Top 5 Business Schools for Investment Banking Careers
If you’re hoping to land a high-paying investing career, not just any business school will do. You have to attend a top business school that has a history of employing graduates. Even then, you’ll most likely need to be near the top of your class or have an impressive background/internship to land the job you want.
Continue reading…Let Introverts be Introverts, Says Stevens Guest Speaker – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
To Be Successful, Organizations Should Let Introverts Be Introverts, Says Stevens Speaker – Stevens Institute of Technology School of Business News
Introverts make up a third to a half of our workforce, and yet the majority of workplaces are built for extroverts—from open floor plans, bustling activity, to meetings dominated by who can be most assertive. These environments are not conducive to introverts, who are most productive when left alone to work and create.
Susan Cain, speaker at the Stevens Institute of Technology’s Excellence Through Diversity Lecture Series, shares how important it is to create that space for different work styles.
“There is no such thing as a one-size-fits-all environment. We need to be thinking day by day, team by team, office design by office design, how we can set things up so that there are varying levels of stimulation.”
Cain adds, “There have been a whole bunch of studies that have come out over the years showing that most people believe that introverts make inferior leaders and are passed over for leadership positions. On the other hand, there is another set of studies showing that introverts in leadership positions often deliver out-sized performance returns.”
You can read more about Cain’s lecture series event here.
Faster Internet Fuels Job Growth in Africa – Columbia Business School News
New research from Columbia Business School‘s Jonas Hjort and Uppsala’s Jonas Poulsen finds that the expansion of fast Internet in Africa has created jobs, increased employment rates, and greatly benefited populations with lower levels of education.
Professor Hjort writes, “These findings shed light on how modern information and communications technology can affect employment rates, structural change, job inequality, and firm growth in the poorest region of the world.”
“Our results imply that faster Internet allows firms to create (or retain) a lot of positions that otherwise would not be tenable in Africa,” adding that “access to information and communication can help give people with lower education a more secure foothold on the economic ladder, and improve living standards.”
You can read more about the growth here.
Impact Investing is About to Become More Mainstream Than Ever – Gabelli Connect
Last month, 350 guests gathered for Fordham’s inaugural Impact Investment Convening to discuss investing for social and environmental good.
Blended finance projects are already cited by the United States, Canada, Netherlands, and the Nordic countries as “proof that private capital could answer the problems that, historically, government couldn’t.” Investors are successfully driving interest in socially responsible investing and there is great potential to reach untapped markets.
The Convening was organized by Peter Lupoff, MBA ’86, Gabelli executive-in-residence and Center for Research in Contemporary Finance fellow. Lupoff explains, “What’s more is that the greatest transition in wealth is about to occur, from boomers to millennials. They care about how their money is spent, socially and environmentally, so it makes good sense for the traditional markets to embrace this – the capital will demand it.”
Keynote speaker Danielle Kayembe, CEO and founder of GreyFire Impact, points out, “The gender divide in consumer products and industry at large reflects a huge untapped area. Some estimates say women drive up to 85 percent of consumer spending in the United States, and, globally, women control some $36 trillion in total wealth.”
You can read more about impact investing here.
Alumni Spotlight: Ray Dalio, Bridgewater Associates Founder, HBS MBA
For 40 years, investment firm Bridgewater Associates has managed portfolios and partnerships with a tremendous level of success. Today, the company manages about $160 billion for approximately 350 global clients, including public and corporate pension funds, university endowments, charitable foundations, supranational agencies, sovereign wealth funds, and central banks. Ray Dalio, Founder of Bridgewater Associates and Harvard Business School MBA grad, is a big reason for this success. Continue reading…
Why The Blackstone Group Loves MBA Grads
It’s no secret that pursuing an MBA can help business professionals to open new career opportunities, boost their earning potential, and accelerate their careers. And for those employers that deeply understand the value of an MBA education, these sorts of benefits can be hardwired into a company’s DNA.
At a firm like the Blackstone Group, hiring and using the skills of MBA graduates to improve the company is just part of doing business. In fact, for many of the top investment banking firms in the United States, an MBA is pretty much a requirement for advancement. During a 2015 Korn Ferry executive search for a senior-level investment banker at a top firm, just two of the twenty five top candidates did not possess an MBA.
What is Blackstone?
The Blackstone Group is one of the world’s leading investment firms, with more than 2,300 employees in 25 offices throughout the globe. Founded in 1985 by Chairman and CEO Stephen A. Schwarzman and former Senior Chairman Peter G. Peterson, Blackstone aims to create a positive economic impact and long-term value not just for the companies and investors involved with the firm, but also for the communities in which they are involved.
As of September 2017, Blackstone has $387 assets under management, which include private equity, real estate, credit, and hedge fund solutions.
Why MBAs Love Blackstone
Blackstone is consistently named among the top MBA employers in the country, and it’s pretty clear why: in addition to a high earning potential, the company is well-known for providing autonomy and opportunity early on in a new associate’s career.
“New hires can expect to take on client-facing roles that make them an integral part of the company’s decision-making right away,” said Bronwen Baumgarder, who runs the company’s MBA recruiting program.
MBA degree or no, its clear that Blackstone provides an excellent work environment for its employees. Ranked “Best Place to Work” for three years in a row by Pensions & Investments, Blackstone considers its employees as an integral part of the firm’s identity and culture of integrity. Blackstone also offers many opportunities for both undergraduate and graduate business students to get involved while still in school—through summer internships and even full-time positions—making the firm an ideal place to start your career.
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Life at Blackstone
Graduate students may apply to join Blackstone’s full-time program starting in their second year of business school. Starting in August, the company sponsors recruiting events on university campuses throughout the globe, and students may begin applying for a number of available positions within the company.
The full-time program at Blackstone is open for candidates interested in a full-time role as an analyst or associate. Candidates may apply for multiple groups within the vast company, but MBAs are typically placed within the firm’s restructuring, advisory or private equity businesses. Other possible groups within the company include:
- Charitable Foundation
- Equity Healthcare
- Finance/Accounting
- External Relations & Strategy
- Investor Relations/Marketing
Landing a Job at Blackstone
Although Blackstone actively recruits MBA candidates throughout the world, securing a position with this top firm is still highly competitive. Each year, the company typically hires eight to twelve full-time MBAs, which is only a small percentage of the total employee base of more than 1,600. While the full-time program is an excellent way for business students to get involved early, summer internships are another way for talented students to get their foot-in-the-door early in the recruitment process.
The summer internship is a unique experience, typically lasting 10-12 weeks and aimed at students in their first year of business school. The summer interns at Blackstone do a lot more than get coffee—summer analysts and associates are considered an integral part of all deals, transactions and projects throughout the summer. In 2012, thirteen summer interns were hired full-time from top business schools around the country.
First and foremost, the firm seeks talented individuals who demonstrate strong leadership skills and the potential to grow with the company.
“Our corporate culture is very important and we have very little turnover,” Baumgardner told CNN Money. “[S]o longevity is very important to us.”
Generous Gift from Gupta College Alum to Support New Financial Markets Lab
Randy Paulson, an MBA alum from the University of Dallas – Satish and Yasmin Gupta College of Business, will help empower future business leaders through his generous gift supporting the Paulson Financial Markets Lab.
UCLA Anderson Professor Published In Wall Street Journal
Shlomo Benartzi, a professor at UCLA’s Anderson School of Management, recently wrote a piece for the European edition of The Wall Street Journal that explained a phenomenon called “narrow framing,” which often prevents investors from attaining success.
