University of Toronto Rotman School of Management‘s full-time MBA also falls on January 8.
Take a look at the coming deadlines in the Toronto metro here.
Chicago
Two of the most prominent business schools in the entire Chicago metro—Chicago Booth and Northwestern Kellogg—feature a bevy of full-time, part-time, and Evening MBA deadlines before January 10. As well, the Quinlan School of Business at Loyola University’s full-time MBA for its annual spring intake arrives on January 15, 2018.
Just outside of the city, on the near border of Indiana, the Notre Dame Mendoza College of Business’ second round deadline for its full-time MBA program is set for January 9.
Get familiar with the coming deadlines in the Chicago metro here.
The second round of deadlines for the Northwestern Kellogg part-time and full-time MBA programs arrives on Jan. 10, 2018.
Boston
In Boston, the heart of America’s higher education, every January is a major month for several of the country’s most prominent MBA programs. Indeed, Harvard Business School and MIT Sloan, as well as the Questrom School of Business at Boston University, the Carroll School of Management at Boston College, and Northeastern University’s D’Amore-McKim School of Business all have MBA deadlines right at the beginning of the new year for various MBA programs.
Take a look at the coming deadlines in the Boston metro here.
For updated deadline information in Philadelphia, Washington DC, Baltimore, Atlanta, Dallas, Houston, Denver, San Francisco, San Diego, Seattle, and London, click here.
